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
50 bp
EXPENSES
$137.8 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Van Eck Funds |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 29, 2008 |
| Assets (mns) | $138 |
| 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 | 5.1 % |
| CHEVRON CORP | 5.1 % |
| DEERE & CO | 5.0 % |
| NEXTERA ENERGY GROUP | 4.2 % |
| BHP BILLITON LTD-SPON ADR | 3.7 % |
| IBERDROLA SA | 2.6 % |
| CORTEVA INC | 2.6 % |
| BAYER AG | 2.2 % |
| RIO TINTO PLC-SPON ADR | 2.1 % |
| NUTRIEN LTD. | 2.0 % |
Constituent Breakdown
| Number of holdings | 141 |
| Herfindahl-Hirschman Index | 222 |
| Wgt avg mkt cap (mns) | $89,466 |
| Large cap (>$10bn) | 89.2% |
| Mid cap ($2-10bn) | 9.2% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 91.0% |
| Emerging mkts. | 9.0% |
Country Exposure
 |
UNITED STATES | 46.3 % |
 |
CANADA | 10.7 % |
 |
AUSTRALIA | 5.9 % |
 |
BRITAIN | 5.2 % |
 |
SPAIN | 3.1 % |
 |
BRAZIL | 2.7 % |
 |
JAPAN | 2.3 % |
 |
GERMANY | 2.2 % |
 |
NORWAY | 1.6 % |
 |
FRANCE | 1.5 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -4.9% | -0.5% | 4.5% | 3.1% | 7.7% | 4.0% | 4.6% | Volatility | 13.1% | 14.4% | 19.2% | 19.2% | 23.5% | 20.3% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 52% |
| MSCI EAFE | 0.91 | 64% |
| MSCI Emg Mkts | 0.68 | 37% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.14% |
| ADV of underlying (mns) | $28,516 |
Technical Indicators
| Recent close | $50.47 |
| 30d moving avg. | $50.52 |
| Annualized volatility | 19.7% |
| Relative strength (RSI) | 46 |
| Short interest (ETF) | 2.7% |
| Short interest (underlying) | 0.0% |
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. HAP |
Expenses vs. HAP |
ALTAR Score™ vs. HAP |
|---|---|---|---|---|
| GNR | SPDR S&P Global Natural Resources ETF | 39.3% | -10 bp | -0.2% |
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Ind | 35.5% | -4 bp | -0.7% |
| IGE | iShares North American Natural Resources ETF | 29.4% | -9 bp | -3.1% |
| FTWO | Strive FAANG 2.0 ETF | 28.9% | -1 bp | -4.8% |
| MOO | VanEck Agribusiness ETF | 24.3% | +3 bp | -0.4% |
| NANR | SPDR S&P North American Natural Resources ETF | 22.0% | -15 bp | -2.7% |
| VEGI | iShares MSCI Agriculture Producers ETF | 18.4% | -11 bp | -0.5% |
| DFRA | Donoghue Forlines Yield Enhanced Real Asset ETF | 17.9% | +19 bp | -1.4% |
| IYE | iShares U.S. Energy ETF | 17.9% | -10 bp | -3.1% |
| MXI | iShares Global Materials ETF | 17.8% | -9 bp | -3.2% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 7/25/2024
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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
HAP
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
HAP
10.0%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 10.0% |
Recommendation
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.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. HAP's ALTAR Score™ is approximately
1.2 standard deviations
above
the category average. This places HAP in the 89th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
HAP
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| HAP (50 bp) Percentile rank | 38 |
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 | 14.0 | 64 |
| Peer Avg. | 51.3 | 36.4 | 87.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .