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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 12, 2026
  • YTD RETURNS
    1.17%

    as of August 12, 2026
  • Total Net Assets
    $313.84M

    as of August 12, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.88%
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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  08/13/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.88%

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 2.88% on 08/13/26. 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 08/12/2026

Download XLS Get holdings
Total Holdings: 326
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.06
 5.000
07/15/2031
3,324,776
Indiana Finance Authority
1.04
 5.000
02/01/2032
3,268,380
Charlotte-Mecklenburg Hospital Authorit
1.04
 5.000
01/15/2049
3,268,179
State Of California
1.02
 5.000
04/01/2030
3,213,027
Southeast Energy Authority A Cooperativ
0.96
 4.000
12/01/2051
3,025,654
Commonwealth Of Massachusetts
0.94
 5.500
05/01/2031
2,965,740
State Of New Jersey
0.90
 5.500
06/01/2030
2,838,284
State Of California
0.86
 5.000
10/01/2031
2,719,338
Kansas Development Finance Authority
0.85
 5.000
11/15/2054
2,684,545
New York City Housing Development Corp
0.81
 3.950
11/01/2064
2,563,937
Commonwealth Of Massachusetts
0.80
 5.000
10/01/2031
2,527,828
California Statewide Communities Develo
0.76
 1.750
09/01/2029
2,380,036
Black Belt Energy Gas District
0.71
 4.000
10/01/2052
2,234,064
Massachusetts Water Resources Authority
0.70
 5.250
08/01/2030
2,197,657
State Of Connecticut
0.69
 3.000
01/15/2032
2,179,750
Georgia State Road & Tollway Authority
0.69
 5.000
06/01/2032
2,169,155
Main Street Natural Gas Inc
0.69
 5.000
05/01/2054
2,168,173
State Of Maryland
0.68
 5.000
03/15/2032
2,147,940
Main Street Natural Gas Inc
0.68
 5.000
04/01/2054
2,145,231
County Of King Wa
0.68
 4.000
07/01/2030
2,140,562
Tennessee Energy Acquisition Corp
0.67
 5.000
05/01/2052
2,122,875
City & County Of Honolulu Hi
0.67
 5.000
03/01/2031
2,116,539
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,106,465
Texas Water Development Board
0.67
 5.500
10/15/2031
2,100,054
Fort Bend Independent School District
0.66
 5.000
08/15/2030
2,090,802
Conroe Independent School District
0.66
 5.000
02/15/2027
2,074,786
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,074,197
City Of Chicago Il
0.66
 5.000
01/01/2030
2,074,127
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,054,958
State Of Georgia
0.64
 5.000
02/01/2032
2,023,955
State Of California
0.64
 5.000
04/01/2032
2,010,998
Los Angeles Unified School District/Ca
0.59
 5.000
07/01/2030
1,844,635
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,830,549
State Of Connecticut Special Tax Revenu
0.58
 5.000
05/01/2031
1,830,080
State Public School Building Authority
0.56
 5.000
06/01/2032
1,777,402
State Of California
0.54
 5.000
10/01/2031
1,694,318
State Of Maryland
0.52
 5.000
03/15/2031
1,644,691
New Jersey Educational Facilities Autho
0.52
 5.000
07/01/2064
1,637,621
Wisconsin Health & Educational Faciliti
0.51
 5.000
02/15/2032
1,619,714
State Of North Carolina
0.51
 5.000
03/01/2030
1,616,148
Indiana Finance Authority
0.51
 4.250
11/01/2030
1,604,202
New York City Transitional Finance Auth
0.50
 4.000
11/01/2030
1,581,651
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,544,086
Pefa Inc
0.49
 5.000
09/01/2049
1,535,401
Main Street Natural Gas Inc
0.49
 4.000
03/01/2050
1,528,099
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,511,108
Kern High School District
0.47
 2.000
08/01/2031
1,476,785
Frisco Independent School District
0.45
 5.500
02/15/2032
1,414,726
State Of Ohio
0.43
 5.000
12/15/2031
1,363,502
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,354,063
County Of Allen Oh Hospital Facilities
0.43
 5.000
12/01/2029
1,341,188
State Of California
0.43
 5.000
08/01/2027
1,341,042
City Of Columbus Oh
0.43
 5.000
04/01/2031
1,338,844
Central Plains Energy Project
0.41
 5.000
09/01/2031
1,296,830
Main Street Natural Gas Inc
0.41
 4.000
07/01/2052
1,284,526
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,261,899
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,255,964
New York Transportation Development Cor
0.40
 5.000
12/01/2030
1,250,629
Kentucky Public Energy Authority
0.39
 4.000
08/01/2052
1,211,845
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,204,204
State Of North Carolina
0.38
 5.000
06/01/2031
1,200,946
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,174,619
State Of California
0.36
 5.000
09/01/2030
1,121,327
Minnesota Public Facilities Authority S
0.36
 5.500
03/01/2031
1,120,305
Triborough Bridge & Tunnel Authority
0.36
 5.000
11/15/2031
1,117,600
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,099,934
Commonwealth Of Massachusetts
0.35
 5.000
05/01/2030
1,097,104
Texas State Transportation Commission
0.35
 5.000
04/01/2030
1,095,874
State Of California
0.35
 5.000
10/01/2029
1,094,276
Board Of Regents Of The University Of T
0.35
 5.000
08/15/2029
1,091,200
Colorado Health Facilities Authority
0.35
 5.000
11/15/2060
1,090,067
Denton Independent School District
0.35
 5.000
08/15/2029
1,090,008
State Of Washington
0.35
 5.500
06/01/2031
1,088,914
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,085,947
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,082,098
State Of Maryland
0.34
 5.000
03/15/2029
1,081,751
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,081,621
State Of California
0.34
 5.000
09/01/2028
1,077,202
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,076,638
Main Street Natural Gas Inc
0.34
 5.500
09/01/2053
1,075,693
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,073,929
City Of Houston Tx
0.34
 5.000
03/01/2032
1,071,316
Main Street Natural Gas Inc
0.34
 5.500
07/01/2053
1,071,028
State Of North Carolina
0.34
 5.000
05/01/2031
1,070,980
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,068,824
Southeast Alabama Gas Supply District/T
0.34
 5.500
08/01/2054
1,068,419
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,068,390
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,068,130
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,067,809
City Of New York Ny
0.34
 5.000
08/01/2029
1,067,435
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,067,384
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,061,435
County Of Allen Oh Hospital Facilities
0.34
 5.000
08/01/2030
1,060,930
Minneapolis-St Paul Metropolitan Airpor
0.34
 5.000
01/01/2029
1,060,073
State Of Louisiana
0.34
 5.000
02/01/2029
1,059,471
New Jersey Health Care Facilities Finan
0.34
 5.000
07/01/2031
1,058,952
Texas Municipal Gas Acquisition & Suppl
0.34
 5.500
01/01/2054
1,057,690
New York City Transitional Finance Auth
0.34
 5.000
07/15/2031
1,056,083
University Of Connecticut
0.34
 5.000
04/15/2029
1,055,607
State Of California
0.33
 5.000
09/01/2027
1,050,679
State Of California
0.33
 5.000
10/01/2027
1,048,712
County Of Harris Tx Toll Road Revenue
0.33
 5.000
08/15/2027
1,048,403
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,048,334
Commonwealth Of Pennsylvania
0.33
 5.000
09/01/2027
1,048,154
City Of New York Ny
0.33
 5.000
09/01/2027
1,047,420
City Of New York Ny
0.33
 5.000
09/01/2027
1,047,420
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,046,977
State Of California
0.33
 5.000
11/01/2028
1,045,981
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,043,572
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,042,887
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,042,195
County Of Baltimore Md
0.33
 5.000
03/01/2030
1,040,839
State Of Illinois
0.33
 5.000
11/01/2027
1,039,958
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,039,207
Energy Northwest
0.33
 --
07/01/2027
1,032,908
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,028,129
New York State Dormitory Authority
0.33
 5.000
08/01/2030
1,027,978
Hillsboro School District No 1j
0.33
 5.000
06/15/2031
1,027,009
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2027
1,026,412
State Of California
0.33
 5.000
09/01/2026
1,023,923
West Virginia Commissioner Of Highways
0.33
 5.000
09/01/2026
1,023,733
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,022,005
San Francisco City & County Public Util
0.32
 5.500
10/01/2026
1,021,952
Louisville/Jefferson County Metropolita
0.32
 5.000
10/01/2047
1,021,532
Pennsylvania Higher Educational Facilit
0.32
 4.000
08/15/2031
1,019,952
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,018,575
Metropolitan Council
0.32
 5.500
12/01/2026
1,017,429
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,017,186
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,016,282
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,015,438
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,015,390
California State Public Works Board
0.32
 4.000
11/01/2031
1,012,878
Long Island Power Authority
0.32
 5.500
09/01/2055
1,012,731
New York City Housing Development Corp
0.32
 5.500
11/01/2064
1,011,239
State Of Connecticut
0.32
 3.000
06/01/2029
1,010,259
California Community Choice Financing A
0.32
 4.000
02/01/2052
1,007,750
State Of Minnesota
0.32
 3.000
10/01/2030
1,007,534
State Of Hawaii
0.32
 3.000
10/01/2029
1,007,519
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,007,446
New York City Housing Development Corp
0.32
 3.125
11/01/2065
1,006,313
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,003,810
State Of Florida
0.32
 3.000
06/01/2030
1,002,812
New York City Housing Development Corp
0.32
 3.150
05/01/2066
1,002,506
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
979,584
Board Of Regents Of The University Of T
0.31
 5.000
08/15/2031
976,684
State Of California
0.31
 5.000
11/01/2028
976,173
New York State Dormitory Authority
0.31
 5.000
02/15/2032
964,970
Fort Bend Independent School District
0.31
 5.000
02/15/2028
964,353
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
954,288
State Of California Department Of Water
0.30
 5.000
12/01/2031
951,784
Collin County Community College Distric
0.30
 4.000
08/15/2031
951,344
State Of Washington
0.29
 5.000
08/01/2031
900,833
Beverly Hills Unified School District C
0.28
 --
08/01/2030
895,442
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
880,981
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
863,379
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
861,343
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
858,652
California State Public Works Board
0.27
 5.000
10/01/2026
848,153
Public Finance Authority
0.27
 4.000
10/01/2041
835,154
State Of Louisiana
0.26
 5.000
03/01/2032
832,472
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
830,477
California State Public Works Board
0.26
 5.000
10/01/2028
821,710
State Of California
0.26
 5.000
10/01/2030
817,846
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
816,628
State Of Illinois
0.26
 5.000
11/01/2026
815,093
State Of North Carolina
0.25
 3.000
05/01/2031
794,096
County Of Fairfax Va
0.25
 5.000
10/01/2031
790,242
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
785,627
City Of Columbus Oh
0.25
 5.500
04/01/2029
784,636
California Health Facilities Financing
0.25
 5.000
11/15/2031
781,167
County Of Montgomery Md
0.25
 4.000
08/01/2029
780,797
State Of California
0.25
 5.000
04/01/2027
776,459
State Of Maryland Department Of Transpo
0.25
 4.000
05/01/2030
773,096
University Of Connecticut
0.24
 5.000
01/15/2030
755,103
Regional Transportation Authority
0.24
 5.000
07/01/2028
753,015
New Jersey Economic Development Authori
0.24
 3.125
07/01/2031
746,488
Energy Northwest
0.24
 5.000
07/01/2028
744,880
City Of South Miami Health Facilities A
0.24
 5.000
08/15/2029
742,622
Virginia Public Building Authority
0.23
 5.000
08/01/2029
737,523
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
737,040
California State Public Works Board
0.23
 5.000
11/01/2029
735,222
New York State Urban Development Corp
0.23
 5.000
03/15/2027
714,547
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,460
City Of New York Ny
0.22
 5.000
04/01/2032
699,459
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
691,345
State Of Illinois
0.22
 3.500
06/01/2029
689,933
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
684,785
Pennsylvania Housing Finance Agency
0.22
 2.800
10/01/2031
679,436
New York State Dormitory Authority
0.22
 5.000
03/15/2028
678,090
New Jersey Health Care Facilities Finan
0.22
 5.000
07/01/2029
677,015
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
665,526
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
659,703
King County School District No 411 Issa
0.20
 4.000
12/01/2031
640,832
New York State Environmental Facilities
0.20
 5.000
06/15/2028
638,217
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
632,919
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
632,902
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
632,575
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
624,957
State Of New York Mortgage Agency Homeo
0.20
 3.000
10/01/2031
619,549
New York State Dormitory Authority
0.20
 5.000
02/15/2032
616,221
City Of Dallas Tx Waterworks & Sewer Sy
0.19
 5.000
10/01/2031
612,802
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
608,667
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,063
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
607,868
State Of North Carolina
0.19
 5.000
05/01/2029
602,695
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
596,814
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
577,132
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
576,461
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,732
Salt River Project Agricultural Improve
0.18
 5.000
01/01/2032
556,786
State Of California
0.18
 5.000
10/01/2027
555,817
New York State Dormitory Authority
0.18
 5.000
03/15/2030
550,966
Utah Transit Authority
0.17
 5.000
12/15/2030
550,270
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
549,846
City Of New York Ny
0.17
 5.000
11/01/2030
547,113
Utah Transit Authority
0.17
 5.000
06/15/2030
545,238
County Of Jefferson Al
0.17
 5.000
09/15/2028
542,842
City Of New York Ny
0.17
 5.000
08/01/2030
541,988
Southeast Energy Authority A Cooperativ
0.17
 5.500
10/01/2030
541,326
Rutherford Cty Health & Edu Fac Brd
0.17
 5.500
11/15/2048
541,254
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
541,160
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
540,523
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
539,798
City Of New York Ny
0.17
 5.500
10/01/2031
538,912
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
537,924
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
537,683
City Of Houston Tx
0.17
 5.500
03/01/2032
537,389
California Community Choice Financing A
0.17
 5.250
01/01/2054
536,489
City Of San Francisco Ca Public Utiliti
0.17
 5.500
11/01/2028
535,690
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
534,908
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
534,384
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
534,260
California Community Choice Financing A
0.17
 5.000
02/01/2054
534,032
Shelby County Health Educational & Hous
0.17
 5.500
09/01/2049
533,540
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
533,016
State Of Maryland
0.17
 5.000
03/15/2028
530,474
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
530,078
Austin Independent School District
0.17
 5.000
08/01/2028
529,150
New York State Dormitory Authority
0.17
 5.000
02/15/2027
528,929
American Municipal Power Inc
0.17
 5.000
02/15/2028
528,441
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2031
528,178
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2032
527,506
Arizona Industrial Development Authorit
0.17
 5.500
11/01/2028
524,741
State Of California
0.17
 5.000
10/01/2027
524,356
California Health Facilities Financing
0.17
 5.000
11/01/2027
523,743
Grand River Dam Authority
0.17
 5.000
06/01/2031
523,531
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
522,611
Long Island Power Authority
0.17
 5.000
09/01/2026
522,159
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
521,849
Virginia Commonwealth Transportation Bo
0.17
 5.000
03/15/2027
521,590
State Of Michigan Trunk Line Revenue
0.17
 5.000
11/15/2027
521,472
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
520,959
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
520,944
Tennessee Energy Acquisition Corp
0.17
 5.000
05/01/2053
519,609
Illinois Finance Authority
0.17
 5.000
01/01/2028
519,415
Tobacco Settlement Financing Corp
0.17
 5.000
06/01/2031
519,340
New York State Dormitory Authority
0.16
 5.000
02/15/2027
518,558
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
518,220
New York State Urban Development Corp
0.16
 5.000
03/15/2027
517,788
State Of Maryland
0.16
 5.000
03/15/2028
517,742
Montgomery County Industrial Developmen
0.16
 5.500
10/01/2053
517,034
University Of Colorado
0.16
 4.000
06/01/2034
516,294
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,208
Lower Colorado River Authority
0.16
 5.500
05/15/2027
515,544
Butler County Unified School District N
0.16
 4.000
09/01/2030
514,185
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
514,182
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,651
Tennessee Energy Acquisition Corp
0.16
 5.625
09/01/2026
513,208
Illinois Finance Authority
0.16
 5.000
08/15/2026
512,491
City Of New York Ny
0.16
 5.000
08/01/2027
512,309
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
512,150
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
511,958
California State Public Works Board
0.16
 5.000
09/01/2026
511,954
New Jersey Health Care Facilities Finan
0.16
 5.500
09/15/2026
511,359
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
509,778
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
509,339
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
509,184
City Of Forsyth Mt
0.16
 3.875
07/01/2028
508,946
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
508,578
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
508,133
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,040
State Of Colorado
0.16
 5.000
12/15/2026
507,904
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
507,676
North Texas Tollway Authority
0.16
 5.000
01/01/2027
507,233
East County Advanced Water Purification
0.16
 3.125
09/01/2026
507,065
California Community Choice Financing A
0.16
 4.000
05/01/2053
506,878
Michigan State Housing Development Auth
0.16
 5.500
04/01/2030
506,789
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
506,175
New York State Housing Finance Agency
0.16
 5.500
11/01/2063
506,031
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
505,595
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
505,245
California State University
0.16
 3.125
11/01/2051
504,987
County Of Bexar Tx
0.16
 5.000
06/15/2027
504,969
Maryland Community Development Administ
0.16
 3.300
01/01/2029
503,992
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
503,959
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
503,945
State Of Maryland Department Of Transpo
0.16
 3.000
09/01/2031
503,250
California State Public Works Board
0.16
 3.000
09/01/2031
500,719
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
495,338
City Of San Antonio Tx Electric & Gas S
0.16
 3.150
02/01/2055
493,500
County Of Miami-Dade Fl
0.15
 --
10/01/2031
461,996
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
459,658
State Of Mississippi
0.14
 5.000
10/01/2029
449,723
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
440,585
Pennsylvania Housing Finance Agency
0.14
 3.200
10/01/2031
430,019
City Of New York Ny
0.13
 5.000
03/01/2027
424,557
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,195
Lone Star College System
0.13
 5.000
02/15/2033
409,969
State Of Michigan
0.13
 3.000
05/01/2030
409,672
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
408,694
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
386,167
County Of Wake Nc
0.12
 5.000
09/01/2026
383,931
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
381,424
University Of Utah/The
0.12
 5.000
08/01/2031
372,856
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
372,316
City Of Chicago Il
0.12
 5.000
01/01/2027
369,062
Canadian County Educational Facilities
0.11
 3.000
09/01/2029
332,246
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
326,937
Long Island Power Authority
0.10
 5.000
09/01/2031
318,496
California Health Facilities Financing
0.10
 5.000
08/15/2031
318,230
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
275,204
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
265,030
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
264,961
Texas Water Development Board
0.08
 5.000
04/15/2030
260,934
County Of Mecklenburg Nc
0.08
 2.000
12/01/2030
237,056
--
0.86
 --
--
2,693,135
Other/Cash
-0.02
 --
--
-48,465
← 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 06/30/2026

Composite % of Net Assets
Investment Grade AAA 19.34
AA 47.97
A 21.07
BBB 4.27
Total Investment Grade -- 92.65
Not Rated -- 7.35
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 06/30/2026

  • Years

    Maturity (%)

  • < 1

    15.20

  • 1 - 3

    21.60

  • 3 - 5

    36.80

  • 5 - 7

    26.40

  • 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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