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CLOI
VanEck CLO ETF

Fund Description

The VanEck CLO ETF (CLOI) is an actively managed ETF, sub-advised by PineBridge Investments, seeking capital preservation and current income. It invests primarily in investment grade-rated tranches of collateralized loan obligations (“CLOs”) of any maturity.

 
 

  • Fund Ticker

    CLOI
  • Exchange

    NYSE Arca
  • Inception Date

    06/21/2022
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates

 
as of 07/01/22

  • 30-Day SEC Yield1

    --
  • Total Net Assets

    $25.0M
  • Number of Holdings

    18
  • Options

    No
  • Gross Expense Ratio2

    0.40%
  • Net Expense Ratio/TER2

    0.40%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    07/29/2022
 1,2,8 See Important Disclosure.

Key Points

  • Portfolio of investment grade floating rate CLOs with limited exposure to rising rates

  • Yield pickup versus similarly rated corporate bonds and loans with built-in protection against credit loss**

  • Actively managed by PineBridge, drawing on decades of CLO experience
**Source: J.P. Morgan and ICE Data Services.

Yield
as of 07/01/22

  • 30-Day SEC Yield1

    --
  • Distribution Yield1

    --
  • 12-Month Yield1

    --
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    0.00%
  • Gross Expense Ratio

    0.40%
  • Net Expense Ratio/TER2

    0.40%

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 May 1, 2024.

Trading Information

  • Fund Ticker

    CLOI
  • NAV

    CLOINV
  • Intraday NAV (IIV)5

    CLOIIV
  • Shares Outstanding

    500,000
  • Estimated Cash

    CLOIEU
  • Total Cash

    CLOITC
  • CUSIP

    92189H748
  • ISIN

    US92189H7483
5See IIV Details. Source: Bloomberg

Fundamentals4

  • Yield to Worst

    5.96
  • Yield to Maturity

    5.96
  • Spread Duration (yrs)

    5.37
  • Weighted Average Life

    6.55
  • Coupon

    2.83
  • Discount Margin

    263
 4See Important Disclosure for definitions.

Investment Professionals

  • 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
  • Joined PineBridge Investments in 2015
  • Responsible for managing the investments in Collateralized Loan Obligations (“CLOs”) issued by third-party managers
  • Prior to PineBridge Investments, Managing Director, Head of European Structured Products Trading at Raymond James Financial in London
  • Previously, Head of European ABS/CDO Syndicate & Trading at Cohen & Company Securities LLP and advised Commerzbank on US & European securitized product portfolios
  • CFA charterholder
  • MBA, The Wharton School of the University of Pennsylvania
  • MA, Joseph H. Lauder Institute, University of Pennsylvania
  • BA, Wellesley College

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
CLOI $50.02
$50.21
--
505
$-0.02 / -0.04%
$-0.01 / -0.02%
+0.04%
--
$0.19
0.38%
0.26%

Premium/Discount History as of 07/01/22

Since Inception 3Q 2021 4Q 2021 1Q 2022 2Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 7 0 0 0 6
CLOI Days closed at NAV 0 0 0 0 0
Days closed at a discount 1 0 0 0 1

Performance History: Average Annual Total Returns* (%)

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
06/21/22
CLOI (NAV) -- -- -- -- -- -- -- --
CLOI (Share Price) -- -- -- -- -- -- -- --
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
06/21/22
CLOI (NAV) -- -- -- -- -- -- -- --
CLOI (Share Price) -- -- -- -- -- -- -- --

Top 10 Holdings (%) as of 06/30/22 Daily Holdings

Total Holdings: 18
Swipe
to view
full data
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
Ares Lxi Clo Ltd
2.713
10/20/2034
United Kingdom
USD
10.53
Dryden 93 Clo Ltd
2.644
01/15/2034
United Kingdom
USD
6.69
Bain Capital Credit Clo 2021-4 Ltd
2.713
10/20/2034
United Kingdom
USD
6.65
Ocp Clo 2020-19 Ltd
2.763
10/20/2034
United Kingdom
USD
6.62
Cedar Funding Viii Clo Ltd
2.694
10/17/2034
United Kingdom
USD
6.62
Gulf Stream Meridian 1 Ltd
2.414
04/15/2033
United Kingdom
USD
4.91
Gulf Stream Meridian 4 Ltd
2.244
07/15/2034
United Kingdom
USD
4.90
Ocp Clo 2021-22 Ltd
2.243
12/02/2034
United Kingdom
USD
4.87
Goldentree Loan Opportunities Ix Ltd
2.539
10/29/2029
United Kingdom
USD
4.87
Elmwood Clo 15 Ltd
1.981
04/22/2035
United Kingdom
USD
4.86
Top 10 Total (%) 61.53

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

‡See Country of Risk disclosure. 

Credit Quality (%) as of 06/30/22

Composite % of Net Assets
Investment Grade AAA 29.31
AA 46.91
BBB 14.04
Total Investment Grade -- 90.25
Not Rated -- 9.75

Currency Exposure (%)
as of 06/30/22

  • U.S. Dollar

    99.63
  • Other/Cash

    0.37

Maturity (%) as of 06/22/22