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SMB VanEck Short Muni ETF Please read important disclosure Close important disclosure Show More Show Less Compare false

SMB
VanEck Short Muni ETF

SMB
VanEck Short Muni ETF

  • NAV
    $17.24

    as of August 24, 2026
  • YTD RETURNS
    1.16%

    as of August 24, 2026
  • Total Net Assets
    $318.14M

    as of August 24, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.90%
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Overview

Why SMB

  • Federally Tax-Exempt IncomeProvides income generally exempt from federal taxes
  • Intermediate Duration FocusDesigned to track an index of short-duration municipal bonds to help mange interest rate risk
  • Investment-Grade QualityEmphasizes investment-grade municipal bonds with high overall credit quality

The VanEck Short Muni ETF (SMB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Short AMT-Free Broad National Municipal Index (MBNS), which is intended to track the overall performance of the U.S. dollar denominated short-term tax-exempt bond market.

Yields  as of  08/24/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.90%

Distribution Yield

3.03%

12 Month Yield

2.78%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Short Muni ETF would have been 2.90% on 08/24/26. Distributions may vary from time to time.

Performance

Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 02/22/08
SMB (NAV) -0.46 0.11 0.70 2.23 3.11 1.07 1.42 1.98
SMB (Market Price) -0.39 0.35 0.39 2.46 3.29 1.08 1.42 1.99
ICE Short AMT-Free Broad National Municipal Index -0.44 0.12 0.72 2.23 3.08 1.08 1.59 2.35
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 02/22/08
SMB (NAV) 0.33 0.92 1.16 3.29 3.33 1.25 1.49 2.02
SMB (Market Price) 0.47 0.99 0.78 3.26 3.50 1.21 1.49 2.02
ICE Short AMT-Free Broad National Municipal Index 0.34 0.91 1.17 3.27 3.30 1.27 1.67 2.39

*Returns less than one year are not annualized.

Index data prior to March 1, 2022 reflects that of the Bloomberg AMT-Free Short Continuous Municipal Index (LMT1TR). From March 1, 2022 to November 30, 2022, the index data reflects that of the ICE Short AMT-Free Broad National Municipal Transition Index (MSBT). From December 1, 2022 forward the index data reflects that of the Fund's underlying index the ICE Short AMT Free Broad National Municipal Index (MBNS) and is not intended for third party use.

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.

Holdings

Daily Holdings (%) as of 08/24/2026

Download XLS Get holdings
Total Holdings: 331
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.04
 5.000
07/15/2031
3,322,323
Charlotte-Mecklenburg Hospital Authorit
1.03
 5.000
01/15/2049
3,264,031
Indiana Finance Authority
1.03
 5.000
02/01/2032
3,263,837
State Of California
1.01
 5.000
04/01/2030
3,207,760
Southeast Energy Authority A Cooperativ
0.95
 4.000
12/01/2051
3,023,608
Commonwealth Of Massachusetts
0.93
 5.500
05/01/2031
2,962,974
State Of New Jersey
0.89
 5.500
06/01/2030
2,837,342
State Of California
0.86
 5.000
10/01/2031
2,721,002
Kansas Development Finance Authority
0.84
 5.000
11/15/2054
2,681,271
New York City Housing Development Corp
0.81
 3.950
11/01/2064
2,567,001
Commonwealth Of Massachusetts
0.79
 5.000
10/01/2031
2,524,568
California Statewide Communities Develo
0.75
 1.750
09/01/2029
2,382,037
Black Belt Energy Gas District
0.70
 4.000
10/01/2052
2,236,069
Massachusetts Water Resources Authority
0.69
 5.250
08/01/2030
2,197,061
Colorado Health Facilities Authority
0.69
 5.000
11/15/2060
2,181,009
Georgia State Road & Tollway Authority
0.68
 5.000
06/01/2032
2,167,286
State Of Connecticut
0.68
 3.000
01/15/2032
2,163,988
Main Street Natural Gas Inc
0.68
 5.000
05/01/2054
2,162,922
State Of Maryland
0.68
 5.000
03/15/2032
2,147,420
Main Street Natural Gas Inc
0.67
 5.000
04/01/2054
2,143,794
County Of King Wa
0.67
 4.000
07/01/2030
2,142,078
Tennessee Energy Acquisition Corp
0.67
 5.000
05/01/2052
2,118,402
City & County Of Honolulu Hi
0.66
 5.000
03/01/2031
2,113,724
California Community Choice Financing A
0.66
 5.500
05/01/2054
2,103,761
Texas Water Development Board
0.66
 5.500
10/15/2031
2,090,387
City Of Chicago Il
0.65
 5.000
01/01/2030
2,075,637
City Of Orlando Fl Tourist Development
0.65
 5.000
11/01/2031
2,075,021
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,056,476
Fort Bend Independent School District
0.64
 5.000
08/15/2030
2,042,147
Conroe Independent School District
0.64
 5.000
02/15/2027
2,026,265
State Of Georgia
0.64
 5.000
02/01/2032
2,025,364
State Of California
0.63
 5.000
04/01/2032
2,005,751
Los Angeles Unified School District/Ca
0.58
 5.000
07/01/2030
1,843,253
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,831,877
State Of Connecticut Special Tax Revenu
0.58
 5.000
05/01/2031
1,829,937
State Public School Building Authority
0.56
 5.000
06/01/2032
1,780,448
State Of California
0.53
 5.000
10/01/2031
1,689,050
State Of Maryland
0.52
 5.000
03/15/2031
1,643,952
New Jersey Educational Facilities Autho
0.52
 5.000
07/01/2064
1,639,227
Connecticut State Health & Educational
0.51
 5.000
07/01/2064
1,628,687
State Of North Carolina
0.51
 5.000
03/01/2030
1,616,704
Indiana Finance Authority
0.50
 4.250
11/01/2030
1,603,927
New York City Transitional Finance Auth
0.50
 4.000
11/01/2030
1,580,954
Wisconsin Health & Educational Faciliti
0.50
 5.000
02/15/2032
1,580,675
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,545,096
Pefa Inc
0.48
 5.000
09/01/2049
1,536,931
Main Street Natural Gas Inc
0.48
 4.000
03/01/2050
1,529,470
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,511,382
Kern High School District
0.46
 2.000
08/01/2031
1,473,843
Frisco Independent School District
0.44
 4.000
02/15/2032
1,387,017
State Of Ohio
0.43
 5.000
12/15/2031
1,362,833
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,355,107
County Of Allen Oh Hospital Facilities
0.42
 5.000
12/01/2029
1,341,713
State Of California
0.42
 5.000
08/01/2027
1,341,536
City Of Columbus Oh
0.42
 5.000
04/01/2031
1,338,788
Central Plains Energy Project
0.41
 5.000
09/01/2031
1,295,787
Main Street Natural Gas Inc
0.40
 4.000
07/01/2052
1,284,132
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,263,975
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,257,641
New York Transportation Development Cor
0.39
 5.000
12/01/2030
1,250,076
Kentucky Public Energy Authority
0.38
 4.000
08/01/2052
1,213,075
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,205,608
State Of North Carolina
0.38
 5.000
06/01/2031
1,200,151
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,174,730
State Of California
0.35
 5.000
09/01/2030
1,123,136
Detroit City School District
0.35
 5.250
05/01/2032
1,118,986
Minnesota Public Facilities Authority S
0.35
 5.500
03/01/2031
1,117,212
Triborough Bridge & Tunnel Authority
0.35
 5.000
11/15/2031
1,116,070
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,098,150
Commonwealth Of Massachusetts
0.34
 5.000
05/01/2030
1,097,054
Texas State Transportation Commission
0.34
 5.000
04/01/2030
1,095,876
State Of California
0.34
 5.000
10/01/2029
1,092,174
State Of Washington
0.34
 5.500
06/01/2031
1,088,247
Clark County School District
0.34
 5.000
06/15/2032
1,086,477
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,082,357
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,081,261
State Of Maryland
0.34
 5.000
03/15/2029
1,081,197
State Of California
0.34
 5.000
09/01/2028
1,076,193
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,073,952
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,072,971
Main Street Natural Gas Inc
0.34
 5.500
09/01/2053
1,072,054
New York City Municipal Water Finance A
0.34
 5.000
06/15/2032
1,071,625
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,071,397
State Of North Carolina
0.34
 5.000
05/01/2031
1,070,796
City Of Houston Tx
0.34
 5.000
03/01/2032
1,069,757
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,068,617
Main Street Natural Gas Inc
0.34
 5.500
07/01/2053
1,068,311
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,068,217
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,068,190
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,067,575
City Of New York Ny
0.34
 5.000
08/01/2029
1,066,839
Board Of Regents Of The University Of T
0.34
 5.000
08/15/2029
1,066,145
Denton Independent School District
0.34
 5.000
08/15/2029
1,065,850
Southeast Alabama Gas Supply District/T
0.33
 5.500
08/01/2054
1,063,070
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2028
1,062,316
County Of Allen Oh Hospital Facilities
0.33
 5.000
08/01/2030
1,061,536
Minneapolis-St Paul Metropolitan Airpor
0.33
 5.000
01/01/2029
1,060,894
State Of Louisiana
0.33
 5.000
02/01/2029
1,060,234
New Jersey Health Care Facilities Finan
0.33
 5.000
07/01/2031
1,058,747
New York City Transitional Finance Auth
0.33
 5.000
07/15/2031
1,056,868
University Of Connecticut
0.33
 5.000
04/15/2029
1,056,497
Texas Municipal Gas Acquisition & Suppl
0.33
 5.500
01/01/2054
1,055,166
State Of California
0.33
 5.000
09/01/2027
1,051,048
State Of California
0.33
 5.000
10/01/2027
1,049,051
Commonwealth Of Pennsylvania
0.33
 5.000
09/01/2027
1,048,708
City Of New York Ny
0.33
 5.000
09/01/2027
1,048,200
City Of New York Ny
0.33
 5.000
09/01/2027
1,048,200
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,047,062
State Of California
0.33
 5.000
11/01/2028
1,046,767
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,046,150
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,044,299
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,042,797
State Of Illinois
0.33
 5.000
11/01/2027
1,041,822
County Of Baltimore Md
0.33
 5.000
03/01/2030
1,040,945
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,040,578
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,038,324
Tobacco Settlement Financing Corp
0.33
 5.000
06/01/2032
1,037,904
University Of Minnesota
0.33
 5.000
12/01/2031
1,037,690
Energy Northwest
0.32
 --
07/01/2027
1,033,507
New Jersey Educational Facilities Autho
0.32
 5.000
07/01/2028
1,028,832
New York State Dormitory Authority
0.32
 5.000
08/01/2030
1,028,596
Hillsboro School District No 1j
0.32
 5.000
06/15/2031
1,027,841
Commonwealth Of Pennsylvania
0.32
 5.000
07/15/2027
1,026,986
State Of California
0.32
 5.000
09/01/2026
1,024,723
West Virginia Commissioner Of Highways
0.32
 5.000
09/01/2026
1,024,665
County Of Harris Tx Toll Road Revenue
0.32
 5.000
08/15/2027
1,024,174
San Francisco City & County Public Util
0.32
 5.500
10/01/2026
1,022,714
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,022,531
Louisville/Jefferson County Metropolita
0.32
 5.000
10/01/2047
1,022,398
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,019,366
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,018,253
Metropolitan Council
0.32
 5.500
12/01/2026
1,018,213
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,017,112
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,016,150
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,016,117
California State Public Works Board
0.32
 4.000
11/01/2031
1,013,891
Long Island Power Authority
0.32
 5.500
09/01/2055
1,013,783
New York City Housing Development Corp
0.32
 5.500
11/01/2064
1,012,443
State Of Connecticut
0.32
 3.000
06/01/2029
1,010,927
State Of Hawaii
0.32
 3.000
10/01/2029
1,008,689
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,008,269
State Of Minnesota
0.32
 3.000
10/01/2030
1,007,333
New York City Housing Development Corp
0.32
 3.125
11/01/2065
1,006,775
California Community Choice Financing A
0.32
 4.000
02/01/2052
1,006,073
State Of Florida
0.32
 3.000
06/01/2030
1,005,265
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,004,411
New York City Housing Development Corp
0.32
 3.150
05/01/2066
1,003,133
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
982,055
State Of California
0.31
 5.000
11/01/2028
975,073
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
954,164
Board Of Regents Of The University Of T
0.30
 5.000
08/15/2031
953,832
State Of California Department Of Water
0.30
 5.000
12/01/2031
952,034
New York State Dormitory Authority
0.30
 5.000
02/15/2032
943,028
Fort Bend Independent School District
0.30
 5.000
02/15/2028
942,316
Collin County Community College Distric
0.29
 4.000
08/15/2031
933,514
State Of Washington
0.28
 5.000
08/01/2031
902,528
Beverly Hills Unified School District C
0.28
 --
08/01/2030
895,350
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
881,442
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
863,577
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
861,713
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
859,169
California State Public Works Board
0.27
 5.000
10/01/2026
848,760
Public Finance Authority
0.26
 4.000
10/01/2041
835,037
State Of Louisiana
0.26
 5.000
03/01/2032
831,579
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
830,552
California State Public Works Board
0.26
 5.000
10/01/2028
822,370
State Of California
0.26
 5.000
10/01/2030
818,417
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
817,007
State Of Illinois
0.26
 5.000
11/01/2026
816,023
State Of North Carolina
0.25
 3.000
05/01/2031
792,812
County Of Fairfax Va
0.25
 5.000
10/01/2031
790,377
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
786,665
City Of Columbus Oh
0.25
 5.500
04/01/2029
785,201
California Health Facilities Financing
0.25
 5.000
11/15/2031
781,329
County Of Montgomery Md
0.25
 4.000
08/01/2029
781,188
State Of California
0.24
 5.000
04/01/2027
776,838
State Of Maryland Department Of Transpo
0.24
 4.000
05/01/2030
773,478
University Of Connecticut
0.24
 5.000
01/15/2030
755,777
Regional Transportation Authority
0.24
 5.000
07/01/2028
751,955
Energy Northwest
0.23
 5.000
07/01/2028
745,348
New Jersey Economic Development Authori
0.23
 3.125
07/01/2031
743,884
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
738,156
Virginia Public Building Authority
0.23
 5.000
08/01/2029
738,079
California State Public Works Board
0.23
 5.000
11/01/2029
735,451
City Of South Miami Health Facilities A
0.23
 5.000
08/15/2029
725,534
New York State Urban Development Corp
0.22
 5.000
03/15/2027
715,051
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,993
City Of New York Ny
0.22
 5.000
04/01/2032
700,023
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
691,932
State Of Illinois
0.22
 3.500
06/01/2029
690,746
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
685,217
Pennsylvania Housing Finance Agency
0.21
 2.800
10/01/2031
678,024
New York State Dormitory Authority
0.21
 5.000
03/15/2028
677,979
New Jersey Health Care Facilities Finan
0.21
 5.000
07/01/2029
677,558
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
666,025
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
660,223
King County School District No 411 Issa
0.20
 4.000
12/01/2031
641,404
New York State Environmental Facilities
0.20
 5.000
06/15/2028
638,660
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
633,440
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
633,273
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
633,167
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
625,985
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
618,809
City Of Dallas Tx Waterworks & Sewer Sy
0.19
 5.000
10/01/2031
613,364
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
609,249
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,503
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
608,369
State Of North Carolina
0.19
 5.000
05/01/2029
603,203
New York State Dormitory Authority
0.19
 5.000
02/15/2032
601,878
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
597,315
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
577,642
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
575,929
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
569,122
State Of California
0.17
 5.000
10/01/2027
555,997
Salt River Project Agricultural Improve
0.17
 5.000
01/01/2032
555,448
New York State Dormitory Authority
0.17
 5.000
03/15/2030
550,995
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
550,190
Utah Transit Authority
0.17
 5.000
12/15/2030
549,942
City Of New York Ny
0.17
 5.000
11/01/2030
548,736
Utah Transit Authority
0.17
 5.000
06/15/2030
545,166
County Of Jefferson Al
0.17
 5.000
09/15/2028
543,327
City Of New York Ny
0.17
 5.000
08/01/2030
542,883
Southeast Energy Authority A Cooperativ
0.17
 5.500
10/01/2030
541,436
Rutherford Cty Health & Edu Fac Brd
0.17
 5.500
11/15/2048
541,065
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
541,045
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
539,605
City Of New York Ny
0.17
 5.500
10/01/2031
539,190
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
538,339
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
537,832
City Of Houston Tx
0.17
 5.500
03/01/2032
537,639
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
537,412
California Community Choice Financing A
0.17
 5.250
01/01/2054
536,281
City Of San Francisco Ca Public Utiliti
0.17
 5.500
11/01/2028
536,083
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
535,215
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
535,134
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
534,828
Shelby County Health Educational & Hous
0.17
 5.500
09/01/2049
533,976
California Community Choice Financing A
0.17
 5.000
02/01/2054
533,165
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
531,595
State Of Maryland
0.17
 5.000
03/15/2028
530,838
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
530,509
Austin Independent School District
0.17
 5.000
08/01/2028
529,558
Arizona Industrial Development Authorit
0.17
 5.500
11/01/2028
525,582
State Of California
0.16
 5.000
10/01/2027
524,526
California Health Facilities Financing
0.16
 5.000
11/01/2027
524,066
Grand River Dam Authority
0.16
 5.000
06/01/2031
524,002
Main Street Natural Gas Inc
0.16
 5.000
12/01/2052
523,851
Minneapolis-St Paul Metropolitan Airpor
0.16
 5.000
01/01/2030
523,032
Long Island Power Authority
0.16
 5.000
09/01/2026
522,597
Triborough Bridge & Tunnel Authority
0.16
 5.000
11/15/2027
522,211
State Of Michigan Trunk Line Revenue
0.16
 5.000
11/15/2027
522,149
Virginia Commonwealth Transportation Bo
0.16
 5.000
03/15/2027
522,042
County Of Miami-Dade Fl
0.16
 5.000
10/01/2029
521,406
Illinois Finance Authority
0.16
 5.000
01/01/2028
519,795
Tobacco Settlement Financing Corp
0.16
 5.000
06/01/2031
519,655
Tennessee Energy Acquisition Corp
0.16
 5.000
05/01/2053
519,299
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
518,541
New York State Urban Development Corp
0.16
 5.000
03/15/2027
518,153
State Of Maryland
0.16
 5.000
03/15/2028
518,141
Montgomery County Industrial Developmen
0.16
 5.500
10/01/2053
516,700
University Of Colorado
0.16
 4.000
06/01/2034
516,687
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,575
New York State Dormitory Authority
0.16
 5.000
02/15/2027
516,562
American Municipal Power Inc
0.16
 5.000
02/15/2028
516,364
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2031
516,109
Lower Colorado River Authority
0.16
 5.500
05/15/2027
515,919
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2032
515,452
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
514,545
Butler County Unified School District N
0.16
 4.000
09/01/2030
514,485
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
514,034
Tennessee Energy Acquisition Corp
0.16
 5.625
09/01/2026
513,827
City Of New York Ny
0.16
 5.000
08/01/2027
512,691
California State Public Works Board
0.16
 5.000
09/01/2026
512,357
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
512,125
New Jersey Health Care Facilities Finan
0.16
 5.500
09/15/2026
511,795
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
510,114
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
509,728
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
509,593
County Of Cook Il
0.16
 5.000
11/15/2028
509,495
City Of Forsyth Mt
0.16
 3.875
07/01/2028
509,421
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
509,079
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
508,528
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,399
State Of Colorado
0.16
 5.000
12/15/2026
508,322
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
508,057
North Texas Tollway Authority
0.16
 5.000
01/01/2027
507,652
East County Advanced Water Purification
0.16
 3.125
09/01/2026
507,578
Michigan State Housing Development Auth
0.16
 5.500
04/01/2030
507,244
New York State Housing Finance Agency
0.16
 5.500
11/01/2063
506,563
New York State Dormitory Authority
0.16
 5.000
02/15/2027
506,434
California Community Choice Financing A
0.16
 4.000
05/01/2053
506,323
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
506,231
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
506,220
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
506,049
County Of Bexar Tx
0.16
 5.000
06/15/2027
505,798
California State University
0.16
 3.125
11/01/2051
505,394
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
504,801
Maryland Community Development Administ
0.16
 3.300
01/01/2029
504,442
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
503,626
State Of Maryland Department Of Transpo
0.16
 3.000
09/01/2031
502,647
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
502,515
California State Public Works Board
0.16
 3.000
09/01/2031
497,124
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
495,701
City Of San Antonio Tx Electric & Gas S
0.15
 3.150
02/01/2055
492,864
County Of Miami-Dade Fl
0.15
 --
10/01/2031
461,451
New York City Transitional Finance Auth
0.14
 5.000
11/01/2027
459,612
State Of Mississippi
0.14
 5.000
10/01/2029
449,783
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
441,301
Pennsylvania Housing Finance Agency
0.14
 3.200
10/01/2031
429,964
City Of New York Ny
0.13
 5.000
03/01/2027
424,886
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,527
State Of Michigan
0.13
 3.000
05/01/2030
410,223
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
409,021
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
386,081
County Of Wake Nc
0.12
 5.000
09/01/2026
384,260
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
381,495
University Of Utah/The
0.12
 5.000
08/01/2031
373,055
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
371,978
City Of Chicago Il
0.12
 5.000
01/01/2027
369,472
Canadian County Educational Facilities
0.10
 3.000
09/01/2029
332,473
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
326,467
Long Island Power Authority
0.10
 5.000
09/01/2031
318,652
California Health Facilities Financing
0.10
 5.000
08/15/2031
311,000
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
275,108
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
265,239
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
265,232
Texas Water Development Board
0.08
 5.000
04/15/2030
261,029
County Of Mecklenburg Nc
0.07
 2.000
12/01/2030
236,793
State Public School Building Authority
0.06
 5.000
06/01/2029
203,265
Jea Electric System Revenue
0.04
 5.000
10/01/2029
114,877
--
0.22
 --
--
715,625
Other/Cash
-0.02
 --
--
-55,557
← Scroll for more information →
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

Sector Weightings (%) as at 07/31/2026

  • Sector

    % of Net Assets

  • State GO

    18.20

  • Local GO

    14.27

  • Tax

    10.35

  • Utilities - Other

    10.18

  • Hospitals

    7.00

  • Power

    6.55

  • Education

    6.20

  • Water & Sewer

    5.50

  • Leasing COPS & Appropriations

    4.86

  • Transportation

    4.47

  • Refunded

    3.29

  • Multi-Family Housing

    2.51

  • Toll & Turnpike

    2.07

  • Airport

    1.02

  • Misc

    0.94

  • Pollution Control

    0.92

  • Single Family Housing

    0.67

  • Industrial Development Revenue

    0.40

  • Unassigned

    0.26

  • Tobacco

    0.17

  • Health

    0.16

Credit Quality (%) as of 07/31/2026

Composite % of Net Assets
Investment Grade AAA 18.44
AA 48.87
A 20.74
BBB 4.31
Total Investment Grade -- 92.37
Not Rated -- 7.63
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Years to Maturity as at 07/31/2026

  • Years

    Maturity (%)

  • < 1

    15.70

  • 1 - 3

    21.20

  • 3 - 5

    37.90

  • 5 - 7

    25.30

  • 7 - 10

    0.00

  • 10 - 15

    0.00

  • 15 - 20

    0.00

  • 20 - 30

    0.00

  • 30 +

    0.00

Fees

Distributions

Distribution History

Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains
Ex-date Record Date Payable date Dividend
Income‡ 		Short-Term
Capital Gains 		Long-Term
Capital Gains 		Return of
Capital 		Total
Distributions
08/03/2026 08/03/2026 08/06/2026 $ 0.0435 -- -- -- $ 0.04
07/01/2026 07/01/2026 07/07/2026 $ 0.0467 -- -- -- $ 0.05
06/01/2026 06/01/2026 06/04/2026 $ 0.0356 -- -- -- $ 0.04
05/01/2026 05/01/2026 05/06/2026 $ 0.0387 -- -- -- $ 0.04
04/01/2026 04/01/2026 04/07/2026 $ 0.0458 -- -- -- $ 0.05
03/02/2026 03/02/2026 03/05/2026 $ 0.0356 -- -- -- $ 0.04
02/02/2026 02/02/2026 02/05/2026 $ 0.0398 -- -- -- $ 0.04
12/29/2025 12/29/2025 12/31/2025 $ 0.0405 -- -- -- $ 0.04
11/28/2025 11/28/2025 12/03/2025 $ 0.0372 -- -- -- $ 0.04
11/03/2025 11/03/2025 11/06/2025 $ 0.0405 -- -- -- $ 0.04
10/01/2025 10/01/2025 10/06/2025 $ 0.0371 -- -- -- $ 0.04
09/02/2025 09/02/2025 09/05/2025 $ 0.0389 -- -- -- $ 0.04
08/01/2025 08/01/2025 08/06/2025 $ 0.0402 -- -- -- $ 0.04
07/01/2025 07/01/2025 07/07/2025 $ 0.0368 -- -- -- $ 0.04
06/02/2025 06/02/2025 06/05/2025 $ 0.0384 -- -- -- $ 0.04
05/01/2025 05/01/2025 05/06/2025 $ 0.0356 -- -- -- $ 0.04
04/01/2025 04/01/2025 04/04/2025 $ 0.0432 -- -- -- $ 0.04
03/03/2025 03/03/2025 03/06/2025 $ 0.0325 -- -- -- $ 0.03
02/03/2025 02/03/2025 02/06/2025 $ 0.0366 -- -- -- $ 0.04
12/27/2024 12/27/2024 12/30/2024 $ 0.0368 -- -- -- $ 0.04
12/02/2024 12/02/2024 12/05/2024 $ 0.0340 -- -- -- $ 0.03
11/01/2024 11/01/2024 11/06/2024 $ 0.0372 -- -- -- $ 0.04
10/01/2024 10/01/2024 10/04/2024 $ 0.0344 -- -- -- $ 0.03
09/03/2024 09/03/2024 09/06/2024 $ 0.0347 -- -- -- $ 0.03
08/01/2024 08/01/2024 08/06/2024 $ 0.0368 -- -- -- $ 0.04
07/01/2024 07/01/2024 07/05/2024 $ 0.0329 -- -- -- $ 0.03
06/03/2024 06/03/2024 06/06/2024 $ 0.0250 -- -- -- $ 0.03
05/01/2024 05/02/2024 05/07/2024 $ 0.0300 -- -- -- $ 0.03
04/01/2024 04/02/2024 04/05/2024 $ 0.0442 -- -- -- $ 0.04
03/01/2024 03/04/2024 03/07/2024 $ 0.0292 -- -- -- $ 0.03
02/01/2024 02/02/2024 02/07/2024 $ 0.0315 -- -- -- $ 0.03
12/27/2023 12/28/2023 12/29/2023 $ 0.0314 -- -- -- $ 0.03
12/01/2023 12/04/2023 12/07/2023 $ 0.0274 -- -- -- $ 0.03
11/01/2023 11/02/2023 11/07/2023 $ 0.0300 -- -- -- $ 0.03
10/02/2023 10/03/2023 10/06/2023 $ 0.0269 -- -- -- $ 0.03
09/01/2023 09/05/2023 09/08/2023 $ 0.0245 -- -- -- $ 0.02
08/01/2023 08/02/2023 08/10/2023 $ 0.0312 -- -- -- $ 0.03
07/03/2023 07/05/2023 07/07/2023 $ 0.0240 -- -- -- $ 0.02
06/01/2023 06/02/2023 06/07/2023 $ 0.0246 -- -- -- $ 0.02
05/01/2023 05/02/2023 05/05/2023 $ 0.0219 -- -- -- $ 0.02
04/03/2023 04/04/2023 04/10/2023 $ 0.0297 -- -- -- $ 0.03
03/01/2023 03/02/2023 03/07/2023 $ 0.0185 -- -- -- $ 0.02
02/01/2023 02/02/2023 02/07/2023 $ 0.0227 -- -- -- $ 0.02
12/28/2022 12/29/2022 12/30/2022 $ 0.0231 -- -- -- $ 0.02
12/01/2022 12/02/2022 12/07/2022 $ 0.0197 -- -- -- $ 0.02
11/01/2022 11/02/2022 11/07/2022 $ 0.0215 -- -- -- $ 0.02
10/03/2022 10/04/2022 10/07/2022 $ 0.0180 -- -- -- $ 0.02
09/01/2022 09/02/2022 09/08/2022 $ 0.0191 -- -- -- $ 0.02
08/01/2022 08/02/2022 08/05/2022 $ 0.0205 -- -- -- $ 0.02
07/01/2022 07/05/2022 07/08/2022 $ 0.0204 -- -- -- $ 0.02
06/01/2022 06/02/2022 06/07/2022 $ 0.0166 -- -- -- $ 0.02
05/02/2022 05/03/2022 05/06/2022 $ 0.0172 -- -- -- $ 0.02
04/01/2022 04/04/2022 04/07/2022 $ 0.0178 -- -- -- $ 0.02
03/01/2022 03/02/2022 03/07/2022 $ 0.0131 -- -- -- $ 0.01
02/01/2022 02/02/2022 02/07/2022 $ 0.0151 -- -- -- $ 0.02
12/29/2021 12/30/2021 12/31/2021 $ 0.0169 $ 0.0018 $ 0.0226 -- $ 0.04
12/01/2021 12/02/2021 12/07/2021 $ 0.0142 -- -- -- $ 0.01
11/01/2021 11/02/2021 11/05/2021 $ 0.0168 -- -- -- $ 0.02
10/01/2021 10/04/2021 10/07/2021 $ 0.0143 -- -- -- $ 0.01
09/01/2021 09/02/2021 09/08/2021 $ 0.0159 -- -- -- $ 0.02
08/02/2021 08/03/2021 08/06/2021 $ 0.0175 -- -- -- $ 0.02
07/01/2021 07/02/2021 07/08/2021 $ 0.0162 -- -- -- $ 0.02
06/01/2021 06/02/2021 06/07/2021 $ 0.0177 -- -- -- $ 0.02
05/03/2021 05/04/2021 05/07/2021 $ 0.0167 -- -- -- $ 0.02
04/01/2021 04/05/2021 04/08/2021 $ 0.0189 -- -- -- $ 0.02
03/01/2021 03/02/2021 03/05/2021 $ 0.0148 -- -- -- $ 0.01
02/01/2021 02/02/2021 02/05/2021 $ 0.0178 -- -- -- $ 0.02
12/29/2020 12/30/2020 01/05/2021 $ 0.0222 -- -- -- $ 0.02
12/01/2020 12/02/2020 12/07/2020 $ 0.0199 -- -- -- $ 0.02
11/02/2020 11/03/2020 11/06/2020 $ 0.0232 -- -- -- $ 0.02
10/01/2020 10/02/2020 10/07/2020 $ 0.0207 -- -- -- $ 0.02
09/01/2020 09/02/2020 09/08/2020 $ 0.0226 -- -- -- $ 0.02
08/03/2020 08/04/2020 08/07/2020 $ 0.0248 -- -- -- $ 0.02
07/01/2020 07/02/2020 07/08/2020 $ 0.0216 -- -- -- $ 0.02
06/01/2020 06/02/2020 06/05/2020 $ 0.0245 -- -- -- $ 0.02
05/01/2020 05/04/2020 05/07/2020 $ 0.0236 -- -- -- $ 0.02
04/01/2020 04/02/2020 04/07/2020 $ 0.0244 -- -- -- $ 0.02
03/02/2020 03/03/2020 03/06/2020 $ 0.0212 -- -- -- $ 0.02
02/03/2020 02/04/2020 02/07/2020 $ 0.0234 -- -- -- $ 0.02
12/30/2019 12/31/2019 01/06/2020 $ 0.0247 -- -- -- $ 0.02
12/02/2019 12/03/2019 12/06/2019 $ 0.0240 -- -- -- $ 0.02
11/01/2019 11/04/2019 11/07/2019 $ 0.0233 -- -- -- $ 0.02
10/01/2019 10/02/2019 10/07/2019 $ 0.0226 -- -- -- $ 0.02
09/03/2019 09/04/2019 09/09/2019 $ 0.0236 -- -- -- $ 0.02
08/01/2019 08/02/2019 08/07/2019 $ 0.0238 -- -- -- $ 0.02
07/01/2019 07/02/2019 07/08/2019 $ 0.0231 -- -- -- $ 0.02
06/03/2019 06/04/2019 06/07/2019 $ 0.0227 -- -- -- $ 0.02
05/01/2019 05/02/2019 05/07/2019 $ 0.0233 -- -- -- $ 0.02
04/01/2019 04/02/2019 04/05/2019 $ 0.0240 -- -- -- $ 0.02
03/01/2019 03/04/2019 03/07/2019 $ 0.0220 -- -- -- $ 0.02
02/01/2019 02/04/2019 02/07/2019 $ 0.0240 -- -- -- $ 0.02
12/27/2018 12/28/2018 01/03/2019 $ 0.0237 -- -- -- $ 0.02
12/03/2018 12/04/2018 12/07/2018 $ 0.0224 -- -- -- $ 0.02
11/01/2018 11/02/2018 11/07/2018 $ 0.0228 -- -- -- $ 0.02
10/01/2018 10/02/2018 10/05/2018 $ 0.0221 -- -- -- $ 0.02
09/04/2018 09/05/2018 09/10/2018 $ 0.0224 -- -- -- $ 0.02
08/01/2018 08/02/2018 08/07/2018 $ 0.0223 -- -- -- $ 0.02
07/02/2018 07/03/2018 07/09/2018 $ 0.0223 -- -- -- $ 0.02
06/01/2018 06/04/2018 06/07/2018 $ 0.0223 -- -- -- $ 0.02
05/01/2018 05/02/2018 05/07/2018 $ 0.0200 -- -- -- $ 0.02
04/02/2018 04/03/2018 04/06/2018 $ 0.0203 -- -- -- $ 0.02
03/01/2018 03/02/2018 03/07/2018 $ 0.0178 -- -- -- $ 0.02
02/01/2018 02/02/2018 02/07/2018 $ 0.0198 -- -- -- $ 0.02
12/27/2017 12/28/2017 01/03/2018 $ 0.0188 -- -- -- $ 0.02
12/01/2017 12/04/2017 12/07/2017 $ 0.0178 -- -- -- $ 0.02
11/01/2017 11/02/2017 11/07/2017 $ 0.0183 -- -- -- $ 0.02
10/02/2017 10/03/2017 10/06/2017 $ 0.0175 -- -- -- $ 0.02
09/01/2017 09/06/2017 09/08/2017 $ 0.0179 -- -- -- $ 0.02
08/01/2017 08/03/2017 08/07/2017 $ 0.0178 -- -- -- $ 0.02
07/03/2017 07/06/2017 07/10/2017 $ 0.0175 -- -- -- $ 0.02
06/01/2017 06/05/2017 06/07/2017 $ 0.0188 -- -- -- $ 0.02
05/01/2017 05/03/2017 05/05/2017 $ 0.0171 -- -- -- $ 0.02
04/03/2017 04/05/2017 04/07/2017 $ 0.0177 -- -- -- $ 0.02
03/01/2017 03/03/2017 03/07/2017 $ 0.0153 -- -- -- $ 0.02
02/01/2017 02/03/2017 02/07/2017 $ 0.0170 -- -- -- $ 0.02
12/28/2016 12/30/2016 01/04/2017 $ 0.0166 -- -- -- $ 0.02
12/01/2016 12/05/2016 12/07/2016 $ 0.0154 -- -- -- $ 0.02
11/01/2016 11/03/2016 11/07/2016 $ 0.0155 -- -- -- $ 0.02
10/03/2016 10/05/2016 10/07/2016 $ 0.0155 -- -- -- $ 0.02
09/01/2016 09/06/2016 09/08/2016 $ 0.0160 -- -- -- $ 0.02
08/01/2016 08/03/2016 08/05/2016 $ 0.0160 -- -- -- $ 0.02
07/01/2016 07/06/2016 07/08/2016 $ 0.0160 -- -- -- $ 0.02
06/01/2016 06/03/2016 06/07/2016 $ 0.0168 -- -- -- $ 0.02
05/02/2016 05/04/2016 05/06/2016 $ 0.0163 -- -- -- $ 0.02
04/01/2016 04/05/2016 04/07/2016 $ 0.0168 -- -- -- $ 0.02
03/01/2016 03/03/2016 03/07/2016 $ 0.0158 -- -- -- $ 0.02
02/01/2016 02/03/2016 02/05/2016 $ 0.0170 -- -- -- $ 0.02
12/29/2015 12/31/2015 01/05/2016 $ 0.0170 -- -- -- $ 0.02
12/01/2015 12/03/2015 12/07/2015 $ 0.0164 -- -- -- $ 0.02
11/02/2015 11/04/2015 11/06/2015 $ 0.0175 -- -- -- $ 0.02
10/01/2015 10/05/2015 10/07/2015 $ 0.0168 -- -- -- $ 0.02
09/01/2015 09/03/2015 09/08/2015 $ 0.0167 -- -- -- $ 0.02
08/03/2015 08/05/2015 08/07/2015 $ 0.0165 -- -- -- $ 0.02
07/01/2015 07/06/2015 07/08/2015 $ 0.0162 -- -- -- $ 0.02
06/01/2015 06/03/2015 06/05/2015 $ 0.0166 -- -- -- $ 0.02
05/01/2015 05/05/2015 05/07/2015 $ 0.0160 -- -- -- $ 0.02
04/01/2015 04/06/2015 04/08/2015 $ 0.0166 -- -- -- $ 0.02
03/02/2015 03/04/2015 03/06/2015 $ 0.0150 -- -- -- $ 0.01
02/02/2015 02/04/2015 02/06/2015 $ 0.0169 -- -- -- $ 0.02
12/29/2014 12/31/2014 01/05/2015 $ 0.0169 -- -- -- $ 0.02
12/01/2014 12/03/2014 12/05/2014 $ 0.0160 -- -- -- $ 0.02
11/03/2014 11/05/2014 11/07/2014 $ 0.0171 -- -- -- $ 0.02
10/01/2014 10/03/2014 10/07/2014 $ 0.0162 -- -- -- $ 0.02
09/02/2014 09/04/2014 09/08/2014 $ 0.0174 -- -- -- $ 0.02
08/01/2014 08/05/2014 08/07/2014 $ 0.0175 -- -- -- $ 0.02
07/01/2014 07/03/2014 07/08/2014 $ 0.0169 -- -- -- $ 0.02
06/02/2014 06/04/2014 06/06/2014 $ 0.0178 -- -- -- $ 0.02
05/01/2014 05/05/2014 05/07/2014 $ 0.0180 -- -- -- $ 0.02
04/01/2014 04/03/2014 04/07/2014 $ 0.0184 -- -- -- $ 0.02
03/03/2014 03/05/2014 03/07/2014 $ 0.0202 -- -- -- $ 0.02
02/03/2014 02/05/2014 02/07/2014 $ 0.0205 -- -- -- $ 0.02
12/27/2013 12/31/2013 01/03/2014 $ 0.0209 -- -- -- $ 0.02
12/02/2013 12/04/2013 12/06/2013 $ 0.0203 -- -- -- $ 0.02
11/01/2013 11/05/2013 11/07/2013 $ 0.0232 -- -- -- $ 0.02
10/01/2013 10/03/2013 10/07/2013 $ 0.0198 -- -- -- $ 0.02
09/03/2013 09/05/2013 09/09/2013 $ 0.0204 -- -- -- $ 0.02
08/01/2013 08/05/2013 08/07/2013 $ 0.0194 -- -- -- $ 0.02
07/01/2013 07/03/2013 07/08/2013 $ 0.0195 -- -- -- $ 0.02
06/03/2013 06/05/2013 06/07/2013 $ 0.0200 -- -- -- $ 0.02
05/01/2013 05/03/2013 05/07/2013 $ 0.0200 -- -- -- $ 0.02
04/01/2013 04/03/2013 04/05/2013 $ 0.0204 -- -- -- $ 0.02
03/01/2013 03/05/2013 03/07/2013 $ 0.0186 -- -- -- $ 0.02
02/01/2013 02/05/2013 02/07/2013 $ 0.0202 -- -- -- $ 0.02
12/27/2012 12/31/2012 01/03/2013 $ 0.0213 -- $ 0.0110 -- $ 0.03
12/03/2012 12/05/2012 12/07/2012 $ 0.0205 -- -- -- $ 0.02
11/01/2012 11/05/2012 11/07/2012 $ 0.0210 -- -- -- $ 0.02
10/01/2012 10/03/2012 10/05/2012 $ 0.0213 -- -- -- $ 0.02
09/04/2012 09/07/2012 09/10/2012 $ 0.0226 -- -- -- $ 0.02
08/01/2012 08/03/2012 08/07/2012 $ 0.0234 -- -- -- $ 0.02
07/02/2012 07/05/2012 07/09/2012 $ 0.0233 -- -- -- $ 0.02
06/01/2012 06/05/2012 06/07/2012 $ 0.0245 -- -- -- $ 0.02
05/01/2012 05/03/2012 05/07/2012 $ 0.0243 -- -- -- $ 0.02
04/02/2012 04/04/2012 04/09/2012 $ 0.0258 -- -- -- $ 0.03
03/01/2012 03/05/2012 03/07/2012 $ 0.0248 -- -- -- $ 0.02
02/01/2012 02/03/2012 02/07/2012 $ 0.0265 -- -- -- $ 0.03
12/28/2011 12/30/2011 01/04/2012 $ 0.0279 -- $ 0.0002 -- $ 0.03
12/01/2011 12/05/2011 12/07/2011 $ 0.0270 -- -- -- $ 0.03
11/01/2011 11/03/2011 11/07/2011 $ 0.0270 -- -- -- $ 0.03
10/03/2011 10/05/2011 10/07/2011 $ 0.0270 -- -- -- $ 0.03
09/01/2011 09/06/2011 09/08/2011 $ 0.0282 -- -- -- $ 0.03
08/01/2011 08/03/2011 08/05/2011 $ 0.0290 -- -- -- $ 0.03
07/01/2011 07/06/2011 07/08/2011 $ 0.0268 -- -- -- $ 0.03
06/01/2011 06/03/2011 06/07/2011 $ 0.0290 -- -- -- $ 0.03
05/02/2011 05/04/2011 05/06/2011 $ 0.0275 -- -- -- $ 0.03
04/01/2011 04/05/2011 04/07/2011 $ 0.0330 -- -- -- $ 0.03
03/01/2011 03/03/2011 03/07/2011 $ 0.0281 -- -- -- $ 0.03
02/01/2011 02/03/2011 02/07/2011 $ 0.0310 -- -- -- $ 0.03
12/29/2010 12/31/2010 01/05/2011 $ 0.0300 $ 0.0210 $ 0.0370 -- $ 0.09
12/01/2010 12/03/2010 12/07/2010 $ 0.0280 -- -- -- $ 0.03
11/01/2010 11/03/2010 11/05/2010 $ 0.0290 -- -- -- $ 0.03
10/01/2010 10/05/2010 10/07/2010 $ 0.0290 -- -- -- $ 0.03
09/01/2010 09/03/2010 09/08/2010 $ 0.0300 -- -- -- $ 0.03
08/02/2010 08/04/2010 08/06/2010 $ 0.0300 -- -- -- $ 0.03
07/01/2010 07/06/2010 07/08/2010 $ 0.0290 -- -- -- $ 0.03
06/01/2010 06/03/2010 06/07/2010 $ 0.0300 -- -- -- $ 0.03
05/03/2010 05/05/2010 05/07/2010 $ 0.0300 -- -- -- $ 0.03
04/01/2010 04/06/2010 04/08/2010 $ 0.0300 -- -- -- $ 0.03
03/01/2010 03/03/2010 03/05/2010 $ 0.0280 -- -- -- $ 0.03
02/01/2010 02/03/2010 02/05/2010 $ 0.0300 -- -- -- $ 0.03
12/29/2009 12/31/2009 01/05/2010 $ 0.0325 -- -- -- $ 0.03
12/01/2009 12/03/2009 12/07/2009 $ 0.0310 -- -- -- $ 0.03
11/02/2009 11/04/2009 11/06/2009 $ 0.0320 -- -- -- $ 0.03
10/01/2009 10/05/2009 10/07/2009 $ 0.0300 -- -- -- $ 0.03
09/01/2009 09/03/2009 09/08/2009 $ 0.0315 -- -- -- $ 0.03
08/03/2009 08/05/2009 08/07/2009 $ 0.0360 -- -- -- $ 0.04
07/01/2009 07/06/2009 07/08/2009 $ 0.0340 -- -- -- $ 0.03
06/01/2009 06/03/2009 06/05/2009 $ 0.0350 -- -- -- $ 0.04
05/01/2009 05/05/2009 05/07/2009 $ 0.0370 -- -- -- $ 0.04
04/01/2009 04/03/2009 04/07/2009 $ 0.0400 -- -- -- $ 0.04
03/02/2009 03/04/2009 03/06/2009 $ 0.0360 -- -- -- $ 0.04
02/02/2009 02/04/2009 02/06/2009 $ 0.0380 -- -- -- $ 0.04
12/26/2008 12/30/2008 01/06/2009 $ 0.0370 -- -- -- $ 0.04
12/01/2008 12/03/2008 12/05/2008 $ 0.0450 -- -- -- $ 0.04
11/03/2008 11/05/2008 11/07/2008 $ 0.0340 -- -- -- $ 0.03
10/01/2008 10/03/2008 10/07/2008 $ 0.0367 -- -- -- $ 0.04
09/02/2008 09/04/2008 09/09/2008 $ 0.0393 -- -- -- $ 0.04
08/01/2008 08/05/2008 08/07/2008 $ 0.0377 -- -- -- $ 0.04
07/01/2008 07/03/2008 07/08/2008 $ 0.0367 -- -- -- $ 0.04
06/02/2008 06/04/2008 06/06/2008 $ 0.0400 -- -- -- $ 0.04
05/01/2008 05/05/2008 05/07/2008 $ 0.0100 -- -- -- $ 0.01
04/01/2008 04/03/2008 04/08/2008 $ 0.0687 -- -- -- $ 0.07

‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.

Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.

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