HAP
VanEck Natural Resources ETF
VanEck Vectors - Hard Assets Producers ETF seeks investment results that correspond to the price and yield of the Rogers - Van Eck Hard Assets Producers Index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
179.9 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Funds |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 29, 2008 |
| Assets (mns) | $180 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| EXXON MOBIL CORP | 4.9 % |
| DEERE & CO | 4.7 % |
| CHEVRON CORP | 4.7 % |
| NEXTERA ENERGY GROUP | 4.6 % |
| IBERDROLA SA | 3.8 % |
| BHP BILLITON LTD-SPON ADR | 2.7 % |
| BAYER AG | 2.6 % |
| CORTEVA INC | 2.6 % |
| NUTRIEN LTD. | 2.4 % |
| SHELL PLC-ADR | 2.3 % |
Constituent Breakdown
| Number of holdings | 146 |
| Herfindahl-Hirschman Index | 212 |
| Wgt avg mkt cap (mns) | $88,271 |
| Large cap (>$10bn) | 83.5% |
| Mid cap ($2-10bn) | 8.5% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 92.2% |
| Emerging mkts. | 7.1% |
Country Exposure
 |
UNITED STATES | 47.1 % |
 |
CANADA | 14.3 % |
 |
BRITAIN | 5.0 % |
 |
AUSTRALIA | 4.8 % |
 |
SPAIN | 3.8 % |
 |
GERMANY | 2.6 % |
 |
BRAZIL | 2.4 % |
 |
JAPAN | 2.1 % |
 |
NORWAY | 1.8 % |
 |
SOUTH AFRICA | 1.8 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 25.2% | 8.3% | 7.8% | 9.6% | 12.0% | 7.8% | -- | 2.6% |
| Dividend Yield | 0.0% | 2.9% | 3.3% | 3.4% | 3.1% | 2.9% | -- | 2.3% |
| Total Returns | 25.2% | 11.2% | 11.1% | 13.1% | 15.1% | 10.7% | -- | 4.8% | Ann. Volatility | 18.1% | 17.2% | 15.8% | 16.9% | 18.7% | 20.2% | -- | 24.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.78 | 40% |
| MSCI EAFE | 0.76 | 47% |
| MSCI Emg Mkts | 0.51 | 24% |
Liquidity Measures
| Avg. volume (000) | 12 |
| ADV traded (mns) | $1 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.11% |
Technical Indicators
| Recent close | $57.12 |
| 30d moving avg. | $56.35 |
| Annualized volatility | 16.6% |
| Relative strength (RSI) | 55 |
| Short interest | 0.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|
Risk and Returns: HAP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | ||||
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/15/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
HAP
9.1%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 369 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
3.2%. HAP's ALTAR Score™ is approximately
1.5 standard deviations
above
the category average. This places HAP in the 94th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HAPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 177 |
| Avg. Expense Ratio | 55.1 bp |
| Std. Deviation | 18.1 bp |
| HAP (50 bp) Percentile rank | 39 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HAP | 50.0 | 11.1 | 61.1 |
| Peer Avg. | 55.1 | 39.5 | 94.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .