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FLTR
VanEck IG Floating Rate ETF

Fund Description

VanEck IG Floating Rate ETF (FLTR®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Investment Grade Floating Rate Index (MVFLTR), which consists of U.S. dollar denominated floating rate notes issued by corporate issuers and rated investment grade.

 
 

  • Fund Ticker

    FLTR

  • Exchange

    NYSE Arca

  • Inception Date

    04/25/2011

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Index Ticker

    MVFLTR

  • Index Rebalancing

    Monthly

  • 2022 Preliminary NAIC Designation8

    1.G

  as of 06/01/23

  • 30-Day SEC Yield1

    5.90%

  • Total Net Assets

    $1.1B

  • Number of Holdings

    131

  • Options

    No

  • Gross Expense Ratio2

    0.14%

  • Net Expense Ratio/TER2

    0.14%

  • Distribution Frequency

    Monthly

  • Next Distribution Date

    05/31/2023
1,2,8 See Important Disclosure.
Schedule a Call
Fund FAQ
How to Buy

Key Documents and Links

FLTR Fact Sheet
Summary Prospectus
Management Team

Fund Highlights

  • Potential to Benefit from Rising Rates7
    Floating rate notes have variable coupons that reset periodically
  • Investment Grade Credit Quality
    Underlying index is comprised of a non-leveraged portfolio of investment grade floating rate corporate bonds
  • Near-Zero Duration with Enhanced Yield Potential
    Floating rate notes may offer higher yields than other short duration instruments

Yield as of 06/01/23

  • 30-Day SEC Yield1

    5.90%

  • Distribution Yield1

    6.15%

  • 12-Month Yield1

    4.42%

Fees and Expenses2

  • Management Fee

    0.14%

  • Other Expenses

    --

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.14%

  • Fee Waivers and
    Expense Reimbursement

    --

  • Net Expense Ratio/TER2

    0.14%

2 Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least September 1, 2023.

Morningstar™ Ratings3 as of 04/30/2023

Category Overall 3 Year 5 Year
Ultrashort Bond

3 Morningstar Ratings: When applicable, ratings shown when the ETF is rated three stars or more for any given period. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

© Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Trading Information

  • Fund Ticker

    FLTR

  • Index Total Return Ticker

    MVFLTR

  • NAV

    FLTRNV

  • Intraday NAV (IIV)5

    FLTRIV

  • Shares Outstanding

    44,850,000

  • Estimated Cash

    FLTREU

  • Total Cash

    FLTRTC

  • CUSIP

    92189F486

  • ISIN

    US92189F4862
5See IIV Details. Source: Bloomberg

Fundamentals4 as of 06/01/23

  • Yield to Worst

    6.15

  • Yield to Maturity

    6.21

  • Years to Maturity

    3.76

  • Modified Duration (yrs)

    0.03

  • Coupon

    5.92

  • Spread Duration (yrs)

    2.23
 4See Important Disclosure for definitions.

Investment Professionals

  • Head of Fixed Income ETF Portfolio Management
  • 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
  • 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
  • Deputy Portfolio Manager for non-taxable Fixed Income ETFs
  • Oversees quantitative analysis and optimization processes for the fixed income ETFs
  • Joined VanEck in 2016
  • Prior to her current positions, served as quantitative analyst
  • CFA charter holder; member of CFA Society New York
  • MS, Financial Engineering, Baruch College; BBA, Finance, Baruch College
  • 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 06/01/23

NAV/
Market
Price 		Volume
30-Day Avg./
Last Trading Day 		Daily Change
NAV/
Last Price 		YTD Change NAV/
Last Price 		Premium/
Discount 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
FLTR $25.08
$25.10 		460,521
243,705 		$-0.11 / -0.42%
$-0.11 / -0.44% 		+2.72%
+2.76% 		$0.02
0.07% 		0.04%

Premium/Discount History as of 06/01/23

Calendar Year 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 Premium/Discount Charts NAV & Prem/Discount History
FLTR Days closed at a premium 102 27 16 16 44
Days closed at NAV 24 4 1 6 2
Days closed at a discount 125 31 47 41 16

Performance History: Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 0.83 0.94 2.23 3.61 2.39 2.02 1.68 1.59
FLTR (Share Price) 0.97 0.91 2.23 3.66 2.48 2.00 1.67 1.60
MVFLTR (Index) 0.77 0.92 2.22 3.30 2.43 2.13 1.95 1.90
Performance Differential (NAV - Index) 0.06 0.02 0.01 0.31 -0.04 -0.11 -0.27 -0.31
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) -0.70 1.39 1.39 2.67 3.26 1.96 1.61 1.53
FLTR (Share Price) -0.94 1.25 1.25 2.59 3.55 1.92 1.57 1.53
MVFLTR (Index) -0.64 1.44 1.44 2.45 3.36 2.08 1.89 1.85
Performance Differential (NAV - Index) -0.06 -0.05 -0.05 0.22 -0.10 -0.12 -0.28 -0.32

*Returns less than one year are not annualized.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

The "Net Asset Value" (NAV) of a Fund is determined at the close of each business day, and represents the dollar 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 shares at NAV.

Top 10 Holdings (%) as of 04/30/23

Daily Holdings
Total Holdings: 151
Holding Name
Coupon
 Maturity
Country‡
Currency
 % of Net
Assets
Jpmorgan Chase & Co
5.755
02/24/2028
United States
USD
2.25
Commonwealth Bank Of Australia
5.238
07/07/2025
Australia
USD
2.05
Verizon Communications Inc
5.964
05/15/2025
United States
USD
2.03
Truist Financial Corp
4.976
06/09/2025
United States
USD
2.03
Bank Of America Corp
5.576
02/05/2026
United States
USD
2.02
Goldman Sachs Group Inc/The
6.034
05/15/2026
United States
USD
2.01
Goldman Sachs Group Inc/The
7.023
10/28/2027
United States
USD
1.99
General Electric Co
5.186
05/05/2026
United States
USD
1.87
Citigroup Inc
5.855
02/24/2028
United States
USD
1.73
Bank Of America Corp
5.625
02/04/2028
United States
USD
1.63
Top 10 Total (%) 19.63
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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

‡See Country of Risk disclosure. 

Country Weightings (%)
as of 04/30/23

Country % of Net Assets
● United States 63.98
● Australia 9.05
● United Kingdom 8.43
● Japan 6.67
● Canada 4.44
● France 1.97
● Netherlands 1.87
● Switzerland 1.71
● Spain 0.41
● Norway 0.38
● Germany 0.35
● China 0.20
● Other/Cash 0.55

Currency Exposure (%) as of 04/30/23

U.S. Dollar 99.45
Other/Cash 0.55

Sector Weightings (%)
as of 04/30/23

Sector % of Net Assets
● Financials 86.14
● Technology 5.74
● Industrials 2.54
● Consumer Non-Cyclicals 1.87
● Utilities 1.02
● Consumer Cyclicals 0.83
● Healthcare 0.78
● Energy 0.31
● Real Estate 0.20
● Other/Cash 0.55

Credit Quality (%)† as of 04/30/23

Composite % of Net Assets
Investment Grade AA 10.59
A 54.73
BBB 34.68
Total Investment Grade -- 100.00
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Maturity (%)
as of 04/30/23

Average Portfolio Maturity: 3.55 Years

Maturity (%)

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