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YMLP
VanEck Vectors High Income MLP ETF

Fund Description

VanEck Vectors® High Income MLP ETF (YMLP®) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Solactive High Income MLP Index (YMLPTR).

 
 

  • Fund Ticker

    YMLP
  • Exchange

    NYSE Arca
  • Commencement

    03/12/2012
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    YMLPTR
  • Index Rebalancing

    Annual

 
as of 11/20/19

  • Total Net Assets

    $33.9M
  • Number of Holdings

    15
  • Options

    Available
  • Management Fee2

    0.82%
  • Net Expense Ratio/TER2

    0.84%
  • Distribution Frequency

    Quarterly
  • Next Distribution Date

    --

Key Points

  • High Income Potential
    Underlying index targets high income MLPs with attractive yield and distribution characteristics

  • Potential for Tax-Deferred Distributions 
    Fund is taxed as a corporation, allowing for potentially tax-deferred distributions, but may underperform its index during appreciating MLP markets

  • Simplified Tax Reporting
    Fund shareholders receive Form 1099 instead of the complicated K-1s associated with direct MLP investments

Yield
as of 10/31/19

  • 30-Day SEC Yield1

    10.34%
  • Distribution Yield1

    10.91%
  • 12-Month Yield1

    9.54%
 1 See Important Disclosure for definitions.
The 30-Day SEC Yield has been adjusted to reflect estimates for return of capital that would result in a reduction of income to the 30-Day SEC Yield calculation which may cause the yield to be negative.

Fees & Expenses2

  • Management Fee

    0.82%
  • Other Expenses

    --
  • Deferred Income Tax and Franchise Tax Expenses

    0.02%
  • Net Expense Ratio

    0.84%
Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes (including accrued deferred tax liability) and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least April 1, 2020. The Fund is classified for federal income tax purposes as a taxable regular corporation or Subchapter “C” corporation. As a “C” corporation, the Fund accrues deferred income tax liability for its future tax liability associated with the capital appreciation of its investments, with certain distributions received by the Fund on equity securities of Master Limited Partnerships (“MLPs”) considered to be return of capital, and with any net operating gains. The Fund’s accrued deferred tax liability, if any, is reflected each day in the Fund’s net asset value per share and may vary greatly from year to year depending on the nature of the Fund’s investments, the performance of those investments and general market conditions. Therefore, any estimate of deferred income tax expense/(benefit) cannot be reliably predicted from year to year. State franchise taxes are separate and distinct from state income taxes. Due to the nature of the Fund’s investments, the Fund may be required to file franchise tax returns in several states. The Fund is expected to absorb net operating losses and accrue net deferred tax expense primarily related to unrealized depreciation on investments and state franchise tax liability.

Tax Accrual
as of 11/20/2019

  • Current Tax Expense

    $235,000.00
  •  

  • Net Deferred Tax Asset/(Liability) Before Valuation Allowance

    $46,386,034.71
  • Valuation Allowance

    $-46,386,034.71
  • Net Deferred Tax Asset/(Liability) After Valuation Allowance

    $0.00
  • Effective Tax Rate

    24.30%

Trading Information

  • Fund Ticker

    YMLP
  • Index Total Return Ticker

    YMLPTR
  • NAV

    YMLPNV
  • Intraday NAV (IIV)5

    YMLPIV
  • Shares Outstanding

    1,969,161
  • Estimated Cash

    YMLPEU
  • Total Cash

    YMLPTC
  • CUSIP

    92189F288
  • ISIN

    US92189F2882

 

Prices as of 11/20/19

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
YMLP $17.21
$17.24
5,422
4,858
-$0.09 / -0.53%
$-0.10 / -0.60%
+10.21%
+10.79%
$0.02
0.14%

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
03/13/12
YMLP (NAV) -0.91 -6.19 15.00 -1.89 -2.46 -18.17 -- -11.75
YMLP (Share Price) -1.36 -6.66 14.06 -2.68 -2.80 -18.31 -- -11.85
YMLPTR (Index) -0.98 -6.03 14.79 -2.75 -3.47 -19.23 -- -11.49
Performance Differential (NAV - Index) 0.07 -0.16 0.21 0.86 1.01 1.06 -- -0.26
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
03/13/12
YMLP (NAV) -0.15 -3.88 16.06 -7.67 -2.38 -18.86 -- -11.77
YMLP (Share Price) -0.27 -4.09 15.62 -7.75 -2.56 -18.92 -- -11.81
YMLPTR (Index) 0.69 -3.65 15.93 -8.43 -3.34 -20.32 -- -11.50
Performance Differential (NAV - Index) -0.84 -0.23 0.13 0.76 0.96 1.46 -- -0.27

Top 10 Holdings (%) as of 10/31/19 Daily Holdings

Total Holdings: 15
Swipe
to view
full data
Holding Name
Ticker
Shares Market Value
(US$)
% of Net
Assets
Sunoco Lp
SUN US
118,096
3,969,207 11.00
Usa Compression Partners Lp
USAC US
222,635
3,933,960 10.90
Suburban Propane Partners Lp
SPH US
160,946
3,894,893 10.79
Teekay Lng Partners Lp
TGP US
241,252
3,471,616 9.62
Gaslog Partners Lp
GLOP US
159,840
3,166,430 8.77
Ngl Energy Partners Lp
NGL US
264,865
2,979,731 8.25
Golar Lng Partners Lp
GMLP US
281,526
2,865,935 7.94
Alliance Resource Partners Lp
ARLP US
175,776
2,003,846 5.55
Black Stone Minerals Lp
BSM US
124,961
1,633,240 4.52
Enviva Partners Lp
EVA US
44,286
1,484,467 4.11
Top 10 Total (%) 81.45
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Sector Weightings (%) as of 10/31/19

  • Sector

    % of Net Assets
  • Energy

    84.4
  • Utilities

    10.8
  • Materials

    3.8
  • Other/Cash

    1.0

Currency Exposure (%)
as of 10/31/19

  • U.S. Dollar

    98.98
  • Other/Cash

    1.02

Country Weightings (%) as of 10/31/19

  • Country

    % of Net Assets
  • United States

    68.76
  • United Kingdom

    11.83
  • Bermuda

    9.62
  • Monaco

    8.77
  • Other/Cash

    1.02