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LFEQ
VanEck Vectors NDR CMG Long/Flat Allocation ETF

Fund Description

VanEck Vectors® NDR CMG Long/Flat Allocation 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

  • Custodian

    State Street Bank and Trust Company

  • Index Ticker

    NDRCMGLF

  • Commencement

    10/04/2017

 
as of 02/26/20

  • 30-Day SEC Yield1

    1.37%

  • Total Net Assets

    $74.1M

  • Number of Holdings

    1

  • Options

    Expected

  • Gross Expense Ratio2

    0.71%

  • Net Expense Ratio/TER2

    0.60%

  • Distribution Frequency

    Annual

  • Next Distribution Date

    12/28/2020

Key Points

  • Tactically allocates between S&P 500 equities and U.S. T-bills
    Based on a breadth model that measures 24 industries, not just the top line S&P 500 return

  • Seeks to minimize impact of market downturns and participate in uptrends
    Measures short, intermediate and long-term trends and includes a mean reversion signal to participate in bounce backs

  • 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

    2,550,000

  • Estimated Cash

    LFEQEU

  • Total Cash

    LFEQTC

  • CUSIP

    92189F148

  • ISIN

    US92189F1488
Source: Bloomberg

Fees and Expenses2

  • Management Fee

    0.50%

  • Other Expenses

    0.18%

  • Acquired Fund Fees and Expenses

    0.03%

  • Gross Expense Ratio

    0.71%

  • Fee Waivers and
    Expense Reimbursement

    -0.11%

  • Net Expense Ratio/TER2

    0.60%
2Expenses for LFEQ are capped contractually at 0.55% until February 1, 2021. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Prices as of 02/26/20

NAV/
Last 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 		NAV
Chart
LFEQ $29.06
$29.11		 17,670
116,624		 -$0.13 / -0.44%
$-0.62 / -2.07%		 -3.38%
-3.21%
 $0.04
0.15%

Premium/Discount History as of 02/21/20

Calendar Year 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 148 27 26 24 14
LFEQ Days closed at NAV 22 13 11 10 17
Days closed at a discount 81 21 26 30 33

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) -0.08 6.52 -0.08 18.40 -- -- -- 9.52
LFEQ (Share Price) 0.00 6.81 0.00 18.38 -- -- -- 9.55
NDRCMGLF (Index) -0.04 6.72 -0.04 18.97 12.03 -- -- 10.13
Performance Differential (NAV - Index) -0.04 -0.20 -0.04 -0.57 -- -- -- -0.61
S&P 500 Index -0.04 6.72 -0.04 21.68 14.54 12.37 13.97 13.06
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
10/04/17
LFEQ (NAV) 2.93 8.89 23.58 23.58 -- -- -- 9.94
LFEQ (Share Price) 2.89 8.83 24.06 24.06 -- -- -- 9.93
NDRCMGLF (Index) 3.02 9.07 24.23 24.23 12.64 -- -- 10.55
Performance Differential (NAV - Index) -0.09 -0.18 -0.65 -0.65 -- -- -- -0.61
S&P 500 Index 3.02 9.07 31.49 31.49 15.27 11.70 13.56 13.60

*Returns less than one year are not annualized.

Effective November 1, 2019, Ned Davis Research implemented several changes to the Ned Davis Research CMG Long/Flat Allocation Index construction rules. Among other changes, the methodology of the strategy evolved to reflect new enhancements to factors for composition and timeliness. Additional enhancements include the removal of smoothing on the breadth score, and adjustments to the trade signal to be either 100%, 50%, or 0% invested into equities. Past performance is no guarantee of future results.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that distributions have been reinvested in the Fund at NAV.

The "Net Asset Value" (NAV) of a Market Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; 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. Market Vectors ETF investors should not expect to buy or sell shares at NAV.

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.

Daily Holdings (%) as of 02/25/20 Download All Holdings

Total Holdings: 1
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full data
Holding Name
Ticker
Shares Market Value
(US$) 		% of Net
Assets
Vanguard S&P 500 ETF
VOO US
259,227
74,486,286 100.07
Other/Cash
--
--
-49,568 -0.07
Total (%) 100.00
These are not recommendations to buy or to sell any security. Securities and holdings may vary.