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LFEQ
VanEck Long/Flat Trend ETF

Fund Description

VanEck Long/Flat Trend ETF (LFEQ®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ned Davis Research CMG US Large Cap Long/Flat Index (NDRCMGLF). The NDRCMGLF Index follows a proprietary model that determines when, and by how much, it allocates to U.S. equities and/or U.S. Treasury bills to seek to help avoid losses in declining markets or capitalize from rising markets. The model produces daily trade signals to determine the Index's equity allocation percentage (100%, 50%, or 0%).

 
 

  • Fund Ticker

    LFEQ

  • Exchange

    NYSE Arca

  • Index Total Return Ticker

    NDRCMGLF

  • Index Provider

    Ned Davis Research, Inc.

  • Administrator

    Van Eck Associates

  • Index Ticker

    NDRCMGLF

  • Inception Date

    10/04/2017

 
as of 08/16/22

  • 30-Day SEC Yield1

    1.01%

  • Total Net Assets

    $56.9M

  • Number of Holdings

    1

  • Options

    No

  • Gross Expense Ratio2

    0.85%

  • Net Expense Ratio/TER2

    0.58%

  • Distribution Frequency

    Annual

  • Next Distribution Date

    12/27/2022
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How to Buy

Morningstar™ Ratings3
as of 07/31/2022

Category Overall 3 Year 5 Year
Large Blend
3 stars of 1232 funds
3 stars of 1232 funds
stars of funds

Key Points

  • Tactically allocates between S&P 500 equities and U.S. T-bills
    Based on a breadth model that measures 24 industries, in addition to the top line S&P 500 return

  • Seeks to minimize impact of market downturns and participate in uptrends
    Incorporates short, intermediate and long-term trend indicators, augmented by volatility and mean reversion inputs

  • Driven by the institutional expertise of Ned Davis Research
    One of the largest independent institutional investment research providers

Trading Information

  • Fund Ticker

    LFEQ

  • Index Total Return Ticker

    NDRCMGLF

  • NAV

    LFEQNV

  • Intraday NAV (IIV)4

    LFEQIV

  • Shares Outstanding

    1,525,000

  • Estimated Cash

    LFEQEU

  • Total Cash

    LFEQTC

  • CUSIP

    92189F148

  • ISIN

    US92189F1488
Source: Bloomberg

Fees and Expenses2

  • Management Fee

    0.50%

  • Other Expenses

    0.32%

  • Acquired Fund Fees and Expenses

    0.03%

  • Gross Expense Ratio

    0.85%

  • Fee Waivers and
    Expense Reimbursement

    -0.27%

  • Net Expense Ratio/TER2

    0.58%

2Expenses for LFEQ are capped contractually at 0.55% until February 1, 2023. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Investment Professionals

  • Portfolio Manager and Head of Equity ETFs
  • Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
  • Joined VanEck in 2005
  • CFA charterholder; member of the CFA Society New York
  • BA, Mathematics and Economics, New York University
  • Analyst for Equity ETFs
  • Joined VanEck in 2018
  • Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
  • BS, Finance, Providence College
  • Analyst for Equity ETFs
  • Joined VanEck in 2019
  • Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
  • BS, Accounting, Hunter College

Prices as of 08/16/22

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
LFEQ $37.29
$37.30 		11,016
2,462 		$0.00 / +0.00%
$0.03 / +0.08% 		-15.55%
-15.53% 		$0.01
0.03% 		0.11%

Premium/Discount History as of 08/16/22

Calendar Year 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 75 10 21 19 12
LFEQ Days closed at NAV 40 8 11 7 10
Days closed at a discount 137 46 32 36 40

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
10/04/17
LFEQ (NAV) 0.03 -2.89 -15.62 -8.23 11.47 -- -- 9.80
LFEQ (Share Price) 0.03 -2.78 -15.61 -8.15 11.42 -- -- 9.81
NDRCMGLF (Index) 0.07 -2.69 -15.26 -7.56 12.19 -- -- 10.48
Performance Differential (NAV - Index) -0.04 -0.20 -0.36 -0.67 -0.72 -- -- -0.68
S&P 500 Index 9.22 0.39 -12.58 -4.64 13.36 12.83 13.80 12.61
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
10/04/17
LFEQ (NAV) -0.01 -11.47 -15.64 -6.05 11.98 -- -- 9.98
LFEQ (Share Price) 0.01 -11.63 -15.64 -6.12 11.98 -- -- 9.98
NDRCMGLF (Index) 0.13 -11.24 -15.32 -5.43 12.70 -- -- 10.66
Performance Differential (NAV - Index) -0.14 -0.23 -0.32 -0.62 -0.72 -- -- -0.68
S&P 500 Index -8.25 -16.10 -19.96 -10.62 10.60 11.31 12.96 10.77

*Returns less than one year are not annualized.

As of November 1, 2019, Ned Davis Research implemented several changes to the Ned Davis Research CMG Long/Flat Allocation Index construction rules to reflect new enhancements to factors for composition and timeliness. From December 9, 2021 forward, Ned Davis Research implemented additional changes to the Ned Davis Research CMG Long/Flat Allocation Index construction rules. The methodology of the strategy evolved to reflect new enhancements to factors for composition and timeliness. Additional enhancements include a volatility indicator to the breadth composite score and adjustments to the model’s investment allocation rules. Past performance is no guarantee of future results.

All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

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 fundÍž 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.

Daily Holdings (%) as of 08/16/22 Download All Holdings

Total Holdings: 1
Ticker
 Holding Name % of Net
Assets
Identifier (FIGI)
Shares
 Asset Class Market Value
(US$)
912796U49
 United States Treasury Bill 99.89
BBG015ZCXS77
56,894,000
 Bond 56,804,102
--
Other/Cash 0.11
--
0
 Cash 64,094
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