GRNBVanEck Vectors Green Bond ETF
Market Updates*
- Green bonds finance projects that have a positive impact on the environment, and allow investors to integrate sustainability into their core fixed income portfolios without significantly impacting the overall risk/return profile.
- GRNB’s index currently has an average yield of 1.54%, compared to the Bloomberg Barclays U.S. Aggregate Bond Index yield of 1.17%, as of January 29, 2021.
- Issuance this year has been dampened due to a near market shutdown earlier this year due to the pandemic, but has recovered sharply and may still meet or exceed last year’s record of $257bn (Source: Climate Bonds Initiative). Green stimulus spending, progress on market standards and strong investor demand are driving market development.
Fund Description
VanEck Vectors® Green Bond ETF (GRNB®) seeks to replicate, as closely as possible, before fees and expenses, the price and yield performance of the S&P Green Bond U.S. Dollar Select Index (SPGRUSST). The index is comprised of U.S. dollar-denominated green bonds that are issued to finance environmentally friendly projects, and includes bonds issued by supranational, government, and corporate issuers globally.
-
Fund Ticker
GRNB -
Exchange
NYSE Arca -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
SPGRUSST -
Index Rebalancing
Monthly
as of 04/14/21
-
30-Day SEC Yield1
1.69% -
Total Net Assets
$84.0M -
Number of Holdings
252 -
Options
Expected -
Gross Expense Ratio2
0.83% -
Net Expense Ratio/TER2
0.20% -
Distribution Frequency
Monthly
Key Points
- Access bonds issued to finance projects that have a positive impact on the environment
- An ESG solution for a core bond portfolio
- Index includes only U.S. dollar-denominated bonds designated as “green” by the Climate Bonds Initiative
Yield
as of 04/14/21
-
30-Day SEC Yield1
1.69% -
Distribution Yield1
1.84% -
12-Month Yield1
2.12%
Fees & Expenses2
-
Management Fee
0.35% -
Other Expenses
0.48% -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.83% -
Fee Waivers andExpense Reimbursement
-0.63% -
Net Expense Ratio/TER2
0.20%
Trading Information
-
Fund Ticker
GRNB -
Index Total Return Ticker
SPGRUSST -
NAV
GRNBNV -
Intraday NAV (IIV)5
GRNBIV -
Shares Outstanding
3,100,000 -
Estimated Cash
GRNBEU -
Total Cash
GRNBTC -
CUSIP
92189F171 -
ISIN
US92189F1710
Fundamentals4
as of 04/13/21
-
Yield to Worst
1.87% -
Yield to Maturity
1.94% -
Effective Duration (yrs)
5.23 -
Years to Maturity
7.01 -
Modified Duration (yrs)
5.47 -
Coupon
2.85%
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 04/14/21
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 03/03/17 |
|
---|---|---|---|---|---|---|---|---|
GRNB (NAV) | -1.10 | -2.46 | -2.46 | 5.10 | 1.77 | -- | -- | 3.83 |
GRNB (Share Price) | -1.22 | -2.66 | -2.66 | 4.81 | 1.79 | -- | -- | 3.92 |
SPGRUSST (Index) | -1.10 | -2.50 | -2.50 | 5.84 | 2.31 | -- | -- | 4.46 |
Performance Differential (NAV - Index) | 0.00 | 0.04 | 0.04 | -0.74 | -0.54 | -- | -- | -0.63 |
Bloomberg Barclays US Aggregate Bond Index | -1.25 | -3.37 | -3.37 | 0.71 | 4.65 | 3.10 | 3.44 | 3.86 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 03/03/17 |
|
---|---|---|---|---|---|---|---|---|
GRNB (NAV) | -1.10 | -2.46 | -2.46 | 5.10 | 1.77 | -- | -- | 3.83 |
GRNB (Share Price) | -1.22 | -2.66 | -2.66 | 4.81 | 1.79 | -- | -- | 3.92 |
SPGRUSST (Index)** | -1.10 | -2.50 | -2.50 | 5.84 | 2.31 | -- | -- | 4.46 |
Performance Differential (NAV - Index) | 0.00 | 0.04 | 0.04 | -0.74 | -0.54 | -- | -- | -0.63 |
Bloomberg Barclays US Aggregate Bond Index | -1.25 | -3.37 | -3.37 | 0.71 | 4.65 | 3.10 | 3.44 | 3.86 |
Top 10 Holdings (%) as of 03/31/21 Daily Holdings
to view
full data
Holding Name |
Coupon
|
Maturity |
Country†
|
Currency
|
% of Net Assets |
|
---|---|---|---|---|---|---|
FANNIE MAE-ACES |
3.555
|
09/25/2028
|
United States
|
USD
|
2.19 | |
KREDITANSTALT FUER WIEDERAUFBAU |
1.750
|
09/14/2029
|
Germany
|
USD
|
2.08 | |
CHILE GOVERNMENT INTERNATIONAL BOND |
3.500
|
01/25/2050
|
Chile
|
USD
|
1.35 | |
BANK OF AMERICA CORP |
3.499
|
05/17/2022
|
United States
|
USD
|
1.31 | |
APPLE INC |
3.000
|
06/20/2027
|
United States
|
USD
|
1.31 | |
INTERNATIONAL FINANCE CORP |
2.125
|
04/07/2026
|
Supra-National
|
USD
|
1.10 | |
EUROPEAN INVESTMENT BANK |
2.125
|
04/13/2026
|
Supra-National
|
USD
|
1.07 | |
SOUTHERN POWER CO |
4.150
|
12/01/2025
|
United States
|
USD
|
1.03 | |
CHILE GOVERNMENT INTERNATIONAL BOND |
2.550
|
01/27/2032
|
Chile
|
USD
|
1.02 | |
VERIZON COMMUNICATIONS INC |
3.875
|
02/08/2029
|
United States
|
USD
|
1.02 | |
Top 10 Total (%) | 13.48 |
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 -
■
United States
34.55 -
■
China
14.98 -
■
Supra-National
11.53 -
■
Germany
4.29 -
■
Netherlands
4.28 -
■
South Korea
3.73 -
■
India
3.33 -
■
Brazil
2.82 -
■
Chile
2.73 -
■
Indonesia
2.51 -
■
Singapore
1.95 -
■
Canada
1.66 -
■
Spain
1.41 -
■
United Kingdom
1.28 -
■
Japan
1.27 -
■
Uae
1.10 -
■
Sweden
0.87 -
■
France
0.83 -
■
Norway
0.63 -
■
Saudi Arabia
0.63 -
■
Other/Cash
3.63
Currency Exposure (%)
as of 03/31/21
-
U.S. Dollar
100.05 -
Other/Cash
-0.05
Sector Weightings (%) as of 03/31/21
-
Sector
% of Net Assets -
■
Financials
47.0 -
■
Utilities
19.3 -
■
Real Estate
7.0 -
■
Government Activity
4.9 -
■
Industrials
4.4 -
■
Technology
3.3 -
■
Basic Materials
2.8 -
■
Energy
1.3 -
■
Government
1.2 -
■
Consumer Cyclicals
0.9 -
■
Healthcare
0.6 -
■
Consumer Non-Cyclicals
0.3 -
■
Academic & Educational Services
0.2 -
■
Other/Cash
6.7
Credit Quality (%) as of 03/31/21
Composite | % of Net Assets | |
---|---|---|
Investment Grade | AAA | 17.61 |
AA | 12.78 | |
A | 24.41 | |
BBB | 22.22 | |
Non-Investment Grade | BB | 8.51 |
B | 1.72 | |
Total Investment Grade | -- | 77.03 |
Total Non-Investment Grade | -- | 10.23 |
Not Rated | -- | 12.79 |
Maturity (%) as of 03/31/21
Average Portfolio Maturity: 6.91 Years