IHYVanEck 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 BofA 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 -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
HXUS -
Index Rebalancing
Monthly -
2020 Preliminary NAIC
4.A
Designation7
as of 03/03/21
-
30-Day SEC Yield1
3.37% -
Total Net Assets
$108.2M -
Number of Holdings
740 -
Options
Available -
Gross Expense Ratio2
0.62% -
Net Expense Ratio/TER2
0.40% -
Distribution Frequency
Monthly
Key Points
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 03/03/21
-
30-Day SEC Yield1
3.37% -
Distribution Yield1
3.97% -
12-Month Yield1
4.62%
Fees & Expenses2
-
Management Fee
0.40% -
Other Expenses
0.22% -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.62% -
Fee Waivers andExpense Reimbursement
-0.22% -
Net Expense Ratio/TER2
0.40%
Trading Information
-
Fund Ticker
IHY -
Index Total Return Ticker
HXUS -
NAV
IHYNV -
Intraday NAV (IIV)5
IHYIV -
Shares Outstanding
4,200,000 -
Estimated Cash
IHYEU -
Total Cash
IHYTC -
CUSIP
92189F445 -
ISIN
US92189F4458
Fundamentals4
as of 03/02/21
-
Yield to Worst
3.81% -
Yield to Maturity
4.25% -
Effective Duration (yrs)
3.19 -
Years to Maturity
4.61 -
Modified Duration (yrs)
3.87 -
Coupon
5.15%
Investment Professionals
Francis G. Rodilosso, CFA
- Portfolio Manager and Head of Fixed Income ETFs
- Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
- Joined VanEck in 2012
- Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
- Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
- CFA charterholder; member of CFA Society New York
- MBA (with distinction), Finance, University of Pennsylvania
- AB, History, Princeton University
Daniel Cho
- Analyst for Fixed Income ETFs
- Joined VanEck in 2013
- Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
- MS, Finance, University of Rochester
- BS, Information Sciences and Technology, Pennsylvania State University
Stephanie Wang
- Quantitative Analyst for Fixed Income ETFs
- Joined VanEck in 2016
- MS, Financial Engineering, Baruch College
- BBA, Finance, Baruch College
Jared Model
- Trader for Fixed Income ETFs
- Joined VanEck in 2017
- Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
- MBA, Finance, Montclair State University
- BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont
Prices as of 03/03/21
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 04/02/12 |
|
---|---|---|---|---|---|---|---|---|
IHY (NAV) | 0.11 | 7.29 | 0.11 | 7.97 | 4.54 | 7.99 | -- | 5.68 |
IHY (Share Price) | -0.32 | 7.58 | -0.32 | 7.63 | 4.51 | 7.99 | -- | 5.64 |
HXUS (Index) | -0.19 | 7.90 | -0.19 | 8.61 | 5.00 | 8.74 | -- | 6.40 |
Performance Differential (NAV - Index) | 0.30 | -0.61 | 0.30 | -0.64 | -0.46 | -0.75 | -- | -0.72 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 04/02/12 |
|
---|---|---|---|---|---|---|---|---|
IHY (NAV) | 2.17 | 7.39 | 8.59 | 8.59 | 5.30 | 7.73 | -- | 5.73 |
IHY (Share Price) | 2.69 | 7.42 | 8.64 | 8.64 | 5.34 | 7.97 | -- | 5.74 |
HXUS (Index) | 2.72 | 8.34 | 9.28 | 9.28 | 5.78 | 8.41 | -- | 6.49 |
Performance Differential (NAV - Index) | -0.55 | -0.95 | -0.69 | -0.69 | -0.48 | -0.68 | -- | -0.76 |
Top 10 Holdings (%) as of 01/31/21 Daily Holdings
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
|
0.71 | |
VODAFONE GROUP PLC |
3.100
|
01/03/2079
|
BB+
|
United Kingdom
|
EUR
|
0.49 | |
SUNAC CHINA HOLDINGS LTD |
7.950
|
08/08/2022
|
BB-
|
China
|
USD
|
0.42 | |
SOFTBANK GROUP CORP |
6.250
|
04/15/2028
|
BB
|
Japan
|
USD
|
0.39 | |
INTRUM AB |
3.125
|
07/15/2024
|
BB
|
Sweden
|
EUR
|
0.35 | |
PETROBRAS GLOBAL FINANCE BV |
5.093
|
01/15/2030
|
BB-
|
Brazil
|
USD
|
0.35 | |
KWG GROUP HOLDINGS LTD |
5.875
|
11/10/2024
|
BB-
|
China
|
USD
|
0.35 | |
TELECOM ITALIA SPA/MILANO |
3.625
|
05/25/2026
|
BB+
|
Italy
|
EUR
|
0.33 | |
ALTICE FRANCE SA/FRANCE |
8.125
|
02/01/2027
|
B
|
Luxembourg
|
USD
|
0.33 | |
ROLLS-ROYCE PLC |
1.625
|
05/09/2028
|
BB
|
United Kingdom
|
EUR
|
0.33 | |
Top 10 Total (%) | 4.05 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%) as of 01/31/21
-
Country
% of Net Assets -
■
China
10.04 -
■
Brazil
8.87 -
■
Italy
8.25 -
■
United Kingdom
7.86 -
■
France
6.20 -
■
Germany
5.68 -
■
Canada
5.20 -
■
Luxembourg
4.92 -
■
Mexico
4.58 -
■
Spain
3.84 -
■
India
2.49 -
■
Turkey
2.39 -
■
United States
2.36 -
■
Netherlands
2.12 -
■
Israel
2.03 -
■
Russia
1.82 -
■
Japan
1.44 -
■
Uae
1.18 -
■
South Africa
1.16 -
■
Colombia
1.13 -
■
Other/Cash
16.43
Currency Exposure (%)
as of 01/31/21
-
U.S. Dollar
58.96 -
Euro
35.82 -
British Pound
3.72 -
Canadian Dollar
0.61 -
Other/Cash
0.89
Sector Weightings (%) as of 01/31/21
-
Sector
% of Net Assets -
■
Financials
33.7 -
■
Technology
11.8 -
■
Industrials
11.4 -
■
Basic Materials
9.4 -
■
Energy
9.3 -
■
Consumer Cyclicals
6.7 -
■
Real Estate
6.3 -
■
Utilities
4.6 -
■
Consumer Non-Cyclicals
3.1 -
■
Healthcare
2.5 -
■
Industrial
0.0 -
■
Other/Cash
1.1
Credit Quality (%) as of 01/31/21
Composite | % of Net Assets | |
---|---|---|
Non-Investment Grade | BB | 67.76 |
B | 26.39 | |
CCC | 4.91 | |
CC | 0.21 | |
D | 0.18 | |
Total Non-Investment Grade | -- | 99.45 |
Not Rated | -- | 0.55 |
Maturity (%) as of 01/31/21
Average Portfolio Maturity: 4.70 Years