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CLOI
VanEck CLO ETF

Fund Description

The VanEck CLO ETF (CLOI) is an actively managed ETF, sub-advised by PineBridge Investments, seeking capital preservation and current income. It invests primarily in investment grade-rated tranches of collateralized loan obligations (“CLOs”) of any maturity.

 
 

  • Fund Ticker

    CLOI
  • Exchange

    NYSE Arca
  • Inception Date

    06/21/2022
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • 2022 Preliminary NAIC Designation7

    1.F

  as of 11/30/22

  • 30-Day SEC Yield1

    5.80%
  • Total Net Assets

    $25.2M
  • Number of Holdings

    18
  • Options

    No
  • Gross Expense Ratio2

    0.40%
  • Net Expense Ratio/TER2

    0.40%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    12/27/2022
 1,2,8 Read Important Disclosure.

Fund Highlights

  • Portfolio of investment grade floating rate CLOs with limited exposure to rising rates

  • Yield pickup versus similarly rated corporate bonds and loans with built-in protection against credit loss**

  • Actively managed by PineBridge, drawing on decades of CLO experience
**Source: J.P. Morgan and ICE Data Services.

Yield as of 11/30/22

  • 30-Day SEC Yield1

    5.80%
  • Distribution Yield1

    4.32%
  • 12-Month Yield1

    --

Fees and Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    --
  • Gross Expense Ratio

    0.40%
  • Net Expense Ratio/TER2

    0.40%

2Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least May 1, 2024.

Trading Information

  • Fund Ticker

    CLOI
  • NAV

    CLOINV
  • Shares Outstanding

    500,000
  • Estimated Cash

    CLOIEU
  • Total Cash

    CLOITC
  • CUSIP

    92189H748
  • ISIN

    US92189H7483

Fundamentals4 as of 11/30/22

  • Yield to Worst

    6.32%
  • Yield to Maturity

    6.32%
  • Spread Duration(Yrs)

    4.83
  • Weighted Average Life

    5.90
  • Coupon

    5.68%
  • Discount Margin

    240
 4See Important Disclosure for definitions.

Investment Professionals

  • Head of Fixed Income ETF Portfolio Management
  • Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
  • Joined VanEck in 2012
  • Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
  • Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
  • CFA charterholder; member of CFA Society New York
  • MBA (with distinction), Finance, University of Pennsylvania
  • AB, History, Princeton University
  • Joined PineBridge Investments in 2015
  • Responsible for managing the investments in Collateralized Loan Obligations (“CLOs”) issued by third-party managers
  • Prior to PineBridge Investments, Managing Director, Head of European Structured Products Trading at Raymond James Financial in London
  • Previously, Head of European ABS/CDO Syndicate & Trading at Cohen & Company Securities LLP and advised Commerzbank on US & European securitized product portfolios
  • CFA charterholder
  • MBA, The Wharton School of the University of Pennsylvania
  • MA, Joseph H. Lauder Institute, University of Pennsylvania
  • BA, Wellesley College

Prices as of 11/30/22

NAV/
Market
Price
Volume
30-Day Avg./
Last Trading Day
Daily Change
NAV/
Last Price
YTD Change NAV/
Last Price
Premium/
Discount
30-Day
Median
Bid Ask
Spread
NAV
Chart
CLOI $50.40
$50.64
2,827
6,764
$0.01 / +0.03%
$0.00 / -0.01%
+2.18%
+2.64%
$0.23
0.46%
0.10%

Premium/Discount History as of 11/30/22

Since Inception 4Q 2021 1Q 2022 2Q 2022 3Q 2022 Premium/Discount Charts NAV & Prem/Discount History
CLOI Days closed at a premium 110 0 0 6 62
Days closed at NAV 0 0 0 0 0
Days closed at a discount 3 0 0 1 2

Performance History: Average Annual Total Returns* (%)

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
06/21/22
CLOI (NAV) 0.14 -0.48 -- -- -- -- -- 0.24
CLOI (Share Price) -0.67 -0.02 -- -- -- -- -- 0.64
J.P. Morgan Collateralized Loan Obligation Index 0.33 -0.35 -- -- -- -- -- 0.00
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
06/21/22
CLOI (NAV) -1.58 0.02 -- -- -- -- -- 0.10
CLOI (Share Price) -0.74 0.87 -- -- -- -- -- 1.32
J.P. Morgan Collateralized Loan Obligation Index -1.57 -0.11 -- -- -- -- -- -0.33

Top 10 Holdings (%) as of 10/31/22

Daily Holdings
Total Holdings: 18
Holding Name
Coupon
Maturity
Currency
% of Net
Assets
Ares Lxi Clo Ltd
5.893
10/20/2034
USD
9.45
Dryden 93 Clo Ltd
5.679
01/15/2034
USD
6.65
Ocp Clo 2020-19 Ltd
5.943
10/20/2034
USD
6.61
Cedar Funding Viii Clo Ltd
5.729
10/17/2034
USD
6.54
Bain Capital Credit Clo 2021-4 Ltd
5.893
10/20/2034
USD
6.48
Barings Clo Ltd 2022-Ii
4.276
07/15/2035
USD
4.97
Gulf Stream Meridian 1 Ltd
5.449
04/15/2033
USD
4.88
Goldentree Loan Opportunities Ix Ltd
5.715
10/29/2029
USD
4.87
Cifc Funding 2014-Iii Ltd
4.209
10/22/2031
USD
4.86
Dryden 45 Senior Loan Fund
5.479
10/15/2030
USD
4.86
Top 10 Total (%) 60.18
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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

‡See Country of Risk disclosure. 

Credit Quality (%) as of 10/31/22

Composite % of Net Assets
Investment Grade AAA 29.59
AA 45.99
A 9.49
Total Investment Grade -- 85.07
Not Rated -- 14.93

Currency Exposure (%) as of 10/31/22

U.S. Dollar 98.43
Other/Cash 1.57

Maturity (%)
as of 10/31/22

Average Portfolio Maturity: 10.91 Years

Maturity (%)

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