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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
    $17.08

    as of September 11, 2026
  • YTD RETURNS
    0.46%

    as of September 11, 2026
  • Total Net Assets
    $315.17M

    as of September 11, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.97%
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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  09/11/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.97%

Distribution Yield

2.90%

12 Month Yield

2.82%

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 2.97% on 09/11/26. 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) 0.41 0.28 1.11 2.02 3.29 1.17 1.47 1.99
SMB (Market Price) 0.17 0.23 0.55 1.92 3.38 1.12 1.43 1.99
ICE Short AMT-Free Broad National Municipal Index 0.40 0.30 1.12 2.02 3.27 1.17 1.64 2.37
  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 09/10/2026

Download XLS Get holdings
Total Holdings: 332
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.04
 5.000
07/15/2031
3,269,588
Charlotte-Mecklenburg Hospital Authorit
1.02
 5.000
01/15/2049
3,210,699
Indiana Finance Authority
1.02
 5.000
02/01/2032
3,208,691
State Of California
1.00
 5.000
04/01/2030
3,162,837
Southeast Energy Authority A Cooperativ
0.95
 4.000
12/01/2051
2,984,677
Commonwealth Of Massachusetts
0.93
 5.000
05/01/2031
2,924,427
State Of New Jersey
0.88
 2.000
06/01/2030
2,786,410
State Of California
0.85
 5.000
10/01/2031
2,690,248
Kansas Development Finance Authority
0.84
 5.000
11/15/2054
2,638,210
New York City Housing Development Corp
0.81
 3.950
11/01/2064
2,554,188
Commonwealth Of Massachusetts
0.79
 5.000
10/01/2031
2,488,906
California Statewide Communities Develo
0.74
 1.750
09/01/2029
2,338,398
Massachusetts Water Resources Authority
0.69
 5.250
08/01/2030
2,171,470
New Jersey Educational Facilities Autho
0.69
 5.000
07/01/2064
2,158,372
Colorado Health Facilities Authority
0.68
 5.000
11/15/2060
2,153,315
Georgia State Road & Tollway Authority
0.68
 5.000
06/01/2032
2,141,658
County Of King Wa
0.68
 4.000
07/01/2030
2,135,519
State Of Maryland
0.68
 5.000
03/15/2032
2,130,794
Main Street Natural Gas Inc
0.68
 5.000
04/01/2054
2,126,200
State Of Connecticut
0.67
 3.000
01/15/2032
2,110,004
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,108,722
Main Street Natural Gas Inc
0.67
 5.000
05/01/2054
2,096,209
Tennessee Energy Acquisition Corp
0.66
 5.000
05/01/2052
2,094,018
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,068,933
Energy Northwest
0.66
 --
07/01/2027
2,066,798
Texas Water Development Board
0.66
 4.000
10/15/2031
2,063,211
City Of Chicago Il
0.65
 5.000
01/01/2030
2,055,535
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,055,088
City & County Of Honolulu Hi
0.65
 5.000
03/01/2031
2,040,691
Fort Bend Independent School District
0.65
 5.000
08/15/2030
2,037,689
Conroe Independent School District
0.64
 5.000
02/15/2027
2,027,103
State Of Georgia
0.64
 5.000
02/01/2032
2,024,134
State Of California
0.62
 5.000
04/01/2032
1,962,364
Los Angeles Unified School District/Ca
0.58
 5.000
07/01/2030
1,828,377
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,818,039
State Of Connecticut Special Tax Revenu
0.57
 5.000
05/01/2031
1,803,244
State Public School Building Authority
0.57
 5.000
06/01/2032
1,781,039
State Of California
0.53
 5.000
10/01/2031
1,657,086
State Of Maryland
0.52
 5.000
03/15/2031
1,625,884
Connecticut State Health & Educational
0.51
 5.000
07/01/2064
1,606,946
Indiana Finance Authority
0.50
 4.250
11/01/2030
1,581,177
State Of North Carolina
0.50
 5.000
03/01/2030
1,567,041
Wisconsin Health & Educational Faciliti
0.50
 5.000
02/15/2032
1,563,541
New York City Transitional Finance Auth
0.49
 4.000
11/01/2030
1,557,768
Curators Of The University Of Missouri/
0.48
 5.000
11/01/2030
1,517,117
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,504,083
Kern High School District
0.46
 2.000
08/01/2031
1,439,190
Frisco Independent School District
0.44
 4.000
02/15/2032
1,370,157
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,357,175
State Of Ohio
0.43
 5.000
12/15/2031
1,340,175
State Of California
0.42
 5.000
08/01/2027
1,337,722
County Of Allen Oh Hospital Facilities
0.42
 5.000
12/01/2029
1,328,736
City Of Columbus Oh
0.42
 5.000
04/01/2031
1,328,206
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,266,485
Main Street Natural Gas Inc
0.40
 4.000
07/01/2052
1,260,907
Central Plains Energy Project
0.40
 5.000
09/01/2031
1,249,440
Central Florida Expressway Authority
0.39
 4.000
07/01/2031
1,239,665
New York Transportation Development Cor
0.39
 5.000
12/01/2030
1,233,603
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,204,438
Kentucky Public Energy Authority
0.38
 4.000
08/01/2052
1,203,425
State Of North Carolina
0.38
 5.000
06/01/2031
1,181,973
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,166,577
Triborough Bridge & Tunnel Authority
0.35
 5.000
11/15/2031
1,098,857
State Of California
0.35
 5.000
09/01/2030
1,098,399
Detroit City School District
0.35
 5.250
05/01/2032
1,094,879
Commonwealth Of Massachusetts
0.34
 5.000
05/01/2030
1,084,856
Connecticut State Health & Educational
0.34
 5.000
07/01/2064
1,084,742
Texas State Transportation Commission
0.34
 5.000
04/01/2030
1,084,204
Metropolitan Transportation Authority
0.34
 5.000
11/15/2030
1,083,730
State Of California
0.34
 5.000
10/01/2029
1,081,144
Clark County School District
0.34
 5.000
06/15/2032
1,080,554
Minnesota Public Facilities Authority S
0.34
 5.000
03/01/2031
1,074,426
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,073,914
State Of Maryland
0.34
 5.000
03/15/2029
1,073,289
State Of Washington
0.34
 5.000
06/01/2031
1,073,278
New York City Municipal Water Finance A
0.34
 5.000
06/15/2032
1,068,805
Fairfax County Industrial Development A
0.34
 5.000
05/15/2057
1,067,398
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,065,115
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,062,240
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,062,092
State Of North Carolina
0.34
 5.000
05/01/2031
1,062,026
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,061,461
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,060,668
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,060,481
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,058,511
County Of Allen Oh Hospital Facilities
0.34
 5.000
08/01/2030
1,057,479
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,057,395
Denton Independent School District
0.34
 5.000
08/15/2029
1,056,886
Board Of Regents Of The University Of T
0.34
 5.000
08/15/2029
1,056,600
City Of New York Ny
0.34
 5.000
08/01/2029
1,056,598
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,055,894
North Carolina Medical Care Commission
0.34
 5.000
06/01/2055
1,055,533
Minneapolis-St Paul Metropolitan Airpor
0.33
 5.000
01/01/2029
1,053,242
Texas Municipal Gas Acquisition & Suppl
0.33
 5.500
01/01/2054
1,052,336
State Of Louisiana
0.33
 5.000
02/01/2029
1,052,229
University Of Connecticut
0.33
 5.000
04/15/2029
1,051,306
Southeast Alabama Gas Supply District/T
0.33
 5.000
08/01/2054
1,050,556
New Jersey Health Care Facilities Finan
0.33
 5.000
07/01/2031
1,050,445
New York City Transitional Finance Auth
0.33
 5.000
07/15/2031
1,049,873
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,046,059
State Of California
0.33
 5.000
10/01/2027
1,045,076
State Of California
0.33
 5.000
11/01/2028
1,043,403
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,041,638
State Of California
0.33
 5.000
09/01/2028
1,041,634
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,040,796
State Of Illinois
0.33
 5.000
11/01/2027
1,040,705
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,040,546
Main Street Natural Gas Inc
0.33
 5.000
09/01/2053
1,040,319
Southern California Public Power Author
0.33
 5.000
07/01/2053
1,039,981
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,037,445
Main Street Natural Gas Inc
0.33
 5.000
07/01/2053
1,037,336
City Of Houston Tx
0.33
 5.000
03/01/2032
1,035,753
Tobacco Settlement Financing Corp
0.33
 5.000
06/01/2032
1,035,617
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,035,013
University Of Minnesota
0.33
 5.000
12/01/2031
1,034,207
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2027
1,027,150
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,026,936
Hillsboro School District No 1j
0.33
 5.000
06/15/2031
1,024,832
San Francisco City & County Public Util
0.33
 5.000
10/01/2026
1,023,759
Louisville/Jefferson County Metropolita
0.33
 5.000
10/01/2047
1,023,600
Commonwealth Of Pennsylvania
0.32
 5.000
09/01/2027
1,023,453
New York State Dormitory Authority
0.32
 5.000
08/01/2030
1,023,158
County Of Harris Tx Toll Road Revenue
0.32
 5.000
08/15/2027
1,022,987
State Of California
0.32
 5.000
09/01/2027
1,022,581
City Of New York Ny
0.32
 5.000
09/01/2027
1,021,807
City Of New York Ny
0.32
 5.000
09/01/2027
1,021,807
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,020,402
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,020,327
Metropolitan Council
0.32
 5.000
12/01/2026
1,019,100
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,018,651
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,017,558
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,016,863
California State Public Works Board
0.32
 4.000
11/01/2031
1,014,842
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,014,693
Black Belt Energy Gas District
0.32
 4.000
06/01/2051
1,006,895
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,005,327
County Of Baltimore Md
0.32
 5.000
03/01/2030
1,002,540
New York City Housing Development Corp
0.32
 3.250
11/01/2064
1,001,807
State Of Connecticut
0.32
 3.000
06/01/2029
1,000,711
State Of Hawaii
0.32
 3.000
10/01/2029
997,254
California Community Choice Financing A
0.32
 4.000
02/01/2052
996,776
Indiana Finance Authority
0.32
 5.000
06/01/2029
994,107
Long Island Power Authority
0.32
 3.000
09/01/2055
992,736
State Of Florida
0.31
 3.000
06/01/2030
991,551
New York City Housing Development Corp
0.31
 3.125
11/01/2065
987,763
State Of Minnesota
0.31
 3.000
10/01/2030
985,964
New York City Housing Development Corp
0.31
 3.150
05/01/2066
984,744
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
982,997
State Of California
0.31
 5.000
11/01/2028
966,772
State Of California Department Of Water
0.30
 5.000
12/01/2031
948,808
New York State Dormitory Authority
0.30
 5.000
02/15/2032
945,299
Board Of Regents Of The University Of T
0.30
 5.000
08/15/2031
945,004
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
942,742
Fort Bend Independent School District
0.30
 5.000
02/15/2028
939,188
Collin County Community College Distric
0.30
 4.000
08/15/2031
930,833
State Of Washington
0.28
 5.000
08/01/2031
897,488
Beverly Hills Unified School District C
0.28
 --
08/01/2030
887,695
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
878,671
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
862,529
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
862,416
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
851,856
California State Public Works Board
0.27
 5.000
10/01/2026
849,598
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
827,967
Public Finance Authority
0.26
 4.000
10/01/2041
824,589
California State Public Works Board
0.26
 5.000
10/01/2028
820,026
State Of Illinois
0.26
 5.000
11/01/2026
816,811
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
815,892
State Of California
0.26
 5.000
10/01/2030
808,530
State Of Louisiana
0.25
 5.000
03/01/2032
800,894
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
787,887
County Of Fairfax Va
0.25
 5.000
10/01/2031
786,841
City Of Columbus Oh
0.25
 5.000
04/01/2029
783,876
California Health Facilities Financing
0.25
 5.000
11/15/2031
778,758
State Of California
0.25
 5.000
04/01/2027
776,030
State Of North Carolina
0.25
 3.000
05/01/2031
775,524
County Of Montgomery Md
0.25
 4.000
08/01/2029
773,967
State Of Maryland Department Of Transpo
0.24
 4.000
05/01/2030
767,415
University Of Connecticut
0.24
 5.000
01/15/2030
755,585
Regional Transportation Authority
0.24
 5.000
07/01/2028
750,800
Energy Northwest
0.24
 5.000
07/01/2028
744,412
Virginia Public Building Authority
0.23
 5.000
08/01/2029
736,427
New Jersey Economic Development Authori
0.23
 3.125
07/01/2031
732,404
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
732,352
California State Public Works Board
0.23
 5.000
11/01/2029
727,158
City Of South Miami Health Facilities A
0.23
 5.000
08/15/2029
723,874
New York State Urban Development Corp
0.23
 5.000
03/15/2027
715,223
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,537
City Of New York Ny
0.22
 5.000
04/01/2032
694,619
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
692,512
State Of Illinois
0.22
 3.500
06/01/2029
688,975
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
683,981
New Jersey Health Care Facilities Finan
0.21
 5.000
07/01/2029
676,289
New York State Dormitory Authority
0.21
 5.000
03/15/2028
675,981
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
664,813
Pennsylvania Housing Finance Agency
0.21
 2.800
10/01/2031
662,099
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
660,801
King County School District No 411 Issa
0.20
 4.000
12/01/2031
642,186
New York State Environmental Facilities
0.20
 5.000
06/15/2028
634,351
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
633,951
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
633,133
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
630,932
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
627,126
City Of Dallas Tx Waterworks & Sewer Sy
0.20
 5.000
10/01/2031
614,346
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
609,892
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
609,052
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,741
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
603,864
State Of North Carolina
0.19
 5.000
05/01/2029
602,491
New York State Dormitory Authority
0.19
 5.000
02/15/2032
601,358
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
593,271
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
578,557
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
568,403
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,078
State Of California
0.18
 5.000
10/01/2027
553,890
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
549,791
Massachusetts Development Finance Agenc
0.17
 5.000
05/15/2055
546,975
Salt River Project Agricultural Improve
0.17
 5.000
01/01/2032
546,118
Energy Northwest
0.17
 5.000
07/01/2031
544,379
City Of New York Ny
0.17
 5.000
08/01/2030
543,994
County Of Jefferson Al
0.17
 5.000
09/15/2028
542,930
New York State Dormitory Authority
0.17
 5.000
03/15/2030
542,723
Utah Transit Authority
0.17
 5.000
12/15/2030
541,070
City Of New York Ny
0.17
 5.000
11/01/2030
538,847
Utah Transit Authority
0.17
 5.000
06/15/2030
538,149
Southeast Energy Authority A Cooperativ
0.17
 5.000
10/01/2030
534,938
Rutherford Cty Health & Edu Fac Brd
0.17
 5.000
11/15/2048
534,470
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
534,397
City Of New York Ny
0.17
 5.000
10/01/2031
534,164
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
533,560
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
532,782
City Of San Francisco Ca Public Utiliti
0.17
 5.000
11/01/2028
532,467
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
532,262
California Community Choice Financing A
0.17
 5.250
01/01/2054
531,543
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
531,441
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
531,060
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
530,510
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
529,579
State Of Maryland
0.17
 5.000
03/15/2028
528,410
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
528,410
Austin Independent School District
0.17
 5.000
08/01/2028
526,516
Grand River Dam Authority
0.17
 5.000
06/01/2031
524,342
City Of Houston Tx
0.17
 5.000
03/01/2032
524,305
Virginia Commonwealth Transportation Bo
0.17
 5.000
03/15/2027
522,658
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
522,580
State Of California
0.17
 5.000
10/01/2027
522,538
Arizona Industrial Development Authorit
0.17
 5.000
11/01/2028
522,396
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
522,233
California Health Facilities Financing
0.17
 5.000
11/01/2027
522,189
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
521,779
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
521,671
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
521,043
State Of Michigan Trunk Line Revenue
0.17
 5.000
11/15/2027
520,691
Tennessee Energy Acquisition Corp
0.16
 5.000
05/01/2053
519,486
Kentucky Public Energy Authority
0.16
 5.000
01/01/2055
519,397
Tobacco Settlement Financing Corp
0.16
 5.000
06/01/2031
518,491
Illinois Finance Authority
0.16
 5.000
01/01/2028
518,365
New York State Urban Development Corp
0.16
 5.000
03/15/2027
518,278
State Of Maryland
0.16
 5.000
03/15/2028
517,844
California Community Choice Financing A
0.16
 5.000
02/01/2054
517,473
Shelby County Health Educational & Hous
0.16
 5.000
09/01/2049
517,160
New York State Dormitory Authority
0.16
 5.000
02/15/2027
516,809
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,263
Montgomery County Industrial Developmen
0.16
 4.100
10/01/2053
516,125
Los Angeles Department Of Water & Power
0.16
 5.000
07/01/2028
515,966
Lower Colorado River Authority
0.16
 5.000
05/15/2027
514,838
American Municipal Power Inc
0.16
 5.000
02/15/2028
514,836
University Of Colorado
0.16
 4.000
06/01/2034
514,200
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
513,893
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2031
513,889
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,692
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2032
513,256
New Jersey Health Care Facilities Finan
0.16
 5.000
09/15/2026
512,414
City Of New York Ny
0.16
 5.000
08/01/2027
512,183
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
510,798
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
510,662
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
510,200
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
510,100
County Of Cook Il
0.16
 5.000
11/15/2028
510,023
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
509,561
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
508,959
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,915
State Of Colorado
0.16
 5.000
12/15/2026
508,770
North Texas Tollway Authority
0.16
 5.000
01/01/2027
508,262
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
508,108
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
506,978
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
506,945
County Of Bexar Tx
0.16
 5.000
06/15/2027
506,845
New York State Housing Finance Agency
0.16
 3.600
11/01/2063
506,679
New York State Dormitory Authority
0.16
 5.000
02/15/2027
506,676
City Of Forsyth Mt
0.16
 3.875
07/01/2028
506,513
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
506,437
Alamo Community College District
0.16
 4.000
08/15/2032
506,373
California Community Choice Financing A
0.16
 4.000
05/01/2053
505,985
California State University
0.16
 3.125
11/01/2051
505,933
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
505,891
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
505,385
Butler County Unified School District N
0.16
 4.000
09/01/2030
503,327
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
501,509
Maryland Community Development Administ
0.16
 3.300
01/01/2029
500,812
Michigan State Housing Development Auth
0.16
 3.700
04/01/2030
499,349
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
496,038
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
494,072
City Of San Antonio Tx Electric & Gas S
0.15
 3.150
02/01/2055
484,523
State Of Maryland Department Of Transpo
0.15
 3.000
09/01/2031
481,507
California State Public Works Board
0.15
 3.000
09/01/2031
478,108
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
459,027
County Of Miami-Dade Fl
0.14
 --
10/01/2031
453,383
State Of Mississippi
0.14
 5.000
10/01/2029
448,106
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
442,231
Pennsylvania Housing Finance Agency
0.13
 3.200
10/01/2031
422,042
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,896
City Of New York Ny
0.13
 5.000
03/01/2027
414,792
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
409,447
State Of Michigan
0.13
 3.000
05/01/2030
404,927
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
380,200
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
378,109
University Of Utah/The
0.12
 5.000
08/01/2031
372,254
City Of Chicago Il
0.12
 5.000
01/01/2027
369,911
Michigan State Housing Development Auth
0.11
 3.100
12/01/2031
359,513
Canadian County Educational Facilities
0.10
 3.000
09/01/2029
322,953
California Health Facilities Financing
0.10
 5.000
08/15/2031
314,153
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
312,032
Long Island Power Authority
0.10
 5.000
09/01/2031
310,843
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
271,632
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
265,140
Texas Water Development Board
0.08
 5.000
04/15/2030
259,935
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
258,239
Maryland Health & Higher Educational Fa
0.08
 --
01/01/2029
256,540
County Of Mecklenburg Nc
0.07
 2.000
12/01/2030
231,934
State Public School Building Authority
0.06
 5.000
06/01/2029
203,435
Jea Electric System Revenue
0.04
 5.000
10/01/2029
114,549
--
0.27
 --
--
839,059
Other/Cash
-0.10
 --
--
-305,398
← 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 08/31/2026

  • Sector

    % of Net Assets

  • State GO

    18.26

  • Local GO

    14.68

  • Utilities - Other

    9.99

  • Tax

    9.92

  • Hospitals

    7.03

  • Power

    6.46

  • Education

    5.78

  • Water & Sewer

    5.56

  • Transportation

    5.34

  • Leasing COPS & Appropriations

    4.81

  • Refunded

    2.77

  • Multi-Family Housing

    2.48

  • Toll & Turnpike

    2.02

  • Airport

    1.00

  • Misc

    0.92

  • Pollution Control

    0.91

  • Tobacco

    0.66

  • Single Family Housing

    0.66

  • Industrial Development Revenue

    0.39

  • Unassigned

    0.22

  • Health

    0.16

Credit Quality (%) as of 08/31/2026

Composite % of Net Assets
Investment Grade AAA 18.37
AA 49.54
A 19.14
BBB 4.31
Total Investment Grade -- 91.36
Not Rated -- 8.64
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 08/31/2026

  • Years

    Maturity (%)

  • < 1

    14.10

  • 1 - 3

    21.50

  • 3 - 5

    37.60

  • 5 - 7

    22.50

  • 7 - 10

    0.50

  • 10 - 15

    0.60

  • 15 - 20

    0.30

  • 20 - 30

    2.40

  • 30 +

    0.50

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
09/01/2026 09/01/2026 09/04/2026 $ 0.0413 -- -- -- $ 0.04
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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