VanEck Vectors BDC Income ETF
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
7.7x P/Sales
ratio
3.0x
P/BV
ratio
0.6x Div.
yield
13.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors BDC Income ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the VanEck Vectors US Business Development Companies Index. The Index is a rules based index intended to track the overall performance of publicly traded business development companies.

FUND BASICS
Category Global Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Feb 12, 2013
Assets (mns) $195
Currency USD
Expense ratio 962 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon/The
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 26
Wgt avg mkt cap (mns) $1,828
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 20.9%
Small cap (<$2bn) 79.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ARES CAPITAL CORP 19.1 %
PROSPECT CAPITAL CORP 6.1 %
MAIN STREET CAPITAL CORP 5.9 %
HERCULES TECHNOLOGY GROWTH 5.2 %
FS INVESTMENT CORP 5.1 %
GOLUB CAPITAL BDC INC 5.1 %
TPG SPECIALTY LENDING, INC. 4.7 %
NEW MOUNTAIN FINANCE CORP 4.1 %
APOLLO INVESTMENT CORP 3.6 %
TCP CAPITAL CORP 3.6 %
Total 62.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-33.5% -28.1% -1.6% -- -0.3%

Market Correlations
versus... Beta R-squared
S&P500 1.41 67%
MSCI EAFE 1.45 60%
MSCI Emg. Mkts. 1.06 51%

Technical Indicators
Recent close $11.74
30d moving avg. $10.48
Annualized volatility 29.1%
Short interest (ETF) 1.2%
Short interest (Underlying) 3.0%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 238
Turnover 1.4%
Bid/Ask (% of price) 0.62%
ADV underlying (mns) $216

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 11 potential alternatives to the VanEck Vectors BDC Income ETF ETF based on the alternatives' overlap in portfolio holdings with BIZD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BIZD Expense: 962 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BIZD
Ticker Fund
Name
Overlap1
vs BIZD
(%)
Expense
ratio
(bp)
Savings
vs BIZD
(bp)
ALTAR
Score™
(%)
ALTAR
vs BIZD
(%)
PEX ProShares Global Listed Private Equity ETF 44.6 313 649 7.4 +1.7
KBWD Invesco KBW High Dividend Yield Financial ETF 24.6 158 804 16.4 +10.8
PSP Invesco Global Listed Private Equity ETF 12.3 178 784 6.0 +0.3
BFOR Barron's 400 ETF 0.5 66 896 6.8 +1.1
ETHO Etho Climate Leadership U.S. ETF 0.4 47 915 4.8 -0.9
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 0.3 125 837 -3.0 -8.7
AIEQ AI Powered Equity ETF 0.3 87 875 3.6 -2.1
AFSM First Trust Active Factor Small Cap ETF 0.2 75 887 6.9 +1.2
PKW Invesco Buyback Achievers ETF 0.0 62 900 7.5 +1.8
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 0.0 75 887 6.3 +0.7
HUSE US Equity Rotation Strategy ETF 0.0 120 842 0.0 -5.7

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
VanEck Vectors BDC Income ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.2 %
Divided by: Fwd. P/BV 0.6 x
Less: Expense ratio 962 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.51
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.