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FLTR
VanEck Investment Grade Floating Rate ETF

Fund Description

VanEck Investment Grade Floating Rate ETF (FLTR®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Investment Grade Floating Rate Index (MVFLTR), which consists of U.S. dollar denominated floating rate notes issued by corporate issuers and rated investment grade.

 
 

  • Fund Ticker

    FLTR
  • Exchange

    NYSE Arca
  • Inception Date

    04/25/2011
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    MVFLTR
  • Index Rebalancing

    Monthly
  • 2022 Preliminary NAIC Designation8

    1.G

 
as of 05/27/22

  • 30-Day SEC Yield1

    1.27%
  • Total Net Assets

    $1.1B
  • Number of Holdings

    225
  • Options

    No
  • Gross Expense Ratio2

    0.14%
  • Net Expense Ratio/TER2

    0.14%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    05/31/2022
1,2,8 See Important Disclosure.
Why Invest?

Morningstar™ Ratings3
as of 04/30/2022

Category Overall 3 Year 5 Year
Ultrashort Bond
5 stars of 214 funds
4 stars of 214 funds
5 stars of 175 funds

Key Points

  • Potential to Benefit from Rising Rates7
    Floating rate notes have variable coupons that reset periodically
  • Investment Grade Credit Quality
    Underlying index is comprised of a non-leveraged portfolio of investment grade floating rate corporate bonds
  • Near-Zero Duration with Enhanced Yield Potential
    Floating rate notes may offer higher yields than other short duration instruments

Yield
as of 05/27/22

  • 30-Day SEC Yield1

    1.27%
  • Distribution Yield1

    0.85%
  • 12-Month Yield1

    0.60%
 1 See Important Disclosure for definitions.

Fees and Expenses2

  • Management Fee

    0.14%
  • Other Expenses

    --
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.14%
  • Fee Waivers and
    Expense Reimbursement

    --
  • Net Expense Ratio/TER2

    0.14%

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.

Trading Information

  • Fund Ticker

    FLTR
  • Index Total Return Ticker

    MVFLTR
  • NAV

    FLTRNV
  • Intraday NAV (IIV)5

    FLTRIV
  • Shares Outstanding

    44,600,000
  • Estimated Cash

    FLTREU
  • Total Cash

    FLTRTC
  • CUSIP

    92189F486
  • ISIN

    US92189F4862
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 05/27/22

  • Yield to Worst

    1.93%
  • Yield to Maturity

    1.97%
  • Effective Duration (yrs)

    -0.04
  • Years to Maturity

    3.01
  • Modified Duration (yrs)

    0.06
  • Coupon

    1.65%
  • Spread Duration (yrs)

    2.50
 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 05/27/22

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
FLTR $24.99
$25.04
611,131
435,456
$0.00 / 0.00%
$0.01 / +0.04%
-0.90%
-0.70%
$0.05
0.18%
0.04%

Premium/Discount History as of 05/27/22

Calendar Year 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 195 56 47 34 43
FLTR Days closed at NAV 40 5 13 21 13
Days closed at a discount 17 2 4 9 6

Performance History: Average Annual Total Returns* (%)

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) -0.08 -0.70 -0.65 -0.45 1.27 1.82 1.70 1.41
FLTR (Share Price) -0.06 -0.85 -0.65 -0.61 1.27 1.78 1.85 1.41
MVFLTR (Index) -0.06 -0.65 -0.56 -0.29 1.49 2.04 2.04 1.78
Performance Differential (NAV - Index) -0.02 -0.05 -0.09 -0.16 -0.22 -0.22 -0.34 -0.37
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) -0.47 -0.57 -0.57 -0.27 1.51 1.87 1.71 1.43
FLTR (Share Price) -0.51 -0.59 -0.59 -0.53 1.50 1.81 1.91 1.43
MVFLTR (Index) -0.46 -0.50 -0.50 -0.13 1.73 2.10 2.05 1.80
Performance Differential (NAV - Index) -0.01 -0.07 -0.07 -0.14 -0.22 -0.23 -0.34 -0.37

Top 10 Holdings (%) as of 04/30/22 Daily Holdings

Total Holdings: 223
Swipe
to view
full data
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
At&T Inc
1.983
06/12/2024
United States
USD
2.02
Verizon Communications Inc
1.606
05/15/2025
United States
USD
2.01
Goldman Sachs Group Inc/The
1.676
05/15/2026
United States
USD
1.93
Bank Of America Corp
1.085
02/05/2026
United States
USD
1.91
Commonwealth Bank Of Australia
0.700
07/07/2025
Australia
USD
1.84
Morgan Stanley
0.895
01/24/2025
United States
USD
1.62
Jpmorgan Chase & Co
2.074
07/23/2024
United States
USD
1.31
Goldman Sachs Group Inc/The
2.988
10/28/2027
United States
USD
1.30
Mizuho Financial Group Inc
1.128
05/25/2024
Japan
USD
1.29
Truist Financial Corp
0.450
06/09/2025
United States
USD
1.29
Top 10 Total (%) 16.50

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 04/30/22

  • Country

    % of Net Assets
  • United States

    63.64
  • Canada

    9.85
  • Australia

    7.90
  • United Kingdom

    7.68
  • Japan

    5.33
  • France

    2.16
  • Netherlands

    0.96
  • Switzerland

    0.90
  • Germany

    0.53
  • China

    0.36
  • Spain

    0.21
  • Ireland

    0.18
  • Norway

    0.13
  • Sweden

    0.12
  • Other/Cash

    0.07

Currency Exposure (%)
as of 04/30/22

  • U.S. Dollar

    99.93
  • Other/Cash

    0.07

Sector Weightings (%) as of 04/30/22

  • Sector

    % of Net Assets
  • Financials

    81.6
  • Technology

    6.4
  • Utilities

    3.7
  • Industrials

    3.0
  • Healthcare

    1.8
  • Consumer Non-Cyclicals

    1.5
  • Consumer Cyclicals

    0.9
  • Energy

    0.6
  • Real Estate

    0.4
  • Other/Cash

    0.1

Credit Quality (%) as of 04/30/22

Composite % of Net Assets
Investment Grade AA 10.36
A 53.86
BBB 35.79
Total Investment Grade -- 100.00
 

Maturity (%) as of 04/30/22

Average Portfolio Maturity: 3.05 Years