Global Hard Assets FundGHAAX

  • Daily Price   as of 08/26/16

    NAV DAILY CHANGE
    $34.81 $-0.10 / -0.3%
  • Class A Details: GHAAX

    INCEPTION DATE GROSS/NET EXPENSES1
    11/02/94 1.36%/1.36%
  • Country Weightings (%) as of 07/31/16

    Country % of Net Assets
    United States
    67.9
    Canada
    21.8
    United Kingdom
    4.1
    Switzerland
    3.8
    Bermuda
    0.5
    Monaco
    0.3
    Kuwait
    0.1
    Cash
    1.5
  • Sector Weightings (%)
    as of 07/31/16

    Sector % of Net Assets
    Oil Gas & Consumable Fuels 44.9
    Metals & Mining 33.0
    Energy Equipment & Services 13.0
    Chemicals 3.6
    Paper & Forest Products 2.0
    Road & Rail 1.0
    Unassigned 0.7
    Electrical Equipment 0.3
    Cash 1.5
  • Top 10 Holdings (%) 

    Holdings Sector % of Net Assets
    Pioneer Natural Resources Company Oil, Gas & Consumable Fuels 4.9
    Agnico-Eagle Mines Limited Metals & Mining 4.7
    Concho Resources Inc. Oil, Gas & Consumable Fuels 4.1
    Cimarex Energy Co. Oil, Gas & Consumable Fuels 4.1
    Diamondback Energy Inc. Oil, Gas & Consumable Fuels 3.9
    Newfield Exploration Company Oil, Gas & Consumable Fuels 3.9
    Halliburton Company Energy Equipment & Services 3.9
    Glencore plc Metals & Mining 3.8
    EOG Resources Inc. Oil, Gas & Consumable Fuels 3.8
    Parsley Energy Inc. Class A Oil, Gas & Consumable Fuels 3.6
    Top 10 Total 40.7
    Holdings Sector % of Net Assets
    Agnico-Eagle Mines Limited Metals & Mining 4.9
    Pioneer Natural Resources Company Oil, Gas & Consumable Fuels 4.7
    Cimarex Energy Co. Oil, Gas & Consumable Fuels 4.1
    Halliburton Company Energy Equipment & Services 4.1
    Newfield Exploration Company Oil, Gas & Consumable Fuels 4.1
    Concho Resources Inc. Oil, Gas & Consumable Fuels 4.0
    Diamondback Energy Inc. Oil, Gas & Consumable Fuels 3.9
    EOG Resources Inc. Oil, Gas & Consumable Fuels 3.9
    Schlumberger NV Energy Equipment & Services 3.6
    Parsley Energy Inc. Class A Oil, Gas & Consumable Fuels 3.5
    Top 10 Total 40.8

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

  • Fund Details 
    as of 07/31/16

    • Net Assets (All Classes)
      $2489.6M
    • Number of Holdings
      45
    • Avg. Wtd. Market Cap
      $10.7B
    • Turnover Rate (2015)
      25.9%
    • P/E (LTM) / P/E (Forward)*
      37.7 / 38.7
    • P/B (LTM)*
      1.7
    • Benchmark Index
      S&P North American Natural Resources Sector (SPGINRTR) Index

    *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.

  • Market Capitalization Breakdown (%) as of 07/31/16

    Market Capitalization % of Net Assets
    Large (>= $10 billion) 54.9%
    Mid (< $10 billion >= $2 billion) 41.6%
    Small (< $2 billion) 3.5%
    Average Weighted Market Cap $10.7B
    Market Capitalization % of Net Assets

    Market capitalization (cap) is the value of a corporation as determined by the market price of its issued and outstanding common stock.

  • Three-Year Risk Measures and Statistics 
    as of 07/31/16

    Volatility (Standard Deviation) 24.14
    Sharpe Ratio -0.33
    Alpha vs. SPGINRTR Index -2.90
    Beta vs. SPGINRTR Index 1.15
    R-squared vs. SPGINRTR Index 94.47
    Source: VanEck and FactSet.
    Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.
  • Industry Benchmarks: Know Your Indices

    • The S&P North American Natural Resources Sector (SPGINRTR) Index (the “Index”) provides investors with a benchmark that represents U.S. traded securities that are classified under the GICS® energy and materials sector excluding the chemicals industry; and steel sub-industry.

    • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.

    • The S&P® Goldman Sachs Commodity Index (SPGSCITR) is a composite index of commodity sector returns, representing an unleveraged, long-only investment in commodity futures. High energy concentration; limited diversification. The index benefits when energy is strong, and suffers when energy is weak.

    • The Bloomberg Commodity Index (BCOM) is composed of futures contracts on 20 physical commodities covering seven sectors, specifically energy, petroleum, precious metals, industrial metals, grains, livestock and softs. Energy exposure is limited to no more than 33%; the manager cannot invest above that level no matter how favorable the energy market.

    All indices listed are unmanaged and are not securities in which investments can be made.

  • Sector Weights (%): Fund vs. Industry Benchmarks 
    as of 12/31/15

    VANECK GLOBAL HARD ASSETS FUND (CLASS A) INDUSTRY BENCHMARKS
    2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 SPGINRTR BCOM SPGSCITR
    Energy 65.1 54.2 61.2 59.0 63.0 65.6 57.4 58.8 72.1 59.1 65.0 83.9 29.8 58.4
    Precious Metals 13.1 14.8 13.6 20.3 13.7 12.3 15.3 13.4 6.6 9.4 12.9 4.5 17.0 4.2
    Base Metals 11.9 17.9 13.9 9.3 14.7 15.6 13.4 15.4 10.5 14.3 8.5 2.1 15.5 8.9
    Agriculture/Timber 6.7 3.9 1.8 2.5 2.6 0.9 3.6 1.2 3.2 4.8 9.2 5.2 37.7 28.5
    Other 0.3 7.8 6.6 2.8 2.0 0.9 1.5 4.0 3.1 4.8 1.2 4.3 -- --
    Cash/Equivalents 2.9 1.4 2.9 6.1 4.0 4.7 8.8 7.2 4.5 7.6 3.3 -- -- --

    This table is updated once annually. Please note the information in this table represents the Fund’s current implementation of its investment strategy and this implementation may change at any time and from time to time. It is not intended to be a forecast of future events, a guarantee of future results or investment advice. 

    SPGINRTR sector weightings shown are month-end weightings as of December 31, 2015. 

    BCOM sector weightings shown here are approximate weightings as of December 31, 2015.

    SPGSCITR sector weightings shown here are month-end weightings as of November 30, 2015.

  • Important Disclosure

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

    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 for more information.

    1Expenses are calculated for the 12-month period ending 05/01/16: Class A: Gross 1.36% and Net 1.36%; Class C: Gross 2.16% and Net 2.16%; Class I: Gross 1.04% and Net 1.00%; and Class Y: Gross 1.15% and Net 1.13%. Expenses are capped contractually through 05/01/17 at 1.38% for Class A; 2.20% for Class C; 1.00% for Class I; and 1.13% for Class Y. Caps exclude certain expenses, such as interest.

    2The S&P North American Natural Resources Sector (SPGINRTR) Index (the "Index") provides investors with a benchmark that represents U.S. traded securities that are classified under the GICS® energy and materials sector excluding the chemicals industry; and steel sub-industry. The MSCI ACWI Commodity Producers Index captures the global opportunity set of commodity producers in the energy, metal and agricultural sectors. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

    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 risks associated with concentrating its investments in hard assets and the hard assets sector, including real estate, precious metals and natural resources, and can be significantly affected by events relating to these industries, including international political and economic developments, inflation, and other factors. The Fund’s portfolio securities may experience substantial price fluctuations as a result of these factors, and may move independently of the trends of industrialized companies. 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, including the takeover of property without adequate compensation or imposition of prohibitive taxation. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities and CMOs. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk, leverage risk, credit risk and counterparty risk. Please see the prospectus for information on these and other risk considerations.

    Investing involves risk, including possible loss of principal. 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 them carefully before investing.