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.
Fund Basics
| Fund sponsor | Van Eck Funds |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 29, 2008 |
| Assets (mns) | $114 |
| 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 | 5.3 % |
| DEERE & CO | 5.1 % |
| CHEVRON CORP | 5.1 % |
| NEXTERA ENERGY GROUP | 4.1 % |
| BHP BILLITON LTD-SPON ADR | 3.9 % |
| IBERDROLA SA | 2.8 % |
| CORTEVA INC | 2.3 % |
| RIO TINTO PLC-SPON ADR | 2.2 % |
| NUTRIEN LTD. | 2.2 % |
| BAYER AG | 2.1 % |
Constituent Breakdown
| Number of holdings | 147 |
| Herfindahl-Hirschman Index | 219 |
| Wgt avg mkt cap (mns) | $91,050 |
| Large cap (>$10bn) | 88.0% |
| Mid cap ($2-10bn) | 10.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 90.8% |
| Emerging mkts. | 9.2% |
Country Exposure
 |
UNITED STATES | 46.4 % |
 |
CANADA | 10.5 % |
 |
AUSTRALIA | 6.5 % |
 |
BRITAIN | 5.7 % |
 |
SPAIN | 3.2 % |
 |
BRAZIL | 2.8 % |
 |
JAPAN | 2.3 % |
 |
GERMANY | 2.1 % |
 |
SWITZERLAND | 1.7 % |
 |
DENMARK | 1.6 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -3.2% | -1.0% | -4.2% | 4.8% | 8.7% | 4.9% | 4.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.81 | 54% |
| MSCI EAFE | 0.92 | 65% |
| MSCI Emg Mkts | 0.69 | 38% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.14% |
| ADV of underlying (mns) | $21,961 |
Technical Indicators
| Recent close | $51.15 |
| 30d moving avg. | $48.13 |
| Annualized volatility | 19.6% |
| Relative strength (RSI) | 54 |
| Short interest (ETF) | 0.1% |
| 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 | 40.7% | -10 bp | -0.3% |
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Ind | 33.5% | -4 bp | -0.7% |
| FTWO | Strive FAANG 2.0 ETF | 29.7% | -1 bp | -4.7% |
| IGE | iShares North American Natural Resources ETF | 27.7% | -9 bp | -3.1% |
| MOO | VanEck Agribusiness ETF | 23.8% | +3 bp | -0.1% |
| NANR | SPDR S&P North American Natural Resources ETF | 23.6% | -15 bp | -2.7% |
| MXI | iShares Global Materials ETF | 19.1% | -9 bp | -2.9% |
| IXC | iShares Global Energy ETF | 18.3% | -6 bp | -1.3% |
| IYE | iShares U.S. Energy ETF | 18.3% | -10 bp | -3.0% |
| GCOW | Pacer Global Cash Cows Dividend ETF | 17.9% | +10 bp | +4.1% |
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 4/24/2024
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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
9.5%
Cat. Avg
3.6%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.5% |
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 347 funds in the Global Equities category, with an average ALTAR Score™
of 3.6% and a standard deviation of
5.0%. HAP's ALTAR Score™ is approximately
1.2 standard deviations
above
the category average. This places HAP in the 88th 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
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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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. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .