GLCN — VanEck Vectors ChinaAMC CSI 300 ETF
Data updated: 2023-08-16
GLCN — VanEck Vectors ChinaAMC CSI 300 ETF. China Blend / Core Equity · $13.87M AUM · 0.60% expense ratio. Holdings, fees, performance and SEC filings.
GLCN Fund Overview
GLCN — VanEck Vectors ChinaAMC CSI 300 ETF is a US ETF managed by VanEck ETF Trust, categorised as China Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: VanEck ETF Trust
- Category: China Blend / Core Equity
- Assets under management: $13.87M
- 1-year return: -27.2%
- Ticker: GLCN
- SEC CIK: 0001137360
- SEC series ID: S000025865
- Share class ID: C000077335
GLCN Investment Objective and Strategy
VanEck Vectors ChinaAMC CSI 300 ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by VanEck ETF Trust.
Investment objective
VanEck Vectors ChinaAMC CSI 300 ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the CSI 300 Index* (the CSI 300 Index). * The CSI 300 Index is a registered trademark of China Securities Index Co., Ltd.
Principal investment strategy
The Fund normally invests at least 80% of its total assets in securities that comprise the Funds benchmark index and/or in investments that have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise its benchmark index. The CSI 300 Index is comprised of the largest and most liquid stocks in the Chinese A-share market. As of December 31, 2017, the CSI 300 Index included 300 securities of companies with a market capitalization range of between approximately $2.4 billion and $256.3 billion and a weighted average market capitalization of $13.2 billion. These amounts are subject to change. The Funds 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days prior written notice to shareholders.
The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the CSI 300 Index by investing in a portfolio of securities that generally replicates the CSI 300 Index. Unlike many investment companies that try to beat the performance of a benchmark index, the Fund does not try to beat the CSI 300 Index and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing may eliminate the chance that the Fund will substantially outperform the CSI 300 Index but also may reduce some of the risks of active management, such as poor security selection. The CSI 300 Index is comprised of China A-shares (A-shares). The CSI 300 Index is a modified free-float market capitalization weighted index comprised of the largest and most liquid stocks in the Chinese A-share market.
Constituent stocks for the CSI 300 Index must have been listed for more than three months (unless the stocks average daily A-share market capitalization since its initial listing ranks among the top 30 of all A-shares) and must not be experiencing obvious abnormal fluctuations or market manipulation. The Fund will seek to achieve its investment objective by primarily investing directly in A-shares. A-shares are issued by companies incorporated in the Peoples Republic of China (China or the PRC). A-shares are traded in renminbi (RMB) on the Shenzhen or Shanghai Stock Exchanges. The A-share market in China is made available to domestic PRC investors and foreign investors through the Shanghai-Hong Kong Stock Connect Program and the Shenzhen-Hong Kong Stock Connect Program (together, Stock Connect), and through licenses obtained under the Renminbi Qualified Foreign Institutional Investor (RQFII) or Qualified Foreign Institutional Investor (QFII) programs.
After obtaining a RQFII or QFII license, the RQFII or QFII would obtain through Chinas State Administration of Foreign Exchange (SAFE) a specific aggregate dollar amount investment quota in which the RQFII or QFII can invest in A-shares. Investment companies are not currently within the types of entities that are eligible for a RQFII or QFII license. Because the Fund does not satisfy the criteria to qualify as a RQFII or QFII itself, the Fund intends to invest directly in A-shares via Stock Connect, as described below, or via the A-share quota granted to the Funds sub-adviser, China Asset Management (Hong Kong) Limited (the Sub-Adviser), by SAFE (RQFII quota). The Sub-Adviser has obtained RQFII status and has been granted an RQFII quota, which the Sub-Adviser will use to invest the portion of the Funds assets allocated to it by the Adviser in A-shares.
At such time that the Sub-Adviser has utilized its entire RQFII quota, the Sub-Adviser may, subject to applicable regulations, apply for an increase of the RQFII quota. Assets not allocated to the Sub-Adviser for investment directly in A-shares will be managed by the Adviser. The Fund may also invest in A-shares listed and traded on the Shanghai and Shenzhen Stock Exchanges through Stock Connect. Stock Connect is a securities trading and clearing program between the Shanghai and Shenzhen Stock Exchanges, the Stock Exchange of Hong Kong Limited, China Securities Depository and Clearing Corporation Limited (CSDCC) and Hong Kong Securities Clearing Company Limited (HKSCC) designed to permit mutual stock market access between mainland China and Hong Kong by allowing investors to trade and settle shares on each market via their local exchanges.
Other exchanges in China may participate in Stock Connect in the future. Trading through Stock Connect is subject to daily quotas that limit the maximum daily net purchases on any particular day. Accordingly, the Funds direct investments in A-shares will be limited by the quota allocated to the RQFII or QFII and by the daily quotas that limit total purchases and/or sales through Stock Connect. The Fund may also invest a portion of its assets in swaps, futures contracts and other types of derivative instruments that have economic characteristics that are substantially identical to the economic characteristics of A-shares, including swaps on the CSI 300 Index, swaps on the A-shares which comprise the CSI 300 Index and/or swaps on funds that seek to replicate the performance of the CSI 300 Index or funds that invest in A-shares or the Fund may invest directly in shares of such funds.
The notional values of these swaps, futures contracts and other derivative instruments will count towards the Funds 80% investment policy and cash and cash equivalents related to the swaps, futures contracts and other derivative instruments will not be counted towards the calculation of total assets. The Fund may also invest in exchange-traded funds (ETFs), including ETFs listed on a Hong Kong or other foreign exchange. The Fund may concentrate its investments in a particular industry or group of industries to the extent that the CSI 300 Index concentrates in an industry or group of industries. As of December 31, 2017, the Fund was concentrated in the financial services sector, and each of the consumer discretionary and industrials sectors represented a significant portion of the Fund.
GLCN Performance
Total returns for GLCN (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -27.2% |
| 3 years (annualised) | -11.5% |
GLCN Risk Information
Risk metrics for GLCN, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 30.6%
GLCN Costs and Fees
GLCN costs about $60 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.60%
- Gross expense ratio: 1.16%
- Portfolio turnover: 73%
- Brokerage commissions: 29.22 bps of average net assets (SEC N-CEN)
GLCN Cashflows
Over the 12 months to 2023-06, VanEck Vectors ChinaAMC CSI 300 ETF had net inflows of $0, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | $0 |
| 2023-05 | $0 |
| 2023-04 | $0 |
| 2023-03 | $0 |
| 2023-02 | $0 |
| 2023-01 | $0 |
GLCN Debt Constituents
No individual debt constituents are reported in VanEck Vectors ChinaAMC CSI 300 ETF's latest SEC N-PORT filing.
GLCN Prospectus and SEC Filings
Official VanEck Vectors ChinaAMC CSI 300 ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-04-27
- Prospectus (485BPOS) — filed 2022-04-25
- Prospectus (485BPOS) — filed 2021-04-28
- Portfolio holdings (N-PORT) — filed 2023-08-16
- Portfolio holdings (N-PORT) — filed 2023-05-30
- Portfolio holdings (N-PORT) — filed 2023-02-27
- Annual census (N-CEN) — filed 2023-03-13
- Annual census (N-CEN) — filed 2022-03-16
Related Funds
Other China Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.