VanEck Reduces Management Fee for Emerging Markets Bond ETF (EMBX)

As de-dollarization trends and a weaker U.S. dollar drive renewed U.S. investor interest in emerging markets debt, VanEck lowers the cost of accessing its actively managed EMBX strategy

NEW YORK--(BUSINESS WIRE)--VanEck today announced a reduction in the management fee for the VanEck Emerging Markets Bond ETF (EMBX), effective September 30, 2026. EMBX's total expense ratio will decrease from 0.76% to 0.65%.

The reduction comes as EMBX continues to build on its long-term track record. Over the past five years, the Fund has delivered an annualized return of 4.7% per year, compared with 2.3% for its benchmark and -2.4% for 10-year U.S. Treasuries. Since its inception in 2012, the Fund has outperformed its benchmark on an absolute and risk-adjusted basis, ranking in the top decile of its Morningstar category over the 10-year period and in the top quartile year-to-date and over the five-year period.

“Emerging markets bonds have outperformed Treasuries and global aggregate bonds on an outright and volatility-adjusted basis for much of the past two decades, a trend reinforced this year by continued fiscal discipline and central bank independence in many emerging economies,” said Eric Fine, Portfolio Manager at VanEck. “We believe our active, blended approach, spanning sovereigns and corporates across both hard- and local-currency debt, is well positioned to keep capturing the alpha in that opportunity set.”

This shift reflects a broader rotation as U.S. investors reassess concentrated exposure to domestic assets and look to diversify into markets underpinned by independent central banks, moderating inflation, and improving fiscal trajectories. As capital continues to flow back into the category, VanEck is focused on providing investors with an efficient, attractively priced way to access EMBX's active strategy.

VanEck's active Emerging Markets Fixed Income team, which manages EMBX, is led by Portfolio Manager Eric Fine and includes Deputy Portfolio Manager David Austerweil, Chief Economist Natalia Gurushina, and Senior Corporate Analyst Robert Schmieder. Globally, the team manages approximately $803.85 million in assets as of August 31, 2026.

“EMBX’s active approach and experienced team have driven consistent outperformance versus its benchmark since inception,” said Ed Lopez, Managing Director and Head of Product Management at VanEck. “As investor interest in emerging markets bonds continues to build, this fee reduction is another step in our ongoing commitment to delivering value for EMBX shareholders.”

Visit the VanEck Emerging Markets Bond ETF (EMBX) fund page for more information, including performance data, portfolio holdings and manager commentary, and learn more about the investment process in this FAQ.

Average Annual Total Returns^† as of August 31, 2026
	3 MO	YTD	1 Yr	5 Yr	10 YR
EMBX (NAV)	0.67	4.17	9.28	4.67	5.16
50% GBI-EM/50% EMBI*	0.79	2.77	7.86	2.29	3.07
^†Returns less than one year are not annualized.
EMBX Gross Expense Ratio – 0.76%

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

On October 6th, 2025, the Fund converted from an open-end mutual fund into an exchange-traded fund (“ETF”). As part of the conversion, the Fund adopted the accounting and performance history of its predecessor mutual fund (the “Predecessor Fund”). Performance shown for periods prior to October 6th, 2025 reflects the NAV performance of the Predecessor Fund’s institutional share class (“Class I”) and not the ETF’s market-price performance. If the Predecessor Fund had been structured as an ETF, its performance may have differed (for example, due to brokerage commissions, bid-ask spreads, and premiums/discounts to NAV). Effective October 6th, 2025, the Fund’s total annual operating expenses changed; returns for periods prior to that date reflect the Predecessor Fund’s expenses then in effect.

The “Net Asset Value” (NAV) of a Fund is determined at the close of each business day, and represents the dollar values of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding, investors should not expect to buy or sell shares at NAV.

About VanEck

VanEck has a history of looking beyond the financial markets to identify trends that are likely to create impactful investment opportunities. We were one of the first U.S. asset managers to offer investors access to international markets. This set the tone for the firm’s drive to identify asset classes and trends – including gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 – that subsequently shaped the investment management industry.

Today, VanEck offers active and passive strategies with compelling exposures supported by well-designed investment processes. As of August 31, 2026, VanEck managed approximately $246.4 billion in assets, including mutual funds, ETFs and institutional accounts. The firm’s capabilities range from core investment opportunities to more specialized exposures to enhance portfolio diversification. Our actively managed strategies are fueled by in-depth, bottom-up research and security selection from portfolio managers with direct experience in the sectors and regions in which they invest. Investability, liquidity, diversity, and transparency are key to the experienced decision-making around market and index selection underlying VanEck’s passive strategies.

Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission.

Important Disclosures

^* The Fund's benchmark index (50% GBI-EM/50% EMBI) is a blended index consisting of 50% J.P. Morgan Government Bond Index-Emerging Markets (GBI-EM) Global Diversified and 50% J.P. Morgan Emerging Markets Bond Index (EMBI).

The J.P. Morgan GBI-EM Global Diversified tracks local currency bonds issued by Emerging Markets governments.

The J.P. Morgan EMBI Global Diversified tracks returns for actively traded external debt instruments in emerging markets, and is also J.P. Morgan's most liquid U.S. dollar emerging markets debt benchmark.

The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. The information herein represents the opinion of the author(s), but not necessarily those of VanEck.

VanEck only serves professional clients in countries where the funds are registered or where funds can be sold in accordance with local private placement rules.

An investment in the VanEck Emerging Markets Bond ETF may be subject to risks which include, among others, risks related to active management, credit, credit-linked notes, currency management strategies, derivatives, emerging market issuers, ESG investing, foreign currency, foreign securities, hedging, high portfolio turnover, high yield securities, interest rate, market, non-diversified, operational, restricted securities, investing in other funds, sovereign bond, special risk considerations of investing in African, Asian, European and Latin American issuers, authorized participant concentration, no guarantee of active trading market, trading issues, fund shares trading, premium/discount and liquidity of fund shares, and cash transactions risks, all of which may adversely affect the Fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks.

Index information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The index may not be copied, used or distributed without J.P. Morgan’s written approval. Copyright 2025, J.P. Morgan Chase & Co. All rights reserved.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Performance information for the Fund reflects temporary waivers of expenses and/or fees. Had the Fund incurred all expenses, investment returns would have been reduced. Investment return and value of the shares of the Fund will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Performance current to the most recent month end is available by calling 800.826.2333 or on this web page.

On October 6th, 2025, the Fund converted from an open‑end mutual fund into an exchange‑traded fund (“ETF”). As part of the conversion, the Fund adopted the accounting and performance history of its predecessor mutual fund (the “Predecessor Fund”). Performance shown for periods prior to October 6th, 2025 reflects the NAV performance of the Predecessor Fund’s institutional share class ("Class I") and not the ETF’s market‑price performance. If the Predecessor Fund had been structured as an ETF, its performance may have differed (for example, due to brokerage commissions, bid‑ask spreads, and premiums/discounts to NAV). Effective October 6th, 2025, the Fund’s total annual operating expenses changed; returns for periods prior to that date reflect the Predecessor Fund’s expenses then in effect.

Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 800.826.2333 or visit vaneckcom/etfs Please read the prospectus and summary prospectus carefully before investing.

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