This is a passive ETF that holds inflation-linked government bonds from developed markets such as the UK, France, and Canada, as well as emerging markets such as Brazil, Mexico, and Chile, based on market capitalization. It tracks the FTSE Emerging Markets Focused International Inflation-Linked Securities Index, with a significant portion of the index weight comprised of issuers from emerging markets.

It is suitable for investors who seek interest income linked to local inflation during inflationary periods and are willing to assume the currency and credit risks of emerging market bonds.

This is a passive (index-tracking) ETF managed by VanEck.

The ETF tracks the index performance by holding inflation-linked government bonds that constitute the index in proportion to their market capitalization. The index targets fixed-rate inflation-linked bonds issued by non-US governments, focuses on emerging market weight, and applies issuer weight caps. Rebalancing occurs on the last business day of each month.

• Principal and interest structure linked to local inflation
• A composition that complements developed markets with an emerging market focus
• Diversification across both currencies and inflation indices

AUM and total expense ratio data are not currently available. Please refer to the fund manager's fact sheet directly.

As it has not been listed for long, trading liquidity may not be substantial. While the fee is relatively low among bond ETFs, the bid-ask spread and average daily trading volume should be checked separately.

Since it has not been listed for long, the return history is short, and it is premature to discuss long-term performance. Future trends will be determined by emerging market real interest rates, local consumer prices, and the direction of local currencies against the US dollar. If interest rates and inflation diverge, the volatility of the principal may increase.

As global inflationary pressures continue, demand for alternatives to US inflation-linked bonds has increased. However, as it is a new product, the inception size is small, and capital inflows and redemptions directly impact liquidity.

The advantages include an interest structure linked to local inflation and real interest rate levels in emerging markets, while the drawbacks are exchange rate/credit risks and thin liquidity.

While this fund holds non-US inflation-linked bonds, if you wish to limit exposure to the US, it can be compared to US inflation-linked bond ETFs such as TIP and SCHP. If you seek returns from emerging market local currency bonds without inflation-linked mechanisms, products like EMLC are alternatives. Since there are no direct comparison targets in the same category yet, we recommend first selecting an asset class, and then evaluating regional and currency exposure, fees, and trading liquidity in that order. As this is a new product, actual distributions and tracking errors are items to be monitored over time.

This ETF may feel unfamiliar to investors who are not acquainted with inflation-linked bonds. As it is a relatively recently listed product, we recommend first checking its distribution performance, trading liquidity, and currency exposure.

Weakness in emerging market currencies and political or policy changes in issuing countries can shake returns. If real interest rates rise, bond prices fall, and if inflation comes in lower than expected, performance may lag behind nominal bonds. Since it is in the early stages of listing, liquidity and tracking error have not yet been fully verified.

This product serves as a complementary tool for investors who find US inflation-linked bonds insufficient. As the structure is exposed to emerging market real interest rates and local inflation, we recommend limiting it to a portion of your total assets and adjusting your allocation after verifying distribution performance and liquidity.