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HYEM
VanEck Vectors Emerging Markets High Yield Bond ETF

Fund Description

The VanEck Vectors® Emerging Markets High Yield Bond ETF (HYEM®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index (EMLH), which is comprised of U.S. dollar-denominated bonds issued by non-sovereign emerging markets issuers that are rated below investment grade and that are issued in the major domestic and Eurobond markets.

 
 

  • Fund Ticker

    HYEM
  • Exchange

    NYSE Arca
  • Commencement

    05/08/2012
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    Bank of New York Mellon
  • Index Ticker

    EMLH
  • Index Rebalancing

    Monthly
  • 2019 Preliminary NAIC
    Designation10

    4

 
as of 09/20/19

  • 30-Day SEC Yield1

    7.17%
  • Total Net Assets

    $305.5M
  • Number of Holdings

    591
  • Options

    Expected
  • Gross Expense Ratio2

    0.46%
  • Net Expense Ratio/TER2

    0.40%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    09/30/2019
1, 2, 10 See Important Disclosure

Index Key Points

The ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index (EMLH) is comprised of:
U.S. dollar-denominated bonds issued by non-sovereign emerging markets issuers that are rated below investment grade and issued in the major domestic or eurobond markets. In order to qualify for inclusion in the Index, an issuer must have risk exposure to countries other than members of the FX G109, all Western European countries and territories of the U.S. and Western European countries.

Index Weighting: 
The Index constituents are capitalization-weighted based on their current amount outstanding times the market price plus accrued interest, subject to a 10% country of risk cap and a 3% issuer cap. Countries and issuers that exceed the caps are reduced to 10% and 3%, respectively, and the face value of each of their bonds is adjusted on a pro-rata basis.

Index provider: ICE Data Indices, LLC11

Index Profile

  • Ticker

    EMLH
  • Inception Date

    03/03/2015
  • Rebalance Frequency

    Monthly

Index Fundamentals4
as of 09/20/19

  • Yield to Worst

    7.69%
  • Yield to Maturity

    7.83%
  • Effective Duration (yrs)

    3.41
  • Years to Maturity

    4.99
  • Modified Duration (yrs)

    3.69
  • Coupon

    6.47%
 4 See Important Disclosure for definitions.

Top 10 Constituents (%) as of 08/31/19

Total Constituents: 708
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Southern Gas Corridor
0.000
03/24/2026
0.84
Sberbank (Sb Cap Sa)
0.000
10/29/2022
0.73
Teva Pharmaceuticals Ne
2.200
07/21/2021
0.63
Eskom Holdings Soc Ltd
0.000
01/26/2021
0.61
Teva Pharmaceuticals Ne
3.150
10/01/2026
0.59
Teva Pharmaceuticals Ne
2.800
07/21/2023
0.57
Vtb Bank (Vtb Capital Sa
6.950
10/17/2022
0.53
Kazmunaygas National Co
0.000
04/19/2047
0.53
Kazakhstan Temir Zholy
6.950
07/10/2042
0.53
Dtek Finance Plc
0.000
12/31/2024
0.48
Top 10 Total (%) 6.04
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 08/31/19

  • Country

    % of Net Assets
  • Turkey

    10.00
  • China

    9.91
  • Brazil

    8.99
  • Russia

    6.41
  • India

    6.09
  • Argentina

    5.71
  • Mexico

    4.83
  • South Africa

    4.75
  • Hong Kong

    3.42
  • Uae

    3.37
  • Israel

    3.00
  • Colombia

    2.48
  • Ukraine

    2.40
  • Indonesia

    2.23
  • Kazakhstan

    2.03
  • Oman

    1.74
  • Azerbaijan

    1.53
  • Peru

    1.40
  • Chile

    1.33
  • Singapore

    1.08
  • OTHERS

    17.31

Index Sector Weightings (%) as of 08/31/19

  • Sector

    % of Net Assets
  • Financial

    37.0
  • Energy

    14.3
  • Basic Materials

    11.1
  • Consumer, Non-cyclical

    8.5
  • Industrial

    6.7
  • Communications

    6.6
  • Utilities

    6.4
  • Consumer, Cyclical

    4.7
  • Government

    3.6
  • Diversified

    1.0
  • OTHERS

    0.2

Index Credit Quality (%) as of 08/31/19

Composite % of Net Assets
Non-Investment Grade BB 48.68
B 36.37
CCC 5.24
CC 0.21
Total Non-Investment Grade -- 90.51
Not Rated -- 9.49
Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 08/31/19

 Average Maturity: 4.99 Years