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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.

 
 

  • Fund Ticker

    FLTR
  • Exchange

    NYSE Arca
  • Commencement

    04/25/2011
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    Bank of New York Mellon
  • Index Ticker

    MVFLTR
  • Index Rebalancing

    Monthly
  • 2019 NAIC
    Designation8

    1

 
as of 10/21/19

  • 30-Day SEC Yield1

    2.66%
  • Total Net Assets

    $477.4M
  • Number of Holdings

    368
  • Options

    Expected
  • Gross Expense Ratio2

    0.40%
  • Net Expense Ratio/TER2

    0.14%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    10/31/2019
1,2,8 See Important Disclosure

Morningstar™ Ratings3
as of 09/31/2019

Category Overall 3 Year 5 Year
Ultrashort Bond
4 stars of 154 funds
5 stars of 154 funds
4 stars of 130 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 10/21/19

  • 30-Day SEC Yield1

    2.66%
  • Distribution Yield1

    2.87%
  • 12-Month Yield1

    3.16%
 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

    18,900,000
  • Estimated Cash

    FLTREU
  • Total Cash

    FLTRTC
  • CUSIP

    92189F486
  • ISIN

    US92189F4862
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 10/21/19

  • Yield to Worst

    2.53%
  • Yield to Maturity

    2.58%
  • Effective Duration (yrs)

    0.04
  • Years to Maturity

    3.09
  • Modified Duration (yrs)

    0.11
  • Spread Duration (yrs)

    2.49
  • Coupon

    3.01%
 4 See Important Disclosure for definitions.

Prices as of 10/21/19

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
FLTR $25.26
$25.27
65,432
32,184
$0.01 / +0.05%
$0.01 / +0.04%
+4.82%
+5.10%
$0.01
0.05%

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) 0.32 0.89 4.60 3.01 2.80 1.89 -- 1.56
FLTR (Share Price) 0.37 0.94 4.78 2.85 2.78 1.78 -- 1.55
MVFLTR (Index) 0.34 0.95 4.46 3.22 3.07 2.23 -- 1.97
Performance Differential (NAV - Index) -0.02 -0.06 0.14 -0.21 -0.27 -0.34 -- -0.41
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 0.32 0.89 4.60 3.01 2.80 1.89 -- 1.56
FLTR (Share Price) 0.37 0.94 4.78 2.85 2.78 1.78 -- 1.55
MVFLTR (Index) 0.34 0.95 4.46 3.22 3.07 2.23 -- 1.97
Performance Differential (NAV - Index) -0.02 -0.06 0.14 -0.21 -0.27 -0.34 -- -0.41

Top 10 Holdings (%) as of 09/30/19 Daily Holdings

Total Holdings: 374
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country
Currency
% of Net
Assets
At&T Inc
3.312
06/12/2024
BBB
United States
USD
2.01
Goldman Sachs Group Inc/The
2.898
02/23/2023
BBB+
United States
USD
1.53
Morgan Stanley
3.683
10/24/2023
A-
United States
USD
1.49
Citigroup Inc
3.568
09/01/2023
A-
United States
USD
1.20
Wells Fargo & Co
3.486
10/31/2023
A
United States
USD
1.19
Jpmorgan Chase & Co
3.513
10/24/2023
A
United States
USD
1.19
Morgan Stanley
3.208
07/22/2022
A-
United States
USD
1.18
Hsbc Holdings Plc
3.124
05/18/2024
A+
United Kingdom
USD
1.18
Goldman Sachs Group Inc/The
3.717
11/28/2023
BBB+
United States
USD
1.09
Verizon Communications Inc
3.258
05/15/2025
BBB+
United States
USD
1.06
Top 10 Total (%) 13.12

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 09/30/19

  • Country

    % of Net Assets
  • United States

    59.58
  • Japan

    8.93
  • United Kingdom

    7.64
  • Australia

    5.27
  • Germany

    3.80
  • Canada

    3.68
  • Switzerland

    2.97
  • Netherlands

    2.22
  • France

    1.53
  • China

    1.23
  • Spain

    1.15
  • Sweden

    0.88
  • Singapore

    0.51
  • South Korea

    0.22
  • Italy

    0.19
  • Finland

    0.11
  • Norway

    0.06
  • Other/Cash

    0.01

Currency Exposure (%)
as of 09/30/19

  • U.S. Dollar

    99.99
  • Other/Cash

    0.01

Sector Weightings (%) as of 09/30/19

  • Sector

    % of Net Assets
  • Financial

    74.2
  • Communications

    7.1
  • Consumer, Cyclical

    5.9
  • Consumer, Non-cyclical

    4.8
  • Technology

    2.7
  • Industrial

    2.2
  • Energy

    1.5
  • Utilities

    1.4
  • Basic Materials

    0.1
  • Other/Cash

    0.0

Credit Quality (%) as of 09/30/19

Composite % of Net Assets
Investment Grade AAA 0.32
AA 15.69
A 59.29
BBB 24.69
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 09/30/19

 Average Portfolio Maturity: 3.12 Years