Emerging Markets Bonds

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HYEM
VanEck Vectors Emerging Markets High Yield Bond UCITS ETF

Fund Description: The VanEck Vectors Emerging Markets High Yield Bond UCITS ETF (HYEM) is a UCITS-compliant exchange-traded fund that invests in a portfolio of bond securities with the aim of providing investment returns that closely track the performance of the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index (EMLH). 

Index Description: The ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index is comprised of U.S. dollar-denominated bonds issued by non-sovereign emerging markets issuers that are rated below investment grade and that are issued in the major domestic and Eurobond markets. 

Management Style: Optimized

 
 

  • Fund Ticker

    HYEM
  • Management Company

    VanEck Investments Ltd
  • Custodian

    State Street Custodial Services (Ireland) Limited
  • Domicile

    Ireland
  • UCITS Compliant

    YES
  • Index Ticker

    EMLH
  • Index Provider

    ICE Data Indices, LLC
  • Rebalance Frequency

    Monthly
  • Inception Date2

    20 Mar 2018
1The "Net Asset Value" (NAV) of all ETFs is determined at the close of each business day, and represents the 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. Investors should not expect to buy or sell ETF shares at NAV.

2The date the fund was launched prior to quotation on the stock exchange.

 
as of 08 Apr 2020

  • NAV1

    94.70
  • Shares Outstanding

    196,000
  • Number of Holdings

    233
  • Base Currency

    USD
  • Net Assets

    $18.6M
  • Product Structure

    Physical (Optimized)
  • Distribution Frequency

    None
  • Income Treatment

    Reinvestment
  • Total Expense Ratio

    0.40%
  • Fact Sheet
  • ETF Product List
afm_english_risicoscore_3.jpg

Key Points

  • Focuses solely on the non-sovereign segment of the high yield emerging markets bond market.

  • Currently higher average yield and lower average duration versus high yield U.S. corporate bonds.

  • Lower historical default rates compared to high yield U.S. corporate bonds.

Fundamentals3
as of 07 Apr 2020

  • Yield to Worst

    10.45%
  • Yield to Maturity

    10.44%
  • Effective Duration (yrs)

    3.64
  • Years to Maturity

    5.09
  • Modified Duration (yrs)

    3.75
  • Coupon

    6.13%
3These figures represent averages. 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. Modified Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. Duration to Worst measures the duration of a bond computed using the bond's nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. Spread Duration measures a bond's price sensitivity to a 100 basis point change to its option-adjusted spread. As the rate of the Treasury security in the option-adjusted spread increases, the rate of the option-adjusted spread also increases. 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 Yield to Worst do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

Trading Information as of 08 Apr 2020

Exchange Ticker HYEM
ISIN IE00BF541080
SEDOL BF3W0R4
Bloomberg HYEM LN
Reuters (RIC) HYEM.L
Telekurs 40992308
Bloomberg iNAV HYEMUSIV
Reuters iNAV HYEMINAV=SOLA
WKN A2JEMH
Trading Currency USD
Last Traded Price 95.86
Day's Move 0.43
Volume 0
30 Day Volume 725
VWAP Volume 0
Exchange Ticker HYGB
ISIN IE00BF541080
SEDOL BF3W0S5
Bloomberg HYGB LN
Reuters (RIC) HYGB.L
Telekurs 40992308
Bloomberg iNAV HYEMUSIV
Reuters iNAV HYEMINAV=SOLA
WKN A2JEMH
Trading Currency GBP
Last Traded Price 77.24
Day's Move -0.10
Volume 0
30 Day Volume 328
VWAP Volume 0
Exchange Ticker HY3M
ISIN IE00BF541080
SEDOL --
Bloomberg HY3M GY
Reuters (RIC) HY3M.DE
Telekurs 40992308
Bloomberg iNAV HYEMEUIV
Reuters iNAV HYEMEURINAV=SOLA
WKN A2JEMH
Trading Currency EUR
Last Traded Price 88.16
Day's Move 0.51
Volume 123
30 Day Volume 363
VWAP Volume 123
Exchange Ticker HYEM
ISIN IE00BF541080
SEDOL --
Bloomberg HYEM SE
Reuters (RIC) HYEM.S
Telekurs 40992308
Bloomberg iNAV HYEMUSIV
Reuters iNAV HYEMINAV=SOLA
WKN A2JEMH
Trading Currency CHF
Last Traded Price 93.18
Day's Move 0.00
Volume 0
30 Day Volume 435
VWAP Volume 0
Exchange Ticker HYEM
ISIN IE00BF541080
SEDOL --
Bloomberg HYEM IM
Reuters (RIC) HYEM.MI
Telekurs 40992308
Bloomberg iNAV HYEMEUIV
Reuters iNAV HYEMEURINAV=SOLA
WKN A2JEMH
Trading Currency EUR
Last Traded Price 88.15
Day's Move 0.46
Volume 86
30 Day Volume 684
VWAP Volume 86

NAVs as of 08 Apr 2020

Base
Currency
NAV Daily
Change
NAV
YTD
Change
NAV
NAV Price
History
Total
Expense
Ratio
HYEM USD $94.70 $0.32 / +0.34% -14.98%
0.40

Performance History: Average Annual Total Returns* (%)

1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) -15.24 -15.43 -15.43 -8.66 -- -- -- -2.90
EMLH (Index) -16.44 -16.35 -16.35 -10.58 -1.42 3.12 4.74 -4.00
Performance Differential (NAV - Index) 1.20 0.92 0.92 1.92 -- -- -- 1.10
1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) -15.24 -15.43 -15.43 -8.66 -- -- -- -2.90
EMLH (Index) -16.44 -16.35 -16.35 -10.58 -1.42 3.12 4.74 -4.00
Performance Differential (NAV - Index) 1.20 0.92 0.92 1.92 -- -- -- 1.10

Top 10 Holdings (%) View All Holdings » as of 31 Mar 2020

Total Holdings: 232
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
SOUTHERN GAS CORRIDOR CJSC
6.875
24 Mar 2026
BB
Azerbaijan
USD
1.3908
AGILE GROUP HOLDINGS LTD
8.500
18 Jul 2021
BB-
China
USD
1.1075
SBERBANK OF RUSSIA VIA SB CAPITAL SA
5.125
29 Oct 2022
BB+
Russia
USD
1.0996
STATE OIL CO OF THE AZERBAIJAN REPUBLIC
4.750
13 Mar 2023
BB
Azerbaijan
USD
1.0613
GREENLAND GLOBAL INVESTMENT LTD
6.750
25 Jun 2022
BB
China
USD
1.0516
SUNAC CHINA HOLDINGS LTD
7.950
11 Oct 2023
BB-
China
USD
1.0374
LS FINANCE 2025 LTD
4.500
26 Jun 2025
BB
China
USD
1.0313
NANYANG COMMERCIAL BANK LTD
5.000
02 Dec 2065
BB
China
USD
1.0150
CEMEX SAB DE CV
7.750
16 Apr 2026
BB
Mexico
USD
1.0142
KWG GROUP HOLDINGS LTD
7.875
01 Sep 2023
BB-
China
USD
1.0093
Top 10 Total (%) 10.81
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 31 Mar 2020

  • Country

    % of Net Assets
  • China

    14.37
  • Brazil

    10.09
  • Turkey

    9.27
  • Russia

    6.88
  • Argentina

    5.25
  • India

    4.70
  • Mexico

    3.51
  • South Africa

    3.51
  • Israel

    3.48
  • Colombia

    3.43
  • United States

    3.37
  • Indonesia

    2.93
  • Azerbaijan

    2.80
  • Uae

    2.75
  • Kazakhstan

    2.12
  • Ukraine

    2.01
  • Zambia

    1.82
  • Peru

    1.26
  • Singapore

    1.05
  • Spain

    0.98
  • Canada

    0.96
  • Vietnam

    0.94
  • Saudi Arabia

    0.86
  • Oman

    0.81
  • South Korea

    0.81
  • Bermuda

    0.76
  • Bahrain

    0.74
  • Chile

    0.69
  • Netherlands

    0.68
  • Luxembourg

    0.57
  • Georgia

    0.57
  • Virgin Islands

    0.56
  • United Kingdom

    0.49
  • Cyprus

    0.47
  • Nigeria

    0.45
  • Costa Rica

    0.44
  • Mauritius

    0.43
  • Ghana

    0.39
  • Qatar

    0.31
  • Guatemala

    0.29
  • Panama

    0.27
  • Trinidad And Tobago

    0.26
  • Switzerland

    0.24
  • Greece

    0.20
  • Other/Cash

    1.23

Currency Exposure (%)
as of 31 Mar 2020

  • U.S. Dollar

    98.77
  • Other/Cash

    1.23

Sector Weightings (%) as of 31 Mar 2020

  • Sector

    % of Net Assets
  • Financial

    33.6
  • Energy

    15.9
  • Basic Materials

    11.0
  • Consumer, Non-cyclical

    9.7
  • Communications

    8.0
  • Utilities

    6.0
  • Industrial

    5.6
  • Consumer, Cyclical

    5.5
  • Government

    2.5
  • Diversified

    1.0
  • Other/Cash

    1.2

Credit Quality (%) as of 31 Mar 2020

Composite % of Net Assets
Non-Investment Grade BB 65.33
B 25.65
CCC 7.64
C 0.13
Total Non-Investment Grade -- 98.76
Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 31 Mar 2020

 Average Maturity: 5.10 Years

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Performance data for the Irish domiciled funds is displayed on a Net Asset Value basis, in Base Currency terms, with net income reinvested, net of fees. Brokerage or transaction fees will apply. Performance data for the Dutch domiciled ETFs include income distributions gross of Dutch withholding tax, net of fees and assume that the Dutch dividend withholding tax levied from the dividend payment of the ETF will be deducted or reclaimed with the Dutch tax authority and is reinvested. Different investor types and investors from other jurisdictions may not be able to achieve the same level of performance due to their tax status and local tax rules. Brokerage or transaction fees will apply. The Dutch domiciled ETFs use a gross reinvestment index. Please note that the performance includes income distributions gross of Dutch withholding tax because Dutch investors deduct or reclaim the 15% Dutch withholding tax levied. Different investor types and investors from other jurisdictions may not be able to achieve the same level of performance due to their tax status and local tax rules. For more information please be referred to the respective fund’s performance section on this website.

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