We address questions investors may have about Shawn Reynolds stepping back and Sam Halpert and Geoff King taking over as Co-Portfolio Managers for the VanEck Global Resources Fund.

Valuation discipline and sector allocation tilted exposure towards consumer staples, industrials and health care, supporting gains as software lagged.

Gold miners are generating record margins and free cash flow as prices remain elevated. With disciplined capital allocation and costs below $2,000 per ounce, the sector appears well positioned for 2026.

BDC valuations reflect NII, dividend coverage, credit quality and rate expectations. With P/B below average, markets may already price in cuts, creating potential income opportunities.