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GBFAX
Emerging Markets Fund - Class A

Market Updates*

  • Going into 2021, we believe vaccination success on top of a benign cocktail of low rates, low inflation and ample liquidity may create a favorable atmosphere for emerging markets.
  • At a minimum, we believe style and emphasis change in China/U.S. relations will help headline risk for the asset class.
  • Acceleration of digital trends should maintain momentum, but performance may broaden out into a wider landscape of smaller companies and countries, creating potential compelling stock specific opportunities for the true all-cap VanEck Emerging Markets Equity Strategy.
  • As COVID-19 unfolded, significant market turbulence disproportionately affected small- and mid-cap stocks in emerging markets, as is often the case in times of heightened risk. As markets normalize, we believe it is reasonable to expect relative outperformance from these smaller stocks.

Learn More | The Electric Vehicle Revolution Charges Ahead

Market Updates*

  • Going into 2021, we believe vaccination success on top of a benign cocktail of low rates, low inflation and ample liquidity may create a favorable atmosphere for emerging markets.
  • At a minimum, we believe style and emphasis change in China/U.S. relations will help headline risk for the asset class.
  • Acceleration of digital trends should maintain momentum, but performance may broaden out into a wider landscape of smaller companies and countries, creating potential compelling stock specific opportunities for the true all-cap VanEck Emerging Markets Equity Strategy.
  • As COVID-19 unfolded, significant market turbulence disproportionately affected small- and mid-cap stocks in emerging markets, as is often the case in times of heightened risk. As markets normalize, we believe it is reasonable to expect relative outperformance from these smaller stocks.

Learn More | The Electric Vehicle Revolution Charges Ahead

Click here to read the EME White paper - The Electric Vehicle Revolution and ESG Charge Ahead
Click here to read the EME Whitepaper - The Electric Vehicle Revolution and ESG Charge Ahead

Daily Price as of 05/07/21

NAV† DAILY CHANGE
$21.58 $0.08 / +0.4%

Class A Details: GBFAX

INCEPTION DATE GROSS/NET EXPENSES1
1.47%/1.47%

Fund Summary and Key Points

The VanEck Emerging Markets Fund (the "Fund") seeks long-term capital appreciation by investing in equity securities in emerging markets around the world.

  • A global emerging markets equity portfolio focused on companies with growth potential at a reasonable price (“GARP”)
  • A bottom-up investment process driven by fundamental research into the sustainability of a company’s growth drivers
  • Growth is oriented toward strong secular stories, many of which reflect domestic demand themes and are often found in smaller-capitalization stocks

Fund Details
as of 03/31/21

  • Net Assets (All Classes)
    $2937.1M
  • Number of Holdings
    89
  • Avg. Wtd. Market Cap
    $27.2B
  • Turnover Rate (2020)
    29.7%
  • P/E (LTM) / P/E (Forward)*
    24.4 / 20.0
  • P/B (LTM)*
    3.9
  • Benchmark Index
    MSCI EM IMI
*Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

Top 10 Holdings (%)

Holdings Sector % of Net Assets
Tencent Holdings Ltd. Communication Services 6.4
Alibaba Group Holding Ltd. Consumer Discretionary 6.1
HDFC Bank Limited Financials 4.8
Taiwan Semiconductor Manufacturing Co., Ltd. Information Technology 3.7
Prosus N.V. Class N Consumer Discretionary 3.0
Samsung Electronics Co Ltd Pfd Non-Voting Information Technology 2.9
Samsung SDI Co., Ltd Information Technology 2.5
Meituan Class B Consumer Discretionary 2.0
Delivery Hero SE Consumer Discretionary 1.9
Naspers Limited Class N Consumer Discretionary 1.9
Top 10 Total 35.2
Holdings Sector % of Net Assets
Tencent Holdings Ltd. Communication Services 6.4
Alibaba Group Holding Ltd. Consumer Discretionary 6.1
HDFC Bank Limited Financials 4.8
Taiwan Semiconductor Manufacturing Co., Ltd. Information Technology 3.7
Prosus N.V. Class N Consumer Discretionary 3.0
Samsung Electronics Co Ltd Pfd Non-Voting Information Technology 2.9
Samsung SDI Co., Ltd Information Technology 2.5
Meituan Class B Consumer Discretionary 2.0
Delivery Hero SE Consumer Discretionary 1.9
Naspers Limited Class N Consumer Discretionary 1.9
Top 10 Total 35.2

View All Holdings

These are not recommendations to buy or sell any security. Holdings may vary.

Country Weightings (%) as of 03/31/21

Country % of Net Assets
■
China
36.9
■
India
11.0
■
Taiwan
9.3
■
South Korea
8.7
■
Brazil
5.0
■
Russia
3.7
■
South Africa
3.4
■
Philippines
2.7
■
Mexico
2.6
■
Turkey
2.1
■
Germany
2.0
■
Egypt
1.9
■
Other EM
8.8
■
Cash
1.9

Investment Style Box

image Investment style box diagram illustrating the investment strategy of the Emerging Markets Fund

This investment style box is based on the Fund's overall targeted capitalization range and relative valuation as determined by VanEck.

Sector Weightings (%)
as of 03/31/21

Sector % of Net Assets
Consumer Discretionary 28.7
Financials 21.2
Information Technology 15.7
Communication Services 14.2
Industrials 7.2
Health Care 4.8
Real Estate 2.0
Energy 2.0
Consumer Staples 1.3
Materials 1.0
Cash 1.9

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(12/20/93)
VanEck Emerging Markets Fund: Class A
At Net Asset Value -4.27 0.52 0.52 57.95 4.65 11.99 5.05 --
At Maximum 5.75% Sales Charge -9.78 -5.26 -5.26 48.87 2.60 10.67 4.43 --
MSCI EM IMI2 -1.19 2.86 2.86 61.09 6.33 11.75 3.61 --
MSCI EM Index2 -1.51 2.29 2.29 58.39 6.48 12.07 3.65 --
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(12/20/93)
VanEck Emerging Markets Fund: Class A
At Net Asset Value -4.27 0.52 0.52 57.95 4.65 11.99 5.05 --
At Maximum 5.75% Sales Charge -9.78 -5.26 -5.26 48.87 2.60 10.67 4.43 --
MSCI EM IMI2 -1.19 2.86 2.86 61.09 6.33 11.75 3.61 --
MSCI EM Index2 -1.51 2.29 2.29 58.39 6.48 12.07 3.65 --

*Returns less than one year are not annualized.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the Fund incurred all expenses and fees1, investment returns would have been reduced. Expenses: Class A: Gross 1.47% and Net 1.47%. Expenses are capped contractually through 05/01/22 at 1.60% for Class A. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

^The Fund's inception date was December 20, 1993, but prior to December 18, 2002, it operated with a substantially different investment strategy. Specifically, it invested primarily in the common stocks and other equity securities of global large-cap growth companies and could invest no more than 10% of its assets in emerging markets securities.