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IIGCX
International Investors Gold Fund - Class C

Class C Details: IIGCX

INCEPTION DATE GROSS/NET EXPENSES1
10/03/03 2.13%/2.13%

Sector Weightings (%)
as of 10/31/22

SECTOR % OF NET ASSETS
Gold 94.2
Diversified Metals & Mining 1.4
Silver 0.7
Precious Metals & Minerals 0.5
Other 1.5
Cash 1.7

Country Weightings (%) as of 10/31/22

COUNTRY % OF NET ASSETS
Canada
67.4
Australia
14.9
United States
9.6
United Kingdom
6.4
Cash
1.7

Top 10 Holdings (%)

HOLDINGS
SECTOR
% OF NET ASSETS
Agnico Eagle Mines Limited
Gold
9.8
Franco-Nevada Corporation
Gold
9.8
Endeavour Mining PLC
Gold
6.4
Barrick Gold Corporation
Gold
6.3
Wheaton Precious Metals Corp
Gold
5.1
Kinross Gold Corporation
Gold
5.0
Newmont Corporation
Gold
4.9
B2Gold Corp.
Gold
4.7
Alamos Gold Inc.
Gold
4.6
Yamana Gold Inc.
Gold
4.4
Top 10 Total 61.0

View All Holdings

These are not recommendations to buy or sell any security. Holdings may vary.

Fund Details
as of 10/31/22

  • Net Assets (All Classes)
    $588.2M
  • Number of Holdings
    43
  • Avg. Wtd. Market Cap
    $4.1B
  • Turnover Rate (2021)
    22.8%
  • P/B (LTM)*
    1.3
  • Benchmark Index
    NYSE Arca Gold Miners (GDMNTR) Index
*Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

Production Level Breakdown (%) as of 10/31/22

MARKET CAPITALIZATION % OF NET ASSETS
Senior/Majors (1.5M - 6.0M oz.) 45.8%
Mid-Tiers (0.3M - 1.5M oz.) 29.4%
Juniors (<0.3M oz.) 24.8%
Average Weighted Market Cap $4.1B

Portfolio production level classifications are determined by VanEck’s Gold and Precious Metals Investment Team.

Three-Year Risk Measures & Statistics
as of 10/31/22

Volatility (Standard Deviation) 38.83
Sharpe Ratio -0.15
Alpha vs. NYSE Arca Gold Miners Index -0.90
Beta vs. NYSE Arca Gold Miners Index 1.04
R-squared vs. NYSE Arca Gold Miners Index 95.48
Source: VanEck and FactSet.
Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.

Five-Year Risk Measures and Statistics
as of 10/31/22

Volatility (Standard Deviation) 33.56
Sharpe Ratio -0.03
Alpha vs. NYSE Arca Gold Miners Index -2.20
Beta vs. NYSE Arca Gold Miners Index 1.02
R-squared vs. NYSE Arca Gold Miners Index 95.28
Source: VanEck and FactSet.
Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.

Gold Fund Portfolio Construction

Type of Company Target Number of Holdings Individual Holding Range Target Fund Allocations
Medium- to Large-Cap Gold Top 10 3.5% to 10% 50%
Small-Cap Gold or Silver 20-40 0.5% to 3% 10-40%
Medium- to Large-Cap
Gold, Silver (non-top 10)
20-30 0.5% to 3.5% 10-40%

This table is for illustrative purposes only, and the Fund's portfolio construction process may change over time. This table shows the typical holding and allocation range for VanEck International Investors Gold Fund. We employ a bottom-up process that searches for: 1) organic growth; 2) value; 3) acquisition targets; and 4) strong Management. In addition, we then employ our top-down macro process that: 1) adjusts weightings to match gold price outlook; 2) seeks to increase beta with positive outlook (unhedged producers, high-cost producers, juniors); and 3) seeks to decrease gold beta with negative outlook (hedged producers, large-cap stocks, gold vehicles including bullion, ETFs, structured notes)

Gold-Mining Industry Discoveries

  Gold-Mining Industry Discoveries 
Joe Foster, Portfolio Manager: "One of our key themes for Van Eck International Investors Gold Fund is that we believe that decreasing mine production and gold deposit discoveries, coupled with the potential for inflationary pressures (particularly among emerging markets), as well as investment and jewelry demand, should further support gold equities."
Data Source: CIBC, Van Eck Research. Data as of December 31, 2015. This chart is for illustrative purposes only. Historical information is not indicative of future results; current data may differ from data quoted.

Narrowing the Universe

Narrowing the Gold Equities Universe 
This graphic is for illustrative purposes only, and the Fund's portfolio construction process may change over time.

Industry Benchmarks: Know Your Indices

  • The NYSE Arca Gold Miners (GDMNTR) Index (the "Index") is a Net Total Return modified market capitalization weighted index comprised of publicly traded companies primarily involved in the mining of gold and silver in locations around the world.
  • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.
  • All indices listed are unmanaged and are not securities in which investments can be made.