ETF Evaluator:
VanEck Alternative Asset Manager ETF ()
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(as of Aug 26)
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ETF Details
VanEck Alternative Asset Manager ETF Overview
VanEck Alternative Asset Manager ETF (GPZ) is a passively managed Sector Equity Financial exchange-traded fund (ETF). VanEck launched the ETF in 2025.
The investment seeks to track as closely as possible, before fees and expenses, the price and yield performance of the MarketVector™ Alternative Asset Managers Index.
The fund normally invests at least 80% of its total assets in securities that comprise the fund’s benchmark index. The index is composed of equity securities of companies in the alternative asset management industry. Alternative asset management companies are those with a significant portion of their revenue or operating assets from private equity and other alternative asset investing. The fund is non-diversified.
About VanEck Alternative Asset Manager ETF (GPZ)
There are 2 members of the management team with an average tenure of 1.16 years: Peter Liao (2025) and Griffin Driscoll (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: MarketVector Alt Asset Manager TR USD index with a weighting of 100%. VanEck Alternative Asset Manager ETF has 24 securities in its portfolio. The top 10 holdings constitute 70.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VanEck Alternative Asset Manager ETF is part of the Equity global asset class and is within the Sector Equity ETF group. VanEck Alternative Asset Manager ETF has 37.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.4% There is 37.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VanEck Alternative Asset Manager ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $242 million in total assets, which is below the $2 billion average for the Financial category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GPZ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VanEck Alternative Asset Manager ETF expense ratio is average compared to funds in the Financial category. VanEck Alternative Asset Manager ETF has an expense ratio of 0.40%, which is 74% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VanEck Alternative Asset Manager ETF has a portfolio turnover rate of 5%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 27% for the Financial category.
Recently, in the month of July 2026, VanEck Alternative Asset Manager ETF returned 8.3%, which earned it a grade of A, as the Financial category had an average return of 4.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VanEck Alternative Asset Manager ETF has a trailing yield of 0.97%, which is below the 3.85% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VanEck Alternative Asset Manager ETF Grades
Year to date, the ETF has returned -14.2%, 19.0 percentage points worse than the category, which translates into a grade of F. The fund has returned -16.8% over the past year (grade of F).
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GPZ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GPZ Return (NAV) | 8.3% | -0.9% | -16.8% | na | na | na |
| GPZ Return (Price) | 8.7% | -0.9% | -16.7% | na | na | na |
| NAV +/- Price Return | -0.385% | -0.044% | -0.170% | na | na | na |
| Financial Avg | 4.6% | 6.3% | 9.3% | 15.6% | 8.6% | 10.8% |
| GPZ Grade (NAV) | A | F | F | na | na | na |
| +/- Category (NAV) | 3.7% | -7.2% | -26.1% | na | na | na |
| GPZ Tax-Cost Ratio | na | na | 0.3% | na | na | na |
GPZ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GPZ Return (NAV) | -14.2% | na | na | na | na | na | na | na | na | na | na |
| GPZ Return (Price) | -14.2% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.004% | na | na | na | na | na | na | na | na | na | na |
| Financial Avg | 4.8% | 11.7% | 23.9% | 13.9% | -13.8% | 32.1% | -1.0% | 28.6% | -12.8% | 14.2% | 22.3% |
| GPZ Grade (NAV) | F | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -19.0% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 1.0% |
| Total Assets: | $ 243 Mil |
| Share Class Assets: | $ 243 Mil |
| Turnover: | 5.0% |
| Expense Ratio: | 0.40% |
| Index Fund: | Yes |
| Index Tracked: | MarketVector Alt Asset Manager TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.2 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Liao Peter (2025), Driscoll Griffin (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 24 |
| % in Top 10 Holdings: | 70.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 37.6% |
Portfolio Allocation |
|
| Domestic Stock: | 62.4% |
| Foreign Stock: | 37.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | VanEck |
| Phone Number: | 800-826-2333 |
| Website: | www.marketvectorsetfs.com |
| Inception Date: | June 4, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 1.52% |
