EMLC
VanEck J.P. Morgan EM Local Currency Bond ETF
VanEck ETF Trust
ETFIndex fund
Expense ratio1
0.30%
Net assets2
$4.75B
Holdings2
490
Category
Taxable Bond
2025 return3
18.22%

Investment objective & strategy

As of April 29, 2025 · prospectus

Objective. VanEck J.P. Morgan EM Local Currency Bond ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the J.P. Morgan GBI-EM Global Core Index (the Emerging Markets Global Core Index or the Index).

Strategy. The Fund normally invests at least 80% of its total assets in securities that comprise the Funds benchmark index. For purposes of this policy, the term assets means net assets plus the amount of any borrowings for investment purposes. The Emerging Markets Global Core Index is comprised of bonds issued by emerging market governments and denominated in the local currency of the issuer. As of December 31, 2024, the Emerging Markets Global Core Index included 391 bonds of 19 sovereign issuers. This 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days prior written notice to shareholders. The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the Emerging … The Fund normally invests at least 80% of its total assets in securities that comprise the Funds benchmark index. For purposes of this policy, the term assets means net assets plus the amount of any borrowings for investment purposes. The Emerging Markets Global Core Index is comprised of bonds issued by emerging market governments and denominated in the local currency of the issuer. As of December 31, 2024, the Emerging Markets Global Core Index included 391 bonds of 19 sovereign issuers. This 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days prior written notice to shareholders. The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the Emerging Markets Global Core Index. Unlike many investment companies that try to beat the performance of a benchmark index, the Fund does not try to beat the Emerging Markets Global Core Index and does not take temporary defensive positions that are inconsistent with its investment objective of seeking to replicate the Emerging Markets Global Core Index. Because of the practical difficulties and expense of purchasing all of the securities in the Emerging Markets Global Core Index, the Fund does not purchase all of the securities in the Emerging Markets Global Core Index. Instead, the Adviser utilizes a sampling methodology in seeking to achieve the Funds objective. As such, the Fund may purchase a subset of the bonds in the Emerging Markets Global Core Index in an effort to hold a portfolio of bonds with generally the same risk and return characteristics of the Emerging Markets Global Core Index. The Fund is classified as a non-diversified fund and, therefore, may invest a greater percentage of its assets in a particular issuer. The Fund may concentrate its investments in a particular industry or group of industries to the extent that the Emerging Markets Global Core Index concentrates in an industry or group of industries. As of December 31, 2024, the government sector represented a significant portion of the Fund.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
Presidencia da Republica NTNFF31 $45.05M 0.95%
SOUTH AFRICA REPUBLIC OF 8.75% 02/28/2048 $36.21M 0.76%
BRAZIL LETRAS DO TESOURO NACIONAL 0% 01/01/2029 $35.81M 0.75%
MEXICAN BONOS MXN 7.75% 05-29-31 MBONO $35.22M 0.74%
Turkiye Government Bond 30.00 09/12/2029 TURKGB $32.47M 0.68%
TITULOS DE TESORERIA 13.250000% 02/09/2033 TFIT11090233 $31.02M 0.65%
Presidencia da Republica NTNFF27 $30.98M 0.65%
SOUTH AFRICA REPUBLIC OF 8.875% 02/28/2035 SQWK $30.90M 0.65%
MEXICO UNITED MEXICAN STATES 7.75% 11/23/2034 M_BONOS_341123 $30.85M 0.65%
Presidencia da Republica NTNFF29 $30.26M 0.64%
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Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
17
Exited
18
Increased
365
Decreased
38
Unchanged
70

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

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Advisers

As of December 31, 2025 · N-CEN
FirmRole
Van Eck Associates Corporation Adviser

Footnotes

  1. Expense ratio as of April 29, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).

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