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PRB
VanEck Vectors Pre-Refunded Municipal Index ETF

  • Fund Description

    The VanEck Vectors Pre-Refunded Municipal Index ETF (PRB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays Municipal Pre-Refunded-Treasury-Escrowed Index (LMPETR), which is intended to track the overall performance of the U.S. dollar denominated pre-refunded or escrowed-to maturity tax-exempt bond market.

  •  
      

    • Fund Ticker

      PRB
    • Exchange

      NYSE Arca
    • Commencement

      02/02/2009
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMPETR
    • Index Rebalancing

      Monthly
  •  
    as of 02/23/17

    • 30-Day SEC Yield1

      1.03%
    • Total Net Assets

      $19.7M
    • Number of Holdings

      69
    • Options

      Expected
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      02/28/2017
  • Key Points

    • Tax-Free Yield with the Security of U.S. Treasuries and Government-Agency Issued Securities
      Yields typically exceeding those of Treasuries on taxable-equivalent basis, and income generally exempt from federal taxes and AMT-free constituents

    • High Credit Quality and Liquidity
      Most liquid segment of municipal bond market with the highest credit quality available*

    • Limited Interest Rate Risk
      Designed to track an index of relatively short maturity municipal bonds

    • *Issuers often choose not to pay to have a pre-refunded bond re-rated by a national rating agency such as Moody’s, S&P or Fitch. Pre-refunded bonds are typically considered the highest quality available in the muni market because the collateral carries the full faith and credit of the U.S. Treasury.
  • Yields
    as of 02/23/17

    • 30-Day SEC Yield1

      1.03%
    • Distribution Yield1

      1.01%
    • 12-Month Yield1

      0.87%
    • Taxable Equivalent 30-Day SEC Yields1a

      --
    • 15% Federal Tax Rate

      1.21%
    • 25% Federal Tax Rate

      1.37%
    • 28% Federal Tax Rate

      1.42%
    • 33% Federal Tax Rate

      1.53%
    • 39.6% Federal Tax Rate

      1.70%
     1/1a See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.24%
    • Other Expenses

      --
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.24%
    • Fee Waivers and
      Expense Reimbursement

      --
    • Net Expense Ratio/TER2

      0.24%
    2The investment management agreement between VanEck Vectors ETF Trust (the “Trust”) and Van Eck Associates Corporation (the “Adviser”) provides that the Adviser will pay all expenses of the Fund, except for the fee payment under the investment management agreement, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio." See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      PRB
    • Index Total Return Ticker

      LMPETR
    • NAV

      PRBNV
    • Intraday NAV (IIV)5

      PRBIV
    • Shares Outstanding

      800,000
    • Estimated Cash

      PRBEU
    • Total Cash

      PRBTC
    • CUSIP

      92189F510
    • ISIN

      US92189F5109
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 02/23/17

    • Yield to Worst

      1.19%
    • Yield to Maturity

      1.19%
    • Effective Duration (yrs)

      2.11
    • Duration to Worst (yrs)

      2.10
    • Modified Duration (yrs)

      2.19
    • Spread Duration (yrs)

      2.18
    • Years to Maturity

      2.43
    • Coupon

      5.21%
     4 See Important Disclosure for definitions.
  • Prices as of 02/22/17

    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
    PRB $24.58
    $24.43
    862
    365
    $0.00 / +0.01%
    $0.12 / +0.49%
    +0.7%
    +1.1%
    $-0.15
    -0.60%
  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    02/02/09
    PRB (NAV)0.53-0.230.530.130.610.30--1.07
    PRB (Share Price)0.78-0.680.78-0.240.570.21--0.97
    LMPETR (Index)0.56-0.330.56-0.050.770.76--1.47
    Performance Differential (NAV - Index)-0.030.10-0.030.18-0.16-0.46---0.40
    After Tax Held0.53-0.230.530.130.610.30--1.06
    After Tax Sold0.33-0.040.330.440.660.47--1.09
    Quarter End as of 12/31/16
    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    02/02/09
    PRB (NAV)0.15-0.760.200.200.600.39--1.01
    PRB (Share Price)0.36-1.42-0.62-0.620.440.24--0.88
    LMPETR (Index)0.27-0.96-0.08-0.080.700.76--1.42
    Performance Differential (NAV - Index)-0.120.200.280.28-0.10-0.37---0.41
    After Tax Held0.15-0.760.200.200.600.39--1.01
    After Tax Sold0.12-0.340.490.490.660.55--1.05
  • Daily HoldingsTop 10 Holdings (%)as of 01/31/17

    Total Holdings: 69
    Issuer Name
    StateWeighting (%)
    Illinois Fin Auth Rev For Issues Dtd Prior To 09/27/07
    IL
    7.62
    Fort Worth Tex Indpt Sch Dist
    TX
    4.89
    New York St Dorm Auth Revs Non St Supported Debt
    NY
    4.29
    Triborough Brdg & Tunl Auth N Y Revs
    NY
    2.96
    Keller Tex Indpt Sch Dist For Issues Dtd Prior To 10/02
    TX
    2.82
    California St Pub Wks Brd Lease Rev
    CA
    2.81
    Richmond Va Met Auth Expwy Rev
    VA
    2.80
    Massachusetts Bay Transn Auth Mass Sales Tax Rev
    MA
    2.70
    Montgomery Cnty Md
    MD
    2.68
    Oregon St Dept Administrative Svcs Lottery Rev
    OR
    2.57
    Top 10 Total (%)36.14

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

  • Geographical Weightings (%) as of 01/31/17

    • State

      % of Net Assets
    • Texas

      16.7
    • California

      11.8
    • New York

      8.2
    • Illinois

      7.6
    • Maryland

      6.2
    • Florida

      4.5
    • Oregon

      4.5
    • Ohio

      4.4
    • Massachusetts

      3.4
    • Utah

      3.4
    • North Carolina

      3.2
    • Washington

      3.1
    • Virginia

      2.8
    • Mississippi

      2.6
    • Pennsylvania

      1.6
    • Oklahoma

      1.6
    • Wisconsin

      1.5
    • New Mexico

      1.5
    • Georgia

      1.5
    • New Jersey

      1.4
    • Other

      8.5
  • Currency Exposure (%)
    as of 01/31/17

    • U.S. Dollar

      96.67
    • Other/Cash

      3.33
  • Sector Weightings (%) as of 01/31/17

    • Sector

      % of Net Assets
    • Local

      21.3
    • Education

      17.5
    • Transportation

      16.4
    • State

      9.2
    • Special Tax

      8.5
    • Health Care

      8.2
    • Power

      7.9
    • Leasing

      7.5
    • Water & Sewer

      3.6
  • Maturity (%) as of 01/31/17

    Average Portfolio Maturity: 10.72 Years