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 -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company -
Index Ticker
MVBIZDTG -
Index Rebalancing
Quarterly
as of 09/24/21
-
30-Day SEC Yield1
7.99% -
Total Net Assets
$491.2M -
Number of Holdings
25 -
Options
Expected -
Gross Expense Ratio2
10.07% -
Net Expense Ratio/TER2
10.07% -
Distribution Frequency
Quarterly - 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 09/24/21
-
30-Day SEC Yield1
7.99% -
Distribution Yield1
7.40% -
12-Month Yield1
7.99%
1 See Important Disclosure for definitions.
Fees & Expenses2
-
Management Fee
0.40% -
Other Expenses
0.01% -
Acquired Fund Fees and Expenses
9.66% -
Gross Expense Ratio
10.07% -
Fee Waivers andExpense Reimbursement
-- -
Net Expense Ratio/TER2
10.07%
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
BIZD -
Index Total Return Ticker
MVBIZDTG -
NAV
BIZDNV -
Intraday NAV (IIV)4
BIZDIV -
Shares Outstanding
28,575,000 -
Estimated Cash
BIZDEU -
Total Cash
BIZDTC -
CUSIP
92189F411 -
ISIN
US92189F4110
4See IIV Details. Source: Bloomberg
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
Prices as of 09/24/21
-$0.03 / -0.19% 
$0.03 / +0.17%
Performance History: Average Annual Total Returns* (%)
| 1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 02/11/13 |
|
|---|---|---|---|---|---|---|---|---|
| BIZD (NAV) | 1.29 | 2.40 | 33.49 | 54.25 | 10.53 | 8.96 | -- | 7.20 |
| BIZD (Share Price) | 1.24 | 2.36 | 33.35 | 54.42 | 10.51 | 8.98 | -- | 7.21 |
| MVBIZDTG (Index) | 1.33 | 2.60 | 30.97 | 54.96 | 10.31 | 8.90 | 9.67 | 7.21 |
| Performance Differential (NAV - Index) | -0.04 | -0.20 | 2.52 | -0.71 | 0.22 | 0.06 | -- | -0.01 |
| 1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 02/11/13 |
|
|---|---|---|---|---|---|---|---|---|
| BIZD (NAV) | 0.44 | 8.49 | 30.93 | 58.18 | 12.05 | 10.77 | -- | 7.10 |
| BIZD (Share Price) | 0.41 | 8.30 | 30.81 | 57.38 | 12.09 | 10.82 | -- | 7.12 |
| MVBIZDTG (Index) | 0.55 | 8.78 | 28.36 | 58.61 | 11.81 | 10.67 | -- | 7.10 |
| Performance Differential (NAV - Index) | -0.11 | -0.29 | 2.57 | -0.43 | 0.24 | 0.10 | -- | 0.00 |
Top 10 Holdings (%) as of 08/31/21 Daily Holdings
Total Holdings: 25
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| Holding Name |
Ticker
|
Shares |
Market Value (US$) |
% of Net Assets |
|
|---|---|---|---|---|---|
| ARES CAPITAL CORP |
ARCC US
|
3,708,957
|
73,808,244 | 15.81 | |
| FS KKR CAPITAL CORP |
FSK US
|
2,330,470
|
53,810,552 | 11.52 | |
| OWL ROCK CAPITAL CORP |
ORCC US
|
2,699,630
|
39,414,598 | 8.44 | |
| MAIN STREET CAPITAL CORP |
MAIN US
|
574,509
|
23,893,829 | 5.12 | |
| HERCULES CAPITAL INC |
HTGC US
|
1,380,937
|
23,337,835 | 5.00 | |
| SIXTH STREET SPECIALTY LENDING INC |
TSLX US
|
953,377
|
21,736,996 | 4.66 | |
| GOLUB CAPITAL BDC INC |
GBDC US
|
1,354,201
|
21,274,498 | 4.56 | |
| PROSPECT CAPITAL CORP |
PSEC US
|
2,613,116
|
20,748,141 | 4.44 | |
| GOLDMAN SACHS BDC INC |
GSBD US
|
1,069,957
|
20,393,380 | 4.37 | |
| NEW MOUNTAIN FINANCE CORP |
NMFC US
|
1,419,843
|
18,983,301 | 4.07 | |
| Top 10 Total (%) | 67.99 | ||||
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Sector Weightings (%) as of 08/31/21
-
Sector
% of Net Assets -
■
Financial
100.2 -
■
Other/Cash
-0.2
Currency Exposure (%)
as of 08/31/21
-
U.S. Dollar
100.18 -
Other/Cash
-0.18
Country Weightings (%) as of 08/31/21
-
Country
% of Net Assets -
■
United States
100.18 -
■
Other/Cash
-0.18