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MLN
VanEck Vectors AMT-Free Long Municipal Index ETF

Fund Description

The VanEck Vectors® AMT-Free Long Municipal Index ETF (MLN®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays AMT-Free Long Continuous Municipal Index (LMT3TR), which is intended to track the overall performance of the U.S. dollar denominated long-term tax-exempt bond market.

 
 

  • Fund Ticker

    MLN
  • Exchange

    Cboe
  • Commencement

    01/02/2008
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    LMT3TR
  • Index Rebalancing

    Monthly

 
as of 02/18/20

  • 30-Day SEC Yield1

    1.93%
  • Total Net Assets

    $216.1M
  • Number of Holdings

    612
  • Options

    Expected
  • Gross Expense Ratio2

    0.24%
  • Net Expense Ratio/TER2

    0.24%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    02/28/2020

Geographical Weightings (%) as of 01/31/20

  • State

    % of Net Assets
  • New York

    16.4
  • California

    16.2
  • Texas

    10.5
  • Pennsylvania

    5.7
  • Illinois

    4.3
  • Florida

    4.2
  • Massachusetts

    3.9
  • Ohio

    3.1
  • New Jersey

    2.7
  • Colorado

    2.7
  • Washington

    2.4
  • North Carolina

    2.1
  • Georgia

    2.0
  • Michigan

    1.9
  • Alabama

    1.6
  • Maryland

    1.6
  • District of Columbia

    1.5
  • Louisiana

    1.4
  • Oregon

    1.2
  • Tennessee

    1.1
  • Other

    13.6

Portfolio Composition (%)
as of 01/31/20

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.69
  • Other

    0.00
  • Cash

    0.31

Currency Exposure (%)
as of 01/31/20

  • U.S. Dollar

    99.69
  • Other/Cash

    0.31

3-YR Risk Measures*
as of 01/31/20

  • Beta vs. S&P 500 Index

    -0.04
  • Correlation vs. S&P 500 Index

    -0.11
  • Volatility (Standard Deviation)

    3.89
  • Sharpe Ratio

    1.25

Source: VanEck, FactSet

*Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6

Sector Weightings (%) as of 01/31/20

  • Sector

    % of Net Assets
  • Health Care

    19.3
  • Local

    14.9
  • Transportation

    14.1
  • Special Tax

    10.7
  • Water & Sewer

    10.5
  • Education

    8.6
  • State

    6.4
  • Housing

    5.0
  • Power

    4.7
  • Leasing

    3.5
  • Industrial Revenue

    1.4
  • Tobacco

    1.0

Credit Quality (%) as of 01/31/20

Composite % of Net Assets
Investment Grade AAA 14.67
AA 48.77
A 26.53
BBB 9.72
Non-Investment Grade BB 0.27
B 0.04
Total Investment Grade -- 99.70
Total Non-Investment Grade -- 0.30
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

Maturity (%) as of 01/31/20

 Average Portfolio Maturity: 23.50 Years