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MIG
VanEck Moody’s Analytics IG Corporate Bond ETF

Fund Description

VanEck Moody’s Analytics® IG Corporate Bond ETF seeks to track, as closely as possible, before fees and expenses, the price and yield performance of the MVIS® Moody’s Analytics® US Investment Grade Corporate Bond Index, which includes investment grade corporate bonds that have attractive valuations and a lower probability of being downgraded to high yield compared to other investment grade bonds.

 
 

  • Fund Ticker

    MIG
  • Exchange

    Cboe
  • Inception Date

    12/01/2020
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Index Ticker

    MVCI
  • Index Rebalancing

    Monthly
  • 2022 Preliminary NAIC Designation7

    2.B

  as of 11/25/22

  • 30-Day SEC Yield1

    5.77%
  • Total Net Assets

    $12.4M
  • Number of Holdings

    213
  • Options

    No
  • Gross Expense Ratio2

    0.20%
  • Net Expense Ratio/TER2

    0.20%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    11/30/2022

Fund Highlights

  • Selects bonds with attractive risk-adjusted valuations, providing outperformance potential versus the broader market
  • Quantitative approach uses market-based information, including the issuer’s stock price, to develop a forward looking assessment of credit risk
  • Powered by Moody’s Analytics credit risk platform, which is relied upon by over 650 of the world’s largest institutional investors

Yield as of 11/25/22

  • 30-Day SEC Yield1

    --%
  • Distribution Yield1

    3.45%
  • 12-Month Yield1

    2.86%

Fees and Expenses2

  • Management Fee

    0.20%
  • Other Expenses

    --
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.20%
  • Fee Waivers and
    Expense Reimbursement

    --
  • Net Expense Ratio/TER2

    0.20%

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 September 1, 2023.

Trading Information

  • Fund Ticker

    MIG
  • Index Total Return Ticker

    MVCI
  • NAV

    MIGNV
  • Shares Outstanding

    600,000
  • Estimated Cash

    MIGEU
  • Total Cash

    MIGTC
  • CUSIP

    92189H862
  • ISIN

    US92189H8622
5See IIV Details. Source: Bloomberg

Fundamentals4 as of 11/25/22

  • Yield to Worst

    5.76%
  • Yield to Maturity

    5.76%
  • Effective Duration (yrs)

    6.03
  • Years to Maturity

    9.62
  • Modified Duration (yrs)

    6.16
  • Spread Duration (yrs)

    6.13
  • Coupon

    4.01%
 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
  • 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 11/25/22

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
MIG $20.59
$20.70
1,953
0
$0.03 / +0.16%
$0.03 / +0.14%
-14.68%
-14.38%
$0.11
0.53%
0.10%

Premium/Discount History as of 11/25/22

Calendar Year 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 Premium/Discount Charts NAV & Prem/Discount History
MIG Days closed at a premium 193 58 46 42 52
Days closed at NAV 28 2 6 5 4
Days closed at a discount 31 4 10 15 8

Performance History: Average Annual Total Returns* (%)

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
12/01/20
MIG (NAV) -0.86 -8.08 -18.55 -18.68 -- -- -- -9.63
MIG (Share Price) -0.74 -8.45 -18.60 -18.70 -- -- -- -9.57
MVCI(Index) -0.83 -8.30 -19.10 -19.19 -- -- -- -9.88
Performance Differential (NAV - Index) -0.03 0.22 0.55 0.51 -- -- -- 0.25
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
12/01/20
MIG (NAV) -4.86 -4.66 -17.84 -18.00 -- -- -- -9.63
MIG (Share Price) -4.72 -4.85 -17.99 -17.98 -- -- -- -9.63
MVCI(Index) -5.13 -4.87 -18.42 -18.44 -- -- -- -9.90
Performance Differential (NAV - Index) 0.27 0.21 0.58 0.44 -- -- -- 0.27

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

Daily Holdings
Total Holdings: 212
Holding Name
Coupon
Maturity
Country
Currency
% of Net
Assets
Barclays Plc
5.200
05/12/2026
United Kingdom
USD
1.59
Credit Suisse Group Ag
4.194
04/01/2031
Switzerland
USD
1.31
Societe Generale Sa
4.250
04/14/2025
France
USD
1.18
T-Mobile Usa Inc
3.750
04/15/2027
United States
USD
1.17
Verizon Communications Inc
4.016
12/03/2029
United States
USD
1.17
T-Mobile Usa Inc
3.875
04/15/2030
United States
USD
1.13
Verizon Communications Inc
4.125
03/16/2027
United States
USD
1.01
Berkshire Hathaway Inc
3.125
03/15/2026
United States
USD
1.01
Saudi Arabian Oil Co
3.500
04/16/2029
Saudi Arabia
USD
0.94
Barclays Plc
2.645
06/24/2031
United Kingdom
USD
0.94
Top 10 Total (%) 11.45
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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 10/31/22

Country % of Net Assets
United States 62.26
United Kingdom 8.68
Canada 7.64
France 6.93
Saudi Arabia 2.71
Italy 1.69
Switzerland 1.61
Netherlands 1.58
Japan 1.18
Denmark 1.10
Brazil 0.81
Germany 0.81
India 0.81
Taiwan Region 0.74
Mexico 0.36
China 0.25
Other/Cash 0.85

Currency Exposure (%) as of 10/31/22

U.S. Dollar 99.15
Other/Cash 0.85

Sector Weightings (%)
as of 10/31/22

Sector % of Net Assets
Financials 34.51
Technology 18.30
Consumer Non-Cyclicals 13.19
Consumer Cyclicals 10.10
Energy 7.98
Healthcare 7.06
Real Estate 3.00
Basic Materials 2.19
Industrials 2.02
Utilities 0.81
Other/Cash 0.85

Credit Quality (%) as of 10/31/22

Composite % of Net Assets
Investment Grade AAA 0.83
AA 9.39
A 20.09
BBB 58.48
Non-Investment Grade BB 11.20
Total Investment Grade -- 88.80
Total Non-Investment Grade -- 11.20

Maturity (%)
as of 10/31/22

Average Portfolio Maturity: 9.83 Years

Maturity (%)

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