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EMRCX
Emerging Markets Fund - Class C

  • China was the first with the virus, but is now turning the corner and getting back to work.
  • Implications on Chinese companies – top contributors to performance have been ecommerce, video streaming, cloud infrastructure, pharmaceutical innovation and telemedicine names.
  • Implications on Chinese companies - top detractors to performance have been companies that require socialization and travel / tourism. Please note, we have limited exposure to such companies.
  • For more information please visit our recent blog post, Harnessing Growth: WuXi Biologics and the Race for a COVID-19 Vaccine.

Read Blog

  • China was the first with the virus, but is now turning the corner and getting back to work.
  • Implications on Chinese companies – top contributors to performance have been ecommerce, video streaming, cloud infrastructure, pharmaceutical innovation and telemedicine names.
  • Implications on Chinese companies - top detractors to performance have been companies that require socialization and travel / tourism. Please note, we have limited exposure to such companies.
  • For more information please visit our recent blog post, Harnessing Growth: WuXi Biologics and the Race for a COVID-19 Vaccine.

Read Blog

Daily Price as of 03/30/20

NAV DAILY CHANGE
$11.89 $-0.03 / -0.3%

Class C Details: EMRCX

INCEPTION DATE GROSS/NET EXPENSES1
10/03/03 2.27%/2.27%

Country Weightings (%) as of 02/29/20

Country % of Net Assets
China
37.3
India
10.9
Brazil
8.5
South Africa
4.9
Philippines
4.4
South Korea
3.3
Mexico
3.3
Russia
3.2
Turkey
3.1
Taiwan
2.9
Thailand
2.4
Egypt
2.4
Other EM
12.6
Cash
0.8

Top 10 Holdings (%)

Holdings Sector % of Net Assets
Alibaba Group Holding Ltd. Consumer Discretionary 6.6
Ping An Insurance (Group) Company of China, Ltd. Class H Financials 5.7
Tencent Holdings Ltd. Communication Services 5.2
HDFC Bank Limited Financials 4.4
A-Living Services Co. Ltd. Class H Industrials 4.1
Prosus N.V. Class N Consumer Discretionary 2.4
Samsung SDI Co., Ltd Information Technology 2.1
Ayala Land Inc. Financials 1.9
Delivery Hero SE Consumer Discretionary 1.7
Sberbank Russia PJSC Financials 1.6
Top 10 Total 35.7
Holdings Sector % of Net Assets
Alibaba Group Holding Ltd. Consumer Discretionary 6.2
Ping An Insurance (Group) Company of China, Ltd. Class H Financials 5.5
Tencent Holdings Ltd. Communication Services 4.6
HDFC Bank Limited Financials 4.6
A-Living Services Co. Ltd. Class H Industrials 3.2
Prosus N.V. Class N Consumer Discretionary 2.4
Ayala Land Inc. Financials 2.1
Movida Participacoes SA Industrials 1.8
Delivery Hero SE Consumer Discretionary 1.8
Sberbank Russia PJSC Financials 1.7
Top 10 Total 33.9
These are not recommendations to buy or sell any security. Holdings may vary.

Sector Weightings (%)
as of 02/29/20

Sector % of Net Assets
Financials 29.9
Consumer Discretionary 29.2
Communication Services 10.7
Industrials 10.4
Health Care 5.9
Information Technology 5.8
Real Estate 3.6
Consumer Staples 2.8
Energy 0.9
Materials 0.0
Cash 0.8

Fund Details
as of 02/29/20

  • Net Assets (All Classes)
    $2099.6M
  • Number of Holdings
    86
  • Avg. Wtd. Market Cap
    $13.1B
  • Turnover Rate (2019)
    23.0%
  • P/E (LTM) / P/E (Forward)*
    17.1 / 16.5
  • P/B (LTM)*
    3.3
  • Benchmark Index
    MSCI EM IMI
*Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

Market Capitalization Breakdown (%) as of 02/29/20

Market Capitalization % of Net Assets
Large (>= $10 billion) 49.4%
Mid (< $10 billion >= $2 billion) 28.2%
Small (< $2 billion) 22.4%
Average Weighted Market Cap $13.1B

Market capitalization (cap) is the value of a corporation as determined by the market price of its issued and outstanding common stock.

Three-Year Risk Measures and Statistics 
as of 02/29/20

Volatility (Standard Deviation) 15.76
Sharpe Ratio 0.51
Alpha vs. MSCI EME IMI 5.07
Beta vs. MSCI EME IMI 1.00
R-squared vs. MSCI EME IMI 85.53
Source: VanEck and FactSet.
Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.

Five-Year Risk Measures and Statistics 
as of 02/29/20

Volatility (Standard Deviation) 16.43
Sharpe Ratio 0.16
Alpha vs. MSCI EME IMI 1.35
Beta vs. MSCI EME IMI 0.96
R-squared vs. MSCI EME IMI 86.65
Source: VanEck and FactSet.
Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.

Industry Benchmarks: Know Your Indices

  • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.

  • The Morgan Stanley Capital International (MSCI) Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The MSCI Emerging Markets Index consists of the following 23 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.

  • The MSCI Emerging Markets Investable Market Index (IMI) is a free float adjusted market capitalization index that is designed to capture large-, mid- and small-cap representation across 23 emerging markets countries. Emerging Markets countries include: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Russia, Qatar, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.

All indices listed are unmanaged and are not securities in which investments can be made.

Important Disclosure

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

* The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. The information herein represents the opinion of the author(s), but not necessarily those of VanEck.

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 distributions. 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.

*Other expenses of Class Z are based on estimated amounts for the current fiscal year.

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 1.60% for Class A, 2.50% for Class C, 1.00% for Class I, 1.10% for Class Y, and 0.90% for Class Z of the Fund’s average daily net assets per year until May 1, 2021. 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 MSCI Emerging Markets Investment Market Index (MSCI EM IMI) is a free float-adjusted market capitalization index that is designed to capture large-, mid- and small-cap representation across 24 emerging markets countries. Emerging Markets countries include: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Russia, Qatar, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. The Morgan Stanley Capital International (MSCI) Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The MSCI Emerging Markets Index consists of the following 24 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.

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 the risks associated with its investments in Chinese issuers, communication services sectors, direct investments, emerging market securities which tends to be more volatile and less liquid than securities traded in developed countries, foreign currency transactions, foreign securities, other investment companies, Stock Connect, management, market, operational, sectors and small- and medium-capitalization companies risks . The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, or political, economic or social instability.

Investing involves risk, including possible loss of principal. Please call 800.826.2333 or visit vaneck.com for a free prospectus and summary prospectus. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read the prospectus and summary prospectus carefully before investing.