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FLTR
VanEck Vectors Investment Grade Floating Rate ETF

Fund Description

VanEck Vectors® Investment Grade Floating Rate ETF (FLTR®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Investment Grade Floating Rate Index (MVFLTR), which consists of U.S. dollar denominated floating rate notes issued by corporate issuers and rated investment grade.

Why FLTR?

 
 

  • Fund Ticker

    FLTR
  • Exchange

    NYSE Arca
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    MVFLTR
  • Index Rebalancing

    Monthly
  • 2020 Preliminary NAIC
    Designation8

    1

 
as of 07/10/20

  • 30-Day SEC Yield1

    1.34%
  • Total Net Assets

    $469.9M
  • Number of Holdings

    310
  • Options

    Expected
  • Gross Expense Ratio2

    0.40%
  • Net Expense Ratio/TER2

    0.14%
  • Distribution Frequency

    Monthly
1,2,8 See Important Disclosure

Morningstar™ Ratings3
as of 05/31/2020

Category Overall 3 Year 5 Year
Ultrashort Bond
4 stars of 162 funds
3 stars of 162 funds
4 stars of 124 funds

Key Points

  • Potential to Benefit from Rising Rates7
    Floating rate notes have variable coupons that reset periodically
  • Investment Grade Credit Quality
    Underlying index is comprised of a non-leveraged portfolio of investment grade floating rate corporate bonds
  • Near-Zero Duration with Enhanced Yield Potential
    Floating rate notes may offer higher yields than other short duration instruments

Yield
as of 07/10/20

  • 30-Day SEC Yield1

    1.34%
  • Distribution Yield1

    1.31%
  • 12-Month Yield1

    2.44%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.35%
  • Other Expenses

    0.05%
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.40%
  • Fee Waivers and
    Expense Reimbursement

    -0.26%
  • Net Expense Ratio/TER2

    0.14%
2Expenses for FLTR are capped contractually at 0.14% until September 1, 2020. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    FLTR
  • Index Total Return Ticker

    MVFLTR
  • NAV

    FLTRNV
  • Intraday NAV (IIV)5

    FLTRIV
  • Shares Outstanding

    18,750,000
  • Estimated Cash

    FLTREU
  • Total Cash

    FLTRTC
  • CUSIP

    92189F486
  • ISIN

    US92189F4862
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 07/10/20

  • Yield to Worst

    1.01%
  • Yield to Maturity

    1.05%
  • Effective Duration (yrs)

    0.04
  • Years to Maturity

    2.82
  • Modified Duration (yrs)

    0.11
  • Spread Duration (yrs)

    2.48
  • Coupon

    1.47%
 4 See Important Disclosure for definitions.

Prices as of 07/10/20

NAV/
Market 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
30-Day
Median
Bid Ask
Spread
NAV
Chart
FLTR $25.06
$25.03
49,000
34,906
$0.00 / +0.01%
$0.00 / +0.00%
+0.36%
+0.12%
$-0.03
-0.13%
0.12%

Premium/Discount History as of 07/10/20

Calendar Year 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 66 16 9 40 32
FLTR Days closed at NAV 50 17 7 18 6
Days closed at a discount 136 30 48 6 24

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 1.06 5.58 0.16 1.85 2.41 2.11 -- 1.53
FLTR (Share Price) 0.95 6.53 0.03 1.93 2.32 2.15 -- 1.53
MVFLTR (Index) 1.13 5.79 0.13 2.15 2.64 2.47 -- 1.94
Performance Differential (NAV - Index) -0.07 -0.21 0.03 -0.30 -0.23 -0.36 -- -0.41
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 1.06 5.58 0.16 1.85 2.41 2.11 -- 1.53
FLTR (Share Price) 0.95 6.53 0.03 1.93 2.32 2.15 -- 1.53
MVFLTR (Index) 1.13 5.79 0.13 2.15 2.64 2.47 -- 1.94
Performance Differential (NAV - Index) -0.07 -0.21 0.03 -0.30 -0.23 -0.36 -- -0.41

Top 10 Holdings (%) as of 06/30/20 Daily Holdings

Total Holdings: 308
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
AT&T INC
1.498
06/12/2024
BBB
United States
USD
2.02
GOLDMAN SACHS GROUP INC/THE
1.110
02/23/2023
BBB+
United States
USD
1.85
MORGAN STANLEY
2.420
10/24/2023
A-
United States
USD
1.78
JPMORGAN CHASE & CO
2.250
10/24/2023
A
United States
USD
1.43
WELLS FARGO & CO
1.990
10/31/2023
A
United States
USD
1.42
CITIGROUP INC
1.780
09/01/2023
A-
United States
USD
1.42
HSBC HOLDINGS PLC
1.386
05/18/2024
A
United Kingdom
USD
1.39
GOLDMAN SACHS GROUP INC/THE
1.963
11/28/2023
BBB+
United States
USD
1.31
VERIZON COMMUNICATIONS INC
1.492
05/15/2025
BBB+
United States
USD
1.28
MORGAN STANLEY
1.668
05/08/2024
A-
United States
USD
1.24
Top 10 Total (%) 15.14

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 06/30/20

  • Country

    % of Net Assets
  • United States

    54.81
  • United Kingdom

    10.17
  • Japan

    10.06
  • Australia

    6.46
  • Canada

    4.81
  • Switzerland

    3.59
  • Germany

    3.42
  • Netherlands

    1.47
  • China

    1.45
  • France

    1.08
  • Spain

    1.06
  • Sweden

    0.87
  • Norway

    0.41
  • Singapore

    0.21
  • South Korea

    0.09
  • Other/Cash

    0.03

Currency Exposure (%)
as of 06/30/20

  • U.S. Dollar

    99.98
  • Other/Cash

    0.03

Sector Weightings (%) as of 06/30/20

  • Sector

    % of Net Assets
  • Financial

    78.8
  • Communications

    7.1
  • Consumer, Non-cyclical

    3.8
  • Consumer, Cyclical

    3.7
  • Energy

    2.0
  • Technology

    2.0
  • Industrial

    2.0
  • Utilities

    0.5
  • Basic Materials

    0.1
  • Other/Cash

    0.0

Credit Quality (%) as of 06/30/20

Composite % of Net Assets
Investment Grade AA 14.04
A 60.01
BBB 25.95
Total Investment Grade -- 100.00
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.

Maturity (%) as of 06/30/20

 Average Portfolio Maturity: 2.79 Years