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GRNB
VanEck Green Bond ETF

Fund Description

VanEck Green Bond ETF (GRNB®) seeks to replicate, as closely as possible, before fees and expenses, the price and yield performance of the S&P Green Bond U.S. Dollar Select Index (SPGRUSST). The index is comprised of U.S. dollar-denominated green bonds that are issued to finance environmentally friendly projects, and includes bonds issued by supranational, government, and corporate issuers globally.

 
 

  • Fund Ticker

    GRNB

  • Exchange

    NYSE Arca

  • Inception Date

    03/03/2017

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Index Ticker

    SPGRUSST

  • Index Rebalancing

    Monthly

  • 2022 Preliminary NAIC Designation7

    2.C

 
as of 09/30/22

  • 30-Day SEC Yield1

    4.87%

  • Total Net Assets

    $79.0M

  • Number of Holdings

    327

  • Options

    No

  • Gross Expense Ratio2

    0.20%

  • Net Expense Ratio/TER2

    0.20%

  • Distribution Frequency

    Monthly

  • Next Distribution Date

    10/31/2022
1,2 See Important Disclosure.
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Fund FAQ
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Morningstar™ Ratings3
as of 08/31/2022

Category Overall 3 Year 5 Year
Global Bond
4 stars of 190 funds
4 stars of 190 funds
4 stars of 171 funds

3 Morningstar Ratings: When applicable, ratings shown when the ETF is rated three stars or more for any given period. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

© Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Key Points

  • Access bonds issued to finance projects that have a positive impact on the environment

  • A sustainable investment solution for a core bond portfolio

  • Index includes only U.S. dollar-denominated bonds designated as “green” by the Climate Bonds Initiative

Yield
as of 09/30/22

  • 30-Day SEC Yield1

    4.87%

  • Distribution Yield1

    2.63%

  • 12-Month Yield1

    2.55%
 1 See Important Disclosure for definitions.

Fees and Expenses2

  • Management Fee

    0.20%

  • Other Expenses

    --

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.20%

  • Fee Waivers and
    Expense Reimbursement

    --

  • Net Expense Ratio/TER2

    0.20%

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 September 1, 2023.

Trading Information

  • Fund Ticker

    GRNB

  • Index Total Return Ticker

    SPGRUSST

  • NAV

    GRNBNV

  • Intraday NAV (IIV)5

    GRNBIV

  • Shares Outstanding

    3,500,000

  • Estimated Cash

    GRNBEU

  • Total Cash

    GRNBTC

  • CUSIP

    92189F171

  • ISIN

    US92189F1710
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 09/30/22

  • Yield to Worst

    5.60%

  • Yield to Maturity

    5.61%

  • Effective Duration (yrs)

    4.91

  • Years to Maturity

    7.03

  • Modified Duration (yrs)

    5.11

  • Coupon

    2.61%
 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
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2013
  • Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
  • MS, Finance, University of Rochester
  • BS, Information Sciences and Technology, Pennsylvania State University
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2016
  • MS, Financial Engineering, Baruch College
  • BBA, Finance, Baruch College
  • Senior Trader, Portfolio Analyst for Fixed Income ETFs
  • Joined VanEck in 2017
  • Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
  • MBA, Finance, Montclair State University
  • BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont

Prices as of 09/30/22

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
GRNB $22.57
$22.49 		14,204
8,549 		$-0.02 / -0.07%
$-0.08 / -0.35% 		-14.13%
-14.63% 		$-0.08
-0.36% 		0.09%

Premium/Discount History as of 09/30/22

Calendar Year 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 236 51 32 17 23
GRNB Days closed at NAV 8 5 5 3 5
Days closed at a discount 8 8 25 42 36

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
03/03/17
GRNB (NAV) -1.95 -2.08 -10.75 -12.56 -2.18 -0.92 -- 0.84
GRNB (Share Price) -2.53 -2.58 -11.29 -12.95 -2.29 -1.12 -- 0.76
SPGRUSST (Index)** -1.85 -2.14 -10.85 -12.53 -1.96 -0.47 -- 1.33
Performance Differential (NAV - Index) -0.10 0.06 0.10 -0.03 -0.22 -0.45 -- -0.49
Bloomberg US Aggregate Bond Index -2.83 -2.01 -10.75 -11.52 -2.00 0.52 1.35 1.09
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
03/03/17
GRNB (NAV) -2.16 -5.11 -10.82 -11.90 -2.08 -0.20 -- 0.85
GRNB (Share Price) -2.37 -5.04 -11.10 -12.29 -2.14 -0.30 -- 0.83
SPGRUSST (Index)** -2.23 -5.07 -10.93 -11.84 -1.77 0.29 -- 1.36
Performance Differential (NAV - Index) 0.07 -0.04 0.11 -0.06 -0.31 -0.49 -- -0.51
Bloomberg US Aggregate Bond Index -1.57 -4.69 -10.35 -10.29 -0.93 0.88 1.54 1.21

*Returns less than one year are not annualized.
**Index data prior to September 1, 2019 reflects that of the S&P Green Bond Select Index (SPGRNSLT). From September 1, 2019 forward, the index data reflects that of the Fund's underlying index, the S&P Green Bond U.S. Dollar Select Index (SPGRUSST). Index history which includes periods prior to September 1, 2019 links the performance of SPGRNSLT and SPGRUSST and is not intended for third party use.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

The "Net Asset Value" (NAV) of a Fund is determined at the close of each business day, and represents the dollar 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 shares at NAV.

Top 10 Holdings (%) as of 08/31/22 Daily Holdings

Total Holdings: 325
Swipe
to view
full data
Holding Name
Coupon
 Maturity
Country‡
Currency
 % of Net
Assets
Kreditanstalt Fuer Wiederaufbau
1.750
 09/14/2029
Germany
USD
 1.10
Industrial & Commercial Bank Of China L
2.783
 09/16/2024
China
USD
 0.98
Ford Motor Co
3.250
 02/12/2032
United States
USD
 0.95
Apple Inc
3.000
 06/20/2027
United States
USD
 0.95
Kreditanstalt Fuer Wiederaufbau
0.750
 09/30/2030
Germany
USD
 0.95
European Investment Bank
2.875
 06/13/2025
Supra-National
USD
 0.90
Nederlandse Waterschapsbank Nv
2.375
 03/24/2026
Netherlands
USD
 0.88
International Finance Corp
2.125
 04/07/2026
Supra-National
USD
 0.87
Perusahaan Penerbit Sbsn Indonesia Iii
3.750
 03/01/2023
Indonesia
USD
 0.81
Chile Government International Bond
3.500
 01/25/2050
Chile
USD
 0.77
Top 10 Total (%) 9.16

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

‡See Country of Risk disclosure.

Country Weightings (%) as of 08/31/22

  • Country

    % of Net Assets
  • ■

    United States

    36.45
  • ■

    China

    12.14
  • ■

    Supra-National

    7.00
  • ■

    Netherlands

    5.01
  • ■

    South Korea

    4.79
  • ■

    Japan

    3.51
  • ■

    Germany

    2.93
  • ■

    Chile

    2.85
  • ■

    India

    2.81
  • ■

    United Kingdom

    2.77
  • ■

    Indonesia

    2.36
  • ■

    Brazil

    2.13
  • ■

    Canada

    1.88
  • ■

    Singapore

    1.41
  • ■

    Sweden

    1.39
  • ■

    Australia

    1.31
  • ■

    Luxembourg

    0.98
  • ■

    Spain

    0.92
  • ■

    France

    0.87
  • ■

    Mauritius

    0.70
  • ■

    United Arab Emirates

    0.69
  • ■

    Saudi Arabia

    0.61
  • ■

    Norway

    0.61
  • ■

    Virgin Islands

    0.58
  • ■

    Portugal

    0.41
  • ■

    Colombia

    0.35
  • ■

    Egypt

    0.27
  • ■

    Georgia

    0.26
  • ■

    Mexico

    0.24
  • ■

    Ireland

    0.24
  • ■

    Philippines

    0.24
  • ■

    Qatar

    0.23
  • ■

    Bermuda

    0.22
  • ■

    Turkey

    0.18
  • ■

    Pakistan

    0.12
  • ■

    Argentina

    0.12
  • ■

    Dominican Republic

    0.11
  • ■

    Other/Cash

    0.28

Currency Exposure (%)
as of 08/31/22

  • U.S. Dollar

    99.72

  • Other/Cash

    0.28

Sector Weightings (%) as of 08/31/22

  • Sector

    % of Net Assets
  • ■

    Financials

    40.4
  • ■

    Utilities

    19.7
  • ■

    Real Estate

    8.5
  • ■

    Government Activity

    6.6
  • ■

    Technology

    5.3
  • ■

    Basic Materials

    3.8
  • ■

    Industrials

    3.3
  • ■

    Consumer Cyclicals

    2.4
  • ■

    Energy

    1.4
  • ■

    Government

    0.8
  • ■

    Healthcare

    0.8
  • ■

    Consumer Non-Cyclicals

    0.5
  • ■

    Academic & Educational Services

    0.2
  • ■

    Other/Cash

    6.4

Credit Quality (%)† as of 08/31/22

Composite % of Net Assets
Investment Grade AAA 13.95
AA 7.00
A 27.14
BBB 30.76
Non-Investment Grade BB 10.01
B 2.09
CCC 0.12
Total Investment Grade -- 78.85
Total Non-Investment Grade -- 12.22
Not Rated -- 8.07

Maturity (%) as of 08/31/22

Average Portfolio Maturity: 7.27 Years