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SHYD VanEck Short High Yield Muni ETF Please read important disclosure Close important disclosure false

SHYD
VanEck Short High Yield Muni ETF

SHYD
VanEck Short High Yield Muni ETF

  • NAV
    $22.69

    as of April 30, 2026
  • YTD RETURNS
    0.74%

    as of April 30, 2026
  • Total Net Assets
    $423.16M

    as of April 30, 2026
  • Total Expense Ratio
    0.32%
  • Inception Date
    01/13/2014
  • 30-Day SEC Yield
    3.57%
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Overview

Why SHYD

  • High-Yield Muni Focus

    Underlying Index comprised of highest-yielding municipal bonds with income generally exempt from federal taxes, focused on the 1-12 year maturity range.

  • Enhanced Liquidity Feature

    Index includes 20% BBB and 10% A investment-grade exposure as well as a 30% cap on non-rated bonds for enhanced liquidity

  • Diversified Credit Quality

    Index covers wide range of muni sectors and securities with historically low default rates.

    Source: Moody’s Investors Services; "U.S. Municipal Bond Defaults and Recoveries, 1970-2024"

The VanEck Short High Yield Muni ETF (SHYD®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of ICE 1-12 Year Broad High Yield Crossover Municipal Index (MIHX), which is intended to track the overall performance of the U.S. dollar denominated high yield short-term tax-exempt bond market.

Yields  as of  04/30/2026

Distribution Frequency

Monthly

30-Day SEC Yield

3.57%

Distribution Yield

4.04%

12 Month Yield

3.57%

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 High Yield Muni ETF would have been 3.57% on 04/30/26. 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 01/13/14
SHYD (NAV) -1.69 -0.03 -0.03 3.78 3.60 1.06 2.00 2.24
SHYD (Market Price) -1.60 -0.52 -0.52 4.39 3.90 1.00 2.02 2.27
ICE 1-12 Year Broad High Yield Crossover Municipal Index (Index) -1.46 0.02 0.02 3.64 4.21 2.44 3.33 3.79
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 01/13/14
SHYD (NAV) -1.69 -0.03 -0.03 3.78 3.60 1.06 2.00 2.24
SHYD (Market Price) -1.60 -0.52 -0.52 4.39 3.90 1.00 2.02 2.27
ICE 1-12 Year Broad High Yield Crossover Municipal Index (Index) -1.46 0.02 0.02 3.64 4.21 2.44 3.33 3.79

*Returns less than one year are not annualized.

Index data prior to March 1, 2022 reflects that of the Bloomberg Municipal High Yield Short Duration Index (BMHYTR). From March 1, 2022 to November 30, 2022 the index data reflects that of the ICE 1-12 Year High Yield Crossover Municipal Bond Transition Index (MXIT). From December 1, 2022 forward, the index data reflects that of the Fund's underlying index, the ICE 1-12 Year Broad High Yield Crossover Municipal Index (MIHX) 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 04/30/2026

Download XLS Get holdings
Total Holdings: 543
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
California Municipal Finance Authority
1.59
 4.000
07/15/2029
6,744,689
Patriots Energy Group Financing Agency
1.28
 5.250
10/01/2054
5,429,874
Commonwealth Of Puerto Rico
1.04
 5.750
07/01/2031
4,403,762
Commonwealth Of Puerto Rico
0.96
 4.000
07/01/2033
4,051,468
Greater Orlando Aviation Authority
0.94
 5.500
11/01/2037
3,960,024
City & County Of Denver Co
0.93
 5.000
10/01/2032
3,945,291
California Infrastructure & Economic De
0.88
 12.000
01/01/2065
3,719,320
Black Belt Energy Gas District
0.88
 5.000
12/01/2055
3,716,760
Baldwin County Industrial Development A
0.86
 5.000
06/01/2055
3,629,859
Mission Economic Development Corp
0.82
 4.625
10/01/2031
3,477,284
Kentucky Public Energy Authority
0.77
 5.250
06/01/2055
3,240,876
Commonwealth Of Puerto Rico
0.76
 5.625
07/01/2029
3,215,569
New York Transportation Development Cor
0.68
 5.250
08/01/2031
2,884,866
New York Transportation Development Cor
0.63
 5.000
08/01/2031
2,684,715
California Community Choice Financing A
0.62
 5.500
05/01/2054
2,614,282
Chicago Board Of Education
0.60
 5.000
12/01/2036
2,552,444
City Of Houston Tx Airport System Reven
0.59
 5.000
07/01/2029
2,509,064
California Housing Finance Agency
0.59
 4.000
03/20/2033
2,503,938
Chicago Board Of Education
0.56
 5.000
12/01/2034
2,364,733
Metropolitan Transportation Authority
0.55
 5.000
11/15/2035
2,329,790
New York Transportation Development Cor
0.51
 5.000
12/01/2029
2,157,248
Puerto Rico Commonwealth Aqueduct & Sew
0.50
 5.000
07/01/2033
2,126,155
Chicago Board Of Education
0.50
 5.000
12/01/2030
2,102,181
Chicago Board Of Education
0.50
 5.000
12/01/2031
2,095,998
Chicago Board Of Education
0.49
 5.000
12/01/2032
2,090,434
Commonwealth Of Puerto Rico
0.49
 5.625
07/01/2027
2,075,067
Montgomery County Industrial Developmen
0.49
 4.100
06/01/2029
2,069,410
City Of Houston Tx Airport System Reven
0.49
 5.000
07/15/2027
2,061,550
California Community Choice Financing A
0.49
 5.000
10/01/2055
2,057,613
Black Belt Energy Gas District
0.48
 4.000
12/01/2052
2,049,505
New York Transportation Development Cor
0.48
 3.000
08/01/2031
2,030,962
Indiana Finance Authority
0.47
 4.125
12/01/2026
2,004,936
Ohio Air Quality Development Authority
0.47
 3.250
09/01/2029
2,000,375
New Hampshire Business Finance Authorit
0.44
 4.150
10/20/2040
1,845,522
Brooklyn Arena Local Development Corp
0.44
 5.000
07/15/2030
1,843,917
City Of Houston Tx Airport System Reven
0.43
 5.000
07/15/2027
1,803,857
California Statewide Communities Develo
0.42
 5.250
12/01/2034
1,779,914
Baldwin County Industrial Development A
0.41
 4.300
03/01/2056
1,728,096
Chicago Board Of Education
0.40
 6.000
12/01/2037
1,697,450
New York Transportation Development Cor
0.40
 4.000
07/01/2035
1,678,941
County Of Miami-Dade Fl Aviation Revenu
0.40
 5.000
10/01/2034
1,677,628
Puerto Rico Sales Tax Financing Corp Sa
0.40
 --
07/01/2031
1,673,870
County Of Miami-Dade Fl Aviation Revenu
0.39
 5.000
10/01/2036
1,660,480
Rhode Island Health And Educational Bui
0.39
 5.000
05/15/2031
1,636,286
Greater Orlando Aviation Authority
0.38
 5.500
11/01/2036
1,601,705
Escambia County Health Facilities Autho
0.38
 5.000
08/15/2031
1,595,139
California Community Choice Financing A
0.38
 5.250
01/01/2054
1,594,580
City Of Chicago Il
0.37
 5.000
01/01/2030
1,578,673
New York Energy Finance Development Cor
0.37
 5.000
07/01/2056
1,576,928
New York Transportation Development Cor
0.37
 5.000
10/01/2035
1,573,869
Chicago Board Of Education
0.37
 5.000
12/01/2033
1,563,125
City Of Houston Tx Airport System Reven
0.37
 5.000
07/15/2028
1,561,090
New York Transportation Development Cor
0.37
 5.000
12/01/2030
1,559,996
Dekalb County Housing Authority
0.36
 4.000
12/01/2033
1,542,293
West Virginia Economic Development Auth
0.36
 4.625
04/15/2055
1,539,002
Southeast Energy Authority A Cooperativ
0.36
 5.000
11/01/2035
1,537,430
Tulsa Municipal Airport Trust Trustees/
0.36
 5.500
06/01/2035
1,534,722
Glynn-Brunswick Memorial Hospital Autho
0.36
 5.000
08/01/2034
1,519,788
Commonwealth Of Puerto Rico
0.36
 4.000
07/01/2035
1,507,834
Calhoun County Navigation Industrial De
0.35
 3.625
07/01/2026
1,473,006
Chicago Board Of Education
0.34
 5.000
12/01/2033
1,452,960
City Of Henderson Ky
0.34
 3.700
01/01/2032
1,434,019
New Jersey Economic Development Authori
0.34
 5.250
09/15/2029
1,426,476
Chicago Board Of Education
0.33
 --
12/01/2028
1,382,531
New Hampshire Business Finance Authorit
0.32
 4.125
01/20/2034
1,369,879
Maricopa County Industrial Development
0.32
 4.000
07/01/2029
1,361,232
State Of Illinois
0.32
 5.000
11/01/2029
1,355,623
Chicago Board Of Education
0.32
 5.125
12/01/2032
1,348,406
Chicago Board Of Education
0.31
 5.000
12/01/2029
1,309,708
Chicago Board Of Education
0.31
 5.000
12/01/2030
1,306,250
California Community Choice Financing A
0.30
 5.000
01/01/2055
1,290,082
Matagorda County Navigation District No
0.30
 4.000
06/01/2030
1,271,376
New York Transportation Development Cor
0.30
 5.000
07/01/2034
1,251,630
Austin Convention Enterprises Inc
0.29
 5.000
01/01/2033
1,224,412
Puerto Rico Sales Tax Financing Corp Sa
0.28
 --
07/01/2029
1,179,533
New Jersey Economic Development Authori
0.28
 4.000
07/01/2032
1,175,537
Capital Trust Agency Inc
0.28
 3.375
07/01/2031
1,169,891
Puerto Rico Sales Tax Financing Corp Sa
0.27
 --
07/01/2033
1,155,957
Great Lakes Water Authority Water Suppl
0.27
 5.000
07/01/2034
1,155,631
City Of Los Angeles Department Of Airpo
0.27
 5.000
05/15/2035
1,148,152
Metropolitan Pier & Exposition Authorit
0.27
 --
12/15/2033
1,147,846
California Health Facilities Financing
0.27
 5.000
12/01/2035
1,146,452
Monroe County Industrial Development Co
0.27
 5.000
12/01/2034
1,134,683
County Of Allen Oh Hospital Facilities
0.27
 5.000
11/01/2034
1,131,994
New Jersey Economic Development Authori
0.27
 5.750
09/15/2027
1,130,345
District Of Columbia Water & Sewer Auth
0.27
 5.000
10/01/2037
1,130,078
State Of Illinois
0.27
 5.000
09/01/2034
1,128,312
California Health Facilities Financing
0.27
 5.000
12/01/2034
1,127,815
Parish Of St James La
0.27
 6.100
12/01/2040
1,125,992
Massachusetts Development Finance Agenc
0.27
 5.000
07/01/2035
1,123,634
San Joaquin Valley Clean Energy Authori
0.26
 5.500
01/01/2056
1,120,267
City Of Salt Lake City Ut Airport Reven
0.26
 5.000
07/01/2037
1,120,195
Columbus Regional Airport Authority
0.26
 5.000
01/01/2036
1,115,050
Virginia Beach Development Authority
0.26
 5.750
09/01/2033
1,111,855
Trust For Cultural Resources Of The Cit
0.26
 5.000
12/01/2032
1,110,247
New York Transportation Development Cor
0.26
 6.000
04/01/2035
1,105,301
Dallas Fort Worth International Airport
0.26
 5.000
11/01/2036
1,099,306
Pennsylvania Economic Development Finan
0.26
 5.000
06/30/2032
1,099,161
Chicago Board Of Education
0.26
 5.500
12/01/2031
1,087,011
City Of Houston Tx Airport System Reven
0.26
 5.500
07/15/2037
1,086,814
Southeast Energy Authority A Cooperativ
0.26
 5.500
01/01/2053
1,086,558
Territory Of Guam
0.26
 5.000
01/01/2031
1,086,293
Texas Municipal Gas Acquisition & Suppl
0.26
 5.000
01/01/2055
1,083,696
Central Plains Energy Project
0.26
 5.000
08/01/2055
1,083,069
Salt Verde Financial Corp
0.26
 5.000
12/01/2037
1,081,910
Texas Municipal Gas Acquisition & Suppl
0.26
 5.000
12/15/2030
1,080,133
Territory Of Guam
0.25
 5.000
01/01/2030
1,074,495
California Community Choice Financing A
0.25
 5.000
10/01/2056
1,072,581
Colorado Health Facilities Authority
0.25
 5.000
09/01/2029
1,069,734
California Community Choice Financing A
0.25
 5.000
02/01/2055
1,069,639
Virginia Small Business Financing Autho
0.25
 5.000
12/01/2034
1,069,411
Southern California Public Power Author
0.25
 5.000
07/01/2053
1,066,373
New Jersey Health Care Facilities Finan
0.25
 --
07/01/2029
1,064,570
Kentucky Public Energy Authority
0.25
 5.000
05/01/2036
1,063,923
California Community Choice Financing A
0.25
 5.250
11/01/2054
1,063,788
California Community Choice Financing A
0.25
 5.000
02/01/2055
1,062,603
Central Plains Energy Project
0.25
 5.000
09/01/2031
1,060,765
Tennessee Energy Acquisition Corp
0.25
 5.000
05/01/2052
1,060,761
California Community Choice Financing A
0.25
 5.000
12/01/2053
1,058,068
Calcasieu Parish Memorial Hospital Serv
0.25
 5.000
12/01/2027
1,058,041
Puerto Rico Commonwealth Aqueduct & Sew
0.25
 5.000
07/01/2030
1,058,017
City Of Coralville Ia
0.25
 4.000
06/01/2029
1,056,128
Southeast Alabama Gas Supply District/T
0.25
 5.000
06/01/2049
1,053,230
City Of Houston Tx Airport System Reven
0.25
 5.250
07/15/2028
1,052,930
City Of Minneapolis Mn
0.25
 5.000
11/15/2035
1,049,683
Chicago Board Of Education
0.25
 5.000
12/01/2029
1,047,767
California Community Choice Financing A
0.25
 5.000
08/01/2055
1,047,746
Chicago Board Of Education
0.25
 5.000
12/01/2030
1,045,334
Build Nyc Resource Corp
0.25
 5.000
06/01/2036
1,045,226
Matching Fund Special Purpose Securitiz
0.25
 5.000
10/01/2032
1,045,092
Indiana Finance Authority
0.25
 4.250
11/01/2030
1,044,843
Minnesota Municipal Gas Agency
0.25
 5.000
09/01/2035
1,044,812
California Municipal Finance Authority
0.25
 5.000
12/31/2037
1,040,370
Puerto Rico Commonwealth Aqueduct & Sew
0.25
 5.000
07/01/2028
1,040,191
Washington State Convention Center Publ
0.25
 4.000
07/01/2031
1,036,605
New Jersey Economic Development Authori
0.24
 5.000
07/01/2033
1,032,059
New Jersey Economic Development Authori
0.24
 5.625
11/15/2030
1,027,572
Chicago Board Of Education
0.24
 5.000
12/01/2037
1,027,390
New York Liberty Development Corp
0.24
 5.150
11/15/2034
1,024,753
Florida Local Government Finance Commis
0.24
 4.200
11/15/2030
1,022,951
Puerto Rico Electric Power Authority
0.24
 5.250
07/01/2033
1,022,393
Vermont Educational & Health Buildings
0.24
 5.000
12/01/2031
1,022,229
Lee County Industrial Development Autho
0.24
 4.125
11/15/2029
1,020,196
New York Transportation Development Cor
0.24
 4.000
10/01/2030
1,019,724
New York City Housing Development Corp
0.24
 3.950
11/01/2064
1,016,488
Puerto Rico Sales Tax Financing Corp Sa
0.24
 4.500
07/01/2034
1,015,182
Virginia Beach Development Authority
0.24
 5.750
09/01/2030
1,014,961
Oklahoma Development Finance Authority
0.24
 5.000
08/15/2026
1,013,927
Washington State Housing Finance Commis
0.24
 4.375
01/01/2033
1,013,868
New York Transportation Development Cor
0.24
 4.000
07/01/2031
1,013,410
Guam Power Authority
0.24
 5.000
10/01/2033
1,012,691
New York City Housing Development Corp
0.24
 3.750
05/01/2065
1,011,447
Rhode Island Health And Educational Bui
0.24
 5.000
09/01/2031
1,009,417
Black Belt Energy Gas District
0.24
 5.000
10/01/2035
1,007,915
Compton Public Finance Authority
0.24
 4.500
09/01/2032
1,007,845
South Carolina Jobs-Economic Developmen
0.24
 5.500
06/15/2033
1,006,813
New York State Housing Finance Agency
0.24
 3.600
11/01/2064
1,004,460
Build Nyc Resource Corp
0.24
 5.000
12/15/2031
1,003,500
Public Finance Authority
0.24
 4.300
11/01/2030
1,000,073
New York City Housing Development Corp
0.24
 3.125
11/01/2065
998,830
Ohio Air Quality Development Authority
0.23
 4.250
08/01/2029
989,975
New York State Dormitory Authority
0.23
 5.000
08/01/2030
987,770
New York State Environmental Facilities
0.23
 3.750
12/01/2044
986,231
California Municipal Finance Authority
0.23
 3.500
12/31/2035
973,073
Windler Public Improvement Authority
0.23
 4.000
12/01/2031
971,717
Ohio Air Quality Development Authority
0.23
 2.600
06/01/2041
969,023
County Of Miami-Dade Seaport Department
0.22
 5.000
10/01/2036
946,182
City Of Farmington Nm
0.22
 1.800
04/01/2029
938,194
Industrial Development Authority Of The
0.22
 5.000
07/01/2035
915,279
Colorado Health Facilities Authority
0.21
 3.500
05/15/2030
909,430
Connecticut State Health & Educational
0.21
 5.000
07/01/2029
902,383
Territory Of Guam
0.21
 4.000
01/01/2036
901,841
Puerto Rico Sales Tax Financing Corp Sa
0.21
 --
07/01/2029
901,783
Wisconsin Health & Educational Faciliti
0.20
 3.000
08/15/2026
829,137
City Of Los Angeles Department Of Airpo
0.20
 5.000
05/15/2030
826,623
Arizona Industrial Development Authorit
0.19
 4.750
07/01/2029
817,221
County Of Miami-Dade Fl Aviation Revenu
0.19
 5.000
10/01/2035
813,421
Puerto Rico Municipal Finance Agency
0.19
 5.000
08/01/2030
792,218
Louisiana Local Government Environmenta
0.19
 3.500
11/01/2032
791,087
New Jersey Economic Development Authori
0.19
 4.000
06/15/2029
783,962
Metropolitan Nashville Airport Authorit
0.18
 5.000
07/01/2038
778,797
County Of Cuyahoga Oh
0.18
 5.000
05/15/2032
778,442
Florida Higher Educational Facilities F
0.18
 5.000
07/01/2035
771,691
California Community Choice Financing A
0.18
 5.000
01/01/2056
771,330
State Of Illinois
0.18
 5.000
03/01/2033
761,986
County Of Sullivan Ny
0.18
 4.850
11/01/2031
754,428
Arkansas Development Finance Authority
0.18
 4.250
09/01/2046
751,149
Philadelphia Gas Works Co
0.18
 5.000
10/01/2031
745,035
New Memphis Arena Public Building Autho
0.17
 --
04/01/2033
739,651
Florida Development Finance Corp
0.17
 5.000
07/01/2035
736,806
Chicago Board Of Education
0.17
 --
12/01/2028
725,486
Puerto Rico Electric Power Authority
0.17
 5.250
07/01/2032
718,763
Colorado State University Research Foun
0.17
 5.000
03/01/2035
710,028
Washington State Housing Finance Commis
0.17
 3.500
12/20/2035
704,488
Central Plains Energy Project
0.16
 5.000
09/01/2034
688,454
State Of Nevada Department Of Business
0.16
 12.000
01/01/2065
685,720
Monroe County Industrial Development Co
0.16
 4.000
12/01/2035
683,246
M-S-R Energy Authority
0.16
 6.125
11/01/2029
678,701
Public Finance Authority
0.16
 5.000
12/01/2027
670,277
Virginia Small Business Financing Autho
0.15
 4.000
01/01/2031
653,601
Metropolitan Pier & Exposition Authorit
0.15
 --
06/15/2030
651,790
Detroit Regional Convention Facility Au
0.15
 5.000
10/01/2035
642,824
Metropolitan Washington Airports Author
0.15
 --
10/01/2037
637,342
City Of Minneapolis Mn
0.15
 5.000
11/15/2034
636,458
New Hope Cultural Education Facilities
0.15
 4.000
07/01/2028
633,429
California Municipal Finance Authority
0.15
 5.000
06/30/2027
630,292
Allentown Neighborhood Improvement Zone
0.15
 5.000
05/01/2028
626,799
Eastern Illinois Economic Development A
0.15
 5.000
11/01/2033
622,107
City Of Wichita Ks
0.15
 5.000
05/15/2034
617,864
Denver Convention Center Hotel Authorit
0.15
 5.000
12/01/2027
617,667
City Of Farmington Nm
0.14
 2.150
04/01/2033
612,167
New Jersey Economic Development Authori
0.14
 4.000
07/01/2034
609,368
M-S-R Energy Authority
0.14
 7.000
11/01/2034
598,723
North Carolina Medical Care Commission
0.14
 5.000
10/01/2033
591,813
New York State Thruway Authority
0.14
 5.000
01/01/2038
581,676
Illinois Sports Facilities Authority/Th
0.14
 5.000
06/15/2029
579,050
Kalamazoo Economic Development Corp
0.14
 3.900
08/15/2031
578,553
Massachusetts Development Finance Agenc
0.14
 5.000
07/01/2034
577,816
Chicago Board Of Education
0.14
 5.000
12/01/2030
577,247
Los Angeles Department Of Water & Power
0.14
 5.000
07/01/2035
574,461
City Of Los Angeles Department Of Airpo
0.14
 5.000
05/15/2035
574,076
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2036
574,064
Connecticut State Health & Educational
0.13
 5.000
07/01/2033
569,120
Miami Beach Redevelopment Agency
0.13
 5.000
02/01/2036
566,237
Territory Of Guam
0.13
 5.000
01/01/2035
564,916
City Of Philadelphia Pa Airport Revenue
0.13
 5.000
07/01/2034
564,446
Chicago O'Hare International Airport
0.13
 5.000
01/01/2032
563,815
Monroe County Industrial Development Co
0.13
 4.000
01/01/2030
562,519
North Carolina Medical Care Commission
0.13
 5.000
09/01/2034
560,081
New Jersey Educational Facilities Autho
0.13
 5.000
07/01/2064
558,332
Metropolitan Nashville Airport Authorit
0.13
 5.250
07/01/2035
556,774
Harris County-Houston Sports Authority
0.13
 5.000
11/15/2030
556,085
Kentucky Bond Development Corp
0.13
 5.000
08/15/2055
556,029
San Francisco City & County Airport Com
0.13
 5.000
05/01/2033
555,641
New Hampshire Business Finance Authorit
0.13
 5.375
12/15/2035
555,186
County Of Jefferson Al Sewer Revenue
0.13
 5.000
10/01/2035
554,011
California Community Choice Financing A
0.13
 5.000
12/01/2035
553,367
Connecticut State Health & Educational
0.13
 5.000
07/01/2064
553,174
City Of Atlanta Ga Department Of Aviati
0.13
 5.000
07/01/2030
547,850
Delaware Valley Regional Finance Author
0.13
 5.500
08/01/2028
546,714
City Of Philadelphia Pa Airport Revenue
0.13
 5.000
07/01/2030
545,819
Dallas Fort Worth International Airport
0.13
 5.000
11/01/2031
545,265
Energy Southeast A Cooperative District
0.13
 5.250
07/01/2054
545,091
Tennergy Corp/Tn
0.13
 5.500
10/01/2053
543,097
West Virginia Economic Development Auth
0.13
 5.450
01/01/2055
543,052
California Community Choice Financing A
0.13
 5.000
04/01/2056
542,757
Monroe County Industrial Development Co
0.13
 5.000
12/01/2031
542,181
City Of Houston Tx Airport System Reven
0.13
 5.250
07/15/2034
541,357
Virginia Small Business Financing Autho
0.13
 5.000
01/01/2034
540,681
Main Street Natural Gas Inc
0.13
 5.000
05/01/2055
540,058
California Municipal Finance Authority
0.13
 5.000
06/30/2032
538,563
Black Belt Energy Gas District
0.13
 5.000
12/01/2035
537,517
Central Valley Energy Authority
0.13
 5.000
08/01/2034
537,330
Texas Municipal Gas Acquisition And Sup
0.13
 5.000
01/01/2036
536,830
Lower Alabama Gas District/The
0.13
 5.000
12/01/2033
536,818
Southeast Energy Authority A Cooperativ
0.13
 5.000
10/01/2030
536,744
Virginia Small Business Financing Autho
0.13
 5.000
07/01/2035
536,719
Kentucky Public Energy Authority
0.13
 5.000
01/01/2055
536,624
Main Street Energy Inc
0.13
 5.000
12/01/2033
535,374
City Of Houston Tx Airport System Reven
0.13
 5.250
07/15/2030
534,879
California Community Choice Financing A
0.13
 5.000
02/01/2031
534,613
New York City Industrial Development Ag
0.13
 5.000
03/01/2029
534,408
California Community Choice Financing A
0.13
 5.000
03/01/2056
533,955
Arlington Higher Education Finance Corp
0.13
 5.000
06/15/2035
533,160
City Of Grand Forks Nd
0.13
 5.000
12/01/2034
532,919
Massachusetts Development Finance Agenc
0.13
 5.000
07/01/2029
532,643
San Francisco City & County Airport Com
0.13
 5.000
05/01/2029
531,014
San Francisco City & County Airport Com
0.13
 5.000
05/01/2029
531,014
Capital Trust Agency Inc
0.13
 4.000
06/15/2031
530,971
California Community Choice Financing A
0.12
 5.000
07/01/2053
528,206
Black Belt Energy Gas District
0.12
 5.000
07/01/2033
528,122
Black Belt Energy Gas District
0.12
 5.000
10/01/2035
527,743
Black Belt Energy Gas District
0.12
 5.000
12/01/2034
527,596
Illinois Finance Authority
0.12
 4.800
12/01/2043
525,599
Puerto Rico Electric Power Authority
0.12
 5.250
07/01/2029
524,417
Metropolitan Pier & Exposition Authorit
0.12
 5.000
12/15/2028
524,368
California Public Finance Authority
0.12
 5.700
06/01/2034
523,104
Monroe County Industrial Development Co
0.12
 5.000
07/01/2034
522,969
Cleveland-Cuyahoga County Port Authorit
0.12
 5.250
01/01/2034
522,384
Texas Municipal Gas Acquisition & Suppl
0.12
 --
04/01/2036
521,403
Louisiana Public Facilities Authority
0.12
 5.000
12/15/2034
521,031
City Of Houston Tx Airport System Reven
0.12
 5.000
07/15/2028
520,363
St Louis County Industrial Development
0.12
 5.000
09/01/2028
519,696
Stamford Housing Authority
0.12
 4.750
10/01/2032
519,206
Long Island Power Authority
0.12
 5.000
09/01/2032
518,551
County Of Cook Il
0.12
 5.000
11/15/2028
517,515
Black Belt Energy Gas District
0.12
 5.000
07/01/2028
517,395
Chicago Board Of Education
0.12
 5.000
12/01/2027
517,188
Public Finance Authority
0.12
 5.000
10/01/2034
517,124
Metropolitan Transportation Authority
0.12
 5.000
11/15/2031
516,554
Energy Southeast A Cooperative District
0.12
 5.000
09/01/2033
516,551
Oklahoma County Finance Authority
0.12
 5.250
06/15/2034
516,101
County Of Okaloosa Fl
0.12
 4.375
05/15/2035
515,963
Public Finance Authority
0.12
 6.000
07/01/2060
514,911
Puerto Rico Electric Power Authority
0.12
 5.250
07/01/2030
514,805
North Carolina Turnpike Authority
0.12
 5.000
01/01/2032
514,548
Central Plains Energy Project
0.12
 5.000
09/01/2027
514,099
Chicago Board Of Education
0.12
 --
12/01/2029
514,053
Atlanta Development Authority/The
0.12
 5.000
04/01/2034
513,738
New Hampshire Business Finance Authorit
0.12
 4.750
06/20/2041
513,516
Alabama Special Care Facilities Financi
0.12
 5.500
06/01/2030
511,814
County Of Muskingum Oh
0.12
 5.000
02/15/2027
511,385
Black Belt Energy Gas District
0.12
 4.000
10/01/2052
510,760
New Jersey Economic Development Authori
0.12
 5.500
01/01/2027
510,390
South Carolina Jobs-Economic Developmen
0.12
 4.000
12/01/2030
510,360
New Jersey Health Care Facilities Finan
0.12
 5.000
07/01/2029
510,227
Austin Convention Enterprises Inc
0.12
 5.000
01/01/2030
510,209
Florida Development Finance Corp
0.12
 5.000
10/01/2032
509,891
San Francisco City & County Airport Com
0.12
 5.000
05/01/2027
509,850
Polk County Industrial Development Auth
0.12
 4.825
06/15/2035
509,673
California Pollution Control Financing
0.12
 5.000
07/01/2037
508,987
Black Belt Energy Gas District
0.12
 5.250
05/01/2056
508,461
Washington State Housing Finance Commis
0.12
 3.950
07/01/2029
506,685
Public Finance Authority
0.12
 5.000
06/15/2036
506,577
Michigan Finance Authority
0.12
 4.000
12/01/2036
505,629
Alameda Corridor Transportation Authori
0.12
 5.000
10/01/2036
505,315
Chicago Board Of Education
0.12
 --
12/01/2029
505,266
North Carolina Medical Care Commission
0.12
 4.250
09/01/2028
504,682
Build Nyc Resource Corp
0.12
 4.250
06/15/2035
504,402
Florida Development Finance Corp
0.12
 5.000
08/15/2032
503,597
City Of Phoenix Civic Improvement Corp
0.12
 4.000
07/01/2037
501,751
Arkansas Development Finance Authority
0.12
 4.000
09/01/2046
501,305
Grand Rapids Economic Development Corp
0.12
 4.125
11/01/2030
500,240
State Of Hawaii Department Of Budget &
0.12
 3.100
05/01/2026
500,000
Illinois Finance Authority
0.12
 3.650
05/01/2031
498,461
Village Community Development District
0.12
 4.000
05/01/2034
497,940
North Carolina Medical Care Commission
0.12
 3.200
11/01/2030
497,863
Commonwealth Of Puerto Rico
0.12
 4.000
07/01/2037
493,802
Plaza At Noah's Ark Community Improveme
0.11
 3.000
05/01/2030
481,723
Ohio Air Quality Development Authority
0.11
 2.400
12/01/2038
480,385
Chicago Board Of Education
0.11
 --
12/01/2026
480,130
Public Finance Authority
0.11
 5.000
06/15/2034
477,319
New York City Industrial Development Ag
0.11
 3.000
03/01/2036
476,305
State Of Illinois
0.11
 5.000
11/01/2028
474,364
Port Beaumont Navigation District
0.11
 2.625
01/01/2031
472,454
El Centro Financing Authority
0.11
 4.500
07/01/2029
463,780
Maryland Economic Development Corp
0.11
 5.000
06/01/2028
450,059
New Jersey Economic Development Authori
0.11
 4.250
06/15/2026
447,355
New Jersey Economic Development Authori
0.11
 5.250
06/15/2028
444,291
New Hampshire Business Finance Authorit
0.10
 5.950
12/01/2031
443,916
Philadelphia Authority For Industrial D
0.10
 4.000
06/01/2031
441,247
Connecticut State Health & Educational
0.10
 5.000
07/01/2027
440,542
Hoover Industrial Development Board
0.10
 6.375
11/01/2050
431,140
New York Transportation Development Cor
0.10
 5.000
07/01/2030
427,482
Albany Hospital Facility Authority
0.10
 3.200
11/15/2029
425,968
Illinois Finance Authority
0.10
 5.000
05/15/2033
422,704
California Statewide Communities Develo
0.10
 3.500
11/01/2027
421,760
Florida Development Finance Corp
0.10
 4.000
09/15/2030
417,405
Illinois Sports Facilities Authority/Th
0.10
 5.000
06/15/2028
414,527
Metropolitan Pier & Exposition Authorit
0.10
 --
12/15/2030
408,239
Collegiate Charter School Of Lowell
0.10
 5.000
06/15/2029
408,092
New Jersey Transportation Trust Fund Au
0.10
 5.000
06/15/2030
403,558
Salt Verde Financial Corp
0.10
 5.500
12/01/2029
403,362
Georgia Local Government
0.09
 4.750
06/01/2028
395,631
San Francisco City & County Airport Com
0.09
 5.000
05/01/2034
388,309
Arizona Industrial Development Authorit
0.09
 3.625
05/20/2033
387,851
Polk County Industrial Development Auth
0.09
 5.875
01/01/2033
386,000
Washington State Housing Finance Commis
0.09
 5.000
01/01/2031
373,643
Massachusetts Development Finance Agenc
0.09
 5.000
10/01/2029
372,637
Allentown Neighborhood Improvement Zone
0.09
 5.000
05/01/2028
372,440
District Of Columbia
0.09
 4.000
06/01/2030
371,963
Texas Municipal Gas Acquisition & Suppl
0.09
 5.000
12/15/2028
371,705
New Hampshire Business Finance Authorit
0.09
 5.000
12/01/2028
367,078
California Municipal Finance Authority
0.09
 5.000
05/15/2030
364,021
South Carolina Public Service Authority
0.09
 5.000
12/01/2031
363,047
City Of Chicago Il
0.09
 4.000
01/01/2030
362,861
County Of Cuyahoga Oh
0.08
 5.000
02/15/2027
356,952
New Jersey Economic Development Authori
0.08
 5.125
01/01/2034
356,645
State Of Illinois
0.08
 3.500
06/01/2030
355,162
Kentucky Economic Development Finance A
0.08
 5.000
05/15/2036
354,783
New Jersey Transportation Trust Fund Au
0.08
 --
12/15/2026
353,665
Arizona Industrial Development Authorit
0.08
 4.000
07/01/2029
353,337
Public Finance Authority
0.08
 5.500
12/15/2032
346,746
Kalamazoo Economic Development Corp
0.08
 5.000
08/15/2036
341,681
Northern Illinois Municipal Power Agenc
0.08
 5.000
12/01/2029
340,563
Arizona Industrial Development Authorit
0.08
 4.000
07/15/2030
334,315
Florida Development Finance Corp
0.08
 5.000
08/01/2056
328,376
Puerto Rico Electric Power Authority
0.08
 5.250
07/01/2026
325,810
Miami-Dade County Industrial Developmen
0.08
 5.000
06/01/2030
321,621
Redtail Ridge Metropolitan District
0.08
 --
12/01/2032
321,473
Massachusetts Development Finance Agenc
0.07
 5.000
07/01/2028
316,223
City & County Of Denver Co Airport Syst
0.07
 5.000
12/01/2029
315,885
Public Finance Authority
0.07
 4.000
09/01/2029
313,537
California Statewide Communities Develo
0.07
 5.000
05/15/2033
307,323
Chicago Board Of Education
0.07
 --
12/01/2026
303,756
Tennessee Energy Acquisition Corp
0.07
 5.250
09/01/2026
294,424
Louisville/Jefferson County Metropolita
0.07
 5.000
10/01/2031
293,122
Hospitals & Higher Education Facilities
0.07
 5.000
07/01/2029
283,366
Harris County-Houston Sports Authority
0.07
 --
11/15/2029
282,441
Dutchess County Local Development Corp
0.07
 5.000
07/01/2028
280,240
Town Of Hamden Ct
0.07
 5.000
01/01/2030
279,271
California Health Facilities Financing
0.07
 5.000
10/01/2050
278,232
Clark County School District
0.07
 5.000
06/15/2030
277,050
Dutchess County Local Development Corp
0.07
 5.000
07/01/2030
275,109
California Municipal Finance Authority
0.06
 5.000
06/30/2031
273,617
Clark County School District
0.06
 5.000
06/15/2029
272,248
Clark County School District
0.06
 5.000
06/15/2030
271,776
Allentown Neighborhood Improvement Zone
0.06
 5.500
05/01/2032
269,029
Rum River Special Education Cooperative
0.06
 5.000
02/01/2035
268,089
Public Finance Authority
0.06
 5.000
07/01/2035
265,825
Mission Economic Development Corp
0.06
 5.000
12/01/2064
265,694
California Municipal Finance Authority
0.06
 5.000
11/01/2035
264,520
City Of Burbank Il
0.06
 5.250
02/01/2036
264,292
Adams County General Authority
0.06
 5.000
06/01/2034
263,354
Energy Southeast A Cooperative District
0.06
 5.000
11/01/2035
262,783
Selma Industrial Development Board
0.06
 4.200
05/01/2034
262,465
Chicago Board Of Education
0.06
 5.000
12/01/2027
262,386
Arizona Industrial Development Authorit
0.06
 4.875
07/01/2060
261,776
Chicago Board Of Education
0.06
 5.000
12/01/2029
260,107
Tarrant County Cultural Education Facil
0.06
 6.250
11/15/2031
259,372
Allentown Neighborhood Improvement Zone
0.06
 5.000
05/01/2027
259,336
Illinois Sports Facilities Authority/Th
0.06
 --
06/15/2026
258,873
American Samoa Economic Development Aut
0.06
 5.000
09/01/2028
258,477
City Of Houston Tx Airport System Reven
0.06
 5.000
07/01/2027
258,057
New York City Housing Development Corp
0.06
 5.250
12/15/2031
257,659
Massachusetts Development Finance Agenc
0.06
 5.500
07/15/2035
257,338
King County Public Hospital District No
0.06
 5.000
12/01/2032
257,322
New York State Dormitory Authority
0.06
 5.000
07/01/2027
257,235
Oklahoma Development Finance Authority
0.06
 5.000
08/15/2027
257,086
New Hampshire Business Finance Authorit
0.06
 6.000
12/01/2031
256,556
Capital Projects Finance Authority/Fl
0.06
 5.000
06/15/2035
256,469
City Of Kalispell Mt
0.06
 4.250
05/15/2030
255,514
Baldwin County Industrial Development A
0.06
 4.625
06/01/2055
255,513
New York State Environmental Facilities
0.06
 4.250
09/01/2050
255,449
City Of Garden City Ks
0.06
 4.000
06/01/2029
255,075
Chandler Industrial Development Authori
0.06
 4.100
12/01/2037
255,073
City Of Venice Fl
0.06
 4.250
01/01/2030
253,721
County Of Suffolk Ny
0.06
 5.000
10/15/2026
253,437
City Of Manhattan Ks
0.06
 3.750
06/01/2031
253,421
New York City Housing Development Corp
0.06
 4.000
12/15/2031
253,163
Public Finance Authority
0.06
 4.000
07/15/2033
252,508
Massachusetts Development Finance Agenc
0.06
 4.000
10/01/2027
251,173
Kentucky Economic Development Finance A
0.06
 5.375
11/15/2032
251,103
New Hampshire Business Finance Authorit
0.06
 6.125
12/15/2033
250,550
California Municipal Finance Authority
0.06
 5.000
11/01/2036
250,391
Wisconsin Health & Educational Faciliti
0.06
 5.000
07/01/2035
250,308
New Hampshire Business Finance Authorit
0.06
 4.000
11/01/2027
250,090
Public Finance Authority
0.06
 4.000
07/15/2034
250,019
North Carolina Medical Care Commission
0.06
 3.450
11/01/2030
248,940
City Of Anna Tx
0.06
 4.000
09/15/2036
245,439
Public Finance Authority
0.06
 5.500
11/15/2032
245,214
Hunt Memorial Hospital District Charita
0.06
 4.375
02/15/2036
244,838
Sierra Vista Industrial Development Aut
0.06
 5.000
06/15/2036
244,627
New Hampshire Business Finance Authorit
0.06
 5.375
12/01/2031
242,172
State Of Illinois Sales Tax Revenue
0.06
 5.000
06/15/2026
240,010
Chicago Board Of Education
0.06
 5.500
12/01/2026
237,202
Sierra Vista Industrial Development Aut
0.06
 5.250
06/15/2035
235,347
Peninsula Town Center Community Develop
0.06
 4.500
09/01/2028
233,596
California Municipal Finance Authority
0.05
 5.000
06/30/2028
232,308
Louisiana Local Government Environmenta
0.05
 4.250
11/15/2030
220,266
Maryland Heights Industrial Development
0.05
 4.375
03/15/2030
216,236
Public Finance Authority
0.05
 4.250
05/01/2029
214,505
Chicago Board Of Education
0.05
 5.000
12/01/2029
212,866
Iowa Finance Authority
0.05
 4.500
10/01/2035
212,177
New York Transportation Development Cor
0.05
 2.250
08/01/2026
210,793
State Public School Building Authority
0.05
 5.000
06/01/2029
206,669
County Of Palm Beach Fl
0.05
 5.000
04/01/2029
204,274
City Of Baltimore Md
0.05
 4.000
09/01/2027
201,796
Village Community Development District
0.05
 3.800
05/01/2028
195,742
California Municipal Finance Authority
0.05
 4.650
05/01/2030
193,982
Texas Municipal Gas Acquisition And Sup
0.04
 6.250
12/15/2026
187,939
City Of Houston Tx Airport System Reven
0.04
 5.000
07/01/2027
187,157
New Hampshire Business Finance Authorit
0.04
 5.300
12/01/2032
183,904
Bl Train Holdings West Llc
0.04
 --
--
183,750
Florida Development Finance Corp
0.04
 5.000
07/01/2037
182,951
Huntington Local Development Corp
0.04
 4.000
07/01/2027
180,175
Kentucky Municipal Power Agency
0.04
 5.000
09/01/2030
176,767
County Of Frederick Md
0.04
 5.000
09/01/2027
176,748
Capital Trust Agency Inc
0.04
 5.000
08/01/2027
175,948
South Carolina Public Service Authority
0.04
 5.000
12/01/2031
173,883
New Jersey Economic Development Authori
0.04
 4.125
07/01/2030
170,595
New York Transportation Development Cor
0.04
 5.000
08/01/2026
167,191
Yonkers Economic Development Corp
0.04
 4.000
10/15/2029
164,402
Development Authority Of Floyd County
0.04
 5.500
12/01/2028
163,944
Michigan Strategic Fund
0.04
 5.000
06/30/2030
162,976
Chicago Board Of Education
0.04
 --
12/01/2030
160,388
Tobacco Settlement Financing Corp
0.04
 5.000
06/01/2029
159,311
Calcasieu Parish Memorial Hospital Serv
0.04
 5.000
12/01/2029
156,640
California Statewide Communities Develo
0.04
 5.000
07/01/2029
155,081
West Virginia Hospital Finance Authorit
0.04
 5.000
06/01/2026
153,366
Development Authority Of The City Of Ma
0.04
 5.000
11/01/2027
150,290
Industrial Development Authority Of The
0.03
 3.875
11/15/2029
144,345
Village Community Development District
0.03
 3.000
05/01/2029
143,153
Metropolitan Pier & Exposition Authorit
0.03
 --
06/15/2034
142,412
New Hampshire Business Finance Authorit
0.03
 5.125
12/15/2030
139,777
Public Finance Authority
0.03
 4.000
02/01/2035
138,910
Amherst Industrial Development Authorit
0.03
 4.750
09/01/2030
138,363
Development Authority Of White County
0.03
 5.000
10/01/2029
136,085
Reno Redevelopment Agency
0.03
 5.400
06/01/2027
133,143
Pennsylvania Economic Development Finan
0.03
 5.000
06/30/2026
132,489
New Jersey Economic Development Authori
0.03
 4.375
06/15/2027
132,253
Central Plains Energy Project
0.03
 5.000
09/01/2030
132,078
Iowa Finance Authority
0.03
 5.000
03/01/2028
132,052
Lees Summit Industrial Development Auth
0.03
 5.000
08/15/2032
127,933
South Carolina Jobs-Economic Developmen
0.03
 4.000
11/15/2027
127,179
New Hampshire Business Finance Authorit
0.03
 --
12/15/2033
123,512
Town Of Ramapo Ny
0.03
 4.000
05/15/2027
122,233
Tarrant County Cultural Education Facil
0.03
 4.000
05/15/2027
122,151
Puerto Rico Electric Power Authority
0.03
 4.750
07/01/2033
121,342
Connecticut State Health & Educational
0.03
 4.000
07/01/2030
121,030
Hospitals & Higher Education Facilities
0.03
 5.000
07/01/2026
117,208
Sa Energy Acquisition Public Facility C
0.03
 5.500
08/01/2027
114,239
Jea Electric System Revenue
0.03
 5.000
10/01/2029
113,854
County Of Cuyahoga Oh
0.03
 5.000
02/15/2028
112,245
Irvine Unified School District
0.03
 5.000
09/01/2026
111,563
Metropolitan Pier & Exposition Authorit
0.03
 --
06/15/2028
107,637
City Of Anderson In
0.03
 4.750
10/01/2027
106,153
Metropolitan Pier & Exposition Authorit
0.02
 --
06/15/2031
105,393
Central Plains Energy Project
0.02
 5.000
09/01/2028
103,954
Brooklyn Arena Local Development Corp
0.02
 5.000
07/15/2028
102,479
Brooklyn Arena Local Development Corp
0.02
 5.000
07/15/2027
102,455
Pennsylvania Turnpike Commission
0.02
 5.000
06/01/2030
102,284
Public Authority For Colorado Energy
0.02
 6.250
11/15/2028
102,027
Massachusetts Development Finance Agenc
0.02
 5.000
07/01/2028
101,975
Town Of Ramapo Ny
0.02
 4.125
05/15/2028
101,943
Brooklyn Arena Local Development Corp
0.02
 5.000
07/15/2026
101,738
Philadelphia Gas Works Co
0.02
 5.000
10/01/2026
101,335
County Of Howard Md
0.02
 4.000
02/15/2028
100,861
State Of Illinois
0.02
 4.125
11/01/2031
100,274
Palomar Health
0.02
 5.000
11/01/2027
89,145
New Hope Cultural Education Facilities
0.02
 5.250
08/15/2027
74,404
Tsasc Inc/Ny
0.02
 5.000
06/01/2027
72,995
Tsasc Inc/Ny
0.02
 5.000
06/01/2028
72,971
California Municipal Finance Authority
0.01
 5.000
02/01/2028
51,282
California Municipal Finance Authority
0.01
 5.000
02/01/2027
51,207
Public Finance Authority
0.01
 4.100
06/15/2026
50,724
City Of Anoka Mn
0.01
 4.250
11/01/2027
39,784
Philadelphia Authority For Industrial D
0.01
 4.500
03/15/2029
34,118
Illinois Finance Authority
0.01
 5.000
02/15/2027
31,837
Illinois Finance Authority
0.01
 5.400
04/01/2027
30,150
Philadelphia Authority For Industrial D
0.01
 4.500
03/15/2029
25,986
Kentucky Economic Development Finance A
0.01
 5.000
05/15/2026
25,576
Public Finance Authority
0.01
 4.100
06/15/2026
25,411
Housing & Redevelopment Authority Of Th
0.01
 5.000
09/01/2026
25,255
California Pollution Control Financing
0.00
 7.500
07/01/2032
15,300
California Pollution Control Financing
0.00
 7.000
07/01/2026
11,250
Salt Verde Financial Corp
0.00
 5.250
12/01/2028
10,665
County Of Clark Nv
0.00
 2.100
06/01/2031
4,614
New Jersey Transportation Trust Fund Au
0.00
 --
12/15/2032
4,042
Mesquite Health Facilities Development
0.00
 5.000
02/15/2030
1,015
County Of Grand Forks Nd
0.00
 6.625
12/15/2031
30
State Of Nevada Department Of Business
0.00
 5.875
12/15/2027
3
--
4.78
 --
--
20,236,433
Other/Cash
-0.05
 --
--
-194,487
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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

Sector Weightings (%) as at 03/31/2026

  • Sector

    % of Net Assets

  • Industrial Development Revenue

    20.45

  • Power

    10.60

  • Utilities - Other

    9.40

  • Local GO

    8.78

  • Hospitals

    6.86

  • Tax

    6.51

  • Health

    6.11

  • Education

    5.63

  • Airport

    5.33

  • State GO

    4.31

  • Unassigned

    3.79

  • Multi-Family Housing

    3.01

  • Leasing COPS & Appropriations

    2.58

  • Water & Sewer

    1.63

  • Transportation

    1.51

  • Misc

    1.48

  • Toll & Turnpike

    0.99

  • Pollution Control

    0.90

  • Tobacco

    0.07

  • Refunded

    0.07

Credit Quality (%) as of 03/31/2026

Composite % of Net Assets
Investment Grade AAA 0.27
AA 5.32
A 21.04
BBB 19.04
Non-Investment Grade BB 22.01
B 3.17
CCC 0.31
Total Investment Grade -- 45.68
Total Non-Investment Grade -- 25.49
Not Rated -- 28.83
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 03/31/2026

  • Years

    Maturity (%)

  • < 1

    4.20

  • 1 - 3

    9.20

  • 3 - 5

    26.20

  • 5 - 7

    24.50

  • 7 - 10

    29.00

  • 10 - 15

    6.90

  • 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
05/01/2026 05/01/2026 05/06/2026 $ 0.0716 -- -- -- $ 0.07
04/01/2026 04/01/2026 04/07/2026 $ 0.0764 -- -- -- $ 0.08
03/02/2026 03/02/2026 03/05/2026 $ 0.0602 -- -- -- $ 0.06
02/02/2026 02/02/2026 02/05/2026 $ 0.0713 -- -- -- $ 0.07
12/29/2025 12/29/2025 12/31/2025 $ 0.0682 -- -- -- $ 0.07
11/28/2025 11/28/2025 12/03/2025 $ 0.0655 -- -- -- $ 0.07
11/03/2025 11/03/2025 11/06/2025 $ 0.0706 -- -- -- $ 0.07
10/01/2025 10/01/2025 10/06/2025 $ 0.0634 -- -- -- $ 0.06
09/02/2025 09/02/2025 09/05/2025 $ 0.0656 -- -- -- $ 0.07
08/01/2025 08/01/2025 08/06/2025 $ 0.0710 -- -- -- $ 0.07
07/01/2025 07/01/2025 07/07/2025 $ 0.0640 -- -- -- $ 0.06
06/02/2025 06/02/2025 06/05/2025 $ 0.0705 -- -- -- $ 0.07
05/01/2025 05/01/2025 05/06/2025 $ 0.0637 -- -- -- $ 0.06
04/01/2025 04/01/2025 04/04/2025 $ 0.0722 -- -- -- $ 0.07
03/03/2025 03/03/2025 03/06/2025 $ 0.0521 -- -- -- $ 0.05
02/03/2025 02/03/2025 02/06/2025 $ 0.0747 -- -- -- $ 0.07
12/27/2024 12/27/2024 12/30/2024 $ 0.0646 -- -- -- $ 0.06
12/02/2024 12/02/2024 12/05/2024 $ 0.0585 -- -- -- $ 0.06
11/01/2024 11/01/2024 11/06/2024 $ 0.0624 -- -- -- $ 0.06
10/01/2024 10/01/2024 10/04/2024 $ 0.0576 -- -- -- $ 0.06
09/03/2024 09/03/2024 09/06/2024 $ 0.0585 -- -- -- $ 0.06
08/01/2024 08/01/2024 08/06/2024 $ 0.0621 -- -- -- $ 0.06
07/01/2024 07/01/2024 07/05/2024 $ 0.0621 -- -- -- $ 0.06
06/03/2024 06/03/2024 06/06/2024 $ 0.0590 -- -- -- $ 0.06
05/01/2024 05/02/2024 05/07/2024 $ 0.0491 -- -- -- $ 0.05
04/01/2024 04/02/2024 04/05/2024 $ 0.0663 -- -- -- $ 0.07
03/01/2024 03/04/2024 03/07/2024 $ 0.0536 -- -- -- $ 0.05
02/01/2024 02/02/2024 02/07/2024 $ 0.0555 -- -- -- $ 0.06
12/27/2023 12/28/2023 12/29/2023 $ 0.0595 -- -- -- $ 0.06
12/01/2023 12/04/2023 12/07/2023 $ 0.0541 -- -- -- $ 0.05
11/01/2023 11/02/2023 11/07/2023 $ 0.0646 -- -- -- $ 0.06
10/02/2023 10/03/2023 10/06/2023 $ 0.0550 -- -- -- $ 0.06
09/01/2023 09/05/2023 09/08/2023 $ 0.0554 -- -- -- $ 0.06
08/01/2023 08/02/2023 08/10/2023 $ 0.0577 -- -- -- $ 0.06
07/03/2023 07/05/2023 07/07/2023 $ 0.0530 -- -- -- $ 0.05
06/01/2023 06/02/2023 06/07/2023 $ 0.0558 -- -- -- $ 0.06
05/01/2023 05/02/2023 05/05/2023 $ 0.0500 -- -- -- $ 0.05
04/03/2023 04/04/2023 04/10/2023 $ 0.0635 -- -- -- $ 0.06
03/01/2023 03/02/2023 03/07/2023 $ 0.0452 -- -- -- $ 0.05
02/01/2023 02/02/2023 02/07/2023 $ 0.0468 -- -- -- $ 0.05
12/28/2022 12/29/2022 12/30/2022 $ 0.0521 -- -- -- $ 0.05
12/01/2022 12/02/2022 12/07/2022 $ 0.0508 -- -- -- $ 0.05
11/01/2022 11/02/2022 11/07/2022 $ 0.0529 -- -- -- $ 0.05
10/03/2022 10/04/2022 10/07/2022 $ 0.0501 -- -- -- $ 0.05
09/01/2022 09/02/2022 09/08/2022 $ 0.0475 -- -- -- $ 0.05
08/01/2022 08/02/2022 08/05/2022 $ 0.0511 -- -- -- $ 0.05
07/01/2022 07/05/2022 07/08/2022 $ 0.0508 -- -- -- $ 0.05
06/01/2022 06/02/2022 06/07/2022 $ 0.0507 -- -- -- $ 0.05
05/02/2022 05/03/2022 05/06/2022 $ 0.0500 -- -- -- $ 0.05
04/01/2022 04/04/2022 04/07/2022 $ 0.0494 -- -- -- $ 0.05
03/01/2022 03/02/2022 03/07/2022 $ 0.0429 -- -- -- $ 0.04
02/01/2022 02/02/2022 02/07/2022 $ 0.0447 -- -- -- $ 0.04
12/29/2021 12/30/2021 12/31/2021 $ 0.0478 -- -- -- $ 0.05
12/01/2021 12/02/2021 12/07/2021 $ 0.0475 -- -- -- $ 0.05
11/01/2021 11/02/2021 11/05/2021 $ 0.0497 -- -- -- $ 0.05
10/01/2021 10/04/2021 10/07/2021 $ 0.0485 -- -- -- $ 0.05
09/01/2021 09/02/2021 09/08/2021 $ 0.0515 -- -- -- $ 0.05
08/02/2021 08/03/2021 08/06/2021 $ 0.0525 -- -- -- $ 0.05
07/01/2021 07/02/2021 07/08/2021 $ 0.0483 -- -- -- $ 0.05
06/01/2021 06/02/2021 06/07/2021 $ 0.0564 -- -- -- $ 0.06
05/03/2021 05/04/2021 05/07/2021 $ 0.0561 -- -- -- $ 0.06
04/01/2021 04/05/2021 04/08/2021 $ 0.0586 -- -- -- $ 0.06
03/01/2021 03/02/2021 03/05/2021 $ 0.0640 -- -- -- $ 0.06
02/01/2021 02/02/2021 02/05/2021 $ 0.0633 -- -- -- $ 0.06
12/29/2020 12/30/2020 01/05/2021 $ 0.0648 -- -- -- $ 0.06
12/01/2020 12/02/2020 12/07/2020 $ 0.0615 -- -- -- $ 0.06
11/02/2020 11/03/2020 11/06/2020 $ 0.0647 -- -- -- $ 0.06
10/01/2020 10/02/2020 10/07/2020 $ 0.0638 -- -- -- $ 0.06
09/01/2020 09/02/2020 09/08/2020 $ 0.0645 -- -- -- $ 0.06
08/03/2020 08/04/2020 08/07/2020 $ 0.0618 -- -- -- $ 0.06
07/01/2020 07/02/2020 07/08/2020 $ 0.0559 -- -- -- $ 0.06
06/01/2020 06/02/2020 06/05/2020 $ 0.0700 -- -- -- $ 0.07
05/01/2020 05/04/2020 05/07/2020 $ 0.0557 -- -- -- $ 0.06
04/01/2020 04/02/2020 04/07/2020 $ 0.0661 -- -- -- $ 0.07
03/02/2020 03/03/2020 03/06/2020 $ 0.0625 -- -- -- $ 0.06
02/03/2020 02/04/2020 02/07/2020 $ 0.0649 -- -- -- $ 0.06
12/30/2019 12/31/2019 01/06/2020 $ 0.0716 -- -- -- $ 0.07
12/02/2019 12/03/2019 12/06/2019 $ 0.0649 -- -- -- $ 0.06
11/01/2019 11/04/2019 11/07/2019 $ 0.0672 -- -- -- $ 0.07
10/01/2019 10/02/2019 10/07/2019 $ 0.0690 -- -- -- $ 0.07
09/03/2019 09/04/2019 09/09/2019 $ 0.0715 -- -- -- $ 0.07
08/01/2019 08/02/2019 08/07/2019 $ 0.0708 -- -- -- $ 0.07
07/01/2019 07/02/2019 07/08/2019 $ 0.0675 -- -- -- $ 0.07
06/03/2019 06/04/2019 06/07/2019 $ 0.0662 -- -- -- $ 0.07
05/01/2019 05/02/2019 05/07/2019 $ 0.0647 -- -- -- $ 0.06
04/01/2019 04/02/2019 04/05/2019 $ 0.0683 -- -- -- $ 0.07
03/01/2019 03/04/2019 03/07/2019 $ 0.0599 -- -- -- $ 0.06
02/01/2019 02/04/2019 02/07/2019 $ 0.0635 -- -- -- $ 0.06
12/27/2018 12/28/2018 01/03/2019 $ 0.0685 -- -- -- $ 0.07
12/03/2018 12/04/2018 12/07/2018 $ 0.0667 -- -- -- $ 0.07
11/01/2018 11/02/2018 11/07/2018 $ 0.0679 -- -- -- $ 0.07
10/01/2018 10/02/2018 10/05/2018 $ 0.0655 -- -- -- $ 0.07
09/04/2018 09/05/2018 09/10/2018 $ 0.0671 -- -- -- $ 0.07
08/01/2018 08/02/2018 08/07/2018 $ 0.0622 -- -- -- $ 0.06
07/02/2018 07/03/2018 07/09/2018 $ 0.0607 -- -- -- $ 0.06
06/01/2018 06/04/2018 06/07/2018 $ 0.0556 -- -- -- $ 0.06
05/01/2018 05/02/2018 05/07/2018 $ 0.0630 -- -- -- $ 0.06
04/02/2018 04/03/2018 04/06/2018 $ 0.0656 -- -- -- $ 0.07
03/01/2018 03/02/2018 03/07/2018 $ 0.0595 -- -- -- $ 0.06
02/01/2018 02/02/2018 02/07/2018 $ 0.0656 -- -- -- $ 0.07
12/27/2017 12/28/2017 01/03/2018 $ 0.0652 -- -- -- $ 0.07
12/01/2017 12/04/2017 12/07/2017 $ 0.0623 -- -- -- $ 0.06
11/01/2017 11/02/2017 11/07/2017 $ 0.0653 -- -- -- $ 0.07
10/02/2017 10/03/2017 10/06/2017 $ 0.0626 -- -- -- $ 0.06
09/01/2017 09/06/2017 09/08/2017 $ 0.0577 -- -- -- $ 0.06
08/01/2017 08/03/2017 08/07/2017 $ 0.0590 -- -- -- $ 0.06
07/03/2017 07/06/2017 07/10/2017 $ 0.0670 -- -- -- $ 0.07
06/01/2017 06/05/2017 06/07/2017 $ 0.0647 -- -- -- $ 0.06
05/01/2017 05/03/2017 05/05/2017 $ 0.0622 -- -- -- $ 0.06
04/03/2017 04/05/2017 04/07/2017 $ 0.0639 -- -- -- $ 0.06
03/01/2017 03/03/2017 03/07/2017 $ 0.0618 -- -- -- $ 0.06
02/01/2017 02/03/2017 02/07/2017 $ 0.0612 -- -- -- $ 0.06
12/28/2016 12/30/2016 01/04/2017 $ 0.0591 -- -- -- $ 0.06
12/01/2016 12/05/2016 12/07/2016 $ 0.0562 -- -- -- $ 0.06
11/01/2016 11/03/2016 11/07/2016 $ 0.0586 -- -- -- $ 0.06
10/03/2016 10/05/2016 10/07/2016 $ 0.0559 -- -- -- $ 0.06
09/01/2016 09/06/2016 09/08/2016 $ 0.0552 -- -- -- $ 0.06
08/01/2016 08/03/2016 08/05/2016 $ 0.0524 -- -- -- $ 0.05
07/01/2016 07/06/2016 07/08/2016 $ 0.0470 -- -- -- $ 0.05
06/01/2016 06/03/2016 06/07/2016 $ 0.0666 -- -- -- $ 0.07
05/02/2016 05/04/2016 05/06/2016 $ 0.0480 -- -- -- $ 0.05
04/01/2016 04/05/2016 04/07/2016 $ 0.0679 -- -- -- $ 0.07
03/01/2016 03/03/2016 03/07/2016 $ 0.0713 -- -- -- $ 0.07
02/01/2016 02/03/2016 02/05/2016 $ 0.0684 -- -- -- $ 0.07
12/29/2015 12/31/2015 01/05/2016 $ 0.0640 -- -- -- $ 0.06
12/01/2015 12/03/2015 12/07/2015 $ 0.0678 -- -- -- $ 0.07
11/02/2015 11/04/2015 11/06/2015 $ 0.0700 -- -- -- $ 0.07
10/01/2015 10/05/2015 10/07/2015 $ 0.0680 -- -- -- $ 0.07
09/01/2015 09/03/2015 09/08/2015 $ 0.0699 -- -- -- $ 0.07
08/03/2015 08/05/2015 08/07/2015 $ 0.0695 -- -- -- $ 0.07
07/01/2015 07/06/2015 07/08/2015 $ 0.0647 -- -- -- $ 0.06
06/01/2015 06/03/2015 06/05/2015 $ 0.0650 -- -- -- $ 0.07
05/01/2015 05/05/2015 05/07/2015 $ 0.0630 -- -- -- $ 0.06
04/01/2015 04/06/2015 04/08/2015 $ 0.0669 -- -- -- $ 0.07
03/02/2015 03/04/2015 03/06/2015 $ 0.0601 -- -- -- $ 0.06
02/02/2015 02/04/2015 02/06/2015 $ 0.0700 -- -- -- $ 0.07
12/29/2014 12/31/2014 01/05/2015 $ 0.0670 -- -- -- $ 0.07
12/01/2014 12/03/2014 12/05/2014 $ 0.0622 -- -- -- $ 0.06
11/03/2014 11/05/2014 11/07/2014 $ 0.0686 -- -- -- $ 0.07
10/01/2014 10/03/2014 10/07/2014 $ 0.0680 -- -- -- $ 0.07
09/02/2014 09/04/2014 09/08/2014 $ 0.0660 -- -- -- $ 0.07
08/01/2014 08/05/2014 08/07/2014 $ 0.0720 -- -- -- $ 0.07
07/01/2014 07/03/2014 07/08/2014 $ 0.0580 -- -- -- $ 0.06
06/02/2014 06/04/2014 06/06/2014 $ 0.0600 -- -- -- $ 0.06
05/01/2014 05/05/2014 05/07/2014 $ 0.0650 -- -- -- $ 0.07
04/01/2014 04/03/2014 04/07/2014 $ 0.0650 -- -- -- $ 0.07
03/03/2014 03/05/2014 03/07/2014 $ 0.0900 -- -- -- $ 0.09

‡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.

Click here to access more detailed yearend tax information

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