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CBON
VanEck 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

Schedule a Call

Morningstar™ Ratings³
as of 05/31/2022

Category	Overall	3 Year	5 Year
Emerging-Markets Local-Currency Bond	5 stars of 74 funds	5 stars of 74 funds	5 stars of 70 funds

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

^*Source: FactSet and ICE Data Indices, LLC.

Yield
as of 07/01/22

30-Day SEC Yield¹
2.25%
Distribution Yield¹
2.52%
12-Month Yield¹
3.51%

¹See Important Disclosure for definitions.

Fees and Expenses²

Management Fee
0.40%
Other Expenses
0.28%
Acquired Fund Fees and Expenses
--
Gross Expense Ratio
0.68%
Fee Waivers and
Expense Reimbursement
-0.18%
Net Expense Ratio/TER²
0.50%

²Expenses are capped contractually at 0.50% until September 1, 2022. Expense caps exclude acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses. Expense ratio as of the most recent prospectus. Please see the Fund’s prospectus for more detailed information on expenses.

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

⁵See IIV Details. Source: Bloomberg

Fundamentals⁴
as of 07/01/22

Yield to Maturity
2.90%
Coupon
3.58%
Modified Duration (yrs)
4.40
Years to Maturity
4.99

⁴See Important Disclosure for definitions.

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

Prices as of 07/01/22

	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
CBON	$23.36 $23.28	38,833 51,567	$-0.07 / -0.29% $-0.12 / -0.51%	-4.11% -4.49%	$-0.08 -0.35%			0.17%

Premium/Discount History as of 07/01/22

		Calendar Year 2021	3Q 2021	4Q 2021	1Q 2022	2Q 2022
	Days closed at a premium	124	24	22	45	10
CBON	Days closed at NAV	19	4	11	2	2
	Days closed at a discount	109	36	31	15	50

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

Monthly Return

Month End as of 05/31/22
Quarter End as of 03/31/22

	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

*Returns less than one year are not annualized.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

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. The NAV is not necessarily the same as the ETF 's intraday trading value. Investors should not expect to buy or sell shares at NAV.

Top 10 Holdings (%) as of 05/31/22 Daily Holdings

Total Holdings: 102

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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.

‡See Country of Risk disclosure.

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