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SMB VanEck Vectors AMT-Free Short Municipal Index ETF

  • Fund Description

    The VanEck Vectors AMT-Free Short Municipal Index ETF (SMB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays AMT-Free Short Continuous Municipal Index (LMT1TR), which is intended to track the overall performance of the U.S. dollar denominated short-term tax-exempt bond market.

  •  
      

    • Fund Ticker

      SMB
    • Exchange

      NYSE Arca
    • Commencement

      02/22/2008
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMT1TR
    • Index Rebalancing

      Monthly
  •  
    as of 05/05/16

    • 30-Day SEC Yield1

      0.88%
    • Total Net Assets

      $264.2M
    • Number of Holdings

      665
    • Options

      Expected
    • Gross Expense Ratio2

      0.20%
    • Net Expense Ratio/TER2

      0.20%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      05/31/2016
  • Morningstar™ Ratings3
    as of 4/30/16

    Category Overall 3 Year 5 Year
    Muni National Short
       
    3 stars of 189 Funds
        
    4 stars of 189 Funds
       
    3 stars of 172 Funds
  • Key Points

    • Tax-Free Yield
      Income generally exempt from federal taxes and the Alternative Minimum Tax (AMT)

    • Targeted Interest Rate Risk
      Designed to track an index of short-duration municipal

    • Quality
      Investment-grade index constituents with high overall credit quality
  • Yields
    as of 05/05/16

    • 30-Day SEC Yield1

      0.88%
    • Distribution Yield1

      1.11%
    • 12-Month Yield1

      1.13%
    • Taxable Equivalent 30-Day SEC Yields1a

      --
    • 15% Federal Tax Rate

      1.04%
    • 25% Federal Tax Rate

      1.18%
    • 28% Federal Tax Rate

      1.23%
    • 33% Federal Tax Rate

      1.32%
    • 39.6% Federal Tax Rate

      1.46%
     1/1a See Important Disclosure for definitions.
  • Fees and Expenses2

    • Management Fee

      0.20%
    • Other Expenses

      0.00%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.20%
    • Fee Waivers and
      Expense Reimbursement

      0.00%
    • Net Expense Ratio/TER2

      0.20%
    2The investment management agreement between VanEck Vectors ETF Trust (the “Trust”) and Van Eck Associates Corporation (the “Adviser”) provides that the Adviser will pay all expenses of the Fund, except for the fee payment under the investment management agreement, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio." See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      SMB
    • Index Total Return Ticker

      LMT1TR
    • NAV

      SMBNV
    • Intraday NAV (IIV)5

      SMBIV
    • Shares Outstanding

      14,950,000
    • Estimated Cash

      SMBEU
    • Total Cash

      SMBTC
    • CUSIP

      92189F528
    • ISIN

      US92189F5281
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 05/04/16

    • Yield to Worst

      1.00%
    • Yield to Maturity

      1.03%
    • Effective Duration (yrs)

      2.77
    • Duration to Worst (yrs)

      2.77
    • Modified Duration (yrs)

      3.01
    • Spread Duration (yrs)

      2.78
    • Years to Maturity

      4.15
    • Coupon

      4.76%
     4 See Important Disclosure for definitions.
  • Prices as of 05/05/16

    NAV/
    Last Price
    Volume
    30-Day Avg./
    Last Trading Day
    Daily Change
    NAV/
    Last Price
    YTD Change
    NAV/
    Last Price
    Premium/
    Discount
    Prem/Discount
    Distribution Charts
    NAV &
    Prem/Discount
    History
    NAV
    Chart
    SMB $17.67
    $17.66
    65,826
    41,465
    $0.00 / +0.00%
    $0.03 / +0.17%
    +1.1%
    +1.1%
    $-0.01
    -0.07%
  • View All Indices » View All ETFs » Performance History: Average Annual Total Returns* (%)

    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/22/08
    SMB (NAV) 0.32 0.28 1.18 1.95 1.02 1.80 -- 2.65
    SMB (Share Price) 0.44 0.79 1.24 2.30 0.93 1.83 -- 2.65
    LMT1TR (Index) 0.38 0.39 1.31 2.62 1.72 2.43 -- 3.26
    Performance Differential (NAV - Index) -0.06 -0.11 -0.13 -0.67 -0.70 -0.63 -- -0.61
    After Tax Held 0.32 0.28 1.18 1.95 1.02 1.80 -- 2.64
    After Tax Sold 0.22 0.28 0.83 1.60 1.07 1.71 -- 2.46
    Quarter End as of 03/31/16
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/22/08
    SMB (NAV) -0.36 0.85 0.85 1.48 0.99 1.91 -- 2.64
    SMB (Share Price) -0.25 0.80 0.80 1.49 0.87 2.03 -- 2.62
    LMT1TR (Index) -0.35 0.93 0.93 2.14 1.70 2.54 -- 3.25
    Performance Differential (NAV - Index) -0.01 -0.08 -0.08 -0.66 -0.71 -0.63 -- -0.61
    After Tax Held -0.36 0.85 0.85 1.48 0.99 1.90 -- 2.63
    After Tax Sold -0.17 0.61 0.61 1.33 1.04 1.80 -- 2.45
  • Daily Holdings »Top 10 Holdings (%)as of 04/30/16

    Total Holdings: 665
    Issuer Name
    StateWeighting (%)
    California St For Previous Issues See 13063A Foraddl Is
    CA
    6.01
    Illinois St For Issues Dtd Prior To 01/16/2010 See 4521
    IL
    2.40
    Pennsylvania St
    PA
    2.31
    Michigan Fin Auth Rev
    MI
    2.24
    Maryland St For Issues Dated Prior To 08/05/11 See 5741
    MD
    2.18
    New Jersey St Transn Tr Fd Auth
    NJ
    2.15
    California St Pub Wks Brd Lease Rev For Issues Dtd Prio
    CA
    1.82
    New York St Environmental Facs Corp St Clean Wtr& Drink
    NY
    1.81
    Connecticut St For Issues Dated Prior To 10/19/10 See 2
    CT
    1.74
    New York St Dorm Auth St Pers Income Tax Rev Forissues
    NY
    1.70
    Top 10 Total (%)24.36

    These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Geographical Weightings (%) as of 04/30/16

    • State

      % of Net Assets
    • New York

      16.3
    • California

      15.8
    • Texas

      8.3
    • Florida

      5.5
    • Maryland

      5.5
    • New Jersey

      4.4
    • Pennsylvania

      4.4
    • Illinois

      3.7
    • Washington

      3.2
    • Connecticut

      2.9
    • Michigan

      2.9
    • Georgia

      2.5
    • Ohio

      2.2
    • North Carolina

      2.1
    • Minnesota

      1.8
    • Arizona

      1.6
    • Missouri

      1.5
    • Massachusetts

      1.3
    • Oregon

      1.3
    • Wisconsin

      1.2
    • Other

      11.7
  • Currency Exposure (%)
    as of 04/30/16

    • U.S. Dollar

      99.88
    • Other/Cash

      0.12
  • Sector Weightings (%) as of 04/30/16

    • Sector

      % of Net Assets
    • State

      21.0
    • Local

      16.5
    • Transportation

      13.6
    • Special Tax

      12.8
    • Water & Sewer

      9.2
    • Leasing

      8.4
    • Power

      6.4
    • Health Care

      5.2
    • Education

      4.5
    • Industrial Revenue

      2.4
    • Solid Waste/Res Recovery

      0.0
  • Credit Quality (%)
    as of 04/30/16

    Composite % of Net Assets
    Investment Grade AAA 18.62
    AA 54.55
    A 22.73
    BBB 3.88
    Total Investment Grade -- 99.77
    Not Rated -- 0.23
    Barclays Composite Rating: A blend of a security's Moody's, S&P, and Fitch ratings. If all three agencies rate the security, the middle rating is taken. If only two agencies rate a security, the lower rating is taken. If only one agency rates a security, that rating is used. Not rated indicates that a security is rated by fewer than one of the three rating agencies. This composite is not intended to be a credit opinion.
  • Maturity (%) as of 04/30/16

    Average Portfolio Maturity: 4.15 Years