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IHY
VanEck Vectors International High Yield Bond ETF

Fund Description

The VanEck Vectors®International High Yield Bond ETF (IHY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE BofA Global ex-US Issuers High Yield Constrained Index (HXUS), which is comprised of U.S. dollar, Canadian dollar, pound sterling, and euro denominated below investment grade corporate bonds issued by non-U.S. corporations in the major domestic or Eurobond markets.

 
 

  • Fund Ticker

    IHY
  • Exchange

    NYSE Arca
  • Commencement

    04/02/2012
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    HXUS
  • Index Rebalancing

    Monthly
  • 2020 Preliminary NAIC
    Designation7

    4

 
as of 04/07/20

  • 30-Day SEC Yield1

    7.89%
  • Total Net Assets

    $97.7M
  • Number of Holdings

    669
  • Options

    Available
  • Gross Expense Ratio2

    0.54%
  • Net Expense Ratio/TER2

    0.40%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    04/23/2020
1, 2, 7 See Important Disclosure

Morningstar™ Ratings3
as of 2/29/2020

Category Overall 3 Year 5 Year
High Yield Bond
4 stars of 621 funds
4 stars of 621 funds
4 stars of 540 funds

Key Points

Diversified non-U.S. high yield exposure
International high yield bonds represent over 45% of the global high-yield market8
Higher credit quality
Historically lower default rates than U.S. high-yield bonds9
Reduced interest rate risk
Historically lower duration than U.S. high-yield bonds10

Yield
as of 04/07/20

  • 30-Day SEC Yield1

    7.89%
  • Distribution Yield1

    5.79%
  • 12-Month Yield1

    5.85%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    0.14%
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.54%
  • Fee Waivers and
    Expense Reimbursement

    -0.14%
  • Net Expense Ratio/TER2

    0.40%
2Expenses for IHY 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

    IHY
  • Index Total Return Ticker

    HXUS
  • NAV

    IHYNV
  • Intraday NAV (IIV)5

    IHYIV
  • Shares Outstanding

    4,600,000
  • Estimated Cash

    IHYEU
  • Total Cash

    IHYTC
  • CUSIP

    92189F445
  • ISIN

    US92189F4458
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 04/06/20

  • Yield to Worst

    9.26%
  • Yield to Maturity

    9.68%
  • Effective Duration (yrs)

    3.64
  • Years to Maturity

    5.19
  • Modified Duration (yrs)

    3.76
  • Coupon

    5.45%
 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
IHY $21.24
$20.95
48,294
16,374
$0.26 / +1.73%
$0.24 / +1.65%
-13.95%
-14.95%
$-0.29
-1.36%
0.96%

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 35 4 6 14 7
IHY Days closed at NAV 17 1 2 12 7
Days closed at a discount 200 58 56 38 48

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) -1.68 0.57 -1.01 6.10 4.79 4.94 -- 5.11
IHY (Share Price) -1.79 0.53 -1.18 6.18 4.71 4.91 -- 5.10
HXUS (Index) -1.61 0.89 -1.19 6.80 5.42 5.67 -- 5.84
Performance Differential (NAV - Index) -0.07 -0.32 0.18 -0.70 -0.63 -0.73 -- -0.73
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) 1.59 3.77 12.75 12.75 6.28 5.20 -- 5.36
IHY (Share Price) 1.73 4.01 12.70 12.70 6.59 5.52 -- 5.37
HXUS (Index) 2.10 4.33 13.50 13.50 6.97 5.83 -- 6.13
Performance Differential (NAV - Index) -0.51 -0.56 -0.75 -0.75 -0.69 -0.63 -- -0.77

Top 10 Holdings (%) as of 02/29/20 Daily Holdings

Total Holdings: 680
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
ALTICE FRANCE SA/FRANCE
7.375
05/01/2026
B
Luxembourg
USD
0.65
CHINA EVERGRANDE GROUP
8.750
06/28/2025
B
China
USD
0.60
VODAFONE GROUP PLC
3.100
01/03/2079
BB+
United Kingdom
EUR
0.50
SOFTBANK GROUP CORP
6.000
01/19/2066
B+
Japan
USD
0.42
BANCO DO BRASIL SA/CAYMAN
3.875
10/10/2022
BB-
Brazil
USD
0.41
PETROBRAS GLOBAL FINANCE BV
5.999
01/27/2028
BB-
Brazil
USD
0.40
INTRUM AB
3.125
07/15/2024
BB
Sweden
EUR
0.40
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
3.150
10/01/2026
BB
Israel
USD
0.39
PETROBRAS GLOBAL FINANCE BV
8.750
05/23/2026
BB-
Brazil
USD
0.38
KAISA GROUP HOLDINGS LTD
9.375
06/30/2024
B
China
USD
0.38
Top 10 Total (%) 4.53

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

    12.82
  • Brazil

    9.59
  • United Kingdom

    7.96
  • Italy

    6.97
  • Canada

    5.94
  • United States

    4.57
  • France

    4.56
  • Luxembourg

    4.26
  • Germany

    3.63
  • Spain

    3.47
  • Turkey

    3.23
  • Israel

    2.27
  • India

    2.14
  • Netherlands

    2.04
  • Russia

    1.96
  • Japan

    1.61
  • Mexico

    1.48
  • South Africa

    1.22
  • Argentina

    1.22
  • Singapore

    1.12
  • Other/Cash

    17.96

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

  • U.S. Dollar

    64.48
  • Euro

    30.19
  • GBP

    3.99
  • Canadian Dollar

    0.74
  • Other/Cash

    0.60

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

  • Sector

    % of Net Assets
  • Financial

    30.0
  • Communications

    16.7
  • Energy

    10.4
  • Consumer, Cyclical

    10.0
  • Consumer, Non-cyclical

    9.8
  • Basic Materials

    8.1
  • Industrial

    7.8
  • Utilities

    4.8
  • Technology

    1.0
  • Diversified

    0.6
  • Government

    0.3
  • Other/Cash

    0.6

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

Composite % of Net Assets
Non-Investment Grade BB 53.63
B 25.89
CCC 3.75
C 0.01
Total Non-Investment Grade -- 83.28
Not Rated -- 16.72
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: 5.41 Years