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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 BofA 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

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Custodian

    State Street Bank and Trust Company

  • Index Ticker

    EMLH

  • Index Rebalancing

    Monthly

  • 2020 Preliminary NAIC
    Designation10

    4

 
as of 10/30/20

  • 30-Day SEC Yield1

    6.04%

  • Total Net Assets

    $419.8M

  • Number of Holdings

    783

  • Options

    Expected

  • Gross Expense Ratio2

    0.47%

  • Net Expense Ratio/TER2

    0.40%

  • Distribution Frequency

    Monthly
1, 2, 10 See Important Disclosure. 

Morningstar™ Ratings3
as of 09/30/2020

Category Overall 3 Year 5 Year
Emerging Markets Bond
4 stars of 239 funds
3 stars of 239 funds
4 stars of 187 funds

Key Points

  • Focuses solely on the non-sovereign segment of the high yield emerging markets bond market 7

  • Currently lower average duration versus high yield U.S. corporate bonds8

  • Lower historical default rates compared to high yield U.S. corporate bonds9

Yield
as of 10/30/20

  • 30-Day SEC Yield1

    6.04%

  • Distribution Yield1

    5.74%

  • 12-Month Yield1

    5.98%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%

  • Other Expenses

    0.07%

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.47%

  • Fee Waivers and
    Expense Reimbursement

    -0.07%

  • Net Expense Ratio/TER2

    0.40%
2Expenses for HYEM are capped contractually at 0.40% until September 1, 2021. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    HYEM

  • Index Total Return Ticker

    EMLH

  • NAV

    HYEMNV

  • Intraday NAV (IIV)5

    HYEMIV

  • Shares Outstanding

    18,600,000

  • Estimated Cash

    HYEMEU

  • Total Cash

    HYEMTC

  • CUSIP

    92189F353

  • ISIN

    US92189F3534
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 10/29/20

  • Yield to Worst

    6.89%

  • Yield to Maturity

    6.99%

  • Effective Duration (yrs)

    3.53

  • Years to Maturity

    5.19

  • Modified Duration (yrs)

    3.80

  • Coupon

    6.14%
 4 See Important Disclosure for definitions.

Prices as of 10/30/20

NAV/
Market Price 		Volume
30-Day Avg./
Last Trading Day 		Daily Change
NAV/
Last Price 		YTD Change
NAV/
Last Price 		Premium/
Discount 		Prem/Discount
Distribution Charts 		NAV &
Prem/Discount
History 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
HYEM $22.57
$22.61		 183,667
66,723		 -$0.04 / -0.17%
$-0.01 / -0.04%		 +0.53%
-0.02%
 $0.04
0.17%		 0.26%

Premium/Discount History as of 10/30/20

Calendar Year 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 196 62 40 32 55
HYEM Days closed at NAV 7 0 0 3 0
Days closed at a discount 49 2 22 28 9

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
05/08/12**
HYEM (NAV) -1.26 2.93 0.42 3.89 2.92 6.38 -- 5.05
HYEM (Share Price) -1.52 3.40 0.26 4.21 3.02 6.47 -- 5.10
EMLH (Index)** -1.16 3.18 -0.26 3.96 3.10 6.86 -- 5.62
Performance Differential (NAV - Index) -0.10 -0.25 0.68 -0.07 -0.18 -0.48 -- -0.57
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
05/08/12**
HYEM (NAV) -1.26 2.93 0.42 3.89 2.92 6.38 -- 5.05
HYEM (Share Price) -1.52 3.40 0.26 4.21 3.02 6.47 -- 5.10
EMLH (Index)** -1.16 3.18 -0.26 3.96 3.10 6.86 -- 5.62
Performance Differential (NAV - Index) -0.10 -0.25 0.68 -0.07 -0.18 -0.48 -- -0.57

*Returns less than one year are not annualized.

**Index data prior to May 13, 2015 reflects that of The BofA Merrill Lynch High Yield US Emerging Markets Liquid Corporate Plus Index (EMHY). From May 13, 2015 forward, the index data reflects that of the Fund's underlying index, The ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index (EMLH). Index history which includes periods prior to May 13, 2015 reflects a blend of the performance of EMHY and EMLH and is not intended for third party use.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

The "After Tax Held" represents total return after taxes on distributions and assumes shares have not been sold. "After Tax Sold" represents total return after taxes on distributions and the sale of Fund shares. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. After-tax returns are based on NAV.

Top 10 Holdings (%) as of 09/30/20 Daily Holdings

Total Holdings: 781
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country†
Currency
% of Net
Assets
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
3.150
10/01/2026
BB
Israel
USD
0.69
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
2.800
07/21/2023
BB
Israel
USD
0.64
SOUTHERN GAS CORRIDOR CJSC
6.875
03/24/2026
BB
Azerbaijan
USD
0.64
SBERBANK OF RUSSIA VIA SB CAPITAL SA
5.125
10/29/2022
BB+
Russia
USD
0.63
FIRST QUANTUM MINERALS LTD
7.250
04/01/2023
CCC+
Zambia
USD
0.51
VTB BANK OJSC VIA VTB CAPITAL SA
6.950
10/17/2022
B+
Russia
USD
0.49
DP WORLD SALAAM
6.000
07/01/2169
BB
Uae
USD
0.48
BBVA BANCOMER SA/TEXAS
6.750
09/30/2022
BB+
Spain
USD
0.47
SASOL FINANCING USA LLC
5.875
03/27/2024
BB
South Africa
USD
0.43
KAZMUNAYGAS NATIONAL CO JSC
5.750
04/19/2047
BB+
Kazakhstan
USD
0.43
Top 10 Total (%) 5.41

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. 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.

Country Weightings (%) as of 09/30/20

  • Country

    % of Net Assets
  • ■

    China

    11.76
  • ■

    Brazil

    9.97
  • ■

    Turkey

    7.88
  • ■

    Mexico

    7.19
  • ■

    India

    6.19
  • ■

    Russia

    5.23
  • ■

    South Africa

    4.00
  • ■

    Argentina

    3.81
  • ■

    Israel

    3.71
  • ■

    Colombia

    3.36
  • ■

    Uae

    2.54
  • ■

    United States

    2.43
  • ■

    Indonesia

    2.29
  • ■

    Singapore

    2.06
  • ■

    Ukraine

    1.95
  • ■

    Zambia

    1.69
  • ■

    Kazakhstan

    1.63
  • ■

    Bahrain

    1.40
  • ■

    Azerbaijan

    1.39
  • ■

    Peru

    1.34
  • ■

    Other/Cash

    18.19

Currency Exposure (%)
as of 09/30/20

  • U.S. Dollar

    99.43

  • Other/Cash

    0.57

Sector Weightings (%) as of 09/30/20

  • Sector

    % of Net Assets
  • ■

    Financial

    35.6
  • ■

    Energy

    17.1
  • ■

    Basic Materials

    12.0
  • ■

    Consumer, Non-cyclical

    8.4
  • ■

    Industrial

    6.7
  • ■

    Communications

    6.0
  • ■

    Utilities

    5.5
  • ■

    Consumer, Cyclical

    4.9
  • ■

    Government

    2.0
  • ■

    Diversified

    1.0
  • ■

    Technology

    0.1
  • ■

    Other/Cash

    0.6

Credit Quality (%) as of 09/30/20

Composite % of Net Assets
Investment Grade BBB 0.55
Non-Investment Grade BB 58.36
B 30.02
CCC 8.93
CC 0.32
C 0.17
D 0.15
DDD 0.16
Total Investment Grade -- 0.55
Total Non-Investment Grade -- 98.10
Not Rated -- 0.78
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 09/30/20

 Average Portfolio Maturity: 5.25 Years