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CLOI VanEck CLO ETF Please read important disclosure Close important disclosure false

CLOI
VanEck CLO ETF

CLOI
VanEck CLO ETF

  • NAV
    $52.84

    as of May 15, 2026
  • YTD RETURNS
    1.81%

    as of May 15, 2026
  • Total Net Assets
    $1.32B

    as of May 15, 2026
  • Total Expense Ratio
    0.36%
  • Inception Date
    06/21/2022
  • 30-Day SEC Yield
    5.06%
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Overview

Why CLOI

  • IG Floating Rate CLO ExposureProvides access to investment grade floating rate CLOs
  • Attractive Relative YieldYield pickup versus similarly rated corporate bonds and loans with structural credit protectionsSource: J.P. Morgan and ICE Data Services

The VanEck CLO ETF (CLOI) is an actively managed ETF, sub-advised by PineBridge Investments, seeking capital preservation and current income. It invests primarily in investment grade-rated tranches of collateralized loan obligations (“CLOs”) of any maturity.

Yields  as of  05/15/2026

Distribution Frequency

Monthly

30-Day SEC Yield

5.06%

Distribution Yield

4.96%

12 Month Yield

5.34%

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 CLO ETF would have been 5.06% on 05/15/26. 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 06/21/22
CLOI (NAV) 0.79 1.01 1.54 6.05 7.14 -- -- 7.28
CLOI (Market Price) 0.71 0.88 1.33 5.65 7.03 -- -- 7.24
J.P. Morgan CLO IG Index 0.67 1.09 1.60 5.97 7.33 -- -- 7.16
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 06/21/22
CLOI (NAV) -0.08 0.75 0.75 5.31 7.15 -- -- 7.22
CLOI (Market Price) -- 0.62 0.62 5.40 7.08 -- -- 7.20
J.P. Morgan CLO IG Index 0.15 0.92 0.92 5.53 7.41 -- -- 7.13

*Returns less than one year are not annualized.

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 05/14/2026

Download XLS Get holdings
Total Holdings: 159
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
Anchorage Capital Clo 2026-22 Ltd
4.89
 5.000
01/20/2039
64,545,040
Signal Peak Clo 4 Ltd
2.82
 5.317
10/26/2034
37,196,432
Regatta Vi Funding Ltd
2.77
 5.206
10/20/2038
36,588,993
United States Treasury Bill
2.76
 --
05/19/2026
36,485,643
Ocean Trails Clo Xv Ltd
2.66
 4.933
01/15/2039
35,188,683
Cqs Us Clo 6 Ltd
2.65
 --
03/31/2039
35,060,002
Neuberger Berman Loan Advisers Clo 38 L
2.03
 5.075
10/20/2036
26,820,829
Octagon 64 Ltd
1.90
 5.372
07/21/2037
25,118,016
Neuberger Berman Loan Advisers Clo 42 L
1.71
 5.080
07/16/2036
22,614,299
Sagard-Halseypoint Clo 10 Ltd
1.68
 5.425
10/20/2038
22,171,583
Kkr Clo 36 Ltd
1.68
 5.423
10/15/2034
22,135,980
Silver Rock Clo Ii Ltd
1.60
 5.275
01/20/2035
21,100,294
Trinitas Clo Xix Ltd
1.54
 4.785
10/20/2033
20,281,963
Sculptor Clo Xxix Ltd
1.53
 5.414
07/22/2038
20,168,882
Icg Us Clo 2025-2 Ltd
1.43
 4.925
01/18/2039
18,859,033
Trinitas Clo Xx Ltd
1.29
 5.175
07/20/2035
17,079,979
Capital Four Us Clo Ltd
1.28
 4.975
10/18/2038
16,860,068
Canyon Clo 2020-2 Ltd
1.27
 5.203
10/15/2034
16,755,648
Ozlm Xiv Ltd
1.25
 5.513
01/15/2038
16,533,683
Kkr Clo 37 Ltd
1.19
 5.325
04/20/2038
15,779,175
Sagard-Halseypoint Clo 8 Ltd
1.10
 5.053
01/30/2038
14,556,477
Bluemountain Clo Xxx Ltd
1.10
 5.273
04/15/2035
14,554,652
Lcm 39 Ltd
1.09
 5.673
10/15/2034
14,352,317
Kkr Clo 28 Ltd
1.08
 5.330
02/09/2035
14,292,673
Bluemountain Clo Xxxi Ltd
1.07
 5.275
04/19/2034
14,166,381
Signal Peak Clo 4 Ltd
1.05
 5.667
10/26/2034
13,920,105
Rockford Tower Clo 2021-3 Ltd
1.03
 5.323
01/15/2038
13,578,095
Lcm 40 Ltd
1.00
 5.823
01/15/2038
13,240,027
Sagard-Halseypoint Clo 10 Ltd
0.99
 5.725
10/20/2038
13,109,368
Bluemountain Clo Xxv Ltd
0.99
 5.023
01/15/2038
13,075,549
Trinitas Clo Xviii Ltd
0.97
 5.425
01/20/2035
12,833,206
Bain Capital Credit Clo 2021-2 Ltd
0.97
 6.780
07/16/2034
12,751,500
Rockford Tower Clo 2021-2 Ltd
0.95
 5.375
07/20/2034
12,560,314
Canyon Capital Clo 2019-2 Ltd
0.94
 5.573
10/15/2034
12,399,025
Generate Clo 22 Ltd
0.92
 5.425
07/20/2038
12,111,159
Rockford Tower Clo 2022-3 Ltd
0.91
 5.115
07/20/2037
12,056,344
Columbia Cent Clo 34 Ltd
0.91
 5.317
01/25/2038
12,047,496
Canyon Clo 2020-1 Ltd
0.88
 5.623
07/15/2034
11,566,241
Trinitas Clo Xiv Ltd
0.87
 5.767
01/25/2034
11,545,845
Arini Us Clo Iii Ltd
0.86
 5.190
01/15/2039
11,302,975
Anchorage Capital Clo 2026-22 Ltd
0.84
 5.000
01/20/2039
11,160,621
Sycamore Tree Clo 2021-1 Ltd
0.84
 5.065
01/20/2038
11,067,124
Bluemountain Clo Xxxv Ltd
0.84
 5.364
10/22/2037
11,050,641
Bain Capital Credit Clo 2017-2 Ltd
0.81
 5.067
07/25/2037
10,646,259
Symphony Clo 42 Ltd
0.81
 5.210
04/17/2037
10,645,021
Symphony Clo 42 Ltd
0.80
 --
04/17/2037
10,602,703
Sound Point Clo Xxvi Ltd
0.80
 5.587
07/20/2034
10,571,493
Rockford Tower Clo 2022-1 Ltd
0.80
 5.375
07/20/2035
10,548,375
Dryden 61 Clo Ltd
0.79
 5.260
01/17/2032
10,429,599
Sound Point Clo 2025r-1 Ltd
0.78
 5.306
02/20/2038
10,344,453
Canyon Capital Clo 2016-1 Ltd
0.76
 5.635
07/15/2031
10,085,261
Signal Peak Clo 3 Ltd
0.76
 --
04/23/2039
10,078,829
Generate Clo 9 Ltd
0.76
 5.425
01/20/2038
10,071,412
Wind River 2024-1 Clo Ltd
0.76
 --
04/20/2037
10,033,616
Bain Capital Credit Clo 2020-3 Ltd
0.76
 6.766
10/23/2034
9,994,944
Columbia Cent Clo 32 Ltd
0.75
 5.767
07/24/2034
9,916,823
Ocean Trails Clo Xi
0.75
 5.225
07/20/2034
9,846,450
Tcw Clo 2019-1 Amr Ltd
0.70
 5.605
08/16/2034
9,284,587
Sculptor Clo Xxviii Ltd
0.69
 5.625
01/20/2035
9,047,652
Bluemountain Clo Xxxiv Ltd
0.67
 5.275
04/20/2035
8,820,928
Rockford Tower Clo 2020-1 Ltd
0.66
 5.575
01/20/2036
8,692,866
Allegro Clo Xii Ltd
0.66
 5.112
07/21/2037
8,665,107
Bridge Street Clo Ii Ltd
0.65
 5.425
01/20/2039
8,598,549
Rockford Tower Clo 2021-2 Ltd
0.65
 5.625
07/20/2034
8,547,597
Anchorage Capital Clo 17 Ltd
0.60
 5.123
02/28/2038
7,904,378
Wellfleet Clo 2021-2 Ltd
0.59
 5.423
07/15/2034
7,798,576
Columbia Cent Clo 35 Ltd
0.57
 5.417
07/25/2036
7,531,191
Signal Peak Clo 4 Ltd
0.55
 7.128
10/26/2034
7,211,168
Trinitas Clo Xix Ltd
0.53
 6.625
10/20/2033
7,009,162
Bain Capital Credit Clo 2021-4 Ltd
0.50
 7.037
10/20/2034
6,612,352
Sculptor Clo Xxix Ltd
0.47
 5.034
07/22/2038
6,240,906
Invesco Us Clo 2024-1 Ltd
0.46
 --
04/15/2037
6,070,775
Canyon Capital Clo 2016-2 Ltd
0.46
 5.685
10/15/2031
6,051,409
Icg Us Clo 2021-3 Ltd
0.46
 5.775
10/20/2034
6,034,494
Wind River 2021-2 Clo Ltd
0.46
 5.275
07/20/2034
6,028,655
Ocp Clo 2019-17 Ltd
0.45
 5.075
07/20/2037
5,985,030
Bain Capital Credit Clo 2021-1 Ltd
0.45
 5.075
04/18/2034
5,977,569
Octagon 54 Ltd
0.45
 5.055
07/15/2034
5,930,218
Columbia Cent Clo 31 Ltd
0.44
 5.275
04/20/2034
5,769,285
Fort Washington Clo 2019-1
0.42
 5.375
10/20/2037
5,528,903
Brant Point Clo 2024-4 Ltd
0.42
 5.425
07/20/2037
5,527,985
Wellfleet Clo 2021-2 Ltd
0.41
 7.423
07/15/2034
5,399,092
Dryden 95 Clo Ltd
0.40
 6.706
08/20/2034
5,329,235
Canyon Capital Clo 2019-2 Ltd
0.40
 4.683
10/15/2034
5,315,352
Signal Peak Clo 9 Ltd
0.40
 5.032
01/21/2038
5,312,149
Marble Point Clo Xxii Ltd
0.40
 5.367
07/25/2034
5,217,417
Park Blue Clo 2024-V Ltd
0.39
 5.147
07/25/2037
5,120,417
Silver Point Clo 9 Ltd
0.38
 5.473
03/31/2038
5,040,620
Wehle Park Clo Ltd
0.38
 5.572
10/21/2038
5,027,653
Signal Peak Clo 5 Ltd
0.38
 --
04/25/2037
5,022,986
United States Treasury Bill
0.38
 --
06/30/2026
4,977,064
Bluemountain Clo Xxxii Ltd
0.37
 6.773
10/15/2034
4,897,102
Menlo Clo Iv Ltd
0.34
 5.000
03/20/2039
4,537,005
Midocean Credit Clo Xi Ltd
0.34
 5.175
01/18/2036
4,518,957
Bain Capital Credit Clo 2021-7 Ltd
0.34
 5.464
01/22/2035
4,509,492
Anchorage Capital Clo 17 Ltd
0.32
 5.323
02/28/2038
4,278,245
Tcw Clo 2020-1 Ltd
0.32
 5.675
04/20/2034
4,175,190
Wind River 2022-1 Clo Ltd
0.32
 5.025
07/20/2035
4,168,133
Silver Rock Clo V Ltd
0.31
 5.000
01/20/2039
4,084,483
Midocean Credit Clo Xiv Ltd
0.28
 --
04/15/2037
3,706,621
Octagon 66 Ltd
0.28
 5.652
02/16/2037
3,699,343
Lcm 39 Ltd
0.27
 6.923
10/15/2034
3,550,141
Creeksource 2024-1 Dunes Creek Clo Ltd
0.27
 5.323
01/15/2038
3,521,507
Lcm 41 Ltd
0.25
 5.373
04/15/2036
3,317,899
Trinitas Clo Xvii Ltd
0.25
 6.925
10/20/2034
3,248,276
Tcw Clo 2019-1 Amr Ltd
0.24
 7.584
08/16/2034
3,171,021
Anchorage Capital Clo 30 Ltd
0.23
 5.275
01/20/2037
3,088,849
Polus Us Clo Iii Ltd
0.23
 5.687
01/20/2039
3,071,572
Rockford Tower Clo 2019-2 Ltd
0.23
 5.656
08/20/2032
3,042,757
Signal Peak Clo 5 Ltd
0.23
 --
04/25/2037
3,018,166
Agl Core Clo 8 Ltd
0.23
 5.175
01/20/2038
3,012,350
Regatta Xvi Funding Ltd
0.23
 5.053
04/15/2039
3,004,552
Sound Point Clo Xxix Ltd
0.22
 5.267
04/25/2034
2,910,732
Midocean Credit Clo Xx
0.20
 4.905
01/20/2039
2,696,787
Aimco Clo 24 Ltd
0.20
 5.525
04/19/2038
2,673,093
Harvest Us Clo 2023-1 Ltd
0.19
 5.223
01/15/2037
2,514,127
Tcw Clo 2019-1 Amr Ltd
0.18
 4.954
08/16/2034
2,330,447
Columbia Cent Clo 34 Ltd
0.18
 5.517
01/25/2038
2,313,597
Wise Clo 2023-1 Ltd
0.17
 5.375
10/20/2038
2,261,541
Sound Point Clo Xxxi Ltd
0.16
 7.178
10/25/2034
2,167,471
Canyon Capital Clo 2019-1 Ltd
0.16
 5.103
07/15/2037
2,161,269
Whitebox Clo Iii Ltd
0.16
 5.573
10/15/2035
2,113,333
Bluemountain Clo Xxxiii Ltd
0.15
 7.425
10/20/2038
2,027,403
Palmer Square Clo 2023-2 Ltd
0.15
 5.875
07/20/2038
2,019,350
Madison Park Funding Lxiii Ltd
0.15
 5.822
07/21/2038
2,016,146
Anchorage Capital Clo 15 Ltd
0.15
 5.775
07/20/2038
2,014,748
Thl Credit Wind River 2017-3 Clo Ltd
0.15
 5.873
04/15/2035
2,014,403
Sculptor Clo Xxx Ltd
0.15
 5.725
07/20/2038
2,012,632
Polus Us Clo Ii Ltd
0.15
 8.425
07/20/2038
2,010,996
Tcw Clo 2023-1 Ltd
0.15
 5.417
03/31/2038
2,010,647
Silver Rock Clo Ii Ltd
0.15
 5.775
01/20/2035
2,010,628
Barings Clo Ltd 2024-I
0.15
 --
01/20/2039
2,008,139
Lcm 41 Ltd
0.14
 7.273
04/15/2036
1,823,726
Wind River 2021-2 Clo Ltd
0.13
 5.675
07/20/2034
1,764,203
Sculptor Clo Xxvi Ltd
0.13
 5.525
01/20/2038
1,737,059
Aimco Clo Series 2018-B
0.11
 --
04/16/2037
1,516,536
Hps Loan Management 2023-18 Ltd
0.11
 6.725
07/20/2039
1,511,181
Cbam 2017-2 Ltd
0.11
 5.792
07/17/2034
1,507,074
Columbia Cent Clo 35 Ltd
0.11
 5.667
07/25/2036
1,506,237
Signal Peak Clo 10 Ltd
0.11
 5.117
01/24/2038
1,505,399
Octagon 71 Ltd
0.10
 --
04/18/2037
1,276,307
Kkr Clo 24 Ltd
0.09
 5.017
04/20/2032
1,225,172
Lcm 39 Ltd
0.09
 10.673
10/15/2034
1,213,566
Halseypoint Clo 7 Ltd
0.09
 5.875
07/20/2038
1,208,938
Carlyle Us Clo 2021-7 Ltd
0.09
 4.873
04/15/2038
1,155,363
Sound Point Clo Xxvi Ltd
0.08
 5.107
07/20/2034
1,105,679
Dryden 104 Clo Ltd
0.08
 5.256
08/20/2034
1,088,973
Midocean Credit Clo Xiv Ltd
0.08
 --
04/15/2037
1,009,825
Wind River 2023-1 Clo Ltd
0.08
 5.717
07/25/2038
1,007,270
Sound Point Clo Xxiii
0.08
 5.105
07/15/2034
1,005,314
Anchorage Capital Clo 17 Ltd
0.08
 4.903
02/15/2038
1,005,222
Allegro Clo Xv Ltd
0.08
 4.855
04/20/2038
1,003,506
Bain Capital Credit Clo 2021-7 Ltd
0.07
 10.164
01/22/2035
982,851
Kkr Clo 27 Ltd
0.07
 9.923
01/15/2035
958,391
Regatta Xii Funding Ltd
0.05
 4.773
10/15/2037
602,764
Bluemountain Clo 2018-3 Ltd
0.04
 4.857
10/25/2030
585,138
Lcm 29 Ltd
0.02
 5.005
04/15/2031
324,751
Dryden 64 Clo Ltd
0.01
 4.907
04/18/2031
187,711
--
0.08
 --
--
1,059,373
Other/Cash
-1.44
 --
--
-19,010,598
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Country of risk is defined using the International Organization for Standardization’s (ISO) country codes which take four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the CEO, CFO, COO or General Counsel is otherwise.

Portfolio

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

Composite % of Net Assets
Investment Grade AAA 38.44
AA 38.51
A 13.70
BBB 4.76
Non-Investment Grade BB 1.46
Total Investment Grade -- 95.41
Total Non-Investment Grade -- 1.46
Not Rated -- 4.13
If more than one rating is available for an underlying security, the lowest rating 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

    3.18

  • 1 - 3

    0.00

  • 3 - 5

    0.08

  • 5 - 7

    2.33

  • 7 - 10

    38.98

  • 10 - 15

    56.15

  • 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 $ 0.2185 -- -- -- $ 0.22
04/01/2026 04/01/2026 04/07/2026 $ 0.2216 -- -- -- $ 0.22
03/02/2026 03/02/2026 03/05/2026 $ 0.2002 -- -- -- $ 0.20
02/02/2026 02/02/2026 02/05/2026 $ 0.2334 -- -- -- $ 0.23
12/29/2025 12/29/2025 12/31/2025 $ 0.2332 $ 0.0070 $ 0.0279 -- $ 0.27
11/28/2025 11/28/2025 12/03/2025 $ 0.2279 -- -- -- $ 0.23
11/03/2025 11/03/2025 11/06/2025 $ 0.2454 -- -- -- $ 0.25
10/01/2025 10/01/2025 10/06/2025 $ 0.2416 -- -- -- $ 0.24
09/02/2025 09/02/2025 09/05/2025 $ 0.2502 -- -- -- $ 0.25
08/01/2025 08/01/2025 08/06/2025 $ 0.2486 -- -- -- $ 0.25
07/01/2025 07/01/2025 07/07/2025 $ 0.2431 -- -- -- $ 0.24
06/02/2025 06/02/2025 06/05/2025 $ 0.2617 -- -- -- $ 0.26
05/01/2025 05/01/2025 05/06/2025 $ 0.2359 -- -- -- $ 0.24
04/01/2025 04/01/2025 04/04/2025 $ 0.2596 -- -- -- $ 0.26
03/03/2025 03/03/2025 03/06/2025 $ 0.2175 -- -- -- $ 0.22
02/03/2025 02/03/2025 02/06/2025 $ 0.2612 -- -- -- $ 0.26
12/27/2024 12/27/2024 12/30/2024 $ 0.2782 $ 0.0808 $ 0.0371 -- $ 0.40
12/02/2024 12/02/2024 12/05/2024 $ 0.2520 -- -- -- $ 0.25
11/01/2024 11/01/2024 11/06/2024 $ 0.2643 -- -- -- $ 0.26
10/01/2024 10/01/2024 10/04/2024 $ 0.2620 -- -- -- $ 0.26
09/03/2024 09/03/2024 09/06/2024 $ 0.3091 -- -- -- $ 0.31
08/01/2024 08/01/2024 08/06/2024 $ 0.2840 -- -- -- $ 0.28
07/01/2024 07/01/2024 07/05/2024 $ 0.3120 -- -- -- $ 0.31
06/03/2024 06/03/2024 06/06/2024 $ 0.2947 -- -- -- $ 0.29
05/01/2024 05/02/2024 05/07/2024 $ 0.2747 -- -- -- $ 0.27
04/01/2024 04/02/2024 04/05/2024 $ 0.2971 -- -- -- $ 0.30
03/01/2024 03/04/2024 03/07/2024 $ 0.2635 -- -- -- $ 0.26
02/01/2024 02/02/2024 02/07/2024 $ 0.3305 -- -- -- $ 0.33
12/27/2023 12/28/2023 12/29/2023 $ 0.2648 -- -- -- $ 0.26
12/01/2023 12/04/2023 12/07/2023 $ 0.2235 -- -- -- $ 0.22
11/01/2023 11/02/2023 11/07/2023 $ 0.2518 -- -- -- $ 0.25
10/02/2023 10/03/2023 10/06/2023 $ 0.2317 -- -- -- $ 0.23
09/01/2023 09/05/2023 09/08/2023 $ 0.2816 -- -- -- $ 0.28
08/01/2023 08/02/2023 08/10/2023 $ 0.2327 -- -- -- $ 0.23
07/03/2023 07/05/2023 07/07/2023 $ 0.2399 -- -- -- $ 0.24
06/01/2023 06/02/2023 06/07/2023 $ 0.2728 -- -- -- $ 0.27
05/01/2023 05/02/2023 05/05/2023 $ 0.2189 -- -- -- $ 0.22
04/03/2023 04/04/2023 04/10/2023 $ 0.2505 -- -- -- $ 0.25
03/01/2023 03/02/2023 03/07/2023 $ 0.1732 -- -- -- $ 0.17
02/01/2023 02/02/2023 02/07/2023 $ 0.2848 -- -- -- $ 0.28
12/28/2022 12/29/2022 12/30/2022 $ 0.2144 -- -- -- $ 0.21
12/01/2022 12/02/2022 12/07/2022 $ 0.2351 -- -- -- $ 0.24
11/01/2022 11/02/2022 11/07/2022 $ 0.1815 -- -- -- $ 0.18
10/03/2022 10/04/2022 10/07/2022 $ 0.1623 -- -- -- $ 0.16
09/01/2022 09/02/2022 09/08/2022 $ 0.1830 -- -- -- $ 0.18
08/01/2022 08/02/2022 08/05/2022 $ 0.1520 -- -- -- $ 0.15

‡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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