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IHY
VanEck International High Yield Bond ETF

Fund Description

The VanEck International High Yield Bond ETF (IHY®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE BofA Global ex-US Issuers High Yield Constrained Index (HXUS), which is comprised of U.S. dollar, Canadian dollar, pound sterling, and euro denominated below investment grade corporate bonds issued by non-U.S. corporations in the major domestic or Eurobond markets.

 
 

  • Fund Ticker

    IHY

  • Exchange

    NYSE Arca

  • Inception Date

    04/02/2012

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Index Ticker

    HXUS

  • Index Rebalancing

    Monthly

  • 2022 Preliminary NAIC Designation7

    4.A

  as of 05/26/23

  • 30-Day SEC Yield1

    7.50%

  • Total Net Assets

    $51.0M

  • Number of Holdings

    644

  • Options

    No

  • Gross Expense Ratio2

    0.40%

  • Net Expense Ratio/TER2

    0.40%

  • Distribution Frequency

    Monthly

  • Next Distribution Date

    05/31/2023
1, 2, 7See Important Disclosure. 
Schedule a Call
How to Buy

Key Documents and Links

IHY Fact Sheet
Summary Prospectus
Management Team

Fund Highlights

  • Diversified non-U.S. high yield exposure
    International high yield bonds represent over 45% of the global high-yield market8

  • Higher credit quality
    Historically lower default rates than U.S. high-yield bonds9

  • Reduced interest rate risk
    Historically lower duration than U.S. high-yield bonds10

Yield as of 05/26/23

  • 30-Day SEC Yield1

    7.50%

  • Distribution Yield1

    5.24%

  • 12-Month Yield1

    5.07%

Fees and Expenses2

  • Management Fee

    0.40%

  • Other Expenses

    --

  • Acquired Fund Fees and Expenses

    --

  • Gross Expense Ratio

    0.40%

  • Fee Waivers and
    Expense Reimbursement

    --

  • Net Expense Ratio/TER2

    0.40%

2 Van 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

    IHY

  • Index Total Return Ticker

    HXUS

  • NAV

    IHYNV

  • Intraday NAV (IIV)5

    IHYIV

  • Shares Outstanding

    2,600,000

  • Estimated Cash

    IHYEU

  • Total Cash

    IHYTC

  • CUSIP

    92189F445

  • ISIN

    US92189F4458
5See IIV Details. Source: Bloomberg

Fundamentals4 as of 05/26/23

  • Yield to Worst

    8.52

  • Yield to Maturity

    8.58

  • Effective Duration (yrs)

    3.23

  • Years to Maturity

    10.68

  • Modified Duration (yrs)

    4.34

  • Coupon

    4.90
 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
  • Deputy Portfolio Manager for non-taxable Fixed Income ETFs
  • Oversees quantitative analysis and optimization processes for the fixed income ETFs
  • Joined VanEck in 2016
  • Prior to her current positions, served as quantitative analyst
  • CFA charter holder; member of CFA Society New York
  • 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 05/26/23

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
IHY $19.62
$19.68 		26,326
6,260 		$-0.02 / -0.08%
$0.03 / +0.15% 		+1.98%
+1.66% 		$0.06
0.32% 		0.25%

Premium/Discount History as of 05/26/23

Calendar Year 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 Premium/Discount Charts NAV & Prem/Discount History
IHY Days closed at a premium 92 6 24 48 53
Days closed at NAV 13 4 2 1 2
Days closed at a discount 146 52 38 14 7

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
04/02/12
IHY (NAV) 1.02 -0.32 4.05 0.78 1.26 0.20 1.96 3.13
IHY (Share Price) 0.77 -0.07 3.86 1.77 2.07 0.34 1.98 3.18
HXUS(Index) 1.13 -0.03 4.66 1.24 1.80 0.43 2.47 3.68
Performance Differential (NAV - Index) -0.11 -0.29 -0.61 -0.46 -0.54 -0.23 -0.51 -0.55
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/02/12
IHY (NAV) 0.97 3.00 3.00 -5.18 2.80 -0.10 2.12 3.06
IHY (Share Price) 1.45 3.07 3.07 -4.49 2.99 0.06 2.17 3.13
HXUS(Index) 1.00 3.49 3.49 -4.88 3.23 0.10 2.64 3.60
Performance Differential (NAV - Index) -0.03 -0.49 -0.49 -0.30 -0.43 -0.20 -0.52 -0.54

*Returns less than one year are not annualized.

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 04/30/23

Daily Holdings
Total Holdings: 737
Holding Name
Coupon
 Maturity
Country‡
Currency
 % of Net
Assets
Industrial & Commercial Bank Of China L
3.200
03/24/2072
China
USD
0.71
Teva Pharmaceutical Finance Netherlands
3.150
10/01/2026
Israel
USD
0.45
Zf North America Capital Inc
4.750
04/29/2025
Germany
USD
0.41
Virgin Media Vendor Financing Notes Iii
4.875
07/15/2028
Ireland
GBP
0.40
Petroleos Mexicanos
6.700
02/16/2032
Mexico
USD
0.39
China Citic Bank International Ltd
3.250
01/29/2072
China
USD
0.35
Lamar Funding Ltd
3.958
05/07/2025
Oman
USD
0.33
Bank Of East Asia Ltd/The
5.825
10/21/2169
China
USD
0.33
Edp - Energias De Portugal Sa
4.496
04/30/2079
Portugal
EUR
0.33
Electricite De France Sa
4.000
10/04/2168
France
EUR
0.33
Top 10 Total (%) 4.03
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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.

Country Weightings (%)
as of 04/30/23

Country % of Net Assets
● United Kingdom 12.28
● France 8.89
● Italy 7.96
● Canada 7.55
● Brazil 5.92
● Germany 5.73
● Luxembourg 5.40
● Mexico 4.32
● China 4.24
● Netherlands 4.15
● Spain 3.56
● United States 2.58
● Japan 2.46
● Colombia 2.28
● Turkey 1.85
● Israel 1.51
● Ireland 1.44
● India 1.38
● Sweden 1.13
● Greece 1.05
● Other/Cash 14.31

Currency Exposure (%) as of 04/30/23

U.S. Dollar 52.66
Euro 40.56
British Pound 4.47
Canadian Dollar 1.52
Other/Cash 0.79

Sector Weightings (%)
as of 04/30/23

Sector % of Net Assets
● Financials 30.35
● Technology 13.52
● Industrials 12.93
● Energy 10.50
● Consumer Cyclicals 8.46
● Basic Materials 7.63
● Utilities 6.62
● Healthcare 3.68
● Consumer Non-Cyclicals 3.49
● Real Estate 1.53
● Institutions; Associations & Orgs 0.41
● Other/Cash 0.89

Credit Quality (%)† as of 04/30/23

Composite % of Net Assets
Investment Grade BBB 2.04
Non-Investment Grade BB 60.00
B 30.56
CCC 5.65
CC 0.25
Total Investment Grade -- 2.04
Total Non-Investment Grade -- 96.46
Not Rated -- 1.51
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Maturity (%)
as of 04/30/23

Average Portfolio Maturity: 11.13 Years

Maturity (%)

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