CBONVanEck China Bond ETF
Fund Description
The VanEck China Bond ETF (CBON®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ChinaBond China High Quality Bond Index (CHQU01TR), 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.
-
Fund Ticker
CBON -
Exchange
NYSE Arca -
Inception Date
11/10/2014 -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Index Ticker
CHQU01TR -
Index Rebalancing
Monthly
as of 07/01/22
-
30-Day SEC Yield1
2.25% -
Total Net Assets
$116.8M -
Number of Holdings
102 -
Options
No -
Gross Expense Ratio2
0.68% -
Net Expense Ratio/TER2
0.50% -
Distribution Frequency
Monthly -
Next Distribution Date
07/29/2022
Key Points
- Yield Premium
Attractive yield pickup over developed markets bonds
- Portfolio Diversifier
RMB denominated bonds have historically exhibited low correlation to other asset classes*
- Access to the world’s second largest bond market
Broad exposure to bonds issued by the central government, policy banks and corporations
Yield
as of 07/01/22
-
30-Day SEC Yield1
2.25% -
Distribution Yield1
2.52% -
12-Month Yield1
3.51%
Fees and Expenses2
-
Management Fee
0.40% -
Other Expenses
0.28% -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.68% -
Fee Waivers and
-0.18%
Expense Reimbursement -
Net Expense Ratio/TER2
0.50%
2
Trading Information
-
Fund Ticker
CBON -
Index Total Return Ticker
CHQU01TR -
NAV
CBONNV -
Intraday NAV (IIV)5
CBONIV -
Shares Outstanding
5,000,000 -
Estimated Cash
CBONEU -
Total Cash
CBONTC -
CUSIP
92189F379 -
ISIN
US92189F3799
Fundamentals4 as of 07/01/22
-
Yield to Maturity
2.90% -
Coupon
3.58% -
Modified Duration (yrs)
4.40 -
Years to Maturity
4.99
Investment Professionals
Fran Rodilosso
- Head of Fixed Income ETF Portfolio Management
- Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
- Joined VanEck in 2012
- Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
- Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
- CFA charterholder; member of CFA Society New York
- MBA (with distinction), Finance, University of Pennsylvania
- AB, History, Princeton University
Daniel Cho
- Associate Portfolio Manager for Fixed Income ETFs
- Joined VanEck in 2013
- Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
- MS, Finance, University of Rochester
- BS, Information Sciences and Technology, Pennsylvania State University
Stephanie Wang
- Associate Portfolio Manager for Fixed Income ETFs
- Joined VanEck in 2016
- MS, Financial Engineering, Baruch College
- BBA, Finance, Baruch College
Jared Model
- Senior Trader, Portfolio Analyst for Fixed Income ETFs
- Joined VanEck in 2017
- Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
- MBA, Finance, Montclair State University
- BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 11/10/14 |
|
---|---|---|---|---|---|---|---|---|
CBON (NAV) | 0.03 | -4.56 | -3.46 | -0.92 | 5.14 | 4.30 | -- | 2.37 |
CBON (Share Price) | -0.04 | -5.29 | -4.09 | -1.86 | 4.91 | 4.46 | -- | 2.30 |
CHQU01TR(Index) | 0.04 | -4.40 | -3.19 | -0.01 | 5.81 | 5.29 | -- | 3.28 |
Performance Differential (NAV - Index) | -0.01 | -0.16 | -0.27 | -0.91 | -0.67 | -0.99 | -- | -0.91 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 11/10/14 |
|
---|---|---|---|---|---|---|---|---|
CBON (NAV) | -0.62 | 0.52 | 0.52 | 7.22 | 5.56 | 5.53 | -- | 2.99 |
CBON (Share Price) | -0.90 | 0.35 | 0.35 | 7.05 | 5.64 | 5.72 | -- | 2.99 |
CHQU01TR(Index) | -0.55 | 0.71 | 0.71 | 8.37 | 6.13 | 6.27 | -- | 3.91 |
Performance Differential (NAV - Index) | -0.07 | -0.19 | -0.19 | -1.15 | -0.57 | -0.74 | -- | -0.92 |
Top 10 Holdings (%) as of 05/31/22 Daily Holdings
to view
full data
Holding Name |
Coupon
|
Maturity |
Country‡
|
Currency
|
% of Net Assets |
---|---|---|---|---|---|
China Development Bank |
4.590 |
08/01/2038 |
China |
CNY |
3.02 |
China Development Bank |
3.870 |
08/01/2023 |
China |
CNY |
2.72 |
China Development Bank |
3.390 |
02/03/2027 |
China |
CNY |
2.71 |
China Cinda Asset Management Co Ltd |
4.750 |
04/14/2027 |
China |
CNY |
2.66 |
Chemchina Petrochemical Co Ltd |
4.000 |
11/06/2024 |
China |
CNY |
2.56 |
Guangdong Guangxin Holdings Group Ltd |
3.370 |
03/11/2025 |
China |
CNY |
2.54 |
Yankuang Energy Group Co Ltd |
3.430 |
03/12/2025 |
China |
CNY |
2.54 |
China Government Bond |
3.270 |
11/19/2030 |
China |
CNY |
2.37 |
China Government Bond |
3.270 |
08/22/2046 |
China |
CNY |
2.24 |
Shandong Hi-Speed Group Co Ltd |
4.000 |
10/21/2024 |
China |
CNY |
2.23 |
Top 10 Total (%) | 25.58 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%) as of 05/31/22
-
Country
% of Net Assets -
■
China
95.19 -
■
Other/Cash
4.81
Currency Exposure (%)
as of 05/31/22
-
Chinese Renminbi
95.19 -
Other/Cash
4.81
Sector Weightings (%) as of 05/31/22
-
Sector
% of Net Assets -
■
Financials
44.3 -
■
Government Activity
19.2 -
■
Basic Materials
9.8 -
■
Industrials
9.7 -
■
Utilities
4.7 -
■
Energy
3.7 -
■
Real Estate
3.2 -
■
Consumer Cyclicals
0.6 -
■
Other/Cash
4.8
Maturity (%) as of 05/31/22
Average Portfolio Maturity: 5.09 Years