Net Asset Value(s)

VanEck published NAV and share-count data for multiple UCITS funds as of 2026-02-02, including VANECK MORN DM DIV LEADERS (113,950,000 shares; NAV €5,704,537,434.14; NAV/share €50.0618), VANECK WRLD EQ WEIGHT SCREENED (31,803,010 shares; NAV €1,220,346,667.89; NAV/share €38.3720) and VANECK AEX UCITS ETF (3,888,777 shares; NAV/share €101.0169). The table lists ISINs, shares outstanding, total NAV and per-share NAV for eleven VanEck funds spanning equity, real estate and bond-focused strategies, providing routine valuation and size metrics for portfolio and liquidity monitoring.

Analysis

Market structure: Large VanEck equity ETFs (VANECK MORN DM DIV LEADERS NL0011683594 AUM €5.7bn; VANECK WRLD EQ WEIGHT SCREENED NL0010408704 AUM €1.22bn) are the liquidity and flow magnets — they win from passive allocation and tighter spreads. Small fixed‑income products (VANECK IBOXX EUR CORPORATES NL0009690247 AUM €38m; IBOXX SOV DIV 1‑10 NL0009690254 AUM €30m) are vulnerable to outflows and investor flight‑to‑quality, which can widen secondary spreads and push execution costs higher.

Risk assessment: Tail risks include an ECB surprise rate hike or sharp euro credit shock that could compress NAVs of RE and dividend ETFs by >15% within 3 months and trigger redemptions in sub‑€100m bond ETFs leading to fund closures. Immediate (days) risk is liquidity/premium volatility in small‑AUM ETFs; short term (weeks/months) is flow‑driven repricing around quarter/ETF rebalance windows; long term (quarters/years) is structural crowding into screened/equal‑weight strategies.

Trade implications: Favor size and liquidity — overweight large dividend/equal‑weight ETFs and underweight small iBoxx corporate ETFs. Implement risk hedges (3–6 month put spreads) on VANECK GLOBAL REAL ESTATE NL0009690239 given sensitivity to rates; execute a relative‑value pair: long AAA‑AA 1‑5y (NL0010273801) and short broader corporates (NL0009690247) to monetize expected spread volatility over 1–3 months.

Contrarian angles: Consensus underestimates operational fragility of <€50m credit ETFs — shorting or buying protection pays if spreads gap >50–75bp. Conversely, crowding into the large dividend ETF risks mean reversion; consider selling covered calls against NL0011683594 exposure if premiums exceed 2.5% monthly. Monitor weekly AUM flows, ETF premium/discount >±0.5%, and iBoxx option‑implied spreads as actionable triggers.

Key Decisions for Investors

• Establish a 2–3% portfolio long in VANECK MORN DM DIV LEADERS (ISIN NL0011683594) over the next 2–6 weeks, scale in on any pullback >3% or ETF discount >0.5%; target 6–12 month total return 8–12% and trim at +12% or if dividend yield compresses >50bp.
• Initiate a 1–2% pair trade: long VANECK IBOXX EUR AAA‑AA 1‑5 (ISIN NL0010273801) and short VANECK IBOXX EUR CORPORATES (ISIN NL0009690247) for 1–3 months to capture spread widening; size 1:1, stop‑loss if spread moves unfavorably by >30bp intraday.
• Buy 3–6 month put spreads (limit cost) on VANECK GLOBAL REAL ESTATE (ISIN NL0009690239) equal to 0.5–1% notional to hedge portfolio tail risk if ECB surprises or property yields gap >100bp; leg into strikes ~5–10% out‑of‑the‑money to cap premium.
• Reduce allocation to small‑AUM fixed‑income ETFs (those <€100m AUM: NL0009690247, NL0009690254) by 50% in next 30 days and rotate into large liquid equity ETFs (NL0011683594, NL0010408704) or short‑duration sovereigns if bid/ask spreads widen >0.75%.