EMLCVanEck 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
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
2The date the fund was launched prior to quotation on the stock exchange.
as of 03 Feb 2023
-
NAV1
56.09 -
Shares Outstanding
2,136,000 -
Number of Holdings
312 -
Base Currency
USD -
Net Assets
$119.8M -
Product Structure
Physical (Optimized) -
Income Treatment
Reinvestment -
Distribution Frequency
None -
Total Expense Ratio
0.30% -
ISA Eligibility
Yes -
SIPP Available
Yes -
UK Reporting Status
Yes -
UK Distributor
Yes -
SFDR Classification
Article 6 - Fact Sheet
- VanEck Product List
- Fund Holiday Calendar
Fundamentals3
as of 03 Feb 2023
-
Yield to Worst
7.28% -
Yield to Maturity
7.37% -
Effective Duration (yrs)
4.84 -
Years to Maturity
6.99 -
Modified Duration (yrs)
4.90 -
Coupon
5.39%
Trading Information as of 03 Feb 2023
Börse
EUR
Exchange Ticker | EM1C |
ISIN | IE00BDS67326 |
SEDOL | BYPCZ25 |
Bloomberg | EM1C GY |
Reuters (RIC) | -- |
Valor | 36453832 |
Bloomberg iNAV | EMLCUEIV |
Reuters iNAV | ESGBEURINAV=SOLA |
WKN | A2DQKN |
Trading Currency | EUR |
Last Traded Price | 51.35 |
Day's Move | -0.69 |
Volume | 2,437 |
30 Day Volume | 4,239 |
VWAP Volume | 2,437 |
Performance History* (%)
1 MO* | 3 MO* | YTD* | 1 YR | 3 YR | 5 YR | 10 YR | ETF INCEPTION | |
---|---|---|---|---|---|---|---|---|
ETF | 3.63 | 12.91 | 3.63 | -7.31 | -4.50 | -3.57 | -- | -1.23 |
GBIEMCOR (Index) | 3.65 | 12.86 | 3.65 | -7.16 | -4.03 | -2.95 | -1.79 | -0.57 |
Performance differential (ETF – Index) | -0.02 | 0.05 | -0.02 | -0.15 | -0.47 | -0.62 | -- | -0.66 |
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 |
Market Makers
Authorised Participants
Registered Countries
Top 10 Holdings (%) as of 31 Jan 2023 View All Holdings »
Holding Name | Coupon | Maturity |
Composite
Rating |
Country
|
Currency
|
% of Net Assets |
---|---|---|---|---|---|---|
BRAZIL LETRAS DO TESOURO NACIONAL | 0.000 | 01 Jan 2024 | BB- | Brazil | BRL | 2.3720 |
PHILIPPINE GOVERNMENT INTERNATIONAL BON | 6.250 | 14 Jan 2036 | BBB | Philippines | PHP | 1.3000 |
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON | 10.500 | 21 Dec 2026 | BB | South Africa | ZAR | 1.2281 |
BRAZIL LETRAS DO TESOURO NACIONAL | 0.000 | 01 Jan 2026 | NR | Brazil | BRL | 1.1853 |
MEXICAN BONOS | 5.750 | 05 Mar 2026 | BBB | Mexico | MXN | 1.0550 |
MEXICAN BONOS | 7.750 | 29 May 2031 | BBB+ | Mexico | MXN | 1.0400 |
BRAZIL NOTAS DO TESOURO NACIONAL SERIE | 10.000 | 01 Jan 2027 | BB- | Brazil | BRL | 0.9775 |
BRAZIL NOTAS DO TESOURO NACIONAL SERIE | 10.000 | 01 Jan 2025 | BB- | Brazil | BRL | 0.9673 |
REPUBLIC OF SOUTH AFRICA GOVERNMENT BON | 8.000 | 31 Jan 2030 | BB | South Africa | ZAR | 0.9669 |
DOMINICAN REPUBLIC INTERNATIONAL BOND | 9.750 | 05 Jun 2026 | BB- | Dominican Republic | DOP | 0.9236 |
Top 10 Total (%) | 12.0157 |
Country Weightings (%) as of 31 Jan 2023
-
Country
% of Net Assets -
■
Indonesia
10.15 -
■
China
9.97 -
■
Mexico
8.75 -
■
Brazil
8.28 -
■
Malaysia
7.79 -
■
Thailand
7.43 -
■
South Africa
6.95 -
■
Poland
5.74 -
■
Czech Republic
5.09 -
■
Other/Cash
29.87
Currency Exposure (%)
as of 31 Jan 2023
-
Indonesian Rupiah
10.15 -
Chinese Renminbi
9.97 -
Mexican Peso
8.75 -
Brazilian Real
8.28 -
Malaysian Ringgit
7.79 -
Thailand Baht
7.43 -
South African Rand
6.95 -
Polish Zloty
5.74 -
Czech Koruna
5.09 -
Colombian Peso
4.43 -
Hungarian Forint
4.14 -
Romanian Leu
4.10 -
Chilean Peso
3.66 -
Peruvian New Sol
3.45 -
Turkish Lira
2.81 -
Egyptian Pound
1.99 -
Philippines Peso
1.30 -
Uruguay Peso
1.29 -
Serbian Dinar
1.25 -
Dominican Rep. Peso
1.13 -
Other/Cash
0.32
Sector Weightings (%) as of 31 Jan 2023
-
Sector
% of Net Assets -
■
Government Activity
99.7 -
■
Other/Cash
0.3
Credit Quality (%)† as of 31 Jan 2023
Composite | % of Net Assets | |
---|---|---|
Investment Grade | AA | 4.68 |
A | 25.77 | |
BBB | 41.99 | |
Non-Investment Grade | BB | 19.05 |
B | 2.19 | |
Total Investment Grade | -- | 72.45 |
Total Non-Investment Grade | -- | 21.23 |
Not Rated | -- | 3.98 |
Maturity (%) as of 31 Jan 2023
Average Maturity: 6.91 Years