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EMLC
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF

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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

  • Commencement

    05/08/2012

  • 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 04/07/20

  • 30-Day SEC Yield1

    9.65%

  • Total Net Assets

    $293.6M

  • Number of Holdings

    666

  • Options

    Expected

  • Gross Expense Ratio2

    0.46%

  • Net Expense Ratio/TER2

    0.40%

  • Distribution Frequency

    Monthly

  • Next Distribution Date

    04/30/2020
1, 2, 10 See Important Disclosure. 

Morningstar™ Ratings3
as of 1/31/2020

Category Overall 3 Year 5 Year
Emerging Markets Bond
4 stars of 240 funds
3 stars of 240 funds
5 stars of 179 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 04/07/20

  • 30-Day SEC Yield1

    9.65%

  • Distribution Yield1

    8.08%

  • 12-Month Yield1

    7.42%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%

  • Other Expenses

    0.06%

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.46%

  • Fee Waivers and
    Expense Reimbursement

    -0.06%

  • Net Expense Ratio/TER2

    0.40%
2Expenses for HYEM are capped contractually at 0.40% until September 1, 2020. 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

    15,000,000

  • Estimated Cash

    HYEMEU

  • Total Cash

    HYEMTC

  • CUSIP

    92189F353

  • ISIN

    US92189F3534
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 04/06/20

  • Yield to Worst

    12.07%

  • Yield to Maturity

    12.07%

  • Effective Duration (yrs)

    3.37

  • Years to Maturity

    4.81

  • Modified Duration (yrs)

    3.45

  • Coupon

    6.30%
 4 See Important Disclosure for definitions.

Prices as of 04/07/20

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 $19.57
$19.10		 283,641
389,100		 $0.09 / +1.16%
$-0.05 / +0.43%		 -15.29%
-17.51%
 $-0.47
-2.42%		 1.56%

Premium/Discount History as of 04/07/20

Calendar Year 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 196 58 54 62 40
HYEM Days closed at NAV 7 3 2 0 0
Days closed at a discount 49 2 8 2 22

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) -1.09 1.90 0.55 7.07 4.25 6.43 -- 5.45
HYEM (Share Price) -1.33 2.25 0.59 8.11 4.47 6.78 -- 5.53
EMLH (Index)** -1.05 2.04 0.11 7.57 4.67 7.16 -- 6.10
Performance Differential (NAV - Index) -0.04 -0.14 0.44 -0.50 -0.42 -0.73 -- -0.65
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
05/08/12**
HYEM (NAV) 1.34 3.45 12.29 12.29 5.36 6.77 -- 5.49
HYEM (Share Price) 1.65 3.95 12.84 12.84 5.57 7.15 -- 5.57
EMLH (Index)** 1.92 4.23 12.98 12.98 5.88 7.53 -- 6.22
Performance Differential (NAV - Index) -0.58 -0.78 -0.69 -0.69 -0.52 -0.76 -- -0.73

*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 BofA 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 "Net Asset Value" (NAV) of a VanEck Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. VanEck Vectors ETF investors should not expect to buy or sell shares 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 02/29/20 Daily Holdings

Total Holdings: 685
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country†
Currency
% of Net
Assets
SOUTHERN GAS CORRIDOR CJSC
6.875
03/24/2026
BB
Azerbaijan
USD
0.76
SBERBANK OF RUSSIA VIA SB CAPITAL SA
5.125
10/29/2022
BB+
Russian Federation
USD
0.65
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
3.150
10/01/2026
BB
Israel
USD
0.64
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
2.800
07/21/2023
BB
Israel
USD
0.56
FIRST QUANTUM MINERALS LTD
7.250
04/01/2023
B-
Zambia
USD
0.50
KAZMUNAYGAS NATIONAL CO JSC
5.750
04/19/2047
BB+
Kazakhstan
USD
0.49
VTB BANK OJSC VIA VTB CAPITAL SA
6.950
10/17/2022
B+
Russian Federation
USD
0.48
KAZAKHSTAN TEMIR ZHOLY FINANCE BV
6.950
07/10/2042
BB+
Kazakhstan
USD
0.47
YPF SA
8.750
04/04/2024
CCC
Argentina
USD
0.45
FIRST QUANTUM MINERALS LTD
7.500
04/01/2025
B-
Zambia
USD
0.43
Top 10 Total (%) 5.43

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 02/29/20

  • Country

    % of Net Assets
  • ■

    China

    12.57
  • ■

    Brazil

    9.71
  • ■

    Turkey

    8.84
  • ■

    Russia

    5.83
  • ■

    Argentina

    5.78
  • ■

    India

    5.46
  • ■

    Mexico

    3.94
  • ■

    South Africa

    3.59
  • ■

    Colombia

    3.44
  • ■

    United States

    3.02
  • ■

    Israel

    2.97
  • ■

    Indonesia

    2.73
  • ■

    Singapore

    2.29
  • ■

    Ukraine

    2.15
  • ■

    Kazakhstan

    1.87
  • ■

    Uae

    1.82
  • ■

    Zambia

    1.72
  • ■

    Oman

    1.61
  • ■

    Azerbaijan

    1.53
  • ■

    Bahrain

    1.40
  • ■

    Other/Cash

    17.70

Currency Exposure (%)
as of 02/29/20

  • U.S. Dollar

    99.30

  • Other/Cash

    0.70

Sector Weightings (%) as of 02/29/20

  • Sector

    % of Net Assets
  • ■

    Financial

    36.1
  • ■

    Energy

    15.2
  • ■

    Basic Materials

    10.6
  • ■

    Consumer, Non-cyclical

    8.6
  • ■

    Communications

    7.2
  • ■

    Industrial

    6.1
  • ■

    Utilities

    5.8
  • ■

    Consumer, Cyclical

    5.2
  • ■

    Government

    3.3
  • ■

    Diversified

    0.9
  • ■

    Technology

    0.2
  • ■

    Other/Cash

    0.7

Credit Quality (%) as of 02/29/20

Composite % of Net Assets
Investment Grade BBB 0.05
Non-Investment Grade BB 55.88
B 33.95
CCC 9.10
CC 0.03
C 0.07
Total Investment Grade -- 0.05
Total Non-Investment Grade -- 99.02
Not Rated -- 0.22
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 02/29/20

 Average Portfolio Maturity: 5.00 Years