HYEMVanEck Vectors Emerging Markets High Yield Bond ETF
Fund Description
The VanEck Vectors® Emerging Markets High Yield Bond ETF (HYEM®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE BofA Diversified High Yield US Emerging Markets Corporate Plus Index (EMLH), which 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.
-
Fund Ticker
HYEM -
Exchange
NYSE Arca -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
EMLH -
Index Rebalancing
Monthly -
2020 Preliminary NAIC
4.B
Designation9
as of 04/09/21
-
30-Day SEC Yield1
5.01% -
Total Net Assets
$773.3M -
Number of Holdings
854 -
Options
Expected -
Gross Expense Ratio2
0.47% -
Net Expense Ratio/TER2
0.40% -
Distribution Frequency
Monthly
Key Points
- Focuses solely on the non-sovereign segment of the high yield emerging markets bond market
- Yield pickup and currently lower duration versus U.S. high yield corporate bonds7
- Adds issuer and country diversification to a U.S.-only high yield exposure8
Yield
as of 04/09/21
-
30-Day SEC Yield1
5.01% -
Distribution Yield1
5.54% -
12-Month Yield1
5.35%
Fees & Expenses2
-
Management Fee
0.40% -
Other Expenses
0.07% -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.47% -
Fee Waivers andExpense Reimbursement
-0.07% -
Net Expense Ratio/TER2
0.40%
Trading Information
-
Fund Ticker
HYEM -
Index Total Return Ticker
EMLH -
NAV
HYEMNV -
Intraday NAV (IIV)5
HYEMIV -
Shares Outstanding
32,900,000 -
Estimated Cash
HYEMEU -
Total Cash
HYEMTC -
CUSIP
92189F353 -
ISIN
US92189F3534
Fundamentals4
as of 04/09/21
-
Yield to Worst
5.31% -
Yield to Maturity
5.64% -
Effective Duration (yrs)
3.20 -
Years to Maturity
5.42 -
Modified Duration (yrs)
3.57 -
Coupon
6.12%
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 04/09/21
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 05/08/12** |
|
---|---|---|---|---|---|---|---|---|
HYEM (NAV) | -0.75 | 0.19 | 0.19 | 26.07 | 5.22 | 6.64 | -- | 5.50 |
HYEM (Share Price) | -0.81 | 0.07 | 0.07 | 25.35 | 5.48 | 6.69 | -- | 5.57 |
EMLH (Index)** | -0.75 | -0.10 | -0.10 | 27.60 | 5.54 | 7.14 | -- | 6.10 |
Performance Differential (NAV - Index) | 0.00 | 0.29 | 0.29 | -1.53 | -0.32 | -0.50 | -- | -0.60 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 05/08/12** |
|
---|---|---|---|---|---|---|---|---|
HYEM (NAV) | -0.75 | 0.19 | 0.19 | 26.07 | 5.22 | 6.64 | -- | 5.50 |
HYEM (Share Price) | -0.81 | 0.07 | 0.07 | 25.35 | 5.48 | 6.69 | -- | 5.57 |
EMLH (Index)** | -0.75 | -0.10 | -0.10 | 27.60 | 5.54 | 7.14 | -- | 6.10 |
Performance Differential (NAV - Index) | 0.00 | 0.29 | 0.29 | -1.53 | -0.32 | -0.50 | -- | -0.60 |
Top 10 Holdings (%) as of 03/31/21 Daily Holdings
to view
full data
Holding Name |
Coupon
|
Maturity |
Country†
|
Currency
|
% of Net Assets |
|
---|---|---|---|---|---|---|
TEVA PHARMACEUTICAL FINANCE NETHERLANDS |
3.150
|
10/01/2026
|
Israel
|
USD
|
0.74 | |
TEVA PHARMACEUTICAL FINANCE NETHERLANDS |
2.800
|
07/21/2023
|
Israel
|
USD
|
0.66 | |
SOUTHERN GAS CORRIDOR CJSC |
6.875
|
03/24/2026
|
Azerbaijan
|
USD
|
0.60 | |
SBERBANK OF RUSSIA VIA SB CAPITAL SA |
5.125
|
10/29/2022
|
Russia
|
USD
|
0.58 | |
CEMEX SAB DE CV |
3.875
|
07/11/2031
|
Mexico
|
USD
|
0.48 | |
FIRST QUANTUM MINERALS LTD |
7.250
|
04/01/2023
|
Zambia
|
USD
|
0.46 | |
SASOL FINANCING USA LLC |
5.875
|
03/27/2024
|
South Africa
|
USD
|
0.45 | |
BBVA BANCOMER SA/TEXAS |
6.750
|
09/30/2022
|
Spain
|
USD
|
0.45 | |
DP WORLD SALAAM |
6.000
|
07/01/2169
|
Uae
|
USD
|
0.44 | |
FIRST QUANTUM MINERALS LTD |
6.875
|
10/15/2027
|
Zambia
|
USD
|
0.44 | |
Top 10 Total (%) | 5.30 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%) as of 03/31/21
-
Country
% of Net Assets -
■
China
12.51 -
■
Brazil
9.75 -
■
Turkey
7.95 -
■
Mexico
6.75 -
■
India
6.55 -
■
Russia
5.14 -
■
South Africa
3.75 -
■
Israel
3.71 -
■
Argentina
3.41 -
■
United States
3.12 -
■
Colombia
2.96 -
■
Uae
2.41 -
■
Indonesia
2.37 -
■
Singapore
2.07 -
■
Zambia
1.82 -
■
Oman
1.45 -
■
Ukraine
1.40 -
■
Peru
1.38 -
■
Azerbaijan
1.32 -
■
Bahrain
1.32 -
■
Other/Cash
18.86
Currency Exposure (%)
as of 03/31/21
-
U.S. Dollar
99.72 -
Other/Cash
0.28
Sector Weightings (%) as of 03/31/21
-
Sector
% of Net Assets -
■
Financials
42.7 -
■
Energy
11.9 -
■
Basic Materials
11.1 -
■
Industrials
7.5 -
■
Real Estate
6.0 -
■
Utilities
5.0 -
■
Consumer Non-Cyclicals
4.2 -
■
Technology
3.8 -
■
Healthcare
3.3 -
■
Consumer Cyclicals
3.2 -
■
Government Activity
0.8 -
■
Academic & Educational Services
0.0 -
■
Other/Cash
0.4
Credit Quality (%) as of 03/31/21
Composite | % of Net Assets | |
---|---|---|
Non-Investment Grade | BB | 58.36 |
B | 29.90 | |
CCC | 9.44 | |
CC | 0.19 | |
Total Non-Investment Grade | -- | 97.89 |
Not Rated | -- | 1.84 |
Maturity (%) as of 03/31/21
Average Portfolio Maturity: 5.44 Years