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
147.5 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) | $147 |
| 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 | 5.0 % |
| SHELL PLC | 4.9 % |
| DEERE & CO | 4.9 % |
| CHEVRON CORP | 4.6 % |
| NEXTERA ENERGY GROUP | 4.3 % |
| IBERDROLA SA | 4.0 % |
| CORTEVA INC | 3.3 % |
| BHP BILLITON LTD-SPON ADR | 3.2 % |
| NUTRIEN LTD. | 2.3 % |
| AGNICO-EAGLE MINES LTD | 2.2 % |
Constituent Breakdown
| Number of holdings | 135 |
| Herfindahl-Hirschman Index | 213 |
| Wgt avg mkt cap (mns) | $91,391 |
| Large cap (>$10bn) | 89.1% |
| Mid cap ($2-10bn) | 9.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 92.6% |
| Emerging mkts. | 7.0% |
Country Exposure
 |
UNITED STATES | 44.6 % |
 |
CANADA | 13.6 % |
 |
AUSTRALIA | 5.5 % |
 |
BRITAIN | 5.1 % |
 |
SPAIN | 4.0 % |
 |
JAPAN | 2.5 % |
 |
BRAZIL | 2.3 % |
 |
GERMANY | 2.2 % |
 |
NORWAY | 1.8 % |
 |
FRANCE | 1.5 % |
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 6.1% | -4.6% | -1.1% | -2.3% | 11.3% | 3.2% | -- | 1.6% |
| Dividend Yield | 0.0% | 0.0% | 1.6% | 2.2% | 2.5% | 2.5% | -- | 2.1% |
| Total Returns | 6.1% | -4.6% | 0.5% | -0.1% | 13.8% | 5.7% | -- | 3.7% | Ann. Volatility | 24.8% | 18.8% | 16.8% | 19.7% | 20.0% | 20.6% | -- | 24.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.85 | 51% |
| MSCI EAFE | 0.99 | 74% |
| MSCI Emg Mkts | 0.77 | 45% |
Liquidity Measures
| Avg. volume (000) | 10 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.14% |
| ADV of underlying (mns) | $11,419 |
Technical Indicators
| Recent close | $48.36 |
| 30d moving avg. | $48.16 |
| Annualized volatility | 19.6% |
| Relative strength (RSI) | 51 |
| 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 | 36.4% | -10 bp | +1.7% |
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Ind | 35.0% | -4 bp | +0.4% |
| IGE | iShares North American Natural Resources ETF | 31.2% | -9 bp | -1.9% |
| FTWO | Strive FAANG 2.0 ETF | 28.1% | -1 bp | -5.2% |
| NANR | SPDR S&P North American Natural Resources ETF | 26.9% | -15 bp | -1.3% |
| MOO | VanEck Agribusiness ETF | 24.4% | +3 bp | +0.5% |
| CCNR | ALPS CoreCommodity Natural Resources ETF | 18.5% | -11 bp | +1.4% |
| VEGI | iShares MSCI Agriculture Producers ETF | 18.1% | -11 bp | -1.3% |
| IYE | iShares U.S. Energy ETF | 17.1% | -10 bp | -0.3% |
| FTAG | First Trust Indxx Global Agriculture ETF | 17.0% | +20 bp | -1.6% |
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
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 4/30/2025
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
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 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
10.4%
Cat. Avg
5.2%
ALTAR Score™ Calculation
Category Overview
There are 360 funds in the Global Equity category, with an average ALTAR Score™
of 5.2% and a standard deviation of
3.5%. HAP's ALTAR Score™ is approximately
1.5 standard deviations
above
the category average. This places HAP in the 93rd 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 | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 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 | 14.0 | 64 |
| Peer Avg. | 55.2 | 32.9 | 88.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .