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MBBB
VanEck 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 09/26/22

  • 30-Day SEC Yield1

    5.48%
  • Total Net Assets

    $8.0M
  • Number of Holdings

    163
  • Options

    No
  • Gross Expense Ratio2

    0.25%
  • Net Expense Ratio/TER2

    0.25%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    09/30/2022
Click here to read the Recommended Insights - Whitepaper: Uncover Hidden Value in Credit
Click here to read the Recommended Insights - Whitepaper: Uncover Hidden Value in Credit

Key Points

  • 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 09/26/22

  • 30-Day SEC Yield1

    5.48%
  • Distribution Yield1

    3.51%
  • 12-Month Yield1

    2.98%
 1 See Important Disclosure for definitions.

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%

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. 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
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 09/26/22

  • Yield to Worst

    6.25%
  • Yield to Maturity

    6.25%
  • Effective Duration (yrs)

    6.05
  • Years to Maturity

    9.84
  • Modified Duration (yrs)

    6.28
  • Spread Duration (yrs)

    6.25
  • Coupon

    4.38%
 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
  • 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 09/26/22

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
MBBB $20.00
$19.95
218
6
$-0.24 / -1.16%
$-0.28 / -1.40%
-17.88%
-18.23%
$-0.06
-0.28%
0.10%

Premium/Discount History as of 09/26/22

Calendar Year 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 198 59 55 46 31
MBBB Days closed at NAV 26 4 5 7 6
Days closed at a discount 28 1 4 9 25

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) -2.47 -2.62 -14.46 -15.44 -- -- -- -7.65
MBBB (Share Price) -3.12 -3.00 -14.78 -15.79 -- -- -- -7.77
MVBI (Index) -2.47 -2.44 -14.96 -15.83 -- -- -- -7.82
Performance Differential (NAV - Index) 0.00 -0.18 0.50 0.39 -- -- -- 0.17
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
12/01/20
MBBB (NAV) -3.02 -7.16 -14.81 -14.97 -- -- -- -8.67
MBBB (Share Price) -3.01 -7.16 -14.79 -15.00 -- -- -- -8.58
MVBI (Index) -2.90 -7.03 -15.36 -15.38 -- -- -- -8.89
Performance Differential (NAV - Index) -0.12 -0.13 0.55 0.41 -- -- -- 0.22

Top 10 Holdings (%) as of 08/31/22 Daily Holdings

Total Holdings: 163
Swipe
to view
full data
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
T-Mobile Usa Inc
3.750
04/15/2027
United States
USD
1.81
T-Mobile Usa Inc
3.500
04/15/2025
United States
USD
1.78
Enel Finance International Nv
3.625
05/25/2027
Italy
USD
1.69
Barclays Plc
2.645
06/24/2031
United Kingdom
USD
1.67
Charter Communications Operating Llc /
4.908
07/23/2025
United States
USD
1.50
Charter Communications Operating Llc /
5.050
03/30/2029
United States
USD
1.47
Altria Group Inc
4.800
02/14/2029
United States
USD
1.45
Oracle Corp
2.500
04/01/2025
United States
USD
1.44
Credit Suisse Group Ag
4.194
04/01/2031
Switzerland
USD
1.28
Time Warner Cable Llc
7.300
07/01/2038
United States
USD
1.25
Top 10 Total (%) 15.33

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 08/31/22

  • Country

    % of Net Assets
  • United States

    62.87
  • France

    9.55
  • United Kingdom

    7.45
  • Canada

    5.42
  • Netherlands

    3.74
  • Italy

    2.28
  • Switzerland

    1.74
  • Denmark

    1.47
  • Brazil

    1.21
  • Mexico

    0.97
  • Luxembourg

    0.75
  • Spain

    0.47
  • China

    0.44
  • Germany

    0.32
  • Ireland

    0.30
  • Saudi Arabia

    0.30
  • Norway

    0.29
  • Other/Cash

    0.42

Currency Exposure (%)
as of 08/31/22

  • U.S. Dollar

    99.58
  • Other/Cash

    0.42

Sector Weightings (%) as of 08/31/22

  • Sector

    % of Net Assets
  • Financials

    27.7
  • Technology

    22.0
  • Consumer Non-Cyclicals

    10.6
  • Consumer Cyclicals

    10.1
  • Healthcare

    7.6
  • Energy

    6.4
  • Industrials

    5.2
  • Basic Materials

    3.6
  • Real Estate

    3.4
  • Utilities

    3.0
  • Other/Cash

    0.4

Credit Quality (%) as of 08/31/22

Composite % of Net Assets
Investment Grade BBB 84.04
Non-Investment Grade BB 15.96
Total Investment Grade -- 84.04
Total Non-Investment Grade -- 15.96

Maturity (%) as of 08/31/22

Average Portfolio Maturity: 9.92 Years