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EMLC
VanEck J.P. Morgan EM Local Currency Bond UCITS ETF

Fund Description

VanEck J.P. Morgan EM Local Currency Bond UCITS ETF offers access to a diversified and liquid portfolio of Emerging Market bonds for investors that are looking for a yield pick-up versus other fixed income segments. It provides an attractive blend of risk and reward because emerging market countries tend to have less leveraged public finances, and their central banks have increasingly adopted conventional monetary policies.

  • Significantly higher yields than developed market bonds of the same quality
  • Portfolio of bonds issued by emerging markets governments in their local currencies
  • Diversified across 19 countries
  • Restricted to countries whose debt can be freely traded by international investors
  • Current lowest total expense ratio among all European ETFs in this category


Risk factors: Foreign Currency Risk, Emerging Markets Risk, Credit Risk



Underlying Index

J.P. Morgan GBI-EMG Core Index (GBIEMCOR)

Fund Details
 

  • Fund Ticker

    EMLC

  • Management Company

    VanEck Asset Management B.V.

  • Custodian

    State Street Custodial Services (Ireland) Limited

  • Domicile

    Ireland

  • UCITS Compliant

    Yes

  • Index Ticker

    GBIEMCOR

  • Index Provider

    J.P. Morgan

  • Rebalance Frequency

    Monthly
1The "Net Asset Value" (NAV) of all ETFs is determined at the close of each business day, and represents the 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. Investors should not expect to buy or sell ETF shares at NAV.

2The date the fund was launched prior to quotation on the stock exchange.

 
as of 28 Mar 2023

  • NAV1

    55.92

  • Shares Outstanding

    2,136,000

  • Number of Holdings

    319

  • Base Currency

    USD

  • Net Assets

    $119.4M

  • Product Structure

    Physical (Optimized)

  • Income Treatment

    Reinvestment

  • Distribution Frequency

    None

  • Total Expense Ratio

    0.30%

  • SFDR Classification

    Article 6
  • Fact Sheet

Fundamentals3
as of 28 Mar 2023

  • Yield to Worst

    %

  • Yield to Maturity

    %

  • Effective Duration (yrs)

    --

  • Years to Maturity

    --

  • Modified Duration (yrs)

    --

  • Coupon

    %
3These figures represent averages. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Yield to Maturity is the annualized return on a bond held to maturity. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bonds with embedded options. Modified Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. Spread Duration measures a bond's price sensitivity to a 100 basis point change to its option-adjusted spread. As the rate of the Treasury security in the option-adjusted spread increases, the rate of the option-adjusted spread also increases. Years to Maturity is the period of time for which a financial instrument remains outstanding. Maturity refers to a finite time period at the end of which the financial instrument will cease to exist and the principal is repaid. Coupon is measured by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid on a fixed-income security on an annual basis. Averages are market weighted. The Coupon and Yield to Worst do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

Trading Information as of 28 Mar 2023

Deutsche
Börse
EUR
Exchange Ticker EM1C
ISIN IE00BDS67326
SEDOL BYPCZ25
Bloomberg EM1C GY
Reuters (RIC) G2X1.DE
Valor 36453832
Bloomberg iNAV EMLCUEIV
Reuters iNAV ESGBEURINAV=SOLA
WKN A2DQKN
Trading Currency EUR
Last Traded Price 51.52
Day's Move 0.05
Volume 2,910
30 Day Volume 3,724
VWAP Volume 2,910

NAVs as of 28 Mar 2023

Base
Currency 		NAV Daily
Change
NAV 		YTD
Change
NAV 		NAV Price
History 		Total
Expense
Ratio
EMLC USD $55.92 $0.30 / +0.55% +3.81%
0.30

Performance History* (%)

View All ETFs View All Indices
  1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF -2.58 3.07 0.95 -6.75 -4.25 -3.85 -- -1.65
GBIEMCOR (Index) -2.58 3.11 0.97 -5.93 -3.82 -3.24 -2.01 -1.00
Performance differential (ETF – Index) 0.00 -0.04 -0.02 -0.82 -0.43 -0.61 -- -0.65
  1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR ETF INCEPTION
ETF 2.10 7.89 -10.32 -10.32 -5.96 -3.49 -- -1.86
GBIEMCOR (Index) 2.12 7.84 -10.18 -10.18 -5.52 -2.86 -2.05 -1.20
Performance differential (ETF – Index) -0.02 0.05 -0.14 -0.14 -0.44 -0.63 -- -0.66
  2018 2019 2020 2021 2022
ETF -7.85 9.27 2.66 -9.68 -10.32
GBIEMCOR (Index) -6.90 10.14 3.46 -9.23 -10.18

Past performance does not predict future returns.

ETF returns not available if there is less than one year’s performance data.

*Periods greater than one year are annualised.

Investing is subject to risk, including the possible loss of principal. You must read the Prospectus and

KID

before investing, which are available at the Document section of the fund on www.vaneck.com.

ETF performance: Current performance may be lower or higher than average annual returns shown. Discrete performance shows 12-month performance for each of the last 10 years where available. E.g. '1st year' shows the most recent of these 12-month periods and '2nd year' shows the previous 12 month period and so on.

Performance data for the Irish domiciled ETFs is displayed on a Net Asset Value basis, in Base Currency terms, with net income reinvested, net of fees. Brokerage or transaction fees will apply.

Returns may increase or decrease as a result of currency fluctuations.

Index performance: Performance quoted represents past performance of the underlying Index. An index performance is not illustrative of the Product's performance. It is not possible to invest directly in an index: indices are not securities in which investments can be made.
For more information on the Index performance, please consult the Index Provider´s website.

The VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (the Fund) is not sponsored, endorsed, sold or promoted by J.P. Morgan and J.P. Morgan makes no representation regarding the advisability of investment in the VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (the Fund). J.P. Morgan does not warrant the completeness or accuracy of the J.P. Morgan GBI-EMG Core Index. J.P. Morgan is the marketing name for JPMorgan Chase & Co., and its subsidiaries and affiliates worldwide. Copyright 2020 JPMorgan Chase & Co. All rights reserved.

Market Makers

Top 10 Holdings (%) as of 28 Feb 2023 View All Holdings »

Total Holdings: 312
Swipe<br>to view <br> full data
Holding Name Coupon Maturity
Composite
Rating
Country
Currency
 % of Net
Assets
BRAZIL LETRAS DO TESOURO NACIONAL 0.000 01 Jan 2024 BB- Brazil BRL 2.3472
PHILIPPINE GOVERNMENT INTERNATIONAL BON 6.250 14 Jan 2036 BBB Philippines PHP 1.3415
BRAZIL LETRAS DO TESOURO NACIONAL 0.000 01 Jan 2026 NR Brazil BRL 1.1891
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON 10.500 21 Dec 2026 BB South Africa ZAR 1.1865
DOMINICAN REPUBLIC INTERNATIONAL BOND 9.750 05 Jun 2026 BB- Dominican Republic DOP 1.1135
MEXICAN BONOS 5.750 05 Mar 2026 BBB Mexico MXN 1.0613
MEXICAN BONOS 7.750 29 May 2031 BBB+ Mexico MXN 1.0372
BRAZIL NOTAS DO TESOURO NACIONAL SERIE 10.000 01 Jan 2025 BB- Brazil BRL 0.9698
BRAZIL NOTAS DO TESOURO NACIONAL SERIE 10.000 01 Jan 2027 BB- Brazil BRL 0.9608
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON 8.000 31 Jan 2030 BB South Africa ZAR 0.9337
Top 10 Total (%) 12.1406
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 28 Feb 2023

  • Country

    % of Net Assets
  • ■

    China

    10.02
  • ■

    Indonesia

    9.99
  • ■

    Mexico

    9.01
  • ■

    Brazil

    8.22
  • ■

    Malaysia

    7.50
  • ■

    Thailand

    7.14
  • ■

    South Africa

    6.67
  • ■

    Poland

    5.61
  • ■

    Czech Republic

    5.09
  • ■

    Other/Cash

    30.76

Currency Exposure (%)
as of 28 Feb 2023

  • Chinese Renminbi

    10.02

  • Indonesian Rupiah

    9.99

  • Mexican Peso

    9.01

  • Brazilian Real

    8.22

  • Malaysian Ringgit

    7.50

  • Thailand Baht

    7.14

  • South African Rand

    6.67

  • Polish Zloty

    5.61

  • Czech Koruna

    5.09

  • Romanian Leu

    4.19

  • Colombian Peso

    4.08

  • Hungarian Forint

    4.04

  • Peruvian New Sol

    3.75

  • Chilean Peso

    3.54

  • Turkish Lira

    3.19

  • Egyptian Pound

    2.06

  • Philippines Peso

    1.34

  • Dominican Rep. Peso

    1.33

  • Uruguay Peso

    1.33

  • Serbian Dinar

    1.27

  • Other/Cash

    0.63

Sector Weightings (%) as of 28 Feb 2023

  • Sector

    % of Net Assets
  • ■

    Government Activity

    99.4
  • ■

    Other/Cash

    0.6

Credit Quality (%)† as of 28 Feb 2023

Composite % of Net Assets
Investment Grade AA 4.63
A 25.04
BBB 41.47
Non-Investment Grade BB 18.72
B 2.29
Total Investment Grade -- 71.14
Total Non-Investment Grade -- 21.00
Not Rated -- 4.36

Maturity (%) as of 28 Feb 2023

Average Maturity: 6.85 Years

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