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BIZD
VanEck BDC Income ETF

Fund Description

The VanEck BDC Income ETF (BIZDTM) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS®US Business Development Companies Index (MVBIZDTG), which tracks the overall performance of publicly traded business development companies.

 
 

  • Fund Ticker

    BIZD
  • Exchange

    NYSE Arca
  • Inception Date

    02/11/2013
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Index Ticker

    MVBIZDTG
  • Index Rebalancing

    Quarterly

 
as of 09/26/22

  • 30-Day SEC Yield1

    10.55%
  • Total Net Assets

    $468.7M
  • Number of Holdings

    25
  • Options

    Available
  • Gross Expense Ratio2

    10.92%
  • Net Expense Ratio/TER2

    10.92%
  • Distribution Frequency

    Quarterly
  • Next Distribution Date

    09/30/2022
  • Expenses Explained

Key Points

  • High Income Potential6
    Business Development Companies (BDCs) have proven an attractive alternative income source historically
     
  • Exposure to Private Credit
    Target privately-held U.S. companies and thinly traded U.S. public companies which are generally difficult to access
     
  • Lending to Middle-Market Companies
    BDCs generate income by lending to, and investing in, private companies that tend to be below investment grade or not rated

Yield
as of 09/26/22

  • 30-Day SEC Yield1

    10.55%
  • Distribution Yield1

    11.78%
  • 12-Month Yield1

    10.61%
 1 See Important Disclosure for definitions.

Fees and Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    0.01%
  • Acquired Fund Fees and Expenses

    10.51%
  • Gross Expense Ratio

    10.92%
  • Fee Waivers and
    Expense Reimbursement

    --
  • Net Expense Ratio/TER2

    10.92%

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

    BIZD
  • Index Total Return Ticker

    MVBIZDTG
  • NAV

    BIZDNV
  • Intraday NAV (IIV)4

    BIZDIV
  • Shares Outstanding

    33,925,000
  • Estimated Cash

    BIZDEU
  • Total Cash

    BIZDTC
  • CUSIP

    92189F411
  • ISIN

    US92189F4110
4See IIV Details. Source: Bloomberg

Investment Professionals

  • Portfolio Manager and Head of Equity ETFs
  • Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
  • Joined VanEck in 2005
  • CFA charterholder; member of the CFA Society New York
  • BA, Mathematics and Economics, New York University
  • Analyst for Equity ETFs
  • Joined VanEck in 2018
  • Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
  • BS, Finance, Providence College
  • Analyst for Equity ETFs
  • Joined VanEck in 2019
  • Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
  • BS, Accounting, Hunter College

Prices as of 09/26/22

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
BIZD $13.81
$13.82
203,903
392,142
$-0.57 / -3.96%
$-0.55 / -3.83%
-16.12%
-15.94%
$0.01
0.04%
0.06%

Premium/Discount History as of 09/26/22

Calendar Year 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 183 47 46 41 29
BIZD Days closed at NAV 24 3 5 3 13
Days closed at a discount 45 14 13 18 20

Performance History: Average Annual Total Returns* (%)

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
02/11/13
BIZD (NAV) -0.15 0.77 -3.53 1.05 9.15 8.63 -- 6.54
BIZD (Share Price) -0.19 0.75 -3.28 1.01 9.14 8.58 -- 6.54
MVBIZDTG(Index) -0.15 0.86 -3.24 1.50 9.03 8.66 7.46 6.59
Performance Differential (NAV - Index) 0.00 -0.09 -0.29 -0.45 0.12 -0.03 -- -0.05
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
02/11/13
BIZD (NAV) -6.65 -13.82 -10.64 -4.57 6.87 5.93 -- 5.79
BIZD (Share Price) -6.79 -14.02 -10.52 -4.73 6.84 5.88 -- 5.79
MVBIZDTG (Index) -6.69 -13.81 -10.49 -4.19 6.72 5.96 7.26 5.83
Performance Differential (NAV - Index) 0.04 -0.01 -0.15 -0.38 0.15 -0.03 -- -0.04

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

Total Holdings: 25
Swipe
to view
full data
Holding Name
Ticker
Shares
Market Value
(US$)
% of Net
Assets
Ares Capital Corp
ARCC US
5,688,055
111,713,400 20.20
Fs Kkr Capital Corp
FSK US
3,594,040
77,559,383 14.03
Owl Rock Capital Corp
ORCC US
4,563,631
59,966,111 10.85
Main Street Capital Corp
MAIN US
663,129
27,679,004 5.01
Golub Capital Bdc Inc
GBDC US
1,830,965
25,468,723 4.61
Prospect Capital Corp
PSEC US
3,253,205
24,333,973 4.40
Blackstone Secured Lending Fund
BXSL US
1,007,278
23,882,561 4.32
Hercules Capital Inc
HTGC US
1,690,468
23,784,885 4.30
Goldman Sachs Bdc Inc
GSBD US
1,307,753
22,257,956 4.03
Sixth Street Specialty Lending Inc
TSLX US
989,264
18,627,841 3.37
Top 10 Total (%) 75.11
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

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

  • Sector

    % of Net Assets
  • Financial

    95.7
  • Other/Cash

    4.3

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

  • U.S. Dollar

    99.99
  • Other/Cash

    0.01

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

  • Country

    % of Net Assets
  • United States

    99.99
  • Other/Cash

    0.01