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CBON

VanEck
China Bond ETF

As of November 30, 2025

Fund Details

Fund Ticker CBON
Intraday NAV (IIV) CBONIV
Index Ticker CFIICNDS
Total Net Assets ($M) 18.13
Number of Holdings 30
Exchange NYSE Arca
Inception Date 11/10/14
Distribution Frequency Monthly

Yield

30-Day SEC Yield1 1.17%
*30-Day SEC Yield reflects the investment income earned after deducting a fund’s expenses for the period. This yield does not necessarily reflect the yield that an investor will receive. Distributions may vary from time to time.
*30-Day SEC Yield reflects the investment income earned after deducting a fund’s expenses for the period. This yield does not necessarily reflect the yield that an investor will receive. Distributions may vary from time to time.

Fees and Expenses

Management Fee 0.40%
Other Expenses 0.48%
Acquired Fund Fees and Expenses --
Gross Expense Ratio 0.88%
Fee Waivers and
Expense Reimbursement		 -0.38%
Net Expense Ratio 0.50%

*Expenses are capped contractually at 0.50% until May 1, 2026. Expense caps exclude acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses. Expense ratio as of the most recent prospectus. Please see the Fund’s prospectus for more detailed information on expenses.

About CBON

The VanEck China Bond ETF (CBON®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the FTSE Chinese Broad Bond 0 – 10 Diversified Select Index (CFIICNDS), which is comprised of fixed-rate, Renminbi ("RMB")-denominated bonds issued in the People's Republic of China by Chinese credit, governmental and quasi-governmental (e.g., policy banks) issuers.

Top 10 Holdings

Holding Name
Coupon
Maturity
 % of Net Assets
China Petrochemical Corp
2.000
 08/09/2029 7.86
Agricultural Development Bank Of China
2.960
 04/17/2030 6.68
China Government Bond
2.670
 11/25/2033 5.79
China Government Bond
1.620
 08/15/2027 5.64
Bank Of Communications Co Ltd
2.700
 09/26/2026 4.59
China Everbright Bank Co Ltd
2.720
 09/25/2026 4.59
State Grid Corp Of China
2.880
 08/30/2027 4.40
China Petroleum & Chemical Corp
3.200
 07/27/2026 4.17
China Government Bond
2.460
 02/15/2026 4.17
China Development Bank
3.450
 09/20/2029 4.00
Top 10 Total 51.90
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Performance History:

Average Annual Total Returns* (%)

Month End as of 11/30/25 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
11/10/14
CBON (NAV) 0.66 1.00 4.51 4.43 3.12 1.79 2.10 2.00
CBON (Share Price) 0.65 0.70 3.95 3.88 3.62 1.61 2.16 1.98
CFIICNDS (Index) 0.82 1.23 5.03 4.81 4.03 2.63 3.00 2.88
Performance Differential (NAV - Index) -0.16 -0.23 -0.52 -0.38 -0.91 -0.84 -0.90 -0.88
Quarter End as of 09/30/25 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
11/10/14
CBON (NAV) -0.11 0.29 3.36 0.48 2.89 2.30 2.03 1.93
CBON (Share Price) -0.44 0.43 2.77 -- 3.04 2.04 2.10 1.90
CFIICNDS (Index) -0.16 0.35 3.58 0.57 3.64 3.09 2.91 2.79
Performance Differential (NAV - Index) 0.05 -0.06 -0.22 -0.09 -0.75 -0.79 -0.88 -0.86

*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 Fund’s prospectus has not been submitted for approval to the Belgian Financial Services and Markets Authority (Autoriteit voor Financiële Diensten en Markten / Autorité des Services et Marchés Financiers) and, accordingly, the shares may not be distributed by way of public offering in Belgium and may only be offered to a maximum of 99 investors or to institutional and professional investors (as defined in Article 5, §3 of the Law of July 20, 2004, and as extended by the provisions of the Belgian Royal Decree of September 26, 2006 . These materials may be distributed in Belgium only to such prospective investors for their personal use and may not be used for any other purpose or passed on to any other person in Belgium. Shares will only be offered to such qualifying prospective investors.

In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck China Bond ETF would have been 0.79% on 11/30/25.

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.

CBON

VanEck
China Bond ETF

As of November 30, 2025

Fundamentals

Yield to Maturity 1.69M
Coupon 2.89M
Modified Duration (yrs) 3.13
Years to Maturity 3.36
*These figures represent weighted averages. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield, and is appropriate for bonds with embedded options. Years to Maturity is the period of time for which a financial instrument remains outstanding.

Top 10 Countries

Country % of Net Assets
China 99.15
Other/Cash 0.85
Top 10 Total 100.00

Sector Weightings (%)

Sector % of Net Assets
■ Financials 44.6
■ Government Activity 28.3
■ Utilities 14.3
■ Energy 12.0
■ Other/Cash 0.9

Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Certain indices may take into account withholding taxes. Investors can not invest directly in the Index. Index returns assume that dividends have been reinvested.

An investment in the Fund may be subject to risks which include, among others, RMB Bonds, Bond Connect and the CIBM Direct Access Program, Renminbi currency, Chinese Banking Industry, PRC tax, sovereign bond, financial sector, government-related bond, utilities sector, credit, interest rate, subordinated obligations, foreign securities, special risk considerations of investing in Chinese issuers, emerging market issuers, cash transactions, market, operational, sampling, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount, liquidity of fund shares, non-diversified and index-related concentration risks, all of which may adversely affect the Fund. Investments in mainland China may be subject to local customs, duties and rights of ownership, which might change at any time should policy makers deem them in China's best interest. As the Fund invests in securities denominated in Chinese Renminbi, changes in currency exchange rates may negatively impact the Fund's return. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks.

The Index is calculated by or on behalf of FTSE Fixed Income, LLC or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on, or any error in, the Index or (b) investment in or operation of the Fund. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Fund.

Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.  

This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.

Van Eck Securities Corporation, Distributor, a wholly-owned subsidiary of Van Eck Associates Corporation | 666 Third Avenue | New York, NY 10017

FUND TICKER: CBON 800.826.2333 VANECK.COM