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THHY
VanEck Vectors Treasury-Hedged High Yield Bond ETF

  • Fund Description

    The VanEck Vectors® Treasury-Hedged High Yield Bond ETF (THHY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS U.S. Treasury-Hedged High Yield Bond Index (MVTHHY) , which was designed to provide exposure to below investment grade corporate bonds, denominated in U.S. dollars.

  •  
      

    • Fund Ticker

      THHY
    • Exchange

      NYSE Arca
    • Commencement

      03/21/2013
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      MVTHHY
    • Index Rebalancing

      Monthly
  •  
    as of 08/21/17

    • 30-Day SEC Yield1

      3.93%
    • Total Net Assets

      $4.7M
    • Number of Holdings

      127
    • Options

      Expected
    • Gross Expense Ratio2

      3.21%
    • Net Expense Ratio/TER2

      0.50%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      08/31/2017
  • Download All Fund Holdings »All Daily Long Holdings (%) as of 08/21/17

    Total Holdings: 126
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Currency
    % of Net
    Assets
    Hca Inc
    6.500
    02/15/2020
    BBB-
    USD
    2.55
    Dish Dbs Corp
    5.875
    07/15/2022
    B+
    USD
    2.29
    Citigroup Inc
    6.300
    12/29/2049
    BB+
    USD
    2.13
    Ally Financial Inc
    8.000
    11/01/2031
    BB+
    USD
    1.65
    Sprint Corp
    7.875
    09/15/2023
    B
    USD
    1.64
    First Data Corp
    7.000
    12/01/2023
    B
    USD
    1.62
    T-Mobile Usa Inc
    6.625
    04/01/2023
    BB
    USD
    1.54
    Tenet Healthcare Corp
    4.750
    06/01/2020
    BB-
    USD
    1.49
    Centurylink Inc
    5.800
    03/15/2022
    BB
    USD
    1.48
    Mgm Resorts International
    6.625
    12/15/2021
    BB-
    USD
    1.20
    Level 3 Financing Inc
    5.375
    08/15/2022
    BB-
    USD
    1.20
    Sprint Corp
    7.125
    06/15/2024
    B
    USD
    1.16
    Sprint Capital Corp
    6.875
    11/15/2028
    B
    USD
    1.16
    Csc Holdings Llc
    5.500
    04/15/2027
    BB
    USD
    1.13
    Frontier Communications Corp
    11.000
    09/15/2025
    B+
    USD
    1.13
    Bank Of America Corp
    8.125
    12/29/2049
    BB+
    USD
    1.13
    Davita Inc
    5.000
    05/01/2025
    B+
    USD
    1.08
    Freeport-Mcmoran Inc
    3.875
    03/15/2023
    BB-
    USD
    1.05
    Cf Industries Inc
    3.450
    06/01/2023
    BB
    USD
    1.03
    Freeport-Mcmoran Inc
    5.400
    11/14/2034
    BB-
    USD
    1.00
    Adt Corp/The
    3.500
    07/15/2022
    BB-
    USD
    1.00
    Reynolds Group Issuer Inc / Reynolds Gr
    5.750
    10/15/2020
    B
    USD
    0.97
    Emc Corp
    3.375
    06/01/2023
    BB
    USD
    0.92
    Glp Capital Lp / Glp Financing Ii Inc
    4.875
    11/01/2020
    BB+
    USD
    0.91
    Arconic Inc
    5.125
    10/01/2024
    BBB-
    USD
    0.90
    Goldman Sachs Group Inc/The
    5.375
    12/29/2049
    BB+
    USD
    0.90
    Nrg Energy Inc
    6.250
    07/15/2022
    BB-
    USD
    0.90
    Andeavor Logistics Lp / Tesoro Logistic
    6.125
    10/15/2021
    BB+
    USD
    0.90
    Zf North America Capital Inc
    4.750
    04/29/2025
    BB+
    USD
    0.90
    Morgan Stanley
    5.550
    12/29/2049
    BB+
    USD
    0.89
    Cco Holdings Llc / Cco Holdings Capital
    5.500
    05/01/2026
    BB+
    USD
    0.89
    Chs/Community Health Systems Inc
    8.000
    11/15/2019
    CCC+
    USD
    0.86
    Antero Resources Corp
    5.125
    12/01/2022
    BB
    USD
    0.86
    Talen Energy Supply Llc
    5.125
    07/15/2019
    B-
    USD
    0.84
    Aes Corp/Va
    7.375
    07/01/2021
    BB
    USD
    0.83
    Netflix Inc
    5.875
    02/15/2025
    B+
    USD
    0.80
    Cemex Finance Llc
    9.375
    10/12/2022
    BB-
    USD
    0.79
    Dollar Tree Inc
    5.750
    03/01/2023
    BB+
    USD
    0.79
    Ncr Corp
    6.375
    12/15/2023
    BB
    USD
    0.78
    Navient Corp
    5.875
    03/25/2021
    B+
    USD
    0.77
    Navient Corp
    8.450
    06/15/2018
    BB-
    USD
    0.77
    Spectrum Brands Inc
    5.750
    07/15/2025
    BB-
    USD
    0.77
    Qep Resources Inc
    6.875
    03/01/2021
    BB+
    USD
    0.77
    Dynegy Inc
    6.750
    11/01/2019
    B+
    USD
    0.77
    Micron Technology Inc
    5.500
    02/01/2025
    BB
    USD
    0.77
    Concho Resources Inc
    5.500
    04/01/2023
    BB+
    USD
    0.76
    Bank Of America Corp
    5.200
    12/29/2049
    BB+
    USD
    0.76
    Wynn Las Vegas Llc / Wynn Las Vegas Cap
    4.250
    05/30/2023
    BB-
    USD
    0.75
    Icahn Enterprises Lp / Icahn Enterprise
    6.000
    08/01/2020
    BB+
    USD
    0.74
    Nielsen Finance Llc / Nielsen Finance C
    4.500
    10/01/2020
    BB+
    USD
    0.74
    Univision Communications Inc
    5.125
    02/15/2025
    BB-
    USD
    0.74
    Springleaf Finance Corp
    8.250
    12/15/2020
    B
    USD
    0.73
    Navient Corp
    5.500
    01/25/2023
    B+
    USD
    0.72
    Chs/Community Health Systems Inc
    6.875
    02/01/2022
    CCC+
    USD
    0.71
    Caesars Entertainment Resort Properties
    11.000
    10/01/2021
    CC
    USD
    0.71
    Zayo Group Llc / Zayo Capital Inc
    6.000
    04/01/2023
    B
    USD
    0.69
    Hughes Satellite Systems Corp
    6.500
    06/15/2019
    BBB-
    USD
    0.69
    Cheniere Corpus Christi Holdings Llc
    5.875
    03/31/2025
    BB-
    USD
    0.69
    Scientific Games International Inc
    7.000
    01/01/2022
    B+
    USD
    0.68
    Calpine Corp
    5.750
    01/15/2025
    B
    USD
    0.68
    Standard Industries Inc/Nj
    5.375
    11/15/2024
    BBB-
    USD
    0.68
    Xpo Logistics Inc
    6.500
    06/15/2022
    B+
    USD
    0.68
    Lennar Corp
    4.500
    11/15/2019
    BB
    USD
    0.67
    Novelis Corp
    5.875
    09/30/2026
    B
    USD
    0.66
    Ep Energy Llc / Everest Acquisition Fin
    9.375
    05/01/2020
    CCC-
    USD
    0.66
    Iron Mountain Inc
    5.750
    08/15/2024
    B
    USD
    0.65
    L Brands Inc
    6.625
    04/01/2021
    BB+
    USD
    0.64
    Continental Resources Inc/Ok
    4.500
    04/15/2023
    BB+
    USD
    0.64
    Solera Llc / Solera Finance Inc
    10.500
    03/01/2024
    CCC+
    USD
    0.63
    Ball Corp
    5.000
    03/15/2022
    BB+
    USD
    0.63
    Albertsons Cos Llc / Safeway Inc / New
    6.625
    06/15/2024
    B
    USD
    0.63
    Fresenius Medical Care Us Finance Ii In
    5.625
    07/31/2019
    BBB-
    USD
    0.61
    Equinix Inc
    5.375
    04/01/2023
    BB+
    USD
    0.61
    Clear Channel Worldwide Holdings Inc
    6.500
    11/15/2022
    B
    USD
    0.60
    Cco Holdings Llc / Cco Holdings Capital
    5.750
    01/15/2024
    BB+
    USD
    0.60
    Transdigm Inc
    5.500
    10/15/2020
    B-
    USD
    0.60
    Sirius Xm Radio Inc
    4.625
    05/15/2023
    BB
    USD
    0.60
    Dell International Llc / Emc Corp
    7.125
    06/15/2024
    BB
    USD
    0.59
    Citgo Holding Inc
    10.750
    02/15/2020
    B-
    USD
    0.59
    Apx Group Inc
    7.875
    12/01/2022
    B-
    USD
    0.59
    Chemours Co/The
    6.625
    05/15/2023
    B+
    USD
    0.58
    Valeant Pharmaceuticals International
    6.375
    10/15/2020
    B-
    USD
    0.58
    Msci Inc
    5.750
    08/15/2025
    BB
    USD
    0.57
    Sunoco Lp / Sunoco Finance Corp
    6.375
    04/01/2023
    B+
    USD
    0.57
    Commscope Technologies Llc
    6.000
    06/15/2025
    BB-
    USD
    0.57
    Hd Supply Inc
    5.250
    12/15/2021
    BB
    USD
    0.57
    Altice Us Finance I Corp
    5.500
    05/15/2026
    BB-
    USD
    0.56
    Pultegroup Inc
    4.250
    03/01/2021
    BB+
    USD
    0.56
    Kfc Holding Co/Pizza Hut Holdings Llc/T
    5.000
    06/01/2024
    BB
    USD
    0.56
    Hca Inc
    5.375
    02/01/2025
    B+
    USD
    0.56
    Goodyear Tire & Rubber Co/The
    5.125
    11/15/2023
    BB
    USD
    0.56
    United Rentals North America Inc
    4.625
    07/15/2023
    BB+
    USD
    0.56
    Lifepoint Health Inc
    5.500
    12/01/2021
    BB-
    USD
    0.56
    Williams Cos Inc/The
    4.550
    06/24/2024
    BB+
    USD
    0.55
    Amerigas Partners Lp / Amerigas Finance
    5.875
    08/20/2026
    BB-
    USD
    0.54
    Blue Cube Spinco Inc
    9.750
    10/15/2023
    BB
    USD
    0.53
    Windstream Services Llc
    7.750
    10/01/2021
    B+
    USD
    0.52
    Sm Energy Co
    6.125
    11/15/2022
    B+
    USD
    0.51
    Energy Transfer Equity Lp
    7.500
    10/15/2020
    BB-
    USD
    0.49
    Prime Security Services Borrower Llc /
    9.250
    05/15/2023
    B-
    USD
    0.48
    Iheartcommunications Inc
    9.000
    12/15/2019
    CC
    USD
    0.48
    California Resources Corp
    8.000
    12/15/2022
    CCC+
    USD
    0.47
    Wpx Energy Inc
    8.250
    08/01/2023
    B+
    USD
    0.47
    Tegna Inc
    6.375
    10/15/2023
    BB+
    USD
    0.46
    Hertz Corp/The
    5.500
    10/15/2024
    B-
    USD
    0.45
    Newfield Exploration Co
    5.625
    07/01/2024
    BB+
    USD
    0.45
    Hanesbrands Inc
    4.875
    05/15/2026
    BB
    USD
    0.44
    Targa Resources Partners Lp / Targa Res
    5.250
    05/01/2023
    BB-
    USD
    0.44
    Centene Corp
    5.625
    02/15/2021
    BB+
    USD
    0.44
    Consol Energy Inc
    5.875
    04/15/2022
    B+
    USD
    0.44
    Range Resources Corp
    5.000
    08/15/2022
    BB+
    USD
    0.41
    Cit Group Inc
    5.500
    02/15/2019
    BB+
    USD
    0.40
    Rite Aid Corp
    6.750
    06/15/2021
    B-
    USD
    0.38
    Ashland Llc
    4.750
    08/15/2022
    BB-
    USD
    0.38
    Calpine Corp
    6.000
    01/15/2022
    BB
    USD
    0.38
    Bmc Software Finance Inc
    8.125
    07/15/2021
    CCC+
    USD
    0.37
    Denbury Resources Inc
    5.500
    05/01/2022
    CCC+
    USD
    0.37
    Whiting Petroleum Corp
    5.000
    03/15/2019
    BB-
    USD
    0.37
    Hexion Inc
    6.625
    04/15/2020
    CCC+
    USD
    0.34
    Chesapeake Energy Corp
    8.000
    12/15/2022
    B+
    USD
    0.33
    Rockies Express Pipeline Llc
    6.875
    04/15/2040
    BB
    USD
    0.33
    Jbs Usa Lux Sa / Jbs Usa Finance Inc
    8.250
    02/01/2020
    BB-
    USD
    0.31
    Cequel Communications Holdings I Llc /
    6.375
    09/15/2020
    B
    USD
    0.29
    Frontier Communications Corp
    8.500
    04/15/2020
    B+
    USD
    0.28
    Arconic Inc
    5.900
    02/01/2027
    BB+
    USD
    0.23
    Other/Cash
    --
    --
    --
    USD
    6.07
    Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion. The credit breakdown presented above includes only the aggregate of the long positions.
  • Download All Short Fund Holdings »Short Holdings (%) as of 08/21/17

    Total Holdings: 1
    Holding Name
    Contracts
    Notional Amount
    (US$)
    Market Value
    (US$)
    Us 5yr Note (Cbt) Sep17
    -37
    -4,388,547-4,389

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

  • Important Disclosure

    VanEck only serves professional clients in countries where the funds are registered or where funds can be sold in accordance with local private placement rules.

    130-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the Fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the Fund over the last twelve months assuming the most recent NAV. Distributions may vary from time to time. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Vectors Treasury-Hedged High Yield Bond ETF would have been 1.35% on 08/21/2017. The Distribution Yield is the annual yield an investor would receive if the most recent Fund distribution stayed the same going forward. The yield represents a single distribution from the Fund and does not represent the total return of the Fund.  The yield is calculated by annualizing the most recent distribution and dividing by the Fund NAV from the as-of date. The 12-Month Yield is the yield an investor would have received if they had held the fund over the last 12 months assuming the most recent NAV. The 12-month yield is calculated by summing any income distributions over the past 12 months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past 12 months. Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included.

    2THHY Fees & Expenses: "Other expenses" are based on estimated amounts for the current fiscal year. Assumes that the Fund will engage in short sales as the primary means of gaining exposure to the Short Portfolio (defined below) of its Index for only part of the current fiscal year. Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.50% of the Fund's average daily net assets per year until at least September 1, 2017. During such time, the expense limitation is expected to continue until the Fund's Board of Trustees acts to discontinue all or a portion of such expense limitation. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio".

    3Morningstar Ratings: If applicable, when the ETF is rated three stars or more for any given period. ©Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

    4Fund Fundamentals: These figures represent averages. The duration characteristic presented illustrates net valuations, averaging the results of the aggregated long and short positions. Years-to-maturity and coupon characteristics presented illustrate valuations, averaging the results of the aggregated long positions. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Yield to Maturity is the annualized return on a bond held to maturity. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bonds with embedded options. Years to Maturity is the period of time for which a financial instrument remains outstanding. Maturity refers to a finite time period at the end of which the financial instrument will cease to exist and the principal is repaid. Coupon is measured by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid on a fixed-income security on an annual basis. Averages are market weighted. The coupon and yields presented do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

    4Index Fundamentals: These figures represent averages. Yield and duration characteristics presented illustrate net valuations, averaging the results of the aggregated long and short positions. Years-to- maturity and coupon characteristics presented illustrate valuations, averaging the results of the aggregated long positions. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Yield to Maturity is the annualized return on a bond held to maturity. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bonds with embedded options. Years to Maturity is the period of time for which a financial instrument remains outstanding. Maturity refers to a finite time period at the end of which the financial instrument will cease to exist and the principal is repaid. Coupon is measured by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid on a fixed-income security on an annual basis. Averages are market weighted. The coupon and yields presented do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

    5IIV is an abbreviation for the intraday indicative value of an ETF's Shares (and is also known as the Indicative Optimized Portfolio Value or IOPV), and is disseminated every 15 seconds during regular trading hours. The IIV is based on the current market value of the securities and/or cash required to be deposited in exchange for a Creation Unit. The IIV does not necessarily reflect the precise composition of the current portfolio of securities held by the Fund at a particular point in time or the best possible valuation of the current portfolio. Therefore, the IIV should not be viewed as a "real-time" update of the Fund's NAV, which is computed only once a day. The Fund is not involved in, or responsible for, the calculation or dissemination of the IIV and makes no warranty as to its accuracy.

    6The S&P 500® Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sector; as an Index, it is unmanaged and is not a security in which investments can be made.

    RISK CONSIDERATIONS: The Fund is subject to risks associated with investing in high yield securities, which include a greater risk of loss of income and principal than funds holding higher rated securities; concentration risk; futures risk; credit risk; hedging risk; interest rate risk; and short sale risk. High Yield Risk : High yield securities may be subject to greater risk of loss of income and principal and are likely to be more sensitive to adverse economic changes than higher rated securities. The secondary market for securities that are junk bonds may be less liquid than the markets for higher quality securities and, as such, may have an adverse effect on the market prices of certain securities. Interest Rate Risk : Bonds are also subject to interest rate risk. Interest rate risk refers to fluctuations in the value of a bond resulting from changes in the general level of interest rates. When the general level of interest rates goes up, the prices of most bonds go down. When the general level of interest rates goes down, the prices of most bonds go up. Short Sales Risk : Short sales are transactions in which the Fund sells a security that it does not own. The Fund may incur a loss as a result of a short sale if the price of the security increases between the date of the short sale and the date on which the Fund replaces the security sold short. The Fund may also pay transaction costs and borrowing fees in connection with short sales.  Hedging Risk : The Index is designed to hedge against the price sensitivity of the below investment grade corporate bonds included in the Index and increases in interest rates. The Fund's Short Portfolio does not reduce credit risk. The Fund's Short Portfolio will not eliminate interest rate risk, and the value of the Fund's shares may decline if interest rates increase. The Fund's Short Portfolio will also result in foregone losses if interest rates decline. A risk of hedging is the imperfect correlation between price movement of securities sold and the price movement of the Fund's investments. Futures Risk : Futures contracts generally provide for the future sale by one party and purchase by another party of a specified instrument, index, or commodity at a specified future time and at a specified price. The value of a futures contract tends to increase and decrease in tandem with the value of the underlying instrument. Futures contracts involve the risk of mispricing or improper valuation, and the risk that changes in the value of a futures contract may not correlate perfectly with the underlying indicator.  Concentration Risk : Investments concentrated in the industrials sectors may be subject to more volatility than investment in a diversified group of sectors and are subject to the risks associated with such sectors.  

    MVIS U.S. Treasury-Hedged High Yield Bond Index is the exclusive property of MV Index Solutions GmbH (a wholly owned subsidiary of the Adviser), which has contracted with Interactive Data Pricing and Reference Data, LLC to maintain and calculate the Index. Interactive Data Pricing and Reference Data, LLC is not an adviser for or a fiduciary to any account, fund or ETF managed by Van Eck Associates Corporation and is not responsible for any direct, indirect, or consequential damages associated with indicative optimized portfolio values and/or indicative intraday values. VanEck Vectors Treasury-Hedged High Yield Bond ETF is not sponsored, endorsed, sold or promoted by MV Index Solutions GmbH and MV Index Solutions GmbH makes no representation regarding the advisability of investing in the Fund.

    Index returns assume the reinvestment of all income and do not reflect any management fees or brokerage expenses associated with Fund returns. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. You cannot invest directly in an Index.

    Country of Risk:  Country of risk is defined using the International Organization for Standardization’s (ISO) country codes which take four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the CEO, CFO, COO or General Counsel is otherwise.

    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.

    Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called "creation units" and otherwise can be bought and sold only through exchange trading. Shares may trade at a premium or discount to their NAV in the secondary market.

    The performance data quoted represents past performance. Past performance is not a guarantee of future results. Performance information for the Fund reflects temporary waivers of expenses and/or fees. Had the Fund incurred all expenses, investment returns would have been reduced. Investment return and value of the shares of the Fund will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Performance current to the most recent month end is available by calling 800.826.2333 or on this web page.

    Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus , which contains this and other information, call 800.826.2333 or visit vaneck.com/etfs . Please read the prospectus and summary prospectus carefully before investing.

    This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.