IHY

VanEck International High Yield Bond ETF

Fact Sheet

Fund Profile

Summary Prospectus

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Why IHY

International High Yield ExposureProvides broad exposure to the non-U.S. high yield bond market

Attractive Credit Quality ProfileComparatively higher credit quality versus U.S. high yield bonds

Diversification Beyond U.S.Diversified income opportunities beyond a U.S.-only high yield bond allocation

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.

Yields as of 04/17/2026

Distribution Frequency

Monthly

30-Day SEC Yield

5.99%

Distribution Yield

6.58%

12 Month Yield

5.50%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck International High Yield Bond ETF would have been 5.99% on 04/17/26. Distributions may vary from time to time.

Performance

Average Annual Total Returns* (%)

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	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 04/02/12
IHY (NAV)	-3.10	-1.60	-1.60	7.73	8.10	1.72	4.08	4.12
IHY (Market Price)	-3.18	-1.66	-1.66	8.07	7.88	1.68	4.11	4.13
ICE BofAML Global ex-US Issuers High Yield Constrained Index (Index)	-3.18	-1.65	-1.65	7.70	9.04	2.20	4.67	4.75

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 04/02/12
IHY (NAV)	-3.10	-1.60	-1.60	7.73	8.10	1.72	4.08	4.12
IHY (Market Price)	-3.18	-1.66	-1.66	8.07	7.88	1.68	4.11	4.13
ICE BofAML Global ex-US Issuers High Yield Constrained Index (Index)	-3.18	-1.65	-1.65	7.70	9.04	2.20	4.67	4.75

*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.

Holdings

Daily Holdings (%) as of 04/17/2026

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Total Holdings: 593

Holding Name	% of Net Assets	Coupon	Maturity	Market Value (US$)
Electricite De France Sa	0.54	5.875	07/22/2064	273,192
Petroleos Mexicanos	0.51	7.690	01/23/2050	256,905
Petroleos Mexicanos	0.50	6.700	02/16/2032	255,360
Banco Bpm Spa	0.49	4.500	11/26/2036	245,887
Vmed O2 Uk Financing I Plc	0.47	4.500	07/15/2031	240,332
Telecom Italia Capital Sa	0.46	7.721	06/04/2038	234,528
Inpost Sa	0.46	4.000	04/01/2031	231,272
Mundys Spa	0.46	1.875	02/12/2028	230,919
Vz Vendor Financing Ii Bv	0.44	2.875	01/15/2029	223,115
Yapi Ve Kredi Bankasi As	0.43	9.250	10/16/2028	217,568
Fibercop Spa	0.41	7.721	06/04/2038	207,889
Dar Al-Arkan Sukuk Co Ltd	0.41	7.250	07/02/2030	207,575
Arada Sukuk 2 Ltd	0.41	8.000	06/24/2029	207,137
Intrum Investments And Financing Ab	0.40	8.500	09/11/2030	203,486
Cfamc Iii Co Ltd	0.40	4.250	11/07/2027	202,411
Samarco Mineracao Sa	0.40	9.500	06/30/2031	200,324
Softbank Group Corp	0.39	5.125	09/19/2027	198,923
Softbank Group Corp	0.39	6.875	01/10/2031	197,214
Binghatti Sukuk 2 Spv Ltd	0.38	7.750	07/02/2029	190,921
Upl Corp Ltd	0.37	4.625	06/16/2030	186,664
Grupo Nutresa Sa	0.35	9.000	05/12/2035	175,088
Nissan Motor Co Ltd	0.32	4.810	09/17/2030	163,965
Genmab A/S/Genmab Finance Llc	0.31	6.250	12/15/2032	159,140
Aroundtown Finance Sarl	0.31	7.875	11/07/2074	158,727
Banco Bradesco Sa/Cayman Islands	0.31	6.500	01/22/2030	158,665
Altice France Sa	0.30	7.250	11/01/2029	152,776
Vodafone Group Plc	0.30	8.000	08/30/2086	152,511
Belron Uk Finance Plc	0.30	5.750	10/15/2029	152,308
Petroleos Mexicanos	0.30	5.950	01/28/2031	149,668
Petroleos Mexicanos	0.29	6.625	06/15/2035	148,987
Nissan Motor Co Ltd	0.29	4.345	09/17/2027	148,401
Global Aircraft Leasing Co Ltd	0.29	8.750	09/01/2027	145,628
B&M European Value Retail Sa	0.29	8.125	11/15/2030	145,112
Edge Finco Plc	0.28	8.125	08/15/2031	142,097
Boots Group Finco Lp	0.28	7.375	08/31/2032	141,480
Electricite De France Sa	0.28	7.375	03/17/2075	141,447
Saavi Energia Sarl	0.27	8.875	02/10/2035	138,954
Dresdner Funding Trust I	0.27	8.151	06/30/2031	138,207
Jerrold Finco Plc	0.27	7.875	04/15/2030	136,834
Air France-Klm	0.27	8.125	05/31/2028	136,211
Lhmc Finco 2 Sarl	0.27	8.625	05/15/2030	135,206
Telefonica Europe Bv	0.27	6.750	09/07/2074	134,125
Cpi Property Group Sa	0.26	2.750	01/22/2028	132,629
Telefonica Europe Bv	0.26	6.135	05/03/2074	131,982
Teva Pharmaceutical Finance Netherlands	0.26	7.375	09/15/2029	131,961
Bayer Ag	0.26	7.000	09/25/2083	131,537
Webuild Spa	0.26	7.000	09/27/2028	130,083
Var Energi Asa	0.26	7.862	11/15/2083	130,045
Eurofins Scientific Se	0.26	6.750	12/31/2049	129,997
Bellis Acquisition Co Plc	0.26	8.125	05/14/2030	129,935
Fibercop Spa	0.26	7.875	07/31/2028	129,875
Luna 1.5 Sarl	0.26	10.500	07/01/2032	129,868
Alpha Bank Sa	0.26	6.000	09/13/2034	129,573
Heathrow Finance Plc	0.25	4.625	09/01/2029	128,698
Saipem Finance International Bv	0.25	4.875	05/30/2030	128,280
Zf North America Capital Inc	0.25	6.875	04/23/2032	127,554
Petroleos Mexicanos	0.25	6.750	09/21/2047	127,465
Accor Sa	0.25	7.250	04/11/2074	127,323
Petroleos Mexicanos	0.25	6.950	01/28/2060	127,290
Energo - Pro As	0.25	8.000	05/27/2030	127,283
Piraeus Bank Sa	0.25	5.375	09/18/2035	127,084
Prysmian Spa	0.25	5.250	12/31/2049	126,581
Alstom Sa	0.25	5.868	12/31/2049	126,277
Rci Banque Sa	0.25	5.500	10/09/2034	126,236
Iliad Sa	0.25	5.625	02/15/2030	126,182
Iho Verwaltungs Gmbh	0.25	8.750	05/15/2028	125,955
Edp Sa	0.25	4.750	05/29/2054	125,730
Celsa Opco Sa	0.25	8.250	12/15/2030	125,723
Iliad Sa	0.25	5.375	06/14/2027	125,656
Ams-Osram Ag	0.25	10.500	03/30/2029	125,592
Banca Ifis Spa	0.25	5.500	02/27/2029	125,572
British Telecommunications Plc	0.25	5.125	10/03/2054	125,454
Pinnacle Bidco Plc	0.25	8.250	10/11/2028	125,329
A2a Spa	0.25	5.000	12/31/2049	125,169
Picard Groupe Sas	0.25	6.375	07/01/2029	125,166
Amber Finco Plc	0.25	6.625	07/15/2029	125,076
Rossini Sarl	0.25	6.750	12/31/2029	125,055
Virgin Media Secured Finance Plc	0.25	4.250	01/15/2030	124,980
Telefonica Europe Bv	0.25	5.752	04/15/2075	124,872
Finnair Oyj	0.25	4.750	05/24/2029	124,801
Verisure Holding Ab	0.25	5.500	05/15/2030	124,735
Trivium Packaging Finance Bv	0.25	6.625	07/15/2030	124,597
Forvia Se	0.25	5.625	06/15/2030	124,593
Koninklijke Kpn Nv	0.25	6.000	12/21/2072	124,582
Techem Verwaltungsgesellschaft 675 Mbh	0.25	5.375	07/15/2029	124,493
Cheplapharm Arzneimittel Gmbh	0.25	7.125	06/15/2031	124,348
Boels Topholding Bv	0.25	5.750	05/15/2030	124,171
Banca Transilvania Sa	0.25	5.125	09/30/2030	124,155
Lottomatica Group Spa	0.25	5.375	06/01/2030	124,103
Schaeffler Ag	0.25	4.750	08/14/2029	124,084
Tereos Finance Groupe I Sa	0.25	7.250	04/15/2028	124,004
Eurobank Sa	0.24	4.250	04/30/2035	123,904
Nexans Sa	0.24	4.125	05/29/2029	123,773
Metro Ag	0.24	4.000	03/05/2030	123,743
Volvo Car Ab	0.24	4.250	05/31/2028	123,532
Forvia Se	0.24	5.500	06/15/2031	123,424
Unibail-Rodamco-Westfield Se	0.24	4.875	10/04/2075	123,416
Cma Cgm Sa	0.24	5.500	07/15/2029	123,302
Aegis Lux 1a Sarl	0.24	5.625	10/29/2031	123,034
Teva Pharmaceutical Finance Netherlands	0.24	4.125	06/01/2031	123,016
Eircom Finance Dac	0.24	5.000	04/30/2031	123,008
Tui Cruises Gmbh	0.24	5.000	05/15/2030	122,960
Ses Sa	0.24	4.875	06/24/2033	122,918
Tennet Holding Bv	0.24	4.875	04/01/2032	122,867
Fnac Darty Sa	0.24	6.000	04/01/2029	122,735
United Group Bv	0.24	6.500	10/31/2031	122,619
Veolia Environnement Sa	0.24	4.371	08/20/2075	122,602
Teva Pharmaceutical Finance Netherlands	0.24	4.375	05/09/2030	122,412
Essendi Sa	0.24	6.375	10/15/2029	122,338
New Immo Holding Sa	0.24	6.000	03/22/2029	122,214
Public Power Corp Sa	0.24	4.625	10/31/2031	122,130
Currenta Group Holdings Sarl	0.24	5.500	05/15/2030	121,890
Matterhorn Telecom Sa	0.24	4.500	01/30/2030	121,860
Engineering - Ingegneria Informatica -	0.24	11.125	05/15/2028	121,638
Iliad Holding Sas	0.24	5.375	04/15/2030	121,552
1011778 Bc Ulc / New Red Finance Inc	0.24	3.500	02/15/2029	121,320
Abertis Infraestructuras Finance Bv	0.24	4.870	02/28/2075	121,240
Azelis Finance Nv	0.24	4.750	09/25/2029	121,120
Ardonagh Finco Ltd	0.24	6.875	02/15/2031	121,103
Vivion Investments Sarl	0.24	6.500	02/28/2029	121,032
Softbank Group Corp	0.24	5.375	01/08/2029	121,018
Fressnapf Holding Se	0.24	5.250	10/31/2031	120,980
Ineos Finance Plc	0.24	6.625	05/15/2028	120,936
Opal Bidco Sas	0.24	5.500	03/31/2032	120,849
Teva Pharmaceutical Finance Netherlands	0.24	3.750	05/09/2027	120,661
New Immo Holding Sa	0.24	5.875	04/17/2028	120,593
Progroup Ag	0.24	5.375	04/15/2031	120,584
Mbh Bank Nyrt	0.24	5.250	01/29/2030	120,572
Gruenenthal Gmbh	0.24	4.125	05/15/2028	120,470
Edp Sa	0.24	4.625	09/16/2054	120,372
Nidda Healthcare Holding Gmbh	0.24	5.625	02/21/2030	120,365
Biffa Group Holdings Ltd	0.24	5.250	06/15/2031	120,214
Ses Sa	0.24	5.500	09/12/2054	120,176
Metlen Energy & Metals Sa	0.24	4.000	10/17/2029	120,154
Seche Environnement Saca	0.24	4.500	03/25/2030	120,146
Valeo Se	0.24	4.500	04/11/2030	120,043
Jaguar Land Rover Automotive Plc	0.24	4.500	07/15/2028	119,929
Verisure Midholding Ab	0.24	5.250	02/15/2029	119,712
Sunrise Finco I Bv	0.24	4.625	05/15/2032	119,672
Petroleos Mexicanos	0.24	4.750	02/26/2029	119,619
Schaeffler Ag	0.24	4.500	03/28/2030	119,582
Zf Europe Finance Bv	0.24	4.750	01/31/2029	118,965
Odido Holding Bv	0.23	3.750	01/15/2029	118,888
Schaeffler Ag	0.23	3.375	10/12/2028	118,717
Softbank Group Corp	0.23	5.000	04/15/2028	118,680
Ima Industria Macchine Automatiche Spa	0.23	3.750	01/15/2028	118,616
Heimstaden Bostad Ab	0.23	2.625	05/01/2071	118,385
Bayer Ag	0.23	3.125	11/12/2079	118,341
Market Bidco Finco Plc	0.23	6.750	01/31/2031	118,280
Nissan Motor Co Ltd	0.23	3.201	09/17/2028	118,268
Paprec Holding Sa	0.23	3.500	07/01/2028	118,240
Telenet Finance Luxembourg Notes Sarl	0.23	3.500	03/01/2028	118,237
Forvia Se	0.23	2.375	06/15/2027	118,084
Alstria Office Reit-Ag	0.23	5.500	03/20/2031	118,028
Mahle Gmbh	0.23	2.375	05/14/2028	117,943
United Group Bv	0.23	3.625	02/15/2028	117,937
Ngg Finance Plc	0.23	2.125	09/05/2082	117,767
Cidron Aida Finco Sarl	0.23	7.000	10/27/2031	117,731
Dufry One Bv	0.23	3.375	04/15/2028	117,606
Altice France Sa	0.23	5.625	07/15/2032	117,504
Flora Food Management Bv	0.23	6.875	07/02/2029	117,384
Electricite De France Sa	0.23	4.375	12/31/2049	117,214
Almaviva-The Italian Innovation Co Spa	0.23	5.000	10/30/2030	117,194
Grifols Sa	0.23	3.875	10/15/2028	117,020
Ecopetrol Sa	0.23	4.625	11/02/2031	116,791
Renault Sa	0.23	2.500	04/01/2028	116,699
Bulgarian Energy Holding Ead	0.23	2.450	07/22/2028	116,608
Cab Selas	0.23	3.375	02/01/2028	116,502
Edp Sa	0.23	4.375	12/02/2055	116,495
International Game Technology Plc	0.23	2.375	04/15/2028	116,416
Nomad Foods Bondco Plc	0.23	2.500	06/24/2028	116,374
Rexel Sa	0.23	2.125	06/15/2028	116,210
Verallia Sa	0.23	3.875	11/04/2032	116,128
Citycon Treasury Bv	0.23	5.375	07/08/2031	116,112
Infrastrutture Wireless Italiane Spa	0.23	3.750	04/01/2030	116,100
Altice Financing Sa	0.23	5.000	01/15/2028	115,619
Bcp V Modular Services Finance Ii Plc	0.23	4.750	11/30/2028	115,597
Poste Italiane Spa	0.23	2.625	06/24/2072	115,511
Ipd 3 Bv	0.23	5.500	06/15/2031	115,417
Telefonica Europe Bv	0.23	2.376	02/12/2170	115,334
Softbank Group Corp	0.23	4.000	09/19/2029	115,310
Altice France Sa	0.23	4.750	10/15/2030	115,214
Ineos Finance Plc	0.23	6.375	04/15/2029	115,202
Wintershall Dea Finance 2 Bv	0.23	3.000	01/20/2169	115,142
Eramet Sa	0.23	6.500	11/30/2029	114,778
Orsted As	0.23	1.750	12/09/2099	114,759
Lanxess Ag	0.23	1.750	03/22/2028	114,717
Vmed O2 Uk Financing I Plc	0.23	5.625	04/15/2032	114,381
Infrastrutture Wireless Italiane Spa	0.23	3.625	10/13/2032	113,982
Veolia Environnement Sa	0.22	2.500	04/20/2169	113,793
Telecom Italia Spa/Milano	0.22	1.625	01/18/2029	113,524
Zegona Finance Plc	0.22	6.750	07/15/2029	113,038
Allwyn Entertainment Financing Uk Plc	0.22	7.250	04/30/2030	112,975
Zf Europe Finance Bv	0.22	3.000	10/23/2029	112,957
Softbank Group Corp	0.22	3.375	07/06/2029	112,903
Valeo Se	0.22	1.000	08/03/2028	112,623
Loxam Sas	0.22	6.375	05/31/2029	112,177
Eg Global Finance Plc	0.22	12.000	11/30/2028	112,126
Teamsystem Spa	0.22	5.000	07/01/2031	112,115
Holding D'Infrastructures Des Metiers D	0.22	0.625	09/16/2028	111,641
Rakuten Group Inc	0.22	9.750	04/15/2029	109,857
Sasol Financing Usa Llc	0.22	8.750	05/03/2029	109,640
Vmed O2 Uk Financing I Plc	0.22	3.250	01/31/2031	109,499
Alpek Sab De Cv	0.21	3.250	02/25/2031	108,714
Yinson Bergenia Production Bv	0.21	8.498	01/31/2045	107,918
Pluspetrol Sa	0.21	8.500	05/30/2032	107,802
Turkiye Is Bankasi As	0.21	7.750	06/12/2029	107,771
Zegona Finance Plc	0.21	8.625	07/15/2029	107,653
Vedanta Resources Finance Ii Plc	0.21	9.475	07/24/2030	107,532
Mineral Resources Ltd	0.21	8.500	05/01/2030	107,285
Ecopetrol Sa	0.21	8.375	01/19/2036	107,252
Worldline Sa/France	0.21	5.250	11/27/2029	107,225
Maxam Prill Sarl	0.21	7.750	07/15/2030	106,731
Iliad Holding Sas	0.21	8.500	04/15/2031	106,692
Kioxia Holdings Corp	0.21	6.625	07/24/2033	106,654
Oztel Holdings Spc Ltd	0.21	6.625	04/24/2028	106,623
Ulker Biskuvi Sanayi As	0.21	7.875	07/08/2031	106,534
Akbank Tas	0.21	7.498	01/20/2030	106,476
Turk Telekomunikasyon As	0.21	7.375	05/20/2029	106,410
3r Lux Sarl	0.21	9.750	02/05/2031	106,376
Transnet/South Africa	0.21	8.250	02/06/2028	106,269
Turkcell Iletisim Hizmetleri As	0.21	7.450	01/24/2030	106,254
Digicel International Finance Ltd / Dif	0.21	8.625	08/01/2032	106,228
Seadrill Finance Ltd	0.21	8.375	08/01/2030	106,225
Petrobras Global Finance Bv	0.21	6.500	07/03/2033	106,093
Iho Verwaltungs Gmbh	0.21	7.750	11/15/2030	105,994
Gfl Environmental Inc	0.21	6.750	01/15/2031	105,989
Bapco Energies Bsc Closed	0.21	7.500	10/25/2027	105,963
Iifl Finance Ltd	0.21	8.750	07/24/2028	105,863
Delhi International Airport Ltd	0.21	6.450	06/04/2029	105,846
Turkiye Garanti Bankasi As	0.21	8.125	01/03/2035	105,748
Hta Group Ltd/Mauritius	0.21	7.500	06/04/2029	105,714
Ziggo Bond Co Bv	0.21	3.375	02/28/2030	105,655
Turkiye Vakiflar Bankasi Tao	0.21	8.994	10/05/2034	105,609
First Quantum Minerals Ltd	0.21	7.250	02/15/2034	105,322
Ecopetrol Sa	0.21	6.875	04/29/2030	104,987
Tc Ziraat Bankasi As	0.21	7.250	02/04/2030	104,661
Mineral Resources Ltd	0.21	7.000	04/01/2031	104,507
Stena International Sa	0.21	7.250	01/15/2031	104,489
Ardonagh Finco Ltd	0.21	7.750	02/15/2031	104,439
Ithaca Energy North Sea Plc	0.21	8.125	10/15/2029	104,383
Caixa Economica Federal	0.21	5.625	05/13/2030	104,306
Albion Financing 1 Sarl / Aggreko Holdi	0.21	7.000	05/21/2030	104,137
Turkiye Vakiflar Bankasi Tao	0.21	7.250	07/31/2030	104,125
Sierracol Energy Andina Llc/Sierracol E	0.21	9.000	11/14/2030	104,093
Muthoot Finance Ltd	0.21	6.375	04/23/2029	104,025
Azule Energy Finance Plc	0.21	8.250	01/22/2031	103,752
Azule Energy Finance Plc	0.21	8.125	01/23/2030	103,729
Bell Telephone Co Of Canada Or Bell Can	0.20	6.875	09/15/2055	103,718
Ivanhoe Mines Ltd	0.20	7.875	01/23/2030	103,663
Latam Airlines Group Sa	0.20	7.875	04/15/2030	103,631
Methanex Us Operations Inc	0.20	6.250	03/15/2032	103,595
Navoi Mining & Metallurgical Combinat	0.20	6.700	10/17/2028	103,210
Muangthai Capital Pcl	0.20	7.550	07/21/2030	103,195
Gc Treasury Center Co Ltd	0.20	6.500	06/10/2076	103,173
Banco Do Brasil Sa/Cayman	0.20	6.000	03/18/2031	103,035
Inversiones Cmpc Sa	0.20	6.700	12/09/2057	103,007
Turkiye Sinai Kalkinma Bankasi As	0.20	7.125	10/17/2029	102,983
Cpi Property Group Sa	0.20	1.750	01/14/2030	102,844
Fs Luxembourg Sarl	0.20	8.625	06/25/2033	102,823
Fortescue Treasury Pty Ltd	0.20	5.875	04/15/2030	102,504
Atos Se	0.20	7.398	12/18/2029	102,418
Rede D'Or Finance Sarl	0.20	6.450	09/09/2035	102,311
Wynn Macau Ltd	0.20	6.750	02/15/2034	102,158
Telus Corp	0.20	6.625	10/15/2055	102,027
Zf North America Capital Inc	0.20	7.500	03/24/2031	101,973
Nbm Us Holdings Inc	0.20	6.625	08/06/2029	101,924
Methanex Corp	0.20	5.250	12/15/2029	101,865
1011778 Bc Ulc / New Red Finance Inc	0.20	5.625	09/15/2029	101,775
Biocon Biologics Global Plc	0.20	6.670	10/09/2029	101,623
Central American Bottling Corp / Cbc Bo	0.20	5.250	04/27/2029	101,480
Tk Elevator Us Newco Inc	0.20	5.250	07/15/2027	101,392
Omgrid Funding Ltd	0.20	5.196	05/16/2027	101,275
Froneri Lux Finco Sarl	0.20	6.000	08/01/2032	101,154
Energuate Trust 2 0	0.20	6.350	09/15/2035	100,983
Avianca Midco 2 Plc	0.20	9.625	02/14/2030	100,637
Banco Btg Pactual Sa/Cayman Islands	0.20	5.500	01/27/2031	100,583
Wynn Macau Ltd	0.20	5.625	08/26/2028	100,557
Cerdia Finanz Gmbh	0.20	9.375	10/03/2031	100,446
Turkiye Ihracat Kredi Bankasi As	0.20	6.375	10/03/2030	100,363
Petrobras Global Finance Bv	0.20	5.125	09/10/2030	100,299
Melco Resorts Finance Ltd	0.20	5.375	12/04/2029	100,134
Motion Bondco Dac	0.20	6.625	11/15/2027	99,744
Bapco Energies Sukuk Ltd	0.20	5.250	04/08/2029	99,664
Atlantica Sustainable Infrastructure Lt	0.20	4.125	06/15/2028	99,533
Nova Securitisation Sarl	0.20	5.750	02/03/2031	99,439
Continuum Green Energy India Pvt / Co-I	0.20	7.500	06/26/2033	99,415
Globo Comunicacao E Participacoes S/A	0.20	5.500	01/14/2032	98,982
Gfl Environmental Inc	0.20	4.000	08/01/2028	98,950
Jsw Steel Ltd	0.20	5.050	04/05/2032	98,714
Emeria Sasu	0.20	7.750	03/31/2028	98,681
Mobico Group Plc	0.19	4.875	09/26/2031	98,632
Sunrise Finco I Bv	0.19	4.875	07/15/2031	97,649
San Miguel Industrias Pet Sa / Ng Pet R	0.19	3.750	08/02/2028	97,412
Studio City Finance Ltd	0.19	5.000	01/15/2029	97,171
Ion Platform Finance Us Inc / Ion Platf	0.19	9.500	05/30/2029	96,966
Constellium Se	0.19	3.750	04/15/2029	96,703
Canpack Sa / Canpack Us Llc	0.19	3.875	11/15/2029	96,678
Cpi Property Group Sa	0.19	1.500	01/27/2031	96,280
Ecopetrol Sa	0.19	7.375	09/18/2043	95,810
Vodafone Group Plc	0.19	4.125	06/04/2081	95,689
1011778 Bc Ulc / New Red Finance Inc	0.19	4.000	10/15/2030	95,452
Ziggo Bv	0.19	4.875	01/15/2030	95,185
Ion Platform Finance Us Inc / Ion Platf	0.19	8.750	05/01/2029	95,044
National Gas Co Of Trinidad & Tobago Lt	0.19	6.050	01/15/2036	94,112
Toucan Finco Ltd/Toucan Finco Can Inc/T	0.18	9.500	05/15/2030	92,444
Klabin Austria Gmbh	0.18	3.200	01/12/2031	91,630
Enfragen Energia Sur Sa / Enfragen Spai	0.18	5.375	12/30/2030	91,597
Ineos Quattro Finance 2 Plc	0.18	9.625	03/15/2029	91,372
Cerba Healthcare Saca	0.18	3.500	05/31/2028	89,818
Vmed O2 Uk Financing I Plc	0.18	4.750	07/15/2031	89,644
Ypf Sa	0.17	8.750	09/11/2031	87,203
Asg Finance Dac	0.17	9.750	05/15/2029	86,850
Paysafe Finance Plc / Paysafe Holdings	0.17	4.000	06/15/2029	86,691
Ecopetrol Sa	0.16	8.875	01/13/2033	83,405
Bombardier Inc	0.16	8.750	11/15/2030	83,201
Aegea Finance Sarl	0.16	7.625	01/20/2036	82,380
Vodafone Group Plc	0.16	5.125	06/04/2081	82,271
Telecom Argentina Sa	0.16	9.500	07/18/2031	82,091
Vista Energy Argentina Sau	0.16	8.500	06/10/2033	81,876
Nissan Motor Co Ltd	0.16	8.125	07/17/2035	80,986
Ecopetrol Sa	0.16	5.875	05/28/2045	80,650
Garda World Security Corp	0.16	8.375	11/15/2032	80,294
Connect Finco Sarl / Connect Us Finco L	0.16	9.000	09/15/2029	80,086
Pampa Energia Sa	0.16	7.875	12/16/2034	79,976
Csn Resources Sa	0.16	8.875	12/05/2030	79,866
Ypf Sa	0.16	8.500	06/27/2029	79,693
Tecpetrol Sa	0.16	7.625	11/03/2030	79,296
Panama Infrastructure Receivable Purcha	0.16	--	04/05/2032	79,255
Ecopetrol Sa	0.16	7.750	02/01/2032	79,248
Vodafone Group Plc	0.16	7.000	04/04/2079	78,964
Orbia Advance Corp Sab De Cv	0.16	5.875	09/17/2044	78,477
Rogers Communications Inc	0.15	7.125	04/15/2055	78,219
Ion Platform Finance Us Inc	0.15	7.875	09/30/2032	77,196
Teva Pharmaceutical Finance Netherlands	0.15	4.100	10/01/2046	77,118
Petrobras Global Finance Bv	0.15	6.250	01/10/2036	76,406
Sable International Finance Ltd	0.15	7.125	10/15/2032	76,007
Altice France Sa	0.15	6.500	03/15/2032	75,283
Ypf Sa	0.15	7.000	09/30/2033	75,080
Wynn Macau Ltd	0.15	5.125	12/15/2029	75,014
Ats Corp	0.15	4.125	12/15/2028	74,585
1011778 Bc Ulc / New Red Finance Inc	0.15	3.875	01/15/2028	74,005
Greenko Power Ii Ltd	0.15	4.300	12/13/2028	73,968
Vmed O2 Uk Financing I Plc	0.15	7.750	04/15/2032	73,940
Air Canada	0.15	4.625	08/15/2029	73,702
Petrobras Global Finance Bv	0.14	6.850	06/05/2115	73,117
Empresas Publicas De Medellin Esp	0.14	4.250	07/18/2029	71,911
Braskem Netherlands Finance Bv	0.14	8.500	01/12/2031	70,422
Open Text Corp	0.14	3.875	12/01/2029	70,039
Minerva Luxembourg Sa	0.14	4.375	03/18/2031	68,961
Aes Panama Generation Holdings Srl	0.13	4.375	05/31/2030	67,272
Star Energy Geothermal Wayang Windu Ltd	0.13	6.750	04/24/2033	66,918
Goeasy Ltd	0.13	7.375	10/01/2030	63,804
Petroleos Del Peru Sa	0.12	4.750	06/19/2032	62,723
Electricite De France Sa	0.12	9.125	12/15/2073	60,730
Petroleos Mexicanos	0.12	10.000	02/07/2033	59,895
Mong Duong Finance Holdings Bv	0.12	5.125	05/07/2029	58,746
Telus Corp	0.11	6.250	07/21/2055	57,706
Bombardier Inc	0.11	7.450	05/01/2034	57,273
Bell Telephone Co Of Canada Or Bell Can	0.11	5.625	03/27/2055	55,736
Petroleos Mexicanos	0.11	8.750	06/02/2029	55,375
Grupo Nutresa Sa	0.11	8.000	05/12/2030	54,967
Telecom Argentina Sa	0.11	9.250	05/28/2033	54,951
Yinson Boronia Production Bv	0.11	8.947	07/31/2042	54,555
Ecopetrol Sa	0.11	8.625	01/19/2029	54,464
Medco Maple Tree Pte Ltd	0.11	8.960	04/27/2029	54,164
Sisecam Uk Plc	0.11	8.625	05/02/2032	54,038
First Quantum Minerals Ltd	0.11	8.625	06/01/2031	54,024
Ihs Holding Ltd	0.11	8.250	11/29/2031	54,007
Bombardier Inc	0.11	7.250	07/01/2031	54,006
Garrett Motion Holdings Inc / Garrett L	0.11	7.750	05/31/2032	53,973
Nova Chemicals Corp	0.11	8.500	11/15/2028	53,935
Sisecam Uk Plc	0.11	8.250	05/02/2029	53,902
Vedanta Resources Finance Ii Plc	0.11	10.875	09/17/2029	53,872
Mersin Uluslararasi Liman Isletmeciligi	0.11	8.250	11/15/2028	53,811
First Quantum Minerals Ltd	0.11	8.000	03/01/2033	53,627
Bombardier Inc	0.11	6.750	06/15/2033	53,612
Banijay Entertainment Sas	0.11	8.125	05/01/2029	53,600
Eushi Finance Inc	0.11	7.625	12/15/2054	53,558
Eregli Demir Ve Celik Fabrikalari Tas	0.11	8.375	07/23/2029	53,550
Ardagh Finance Holdings Sa	0.11	9.500	12/01/2030	53,514
Ypf Sa	0.11	8.250	01/17/2034	53,495
Energean Israel Finance Ltd	0.11	8.500	09/30/2033	53,280
Ld Celulose International Gmbh	0.10	7.950	01/26/2032	52,980
Banco Internacional Del Peru Saa Interb	0.10	6.397	04/30/2035	52,897
Grupo Aeromexico Sab De Cv	0.10	8.625	11/15/2031	52,869
Banco Macro Sa	0.10	8.000	06/23/2029	52,811
Nissan Motor Co Ltd	0.10	7.500	07/17/2030	52,768
South Bow Canadian Infrastructure Holdi	0.10	7.625	03/01/2055	52,718
C&W Senior Finance Ltd	0.10	9.000	01/15/2033	52,587
Mhp Lux Sa	0.10	10.500	07/28/2029	52,528
Shriram Finance Ltd	0.10	6.625	04/22/2027	52,491
Arcor Saic	0.10	7.600	07/31/2033	52,464
Rakuten Group Inc	0.10	8.125	12/31/2049	52,422
Orbia Advance Corp Sab De Cv	0.10	6.800	05/13/2030	52,370
Cemex Sab De Cv	0.10	7.200	12/31/2049	52,348
1011778 Bc Ulc / New Red Finance Inc	0.10	6.125	06/15/2029	52,288
Oryx Funding Ltd	0.10	5.800	02/03/2031	52,132
Telus Corp	0.10	7.000	10/15/2055	52,062
Petroleos Mexicanos	0.10	6.840	01/23/2030	52,041
Itau Unibanco Holding Sa/Cayman Island	0.10	6.000	02/27/2030	51,981
Vistajet Malta Finance Plc / Vista Mana	0.10	7.875	05/01/2027	51,945
Teva Pharmaceutical Finance Netherlands	0.10	6.750	03/01/2028	51,935
Fortescue Treasury Pty Ltd	0.10	6.125	04/15/2032	51,903
Petrobras Global Finance Bv	0.10	6.875	01/20/2040	51,901
Consolidated Energy Finance Sa	0.10	12.000	02/15/2031	51,803
Lcpr Senior Secured Financing Dac	0.10	6.750	10/15/2027	51,759
Petrobras Global Finance Bv	0.10	6.000	01/13/2035	51,716
Termocandelaria Power Sa	0.10	7.750	09/17/2031	51,714
Rogers Communications Inc	0.10	7.000	04/15/2055	51,493
Teva Pharmaceutical Finance Netherlands	0.10	5.125	05/09/2029	51,436
Capstone Copper Corp	0.10	6.750	03/31/2033	51,364
Zf North America Capital Inc	0.10	6.875	04/14/2028	51,344
Zf North America Capital Inc	0.10	6.750	04/23/2030	51,324
Fibercop Spa	0.10	6.375	11/15/2033	51,256
Banco Btg Pactual Sa/Cayman Islands	0.10	6.250	04/08/2029	51,255
Investment Energy Resources Ltd	0.10	6.250	04/26/2029	51,193
We Soda Investments Holding Plc	0.10	9.500	10/06/2028	51,144
Howden Uk Refinance Plc / Howden Uk Ref	0.10	7.250	02/15/2031	51,125
Fibercop Spa	0.10	7.200	07/18/2036	51,055
Petrobras Global Finance Bv	0.10	6.750	01/27/2041	50,977
Banco Votorantim Sa/Luxembourg	0.10	5.875	04/08/2028	50,966
California Buyer Ltd / Atlantica Sustai	0.10	6.375	02/15/2032	50,866
Klabin Austria Gmbh	0.10	5.750	04/03/2029	50,725
Melco Resorts Finance Ltd	0.10	5.625	07/17/2027	50,627
Instituto Costarricense De Electricidad	0.10	6.375	05/15/2043	50,599
Brookfield Residential Properties Inc /	0.10	6.250	09/15/2027	50,597
Mazoon Assets Co Saoc	0.10	5.250	10/09/2031	50,576
Melco Resorts Finance Ltd	0.10	5.750	07/21/2028	50,556
Garda World Security Corp	0.10	6.000	06/01/2029	50,483
First Quantum Minerals Ltd	0.10	6.375	02/15/2036	50,330
Nova Chemicals Corp	0.10	4.250	05/15/2029	50,045
Rumo Luxembourg Sarl	0.10	5.250	01/10/2028	50,031
Amaggi Luxembourg International Sarl	0.10	5.250	01/28/2028	49,969
Algonquin Power & Utilities Corp	0.10	4.750	01/18/2082	49,878
Virgin Media Secured Finance Plc	0.10	5.500	05/15/2029	49,821
Banistmo Sa	0.10	4.250	07/31/2027	49,695
Uzbekneftegaz Jsc	0.10	4.750	11/16/2028	49,590
Petrorio Luxembourg Holding Sarl	0.10	6.750	10/15/2030	49,494
Minsur Sa	0.10	4.500	10/28/2031	49,009
Centrais Eletricas Brasileiras Sa	0.10	4.625	02/04/2030	48,853
Rede D'Or Finance Sarl	0.10	4.500	01/22/2030	48,781
Mattamy Group Corp	0.10	4.625	03/01/2030	48,771
Vistajet Malta Finance Plc / Vista Mana	0.10	6.375	02/01/2030	48,617
Zorlu Enerji Elektrik Uretim As	0.10	11.000	04/23/2030	48,440
Brf Sa	0.10	4.875	01/24/2030	48,267
Fortescue Treasury Pty Ltd	0.10	4.375	04/01/2031	48,224
Global Auto Holdings Ltd/Aag Fh Uk Ltd	0.09	8.750	01/15/2032	47,956
Bangkok Bank Pcl/Hong Kong	0.09	3.733	09/25/2034	47,717
Grupo Aval Ltd	0.09	4.375	02/04/2030	47,599
Colombia Telecomunicaciones Sa Esp	0.09	4.950	07/17/2030	46,939
Sasol Financing Usa Llc	0.09	5.500	03/18/2031	46,778
B3 Sa - Brasil Bolsa Balcao	0.09	4.125	09/20/2031	46,774
Open Text Holdings Inc	0.09	4.125	02/15/2030	46,333
Borr Ihc Ltd / Borr Finance Llc	0.09	10.000	11/15/2028	46,290
Petroleos Mexicanos	0.09	6.500	06/02/2041	45,791
Ai Candelaria -Spain- Sa	0.09	5.750	06/15/2033	45,681
Falabella Sa	0.09	3.375	01/15/2032	45,645
Marb Bondco Plc	0.09	3.950	01/29/2031	45,644
Kosmos Energy Ltd	0.09	8.750	10/01/2031	44,842
Aegea Finance Sarl	0.09	9.000	01/20/2031	44,673
Nemak Sab De Cv	0.09	3.625	06/28/2031	43,567
Mc Brazil Downstream Trading Sarl	0.09	7.250	06/30/2031	43,523
Petroleos Mexicanos	0.08	6.375	01/23/2045	42,431
Anglogold Ashanti Holdings Plc	0.08	6.500	04/15/2040	42,338
Leviathan Bond Ltd	0.08	6.750	06/30/2030	42,134
Rb Global Holdings Inc	0.08	7.750	03/15/2031	41,952
Petroleos Mexicanos	0.08	6.350	02/12/2048	41,268
Aston Martin Capital Holdings Ltd	0.08	10.000	03/31/2029	41,018
Nova Chemicals Corp	0.08	5.250	06/01/2027	40,876
Csn Inova Ventures	0.08	6.750	01/28/2028	40,766
Altice Financing Sa	0.07	5.750	08/15/2029	37,885
Avianca Midco 2 Plc	0.07	9.000	12/01/2028	37,758
Rogers Communications Inc	0.07	5.625	04/15/2055	36,905
Csn Resources Sa	0.07	4.625	06/10/2031	34,600
Energean Israel Finance Ltd	0.07	5.875	03/30/2031	33,565
Telus Corp	0.06	6.750	07/21/2055	31,872
Adecoagro Sa	0.06	7.500	07/29/2032	30,415
Petroleos Mexicanos	0.06	5.350	02/12/2028	30,341
Braskem Netherlands Finance Bv	0.06	4.500	01/10/2028	28,474
Nufarm Australia Ltd / Nufarm Americas	0.06	5.000	01/27/2030	27,973
New Flyer Holdings Inc	0.05	9.250	07/01/2030	27,802
Pan American Energy Llc/Argentina	0.05	8.500	04/30/2032	27,750
Taseko Mines Ltd	0.05	8.250	05/01/2030	27,383
Braskem Netherlands Finance Bv	0.05	4.500	01/31/2030	27,283
Transportadora De Gas Del Sur Sa	0.05	8.500	07/24/2031	27,236
Karoon Usa Finance Inc	0.05	10.500	05/14/2029	27,226
Telecom Italia Capital Sa	0.05	6.375	11/15/2033	27,159
Golomt Bank	0.05	11.000	05/20/2027	27,144
Champion Iron Canada Inc	0.05	7.875	07/15/2032	27,137
Bombardier Inc	0.05	7.000	06/01/2032	26,925
Empire Communities Corp	0.05	9.750	05/01/2029	26,878
Nova Chemicals Corp	0.05	9.000	02/15/2030	26,847
Braskem Netherlands Finance Bv	0.05	7.250	02/13/2033	26,786
South Bow Canadian Infrastructure Holdi	0.05	7.500	03/01/2055	26,782
Puma International Financing Sa	0.05	7.750	04/25/2029	26,732
Navoi Mining & Metallurgical Combinat	0.05	6.950	10/17/2031	26,664
Ypf Sa	0.05	2.500	06/30/2029	26,652
Teva Pharmaceutical Finance Netherlands	0.05	6.000	12/01/2032	26,649
Teva Pharmaceutical Finance Co Llc	0.05	6.150	02/01/2036	26,636
Aeropuertos Dominicanos Siglo Xxi Sa	0.05	7.000	06/30/2034	26,576
Enerflex Inc	0.05	6.875	01/15/2031	26,569
Bombardier Inc	0.05	7.500	02/01/2029	26,400
Indika Energy Tbk Pt	0.05	8.750	05/07/2029	26,398
Teva Pharmaceutical Finance Netherlands	0.05	5.750	12/01/2030	26,364
Petrobras Global Finance Bv	0.05	7.250	03/17/2044	26,363
Vista Energy Argentina Sau	0.05	7.625	12/10/2035	26,310
Tecpetrol Sa	0.05	7.625	01/22/2033	26,259
Pan American Energy Llc/Argentina	0.05	7.750	01/15/2037	26,229
New Gold Inc	0.05	6.875	04/01/2032	26,226
Northriver Midstream Finance Lp	0.05	6.750	07/15/2032	26,218
Mineral Resources Ltd	0.05	9.250	10/01/2028	26,159
Cia De Minas Buenaventura Saa	0.05	6.800	02/04/2032	26,017
Altagas Ltd	0.05	7.200	10/15/2054	26,011
Jones Deslauriers Insurance Management	0.05	8.500	03/15/2030	26,005
Heritage Petroleum Co Ltd	0.05	9.000	08/12/2029	26,003
Petrobras Global Finance Bv	0.05	7.375	01/17/2027	25,964
Cascades Inc/Cascades Usa Inc	0.05	6.750	07/15/2030	25,942
Petroleos Mexicanos	0.05	6.500	01/23/2029	25,935
Ypf Energia Electrica Sa	0.05	7.875	10/16/2032	25,847
Petrobras Global Finance Bv	0.05	5.600	01/03/2031	25,803
Precision Drilling Corp	0.05	6.875	01/15/2029	25,733
International Petroleum Corp	0.05	7.500	10/10/2030	25,716
Leviathan Bond Ltd	0.05	6.500	06/30/2027	25,701
Ypf Sa	0.05	6.950	07/21/2027	25,689
Teva Pharmaceutical Finance Netherlands	0.05	4.750	05/09/2027	25,553
Vermilion Energy Inc	0.05	7.250	02/15/2033	25,463
Hudbay Minerals Inc	0.05	6.125	04/01/2029	25,287
Eldorado Gold Corp	0.05	6.250	09/01/2029	25,247
Braskem Netherlands Finance Bv	0.05	5.875	01/31/2050	25,247
Cascades Inc/Cascades Usa Inc	0.05	5.375	01/15/2028	25,243
Gfl Environmental Inc	0.05	4.750	06/15/2029	25,224
Great Canadian Gaming Corp/Raptor Llc	0.05	8.750	11/15/2029	25,123
Teine Energy Ltd	0.05	6.875	04/15/2029	25,111
Iamgold Corp	0.05	5.750	10/15/2028	25,054
Petrobras Global Finance Bv	0.05	6.900	03/19/2049	24,984
Fortescue Treasury Pty Ltd	0.05	4.500	09/15/2027	24,958
Saturn Oil & Gas Inc	0.05	9.625	06/15/2029	24,854
Brookfield Residential Properties Inc /	0.05	5.000	06/15/2029	24,764
Gfl Environmental Inc	0.05	4.375	08/15/2029	24,744
Energean Israel Finance Ltd	0.05	5.375	03/30/2028	24,662
Superior Plus Lp / Superior General Par	0.05	4.500	03/15/2029	24,452
Georgian Railway Jsc	0.05	4.000	06/17/2028	24,385
Rakuten Group Inc	0.05	6.250	04/22/2170	24,305
Ypf Sa	0.05	7.000	12/15/2047	23,227
Open Text Holdings Inc	0.04	4.125	12/01/2031	22,246
Goeasy Ltd	0.04	6.875	05/15/2030	21,951
Playtika Holding Corp	0.04	4.250	03/15/2029	21,684
Petrobras Global Finance Bv	0.04	5.500	06/10/2051	21,381
Capital Power Corp	0.04	8.125	06/05/2054	21,361
Altagas Ltd	0.04	8.900	11/10/2083	20,945
Transalta Corp	0.04	6.900	11/15/2030	20,419
North American Energy Partners Inc	0.04	7.750	05/01/2030	19,508
Secure Energy Services Inc	0.04	5.750	11/20/2032	19,434
Inter Pipeline Ltd/Ab	0.04	6.875	03/26/2079	19,357
Cineplex Inc	0.04	7.625	03/31/2029	19,304
Altagas Ltd	0.04	7.350	08/17/2082	19,297
Brookfield Property Finance Ulc	0.04	7.125	02/13/2028	19,261
Transalta Corp	0.04	5.625	03/24/2032	19,148
Sleep Country Canada Holdings Inc	0.04	6.625	11/28/2032	19,080
Ats Corp	0.04	6.500	08/21/2032	19,043
Transalta Corp	0.04	5.625	03/24/2032	19,040
Cogeco Communications Inc	0.04	6.125	02/27/2029	19,011
Tamarack Valley Energy Ltd	0.04	7.250	05/10/2027	18,965
Doman Building Materials Group Ltd	0.04	7.500	09/17/2029	18,898
Laurentian Bank Of Canada	0.04	5.095	06/15/2032	18,816
Recipe Unltd Corp/Societe De Re Cettes	0.04	5.700	01/29/2033	18,815
Gibson Energy Inc	0.04	5.250	12/22/2080	18,681
Algonquin Power & Utilities Corp	0.04	5.250	01/18/2082	18,653
Keyera Corp	0.04	6.000	10/15/2055	18,511
Superior Plus Lp	0.04	4.250	05/18/2028	18,464
Pembina Pipeline Corp	0.04	4.800	01/25/2081	18,434
Telus Corp	0.04	5.375	06/09/2056	18,421
Mercer International Inc	0.04	5.125	02/01/2029	18,110
Jones Deslauriers Insurance Management	0.04	7.250	10/01/2033	18,096
Mv24 Capital Bv	0.04	6.748	06/01/2034	17,972
Peru Lng Srl	0.03	5.375	03/22/2030	16,329
Kronos Acquisition Holdings Inc	0.03	8.250	06/30/2031	15,724
Goeasy Ltd	0.03	9.250	12/01/2028	14,775
Goeasy Ltd	0.03	7.625	07/01/2029	13,923
Dye & Durham Ltd	0.03	8.625	04/15/2029	13,257
Altagas Ltd	0.02	5.250	01/11/2082	11,196
Ardagh Packaging Finance Plc / Ardagh H	0.02	5.250	08/15/2027	9,408
Corus Entertainment Inc	0.01	5.000	05/11/2028	6,277
Bakrie Telecom Pte Ltd	0.00	11.500	01/01/2099	1,313
Abengoa Abenewco 2 Sa	0.00	1.500	10/26/2026	633
Abengoa Sa	0.00	--	03/31/2027	592
Abengoa Abenewco 2 Sa	0.00	1.500	10/26/2026	104
Digicel Group Holdings Ltd	0.00	--	12/31/2030	0
--	0.57	--	--	288,843
--	0.47	--	--	235,988
--	0.08	--	--	40,859
--	0.02	--	--	11,862
Other/Cash	-0.12	--	--	-61,062

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Country of risk is defined using the International Organization for Standardization’s (ISO) country codes which take four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the CEO, CFO, COO or General Counsel is otherwise.

Portfolio

Currency Exposure (%)
Sector Weightings (%)
Country Weightings (%)
Credit Quality (%)
Years to Maturity

Credit Quality (%) as of 03/31/2026

Composite		% of Net Assets
Non-Investment Grade	D	0.11
Investment Grade	BBB	1.84
Non-Investment Grade	BB	59.61
	B	31.76
	CCC	3.31
	C	0.01
Total Non-Investment Grade	--	0.11
Total Investment Grade	--	1.84
Total Non-Investment Grade	--	94.70
Not Rated	--	2.53

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.

Years to Maturity as at 03/31/2026

Years
Maturity (%)
< 1
0.40
1 - 3
21.90
3 - 5
38.40
5 - 7
15.70
7 - 10
7.50
10 - 15
1.80
15 - 20
1.20
20 - 30
5.10
30 +
8.00

Fees

Distributions

Distribution History

Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains

Ex-date	Record Date	Payable date	Dividend Income^‡	Short-Term Capital Gains	Long-Term Capital Gains	Return of Capital	Total Distributions
04/01/2026	04/01/2026	04/07/2026	$ 0.1207	--	--	--	$ 0.12
03/02/2026	03/02/2026	03/05/2026	$ 0.0919	--	--	--	$ 0.09
02/02/2026	02/02/2026	02/05/2026	$ 0.0987	--	--	--	$ 0.10
12/29/2025	12/29/2025	12/31/2025	$ 0.1283	--	--	--	$ 0.13
11/28/2025	11/28/2025	12/03/2025	$ 0.0970	--	--	--	$ 0.10
11/03/2025	11/03/2025	11/06/2025	$ 0.1023	--	--	--	$ 0.10
10/01/2025	10/01/2025	10/06/2025	$ 0.0977	--	--	--	$ 0.10
09/02/2025	09/02/2025	09/05/2025	$ 0.0976	--	--	--	$ 0.10
08/01/2025	08/01/2025	08/06/2025	$ 0.1026	--	--	--	$ 0.10
07/01/2025	07/01/2025	07/07/2025	$ 0.0842	--	--	--	$ 0.08
06/02/2025	06/02/2025	06/05/2025	$ 0.1004	--	--	--	$ 0.10
05/01/2025	05/01/2025	05/06/2025	$ 0.0880	--	--	--	$ 0.09
04/01/2025	04/01/2025	04/04/2025	$ 0.1016	--	--	--	$ 0.10
03/03/2025	03/03/2025	03/06/2025	$ 0.0698	--	--	--	$ 0.07
02/03/2025	02/03/2025	02/06/2025	$ 0.0996	--	--	--	$ 0.10
12/27/2024	12/27/2024	12/30/2024	$ 0.0814	--	--	$ 0.0203	$ 0.10
12/02/2024	12/02/2024	12/05/2024	$ 0.0808	--	--	$ 0.0202	$ 0.10
11/01/2024	11/01/2024	11/06/2024	$ 0.0790	--	--	$ 0.0197	$ 0.10
10/01/2024	10/01/2024	10/04/2024	$ 0.0761	--	--	$ 0.0190	$ 0.10
09/03/2024	09/03/2024	09/06/2024	$ 0.0775	--	--	$ 0.0194	$ 0.10
08/01/2024	08/01/2024	08/06/2024	$ 0.0738	--	--	$ 0.0184	$ 0.09
07/01/2024	07/01/2024	07/05/2024	$ 0.0795	--	--	$ 0.0199	$ 0.10
06/03/2024	06/03/2024	06/06/2024	$ 0.0807	--	--	$ 0.0202	$ 0.10
04/23/2024	04/24/2024	04/29/2024	$ 0.0673	--	--	$ 0.0268	$ 0.09
04/01/2024	04/02/2024	04/05/2024	$ 0.0691	--	--	$ 0.0275	$ 0.10
03/01/2024	03/04/2024	03/07/2024	$ 0.0572	--	--	$ 0.0227	$ 0.08
02/01/2024	02/02/2024	02/07/2024	$ 0.0648	--	--	$ 0.0257	$ 0.09
12/27/2023	12/28/2023	12/29/2023	$ 0.0837	--	--	$ 0.0179	$ 0.10
12/01/2023	12/04/2023	12/07/2023	$ 0.0697	--	--	$ 0.0150	$ 0.08
11/01/2023	11/02/2023	11/07/2023	$ 0.0714	--	--	$ 0.0153	$ 0.09
10/02/2023	10/03/2023	10/06/2023	$ 0.0911	--	--	$ 0.0195	$ 0.11
09/01/2023	09/05/2023	09/08/2023	$ 0.0756	--	--	$ 0.0162	$ 0.09
08/01/2023	08/02/2023	08/10/2023	$ 0.0760	--	--	$ 0.0163	$ 0.09
07/03/2023	07/05/2023	07/07/2023	$ 0.0680	--	--	$ 0.0146	$ 0.08
06/01/2023	06/02/2023	06/07/2023	$ 0.0874	--	--	$ 0.0188	$ 0.11
04/24/2023	04/25/2023	04/28/2023	$ 0.0857	--	--	$ 0.0262	$ 0.11
04/03/2023	04/04/2023	04/10/2023	$ 0.0876	--	--	$ 0.0268	$ 0.11
03/01/2023	03/02/2023	03/07/2023	$ 0.0779	--	--	$ 0.0238	$ 0.10
02/01/2023	02/02/2023	02/07/2023	$ 0.0908	--	--	$ 0.0278	$ 0.12
12/28/2022	12/29/2022	12/30/2022	$ 0.0881	--	--	--	$ 0.09
12/01/2022	12/02/2022	12/07/2022	$ 0.0806	--	--	--	$ 0.08
11/01/2022	11/02/2022	11/07/2022	$ 0.0869	--	--	--	$ 0.09
10/03/2022	10/04/2022	10/07/2022	$ 0.0658	--	--	--	$ 0.07
09/01/2022	09/02/2022	09/08/2022	$ 0.0796	--	--	--	$ 0.08
08/01/2022	08/02/2022	08/05/2022	$ 0.0818	--	--	--	$ 0.08
07/01/2022	07/05/2022	07/08/2022	$ 0.0823	--	--	--	$ 0.08
06/01/2022	06/02/2022	06/07/2022	$ 0.0872	--	--	--	$ 0.09
04/25/2022	04/26/2022	04/29/2022	$ 0.0869	--	--	--	$ 0.09
04/01/2022	04/04/2022	04/07/2022	$ 0.0843	--	--	--	$ 0.08
03/01/2022	03/02/2022	03/07/2022	$ 0.0759	--	--	--	$ 0.08
02/01/2022	02/02/2022	02/07/2022	$ 0.0797	--	--	--	$ 0.08
12/29/2021	12/30/2021	12/31/2021	$ 0.0872	--	--	--	$ 0.09
12/01/2021	12/02/2021	12/07/2021	$ 0.0854	--	--	--	$ 0.09
11/01/2021	11/02/2021	11/05/2021	$ 0.0930	--	--	--	$ 0.09
10/01/2021	10/04/2021	10/07/2021	$ 0.0884	--	--	--	$ 0.09
09/01/2021	09/02/2021	09/08/2021	$ 0.0949	--	--	--	$ 0.09
08/02/2021	08/03/2021	08/06/2021	$ 0.0937	--	--	--	$ 0.09
07/01/2021	07/02/2021	07/08/2021	$ 0.0841	--	--	--	$ 0.08
06/01/2021	06/02/2021	06/07/2021	$ 0.0952	--	--	--	$ 0.10
04/26/2021	04/27/2021	04/30/2021	$ 0.0955	--	--	$ 0.0066	$ 0.10
04/01/2021	04/05/2021	04/08/2021	$ 0.0985	--	--	$ 0.0068	$ 0.11
03/01/2021	03/02/2021	03/05/2021	$ 0.0852	--	--	$ 0.0059	$ 0.09
02/01/2021	02/02/2021	02/05/2021	$ 0.0971	--	--	$ 0.0068	$ 0.10
12/29/2020	12/30/2020	01/05/2021	$ 0.0988	--	--	$ 0.0050	$ 0.10
12/01/2020	12/02/2020	12/07/2020	$ 0.1020	--	--	$ 0.0051	$ 0.11
11/02/2020	11/03/2020	11/06/2020	$ 0.1016	--	--	$ 0.0051	$ 0.11
10/01/2020	10/02/2020	10/07/2020	$ 0.0963	--	--	$ 0.0048	$ 0.10
09/01/2020	09/02/2020	09/08/2020	$ 0.0940	--	--	$ 0.0047	$ 0.10
08/03/2020	08/04/2020	08/07/2020	$ 0.1038	--	--	$ 0.0052	$ 0.11
07/01/2020	07/02/2020	07/08/2020	$ 0.0893	--	--	$ 0.0045	$ 0.09
06/01/2020	06/02/2020	06/05/2020	$ 0.1082	--	--	$ 0.0054	$ 0.11
04/24/2020	04/27/2020	04/30/2020	$ 0.1112	--	--	$ 0.0241	$ 0.14
04/01/2020	04/02/2020	04/07/2020	$ 0.1025	--	--	$ 0.0222	$ 0.12
03/02/2020	03/03/2020	03/06/2020	$ 0.0966	--	--	$ 0.0209	$ 0.12
02/03/2020	02/04/2020	02/07/2020	$ 0.1024	--	--	$ 0.0222	$ 0.12
12/30/2019	12/31/2019	01/06/2020	$ 0.1050	--	--	--	$ 0.10
12/02/2019	12/03/2019	12/06/2019	$ 0.0975	--	--	--	$ 0.10
11/01/2019	11/04/2019	11/07/2019	$ 0.1122	--	--	--	$ 0.11
10/01/2019	10/02/2019	10/07/2019	$ 0.1137	--	--	--	$ 0.11
09/03/2019	09/04/2019	09/09/2019	$ 0.1084	--	--	--	$ 0.11
08/01/2019	08/02/2019	08/07/2019	$ 0.1046	--	--	--	$ 0.10
07/01/2019	07/02/2019	07/08/2019	$ 0.0667	--	--	--	$ 0.07
06/03/2019	06/04/2019	06/07/2019	$ 0.1368	--	--	--	$ 0.14
04/24/2019	04/25/2019	04/30/2019	$ 0.0962	--	--	$ 0.0145	$ 0.11
04/01/2019	04/02/2019	04/05/2019	$ 0.0989	--	--	$ 0.0149	$ 0.11
03/01/2019	03/04/2019	03/07/2019	$ 0.0825	--	--	$ 0.0124	$ 0.09
02/01/2019	02/04/2019	02/07/2019	$ 0.0989	--	--	$ 0.0149	$ 0.11
12/27/2018	12/28/2018	01/03/2019	$ 0.0904	--	--	--	$ 0.09
12/03/2018	12/04/2018	12/07/2018	$ 0.0908	--	--	--	$ 0.09
11/01/2018	11/02/2018	11/07/2018	$ 0.1134	--	--	--	$ 0.11
10/01/2018	10/02/2018	10/05/2018	$ 0.0953	--	--	--	$ 0.10
09/04/2018	09/05/2018	09/10/2018	$ 0.0925	--	--	--	$ 0.09
08/01/2018	08/02/2018	08/07/2018	$ 0.0944	--	--	--	$ 0.09
07/02/2018	07/03/2018	07/09/2018	$ 0.0928	--	--	--	$ 0.09
06/01/2018	06/04/2018	06/07/2018	$ 0.0953	--	--	--	$ 0.10
04/24/2018	04/25/2018	04/30/2018	$ 0.0870	--	--	$ 0.0373	$ 0.12
04/02/2018	04/03/2018	04/06/2018	$ 0.0886	--	--	$ 0.0380	$ 0.13
03/01/2018	03/02/2018	03/07/2018	$ 0.0617	--	--	$ 0.0264	$ 0.09
02/01/2018	02/02/2018	02/07/2018	$ 0.0980	--	--	$ 0.0420	$ 0.14
12/27/2017	12/28/2017	01/03/2018	$ 0.0937	--	--	--	$ 0.09
12/01/2017	12/04/2017	12/07/2017	$ 0.0894	--	--	--	$ 0.09
11/01/2017	11/02/2017	11/07/2017	$ 0.0921	--	--	--	$ 0.09
10/02/2017	10/03/2017	10/06/2017	$ 0.0762	--	--	--	$ 0.08
09/01/2017	09/06/2017	09/08/2017	$ 0.0963	--	--	--	$ 0.10
08/01/2017	08/03/2017	08/07/2017	$ 0.0910	--	--	--	$ 0.09
07/03/2017	07/06/2017	07/10/2017	$ 0.0946	--	--	--	$ 0.09
06/01/2017	06/05/2017	06/07/2017	$ 0.1012	--	--	--	$ 0.10
05/01/2017	05/03/2017	05/05/2017	$ 0.0870	--	--	--	$ 0.09
04/03/2017	04/05/2017	04/07/2017	$ 0.1048	--	--	$ 0.1048	$ 0.21
03/01/2017	03/03/2017	03/07/2017	$ 0.0847	--	--	$ 0.0847	$ 0.17
02/01/2017	02/03/2017	02/07/2017	$ 0.1080	--	--	$ 0.1080	$ 0.22
12/28/2016	12/30/2016	01/04/2017	$ 0.0921	--	--	$ 0.0059	$ 0.10
12/01/2016	12/05/2016	12/07/2016	$ 0.0940	--	--	$ 0.0060	$ 0.10
11/01/2016	11/03/2016	11/07/2016	$ 0.0973	--	--	$ 0.0062	$ 0.10
10/03/2016	10/05/2016	10/07/2016	$ 0.1000	--	--	$ 0.0064	$ 0.11
09/01/2016	09/06/2016	09/08/2016	$ 0.1000	--	--	$ 0.0064	$ 0.11
08/01/2016	08/03/2016	08/05/2016	$ 0.1038	--	--	$ 0.0066	$ 0.11
07/01/2016	07/06/2016	07/08/2016	$ 0.1040	--	--	$ 0.0066	$ 0.11
06/01/2016	06/03/2016	06/07/2016	$ 0.1000	--	--	$ 0.0064	$ 0.11
05/02/2016	05/04/2016	05/06/2016	$ 0.0994	--	--	$ 0.0063	$ 0.11
04/01/2016	04/05/2016	04/07/2016	$ 0.1120	--	--	$ 0.1042	$ 0.22
03/01/2016	03/03/2016	03/07/2016	$ 0.0960	--	--	$ 0.0893	$ 0.19
02/01/2016	02/03/2016	02/05/2016	$ 0.1179	--	--	$ 0.1096	$ 0.23
12/29/2015	12/31/2015	01/05/2016	$ 0.1090	--	--	--	$ 0.11
12/01/2015	12/03/2015	12/07/2015	$ 0.1054	--	--	--	$ 0.11
11/02/2015	11/04/2015	11/06/2015	$ 0.1100	--	--	--	$ 0.11
10/01/2015	10/05/2015	10/07/2015	$ 0.0996	--	--	--	$ 0.10
09/01/2015	09/03/2015	09/08/2015	$ 0.1180	--	--	--	$ 0.12
08/03/2015	08/05/2015	08/07/2015	$ 0.1218	--	--	--	$ 0.12
07/01/2015	07/06/2015	07/08/2015	$ 0.1040	--	--	--	$ 0.10
06/01/2015	06/03/2015	06/05/2015	$ 0.1100	--	--	--	$ 0.11
05/01/2015	05/05/2015	05/07/2015	$ 0.0990	--	--	--	$ 0.10
04/01/2015	04/06/2015	04/08/2015	$ 0.1150	--	--	$ 0.1035	$ 0.22
03/02/2015	03/04/2015	03/06/2015	$ 0.1000	--	--	$ 0.0900	$ 0.19
02/02/2015	02/04/2015	02/06/2015	$ 0.1112	--	--	$ 0.1001	$ 0.21
12/29/2014	12/31/2014	01/05/2015	$ 0.1230	--	--	--	$ 0.12
12/01/2014	12/03/2014	12/05/2014	$ 0.1100	--	--	--	$ 0.11
11/03/2014	11/05/2014	11/07/2014	$ 0.1160	--	--	--	$ 0.12
10/01/2014	10/03/2014	10/07/2014	$ 0.1150	--	--	--	$ 0.12
09/02/2014	09/04/2014	09/08/2014	$ 0.1220	--	--	--	$ 0.12
08/01/2014	08/05/2014	08/07/2014	$ 0.1220	--	--	--	$ 0.12
07/01/2014	07/03/2014	07/08/2014	$ 0.1100	--	--	--	$ 0.11
06/02/2014	06/04/2014	06/06/2014	$ 0.1220	--	--	--	$ 0.12
05/01/2014	05/05/2014	05/07/2014	$ 0.1170	--	--	--	$ 0.12
04/01/2014	04/03/2014	04/07/2014	$ 0.1220	--	--	--	$ 0.12
03/03/2014	03/05/2014	03/07/2014	$ 0.1100	--	--	--	$ 0.11
02/03/2014	02/05/2014	02/07/2014	$ 0.1200	--	--	--	$ 0.12
12/27/2013	12/31/2013	01/03/2014	$ 0.1200	$ 0.0455	--	--	$ 0.17
12/02/2013	12/04/2013	12/06/2013	$ 0.1550	--	--	--	$ 0.15
11/01/2013	11/05/2013	11/07/2013	$ 0.3100	--	--	--	$ 0.31
10/01/2013	10/03/2013	10/07/2013	$ 0.1280	--	--	--	$ 0.13
09/03/2013	09/05/2013	09/09/2013	$ 0.1290	--	--	--	$ 0.13
08/01/2013	08/05/2013	08/07/2013	$ 0.1320	--	--	--	$ 0.13
07/01/2013	07/03/2013	07/08/2013	$ 0.1170	--	--	--	$ 0.12
06/03/2013	06/05/2013	06/07/2013	$ 0.1292	--	--	--	$ 0.13
05/01/2013	05/03/2013	05/07/2013	$ 0.1150	--	--	--	$ 0.12
04/01/2013	04/03/2013	04/05/2013	$ 0.1355	--	--	--	$ 0.14
03/01/2013	03/05/2013	03/07/2013	$ 0.1180	--	--	--	$ 0.12
02/01/2013	02/05/2013	02/07/2013	$ 0.1312	--	--	--	$ 0.13
12/27/2012	12/31/2012	01/03/2013	$ 0.1310	--	--	--	$ 0.13
12/03/2012	12/05/2012	12/07/2012	$ 0.1160	--	--	--	$ 0.12
11/01/2012	11/05/2012	11/07/2012	$ 0.0390	--	--	--	$ 0.04
10/01/2012	10/03/2012	10/05/2012	$ 0.1350	--	--	--	$ 0.14
09/04/2012	09/07/2012	09/10/2012	$ 0.1420	--	--	--	$ 0.14
08/01/2012	08/03/2012	08/07/2012	$ 0.1420	--	--	--	$ 0.14
07/02/2012	07/05/2012	07/09/2012	$ 0.1345	--	--	--	$ 0.13
06/01/2012	06/05/2012	06/07/2012	$ 0.1920	--	--	--	$ 0.19

^‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.

Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.

Click here to access more detailed yearend tax information

Team

Resources

Key Documents

Name
Frequency
VanEck ETF Guide
Annually
Summary Prospectus
Annually
Statutory Prospectus
Annually
SAI
Annually
Annual Report
Annually
Semi-Annual Report
Annually
Annual Financial Statements & Other Information
Semi Annual Financial Statements & Other Information
VanEck Yearend Dividends/Distributions
Annually
NAV & Premium/Discount History
Daily
All IHY Holdings
Daily
HXUS Performance History
Daily

Thought Leadership

Name
Frequency
IHY Fund Profile: Diversify Your High Yield Exposure
Quarterly
Monthly ETF Yield Monitor
Monthly

Tax Documents and Distributions

Aggregated Cash Flow (ACF)

Name
Frequency
Aggregated Cash Flows – Daily (Maturity)
Daily
Aggregated Cash Flows – Daily (Worst)
Daily
Aggregated Cash Flows – Last Month End (Maturity)
Monthly
Aggregated Cash Flows – Last Month End (Worst)
Monthly
Aggregated Cash Flows – Last Quarter End (Maturity)
Quarterly
Aggregated Cash Flows – Last Quarter End (Worst)
Quarterly

IHY VanEck International High Yield Bond ETF

IHY VanEck International High Yield Bond ETF

Resources

Overview

Why IHY

Yields as of 04/17/2026

Performance

Average Annual Total Returns* (%)

Holdings

Daily Holdings (%) as of 04/17/2026

Portfolio

Credit Quality (%) as of 03/31/2026

Years to Maturity as at 03/31/2026

Fees

Distributions

Distribution History

Team

Resources

Key Documents

Thought Leadership

Tax Documents and Distributions

Aggregated Cash Flow (ACF)

IHY

VanEck International High Yield Bond ETF

IHY

VanEck International High Yield Bond ETF