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IHY
VanEck International High Yield Bond ETF

Fund Description

The VanEck International High Yield Bond ETF (IHY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE BofA Global ex-US Issuers High Yield Constrained Index (HXUS), which is comprised of U.S. dollar, Canadian dollar, pound sterling, and euro denominated below investment grade corporate bonds issued by non-U.S. corporations in the major domestic or Eurobond markets.

 
 

  • Fund Ticker

    IHY
  • Exchange

    NYSE Arca
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    HXUS
  • Index Rebalancing

    Monthly
  • 2021 Preliminary NAIC
    Designation7

    4.A

 
as of 10/18/21

  • 30-Day SEC Yield1

    3.72%
  • Total Net Assets

    $110.8M
  • Number of Holdings

    867
  • Options

    Available
  • Gross Expense Ratio2

    0.40%
  • Net Expense Ratio/TER2

    0.40%
  • Distribution Frequency

    Monthly
1, 2, 7 See Important Disclosure

Key Points

Diversified non-U.S. high yield exposure
International high yield bonds represent over 45% of the global high-yield market8
Higher credit quality
Historically lower default rates than U.S. high-yield bonds9
Reduced interest rate risk
Historically lower duration than U.S. high-yield bonds10

Yield
as of 10/18/21

  • 30-Day SEC Yield1

    3.72%
  • Distribution Yield1

    4.31%
  • 12-Month Yield1

    4.61%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    --
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.40%
  • Fee Waivers and
    Expense Reimbursement

    --
  • Net Expense Ratio/TER2

    0.40%
2Van 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.

Trading Information

  • Fund Ticker

    IHY
  • Index Total Return Ticker

    HXUS
  • NAV

    IHYNV
  • Intraday NAV (IIV)5

    IHYIV
  • Shares Outstanding

    4,500,000
  • Estimated Cash

    IHYEU
  • Total Cash

    IHYTC
  • CUSIP

    92189F445
  • ISIN

    US92189F4458
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 10/15/21

  • Yield to Worst

    4.31%
  • Yield to Maturity

    4.76%
  • Effective Duration (yrs)

    3.62
  • Years to Maturity

    11.37
  • Modified Duration (yrs)

    4.39
  • Coupon

    4.98%
 4 See Important Disclosure for definitions.

Investment Professionals

  • 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
  • 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
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2016
  • 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 10/18/21

NAV/
Market Price
Volume
30-Day Avg./
Last Trading Day
Daily Change
NAV/
Last Price
YTD Change
NAV/
Last Price
Premium/
Discount
Prem/Discount
Distribution Charts
NAV &
Prem/Discount
History
30-Day
Median
Bid Ask
Spread
NAV
Chart
IHY $24.63
$24.60
28,736
29,920
$0.07 / +0.27%
$0.06 / +0.24%
-1.49%
-1.58%
$-0.03
-0.11%
0.24%

Premium/Discount History as of 10/18/21

Calendar Year 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 71 25 37 41 34
IHY Days closed at NAV 17 4 2 5 7
Days closed at a discount 165 35 22 17 23


Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) -1.88 -1.85 -0.58 6.78 5.65 5.01 -- 5.20
IHY (Share Price) -2.37 -2.49 -0.94 6.41 5.64 4.90 -- 5.17
HXUS (Index) -1.82 -1.74 -0.43 7.88 6.26 5.69 -- 5.91
Performance Differential (NAV - Index) -0.06 -0.11 -0.15 -1.10 -0.61 -0.68 -- -0.71
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) -1.88 -1.85 -0.58 6.78 5.65 5.01 -- 5.20
IHY (Share Price) -2.37 -2.49 -0.94 6.41 5.64 4.90 -- 5.17
HXUS (Index) -1.82 -1.74 -0.43 7.88 6.26 5.69 -- 5.91
Performance Differential (NAV - Index) -0.06 -0.11 -0.15 -1.10 -0.61 -0.68 -- -0.71

Top 10 Holdings (%) as of 09/30/21 Daily Holdings

Total Holdings: 869
Swipe
to view
full data
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
BANK OF COMMUNICATIONS CO LTD
3.800
11/18/2169
China
USD
0.38
PETROLEOS MEXICANOS
7.690
01/23/2050
Mexico
USD
0.36
UNICREDIT SPA
6.950
10/31/2022
Italy
EUR
0.35
SOFTBANK GROUP CORP
6.250
04/15/2028
Japan
USD
0.34
VODAFONE GROUP PLC
3.100
01/03/2079
United Kingdom
EUR
0.33
NEXI SPA
1.750
10/31/2024
United Kingdom
EUR
0.32
TEVA PHARMACEUTICAL FINANCE NETHERLANDS
3.150
10/01/2026
Israel
USD
0.30
KWG GROUP HOLDINGS LTD
5.875
11/10/2024
China
USD
0.29
ALTICE FRANCE SA/FRANCE
8.125
02/01/2027
Luxembourg
USD
0.29
SASOL FINANCING USA LLC
5.875
03/27/2024
South Africa
USD
0.28
Top 10 Total (%) 3.24

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 09/30/21

  • Country

    % of Net Assets
  • United Kingdom

    10.17
  • Italy

    7.88
  • China

    7.65
  • Brazil

    7.19
  • France

    6.71
  • Germany

    6.05
  • Canada

    5.90
  • Luxembourg

    4.85
  • Mexico

    4.35
  • Spain

    3.65
  • Netherlands

    2.76
  • Turkey

    2.34
  • India

    2.23
  • United States

    1.95
  • Colombia

    1.95
  • Japan

    1.94
  • Israel

    1.92
  • Russia

    1.66
  • South Africa

    1.01
  • Ireland

    0.97
  • Other/Cash

    16.89

Currency Exposure (%)
as of 09/30/21

  • U.S. Dollar

    55.13
  • Euro

    37.98
  • British Pound

    4.40
  • Canadian Dollar

    1.06
  • Other/Cash

    1.43

Sector Weightings (%) as of 09/30/21

  • Sector

    % of Net Assets
  • Financials

    31.7
  • Technology

    12.3
  • Industrials

    12.3
  • Energy

    10.3
  • Basic Materials

    7.6
  • Consumer Cyclicals

    7.1
  • Utilities

    5.3
  • Real Estate

    4.9
  • Consumer Non-Cyclicals

    3.7
  • Healthcare

    3.0
  • Other/Cash

    1.9

Credit Quality (%) as of 09/30/21

Composite % of Net Assets
Investment Grade BBB 0.18
Non-Investment Grade BB 60.03
B 24.44
CCC 4.46
CC 0.05
C 0.29
Total Investment Grade -- 0.18
Total Non-Investment Grade -- 89.27
Not Rated -- 10.54
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 09/30/21

 Average Portfolio Maturity: 11.48 Years