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CBON
VanEck Vectors ChinaAMC China Bond ETF

Fund Description

The VanEck Vectors® ChinaAMC China Bond ETF (CBON®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ChinaBond China High Quality Bond Index (CHQU01TR), which is comprised of fixed-rate, Renminbi ("RMB")-denominated bonds issued in the People's Republic of China by Chinese credit, governmental and quasi-governmental (e.g., policy banks) issuers.

 
 

  • Fund Ticker

    CBON
  • Exchange

    NYSE Arca
  • Commencement

    11/10/2014
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    CHQU01TR
  • Index Rebalancing

    Monthly

 
as of 02/26/20

  • 30-Day SEC Yield1

    2.70%
  • Total Net Assets

    $4.5M
  • Number of Holdings

    24
  • Options

    Expected
  • Gross Expense Ratio2

    2.25%
  • Net Expense Ratio/TER2

    0.50%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    02/28/2020

Key Points

  • Access to China's Onshore Bonds
    Largest emerging markets bond market, once closed to U.S. investors

  • Attractive Yields, Low Correlation
    Yield premium to developed bond markets and low correlation to core asset classes

  • Sub-Advised by ChinaAMC (H.K.)
    One of the largest asset managers in China*
* By mutual fund and ETF assets under management as of December 31, 2016.

Yields
as of 02/26/20

  • 30-Day SEC Yield1

    2.70%
  • Distribution Yield1

    3.82%
  • 12-Month Yield1

    3.90%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    1.85%
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    2.25%
  • Fee Waivers and
    Expense Reimbursement

    -1.75%
  • Net Expense Ratio/TER2

    0.50%
2Expenses for CBON are capped contractually at 0.50% until September 1, 2020. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    CBON
  • Index Total Return Ticker

    CHQU01TR
  • NAV

    CBONNV
  • Intraday NAV (IIV)5

    CBONIV
  • Shares Outstanding

    200,000
  • Estimated Cash

    CBONEU
  • Total Cash

    CBONTC
  • CUSIP

    92189F379
  • ISIN

    US92189F3799
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 02/25/20

  • Yield to Maturity

    2.97%
  • Coupon

    4.44%
  • Modified Duration (yrs)

    2.47
  • Years to Maturity

    2.84
 4 See Important Disclosure for definitions.

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
CBON $22.26
$22.23
1,039
573
-$0.01 / -0.05%
$-0.04 / -0.18%
+0.64%
+1.13%
$-0.03
-0.16%

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 28 1 14 12 9
CBON Days closed at NAV 6 2 2 5 4
Days closed at a discount 217 58 47 47 51

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
11/10/14
CBON (NAV) 0.25 2.22 0.25 -0.36 2.93 1.28 -- 0.92
CBON (Share Price) 0.50 1.99 0.50 -0.54 3.24 1.42 -- 0.86
CHQU01TR (Index) 1.37 3.82 1.37 1.24 4.42 2.71 -- 2.20
Performance Differential (NAV - Index) -1.12 -1.60 -1.12 -1.60 -1.49 -1.43 -- -1.28
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
11/10/14
CBON (NAV) 1.15 3.28 2.68 2.68 3.59 1.41 -- 0.89
CBON (Share Price) 0.25 2.57 2.75 2.75 3.79 1.04 -- 0.78
CHQU01TR (Index) 1.34 3.58 3.15 3.15 4.55 2.46 -- 1.97
Performance Differential (NAV - Index) -0.19 -0.30 -0.47 -0.47 -0.96 -1.05 -- -1.08

Top 10 Holdings (%) as of 01/31/20 Daily Holdings

Total Holdings: 24
Swipe
to view
full data
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
CHINA GOVERNMENT BOND
3.400
04/17/2023
China
CNY
17.70
CHINA DEVELOPMENT BANK
3.910
04/06/2022
China
CNY
11.52
CHINA GOVERNMENT BOND
4.260
07/31/2021
China
CNY
5.09
CHINA SOUTH INDUSTRIES GROUP CO LTD
4.450
04/19/2020
China
CNY
4.61
CHINA STATE RAILWAY GROUP CO LTD
4.630
08/25/2021
China
CNY
4.18
CHINA PETROLEUM & CHEMICAL CORP
4.900
06/01/2022
China
CNY
4.12
JIANGXI GANYUE EXPRESSWAY CO LTD
5.150
04/19/2023
China
CNY
3.98
TIANJIN INFRASTRUCTURE CONSTRUCTION & I
5.700
02/26/2023
China
CNY
3.76
CHINA MERCHANTS SECURITIES CO LTD
5.080
05/26/2025
China
CNY
3.53
CHINA FORTUNE LAND DEVELOPMENT CO LTD
4.040
03/03/2021
China
CNY
3.49
Top 10 Total (%) 61.98

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Source: Bloomberg.  Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Country Weightings (%) as of 01/31/20

  • Country

    % of Net Assets
  • China

    100.31
  • Other/Cash

    -0.31

Currency Exposure (%)
as of 01/31/20

  • China Renminbi

    100.31
  • Other/Cash

    -0.31

Sector Weightings (%) as of 01/31/20

  • Sector

    % of Net Assets
  • Financial

    41.7
  • Government

    24.3
  • Industrial

    13.2
  • Energy

    7.5
  • Consumer, Non-cyclical

    7.2
  • Consumer, Cyclical

    6.3
  • Other/Cash

    -0.3

Maturity (%) as of 01/31/20

 Average Portfolio Maturity: 2.92 Years