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SMB
VanEck Vectors AMT-Free Short Municipal Index ETF

  • Fund Description

    The VanEck Vectors® AMT-Free Short Municipal Index ETF (SMB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays AMT-Free Short Continuous Municipal Index (LMT1TR), which is intended to track the overall performance of the U.S. dollar denominated short-term tax-exempt bond market.

  •  
      

    • Fund Ticker

      SMB
    • Exchange

      NYSE Arca
    • Commencement

      02/22/2008
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMT1TR
    • Index Rebalancing

      Monthly
  •  
    as of 10/17/17

    • 30-Day SEC Yield1

      1.15%
    • Total Net Assets

      $247.1M
    • Number of Holdings

      676
    • Options

      Expected
    • Gross Expense Ratio2

      0.20%
    • Net Expense Ratio/TER2

      0.20%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      10/31/2017
  • Portfolio Composition (%)
    as of 10/17/17

    • % of Net Assets
    • Stocks

      0.00
    • Bonds

      99.79
    • Other

      0.00
    • Cash

      0.21
  • Download All Fund Holdings »Daily Holdings (%) as of 10/17/17

    Total Holdings: 676
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    State
    Currency
    % of Net
    Assets
    New York State Thruway Authority
    5.000
    05/01/2019
    A-
    NY
    USD
    1.19
    Bay Area Toll Authority
    1.875
    04/01/2047
    AA-
    CA
    USD
    0.92
    State Of Maryland
    4.500
    08/01/2019
    AAA
    MD
    USD
    0.87
    State Of Washington
    5.000
    07/01/2023
    AA+
    WA
    USD
    0.81
    State Of California
    5.000
    09/01/2020
    AA-
    CA
    USD
    0.70
    New York State Dormitory Authority
    5.000
    07/01/2022
    A+
    NY
    USD
    0.69
    State Of Georgia
    5.000
    07/01/2019
    AAA
    GA
    USD
    0.66
    State Of New Mexico Severance Tax Perma
    4.000
    07/01/2023
    AA-
    NM
    USD
    0.64
    State Of Maryland
    5.000
    06/01/2022
    AAA
    MD
    USD
    0.60
    California State Public Works Board
    5.000
    09/01/2023
    A+
    CA
    USD
    0.59
    City Of New York Ny
    5.000
    08/01/2022
    AA
    NY
    USD
    0.57
    State Of North Carolina
    4.000
    05/01/2021
    AAA
    NC
    USD
    0.54
    Orange County Sanitation District
    2.000
    12/15/2018
    AAA
    CA
    USD
    0.54
    Harris County-Houston Sports Authority
    5.000
    11/15/2020
    A-
    TX
    USD
    0.52
    City Of New York Ny
    5.000
    08/01/2019
    AA
    NY
    USD
    0.50
    State Of Kansas Department Of Transport
    5.000
    09/01/2022
    AA+
    KS
    USD
    0.49
    State Of California
    5.000
    09/01/2023
    AA-
    CA
    USD
    0.49
    City Of St Louis Mo Airport Revenue
    5.000
    07/01/2023
    A-
    MO
    USD
    0.49
    Brevard County School District
    5.000
    07/01/2023
    AA-
    FL
    USD
    0.48
    New York City Transitional Finance Auth
    5.000
    11/01/2022
    AA+
    NY
    USD
    0.48
    District Of Columbia
    5.000
    06/01/2021
    AA
    DC
    USD
    0.48
    City Of New York Ny
    5.000
    08/01/2022
    AA
    NY
    USD
    0.47
    State Of Connecticut Special Tax Revenu
    5.000
    09/01/2020
    AA-
    CT
    USD
    0.47
    Texas Municipal Gas Acquisition & Suppl
    5.000
    12/15/2020
    BBB+
    TX
    USD
    0.46
    City Of Cincinnati Oh
    5.000
    12/01/2020
    AA-
    OH
    USD
    0.46
    Spring Branch Independent School Distri
    5.000
    02/01/2021
    AAA
    TX
    USD
    0.46
    Michigan Finance Authority
    5.000
    08/01/2022
    A
    MI
    USD
    0.46
    Commonwealth Of Pennsylvania
    5.000
    01/15/2021
    AA-
    PA
    USD
    0.46
    City Of New Orleans La
    5.000
    12/01/2020
    A-
    LA
    USD
    0.46
    City Of Glendale Az Water & Sewer Reven
    5.000
    07/01/2020
    AA-
    AZ
    USD
    0.45
    City Of New York Ny
    5.000
    08/01/2020
    AA
    NY
    USD
    0.45
    City Of New York Ny
    5.000
    08/01/2020
    AA
    NY
    USD
    0.45
    Alaska Municipal Bond Bank Authority
    4.000
    12/01/2021
    AA
    AK
    USD
    0.45
    State Of California
    4.000
    02/01/2019
    AA-
    CA
    USD
    0.45
    Tobacco Settlement Financing Corp/La
    5.000
    05/15/2020
    AAA
    LA
    USD
    0.45
    State Of Illinois
    5.000
    06/01/2021
    BBB
    IL
    USD
    0.44
    Commonwealth Of Massachusetts
    5.000
    07/01/2023
    AA
    MA
    USD
    0.44
    New Jersey Transportation Trust Fund Au
    5.000
    12/15/2019
    A-
    NJ
    USD
    0.44
    City Of Columbus Oh
    5.000
    07/01/2019
    AAA
    OH
    USD
    0.44
    State Of Ohio
    5.000
    09/01/2021
    AA+
    OH
    USD
    0.43
    City Of Austin Tx Water & Wastewater Sy
    5.000
    05/15/2022
    AA-
    TX
    USD
    0.43
    State Of Washington
    5.000
    07/01/2022
    AA+
    WA
    USD
    0.43
    Alabama Federal Aid Highway Finance Aut
    5.000
    09/01/2019
    AA-
    AL
    USD
    0.43
    State Of Ohio
    3.000
    05/01/2020
    AA+
    OH
    USD
    0.42
    Los Angeles Department Of Water & Power
    5.000
    12/01/2018
    AA-
    CA
    USD
    0.42
    Monroe County Development Authority
    2.350
    10/01/2048
    A
    GA
    USD
    0.41
    University Of California
    1.400
    05/15/2046
    AA
    CA
    USD
    0.41
    State Of Maryland
    5.000
    08/01/2022
    AAA
    MD
    USD
    0.41
    New York State Dormitory Authority
    4.000
    03/15/2021
    AA+
    NY
    USD
    0.40
    New York State Dormitory Authority
    4.000
    03/15/2020
    AA+
    NY
    USD
    0.40
    Citizens Property Insurance Corp
    5.000
    06/01/2020
    A+
    FL
    USD
    0.39
    State Of California
    5.000
    11/01/2021
    AA-
    CA
    USD
    0.39
    New Jersey Transportation Trust Fund Au
    5.000
    06/15/2020
    A-
    NJ
    USD
    0.39
    Richmond County Board Of Education
    5.000
    10/01/2021
    AA+
    GA
    USD
    0.38
    Commonwealth Of Pennsylvania
    5.000
    10/15/2019
    AA-
    PA
    USD
    0.38
    New York State Urban Development Corp
    5.000
    03/15/2023
    AA+
    NY
    USD
    0.38
    State Of New Jersey
    5.000
    06/01/2022
    A-
    NJ
    USD
    0.38
    County Of Allegheny Pa
    5.000
    12/01/2019
    A+
    PA
    USD
    0.37
    State Of Illinois
    5.000
    06/01/2019
    BBB
    IL
    USD
    0.37
    State Of California
    5.000
    10/01/2022
    AA-
    CA
    USD
    0.36
    New York State Dormitory Authority
    5.000
    02/15/2022
    AA+
    NY
    USD
    0.36
    State Of Texas
    4.000
    10/01/2019
    AAA
    TX
    USD
    0.36
    State Of Minnesota
    5.000
    08/01/2022
    AA+
    MN
    USD
    0.36
    University Of Minnesota
    5.000
    12/01/2022
    AA
    MN
    USD
    0.36
    State Of California
    5.000
    10/01/2022
    AA-
    CA
    USD
    0.36
    Texas State University System
    5.000
    03/15/2022
    AA
    TX
    USD
    0.36
    State Of Georgia
    5.000
    02/01/2022
    AAA
    GA
    USD
    0.35
    State Of Rhode Island
    5.000
    08/01/2019
    AA
    RI
    USD
    0.35
    Commonwealth Of Pennsylvania
    5.000
    09/15/2022
    AA-
    PA
    USD
    0.35
    New Jersey Transportation Trust Fund Au
    5.000
    06/15/2022
    A-
    NJ
    USD
    0.35
    Massachusetts Development Finance Agenc
    5.000
    07/01/2021
    A-
    MA
    USD
    0.35
    Michigan Finance Authority
    5.000
    07/01/2021
    A
    MI
    USD
    0.35
    State Of Illinois
    5.000
    02/01/2020
    BBB
    IL
    USD
    0.35
    California State Public Works Board
    5.000
    11/01/2020
    A+
    CA
    USD
    0.35
    County Of Orange Fl Sales Tax Revenue
    5.000
    01/01/2021
    AA
    FL
    USD
    0.34
    State Of Tennessee
    5.000
    08/01/2020
    AAA
    TN
    USD
    0.34
    New York State Thruway Authority
    5.000
    01/01/2020
    A
    NY
    USD
    0.33
    Fort Mill School District No 4
    5.000
    03/01/2023
    AA
    SC
    USD
    0.33
    Metropolitan Transportation Authority
    5.000
    11/15/2022
    A+
    NY
    USD
    0.33
    State Of Georgia
    5.000
    07/01/2021
    AAA
    GA
    USD
    0.33
    California State Public Works Board
    5.000
    06/01/2021
    A+
    CA
    USD
    0.33
    Pennsylvania Higher Educational Facilit
    5.000
    08/15/2021
    AA-
    PA
    USD
    0.32
    State Of Ohio
    5.000
    11/01/2022
    AA+
    OH
    USD
    0.32
    State Of Delaware
    5.000
    07/01/2023
    AAA
    DE
    USD
    0.32
    City Of Houston Tx Combined Utility Sys
    5.000
    05/15/2020
    AA
    TX
    USD
    0.32
    California Health Facilities Financing
    5.000
    07/01/2043
    A+
    CA
    USD
    0.32
    State Of Texas
    5.000
    10/01/2020
    AAA
    TX
    USD
    0.32
    County Of Montgomery Md
    5.000
    11/01/2022
    AAA
    MD
    USD
    0.32
    Kentucky Asset Liability Commission
    5.250
    09/01/2022
    A+
    KY
    USD
    0.31
    New York City Transitional Finance Auth
    5.000
    11/01/2019
    AA+
    NY
    USD
    0.31
    New York State Dormitory Authority
    5.000
    03/15/2020
    AA+
    NY
    USD
    0.31
    County Of Jackson Mo
    5.000
    12/01/2019
    AA
    MO
    USD
    0.31
    New York State Dormitory Authority
    4.000
    07/01/2020
    A-
    NY
    USD
    0.31
    Albuquerque Bernalillo County Water Uti
    5.000
    07/01/2021
    AA
    NM
    USD
    0.31
    Municipality Of Anchorage Ak
    5.000
    09/01/2019
    AA+
    AK
    USD
    0.31
    Jea Electric System Revenue
    5.000
    10/01/2019
    AA-
    FL
    USD
    0.30
    Omaha Public Power District
    5.000
    02/01/2021
    AA
    NE
    USD
    0.30
    State Of California Department Of Water
    5.000
    05/01/2021
    AA
    CA
    USD
    0.29
    State Of New Mexico Severance Tax Perma
    5.000
    07/01/2021
    AA-
    NM
    USD
    0.29
    Oregon State Lottery
    5.000
    04/01/2023
    AA+
    OR
    USD
    0.29
    City Of Los Angeles Ca Wastewater Syste
    5.000
    06/01/2019
    AA-
    CA
    USD
    0.29
    New York State Dormitory Authority
    5.000
    02/15/2023
    AA+
    NY
    USD
    0.29
    Plano Independent School District
    5.000
    02/15/2022
    AAA
    TX
    USD
    0.28
    University Of Kentucky
    5.000
    10/01/2021
    AA
    KY
    USD
    0.28
    County Of Orange Fl Sales Tax Revenue
    5.000
    01/01/2020
    AA
    FL
    USD
    0.28
    Pennsylvania Economic Development Finan
    5.000
    01/01/2019
    AA+
    PA
    USD
    0.27
    University Of Kentucky
    5.250
    10/01/2020
    AA
    KY
    USD
    0.27
    Northwest Independent School District
    5.000
    02/15/2023
    AAA
    TX
    USD
    0.27
    County Of Monroe Ny
    5.000
    06/01/2019
    A-
    NY
    USD
    0.27
    Kentucky State Property & Building Comm
    5.000
    11/01/2022
    A+
    KY
    USD
    0.27
    County Of Pima Az
    4.000
    07/01/2023
    AA-
    AZ
    USD
    0.27
    City Of Baltimore Md
    5.000
    10/15/2020
    AA
    MD
    USD
    0.27
    Scago Educational Facilities Corp For P
    5.000
    12/01/2021
    A
    SC
    USD
    0.27
    Kansas Development Finance Authority
    5.000
    04/01/2022
    A+
    KS
    USD
    0.27
    New Jersey Economic Development Authori
    5.000
    11/01/2019
    BBB+
    NJ
    USD
    0.27
    State Of Ohio
    5.000
    09/15/2021
    AA+
    OH
    USD
    0.26
    City Of Dallas Tx
    5.000
    02/15/2021
    AA
    TX
    USD
    0.26
    Virginia College Building Authority
    5.000
    02/01/2022
    AA+
    VA
    USD
    0.26
    University Of Texas System/The
    5.000
    08/15/2021
    AAA
    TX
    USD
    0.25
    Michigan Finance Authority
    4.000
    08/01/2020
    A
    MI
    USD
    0.25
    New Jersey Transportation Trust Fund Au
    5.000
    06/15/2020
    A-
    NJ
    USD
    0.25
    State Of Minnesota
    3.000
    08/01/2021
    AA+
    MN
    USD
    0.25
    Houston Independent School District
    5.000
    02/15/2022
    AAA
    TX
    USD
    0.25
    State Of Texas
    5.000
    04/01/2020
    AAA
    TX
    USD
    0.25
    City Of Madison Wi
    4.000
    10/01/2022
    --
    WI
    USD
    0.25
    New Jersey Economic Development Authori
    5.000
    03/01/2023
    A-
    NJ
    USD
    0.25
    New Jersey Economic Development Authori
    5.000
    03/01/2022
    A-
    NJ
    USD
    0.25
    Springfield School District No R-12
    5.000
    03/01/2022
    AAA
    MO
    USD
    0.24
    Miami-Dade County Expressway Authority
    5.000
    07/01/2021
    A
    FL
    USD
    0.24
    New York State Environmental Facilities
    5.000
    06/15/2020
    AA+
    NY
    USD
    0.24
    State Of New Mexico
    5.000
    03/01/2023
    AA
    NM
    USD
    0.24
    Los Angeles County Metropolitan Transpo
    5.000
    07/01/2021
    AA+
    CA
    USD
    0.24
    University Of Michigan
    5.000
    04/01/2023
    AAA
    MI
    USD
    0.24
    Oakland Unified School District/Alameda
    5.000
    08/01/2021
    A+
    CA
    USD
    0.24
    District Of Columbia
    5.000
    06/01/2021
    AA
    DC
    USD
    0.24
    State Of Wisconsin
    5.000
    11/01/2022
    AA
    WI
    USD
    0.24
    City Of Fort Worth Tx
    5.000
    03/01/2023
    AA
    TX
    USD
    0.24
    District Of Columbia
    5.000
    06/01/2022
    AA
    DC
    USD
    0.24
    City Of Austin Tx Water & Wastewater Sy
    5.000
    11/15/2022
    AA-
    TX
    USD
    0.24
    State Of North Carolina
    5.000
    03/01/2023
    A+
    NC
    USD
    0.24
    State Of Minnesota
    5.000
    08/01/2022
    AA+
    MN
    USD
    0.24
    County Of Baltimore Md
    5.000
    08/01/2022
    AAA
    MD
    USD
    0.24
    State Of Maryland
    5.000
    08/01/2021
    AAA
    MD
    USD
    0.24
    Pennsylvania State University
    5.000
    09/01/2022
    AA
    PA
    USD
    0.24
    Oklahoma Development Finance Authority
    5.000
    08/15/2022
    AA-
    OK
    USD
    0.24
    Long Island Power Authority
    5.000
    09/01/2022
    A-
    NY
    USD
    0.24
    State Of Nevada
    5.000
    11/01/2021
    AA
    NV
    USD
    0.24
    County Of Jefferson Al
    5.000
    09/15/2022
    A+
    AL
    USD
    0.24
    County Of Hillsborough Fl
    5.000
    11/01/2021
    AA-
    FL
    USD
    0.24
    Chicago Transit Authority
    5.000
    06/01/2023
    BBB+
    IL
    USD
    0.24
    Chicago O'Hare International Airport
    5.000
    01/01/2022
    A
    IL
    USD
    0.23
    State Of Minnesota 911 Services Revenue
    5.000
    06/01/2021
    AA
    MN
    USD
    0.23
    New York State Dormitory Authority
    5.000
    03/15/2019
    AA+
    NY
    USD
    0.23
    Texas A&M University
    5.000
    05/15/2021
    AAA
    TX
    USD
    0.23
    Commonwealth Of Pennsylvania
    5.000
    01/15/2023
    AA-
    PA
    USD
    0.23
    State Of California
    5.000
    09/01/2021
    AA-
    CA
    USD
    0.23
    Virginia Resources Authority
    5.000
    10/01/2021
    AAA
    VA
    USD
    0.23
    Chicago Transit Authority
    5.000
    06/01/2022
    BBB+
    IL
    USD
    0.23
    Philadelphia Gas Works Co
    5.000
    08/01/2021
    BBB+
    PA
    USD
    0.23
    City Of Dallas Tx
    5.000
    02/15/2022
    AA
    TX
    USD
    0.23
    State Of Connecticut
    5.000
    10/15/2022
    AA-
    CT
    USD
    0.23
    Georgia State Road & Tollway Authority
    5.000
    06/01/2021
    A+
    GA
    USD
    0.23
    Port Authority Of New York & New Jersey
    5.000
    12/01/2020
    AA-
    NY
    USD
    0.23
    Contra Costa Transportation Authority
    5.000
    03/01/2021
    AA+
    CA
    USD
    0.23
    State Of Connecticut
    5.000
    05/15/2021
    AA-
    CT
    USD
    0.23
    City Of Houston Tx Combined Utility Sys
    5.000
    11/15/2020
    AA
    TX
    USD
    0.23
    Houston Independent School District
    5.000
    02/15/2021
    AAA
    TX
    USD
    0.23
    Michigan Finance Authority
    5.000
    04/01/2020
    A-
    MI
    USD
    0.23
    State Of Hawaii
    5.000
    04/01/2021
    AA
    HI
    USD
    0.23
    Virginia Commonwealth Transportation Bo
    5.000
    05/15/2020
    AA+
    VA
    USD
    0.23
    Commonwealth Of Massachusetts
    5.000
    08/01/2020
    AA+
    MA
    USD
    0.23
    City Of Lincoln Ne Electric System Reve
    5.000
    09/01/2020
    AA
    NE
    USD
    0.23
    City Of New York Ny
    5.000
    08/01/2020
    AA
    NY
    USD
    0.23
    Bi-State Development Agency Of The Miss
    5.000
    10/01/2020
    AA
    MO
    USD
    0.23
    New Jersey Economic Development Authori
    5.000
    06/15/2019
    A-
    NJ
    USD
    0.22
    Michigan Finance Authority
    5.000
    07/01/2020
    A-
    MI
    USD
    0.22
    State Of Illinois
    5.000
    02/01/2023
    BBB
    IL
    USD
    0.22
    New York State Dormitory Authority
    5.000
    02/15/2020
    AA+
    NY
    USD
    0.22
    City Of New York Ny
    4.000
    08/01/2022
    AA
    NY
    USD
    0.22
    City Of Dallas Tx
    5.000
    02/15/2020
    AA
    TX
    USD
    0.22
    Washington Suburban Sanitary Commission
    4.000
    06/01/2020
    AAA
    MD
    USD
    0.22
    New York State Dormitory Authority
    5.000
    02/15/2021
    AA+
    NY
    USD
    0.22
    Trinity River Authority Central Regiona
    3.000
    08/01/2022
    AA+
    TX
    USD
    0.22
    State Of Florida Lottery Revenue
    5.000
    07/01/2023
    AA
    FL
    USD
    0.22
    Texas Transportation Commission State H
    5.000
    10/01/2019
    AAA
    TX
    USD
    0.22
    State Of New Jersey
    5.000
    06/01/2022
    A
    NJ
    USD
    0.22
    State Of Ohio
    5.000
    12/15/2018
    AA
    OH
    USD
    0.22
    Virginia College Building Authority
    5.000
    02/01/2019
    AA+
    VA
    USD
    0.21
    State Of California
    5.000
    10/01/2022
    AA-
    CA
    USD
    0.21
    State Of Connecticut
    3.000
    11/01/2020
    AA-
    CT
    USD
    0.21
    Idaho Health Facilities Authority
    5.000
    12/01/2021
    AA-
    ID
    USD
    0.21
    State Of Washington
    5.000
    09/01/2020
    A+
    WA
    USD
    0.21
    Pennsylvania Economic Development Finan
    5.000
    07/01/2019
    AA+
    PA
    USD
    0.21
    State Of Florida
    5.000
    06/01/2021
    AA+
    FL
    USD
    0.21
    University Of Illinois
    5.000
    08/15/2020
    A+
    IL
    USD
    0.21
    State Of Ohio
    5.000
    09/15/2019
    AA+
    OH
    USD
    0.21
    Missouri Highway & Transportation Commi
    5.000
    05/01/2019
    AAA
    MO
    USD
    0.21
    New Jersey Educational Facilities Autho
    5.000
    06/15/2022
    A-
    NJ
    USD
    0.21
    County Of Prince George's Md
    4.000
    03/01/2020
    AAA
    MD
    USD
    0.21
    Bay Area Toll Authority
    2.000
    04/01/2034
    AA-
    CA
    USD
    0.21
    Clear Creek Independent School District
    3.000
    02/15/2032
    AAA
    TX
    USD
    0.20
    State Of Hawaii
    5.000
    11/01/2021
    AA
    HI
    USD
    0.20
    Michigan Strategic Fund
    1.450
    09/01/2030
    A+
    MI
    USD
    0.20
    King County School District No 414 Lake
    5.000
    12/01/2018
    AA+
    WA
    USD
    0.20
    University Of California
    5.000
    05/15/2021
    AA
    CA
    USD
    0.20
    Metropolitan Transportation Authority
    3.000
    11/15/2018
    A+
    NY
    USD
    0.20
    City & County Of Honolulu Hi
    5.000
    11/01/2033
    AA+
    HI
    USD
    0.19
    City Of Austin Tx
    5.000
    09/01/2022
    AAA
    TX
    USD
    0.19
    State Of Minnesota
    5.000
    10/01/2022
    AA+
    MN
    USD
    0.19
    State Of Connecticut
    5.000
    03/15/2023
    AA-
    CT
    USD
    0.19
    New Jersey Transportation Trust Fund Au
    5.000
    06/15/2020
    A-
    NJ
    USD
    0.19
    University Of North Texas
    5.000
    04/15/2022
    AA
    TX
    USD
    0.19
    County Of Baltimore Md
    5.000
    08/01/2021
    AAA
    MD
    USD
    0.19
    Utah Transit Authority
    5.000
    06/15/2022
    A+
    UT
    USD
    0.18
    Northside Independent School District
    2.000
    08/01/2044
    AAA
    TX
    USD
    0.18
    Philadelphia Gas Works Co
    5.000
    08/01/2020
    BBB+
    PA
    USD
    0.18
    Commonwealth Of Massachusetts Federal H
    5.000
    06/15/2022
    AA+
    MA
    USD
    0.18
    Illinois Finance Authority
    4.000
    01/01/2023
    AAA
    IL
    USD
    0.18
    Beaufort County School District/Sc
    5.000
    03/01/2020
    AA
    SC
    USD
    0.18
    State Of Nevada
    5.000
    04/01/2020
    AA
    NV
    USD
    0.18
    Pennsylvania Economic Development Finan
    4.000
    02/01/2020
    A+
    PA
    USD
    0.18
    State Of California Department Of Water
    5.000
    12/01/2021
    AA-
    CA
    USD
    0.17
    Houston Independent School District
    5.000
    02/15/2023
    AAA
    TX
    USD
    0.17
    State Of Ohio
    5.000
    05/01/2023
    AA+
    OH
    USD
    0.17
    City Of New York Ny
    5.000
    08/01/2020
    AA
    NY
    USD
    0.17
    Johnson County Unified School District
    5.000
    09/01/2022
    AA
    KS
    USD
    0.17
    County Of Mecklenburg Nc
    5.000
    12/01/2021
    AAA
    NC
    USD
    0.17
    Royal Oak Hospital Finance Authority
    5.000
    09/01/2019
    A
    MI
    USD
    0.16
    City Of Charlotte Nc Water & Sewer Syst
    5.000
    07/01/2022
    AAA
    NC
    USD
    0.16
    New Mexico Finance Authority
    5.000
    06/15/2022
    AA+
    NM
    USD
    0.16
    Metropolitan Transportation Authority
    5.000
    11/15/2021
    A+
    NY
    USD
    0.16
    Regional Transportation District
    5.000
    06/01/2020
    A
    CO
    USD
    0.16
    State Of Illinois
    5.000
    06/01/2022
    BBB
    IL
    USD
    0.16
    Florida Department Of Environmental Pro
    5.000
    07/01/2020
    AA-
    FL
    USD
    0.16
    New York City Transitional Finance Auth
    5.000
    02/01/2020
    AA+
    NY
    USD
    0.16
    South Carolina Public Service Authority
    5.000
    12/01/2019
    A+
    SC
    USD
    0.16
    Alabama Public School & College Authori
    5.000
    02/01/2022
    AA
    AL
    USD
    0.15
    California State University
    5.000
    11/01/2021
    AA-
    CA
    USD
    0.15
    Los Angeles Unified School District/Ca
    5.000
    07/01/2020
    AA-
    CA
    USD
    0.15
    Clark County School District
    5.000
    06/15/2019
    A+
    NV
    USD
    0.15
    Massachusetts Development Finance Agenc
    5.000
    07/01/2021
    A-
    MA
    USD
    0.15
    New York City Transitional Finance Auth
    5.000
    11/01/2021
    AA+
    NY
    USD
    0.15
    California State Public Works Board
    5.000
    11/01/2018
    A+
    CA
    USD
    0.15
    City Of Philadelphia Pa Water & Wastewa
    5.000
    10/01/2022
    A+
    PA
    USD
    0.15
    Pennsylvania State University
    5.000
    09/01/2021
    AA
    PA
    USD
    0.15
    Golden State Tobacco Securitization Cor
    5.000
    06/01/2021
    A+
    CA
    USD
    0.14
    State Of California
    5.000
    02/01/2021
    AA-
    CA
    USD
    0.14
    New Jersey Economic Development Authori
    5.000
    06/15/2021
    A-
    NJ
    USD
    0.14
    Aldine Independent School District
    5.000
    02/15/2023
    AAA
    TX
    USD
    0.14
    Commonwealth Of Massachusetts
    5.000
    12/01/2018
    AA+
    MA
    USD
    0.14
    Louisiana State Citizens Property Insur
    5.000
    06/01/2022
    A+
    LA
    USD
    0.14
    State Of Connecticut
    5.000
    08/15/2023
    AA-
    CT
    USD
    0.14
    Forsyth County School District
    5.000
    02/01/2019
    AA+
    GA
    USD
    0.14
    California State Public Works Board
    5.000
    06/01/2020
    A+
    CA
    USD
    0.14
    State Of Washington
    5.000
    07/01/2019
    AA+
    WA
    USD
    0.14
    State Of Illinois
    5.000
    04/01/2020
    BBB
    IL
    USD
    0.14
    State Of California
    5.000
    09/01/2021
    AA-
    CA
    USD
    0.14
    Reedy Creek Improvement District
    5.000
    06/01/2021
    AA-
    FL
    USD
    0.14
    Illinois State Toll Highway Authority
    5.000
    12/01/2022
    AA-
    IL
    USD
    0.14
    City Of Dallas Tx
    5.000
    02/15/2020
    AA
    TX
    USD
    0.13
    Nebraska Public Power District
    5.000
    01/01/2020
    A+
    NE
    USD
    0.13
    New York State Dormitory Authority
    5.000
    03/15/2020
    AA+
    NY
    USD
    0.13
    New York State Dormitory Authority
    5.000
    03/15/2020
    AA+
    NY
    USD
    0.13
    Trinity River Authority Central Regiona
    5.000
    08/01/2019
    AA+
    TX
    USD
    0.13
    California State Public Works Board
    5.000
    09/01/2019
    A+
    CA
    USD
    0.13
    Texas Transportation Commission State H
    5.000
    04/01/2020
    AAA
    TX
    USD
    0.13
    Alabama Public School & College Authori
    5.000
    01/01/2021
    AA
    AL
    USD
    0.13
    City Of Corpus Christi Tx Utility Syste
    5.000
    07/15/2019
    A+
    TX
    USD
    0.13
    State Of Maryland
    4.500
    08/01/2021
    AAA
    MD
    USD
    0.13
    Nebraska Public Power District
    4.000
    01/01/2020
    A+
    NE
    USD
    0.13
    Rutgers The State University Of New Jer
    5.000
    05/01/2021
    A+
    NJ
    USD
    0.13
    State Of California Department Of Water
    4.000
    12/01/2018
    AAA
    CA
    USD
    0.13
    New York State Dormitory Authority
    5.000
    07/01/2020
    A+
    NY
    USD
    0.13
    Austin Independent School District
    5.000
    08/01/2019
    AA+
    TX
    USD
    0.13
    Iowa Finance Authority
    5.000
    08/01/2020
    AAA
    IA
    USD
    0.13
    Royal Oak Hospital Finance Authority
    2.250
    09/01/2020
    A
    MI
    USD
    0.13
    City Of Bakersfield Ca Wastewater Reven
    5.000
    09/15/2021
    AA
    CA
    USD
    0.13
    Lancaster County Hospital Authority/Pa
    5.000
    08/15/2022
    AA-
    PA
    USD
    0.13
    New York State Environmental Facilities
    5.000
    06/15/2020
    AA+
    NY
    USD
    0.13
    Metropolitan Transportation Authority
    5.000
    11/15/2018
    A+
    NY
    USD
    0.13
    State Of California
    5.000
    09/01/2022
    AA-
    CA
    USD
    0.13
    State Of Ohio
    5.000
    05/01/2022
    AA+
    OH
    USD
    0.12
    City Of Cleveland Oh Airport System Rev
    5.000
    01/01/2023
    A
    OH
    USD
    0.12
    State Of Connecticut
    5.000
    04/15/2023
    AA-
    CT
    USD
    0.12
    New York Municipal Bond Bank Agency
    5.000
    12/01/2019
    AA
    NY
    USD
    0.12
    Hudson Yards Infrastructure Corp
    5.000
    02/15/2023
    A+
    NY
    USD
    0.12
    State Of Georgia
    5.000
    02/01/2023
    AAA
    GA
    USD
    0.12
    Monroe County Industrial Development Ag
    5.000
    05/01/2023
    AA
    NY
    USD
    0.12
    State Of Wisconsin
    5.000
    05/01/2019
    AA
    WI
    USD
    0.12
    San Francisco Unified School District
    2.000
    06/15/2022
    AA-
    CA
    USD
    0.12
    Reedy Creek Improvement District
    5.000
    06/01/2020
    AA-
    FL
    USD
    0.12
    Texas A&M University
    5.000
    05/15/2022
    AAA
    TX
    USD
    0.12
    Massachusetts Water Resources Authority
    5.000
    08/01/2022
    AA+
    MA
    USD
    0.12
    Austin Independent School District
    5.000
    08/01/2022
    AA+
    TX
    USD
    0.12
    City Of Aurora Co Water Revenue
    5.000
    08/01/2022
    AA+
    CO
    USD
    0.12
    State Of Michigan
    3.000
    11/01/2020
    AA
    MI
    USD
    0.12
    Municipal Electric Authority Of Georgia
    5.000
    01/01/2023
    A+
    GA
    USD
    0.12
    Alabama Federal Aid Highway Finance Aut
    5.000
    09/01/2022
    AA+
    AL
    USD
    0.12
    County Of Fairfax Va
    5.000
    10/01/2028
    AAA
    VA
    USD
    0.12
    New York State Dormitory Authority
    5.000
    10/01/2022
    A+
    NY
    USD
    0.12
    State Of North Carolina
    5.000
    05/01/2019
    AAA
    NC
    USD
    0.12
    Pennsylvania Economic Development Finan
    5.000
    01/01/2021
    AA+
    PA
    USD
    0.12
    Massachusetts Development Finance Agenc
    5.000
    07/01/2022
    A-
    MA
    USD
    0.12
    Gwinnett County School District
    5.000
    02/01/2019
    AAA
    GA
    USD
    0.12
    State Of California
    5.000
    02/01/2022
    AA-
    CA
    USD
    0.12
    Jea Electric System Revenue
    5.000
    10/01/2019
    AA-
    FL
    USD
    0.12
    City Of Alexandria Va
    5.000
    07/01/2023
    AAA
    VA
    USD
    0.12
    State Of Connecticut Special Tax Revenu
    5.000
    09/01/2022
    AA-
    CT
    USD
    0.12
    City Of Tucson Az Water System Revenue
    5.000
    07/01/2021
    AA
    AZ
    USD
    0.12
    New Jersey Transit Corp
    5.000
    09/15/2019
    A-
    NJ
    USD
    0.12
    Miami-Dade County Expressway Authority
    5.000
    07/01/2021
    A
    FL
    USD
    0.12
    County Of Anne Arundel Md
    5.000
    04/01/2021
    AA+
    MD
    USD
    0.11
    City Of Portland Or Water System Revenu
    5.000
    04/01/2021
    --
    OR
    USD
    0.11
    Maricopa County Industrial Development
    5.000
    01/01/2021
    AA-
    AZ
    USD
    0.11
    New York State Dormitory Authority
    5.000
    03/15/2021
    AA+
    NY
    USD
    0.11
    Los Angeles Community College District/
    5.000
    08/01/2020
    AA+
    CA
    USD
    0.11
    State Of Florida
    5.000
    06/01/2020
    AA+
    FL
    USD
    0.11
    City Of Chandler Az
    4.000
    07/01/2021
    AAA
    AZ
    USD
    0.11
    Maricopa County Industrial Development
    5.000
    01/01/2020
    AA-
    AZ
    USD
    0.11
    County Of Clark Nv
    5.000
    11/01/2022
    AA
    NV
    USD
    0.11
    New York City Transitional Finance Auth
    5.000
    11/01/2020
    AA+
    NY
    USD
    0.11
    State Of Illinois
    4.000
    06/15/2021
    AA+
    IL
    USD
    0.11
    State Of Connecticut Special Tax Revenu
    5.000
    01/01/2020
    AA-
    CT
    USD
    0.11
    Intermountain Power Agency
    5.000
    07/01/2021
    A+
    UT
    USD
    0.11
    County Of Baltimore Md
    5.000
    08/01/2019
    AAA
    MD
    USD
    0.11
    State Of Connecticut
    5.000
    07/15/2019
    AA-
    CT
    USD
    0.11
    New York State Dormitory Authority
    5.000
    07/01/2020
    A+
    NY
    USD
    0.11
    City Of Chicago Il
    5.000
    01/01/2020
    BBB
    IL
    USD
    0.11
    State Of California Department Of Water
    5.000
    12/01/2018
    AA+
    CA
    USD
    0.11
    Pennsylvania Economic Development Finan
    5.000
    07/01/2020
    AA+
    PA
    USD
    0.11
    District Of Columbia
    5.000
    06/01/2020
    AA
    DC
    USD
    0.11
    State Of Minnesota
    5.000
    08/01/2020
    AA+
    MN
    USD
    0.11
    City Of Chandler Az
    3.000
    07/01/2019
    AAA
    AZ
    USD
    0.11
    State Of Wisconsin
    5.000
    05/01/2020
    AA
    WI
    USD
    0.10
    City Of Columbus Oh
    2.000
    08/15/2020
    AAA
    OH
    USD
    0.10
    State Of New Jersey
    5.000
    06/01/2021
    A
    NJ
    USD
    0.10
    Forsyth County School District
    5.000
    02/01/2021
    AA+
    GA
    USD
    0.10
    Kentucky State Property & Building Comm
    5.000
    08/01/2022
    A+
    KY
    USD
    0.10
    New York State Dormitory Authority
    5.000
    03/15/2021
    AA+
    NY
    USD
    0.10
    State Of Hawaii
    5.000
    08/01/2019
    AA
    HI
    USD
    0.10
    City Of New York Ny
    5.000
    08/01/2019
    AA
    NY
    USD
    0.10
    University Of Connecticut
    5.000
    08/15/2023
    A+
    CT
    USD
    0.10
    City Of Farmington Nm
    1.875
    04/01/2033
    BBB
    NM
    USD
    0.10
    Oregon State Lottery
    5.000
    04/01/2019
    AA+
    OR
    USD
    0.10
    City Of Phoenix Az
    4.000
    07/01/2020
    AA+
    AZ
    USD
    0.10
    Kentucky Turnpike Authority
    5.000
    07/01/2019
    AA-
    KY
    USD
    0.10
    City Of Chicago Il Waterworks Revenue
    5.000
    11/01/2020
    A
    IL
    USD
    0.10
    State Of Florida
    5.000
    06/01/2019
    AA+
    FL
    USD
    0.10
    Los Angeles Department Of Water & Power
    5.000
    07/01/2022
    AA-
    CA
    USD
    0.10
    State Of Ohio
    5.000
    05/01/2022
    AA+
    OH
    USD
    0.10
    New Jersey Transportation Trust Fund Au
    5.000
    06/15/2021
    A-
    NJ
    USD
    0.09
    Los Angeles Unified School District/Ca
    5.000
    07/01/2019
    AA-
    CA
    USD
    0.09
    Jackson County School District No 549c
    5.000
    12/15/2020
    AA+
    OR
    USD
    0.09
    Massachusetts School Building Authority
    5.000
    08/15/2019
    AA
    MA
    USD
    0.09
    New York State Dormitory Authority
    5.000
    03/15/2021
    AA+
    NY
    USD
    0.09
    State Of Maryland
    5.250
    08/01/2020
    AAA
    MD
    USD
    0.09
    State Of California
    4.000
    02/01/2022
    AA-
    CA
    USD
    0.09
    State Of Hawaii
    5.000
    08/01/2020
    AA
    HI
    USD
    0.09
    Regional Transportation District
    5.000
    06/01/2020
    A
    CO
    USD
    0.09
    New Jersey Educational Facilities Autho
    5.000
    06/01/2019
    A-
    NJ
    USD
    0.09
    Municipal Electric Authority Of Georgia
    4.000
    01/01/2021
    A
    GA
    USD
    0.09
    Oregon State Facilities Authority
    5.000
    10/01/2021
    AA-
    OR
    USD
    0.09
    State Of Wisconsin
    5.000
    05/01/2019
    AA
    WI
    USD
    0.09
    State Of Texas
    5.000
    10/01/2019
    AAA
    TX
    USD
    0.09
    County Of Broward Fl Airport System Rev
    5.000
    10/01/2018
    A
    FL
    USD
    0.09
    State Of Florida
    5.000
    06/01/2020
    AA+
    FL
    USD
    0.09
    Virginia Commonwealth Transportation Bo
    5.000
    05/15/2023
    AA+
    VA
    USD
    0.09
    Louisiana State Citizens Property Insur
    5.000
    06/01/2020
    A
    LA
    USD
    0.08
    County Of Miami-Dade Fl Water & Sewer S
    5.000
    10/01/2020
    A+
    FL
    USD
    0.08
    State Of Minnesota
    5.000
    08/01/2019
    AA+
    MN
    USD
    0.08
    Tri-County Metropolitan Transportation
    5.000
    11/01/2018
    A+
    OR
    USD
    0.08
    Maryland Health & Higher Educational Fa
    5.000
    07/01/2019
    --
    MD
    USD
    0.08
    New Jersey Transportation Trust Fund Au
    5.000
    06/15/2019
    A-
    NJ
    USD
    0.08
    County Of Broward Fl Airport System Rev
    5.000
    10/01/2020
    A
    FL
    USD
    0.08
    University Of Missouri
    4.000
    11/01/2019
    AA+
    MO
    USD
    0.08
    Metropolitan Transportation Authority
    5.000
    11/15/2020
    A+
    NY
    USD
    0.08
    Mississippi Development Bank
    5.000
    01/01/2021
    AA-
    MS
    USD
    0.08
    State Of Georgia
    5.000
    02/01/2019
    AAA
    GA
    USD
    0.08
    City Of Springfield Il Electric Revenue
    5.000
    03/01/2023
    A-
    IL
    USD
    0.08
    New Jersey Building Authority
    5.000
    06/15/2021
    BBB+
    NJ
    USD
    0.08
    New Jersey Educational Facilities Autho
    5.000
    07/01/2022
    AAA
    NJ
    USD
    0.08
    Bay Area Toll Authority
    5.250
    04/01/2048
    A+
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    USD
    0.08
    New York City Transitional Finance Auth
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    05/01/2019
    AA+
    NY
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    0.08
    District Of Columbia
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    AA
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    0.07
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    01/01/2020
    AA+
    PA
    USD
    0.07
    State Of New Mexico Severance Tax Perma
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    07/01/2021
    A+
    NM
    USD
    0.07
    California State Public Works Board
    4.000
    03/01/2019
    A+
    CA
    USD
    0.07
    School Board Of Miami-Dade County/The
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    11/01/2019
    A
    FL
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    0.07
    Chicago O'Hare International Airport
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    01/01/2023
    A
    IL
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    0.07
    Delaware Transportation Authority
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    07/01/2022
    AA
    DE
    USD
    0.07
    Tennessee State School Bond Authority
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    11/01/2019
    AA+
    TN
    USD
    0.07
    California State Public Works Board
    5.000
    01/01/2020
    A+
    CA
    USD
    0.07
    City Of San Antonio Tx Electric & Gas S
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    02/01/2020
    AA
    TX
    USD
    0.07
    Ohio Water Development Authority Water
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    12/01/2021
    AAA
    OH
    USD
    0.07
    Hudson Yards Infrastructure Corp
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    02/15/2022
    A+
    NY
    USD
    0.07
    Massachusetts Clean Water Trust/The
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    02/01/2019
    AAA
    MA
    USD
    0.07
    State Of Connecticut
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    04/15/2019
    AA-
    CT
    USD
    0.07
    State Of Arkansas
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    06/15/2021
    AA
    AR
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    0.07
    State Of Minnesota
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    08/01/2021
    AA+
    MN
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    0.07
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    09/01/2021
    AAA
    NC
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    0.07
    New York State Thruway Authority
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    05/01/2019
    A+
    NY
    USD
    0.07
    City Of Lafayette La Utilities Revenue
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    11/01/2020
    A+
    LA
    USD
    0.07
    North Texas Tollway Authority
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    01/01/2020
    A
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    02/01/2021
    AA+
    VA
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    0.07
    Oregon State Lottery
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    02/15/2021
    AAA
    TX
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    0.07
    Golden State Tobacco Securitization Cor
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    06/01/2019
    A+
    CA
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    0.07
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    07/01/2020
    AA
    HI
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    0.07
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    10/01/2020
    AA+
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    0.07
    State Of Illinois
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    05/01/2019
    BBB
    IL
    USD
    0.07
    New York State Thruway Authority
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    01/01/2020
    A
    NY
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    0.07
    Maryland Water Quality Financing Admini
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    03/01/2021
    AA
    MD
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    0.07
    American Municipal Power Inc
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    02/15/2021
    A-
    OH
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    0.07
    New Jersey Educational Facilities Autho
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    07/01/2020
    AAA
    NJ
    USD
    0.07
    Los Angeles Unified School District/Ca
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    07/01/2021
    AA-
    CA
    USD
    0.07
    State Of Connecticut
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    06/15/2020
    AA-
    CT
    USD
    0.07
    New York City Transitional Finance Auth
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    02/01/2019
    AA+
    NY
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    0.06
    Jea Electric System Revenue
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    AA-
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    0.06
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    11/15/2019
    A+
    NY
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    0.06
    Oregon State Lottery
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    04/01/2020
    AA+
    OR
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    0.06
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    11/15/2021
    AA
    TX
    USD
    0.06
    Dallas/Fort Worth International Airport
    5.000
    11/01/2021
    A
    TX
    USD
    0.06
    San Jose Financing Authority
    5.000
    06/01/2020
    AA-
    CA
    USD
    0.06
    New York State Housing Finance Agency
    1.100
    11/01/2019
    A
    NY
    USD
    0.06
    Arizona Department Of Transportation St
    5.000
    07/01/2021
    AA
    AZ
    USD
    0.06
    State Of California Department Of Water
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    12/01/2019
    AA+
    CA
    USD
    0.06
    County Of Mecklenburg Nc
    5.000
    12/01/2018
    AAA
    NC
    USD
    0.06
    State Of Kansas Department Of Transport
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    09/01/2021
    AA+
    KS
    USD
    0.06
    Denver City & County School District No
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    12/01/2020
    AA
    CO
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    0.06
    New Jersey Economic Development Authori
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    06/15/2022
    A-
    NJ
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    0.06
    State Of Florida
    5.000
    06/01/2019
    AA+
    FL
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    0.06
    Orlando-Orange County Expressway Author
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    07/01/2019
    A
    FL
    USD
    0.06
    New Jersey Economic Development Authori
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    03/01/2020
    A-
    NJ
    USD
    0.06
    Arizona School Facilities Board
    5.000
    09/01/2020
    AA-
    AZ
    USD
    0.06
    New Jersey Turnpike Authority
    5.000
    01/01/2022
    A
    NJ
    USD
    0.06
    New Jersey Transit Corp
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    09/15/2021
    A-
    NJ
    USD
    0.06
    New York State Dormitory Authority
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    03/15/2020
    AA+
    NY
    USD
    0.06
    California State Public Works Board
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    11/01/2020
    A+
    CA
    USD
    0.06
    Los Angeles Unified School District/Ca
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    07/01/2019
    AA-
    CA
    USD
    0.05
    Mchenry County Conservation District
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    02/01/2021
    AA+
    IL
    USD
    0.05
    Health & Educational Facilities Authori
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    11/15/2022
    AA-
    MO
    USD
    0.05
    Metropolitan Water District Of Southern
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    07/01/2020
    AA+
    CA
    USD
    0.05
    Houston Independent School District Pub
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    09/15/2020
    AA
    TX
    USD
    0.05
    Ohio Water Development Authority
    5.000
    12/01/2019
    AAA
    OH
    USD
    0.05
    New Jersey Turnpike Authority
    5.000
    01/01/2020
    A
    NJ
    USD
    0.05
    Intermountain Power Agency
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    07/01/2022
    A+
    UT
    USD
    0.05
    State Of Arkansas
    5.000
    04/01/2021
    AA
    AR
    USD
    0.05
    Los Angeles Department Of Water
    5.000
    07/01/2020
    AA
    CA
    USD
    0.05
    School Board Of Miami-Dade County/The
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    05/01/2020
    A
    FL
    USD
    0.05
    University Of Missouri
    5.000
    11/01/2019
    AA+
    MO
    USD
    0.05
    Lewisville Independent School District
    5.000
    08/15/2019
    AAA
    TX
    USD
    0.05
    Rhode Island Commerce Corp
    5.000
    06/15/2022
    A+
    RI
    USD
    0.05
    County Of Miami-Dade Fl
    5.000
    07/01/2020
    AA
    FL
    USD
    0.05
    State Of Illinois
    5.000
    05/01/2022
    BBB
    IL
    USD
    0.05
    State Of California
    5.000
    02/01/2019
    AA-
    CA
    USD
    0.05
    Los Angeles Unified School District/Ca
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    07/01/2023
    AA+
    CA
    USD
    0.05
    Central Texas Turnpike System
    5.000
    08/15/2042
    A-
    TX
    USD
    0.05
    State Of Arizona
    5.000
    10/01/2021
    AA-
    AZ
    USD
    0.05
    State Of Washington
    5.000
    09/01/2019
    A+
    WA
    USD
    0.05
    Palm Beach County School District
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    08/01/2022
    AA-
    FL
    USD
    0.05
    State Of Alabama
    5.000
    08/01/2020
    AA
    AL
    USD
    0.05
    City Of Philadelphia Pa Water & Wastewa
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    07/01/2022
    A
    PA
    USD
    0.05
    Fort Worth Independent School District
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    02/15/2022
    AAA
    TX
    USD
    0.05
    State Of Mississippi
    5.000
    10/15/2020
    A
    MS
    USD
    0.05
    City Of Fort Worth Tx
    5.000
    03/01/2022
    AA
    TX
    USD
    0.05
    State Of California Department Of Water
    5.000
    12/01/2019
    AA-
    CA
    USD
    0.05
    Riverside County Transportation Commiss
    5.000
    06/01/2021
    AA
    CA
    USD
    0.05
    Chicago O'Hare International Airport
    5.000
    01/01/2022
    A
    IL
    USD
    0.05
    Virginia Commonwealth Transportation Bo
    5.000
    05/15/2021
    AA+
    VA
    USD
    0.05
    Public Power Generation Agency
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    01/01/2022
    A-
    NE
    USD
    0.05
    State Of Nevada
    5.000
    03/01/2020
    AA
    NV
    USD
    0.05
    Abag Finance Authority For Nonprofit Co
    5.000
    08/01/2021
    AA-
    CA
    USD
    0.05
    State Of Florida Lottery Revenue
    5.000
    07/01/2021
    AA
    FL
    USD
    0.05
    Tennessee State School Bond Authority
    5.000
    11/01/2020
    AA+
    TN
    USD
    0.05
    State Of Maryland Department Of Transpo
    5.000
    12/15/2020
    AA+
    MD
    USD
    0.05
    Sonoma County Junior College District
    5.000
    08/01/2019
    AA-
    CA
    USD
    0.05
    City Of Milwaukee Wi
    4.000
    03/01/2023
    AA-
    WI
    USD
    0.05
    New Jersey Turnpike Authority
    5.000
    01/01/2021
    A
    NJ
    USD
    0.05
    Town Of Oyster Bay Ny
    3.000
    03/01/2019
    A+
    NY
    USD
    0.05
    University Of California
    5.000
    05/15/2020
    AA
    CA
    USD
    0.05
    Washington Suburban Sanitary Commission
    5.000
    06/01/2020
    AAA
    MD
    USD
    0.05
    State Of California
    5.000
    08/01/2020
    AA-
    CA
    USD
    0.05
    San Mateo Joint Powers Financing Author
    4.000
    06/15/2019
    AA
    CA
    USD
    0.05
    State Of Rhode Island
    5.000
    08/01/2020
    AA
    RI
    USD
    0.05
    City Of Houston Tx Combined Utility Sys
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    05/15/2021
    AA
    TX
    USD
    0.04
    Triborough Bridge & Tunnel Authority
    5.000
    11/15/2019
    AA-
    NY
    USD
    0.04
    City Of Frisco Tx
    5.000
    02/15/2020
    AA+
    TX
    USD
    0.04
    City Of Dallas Tx
    5.000
    02/15/2020
    AA
    TX
    USD
    0.04
    Los Angeles Department Of Water
    5.000
    07/01/2019
    AA
    CA
    USD
    0.04
    San Antonio Water System
    5.000
    05/15/2019
    AA
    TX
    USD
    0.04
    Commonwealth Of Massachusetts
    5.000
    08/01/2019
    AA+
    MA
    USD
    0.04
    State Of Illinois
    5.000
    04/01/2021
    BBB
    IL
    USD
    0.04
    State Of Illinois
    5.000
    04/01/2021
    BBB
    IL
    USD
    0.04
    California Municipal Finance Authority
    5.000
    10/01/2019
    AA-
    CA
    USD
    0.04
    Houston Independent School District Pub
    5.000
    09/15/2019
    AA
    TX
    USD
    0.04
    North Carolina Municipal Power Agency N
    4.000
    01/01/2020
    A
    NC
    USD
    0.04
    State Of Washington
    5.000
    02/01/2023
    AA+
    WA
    USD
    0.04
    New York City Transitional Finance Auth
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    11/01/2018
    AA+
    NY
    USD
    0.04
    Metropolitan Government Of Nashville &
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    01/01/2022
    AA
    TN
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    0.04
    State Of Illinois
    5.000
    07/01/2021
    BBB
    IL
    USD
    0.04
    State Of Illinois
    4.000
    02/01/2019
    BBB
    IL
    USD
    0.04
    State Of Connecticut Special Tax Revenu
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    09/01/2018
    AA-
    CT
    USD
    0.04
    State Of Maryland
    5.000
    08/01/2019
    AAA
    MD
    USD
    0.04
    State Of Kansas Department Of Transport
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    09/01/2019
    AA+
    KS
    USD
    0.04
    City Of New York Ny
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    08/01/2019
    AA
    NY
    USD
    0.04
    University Of Illinois
    5.000
    04/01/2022
    A+
    IL
    USD
    0.04
    San Antonio Water System
    5.000
    05/15/2020
    AA
    TX
    USD
    0.04
    County Of Prince George's Md
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    03/01/2021
    AAA
    MD
    USD
    0.04
    New Jersey Economic Development Authori
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    06/15/2020
    A-
    NJ
    USD
    0.04
    Town Of Oyster Bay Ny
    4.000
    11/01/2020
    A+
    NY
    USD
    0.04
    Commonwealth Of Massachusetts Transport
    5.000
    06/01/2020
    AAA
    MA
    USD
    0.04
    California State Public Works Board
    5.000
    09/01/2020
    A+
    CA
    USD
    0.04
    New Jersey Health Care Facilities Finan
    5.000
    07/01/2020
    A
    NJ
    USD
    0.04
    Triborough Bridge & Tunnel Authority
    5.000
    11/15/2019
    AA-
    NY
    USD
    0.04
    Erie County Industrial Development Agen
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    05/01/2021
    AA
    NY
    USD
    0.04
    State Of Illinois
    5.000
    05/01/2020
    BBB
    IL
    USD
    0.04
    Florida's Turnpike Enterprise
    5.000
    07/01/2021
    AA
    FL
    USD
    0.04
    Philadelphia Gas Works Co
    4.000
    08/01/2018
    BBB+
    PA
    USD
    0.04
    Maryland Health & Higher Educational Fa
    5.000
    08/15/2019
    A-
    MD
    USD
    0.03
    Charleston Educational Excellence Finan
    5.000
    12/01/2020
    AA-
    SC
    USD
    0.03
    State Of Illinois
    5.000
    06/15/2021
    AA+
    IL
    USD
    0.03
    Bay Area Toll Authority
    5.000
    04/01/2019
    AA-
    CA
    USD
    0.03
    State Of Washington
    5.000
    07/01/2020
    AA+
    WA
    USD
    0.03
    North Carolina Municipal Power Agency N
    4.000
    01/01/2019
    A
    NC
    USD
    0.03
    City Of Los Angeles Department Of Airpo
    5.000
    05/15/2022
    A+
    CA
    USD
    0.03
    New York State Thruway Authority
    3.000
    05/01/2019
    A-
    NY
    USD
    0.03
    California State Public Works Board
    5.000
    11/01/2019
    A+
    CA
    USD
    0.03
    Metropolitan Transportation Authority
    5.000
    11/15/2019
    A+
    NY
    USD
    0.03
    New York City Transitional Finance Auth
    5.000
    11/01/2019
    AA+
    NY
    USD
    0.03
    State Of New Mexico Severance Tax Perma
    5.000
    07/01/2020
    AA-
    NM
    USD
    0.03
    State Of Kansas Department Of Transport
    5.000
    09/01/2019
    AA+
    KS
    USD
    0.03
    California State University
    5.000
    11/01/2018
    AA-
    CA
    USD
    0.03
    Omaha Public Power District
    5.000
    02/01/2019
    AA
    NE
    USD
    0.03
    State Of Connecticut Special Tax Revenu
    5.000
    01/01/2019
    AA-
    CT
    USD
    0.03
    Nebraska Public Power District
    5.000
    01/01/2021
    A+
    NE
    USD
    0.03
    California State University
    4.000
    11/01/2049
    AA-
    CA
    USD
    0.03
    North Texas Municipal Water District Wa
    5.000
    09/01/2020
    AA+
    TX
    USD
    0.03
    Northside Independent School District
    2.000
    06/01/2039
    AAA
    TX
    USD
    0.03
    California State Public Works Board
    5.000
    06/01/2019
    A+
    CA
    USD
    0.03
    Rutgers The State University Of New Jer
    5.000
    05/01/2019
    A+
    NJ
    USD
    0.03
    City Of Frisco Tx
    5.000
    02/15/2022
    AA+
    TX
    USD
    0.03
    Harris County Cultural Education Facili
    5.000
    10/01/2019
    AA
    TX
    USD
    0.03
    Houston Independent School District
    5.000
    02/15/2019
    AA+
    TX
    USD
    0.03
    City Of San Antonio Tx
    5.000
    02/01/2021
    AAA
    TX
    USD
    0.03
    State Of Kansas Department Of Transport
    5.000
    09/01/2018
    AA+
    KS
    USD
    0.03
    New Jersey Health Care Facilities Finan
    5.000
    07/01/2022
    A-
    NJ
    USD
    0.03
    New York City Transitional Finance Auth
    5.000
    02/01/2022
    AA+
    NY
    USD
    0.03
    Los Angeles Unified School District/Ca
    5.000
    07/01/2021
    AA-
    CA
    USD
    0.03
    New Jersey Turnpike Authority
    5.000
    01/01/2019
    A
    NJ
    USD
    0.03
    New York State Dormitory Authority
    5.000
    03/15/2019
    AA+
    NY
    USD
    0.03
    Kentucky Asset Liability Commission
    5.000
    09/01/2021
    A+
    KY
    USD
    0.03
    Jea Electric System Revenue
    5.000
    10/01/2018
    AA-
    FL
    USD
    0.03
    City Of Phoenix Civic Improvement Corp
    5.000
    07/01/2020
    AA
    AZ
    USD
    0.03
    City Of Lafayette La Utilities Revenue
    5.000
    11/01/2019
    A+
    LA
    USD
    0.03
    City Of Portland Or Sewer System Revenu
    5.000
    06/01/2019
    AA
    OR
    USD
    0.03
    Port Authority Of New York & New Jersey
    5.000
    12/01/2018
    AA-
    NY
    USD
    0.03
    State Of Georgia
    5.000
    12/01/2018
    AAA
    GA
    USD
    0.03
    County Of Fairfax Va
    4.000
    10/01/2019
    AAA
    VA
    USD
    0.03
    Virginia Commonwealth Transportation Bo
    5.000
    03/15/2021
    AA
    VA
    USD
    0.03
    Kentucky Turnpike Authority
    5.000
    07/01/2020
    AA-
    KY
    USD
    0.02
    Metropolitan Transit Authority Of Harri
    5.000
    11/01/2019
    AA
    TX
    USD
    0.02
    New York State Urban Development Corp
    5.000
    03/15/2020
    AA+
    NY
    USD
    0.02
    Port Of Seattle Wa
    5.000
    03/01/2023
    A+
    WA
    USD
    0.02
    Maricopa County High School District No
    5.000
    07/01/2022
    AA
    AZ
    USD
    0.02
    City Of San Antonio Tx Electric & Gas S
    5.000
    02/01/2022
    AA
    TX
    USD
    0.02
    City Of New York Ny
    5.000
    08/01/2018
    AA
    NY
    USD
    0.02
    State Of Georgia
    5.000
    02/01/2021
    AAA
    GA
    USD
    0.02
    Alvin Independent School District/Tx
    5.000
    02/15/2021
    AAA
    TX
    USD
    0.02
    San Francisco Bay Area Rapid Transit Di
    4.000
    08/01/2021
    AAA
    CA
    USD
    0.02
    Miami-Dade County Expressway Authority
    5.000
    07/01/2020
    A
    FL
    USD
    0.02
    Miami-Dade County Expressway Authority
    5.000
    07/01/2020
    A
    FL
    USD
    0.02
    Oregon State Facilities Authority
    5.000
    10/01/2020
    AA-
    OR
    USD
    0.02
    Maine Municipal Bond Bank
    5.000
    11/01/2019
    AA
    ME
    USD
    0.02
    Illinois State Toll Highway Authority
    5.000
    12/01/2019
    AA-
    IL
    USD
    0.02
    Aldine Independent School District
    5.000
    02/15/2020
    AAA
    TX
    USD
    0.02
    District Of Columbia
    5.000
    06/01/2019
    AA
    DC
    USD
    0.02
    Clark County School District
    5.000
    06/15/2019
    A+
    NV
    USD
    0.02
    Commonwealth Of Pennsylvania
    5.000
    08/15/2019
    AA-
    PA
    USD
    0.02
    State Of Louisiana
    5.000
    08/01/2019
    AA-
    LA
    USD
    0.02
    Dallas Independent School District
    5.000
    08/15/2019
    AAA
    TX
    USD
    0.02
    Kentucky Asset Liability Commission
    5.000
    09/01/2019
    A+
    KY
    USD
    0.02
    State Of Maryland
    5.000
    03/01/2019
    AAA
    MD
    USD
    0.02
    Grand River Dam Authority
    4.000
    06/01/2019
    A
    OK
    USD
    0.02
    City Of Dallas Tx
    5.000
    02/15/2019
    AA
    TX
    USD
    0.02
    County Of Prince George's Md
    4.000
    03/01/2019
    AAA
    MD
    USD
    0.02
    Oklahoma Development Finance Authority
    5.000
    08/15/2018
    AA-
    OK
    USD
    0.02
    City Of Dallas Tx Waterworks & Sewer Sy
    5.000
    10/01/2018
    AA+
    TX
    USD
    0.02
    Bi-State Development Agency Of The Miss
    5.000
    10/01/2019
    AA
    MO
    USD
    0.02
    State Of Maryland Department Of Transpo
    5.000
    06/01/2021
    AA+
    MD
    USD
    0.02
    New York State Dormitory Authority
    5.000
    07/01/2021
    A+
    NY
    USD
    0.02
    City Of Philadelphia Pa Water & Wastewa
    5.000
    07/01/2020
    A
    PA
    USD
    0.02
    North Carolina Municipal Power Agency N
    4.000
    01/01/2019
    --
    NC
    USD
    0.02
    County Of Anne Arundel Md
    5.000
    04/01/2023
    AA+
    MD
    USD
    0.02
    Oregon State Lottery
    5.000
    04/01/2023
    AA+
    OR
    USD
    0.02
    Metropolitan Transportation Authority
    5.000
    11/15/2021
    AA
    NY
    USD
    0.02
    Metropolitan Water District Of Southern
    5.000
    07/01/2021
    AA+
    CA
    USD
    0.02
    Los Angeles Department Of Water & Power
    5.000
    07/01/2021
    AA-
    CA
    USD
    0.02
    Royal Oak Hospital Finance Authority
    5.000
    09/01/2021
    A
    MI
    USD
    0.02
    Harris County-Houston Sports Authority
    5.000
    11/15/2019
    A-
    TX
    USD
    0.02
    State Of Ohio
    5.000
    05/01/2019
    AA+
    OH
    USD
    0.02
    Intermountain Power Agency
    5.000
    07/01/2019
    A+
    UT
    USD
    0.02
    Metropolitan Transportation Authority
    5.000
    11/15/2022
    AA
    NY
    USD
    0.01
    State Of Maryland
    5.000
    03/01/2023
    AAA
    MD
    USD
    0.01
    New York State Dormitory Authority
    5.000
    02/15/2023
    AA+
    NY
    USD
    0.01
    Massachusetts Development Finance Agenc
    5.000
    07/01/2022
    AA-
    MA
    USD
    0.01
    Orlando-Orange County Expressway Author
    5.000
    07/01/2022
    A+
    FL
    USD
    0.01
    Central Puget Sound Regional Transit Au
    5.000
    02/01/2019
    AA+
    WA
    USD
    0.01
    City Of New York Ny
    4.000
    08/01/2019
    AA
    NY
    USD
    0.01
    Iowa Finance Authority
    5.000
    08/01/2018
    AAA
    IA
    USD
    0.01
    Central Puget Sound Regional Transit Au
    5.000
    11/01/2022
    AA+
    WA
    USD
    0.01
    San Diego Public Facilities Financing A
    5.000
    05/15/2022
    AA
    CA
    USD
    0.01
    County Of Washington Or
    5.000
    03/01/2023
    AA+
    OR
    USD
    0.01
    Alabama Public School & College Authori
    5.000
    01/01/2023
    AA
    AL
    USD
    0.01
    State Of Iowa
    5.000
    06/01/2022
    AA
    IA
    USD
    0.01
    Virginia Commonwealth Transportation Bo
    5.000
    09/15/2022
    AA
    VA
    USD
    0.01
    State Of Minnesota
    5.000
    03/01/2022
    AA
    MN
    USD
    0.01
    State Of Illinois
    5.000
    06/15/2022
    AA+
    IL
    USD
    0.01
    County Of Montgomery Md
    5.000
    11/01/2020
    AAA
    MD
    USD
    0.01
    State Of California
    5.000
    03/01/2020
    AA-
    CA
    USD
    0.01
    New York City Transitional Finance Auth
    5.000
    02/01/2019
    AA+
    NY
    USD
    0.01
    Plano Independent School District
    5.000
    02/15/2019
    AAA
    TX
    USD
    0.01
    City Of Houston Tx
    5.000
    03/01/2019
    AA-
    TX
    USD
    0.01
    State Of California
    5.000
    09/01/2018
    AA-
    CA
    USD
    0.01
    New York City Transitional Finance Auth
    5.000
    11/01/2022
    AA+
    NY
    USD
    0.01
    Virginia College Building Authority
    5.000
    02/01/2023
    AA+
    VA
    USD
    0.01
    State Of Ohio
    5.000
    12/15/2022
    AA
    OH
    USD
    0.01
    San Diego Unified School District/Ca
    5.000
    07/01/2022
    AA-
    CA
    USD
    0.01
    Los Angeles Department Of Water
    5.000
    07/01/2022
    AA
    CA
    USD
    0.01
    Sales Tax Asset Receivable Corp
    5.000
    10/15/2022
    AA+
    NY
    USD
    0.01
    Virginia Public Building Authority
    5.000
    08/01/2022
    AA+
    VA
    USD
    0.01
    Bi-State Development Agency Of The Miss
    5.000
    10/01/2022
    AA
    MO
    USD
    0.01
    Commonwealth Of Massachusetts Federal H
    5.000
    06/15/2022
    --
    MA
    USD
    0.01
    Kentucky Turnpike Authority
    5.000
    07/01/2021
    AA-
    KY
    USD
    0.01
    State Of Georgia
    5.000
    01/01/2019
    AAA
    GA
    USD
    0.01
    State Of Texas
    5.000
    04/01/2019
    AAA
    TX
    USD
    0.01
    North East Independent School District/
    5.000
    08/01/2018
    AA+
    TX
    USD
    0.01
    State Of Maryland
    5.000
    08/01/2018
    AAA
    MD
    USD
    0.01
    City Of San Francisco Ca Public Utiliti
    5.000
    11/01/2022
    AA-
    CA
    USD
    0.01
    State Of Oregon Department Of Transport
    5.000
    11/15/2022
    AA+
    OR
    USD
    0.01
    New York City Transitional Finance Auth
    5.000
    11/01/2022
    AA+
    NY
    USD
    0.01
    State Of Georgia
    5.000
    02/01/2023
    AAA
    GA
    USD
    0.01
    State Of Maryland Department Of Transpo
    5.000
    02/01/2023
    AA+
    MD
    USD
    0.01
    City Of Austin Tx Electric Utility Reve
    5.000
    11/15/2022
    A+
    TX
    USD
    0.01
    New York State Dormitory Authority
    5.000
    02/15/2023
    AA+
    NY
    USD
    0.01
    Arizona Health Facilities Authority
    5.000
    01/01/2023
    AA-
    AZ
    USD
    0.01
    American Municipal Power Inc
    5.000
    02/15/2023
    A-
    OH
    USD
    0.01
    State Of Kansas Department Of Transport
    5.000
    09/01/2022
    AA+
    KS
    USD
    0.01
    Sacramento County Sanitation Districts
    5.000
    12/01/2021
    AA-
    CA
    USD
    0.01
    Metropolitan Transportation Authority
    5.000
    11/15/2021
    A+
    NY
    USD
    0.01
    Rhode Island Commerce Corp
    5.000
    06/15/2021
    A+
    RI
    USD
    0.01
    Kentucky State Property & Building Comm
    5.000
    08/01/2021
    A+
    KY
    USD
    0.01
    County Of Pima Az
    4.000
    07/01/2022
    AA-
    AZ
    USD
    0.01
    Commonwealth Of Pennsylvania
    5.000
    04/01/2019
    AA-
    PA
    USD
    0.01
    Metropolitan Transportation Authority
    5.000
    11/15/2022
    AA
    NY
    USD
    0.00
    Metropolitan Transportation Authority
    5.000
    11/15/2022
    A+
    NY
    USD
    0.00
    Metropolitan Transportation Authority
    5.000
    11/15/2022
    A+
    NY
    USD
    0.00
    Oregon State Lottery
    5.000
    04/01/2023
    AA+
    OR
    USD
    0.00
    Oklahoma Water Resources Board
    5.000
    04/01/2023
    AAA
    OK
    USD
    0.00
    Los Angeles County Metropolitan Transpo
    5.000
    07/01/2022
    AA
    CA
    USD
    0.00
    New York State Dormitory Authority
    5.000
    03/15/2023
    AA+
    NY
    USD
    0.00
    New York State Urban Development Corp
    5.000
    03/15/2023
    AA+
    NY
    USD
    0.00
    Massachusetts Development Finance Agenc
    5.000
    07/15/2022
    AAA
    MA
    USD
    0.00
    University Of Texas System/The
    5.000
    08/15/2022
    AAA
    TX
    USD
    0.00
    San Francisco State Building Authority
    5.000
    12/01/2021
    A+
    CA
    USD
    0.00
    New York State Dormitory Authority
    5.000
    02/15/2022
    AA+
    NY
    USD
    0.00
    University Of California
    5.000
    05/15/2021
    AA
    CA
    USD
    0.00
    Coast Community College District
    5.000
    08/01/2021
    AA
    CA
    USD
    0.00
    California State Public Works Board
    5.000
    10/01/2021
    AA+
    CA
    USD
    0.00
    Commonwealth Of Massachusetts
    5.000
    10/01/2021
    AA+
    MA
    USD
    0.00
    County Of Wake Nc
    5.000
    12/01/2020
    AA+
    NC
    USD
    0.00
    Los Angeles Unified School District/Ca
    4.000
    07/01/2021
    AA+
    CA
    USD
    0.00
    City Of Chattanooga Tn Electric Revenue
    5.000
    09/01/2020
    AA+
    TN
    USD
    0.00
    County Of Orange Fl Sales Tax Revenue
    5.000
    01/01/2019
    AA
    FL
    USD
    0.00
    State Of Connecticut
    5.000
    09/01/2018
    AA-
    CT
    USD
    0.00
    School District Of Philadelphia/The
    5.000
    09/01/2018
    A
    PA
    USD
    0.00
    Other/Cash
    --
    --
    --
    --
    USD
    0.21

    These are not recommendations to buy or to sell any security. Securities and holdings may vary. Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion.

  • Important Disclosure

    VanEck only serves professional clients in countries where the funds are registered or where funds can be sold in accordance with local private placement rules.

    130-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the Fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the Fund over the last twelve months assuming the most recent NAV. Distributions may vary from time to time. The Distribution Yield is the annual yield an investor would receive if the most recent Fund distribution stayed the same going forward. The yield represents a single distribution from the Fund and does not represent the total return of the Fund.  The yield is calculated by annualizing the most recent distribution and dividing by the Fund NAV from the as-of date. The 12-Month Yield is the yield an investor would have received if they had held the fund over the last 12 months assuming the most recent NAV. The 12-month yield is calculated by summing any income distributions over the past 12 months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past 12 months. Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included.

    1aTaxable equivalent yields (TEY) are used by investors to compare yields on taxable and tax-exempt securities after accounting for federal income taxes. TEY represents the yield a taxable bond investment would have to earn in order to match, after deducting federal income taxes, the yield available on a tax-exempt municipal bond investment. TEY = Tax-Free Municipal Bond Yield/(1 -Tax Rate).

    2SMB Fees & Expenses: 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 and extraordinary expenses.

    3Morningstar Ratings: If applicable, when the ETF is rated three stars or more for any given period. ©Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.  

    For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

    4These figures represent averages. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Yield to Maturity is the annualized return on a bond held to maturity. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bonds with embedded options.Modified Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield.Duration to Worst measures the duration of a bond computed using the bond's nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. Spread Duration measures a bond's price sensitivity to a 100 basis point change to its option-adjusted spread. As the rate of the Treasury security in the option-adjusted spread increases, the rate of the option-adjusted spread also increases.Years to Maturity is the period of time for which a financial instrument remains outstanding. Maturity refers to a finite time period at the end of which the financial instrument will cease to exist and the principal is repaid. Coupon is measured by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid on a fixed-income security on an annual basis. Averages are market weighted. The Coupon and Yield to Worst do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

    5IIV is an abbreviation for the intraday indicative value of an ETF's Shares (and is also known as the Indicative Optimized Portfolio Value or IOPV), and is disseminated every 15 seconds during regular trading hours. The IIV is based on the current market value of the securities and/or cash required to be deposited in exchange for a Creation Unit. The IIV does not necessarily reflect the precise composition of the current portfolio of securities held by the Fund at a particular point in time or the best possible valuation of the current portfolio. Therefore, the IIV should not be viewed as a "real-time" update of the Fund's NAV, which is computed only once a day. The Fund is not involved in, or responsible for, the calculation or dissemination of the IIV and makes no warranty as to its accuracy.

    6The S&P 500® Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sector; as an Index, it is unmanaged and is not a security in which investments can be made.

    An investment in the Fund may be subject to risks which include, among others, risks related to litigation, legislation, political change, conditions in underlying sectors or in local business communities and economies, bankruptcy or other changes in the issuer's financial condition and/or the discontinuance of taxes supporting the project or assets of the inability to collect revenues for the project or from the assets, and credit, interest rate, and call risk, all of which may adversely affect the Fund. Municipal bonds may be less liquid than taxable bonds. There is no guarantee that the Fund's income will be exempt from federal, state or local income taxes, and changes in those tax rates or in alternative minimum tax rates or in the tax treatment of municipal bonds may make them less attractive as investments and cause them to lose value. Capital gains, if any, are subject to capital gains tax. The Fund's assets may be concentrated in a particular sector and may be subject to more risk than investments in a diverse group of sectors.

    The VanEck Vectors ETFs are not sponsored by, endorsed, sold or promoted by Bloomberg or Barclays and neither Bloomberg nor Barclays makes any representation regarding the advisability of investing in them. The only relationship to the Adviser with respect to the VanEck Vectors ETFs is the licensing of certain trademarks and trade names of Bloomberg and Barclays and the BLOOMBERG BARCLAYS INDICES that are determined, composed and calculated by Bloomberg without regard to the Adviser or any investor in the VanEck Vectors ETFs.

    After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares throughtax-deferred arrangements such as 401(k) plans or individual retirement.

    The S&P 500 Index (“Index”) is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Van Eck Associates Corporation. Copyright © 2017 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.

    Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Investors can not invest directly in the Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. Index returns assume that dividends have been reinvested.

    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.

    Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called "creation units" and otherwise can be bought and sold only through exchange trading. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading Fund shares in the secondary market. Past performance is no guarantee of future results. Returns for actual Fund investments may differ from what is shown because of differences in timing, the amount invested, and fees and expenses.

    The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and value of the shares of the Fund will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Performance current to the most recent month end is available by calling 800.826.2333 or on this web page.

    Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus , which contains this and other information, call 800.826.2333 or visit vaneck.com/etfs . Please read the prospectus and summary prospectus carefully before investing.

    This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.