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WWHA

VanEck VIP Global Resources Fund

As of November 30, 2025

Fund Details

Net Assets $345.6M
Number of Holdings 73
Avg. Wtd. Market Cap $31.0B
Turnover Rate (2024) 57.4
P/E (LTM) / P/E (Forward) 19.0/15.8
P/B (LTM) 1.9
Benchmark Index S&P Global Natural Resources Net Total Return (SPGNRUN) Index
Inception Date 09/01/89
CUSIP 921082301
*Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

Top 10 Holdings

Holdings % of Net Assets
Shell Plc 4.4
Exxon Mobil Corp 4.0
Barrick Mining Corp 3.5
Agnico Eagle Mines Ltd 3.2
Newmont Corp 3.1
Kinross Gold Corp 3.1
Anglo American Plc 3.0
Jbs Nv 2.8
Nutrien Ltd 2.8
Totalenergies Se 2.7
These are not recommendations to buy or sell any security. Holdings may vary.

Fund Expense Ratios

Class Gross Net
I 1.06% 1.06%
S 1.30% 1.30%
Expenses are capped contractually until 05/01/26 at 1.20% for Class I, 1.45% for Class S. Caps excluding acquired fund fees and expenses, interest, trading, dividends, and interest payments of securities sold short, taxes, and extraordinary expenses.

Fund Description

VanEck VIP Global Resources Fund offers exposure to energy, precious metals, base metals, alternative energy and other commodities by investing in companies involved in the exploration, production and distribution of resources. The Fund provides potential diversification benefits through its low correlation to traditional asset classes. It is expertly managed by a thirteen-person team of investment professionals which is among the industry's largest and includes trained geologists, engineers, and senior analysts with deep sector experience.

Performance History: Average Annual Total Returns* (%) (In USD)

Month End as of November 30, 2025 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
Class I: NAV (Inception 09/01/89) 5.49 9.55 33.10 22.23 4.78 12.15 6.81 --
Class S: NAV (Inception 05/01/06) 5.44 9.48 32.80 21.91 4.52 11.86 6.54 --
S&P Global Natural Resources Net Total Return Index 3.95 5.18 24.61 15.81 4.40 11.39 9.44 --
S&P North American Natural Resources Sector Index 5.13 5.16 19.91 9.11 8.80 21.28 8.40 --
Quarter End as of September 30, 2025 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
Class I: NAV (Inception 09/01/89) 5.46 12.85 28.13 17.79 9.43 13.84 6.93 --
Class S: NAV (Inception 05/01/06) 5.44 12.76 27.91 17.50 9.16 13.56 6.66 --
S&P Global Natural Resources Net Total Return Index 1.93 9.36 20.76 6.39 10.03 13.56 9.71 --
S&P North American Natural Resources Sector Index 2.95 11.72 17.38 14.63 15.87 24.03 9.21 --

*Returns less than one year are not annualized.

Three-Year Risk Measures and Statistics

Volatility (Standard Deviation) 17.12
Sharpe Ratio -0.01
Alpha vs. SPGNRUN Index -1.31
Beta vs. SPGNRUN Index 1.03
R2 vs. SPGNRUN Index 85.67

Five-Year Risk Measures and Statistics

Volatility (Standard Deviation) 20.89
Sharpe Ratio 0.38
Alpha vs. SPGNRUN Index -0.65
Beta vs. SPGNRUN Index 1.07
R2 vs. SPGNRUN Index 83.30
Source: VanEck and FactSet. Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Performance may be lower or higher than performance data quoted.

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. Investors should not expect to buy or sell shares at NAV.

The Fund is only available through variable annuity and variable life insurance products.


 

WWHA

VanEck VIP Global Resources Fund

As of November 30, 2025

Sector Weightings

Sector % of Net Assets
Oil & Gas 30.7
Gold & Precious Metals 22.8
Base & Industrial Metals 18.1
Agriculture 11.6
Paper & Forest 6.7
Renewables & Alternatives 6.1
Industrials & Utilities 1.8
Other Materials 0.8
0.0
Cash 1.5

Market Capitalization Breakdown

Market Capitalization % of Net Assets
Large (>= $10 billion) 80.1
Mid (< $10 billion >= $2 billion) 16.7
Small (< $2 billion) 3.2
Average Weighted Market Cap $31.0B

Market capitalization (cap) is the value of a corporation as determined by the market price of its issued and outstanding common stock.

Country Weightings (%)

Country % of Net Assets
United States 43.6
Canada 24.8
South Africa 7.5
United Kingdom 5.5
France 3.9
Australia 2.9
Netherlands 2.8
Brazil 1.6
Zambia 1.4
China 1.3
Ireland 0.9
Luxembourg 0.9
Belgium 0.8
Liechtenstein 0.5
Cash 1.5

The S&P Global Natural Resources (SPGNRUN) Index (the “Index”) includes 90 of the largest publicly traded companies in natural resources and commodities businesses that meet specific investability requirements, offering investors diversified and investable equity exposure across 3 primary commodity-related sectors: agribusiness, energy, and metals & mining. The S&P North American Natural Resources Sector (SPGINRTR) Index (the “Index”) provides investors with a benchmark that represents U.S. traded securities that are classified under the GICS® energy and materials sector excluding the chemicals industry; and steel sub-industry.

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 cannot invest directly in the Index. Index returns assume that dividends have been reinvested.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks which may include, but are not limited to, risks associated with active management, commodities and commodity-linked derivatives, derivatives, direct investments, emerging market issuers, ESG investing strategy, foreign currency, foreign securities, global resources sector, market, operational, investing in other funds, small- and medium-capitalization companies, special purpose acquisition companies, and special risk considerations of investing in Canadian issuers, all of which may adversely affect the Fund. 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. Small- and medium-capitalization companies may be subject to elevated risks. Derivatives may involve certain costs and risks such as liquidity, interest rate, and the risk that a position could not be closed when most advantageous. Global resource investments may be impacted by various factors, such as financial economic, political, market event, government regulation, the prices of precious metals and natural resource, as well as other potential factors.

The Fund is only available as an option under various insurance contracts issued by life insurance and annuity companies. These contracts offer life and tax benefits to the beneficial owners of the Fund. The insurance or annuity company charges, fees and expenses for these benefits are not included in Fund performance. A review of the particular life and/or annuity contract will provide you with much greater detail regarding these costs and benefits.

The Fund is not available directly to the general public. For more complete information on variable life/annuity products, including all charges and expenses, please obtain a prospectus from a licensed insurance agent/registered representative. The prospectus includes information about the investment objective, risks and charges and expenses. Please read the prospectus carefully before investing.

FINANCIAL PROFESSIONALS ONLY. Not for use with the general public. This material is for financial professional use only and has not been reviewed by FINRA. If this material is distributed outside of your firm, you are responsible for ensuring that the distribution complies with applicable laws, rules and regulations.

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

The S&P North American Natural Resources Sector (SPGINRTR) Index (the “Index”) provides investors with a benchmark that represents U.S. traded securities that are classified under the GICS® energy and materials sector excluding the chemicals industry; and steel sub-industry. Indices are unmanaged and are not securities in which investments can be made.  

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks associated with concentrating its investments in Canadian issuers, commodities and commodity-linked derivatives, commodities and commodity-linked derivatives tax, derivatives, direct investments, emerging market securities, ESG investing, foreign currency transactions, foreign securities, global resources sector, other investment companies, management, market, operational, small- and medium-capitalization companies and special purpose acquisition companies. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, including the takeover of property without adequate compensation or imposition of prohibitive taxation. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, and asset-backed securities. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk, leverage risk, credit risk and counterparty risk. Please see the prospectus for information on these and other risk considerations.

The Fund is only available as an option under various insurance contracts issued by life insurance and annuity companies. These contracts offer life and tax benefits to the beneficial owners of the Fund. The insurance or annuity company charges, fees and expenses for these benefits are not included in Fund performance. A review of the particular life and/or annuity contract will provide you with much greater detail regarding these costs and benefits.

The Fund is not available directly to the general public. For more complete information on variable life/annuity products, including all charges and expenses, please obtain a prospectus from a licensed insurance agent/registered representative. The prospectus includes information about the investment objective, risks and charges and expenses. Please read the prospectus carefully before investing.  

FINANCIAL PROFESSIONALS ONLY. Not for use with the general public. This material is for financial professional use only and has not been reviewed by FINRA. If this material is distributed outside of your firm, you are responsible for ensuring that the distribution complies with applicable laws, rules and regulations.

Van Eck Securities Corporation, Distributor, 666 Third Avenue, New York, NY 100017

800.826.2333 VANECK.COM