BIZDVanEck 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 07/01/22
-
30-Day SEC Yield1
9.67% -
Total Net Assets
$554.3M -
Number of Holdings
25 -
Options
Available -
Gross Expense Ratio2
10.07% -
Net Expense Ratio/TER2
10.07% -
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 07/01/22
-
30-Day SEC Yield1
9.67% -
Distribution Yield1
10.74% -
12-Month Yield1
11.78%
Fees and Expenses2
-
Management Fee
0.40% -
Other Expenses
0.01% -
Acquired Fund Fees and Expenses
9.83% -
Gross Expense Ratio
10.07% -
Fee Waivers and
--
Expense Reimbursement -
Net Expense Ratio/TER2
10.07%
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, 2022.'
Trading Information
-
Fund Ticker
BIZD -
Index Total Return Ticker
MVBIZDTG -
NAV
BIZDNV -
Intraday NAV (IIV)4
BIZDIV -
Shares Outstanding
36,600,000 -
Estimated Cash
BIZDEU -
Total Cash
BIZDTC -
CUSIP
92189F411 -
ISIN
US92189F4110
Investment Professionals
Peter Liao, CFA
- 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
Guo Hua (Jason) Jin
- Portfolio Manager and Analyst for Equity ETFs
- Joined VanEck in 2007
- Prior to his current role, held a portfolio administration position at VanEck
- Previously, Portfolio Analyst at Evaluation Associates
- BS, Business Administration (concentration in Financial Analysis), State University of New York at Buffalo
Griffin Driscoll
- Analyst for Equity ETFs
- Joined VanEck in 2018
- Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
- BS, Finance, Providence College
Ralph Lasta
- Analyst for Equity ETFs
- Joined VanEck in 2019
- Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
- BS, Accounting, Hunter College
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) | -3.42 | -6.04 | -4.27 | 2.68 | 10.70 | 7.78 | -- | 6.63 |
BIZD (Share Price) | -3.40 | -6.02 | -4.00 | 2.63 | 10.74 | 7.81 | -- | 6.64 |
MVBIZDTG(Index) | -3.41 | -5.91 | -4.07 | 3.25 | 10.58 | 7.82 | 8.77 | 6.68 |
Performance Differential (NAV - Index) | -0.01 | -0.13 | -0.20 | -0.57 | 0.12 | -0.04 | -- | -0.05 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 02/11/13 |
|
---|---|---|---|---|---|---|---|---|
BIZD (NAV) | 1.77 | 3.69 | 3.69 | 20.13 | 13.91 | 8.47 | -- | 7.69 |
BIZD (Share Price) | 1.88 | 4.07 | 4.07 | 19.99 | 13.89 | 8.47 | -- | 7.71 |
MVBIZDTG (Index) | 1.86 | 3.85 | 3.85 | 20.92 | 13.76 | 8.51 | 9.47 | 7.74 |
Performance Differential (NAV - Index) | -0.09 | -0.16 | -0.16 | -0.79 | 0.15 | -0.04 | -- | -0.05 |
Top 10 Holdings (%) as of 05/31/22 Daily Holdings
to view
full data
Holding Name |
Ticker
|
Shares
|
Market Value (US$) |
% of Net Assets |
---|---|---|---|---|
Ares Capital Corp |
ARCC US |
4,257,727 |
82,514,749 | 13.77 |
Fs Kkr Capital Corp |
FSK US |
2,527,473 |
54,643,966 | 9.12 |
Owl Rock Capital Corp |
ORCC US |
2,911,808 |
39,484,116 | 6.59 |
Prospect Capital Corp |
PSEC US |
3,891,382 |
29,924,728 | 4.99 |
Golub Capital Bdc Inc |
GBDC US |
2,087,618 |
29,518,919 | 4.93 |
Main Street Capital Corp |
MAIN US |
769,901 |
29,356,325 | 4.90 |
New Mountain Finance Corp |
NMFC US |
2,068,113 |
26,740,701 | 4.46 |
Goldman Sachs Bdc Inc |
GSBD US |
1,473,383 |
26,653,498 | 4.45 |
Oaktree Specialty Lending Corp |
OCSL US |
3,833,986 |
26,607,863 | 4.44 |
Hercules Capital Inc |
HTGC US |
1,852,930 |
26,089,254 | 4.35 |
Top 10 Total (%) | 62.01 |
Sector Weightings (%) as of 05/31/22
-
Sector
% of Net Assets -
■
Financial
100.2 -
■
Other/Cash
-0.2
Currency Exposure (%)
as of 05/31/22
-
U.S. Dollar
100.21 -
Other/Cash
-0.21
Country Weightings (%) as of 05/31/22
-
Country
% of Net Assets -
■
United States
100.21 -
■
Other/Cash
-0.21