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VanEck iBoxx EUR Sovereign Capped AAA-AA 1-5 UCITS ETF

Index Description

The Markit iBoxx EUR Liquid Sovereign Capped AAA-AA 1-5 Index is composed of 15 liquid investment grade government bonds. It only consists of AAA or AA rated bonds. All bonds are denominated in Euro. The outstanding amount is at least EUR 2 billion. The weight per country is capped at 30%. 

Underlying Index
Markit iBoxx EUR Liquid Sovereign Capped AAA-AA 1-5 Index(IES11TR)



The index has the followings specifications:

  • It is a weighted index based on free float-adjusted market capitalisation.
  • The Markit iBoxx EUR Liquid Sovereigns Capped AAA-AA 1-5 Index consists of the approximately 15 largest and most liquid euro denominated government bonds with a remaining maturity of 1.25 to 5.5 years. The index only consists of AAA or AA rated bonds with an outstanding amount of at least 2 billion euro.
  • The weight per country is capped at 30%.
  • The ETF aims, insofar as possible and practicable, to invest in bonds that form part of the index and meet the credit rating criteria (AA). If the bonds are downrated, the ETF may continue to hold such bonds until they are no longer part of the index and it is practicable to sell them.
  • The index may be reviewed quarterly on the last trading day of February, May, August and November.
  • The universe of the underlying index consists of all euro denominated bonds.

Index Provider
Markit Group Limited


Download Index Composition
Download Index Methodology


Index Information
 

  • Index Provider

    IHS Markit

  • Index Type

    Total Return

  • Currency

    EUR

  • Rebalance Frequency

    Quarterly

  • Bloomberg Ticker

    IBXXS15T

Index Fundamentals
as of 03 Feb 2023

  • Yield to Worst

    2.29%

  • Yield to Maturity

    2.29%

  • Effective Duration (yrs)

    3.59

  • Years to Maturity

    3.73

  • Modified Duration (yrs)

    3.58

  • Coupon

    1.20%

Index Top 10 Constituents (%) as of 31 Jan 2023

Total Constituents: 15
Constituent Name
Coupon
Maturity
 Weighting (%)
France (Govt Of)
0.000
25 Oct 2027
 10.58
France (Govt Of)
0.000
25 May 2028
 10.13
France (Govt Of)
0.000
25 May 2026
 9.23
Bundesrepub. Deutschland
0.500
15 Feb 2026
 9.03
Bundesrepub. Deutschland
0.500
15 Aug 2027
 8.55
Bundesrepub. Deutschland
0.000
15 Aug 2026
 8.50
Belgium Kingdom
0.000
28 Mar 2028
 6.86
Belgium Kingdom
0.800
22 Jun 2025
 6.18
Netherlands Government
0.250
15 Jul 2025
 5.35
Netherlands Government
0.000
15 Jul 2026
 5.04
Top 10 Total (%) 79.46
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 31 Jan 2023

  • Country

    Weightings (%)
  • ■

    France

    29.9
  • ■

    Germany

    26.1
  • ■

    Belgium

    17.6
  • ■

    Netherlands

    15.3
  • ■

    Austria

    11.0

Index Sector Weightings (%) as of 31 Jan 2023

  • Sector

    Weightings (%)
  • ■

    Government Activity

    100.0

Credit Quality (%)†
as of 31 Jan 2023

Composite % of Net Assets
Investment Grade AAA 41.43
AA 51.71
Total Investment Grade -- 93.14
Not Rated -- 6.86

Maturity (%) as of 31 Jan 2023

Average Maturity: 3.74 Years

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