VANECK CHINA BOND ETF
SCHEDULE OF INVESTMENTS
July 31, 2022 (unaudited)
Par (000’s | ) | Value | |||||||
CORPORATE BONDS: 55.3% | |||||||||
Basic Materials: 9.4% | |||||||||
Anshan Iron And Steel Group Co. Ltd. 4.28% (ChinaBond Government Security Yield Curve 3Y YTM+4.81%),07/30/23 (o) (s) | CNY | 13,000 | $ | 1,957,935 | |||||
ChemChina Petrochemical Co. Ltd. 4.00%, 11/06/24 | CNY | 20,000 | 2,978,258 | ||||||
Guangdong Guangxin Holdings Group Ltd. 3.37%, 03/11/25 | CNY | 20,000 | 3,002,272 | ||||||
Taiyuan Iron & Steel Group Co. Ltd. 3.88%, 08/13/24 | CNY | 10,000 | 1,518,560 | ||||||
Zijin Mining Group Co. Ltd. 3.51%, 02/21/25 | CNY | 10,000 | 1,507,837 | ||||||
10,964,862 | |||||||||
Consumer Cyclicals: 1.4% | |||||||||
Beijing Infrastructure Investment Co. Ltd. 3.09%, 09/01/24 | CNY | 6,000 | 899,015 | ||||||
Beijing Tourism Group Co. Ltd. 3.95%, 08/02/26 | CNY | 4,900 | 742,879 | ||||||
1,641,894 | |||||||||
Energy: 3.0% | |||||||||
PetroChina Co. Ltd. 3.50%, 01/19/26 | CNY | 3,490 | 529,621 | ||||||
Yankuang Energy Group Co. Ltd. 3.43%, 03/12/25 | CNY | 20,000 | 3,008,684 | ||||||
3,538,305 | |||||||||
Financials: 21.2% | |||||||||
Beijing Automotive Group Co. Ltd. 4.48%, 10/19/23 | CNY | 9,600 | 1,449,856 | ||||||
Beijing Haidian State-Owned Assets Operation Co. Ltd. 3.70%, 10/24/24 | CNY | 15,000 | 2,229,111 | ||||||
Beijing State-Owned Capital Operation Management Co. Ltd. 3.85%, 01/14/24 | CNY | 15,000 | 2,270,080 | ||||||
China Cinda Asset Management Co. Ltd. 4.75%, 04/14/27 | CNY | 20,000 | 3,152,171 | ||||||
China Development Bank | |||||||||
3.39%, 02/03/27 | CNY | 20,904 | 3,189,525 | ||||||
3.87%, 08/01/23 | CNY | 20,709 | 3,126,213 | ||||||
4.59%, 08/01/38 | CNY | 20,301 | 3,476,805 | ||||||
Chongqing Longhu Development Co. Ltd. | |||||||||
3.45%, 08/02/23 | CNY | 5,000 | 739,330 | ||||||
3.75%, 03/21/23 | CNY | 1,600 | 237,259 | ||||||
4.44%, 01/25/24 | CNY | 8,000 | 1,196,278 | ||||||
Cinda Investment Co. Ltd. 4.30%, 12/22/23 | CNY | 1,500 | 223,854 |
Par (000’s | ) | Value | |||||||
Financials (continued) | |||||||||
CITIC Securities Co. Ltd. 3.78%, 09/10/24 | CNY | 3,000 | $ | 456,503 | |||||
Guangzhou Asset Management Co. Ltd. 3.79%, 01/22/24 | CNY | 15,000 | 2,260,351 | ||||||
Guotai Junan Securities Co. Ltd. 3.31%, 05/21/24 | CNY | 200 | 30,122 | ||||||
Qingdao Conson Development Group Co. Ltd. 3.55%, 01/09/25 | CNY | 5,000 | 745,498 | ||||||
24,782,956 | |||||||||
Industrials: 10.1% | |||||||||
China Railway Group Ltd. 3.99%, 07/16/24 | CNY | 5,000 | 762,339 | ||||||
China State Railway Group Co. Ltd. 3.45%, 07/25/24 | CNY | 15,000 | 2,267,841 | ||||||
Guangzhou Metro Group Co. Ltd. 6.05%, 06/03/24 # | CNY | 900 | 139,298 | ||||||
Hubei Provincial Communications Investment Group Co. Ltd. 6.68%, 03/27/24 | CNY | 3,500 | 554,109 | ||||||
Jiangxi Ganyue Expressway Co. Ltd. 6.09%, 08/11/24 | CNY | 2,100 | 333,182 | ||||||
Nanjing Yangzi State-Owned Investment Group Co. Ltd. 3.63%, 10/21/24 | CNY | 12,000 | 1,784,263 | ||||||
Shandong Hi-Speed Group Co. Ltd. 4.00%, 10/21/24 | CNY | 17,000 | 2,595,085 | ||||||
Shanghai Pudong Development Group Co. Ltd. 3.52%, 04/21/26 | CNY | 10,000 | 1,508,910 | ||||||
Sichuan Development Holding Co. Ltd. | |||||||||
4.30%, 03/26/24 | CNY | 5,000 | 762,792 | ||||||
4.55%, 08/06/25 | CNY | 5,000 | 779,545 | ||||||
Tianjin Infrastructure Construction & Investment Group Co. Ltd. 5.70%, 02/26/23 # | CNY | 135 | 19,899 | ||||||
Wuhan Metro Group Co. Ltd. 3.55%, 04/14/30 | CNY | 2,000 | 302,124 | ||||||
11,809,387 | |||||||||
Real Estate: 4.5% | |||||||||
Beijing Public Housing Center Co. Ltd. 3.19%, 04/16/40 | CNY | 15,000 | 2,249,882 | ||||||
China Fortune Land Development Co. Ltd. | |||||||||
5.50%, 10/22/22 (d) * | CNY | 1,000 | 36,844 | ||||||
7.00%, 03/03/21 (d) * | CNY | 1,000 | 37,207 | ||||||
China Vanke Co. Ltd. 3.55%, 09/26/24 | CNY | 10,000 | 1,484,549 |
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VANECK CHINA BOND ETF
SCHEDULE OF INVESTMENTS
(unaudited) (continued)
Par (000’s | ) | Value | |||||||
Real Estate (continued) | |||||||||
COFCO Commercial Property Investment Co. Ltd. 3.94%, 01/25/25 | CNY | 10,000 | $ | 1,498,266 | |||||
5,306,748 | |||||||||
Technology: 0.3% | |||||||||
Beijing State-Owned Assets Management Co. Ltd. 5.90%, 06/25/24 | CNY | 2,052 | 323,391 | ||||||
Utilities: 5.4% | |||||||||
China Huaneng Group Co. Ltd. 3.55% (ChinaBond Government Security Yield Curve 5Y YTM+3.56%), 03/09/25 (o) (s) | CNY | 15,000 | 2,265,938 | ||||||
China Southern Power Grid Co. Ltd. 5.90%, 03/19/24 | CNY | 900 | 140,839 | ||||||
China Yangtze Power Co. Ltd. 3.35%, 10/17/26 | CNY | 1,500 | 225,435 | ||||||
Guangdong Hengjian Investment Holding Co. Ltd. 3.84%, 08/07/24 | CNY | 5,000 | 759,519 |
Par (000’s | ) | Value | |||||||
Utilities (continued) | |||||||||
Guangzhou Development District Holding Group Co. Ltd. 4.75%, 07/23/23 | CNY | 4,000 | $ | 598,988 | |||||
Shandong Luxin Investment Holdings Group Co. Ltd. 3.85%, 01/07/26 | CNY | 10,000 | 1,510,520 | ||||||
State Power Investment Corp. Ltd. 4.20%, 11/20/23 | CNY | 4,995 | 758,448 | ||||||
6,259,687 | |||||||||
Total Corporate Bonds (Cost: $66,285,042) | 64,627,230 | ||||||||
GOVERNMENT OBLIGATIONS: 2.5% | |||||||||
China Government Bond | |||||||||
2.90%, 05/05/26 | CNY | 846 | 127,327 | ||||||
3.27%, 08/22/46 | CNY | 500 | 2,727,129 | ||||||
Total Government Obligations (Cost: $2,671,845) | 2,854,456 | ||||||||
Total Investments: 57.8% (Cost: $68,956,887) | 67,481,686 | ||||||||
Other assets less liabilities: 42.2% | 49,309,725 | ||||||||
NET ASSETS: 100.0% | $ | 116,791,411 |
Definitions: | |
CNY | Chinese Yuan |
Footnotes: | |
(o) | Perpetual Maturity — the date shown is the next call date |
(s) | The rate shown reflects the rate in effect at the end of the reporting period. Coupon adjusts periodically based upon a predetermined schedule |
# | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $159,197 which represents 0.1% of net assets. |
(d) | Security in default |
* | Non-income producing |
Summary of Investments by Sector | % of Investments | Value | ||||||
Basic Materials | 16.3 | % | $ | 10,964,862 | ||||
Consumer Cyclicals | 2.4 | 1,641,894 | ||||||
Energy | 5.2 | 3,538,305 | ||||||
Financials | 36.7 | 24,782,956 | ||||||
Government Activity | 4.2 | 2,854,456 | ||||||
Industrials | 17.5 | 11,809,387 | ||||||
Real Estate | 7.9 | 5,306,748 | ||||||
Technology | 0.5 | 323,391 | ||||||
Utilities | 9.3 | 6,259,687 | ||||||
100.0 | % | $ | 67,481,686 |
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