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IHY
VanEck Vectors International High Yield Bond ETF

Fund Description

The VanEck Vectors® International High Yield Bond ETF (IHY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE BofAML Global ex-US Issuers High Yield Constrained Index (HXUS), which is comprised of U.S. dollar, Canadian dollar, pound sterling, and euro denominated below investment grade corporate bonds issued by non-U.S. corporations in the major domestic or Eurobond markets.

 
 

  • Fund Ticker

    IHY

  • Exchange

    NYSE Arca

  • Commencement

    04/02/2012

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Custodian

    State Street Bank and Trust Company

  • Index Ticker

    HXUS

  • Index Rebalancing

    Monthly

  • 2019 Preliminary NAIC
    Designation7

    4

 
as of 02/26/20

  • 30-Day SEC Yield1

    4.00%

  • Total Net Assets

    $114.7M

  • Number of Holdings

    659

  • Options

    Available

  • Gross Expense Ratio2

    0.54%

  • Net Expense Ratio/TER2

    0.40%

  • Distribution Frequency

    Monthly

  • Next Distribution Date

    02/28/2020
1, 2, 7 See Important Disclosure. 

Morningstar™ Ratings3
as of 1/31/2020

Category Overall 3 Year 5 Year
High Yield Bond
4 stars of 621 funds
4 stars of 621 funds
4 stars of 542 funds

Key Points

Diversified non-U.S. high yield exposure
International high yield bonds represent over 45% of the global high-yield market8
Higher credit quality
Historically lower default rates than U.S. high-yield bonds9
Reduced interest rate risk
Historically lower duration than U.S. high-yield bonds10

Yield
as of 02/26/20

  • 30-Day SEC Yield1

    4.00%

  • Distribution Yield1

    4.93%

  • 12-Month Yield1

    4.91%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%

  • Other Expenses

    0.14%

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.54%

  • Fee Waivers and
    Expense Reimbursement

    -0.14%

  • Net Expense Ratio/TER2

    0.40%
2Expenses for IHY are capped contractually at 0.40% until September 1, 2020. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    IHY

  • Index Total Return Ticker

    HXUS

  • NAV

    IHYNV

  • Intraday NAV (IIV)5

    IHYIV

  • Shares Outstanding

    4,600,000

  • Estimated Cash

    IHYEU

  • Total Cash

    IHYTC

  • CUSIP

    92189F445

  • ISIN

    US92189F4458
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 02/25/20

  • Yield to Worst

    4.56%

  • Yield to Maturity

    4.98%

  • Effective Duration (yrs)

    3.46

  • Years to Maturity

    5.46

  • Modified Duration (yrs)

    4.04

  • Coupon

    5.57%
 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
IHY $24.92
$24.92		 35,543
18,708		 -$0.09 / -0.37%
$0.02 / +0.08%		 +0.11%
+0.07%
 $0.00
-0.02%

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 52 11 4 6 14
IHY Days closed at NAV 14 2 1 2 12
Days closed at a discount 185 48 58 56 38

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
04/02/12
IHY (NAV) 0.69 2.68 0.69 9.30 5.58 5.81 -- 5.39
IHY (Share Price) 0.62 2.99 0.62 9.59 5.59 5.96 -- 5.39
HXUS (Index) 0.43 2.98 0.43 10.14 6.26 6.55 -- 6.12
Performance Differential (NAV - Index) 0.26 -0.30 0.26 -0.84 -0.68 -0.74 -- -0.73
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) 1.59 3.77 12.75 12.75 6.28 5.20 -- 5.36
IHY (Share Price) 1.73 4.01 12.70 12.70 6.59 5.52 -- 5.37
HXUS (Index) 2.10 4.33 13.50 13.50 6.97 5.83 -- 6.13
Performance Differential (NAV - Index) -0.51 -0.56 -0.75 -0.75 -0.69 -0.63 -- -0.77

*Returns less than one year are not annualized.

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 dividends and capital gains distributions have been reinvested in the Fund at NAV.

The "Net Asset Value" (NAV) of a VanEck 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. VanEck Vectors ETF investors should not expect to buy or sell shares at NAV.

The "After Tax Held" represents total return after taxes on distributions and assumes shares have not been sold. "After Tax Sold" represents total return after taxes on distributions and the sale of Fund shares. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. After-tax returns are based on NAV.

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

Total Holdings: 676
Swipe
to view
full data
Holding Name
Coupon
Maturity
Composite
Rating
Country†
Currency
% of Net
Assets
ALTICE FRANCE SA/FRANCE
7.375
05/01/2026
B
Luxembourg
USD
0.65
SOFTBANK GROUP CORP
6.000
01/19/2066
B+
Japan
USD
0.59
CHINA EVERGRANDE GROUP
8.750
06/28/2025
B
China
USD
0.59
VODAFONE GROUP PLC
3.100
01/03/2079
BB+
United Kingdom
EUR
0.50
BANCO DO BRASIL SA/CAYMAN
3.875
10/10/2022
BB-
Brazil
USD
0.49
ALTICE FINANCING SA
6.625
02/15/2023
B
Luxembourg
USD
0.45
PETROBRAS GLOBAL FINANCE BV
7.375
01/17/2027
BB-
Brazil
USD
0.43
INTRUM AB
3.125
07/15/2024
BB
Sweden
EUR
0.41
PETROBRAS GLOBAL FINANCE BV
5.999
01/27/2028
BB-
Brazil
USD
0.40
TELECOM ITALIA SPA/MILANO
5.303
05/30/2024
BB+
Italy
USD
0.38
Top 10 Total (%) 4.89

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

    12.37
  • ■

    Brazil

    9.50
  • ■

    United Kingdom

    8.48
  • ■

    Italy

    6.96
  • ■

    Canada

    5.96
  • ■

    United States

    4.85
  • ■

    Luxembourg

    4.54
  • ■

    France

    4.00
  • ■

    Germany

    3.77
  • ■

    Spain

    3.50
  • ■

    Turkey

    3.46
  • ■

    Israel

    2.22
  • ■

    Netherlands

    2.14
  • ■

    India

    2.00
  • ■

    Russia

    1.93
  • ■

    Japan

    1.75
  • ■

    Mexico

    1.47
  • ■

    Argentina

    1.25
  • ■

    South Africa

    1.20
  • ■

    Uae

    1.13
  • ■

    Other/Cash

    17.53

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

  • U.S. Dollar

    65.20

  • Euro

    29.64

  • GBP

    4.12

  • Canadian Dollar

    0.73

  • Other/Cash

    0.31

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

  • Sector

    % of Net Assets
  • ■

    Financial

    29.6
  • ■

    Communications

    17.2
  • ■

    Energy

    10.6
  • ■

    Consumer, Non-cyclical

    10.1
  • ■

    Consumer, Cyclical

    9.7
  • ■

    Basic Materials

    8.2
  • ■

    Industrial

    8.0
  • ■

    Utilities

    4.4
  • ■

    Technology

    1.0
  • ■

    Diversified

    0.6
  • ■

    Government

    0.4
  • ■

    Other/Cash

    0.3

Credit Quality (%) as of 01/31/20

Composite % of Net Assets
Investment Grade BBB 0.10
Non-Investment Grade BB 63.65
B 30.86
CCC 4.91
C 0.01
Total Investment Grade -- 0.10
Total Non-Investment Grade -- 99.42
Not Rated -- 0.48
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 01/31/20

 Average Portfolio Maturity: 5.44 Years