us en false false Default

VanEck Emerging Markets Fund

As of November 30, 2025

Fund Expense Ratios

Class Gross Net
A 1.59% 1.59%
C 2.58% 2.52%
I 1.25% 1.02%
Y 1.23% 1.12%
Z 1.17% 0.92%
*Expenses are capped contractually until 05/01/26 at 1.10%for Class Y. Caps excluding acquired fund fees and expenses, interest, trading, dividends, and interest payments of securities sold short, taxes, and extraordinary expenses.

Fund Description

The VanEck Emerging Markets Fund (the "Fund") seeks long-term capital appreciation by investing in equity securities in emerging markets around the world. The Fund's benchmark is the Morgan Stanley Capital International Emerging Markets Investable Market Index (MSCI EM IMI). The Fund focuses on companies with potential for growth at a reasonable price (GARP). This strategy utilizes a bottom-up investment process driven by fundamental research into the sustainability of a company's growth drivers. Stock selection is oriented toward strong secular stories, many of which reflect domestic demand themes and are often found in smaller-capitalization stocks.

Performance History:

Average Annual Total Returns* (%) (In USD)

Month End as of November 30, 2025 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
Class A: NAV (Inception 12/20/93)
 -2.31 7.98 27.89 23.82 11.44 -0.59 4.33 --
Class A: Maximum 5.75% load
 -7.93 1.77 20.54 16.70 9.27 -1.76 3.71 --
Class I: NAV (Inception 12/31/07)
 -2.26 8.10 28.61 24.53 12.12 -0.04 4.87 --
Class Y: NAV (Inception 04/30/10)
 -2.31 8.04 28.47 24.33 11.99 -0.16 4.76 --
Class Z: NAV (Inception 09/16/19)
 -2.30 8.13 28.65 24.65 12.22 0.05 -- 3.00
MSCI Emerging Markets Investable Markets Index (IMI)
 -2.27 8.07 27.92 27.57 14.70 5.60 7.88 --
MSCI Emerging Markets IMI Growth Index
 -3.26 7.29 29.00 29.42 14.60 3.15 8.11 --
Quarter End as of September 30, 2025 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
Class A: NAV (Inception 12/20/93)
 5.74 7.95 25.25 12.60 16.78 1.05 4.70 --
Class A: Maximum 5.75% load
 -0.34 1.74 18.04 6.13 14.49 -0.14 4.08 --
Class I: NAV (Inception 12/31/07)
 5.77 8.16 25.85 13.29 17.49 1.61 5.25 --
Class Y: NAV (Inception 04/30/10)
 5.74 8.09 25.72 13.20 17.36 1.50 5.14 --
Class Z: NAV (Inception 09/16/19)
 5.75 8.13 25.83 13.38 17.56 1.70 -- 2.71
MSCI Emerging Markets Investable Markets Index (IMI)
 6.41 9.88 25.95 16.01 18.15 7.63 8.03 --
MSCI Emerging Markets IMI Growth Index
 6.62 11.48 28.19 19.42 18.34 5.03 8.51 --

*Returns less than one year are not annualized. Please note that 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.

Performance History:

Average Annual Total Returns* (%) (In USD)

Month End as of November 30, 2025 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
Class Y: NAV (Inception 04/30/10)
 -2.31 8.04 28.47 24.33 11.99 -0.16 4.76 --
MSCI Emerging Markets Investable Markets Index (IMI)
 -2.27 8.07 27.92 27.57 14.70 5.60 7.88 --
MSCI Emerging Markets IMI Growth Index
 -3.26 7.29 29.00 29.42 14.60 3.15 8.11 --
Quarter End as of September 30, 2025 1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
Class Y: NAV (Inception 04/30/10)
 5.74 8.09 25.72 13.20 17.36 1.50 5.14 --
MSCI Emerging Markets Investable Markets Index (IMI)
 6.41 9.88 25.95 16.01 18.15 7.63 8.03 --
MSCI Emerging Markets IMI Growth Index
 6.62 11.48 28.19 19.42 18.34 5.03 8.51 --

*Returns less than one year are not annualized.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Performance may be lower or higher than performance data quoted.

The "Net Asset Value" (NAV) of a Fund is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. Investors should not expect to buy or sell shares at NAV.

Top 10 Holdings

Holdings % of Net Assets
Taiwan Semiconductor Manufacturing Co L 10.3
Sk Hynix Inc 5.2
Tencent Holdings Ltd 4.2
Reliance Industries Ltd 3.3
Hdfc Bank Ltd 3.2
Samsung Electronics Co Ltd 3.2
Alibaba Group Holding Ltd 3.1
Chroma Ate Inc 2.7
Prosus Nv 2.0
International Container Terminal Servic 1.9
Top 10 Total 38.9

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

Calendar Year Returns (%)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
VanEck Emerging Markets Fund: Class A
At Net Asset Value (NAV) -12.91 -0.43 49.70 -23.30 29.52 16.43 -12.15 -25.23 10.62 -0.29
MSCI Emerging Markets Investable Markets Index (IMI) -13.86 9.90 36.83 -15.04 17.65 18.39 -0.28 -19.83 11.67 7.09
MSCI Emerging Markets Index -14.92 11.19 37.28 -14.57 18.42 18.31 -2.54 -20.09 9.83 7.50

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 fees, investment returns would have been reduced. 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.

Calendar Year Returns (%)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
VanEck Emerging Markets Fund: Class A
MSCI Emerging Markets Investable Markets Index (IMI)2 -13.86 9.90 36.83 -15.04 17.65 18.39 -0.28 -19.83 11.67 7.09

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 fees, investment returns would have been reduced. 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.

VanEck Emerging Markets Fund

As of November 30, 2025

Sector Weightings

Sector % of Net Assets
Information Technology 23.5
Financials 21.9
Consumer Discretionary 19.8
Industrials 11.5
Communication Services 8.3
Real Estate 6.5
Health Care 4.7
Energy 3.5
Consumer Staples 1.6
Cash -1.3

Market Capitalization Breakdown

Market Capitalization % of Net Assets
Large (>= $10 billion) 79.4
Mid (< $10 billion >= $2 billion) 15.8
Small (< $2 billion) 4.8
Average Weighted Market Cap $47.6B

Market capitalization (cap) is the value of a corporation as determined by the market price of its issued and outstanding common stock.

Country Weightings

Country % of Net Assets
■ China 26.9
■ India 18.4
■ Taiwan Region 13.9
■ South Korea 10.8
■ Brazil 7.1
■ United Arab Emirates 2.5
■ Saudi Arabia 2.3
■ Singapore 2.3
■ Greece 2.1
■ Poland 2.1
■ Mexico 1.9
■ Philippines 1.8
■ United Kingdom 1.8
■ Kazakhstan 1.4
■ Turkey 1.4
■ Hungary 1.3
■ Egypt 1.2
■ Tanzania 1.2
■ Peru 0.7
■ South Africa 0.3
■ Cash -1.3

Three-Year Risk Measures and Statistics

Volatility (Standard Deviation) 14.36
Sharpe Ratio 0.33
Alpha vs. MSCI EM IMI -3.14
Beta vs. MSCI EM IMI 1.00
R-squared vs. MSCI EM IMI 83.09

Five-Year Risk Measures and Statistics

Volatility (Standard Deviation) 16.98
Sharpe Ratio -0.26
Alpha vs. MSCI EM IMI -6.01
Beta vs. MSCI EM IMI 1.02
R-squared vs. MSCI EM IMI 82.66
Source: VanEck and FactSet. Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.

Portfolio facts and statistics are shown for Class A shares only unless otherwise noted; other classes may have different characteristics.  

The MSCI Emerging Markets Investment Market Index (MSCI EM IMI) is a free float-adjusted market capitalization index that is designed to capture large-, mid- and small-cap representation across emerging markets countries. The Morgan Stanley Capital International (MSCI) Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Certain indices may take into account withholding taxes. Investors cannot invest directly in the Index. Index returns assume that dividends have been reinvested.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks which may include, but are not limited to, risks associated with active management, consumer discretionary sector, direct investments, emerging market issuers, ESG investing strategy, financials sector, foreign currency, foreign securities, industrials sector, information technology sector, market, operational, restricted securities, investing in other funds, small- and medium-capitalization companies, special purpose acquisition companies, special risk considerations of investing in Brazilian, Chinese, Indian, Latin American and Taiwanese issuers, and Stock Connect risks, all of which may adversely affect the Fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Small- and medium-capitalization companies may be subject to elevated risks. Investments in Chinese issuers may entail additional risks that include, among others, lack of liquidity and price volatility, currency devaluations and exchange rate fluctuations, intervention by the Chinese government, nationalization or expropriation, limitations on the use of brokers, and trade limitations.

Investing involves risk, including possible loss of principal. Please call 800.826.2333 or visit vaneck.com for a free prospectus and summary prospectus. An investor should consider the investment objective, risks, and charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and information about the investment company. Please read the prospectus and summary prospectus carefully before investing.   

Van Eck Securities Corporation, Distributor, a wholly-owned subsidiary of Van Eck Associates Corporation, 666 Third Avenue, New York, NY 10017

FUND TICKER: GBFAX | EMRCX | EMRIX | EMRYX | EMRZX 800.826.2333 VANECK.COM