International Investors Gold FundINIVX

  • Daily Price   as of 09/29/16

    NAV DAILY CHANGE
    $12.08 $-0.06 / -0.5%
  • Class A Details: INIVX

    INCEPTION DATE GROSS/NET EXPENSES1
    02/10/56 1.43%/1.43%
  • Country Weightings (%) as of 08/31/16

    Country % of Net Assets
    Canada
    65.7
    United States
    13.6
    Australia
    12.0
    Mexico
    4.1
    United Kingdom
    3.2
    Cash
    1.4
  • Sector Weightings (%)
    as of 08/31/16

    Sector % of Net Assets
    Gold 85.9
    Precious Metals & Minerals 5.3
    Silver 5.1
    Diversified Metals & Mining 1.8
    Other 0.5
    Cash 1.4
  • Top 10 Holdings (%) 

    Holdings Sector % of Net Assets
    Agnico-Eagle Mines Limited Gold 5.3
    B2Gold Corp. Gold 5.3
    Newmont Mining Corporation Gold 4.7
    Fresnillo PLC Precious Metals & Minerals 4.1
    Goldcorp Inc. Gold 4.0
    Royal Gold Inc. Gold 3.9
    Tahoe Resources Inc. Gold 3.2
    SEMAFO Inc. Gold 3.2
    Randgold Resources Limited Gold 3.2
    Evolution Mining Limited Gold 3.1
    Top 10 Total 40.0
    Holdings Sector % of Net Assets
    B2Gold Corp. Gold 5.5
    Agnico-Eagle Mines Limited Gold 5.2
    Newmont Mining Corporation Gold 4.0
    Fresnillo PLC Precious Metals & Minerals 4.0
    Goldcorp Inc. Gold 3.8
    Royal Gold Inc. Gold 3.6
    Tahoe Resources Inc. Gold 3.5
    Randgold Resources Limited Gold 3.5
    Alamos Gold Inc. Gold 3.0
    Evolution Mining Limited Gold 3.0
    Top 10 Total 39.1

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

  • Fund Details 
    as of 08/31/16

    • Net Assets (All Classes)
      $760.7M
    • Number of Holdings
      58
    • Avg. Wtd. Market Cap
      $2.3B
    • Turnover Rate (2015)
      45.2%
    • P/B (LTM)*
      1.6
    • Benchmark Index2
      NYSE Arca Gold Miners (GDMNTR) Index

    *Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

  • Production Level Breakdown (%) as of 08/31/16

    Market Capitalization % of Net Assets
    Senior/Majors (1.5 - 6.0M oz.) 22.1%
    Mid-Tiers (0.3M - 1.5M oz.) 42.8%
    Juniors (<0.3M oz.) 35.1%
    Average Weighted Market Cap $2.3B
    Market Capitalization % of Net Assets

    Portfolio production level classifications are determined by VanEck’s Gold and Precious Metals Investment Team.

  • Three-Year Risk Measures & Statistics 
    as of 08/31/16

    Volatility (Standard Deviation) 45.30
    Sharpe Ratio 0.00
    Alpha vs. NYSE Arca Gold Miners Index 1.99
    Beta vs. NYSE Arca Gold Miners Index 0.95
    R-squared vs. NYSE Arca Gold Miners Index 96.15
    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.
  • Narrowing the Universe

    Narrowing the Gold Equities Universe 
    This graphic is for illustrative purposes only, and the Fund's portfolio construction process may change over time.
  • Gold Fund Portfolio Construction

    Type of Company Target Number of Holdings Individual Holding Range Target Fund Allocations
    Medium- to Large-Cap Gold Top 10 3.5% to 10% 50%
    Small-Cap Gold or Silver 20-40 0.5% to 3% 10-40%
    Medium- to Large-Cap
    Gold, Silver (non-top 10)
    20-30 0.5% to 3.5% 10-40%

    This table is for illustrative purposes only, and the Fund's portfolio construction process may change over time. This table shows the typical holding and allocation range for VanEck International Investors Gold Fund. We employ a bottom-up process that searches for: 1) organic growth; 2) value; 3) acquisition targets; and 4) strong Management. In addition, we then employ our top-down macro process that: 1) adjusts weightings to match gold price outlook; 2) seeks to increase beta with positive outlook (unhedged producers, high-cost producers, juniors); and 3) seeks to decrease gold beta with negative outlook (hedged producers, large-cap stocks, gold vehicles including bullion, ETFs, structured notes)

  • Industry Benchmarks: Know Your Indices

    • The NYSE Arca Gold Miners (GDMNTR) Index (the "Index") is a Net Total Return modified market capitalization weighted index comprised of publicly traded companies primarily involved in the mining of gold and silver in locations around the world.
    • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.
    • All indices listed are unmanaged and are not securities in which investments can be made.
  • Important Disclosure

    Portfolio facts and statistics are shown for Class A shares only unless otherwise noted; 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 and summary prospectus for more information.

    1Expenses are calculated for the 12-month period ending 05/01/16: Class A: Gross 1.43% and Net 1.43%; Class C: Gross 2.22 and Net 2.20%; Class I: Gross 1.07% and Net 1.00%; and Class Y: Gross 1.21% and Net 1.10%. Expenses are capped contractually through 05/01/17 at 1.45% for Class A; 2.20% for Class C; 1.00% for Class I; and 1.10% for Class Y. Caps exclude certain expenses, such as interest.

    2The NYSE Arca Gold Miners (GDMNTR) Index (the "Index") is a Net Total Return modified market capitalization weighted index comprised of publicly traded companies primarily involved in the mining of gold and silver in locations around the world. The U.S. Dollar Index (DXY) indicates the general international value of the U.S. dollar. The DXY does this by averaging the exchange rates between the U.S. dollar and six major world currencies. 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 the risks associated with concentrating its assets in the gold industry, which can be significantly affected by international economic, monetary and political developments. The Fund’s overall portfolio may decline in value due to developments specific to the gold industry. 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. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities, CMOs and small- or mid-cap companies. 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 and summary prospectus for information on these as well as other risk considerations.

    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.