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GHAIX
Global Resources Fund - Class I

Daily Price as of 03/27/23

NAV† DAILY CHANGE
$40.11 $0.58 / +1.47%

Class I Details: GHAIX

INCEPTION DATE GROSS/NET EXPENSES1
04/20/06 1.11%/0.95%
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Fund Summary and Key Points

The Global Resources Fund seeks long-term capital appreciation by investing primarily in global resource securities. Income is a secondary consideration.

  • Actively managed commodity-equities portfolio investing in companies involved in the exploration, production and distribution of resources
  • Offers exposure to energy, precious and base metals, agriculture, alternative energy and other resources
  • Expertly managed by an extensive investment team that is among the industry’s largest, and includes trained geologists and engineers as well as senior analysts with deep sector experience
  • Investment approach focuses on company research and skillful stock selection, as well as disciplined risk management
  • No K-1s – Access to resource equities without burdensome K-1 tax reporting

Fund Details
as of 02/28/23

  • Net Assets (All Classes)
    $949.1M
  • Number of Holdings
    71
  • Avg. Wtd. Market Cap
    $20.3B
  • Turnover Rate (2022)
    34.0%
  • P/E (LTM) / P/E (Forward)*
    7.9 / 9.3
  • P/B (LTM)*
    1.8
  • Benchmark Index
    S&P North American Natural Resources Sector (SPGINRTR) Index
*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.

Investment Style Box

image Investment style box diagram illustrating the investment strategy of the Global Hard Assets Fund

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

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(04/20/06)
VanEck Global Resources Fund: Class I
At Net Asset Value
 -7.35 -9.43 -1.89 -3.57 22.05 4.74 0.08 --
S&P North American Natural Resources Sector Index2
 -7.34 -6.78 -2.72 10.19 22.44 8.26 3.29 --
S&P Global Natural Resources Index2
 -5.48 -1.42 1.65 3.19 19.92 7.72 5.55 --
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(04/20/06)
VanEck Global Resources Fund: Class I
At Net Asset Value -7.68 9.15 8.19 8.19 15.40 4.09 0.43 --
S&P North American Natural Resources Sector Index2 -4.17 18.25 34.07 34.07 14.97 7.13 4.05 --
S&P Global Natural Resources Index2 -3.02 17.23 10.32 10.32 11.62 9.03 5.40 --

*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 I: Gross 1.11% and Net 0.95%. Expenses are capped contractually through 05/01/23 at 0.95% for Class I. 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.

Top 10 Holdings (%)

HOLDINGS
SECTOR
 % OF NET ASSETS
Valero Energy Corporation
Oil & Gas
4.2
Glencore plc
Base & Industrial Metals
3.9
SolarEdge Technologies, Inc.
Renewables & Alternatives
3.5
First Quantum Minerals Ltd.
Base & Industrial Metals
3.1
Vale S.A. 2.8
Bunge Limited
Agriculture
2.8
Hess Corporation
Oil & Gas
2.8
Corteva Inc
Agriculture
2.7
Diamondback Energy, Inc.
Oil & Gas
2.7
Freeport-McMoRan, Inc.
Base & Industrial Metals
2.6
Top 10 Total 31.1

View All Holdings

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

Sector Weightings (%)
as of 02/28/23

SECTOR % OF NET ASSETS
Oil & Gas 38.8
Base & Industrial Metals 18.4
Agriculture 13.3
Renewables & Alternatives 11.2
Gold & Precious Metals 11.0
Industrials & Utilities 3.7
Other 1.0
Cash 2.6

Country Weightings (%) as of 02/28/23

COUNTRY % OF NET ASSETS
■
United States
57.5
■
Canada
8.9
■
United Kingdom
4.3
■
Switzerland
3.9
■
South Africa
3.7
■
Brazil
3.4
■
Zambia
3.1
■
Italy
2.7
■
Spain
2.2
■
Netherlands
1.8
■
Norway
1.6
■
Cayman Islands
1.1
■
China
1.0
■
Australia
0.9
■
Finland
0.6
■
Turkey
0.6
■
Cash
2.6

30-Day SEC Yield*Class I as of 02/28/23

30-Day SEC Yield * 1.88%

*30-Day SEC Yield is a standard calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the Fund's expenses for the period. In the absence of temporary fee waivers, the 30-Day SEC Yield for GHAIX would have been 1.76% as of 02/28/23.