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 27 Jan 2020

  • NAV1

    112.71
  • Shares Outstanding

    176,000
  • Number of Holdings

    197
  • Base Currency

    USD
  • Net Assets

    $19.8M
  • 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 23 Jan 2020

  • Yield to Worst

    5.19%
  • Yield to Maturity

    5.41%
  • Effective Duration (yrs)

    3.62
  • Years to Maturity

    5.15
  • Modified Duration (yrs)

    3.98
  • Coupon

    6.14%
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 27 Jan 2020

Exchange TickerHYEM
ISINIE00BF541080
SEDOLBF3W0R4
BloombergHYEM LN
Reuters (RIC)HYEM.L
Telekurs40992308
Bloomberg iNAVHYEMUSIV
Reuters iNAVHYEMINAV=SOLA
WKNA2JEMH
Trading CurrencyUSD
Last Traded Price113.30
Day's Move-0.21
Volume0
30 Day Volume118
VWAP Volume0
Exchange TickerHYGB
ISINIE00BF541080
SEDOLBF3W0S5
BloombergHYGB LN
Reuters (RIC)HYGB.L
Telekurs40992308
Bloomberg iNAVHYEMUSIV
Reuters iNAVHYEMINAV=SOLA
WKNA2JEMH
Trading CurrencyGBP
Last Traded Price86.74
Day's Move-0.10
Volume62
30 Day Volume40
VWAP Volume62
Exchange TickerHY3M
ISINIE00BF541080
SEDOL--
BloombergHY3M GY
Reuters (RIC)HY3M.DE
Telekurs40992308
Bloomberg iNAVHYEMEUIV
Reuters iNAVHYEMEURINAV=SOLA
WKNA2JEMH
Trading CurrencyEUR
Last Traded Price102.98
Day's Move-0.08
Volume350
30 Day Volume133
VWAP Volume350
Exchange TickerHYEM
ISINIE00BF541080
SEDOL--
BloombergHYEM SE
Reuters (RIC)HYEM.S
Telekurs40992308
Bloomberg iNAVHYEMUSIV
Reuters iNAVHYEMINAV=SOLA
WKNA2JEMH
Trading CurrencyCHF
Last Traded Price109.96
Day's Move0.00
Volume0
30 Day Volume11
VWAP Volume0
Exchange TickerHYEM
ISINIE00BF541080
SEDOL--
BloombergHYEM IM
Reuters (RIC)HYEM.MI
Telekurs40992308
Bloomberg iNAVHYEMEUIV
Reuters iNAVHYEMEURINAV=SOLA
WKNA2JEMH
Trading CurrencyEUR
Last Traded Price102.92
Day's Move-0.08
Volume111
30 Day Volume1,271
VWAP Volume111

NAVs as of 27 Jan 2020

Base
Currency
NAV Daily
Change
NAV
YTD
Change
NAV
NAV Price
History
Total
Expense
Ratio
HYEM USD $112.71 $-0.15 / -0.13% +1.18%
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) 1.94 3.99 13.68 13.68 -- -- -- 6.24
EMLH (Index) 1.92 4.23 12.98 12.98 5.88 7.53 7.55 5.51
Performance Differential (NAV - Index) 0.02 -0.24 0.70 0.70 -- -- -- 0.73
1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF (NAV) 1.94 3.99 13.68 13.68 -- -- -- 6.24
EMLH (Index) 1.92 4.23 12.98 12.98 5.88 7.53 7.55 5.51
Performance Differential (NAV - Index) 0.02 -0.24 0.70 0.70 -- -- -- 0.73

Top 10 Holdings (%) View All Holdings » as of 31 Dec 2019

Total Holdings: 159
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
Bank Of East Asia Ltd/The
5.875
19 Sep 2167
BB
China
USD
1.7188
Agile Group Holdings Ltd
8.500
18 Jul 2021
BB-
China
USD
1.4438
Emirates Nbd Bank Pjsc
6.125
20 Sep 2167
B+
United Arab Emirates
USD
1.4142
State Oil Co Of The Azerbaijan Republic
4.750
13 Mar 2023
BB
Azerbaijan
USD
1.4094
Easy Tactic Ltd
8.125
27 Feb 2023
BB-
China
USD
1.3949
Rkpf Overseas 2019 A Ltd
6.700
30 Sep 2024
BB-
China
USD
1.3939
Cifi Holdings Group Co Ltd
6.550
28 Mar 2024
BB-
China
USD
1.3802
Jsw Steel Ltd
5.950
18 Apr 2024
BB
India
USD
1.3768
Azure Power Solar Energy Pvt Ltd
5.650
24 Dec 2024
BB
India
USD
1.3719
Mong Duong Finance Holdings Bv
5.125
07 May 2029
BB-
Vietnam
USD
1.365
Top 10 Total (%) 14.25
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 31 Dec 2019

  • Country

    % of Net Assets
  • China

    14.81
  • Turkey

    9.07
  • Brazil

    8.83
  • Argentina

    6.04
  • India

    5.39
  • Russia

    5.06
  • Mexico

    4.54
  • South Africa

    4.38
  • Israel

    3.04
  • United States

    2.84
  • Uae

    2.80
  • Kazakhstan

    2.70
  • Indonesia

    2.63
  • Colombia

    2.50
  • Ukraine

    1.98
  • Azerbaijan

    1.81
  • Zambia

    1.72
  • Peru

    1.40
  • Vietnam

    1.37
  • Oman

    1.36
  • Spain

    1.36
  • Chile

    1.24
  • Singapore

    0.86
  • Bahrain

    0.77
  • Cyprus

    0.72
  • Nigeria

    0.72
  • Georgia

    0.71
  • Virgin Islands

    0.71
  • Luxembourg

    0.71
  • United Kingdom

    0.69
  • Bermuda

    0.66
  • Costa Rica

    0.64
  • Guatemala

    0.43
  • Qatar

    0.40
  • Trinidad And Tobago

    0.37
  • South Korea

    0.34
  • Netherlands

    0.34
  • Switzerland

    0.32
  • Ghana

    0.30
  • Greece

    0.26
  • Other/Cash

    3.18

Currency Exposure (%)
as of 31 Dec 2019

  • U.S. Dollar

    96.82
  • Other/Cash

    3.18

Sector Weightings (%) as of 31 Dec 2019

  • Sector

    % of Net Assets
  • Financial

    33.4
  • Energy

    15.9
  • Basic Materials

    10.9
  • Consumer, Non-cyclical

    7.9
  • Industrial

    6.9
  • Utilities

    6.6
  • Communications

    6.5
  • Consumer, Cyclical

    3.7
  • Government

    3.6
  • Diversified

    1.6
  • Other/Cash

    3.2

Credit Quality (%) as of 31 Dec 2019

Composite % of Net Assets
Investment Grade BBB 0.67
Non-Investment Grade BB 63.11
B 24.51
CCC 7.82
C 0.04
Total Investment Grade -- 0.67
Total Non-Investment Grade -- 95.49
Not Rated -- 0.55
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 Dec 2019

 Average Maturity: 5.34 Years

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