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FLTR
VanEck Vectors Investment Grade Floating Rate ETF

Fund Description

VanEck Vectors^® Investment Grade Floating Rate ETF (FLTR^®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS^® US Investment Grade Floating Rate Index (MVFLTR), which consists of U.S. dollar denominated floating rate notes issued by corporate issuers and rated investment grade.

Fund Ticker
FLTR
Exchange
NYSE Arca
Commencement

04/25/2011
ETF Structure
Physical
Administrator
Van Eck Associates
Custodian
State Street Bank and Trust Company
Index Ticker
MVFLTR
Index Rebalancing
Monthly
2019 Preliminary NAIC
Designation⁸
1

as of 11/12/19

30-Day SEC Yield¹
2.57%
Total Net Assets
$494.3M
Number of Holdings
367
Options
Expected
Gross Expense Ratio²
0.40%
Net Expense Ratio/TER²
0.14%
Distribution Frequency
Monthly
Next Distribution Date
11/29/2019

^1,2,8See Important Disclosure.

Morningstar™ Ratings³
as of 09/31/2019

Category	Overall	3 Year	5 Year
Ultrashort Bond	4 stars of 154 funds	5 stars of 154 funds	4 stars of 130 funds

Key Points

Potential to Benefit from Rising Rates⁷
Floating rate notes have variable coupons that reset periodically
Investment Grade Credit Quality
Underlying index is comprised of a non-leveraged portfolio of investment grade floating rate corporate bonds
Near-Zero Duration with Enhanced Yield Potential
Floating rate notes may offer higher yields than other short duration instruments

Yield
as of 11/12/19

30-Day SEC Yield¹
2.57%
Distribution Yield¹
--
12-Month Yield¹
3.15%

¹ See Important Disclosure for definitions.

Fees & Expenses²

Management Fee
0.35%
Other Expenses
0.05%
Acquired Fund Fees and Expenses
--
Gross Expense Ratio
0.40%
Fee Waivers and
Expense Reimbursement
-0.26%
Net Expense Ratio/TER²
0.14%

²Expenses for FLTR are capped contractually at 0.14% until September 1, 2020. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

Fund Ticker
FLTR
Index Total Return Ticker
MVFLTR
NAV
FLTRNV
Intraday NAV (IIV)⁵
FLTRIV
Shares Outstanding
19,550,000
Estimated Cash
FLTREU
Total Cash
FLTRTC
CUSIP
92189F486
ISIN
US92189F4862

⁵See IIV Details. Source: Bloomberg

Fundamentals⁴
as of 11/11/19

Yield to Worst
2.44%
Yield to Maturity
2.50%
Effective Duration (yrs)
0.05
Years to Maturity
3.06
Modified Duration (yrs)
0.12
Spread Duration (yrs)
2.47
Coupon
2.92%

⁴ See Important Disclosure for definitions.

Prices as of 11/12/19

	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
FLTR	$25.29 $25.29	97,271 103,265	$0.01 / +0.04% $0.01 / +0.02%	+5.24% +5.40%	$-0.01 -0.02%

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

Month End as of 10/31/19
Quarter End as of 09/30/19

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 04/25/11
FLTR (NAV)	0.43	0.87	5.05	3.49	2.88	2.00	--	1.59
FLTR (Share Price)	0.52	1.00	5.33	3.43	2.92	2.00	--	1.60
MVFLTR (Index)	0.45	0.91	4.93	3.68	3.15	2.34	--	2.00
Performance Differential (NAV - Index)	-0.02	-0.04	0.12	-0.19	-0.27	-0.34	--	-0.41

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 04/25/11
FLTR (NAV)	0.32	0.89	4.60	3.01	2.80	1.89	--	1.56
FLTR (Share Price)	0.37	0.94	4.78	2.85	2.78	1.78	--	1.55
MVFLTR (Index)	0.34	0.95	4.46	3.22	3.07	2.23	--	1.97
Performance Differential (NAV - Index)	-0.02	-0.06	0.14	-0.21	-0.27	-0.34	--	-0.41

*Returns less than one year are not annualized.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

The "Net Asset Value" (NAV) of a VanEck Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. VanEck Vectors ETF investors should not expect to buy or sell shares at NAV.

The "After Tax Held" represents total return after taxes on distributions and assumes shares have not been sold. "After Tax Sold" represents total return after taxes on distributions and the sale of Fund shares. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. After-tax returns are based on NAV.

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

Total Holdings: 370

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full data

	Holding Name	Coupon	Maturity	Composite Rating	Country^†	Currency	% of Net Assets
	At&T Inc	3.312	06/12/2024	BBB	United States	USD	2.00
	Goldman Sachs Group Inc/The	2.898	02/23/2023	BBB+	United States	USD	1.53
	Morgan Stanley	3.336	10/24/2023	A-	United States	USD	1.48
	Citigroup Inc	3.568	09/01/2023	A-	United States	USD	1.20
	Wells Fargo & Co	3.486	10/31/2023	A	United States	USD	1.18
	Jpmorgan Chase & Co	3.166	10/24/2023	A	United States	USD	1.18
	Hsbc Holdings Plc	3.124	05/18/2024	A+	United Kingdom	USD	1.18
	Morgan Stanley	2.883	07/22/2022	A-	United States	USD	1.17
	Goldman Sachs Group Inc/The	3.717	11/28/2023	BBB+	United States	USD	1.09
	Verizon Communications Inc	3.258	05/15/2025	BBB+	United States	USD	1.06
Top 10 Total (%)							13.07

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

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

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

Country
% of Net Assets
■
United States
59.53
■
Japan
9.17
■
United Kingdom
8.44
■
Australia
5.07
■
Germany
3.47
■
Canada
3.35
■
Switzerland
2.95
■
Netherlands
2.29
■
France
1.52
■
China
1.22
■
Spain
1.15
■
Sweden
0.71
■
Singapore
0.50
■
South Korea
0.22
■
Italy
0.19
■
Finland
0.10
■
Norway
0.06
■
Other/Cash
0.06

Currency Exposure (%)

as of 10/31/19

U.S. Dollar
99.94
Other/Cash
0.06

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

Sector
% of Net Assets
■
Financial
74.9
■
Communications
6.9
■
Consumer, Cyclical
5.0
■
Consumer, Non-cyclical
4.4
■
Technology
2.7
■
Energy
2.5
■
Industrial
2.1
■
Utilities
1.3
■
Basic Materials
0.1
■
Other/Cash
0.1

Credit Quality (%) as of 10/31/19

Composite		% of Net Assets
Investment Grade	AAA	0.32
	AA	16.17
	A	59.20
	BBB	24.31
Total Investment Grade	--	100.00

Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 10/31/19

Average Portfolio Maturity: 3.07 Years

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