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FLTR
VanEck Investment Grade Floating Rate ETF

Fund Description

VanEck Investment Grade Floating Rate ETF (FLTR®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Investment Grade Floating Rate Index (MVFLTR), which consists of U.S. dollar denominated floating rate notes issued by corporate issuers and rated investment grade.

 
 

  • Fund Ticker

    FLTR
  • Exchange

    NYSE Arca
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    MVFLTR
  • Index Rebalancing

    Monthly
  • 2021 Preliminary NAIC
    Designation8

    1.G

 
as of 09/21/21

  • 30-Day SEC Yield1

    0.23%
  • Total Net Assets

    $705.1M
  • Number of Holdings

    226
  • Options

    Expected
  • Gross Expense Ratio2

    0.14%
  • Net Expense Ratio/TER2

    0.14%
  • Distribution Frequency

    Monthly
1,2,8 See Important Disclosure
Why Invest?

Morningstar™ Ratings3
as of 08/31/2021

Category Overall 3 Year 5 Year
Ultrashort Bond
5 stars of 213 funds
4 stars of 213 funds
5 stars of 166 funds

Key Points

  • Potential to Benefit from Rising Rates7
    Floating rate notes have variable coupons that reset periodically
  • Investment Grade Credit Quality
    Underlying index is comprised of a non-leveraged portfolio of investment grade floating rate corporate bonds
  • Near-Zero Duration with Enhanced Yield Potential
    Floating rate notes may offer higher yields than other short duration instruments

Yield
as of 09/21/21

  • 30-Day SEC Yield1

    0.23%
  • Distribution Yield1

    0.55%
  • 12-Month Yield1

    0.74%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.14%
  • Other Expenses

    --
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.14%
  • Fee Waivers and
    Expense Reimbursement

    --
  • Net Expense Ratio/TER2

    0.14%
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.

Trading Information

  • Fund Ticker

    FLTR
  • Index Total Return Ticker

    MVFLTR
  • NAV

    FLTRNV
  • Intraday NAV (IIV)5

    FLTRIV
  • Shares Outstanding

    27,800,000
  • Estimated Cash

    FLTREU
  • Total Cash

    FLTRTC
  • CUSIP

    92189F486
  • ISIN

    US92189F4862
5See IIV Details. Source: Bloomberg

Fundamentals4
as of 09/20/21

  • Yield to Worst

    0.34%
  • Yield to Maturity

    0.48%
  • Effective Duration (yrs)

    0.06
  • Years to Maturity

    2.83
  • Modified Duration (yrs)

    0.09
  • Spread Duration (yrs)

    2.09
  • Coupon

    0.89%
 4 See Important Disclosure for definitions.

Investment Professionals

  • Portfolio Manager and Head of Fixed Income ETFs
  • 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
  • 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
  • Associate Portfolio Manager for Fixed Income ETFs
  • Joined VanEck in 2016
  • MS, Financial Engineering, Baruch College
  • BBA, Finance, Baruch College
  • 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 09/21/21

NAV/
Market Price
Volume
30-Day Avg./
Last Trading Day
Daily Change
NAV/
Last Price
YTD Change
NAV/
Last Price
Premium/
Discount
Prem/Discount
Distribution Charts
NAV &
Prem/Discount
History
30-Day
Median
Bid Ask
Spread
NAV
Chart
FLTR $25.36
$25.35
197,555
113,774
$0.00 / +0.01%
$0.00 / +0.00%
+0.83%
+0.76%
$-0.01
-0.05%
0.04%

Premium/Discount History as of 09/21/21

Calendar Year 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 105 26 25 58 56
FLTR Days closed at NAV 46 15 18 1 5
Days closed at a discount 102 23 21 2 2


Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 0.04 0.18 0.79 1.33 2.16 2.32 1.88 1.58
FLTR (Share Price) 0.05 0.11 0.79 1.18 2.13 2.34 1.95 1.58
MVFLTR (Index) 0.05 0.22 0.83 1.50 2.38 2.59 2.27 1.96
Performance Differential (NAV - Index) -0.01 -0.04 -0.04 -0.17 -0.22 -0.27 -0.39 -0.38
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/25/11
FLTR (NAV) 0.10 0.36 0.72 2.22 2.36 2.45 1.70 1.60
FLTR (Share Price) 0.06 0.18 0.74 2.30 2.36 2.47 1.66 1.61
MVFLTR (Index) 0.12 0.38 0.72 2.41 2.59 2.75 2.06 1.98
Performance Differential (NAV - Index) -0.02 -0.02 0.00 -0.19 -0.23 -0.30 -0.36 -0.38

Top 10 Holdings (%) as of 08/31/21 Daily Holdings

Total Holdings: 234
Swipe
to view
full data
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
MORGAN STANLEY
1.525
10/24/2023
United States
USD
2.04
WELLS FARGO & CO
1.359
10/31/2023
United States
USD
1.85
JPMORGAN CHASE & CO
1.355
10/24/2023
United States
USD
1.85
HSBC HOLDINGS PLC
1.125
05/18/2024
United Kingdom
USD
1.85
GOLDMAN SACHS GROUP INC/THE
1.721
11/28/2023
United States
USD
1.81
VERIZON COMMUNICATIONS INC
1.225
05/15/2025
United States
USD
1.68
MORGAN STANLEY
1.345
05/08/2024
United States
USD
1.63
AT&T INC
1.299
06/12/2024
United States
USD
1.55
BARCLAYS PLC
1.505
05/16/2024
United Kingdom
USD
1.42
GOLDMAN SACHS GROUP INC/THE
1.295
05/15/2026
United States
USD
1.40
Top 10 Total (%) 17.08

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

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 08/31/21

  • Country

    % of Net Assets
  • United States

    63.11
  • Canada

    9.43
  • United Kingdom

    8.00
  • Japan

    6.05
  • Australia

    3.55
  • Netherlands

    2.52
  • Switzerland

    2.49
  • Germany

    1.95
  • China

    0.86
  • France

    0.71
  • Spain

    0.45
  • Sweden

    0.22
  • Norway

    0.14
  • Singapore

    0.11
  • Other/Cash

    0.42

Currency Exposure (%)
as of 08/31/21

  • U.S. Dollar

    99.58
  • Other/Cash

    0.42

Sector Weightings (%) as of 08/31/21

  • Sector

    % of Net Assets
  • Financials

    76.3
  • Technology

    7.2
  • Utilities

    4.6
  • Consumer Cyclicals

    2.7
  • Consumer Non-Cyclicals

    2.6
  • Healthcare

    1.9
  • Industrials

    1.8
  • Energy

    1.8
  • Real Estate

    0.6
  • Other/Cash

    0.4

Credit Quality (%) as of 08/31/21

Composite % of Net Assets
Investment Grade AAA 0.17
AA 8.95
A 67.28
BBB 23.61
Total Investment Grade -- 100.00
Source: Bloomberg.  Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 08/31/21

 Average Portfolio Maturity: 2.52 Years