MBBBVanEck Moody’s Analytics BBB Corporate Bond ETF
Fund Description
VanEck Moody’s Analytics® BBB Corporate Bond ETF seeks to track, as closely as possible, before fees and expenses, the price and yield performance of the MVIS® Moody’s Analytics® US BBB Corporate Bond Index, which includes BBB rated corporate bonds that have attractive valuations and a lower probability of being downgraded to high yield compared to other BBB rated bonds.
-
Fund Ticker
MBBB -
Exchange
Cboe -
Inception Date
12/01/2020 -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Index Ticker
MVBI -
Index Rebalancing
Monthly -
2022 Preliminary NAIC Designation7
2.C
as of 03/27/23
-
30-Day SEC Yield1
5.67% -
Total Net Assets
$8.3M -
Number of Holdings
181 -
Options
No -
Gross Expense Ratio2
0.25% -
Net Expense Ratio/TER2
0.25% -
Distribution Frequency
Monthly -
Next Distribution Date
03/31/2023
Uncover Hidden Value in Credit
Key Documents and Links
Fund Highlights
- Selects bonds with attractive risk-adjusted valuations, providing outperformance potential versus the broader market
- Quantitative approach uses market-based information, including the issuer’s stock price, to develop a forward looking assessment of credit risk
- Powered by Moody’s Analytics credit risk platform, which is relied upon by over 650 of the world’s largest institutional investors
Yield as of 03/27/23
-
30-Day SEC Yield1
5.67% -
Distribution Yield1
3.92% -
12-Month Yield1
3.42%
Fees and Expenses2
-
Management Fee
0.25% -
Other Expenses
-- -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.25% -
Fee Waivers and
--
Expense Reimbursement -
Net Expense Ratio/TER2
0.25%
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.
Trading Information
-
Fund Ticker
MBBB -
Index Total Return Ticker
MVBI -
NAV
MBBBNV -
Shares Outstanding
400,000 -
Estimated Cash
MBBBEU -
Total Cash
MBBBTC -
CUSIP
92189H854 -
ISIN
US92189H8549
Fundamentals4 as of 03/27/23
-
Yield to Worst
5.72% -
Yield to Maturity
5.72% -
Effective Duration (yrs)
6.61 -
Years to Maturity
10.73 -
Modified Duration (yrs)
6.79 -
Spread Duration (yrs)
6.73 -
Coupon
4.07%
Investment Professionals
Fran Rodilosso
- 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
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
- 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
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
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 12/01/20 |
|
---|---|---|---|---|---|---|---|---|
MBBB (NAV) | -3.19 | 1.13 | 1.09 | -8.74 | -- | -- | -- | -5.83 |
MBBB (Share Price) | -3.36 | 0.77 | 1.00 | -8.95 | -- | -- | -- | -5.80 |
MVBI (Index) | -3.16 | 1.08 | 1.02 | -9.31 | -- | -- | -- | -6.09 |
Performance Differential (NAV - Index) | -0.03 | 0.05 | 0.07 | 0.57 | -- | -- | -- | 0.26 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 12/01/20 |
|
---|---|---|---|---|---|---|---|---|
MBBB (NAV) | 0.04 | 4.41 | -15.02 | -15.02 | -- | -- | -- | -6.75 |
MBBB (Share Price) | -0.23 | 4.57 | -15.01 | -15.01 | -- | -- | -- | -6.69 |
MVBI (Index) | 0.06 | 4.52 | -15.71 | -15.71 | -- | -- | -- | -7.00 |
Performance Differential (NAV - Index) | -0.02 | -0.11 | 0.69 | 0.69 | -- | -- | -- | 0.25 |
Top 10 Holdings (%) as of 02/28/23
Daily HoldingsHolding Name |
Coupon
|
Maturity |
Country‡
|
Currency
|
% of Net Assets |
---|---|---|---|---|---|
T-Mobile Usa Inc |
3.750
|
04/15/2027 |
United States
|
USD
|
1.80 |
T-Mobile Usa Inc |
3.500
|
04/15/2025 |
United States
|
USD
|
1.77 |
Barclays Plc |
2.645
|
06/24/2031 |
United Kingdom
|
USD
|
1.70 |
Charter Communications Operating Llc / |
4.908
|
07/23/2025 |
United States
|
USD
|
1.49 |
Altria Group Inc |
4.800
|
02/14/2029 |
United States
|
USD
|
1.46 |
Charter Communications Operating Llc / |
5.050
|
03/30/2029 |
United States
|
USD
|
1.45 |
Netflix Inc |
5.875
|
11/15/2028 |
United States
|
USD
|
1.25 |
Time Warner Cable Llc |
7.300
|
07/01/2038 |
United States
|
USD
|
1.23 |
Credit Suisse Group Ag |
4.194
|
04/01/2031 |
Switzerland
|
USD
|
1.23 |
Credit Agricole Sa |
4.375
|
03/17/2025 |
France
|
USD
|
1.20 |
Top 10 Total (%) | 14.60 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%)
as of 02/28/23
Country | % of Net Assets |
---|---|
● United States | 71.81 |
● France | 7.41 |
● United Kingdom | 6.07 |
● Canada | 5.60 |
● Netherlands | 3.55 |
● Switzerland | 2.44 |
● Denmark | 1.19 |
● Mexico | 0.73 |
● Italy | 0.48 |
● Bermuda | 0.22 |
● Other/Cash | 0.49 |
Currency Exposure (%) as of 02/28/23
U.S. Dollar | 99.51 |
Other/Cash | 0.49 |
Sector Weightings (%)
as of 02/28/23
Sector | % of Net Assets |
---|---|
● Financials | 25.73 |
● Technology | 23.84 |
● Consumer Non-Cyclicals | 12.86 |
● Consumer Cyclicals | 9.94 |
● Utilities | 7.45 |
● Industrials | 6.85 |
● Healthcare | 4.60 |
● Real Estate | 3.34 |
● Energy | 2.97 |
● Basic Materials | 1.93 |
● Other/Cash | 0.49 |
Credit Quality (%)† as of 02/28/23
Composite | % of Net Assets | |
---|---|---|
Investment Grade | BBB | 85.01 |
Non-Investment Grade | BB | 14.37 |
Total Investment Grade | -- | 85.01 |
Total Non-Investment Grade | -- | 14.37 |
Maturity (%)
as of 02/28/23
Average Portfolio Maturity: 10.50 Years