CBONVanEck China Bond ETF
Fund Description
The VanEck China Bond ETF (CBON®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ChinaBond China High Quality Bond Index (CHQU01TR), which is comprised of fixed-rate, Renminbi ("RMB")-denominated bonds issued in the People's Republic of China by Chinese credit, governmental and quasi-governmental (e.g., policy banks) issuers.
-
Fund Ticker
CBON -
Exchange
NYSE Arca -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
CHQU01TR -
Index Rebalancing
Monthly
as of 01/26/22
-
30-Day SEC Yield1
2.32% -
Total Net Assets
$137.1M -
Number of Holdings
96 -
Options
Expected -
Gross Expense Ratio2
0.68% -
Net Expense Ratio/TER2
0.50% -
Distribution Frequency
Monthly
Key Points
- Yield Premium
Attractive yield pickup over developed markets bonds
- Portfolio Diversifier
RMB denominated bonds have historically exhibited low correlation to other asset classes*
- Access to the world’s second largest bond market
Broad exposure to bonds issued by the central government, policy banks and corporations
Yields
as of 01/26/22
-
30-Day SEC Yield1
2.32% -
Distribution Yield1
6.35% -
12-Month Yield1
3.02%
Fees & Expenses2
-
Management Fee
0.40% -
Other Expenses
0.28% -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.68% -
Fee Waivers andExpense Reimbursement
-0.18% -
Net Expense Ratio/TER2
0.50%
Trading Information
-
Fund Ticker
CBON -
Index Total Return Ticker
CHQU01TR -
NAV
CBONNV -
Intraday NAV (IIV)5
CBONIV -
Shares Outstanding
5,500,000 -
Estimated Cash
CBONEU -
Total Cash
CBONTC -
CUSIP
92189F379 -
ISIN
US92189F3799
Fundamentals4
as of 01/25/22
-
Yield to Maturity
2.89% -
Coupon
3.65% -
Modified Duration (yrs)
4.21 -
Years to Maturity
6.78
Investment Professionals
Francis G. Rodilosso, CFA
- Portfolio Manager and Head of Fixed Income ETFs
- Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
- Joined VanEck in 2012
- Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
- Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
- CFA charterholder; member of CFA Society New York
- MBA (with distinction), Finance, University of Pennsylvania
- AB, History, Princeton University
Daniel Cho
- Associate Portfolio Manager for Fixed Income ETFs
- Joined VanEck in 2013
- Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
- MS, Finance, University of Rochester
- BS, Information Sciences and Technology, Pennsylvania State University
Stephanie Wang
- Associate Portfolio Manager for Fixed Income ETFs
- Joined VanEck in 2016
- MS, Financial Engineering, Baruch College
- BBA, Finance, Baruch College
Jared Model
- Senior Trader, Portfolio Analyst for Fixed Income ETFs
- Joined VanEck in 2017
- Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
- MBA, Finance, Montclair State University
- BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont
Prices as of 01/26/22
$0.02 / +0.10% 
$0.00 / +0.00%Performance History: Average Annual Total Returns* (%)
| 1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 11/10/14 |
|
|---|---|---|---|---|---|---|---|---|
| CBON (NAV) | 0.67 | 2.47 | 6.33 | 6.33 | 6.66 | 5.61 | -- | 3.02 |
| CBON (Share Price) | 0.53 | 2.46 | 6.18 | 6.18 | 6.93 | 5.88 | -- | 3.04 |
| CHQU01TR (Index) | 0.74 | 2.83 | 7.49 | 7.49 | 7.14 | 6.38 | -- | 3.94 |
| Performance Differential (NAV - Index) | -0.07 | -0.36 | -1.16 | -1.16 | -0.48 | -0.77 | -- | -0.92 |
| 1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 11/10/14 |
|
|---|---|---|---|---|---|---|---|---|
| CBON (NAV) | 0.67 | 2.47 | 6.33 | 6.33 | 6.66 | 5.61 | -- | 3.02 |
| CBON (Share Price) | 0.53 | 2.46 | 6.18 | 6.18 | 6.93 | 5.88 | -- | 3.04 |
| CHQU01TR (Index) | 0.74 | 2.83 | 7.49 | 7.49 | 7.14 | 6.38 | -- | 3.94 |
| Performance Differential (NAV - Index) | -0.07 | -0.36 | -1.16 | -1.16 | -0.48 | -0.77 | -- | -0.92 |
Top 10 Holdings (%) as of 12/31/21 Daily Holdings
to view
full data
| Holding Name |
Coupon
|
Maturity |
Country‡
|
Currency
|
% of Net Assets |
|---|---|---|---|---|---|
| China Government Bond |
3.400 |
04/17/2023 |
China |
CNY |
9.35 |
| China Development Bank |
3.870 |
08/01/2023 |
China |
CNY |
5.39 |
| China Government Bond |
3.270 |
08/22/2046 |
China |
CNY |
4.25 |
| Beijing State-Owned Capital Operation A |
3.850 |
01/14/2024 |
China |
CNY |
3.36 |
| China Development Bank |
4.590 |
08/01/2038 |
China |
CNY |
3.05 |
| China Development Bank |
3.390 |
02/03/2027 |
China |
CNY |
2.83 |
| Yankuang Energy Group Co Ltd |
3.430 |
03/12/2025 |
China |
CNY |
2.64 |
| Chemchina Petrochemical Co Ltd |
4.000 |
11/06/2024 |
China |
CNY |
2.58 |
| Beijing Automotive Group Co Ltd |
4.480 |
10/19/2023 |
China |
CNY |
2.52 |
| Shandong Hi-Speed Group Co Ltd |
4.000 |
10/21/2024 |
China |
CNY |
2.25 |
| Top 10 Total (%) | 38.21 | ||||
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%) as of 12/31/21
-
Country
% of Net Assets -
■
China
95.75 -
■
Other/Cash
4.25
Currency Exposure (%)
as of 12/31/21
-
Chinese Renminbi
95.75 -
Other/Cash
4.25
Sector Weightings (%) as of 12/31/21
-
Sector
% of Net Assets -
■
Financials
40.5 -
■
Industrials
15.6 -
■
Government Activity
14.8 -
■
Basic Materials
9.1 -
■
Utilities
7.2 -
■
Energy
5.7 -
■
Real Estate
2.1 -
■
Consumer Cyclicals
0.6 -
■
Other/Cash
4.2
Maturity (%) as of 12/31/21
Average Portfolio Maturity: 6.74 Years