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Daily Price as of 08/22/19

NAV DAILY CHANGE
$6.38 $0.01 / +0.2%

Class A Details: EMBAX

INCEPTION DATE GROSS/NET EXPENSES1
07/09/12 2.05%/1.26%

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(07/09/12)
VanEck Unconstrained Emerging Markets Bond Fund: Class A
At Net Asset Value 2.12 5.58 12.00 7.98 4.79 -0.09 -- 2.08
At Maximum 5.75% Sales Charge -3.75 -0.48 5.48 1.78 2.73 -1.26 -- 1.23
50% GBI-EM/50% EMBI2 1.07 5.95 11.21 9.52 4.87 2.74 -- 3.10
GBI-EM Index2 0.93 6.80 9.73 7.95 4.36 -0.06 -- 0.60
EMBI Index2 1.21 5.08 12.66 10.98 5.27 5.47 -- 5.54
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(07/09/12)
VanEck Unconstrained Emerging Markets Bond Fund: Class A
At Net Asset Value 4.06 3.61 9.67 9.27 4.39 -0.50 -- 1.80
At Maximum 5.75% Sales Charge -1.98 -2.33 3.29 2.99 2.36 -1.66 -- 0.94
50% GBI-EM/50% EMBI2 4.45 4.86 10.03 10.77 4.91 2.46 -- 2.98
GBI-EM Index2 5.51 5.64 8.72 8.99 4.24 -0.45 -- 0.47
EMBI Index2 3.40 4.08 11.31 12.45 5.47 5.30 -- 5.42

Growth of Hypothetical $10,000 Investment as of 07/31/2019

The graph above illustrates a hypothetical $10,000 investment in Class A shares of the VanEck Unconstrained Emerging Markets Bond Fund invested at NAV versus its benchmark and other Indices. Returns reflect capital appreciation and the reinvestment of dividends and capital gains, if any, as well as all fees and expenses, but do not reflect any sales load. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund's performance. Indices are not securities in which investments can be made. Results reflect past performance and do not guarantee future results.

2019 Monthly Returns (%)

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Unconstrained Emerging Markets Bond Fund: Class A
At Net Asset Value(NAV)
5.05 0.30 0.47 0.22 -0.66 4.06 2.12 -- -- -- -- --
5050EMB Index2 4.93 -0.05 0.05 0.03 0.35 4.45 1.07 -- -- -- -- --
GBI-EM Index2 5.46 -1.09 -1.33 -0.18 0.30 5.51 0.93 -- -- -- -- --
EMBI Index2 4.41 1.00 1.42 0.24 0.41 3.40 1.21 -- -- -- -- --
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 Fund incurred all expenses and fees, investment returns would have been reduced. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

Distribution History (Class A)

RECORD DATE DECLARATION DATE
EX-DATE
REINVEST DATE
PAYABLE DATE
DIVIDEND
INCOME*
SHORT-TERM
CAPITAL GAINS
LONG-TERM
CAPITAL GAINS
RETURN
OF
CAPITAL
TOTAL DISTRIBUTIONS
07/22/19 07/23/19 $0.0389 -- -- -- $0.0389
06/20/19 06/21/19 $0.0366 -- -- -- $0.0366
05/22/19 05/23/19 $0.0381 -- -- -- $0.0381
04/22/19 04/23/19 $0.0236 -- -- -- $0.0236
03/21/19 03/22/19 $0.0304 -- -- -- $0.0304
02/20/19 02/21/19 $0.0193 -- -- -- $0.0193
01/22/19 01/23/19 $0.0402 -- -- -- $0.0402
12/20/18 12/21/18 $0.0420 -- -- -- $0.0420
11/20/18 11/21/18 $0.0300 -- -- -- $0.0300
10/22/18 10/23/18 $0.0310 -- -- -- $0.0310
09/20/18 09/21/18 $0.0350 -- -- -- $0.0350
08/22/18 08/23/18 $0.0380 -- -- -- $0.0380
07/20/18 07/23/18 $0.0430 -- -- -- $0.0430
06/21/18 06/22/18 $0.0270 -- -- -- $0.0270
05/22/18 05/23/18 $0.0390 -- -- -- $0.0390
04/20/18 04/23/18 $0.0270 -- -- -- $0.0270
03/21/18 03/22/18 $0.0400 -- -- -- $0.0400
02/20/18 02/21/18 $0.0430 -- -- -- $0.0430
01/22/18 01/23/18 $0.0220 -- -- -- $0.0220
12/20/17 12/21/17 $0.0610 -- -- -- $0.0610
11/20/17 11/21/17 $0.0440 -- -- -- $0.0440
10/23/17 10/24/17 $0.0780 -- -- -- $0.0780
09/21/17 09/22/17 $0.0510 -- -- -- $0.0510
08/22/17 08/23/17 $0.0470 -- -- -- $0.0470
07/20/17 07/21/17 $0.0320 -- -- -- $0.0320
06/22/17 06/23/17 $0.0370 -- -- -- $0.0370
05/22/17 05/23/17 $0.0530 -- -- -- $0.0530
04/20/17 04/21/17 $0.0480 -- -- -- $0.0480
03/22/17 03/23/17 $0.0410 -- -- -- $0.0410
02/21/17 02/22/17 $0.0340 -- -- -- $0.0340
01/20/17 01/23/17 $0.0200 -- -- -- $0.0200
12/21/16 12/22/16 $0.0132 -- -- $0.0088 $0.0220
11/21/16 11/22/16 $0.0072 -- -- $0.0048 $0.0120
10/20/16 10/21/16 $0.0102 -- -- $0.0068 $0.0170
09/21/16 09/22/16 $0.0138 -- -- $0.0092 $0.0230
08/22/16 08/23/16 $0.0162 -- -- $0.0108 $0.0270
07/21/16 07/22/16 $0.0096 -- -- $0.0064 $0.0160
06/22/16 06/23/16 $0.0276 -- -- $0.0184 $0.0460
05/20/16 05/23/16 $0.0210 -- -- $0.0140 $0.0350
04/21/16 04/22/16 $0.0168 -- -- $0.0112 $0.0280
03/21/16 03/22/16 $0.0108 -- -- $0.0072 $0.0180
02/22/16 02/23/16 $0.0090 -- -- $0.0060 $0.0150
01/21/16 01/22/16 $0.0072 -- -- $0.0048 $0.0120
12/21/15 12/22/15 -- -- -- $0.0440 $0.0440
11/20/15 11/23/15 -- -- -- $0.0390 $0.0390
10/21/15 10/22/15 -- -- -- $0.0370 $0.0370
09/21/15 09/22/15 -- -- -- $0.0410 $0.0410
08/20/15 08/21/15 -- -- -- $0.0600 $0.0600
07/21/15 07/22/15 -- -- -- $0.0660 $0.0660
06/22/15 06/23/15 -- -- -- $0.0610 $0.0610
05/21/15 05/22/15 -- -- -- $0.0330 $0.0330
04/21/15 04/22/15 -- -- -- $0.0180 $0.0180
03/20/15 03/23/15 -- -- -- $0.0180 $0.0180
02/20/15 02/23/15 -- -- -- $0.0220 $0.0220
01/22/15 01/23/15 -- -- -- $0.0200 $0.0200
12/22/14 12/23/14 $0.0330 -- -- $0.0130 $0.0460
11/19/14 11/20/14 $0.0250 -- -- $0.0100 $0.0350
10/23/14 10/24/14 $0.0310 -- -- $0.0130 $0.0440
09/22/14 09/23/14 $0.0340 -- -- $0.0140 $0.0480
08/21/14 08/22/14 $0.0300 -- -- $0.0120 $0.0420
07/23/14 07/24/14 $0.0330 -- -- $0.0130 $0.0460
06/20/14 06/23/14 $0.0310 -- -- $0.0130 $0.0440
05/21/14 05/22/14 $0.0330 -- -- $0.0130 $0.0460
04/22/14 04/23/14 $0.0360 -- -- $0.0140 $0.0500
03/21/14 03/24/14 $0.0350 -- -- $0.0140 $0.0490
02/19/14 02/20/14 $0.0310 -- -- $0.0120 $0.0430
01/23/14 01/24/14 $0.0360 -- -- $0.0150 $0.0510

All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck Funds will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck Funds on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.

Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.

Click here to access more detailed yearend tax information.

Tax Documents

  • Name

NAV History Class A
as of 07/31/19

TIME PERIOD
12-Month High (07/22/19) 6.66
12-Month Low (12/21/18) 6.11

MONTH END
July 2019 6.65
June 2019 6.55
May 2019 6.33
April 2019 6.41
March 2019 6.42
February 2019 6.42
January 2019 6.42
December 2018 6.15
November 2018 6.17
October 2018 6.28
September 2018 6.38
August 2018 6.32

Fund Statistics (Class A) 
as of 07/31/19

Effective Duration (Years) 5.59
Average Yield to Worst 7.68
Average Years to Maturity 11.76
Distribution Yield 7.02%

Source: VanEck, FactSet.
See Important Disclosure for more information.

 

30-Day SEC Yield* Class A 
as of 07/31/19

30-Day SEC Yield 6.17%

* 30-Day SEC Yield is a standard calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the Fund's expenses for the period. In the absence of temporary fee waivers, the 30-Day SEC Yield for EMBAX would have been 5.35% as of 07/31/19.

Important Disclosure

Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics.

NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase.  No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distribution. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge.  See the prospectus and summary prospectus for more information.

1Van Eck Associates Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 1.25% for Class A, 1.95% for Class C, 0.95% for Class I, and 1.00% for Class Y of the Fund’s average daily net assets per year until May 1, 2020. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

2The Fund's benchmark index (50% GBI-EM/50% EMBI) is a blended index consisting of 50% J.P. Morgan Government Bond Index-Emerging Markets (GBI-EM) Global Diversified and 50% J.P. Morgan Emerging Markets Bond Index (EMBI). The J.P. Morgan GBI-EM Global Diversified tracks local currency bonds issued by Emerging Markets governments. The index spans over 15 countries. The J.P. Morgan EMBI Global Diversified tracks returns for actively traded external debt instruments in emerging markets, and is also J.P. Morgan’s most liquid U.S-dollar emerging markets debt benchmark. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The index may not be copied, used or distributed without J.P. Morgan’s written approval. Copyright 2014, J.P. Morgan Chase & Co. All rights reserved.

3Average Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Effective duration takes into account that expected cash flows will fluctuate as interest rates change. Effective maturity is the length of time until a fixed income investment returns its original investment. Distribution Yield is the amount of cash flow paid out and is calculated by dividing the annual income (interest or dividends) by the current price of the security. Averages are market weighted. These statistics do not take into account fees and expenses associated with investments or the Fund.

The views and opinions expressed are those of VanEck. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks associated with its investments in below investment grade securities, credit, currency management strategies, debt securities, derivatives, emerging market securities, foreign currency transactions, foreign securities, hedging, other investment companies, Latin American issuers, management, market, non-diversification, operational, portfolio turnover, restricted securities, sectors and sovereign bond risks. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. As the Fund may invest in securities denominated in foreign currencies and some of the income received by the Fund will be in foreign currencies, changes in currency exchange rates may negatively impact the Fund’s return. Derivatives may involve certain costs and risks such as liquidity, interest rate, and the risk that a position could not be closed when most advantageous. The Fund may also be subject to risks associated with non-investment grade securities.

Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. Bond and bond funds will decrease in value as interest rates rise. The prospectus and summary prospectus contain this and other information.  Please read them carefully before investing.