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EMRCX
Emerging Markets Fund - Class C

Latest Market Updates*

  • The VanEck Emerging Markets Equity Strategy outperformed the MSCI EM IMI Index on the MTD, QTD and YTD basis ending June 30, 2020.
  • The global pandemic has accelerated growth in certain sectors and industries such as digital payments, e-commerce, data centers, telemedicine and video gaming.
  • This acceleration trend is positive for our active Emerging Markets Equity Strategy, as we have always been forward looking, focused on many of these structural growth areas and, as a result, we currently see that positive prospects for many of our portfolio companies actually accelerated during the quarter.
  • As COVID-19 unfolded, significant market turbulence disproportionately affected small- and mid-cap stocks in emerging markets, as has historically been the case in times of heightened risk.

Latest Market Updates*

  • The VanEck Emerging Markets Equity Strategy outperformed the MSCI EM IMI Index on the MTD, QTD and YTD basis ending June 30, 2020.
  • The global pandemic has accelerated growth in certain sectors and industries such as digital payments, e-commerce, data centers, telemedicine and video gaming.
  • This acceleration trend is positive for our active Emerging Markets Equity Strategy, as we have always been forward looking, focused on many of these structural growth areas and, as a result, we currently see that positive prospects for many of our portfolio companies actually accelerated during the quarter.
  • As COVID-19 unfolded, significant market turbulence disproportionately affected small- and mid-cap stocks in emerging markets, as has historically been the case in times of heightened risk.

Daily Price as of 09/21/20

NAV DAILY CHANGE
$15.86 $-0.25 / -1.6%

Class C Details: EMRCX

INCEPTION DATE GROSS/NET EXPENSES1
2.32%/2.32%

Fund Summary and Key Points

The VanEck Emerging Markets Fund (the "Fund") seeks long-term capital appreciation by investing in equity securities in emerging markets around the world.

  • A global emerging markets equity portfolio focused on companies with growth potential at a reasonable price (“GARP”)
  • A bottom-up investment process driven by fundamental research into the sustainability of a company’s growth drivers
  • Growth is oriented toward strong secular stories, many of which reflect domestic demand themes and are often found in smaller-capitalization stocks

Fund Details
as of 08/31/20

  • Net Assets (All Classes)
    $2291.4M
  • Number of Holdings
    85
  • Avg. Wtd. Market Cap
    $21.0B
  • Turnover Rate (2019)
    23.0%
  • P/E (LTM) / P/E (Forward)*
    23.0 / 24.1
  • P/B (LTM)*
    3.9
  • Benchmark Index
    MSCI EM IMI
*Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

EM Equity Investment Team

Photo of the Emerging Markets Equity Investment Team

David Semple, Portfolio Manager, with Angus Shillington, Patricia Gonzalez and Ola El-Shawarby, CFA

Photo L to R (Not Pictured - Dominic Jacobson)

Patricia Gonzalez , David A. Semple , Angus Shillington , Ola El-Shawarby , Dominic Jacobson

Top 10 Holdings (%)

Holdings Sector % of Net Assets
Alibaba Group Holding Ltd. Consumer Discretionary 8.4
Tencent Holdings Ltd. Communication Services 6.7
HDFC Bank Limited Financials 4.1
Ping An Insurance (Group) Company of China, Ltd. Class H Financials 3.5
Prosus N.V. Class N Consumer Discretionary 3.1
Samsung SDI Co., Ltd Information Technology 2.7
Meituan Dianping Class B Consumer Discretionary 2.3
A-Living Services Co. Ltd. Class H Industrials 2.2
Wuxi Biologics (Cayman) Inc. Health Care 2.2
GDS Holdings Ltd. Sponsored ADR Class A Information Technology 2.0
Top 10 Total 37.2
Holdings Sector % of Net Assets
Alibaba Group Holding Ltd. Consumer Discretionary 6.9
Tencent Holdings Ltd. Communication Services 6.6
HDFC Bank Limited Financials 4.2
Ping An Insurance (Group) Company of China, Ltd. Class H Financials 4.0
Prosus N.V. Class N Consumer Discretionary 3.1
Samsung SDI Co., Ltd Information Technology 2.6
A-Living Services Co. Ltd. Class H Industrials 2.6
GDS Holdings Ltd. Sponsored ADR Class A Information Technology 2.3
Wuxi Biologics (Cayman) Inc. Health Care 2.0
POYA International Co., Ltd. Consumer Discretionary 2.0
Top 10 Total 36.3
These are not recommendations to buy or sell any security. Holdings may vary.

Country Weightings (%) as of 08/31/20

Country % of Net Assets
China
43.2
India
9.5
South Africa
5.4
Taiwan
5.3
Brazil
5.3
South Korea
5.2
Philippines
3.3
Russia
3.1
Turkey
2.4
Egypt
2.3
Indonesia
2.2
Mexico
2.0
Other EM
8.7
Cash
2.0

Investment Style Box

image Investment style box diagram illustrating the investment strategy of the Emerging Markets Fund

This investment style box is based on the Fund's overall targeted capitalization range and relative valuation as determined by VanEck.

Sector Weightings (%)
as of 08/31/20

Sector % of Net Assets
Consumer Discretionary 31.2
Financials 20.0
Communication Services 16.3
Information Technology 10.1
Health Care 6.8
Industrials 6.5
Consumer Staples 2.8
Real Estate 2.4
Energy 1.9
Materials 0.0
Cash 2.0

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(10/03/03)
VanEck Emerging Markets Fund: Class C
At Net Asset Value 3.90 18.97 1.37 11.67 2.55 7.24 4.64 --
At Maximum 1% Sales Charge 2.90 17.97 0.37 10.67 2.55 7.24 4.64 --
MSCI EM IMI2 2.40 19.97 0.32 14.09 2.47 8.21 3.60 --
MSCI EM Index2 2.21 19.53 0.45 14.49 2.83 8.66 3.76 --
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(10/03/03)
VanEck Emerging Markets Fund: Class C
At Net Asset Value 8.28 24.73 -7.74 -2.04 2.41 1.96 4.43 --
At Maximum 1% Sales Charge 7.28 23.73 -8.66 -3.01 2.41 1.96 4.43 --
MSCI EM IMI2 7.51 18.93 -10.09 -3.97 1.35 2.35 3.11 --
MSCI EM Index2 7.35 18.08 -9.78 -3.39 1.90 2.86 3.27 --

Important Disclosure

Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics.

* The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. The information herein represents the opinion of the author(s), but not necessarily those of VanEck.

NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase.  No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge.  See the prospectus and summary prospectus for more information.

*Other expenses of Class Z are based on estimated amounts for the current fiscal year.

1Van 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, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 1.60% for Class A, 2.50% for Class C, 1.00% for Class I, 1.10% for Class Y, and 0.90% for Class Z of the Fund’s average daily net assets per year until May 1, 2021. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

2The MSCI Emerging Markets Investment Market Index (MSCI EM IMI) is a free float-adjusted market capitalization index that is designed to capture large-, mid- and small-cap representation across emerging markets countries. The Morgan Stanley Capital International (MSCI) Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

The views and opinions expressed are those of VanEck. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to the risks associated with its investments in Chinese issuers, communication services sectors, direct investments, emerging market securities which tends to be more volatile and less liquid than securities traded in developed countries, foreign currency transactions, foreign securities, other investment companies, Stock Connect, management, market, operational, restricted securities, sectors and small- and medium-capitalization companies risks . The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, or political, economic or social instability.

Investing involves risk, including possible loss of principal. Please call 800.826.2333 or visit vaneck.com for a free prospectus and summary prospectus. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read the prospectus and summary prospectus carefully before investing.