VanEck J.P. Morgan EM Local Currency Bond ETF
Emerging-markets bond index ETF · tracks J.P. Morgan GBI-EM Global Core Index
As of its 2026 Q2 report, VanEck J.P. Morgan EM Local Currency Bond ETF held 500 positions with $4.87B in net assets. Its ten largest holdings made up 7.2% of the fund. The EMLC share class costs 0.3% a year. Over the 12 months to May 2026, EMLC returned 10.4%, with dividends reinvested. In 2026 Q2 it added 18 new positions and exited 8.
VanEck J.P. Morgan EM Local Currency Bond ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the J.P. Morgan GBI-EM Global Core Index (the Emerging Markets Global Core Index or the Index).
The fund uses a sampling methodology to track the J.P. Morgan GBI-EM Global Core Index, which comprises bonds issued by emerging market governments and denominated in local currency. Rather than holding all index constituents, the fund purchases a subset of bonds selected to match the index's overall risk and return characteristics. Because the fund is non-diversified, it may invest a greater percentage of its assets in a particular issuer. The sampling approach means the fund's holdings and performance may diverge from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
NOTA DO TESOURO NACIONAL 10.00% · due 2031-01-01 | 0.90% | $43.90M | — |
REPUBLIC OF SOUTH AFRICA 8.75% · due 2048-02-28 | 0.84% | $40.96M | — |
MEX BONOS DESARR FIX RT 7.75% · due 2031-05-29 | 0.76% | $37.07M | — |
NOTA DO TESOURO NACIONAL 10.00% · due 2029-01-01 | 0.71% | $34.86M | — |
LETRA TESOURO NACIONAL 0.00% · due 2027-07-01 | 0.70% | $34.19M | — |
REPUBLIC OF SOUTH AFRICA 8.88% · due 2035-02-28 | 0.68% | $32.96M | — |
MEX BONOS DESARR FIX RT 7.75% · due 2042-11-13 | 0.68% | $32.99M | — |
MEX BONOS DESARR FIX RT 7.75% · due 2034-11-23 | 0.67% | $32.54M | — |
MEX BONOS DESARR FIX RT 8.50% · due 2029-03-01 | 0.64% | $30.92M | — |
REPUBLIC OF SOUTH AFRICA 8.25% · due 2032-03-31 | 0.61% | $29.62M | — |
The 200 largest of 500 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 97.91% |
| Cash & short-term | 0.36% |
How it has done
EMLC share class · total returns with dividends reinvested
Volatility over the last 12 months: 7.80%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
VanEck J.P. Morgan EM Local Currency Bond ETF is an emerging-markets bond index ETF that tracks the J.P. Morgan GBI-EM Global Core Index.
- Asset class
- Bonds
- Region
- Emerging markets
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Features
- Non-diversified
- Expense ratio, by class
- 0.30%· EMLC 0.30%
- Portfolio turnover
- 26.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
18 new· the largest 4
8 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 96.3% |
| Zero-coupon or unclassified | 3.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.7% |
| 1-3y | 19.4% |
| 3-5y | 20.8% |
| 5-10y | 34.8% |
| 10y+ | 21.2% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying a small fraction as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 94% |
| Credit spreads | 6% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.24 yr |
| High yield | +0.08 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.63 yr | 12% |
| 5 yr | 1.93 yr | 36% |
| 10 yr | 2.20 yr | 41% |
| 30 yr | 0.60 yr | 11% |
| 3 mo | 0.00 yr | 1% |
| 1 yr | 0.07 yr | 23% |
| 5 yr | 0.14 yr | 44% |
| 10 yr | 0.10 yr | 31% |
| 30 yr | 0.00 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.00 | +0.00 | $1.5k | $141 |
| 1 yr | +0.63 | +0.06 | +0.01 | $31.3k | $3.9k |
| 5 yr | +1.93 | +0.12 | +0.02 | $56.9k | $12.0k |
| 10 yr | +2.20 | +0.05 | +0.05 | $26.7k | $22.1k |
| 30 yr | +0.60 | +0.00 | +0.00 | $324 | $195 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 5.38 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Understand how this fund fits with the rest.
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