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SMB
VanEck Vectors Short Muni ETF

Fund Description

The VanEck Vectors® Short Muni 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

    Cboe
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    LMT1TR
  • Index Rebalancing

    Monthly

 
as of 10/28/20

  • 30-Day SEC Yield1

    0.42%
  • Total Net Assets

    $222.3M
  • Number of Holdings

    477
  • Options

    Expected
  • Gross Expense Ratio2

    0.20%
  • Net Expense Ratio/TER2

    0.20%
  • Distribution Frequency

    Monthly

Index Key Points

The Bloomberg Barclays AMT-Free Short Continuous Municipal Index (LMT1TR) is comprised of:

Four main sectors: general obligation bonds, revenue bonds, insured bonds and pre-refunded bonds.

Issues eligible for inclusion in Index:

  • Have a nominal maturity of 1-6 years.
  • Have a dated-date within the last 5 years.
  • Rated investment grade.
  • AMT-free.
  • Have an outstanding par value of at least $7 million.
  • Issued as part of a transaction of at least $75 million.
  • Fixed rate.

      Index Provider: Bloomberg Index Services Limited

      Index Profile

      • Ticker

        LMT1TR
      • Inception Date

        11/05/2007
      • Rebalance Frequency

        Monthly

      Index Fundamentals4
      as of 10/27/20

      • Yield to Worst

        0.64%
      • Yield to Maturity

        0.71%
      • Effective Duration (yrs)

        3.28
      • Duration to Worst (yrs)

        3.28
      • Modified Duration (yrs)

        3.30
      • Spread Duration (yrs)

        3.29
      • Years to Maturity

        8.24
      • Coupon

        4.60%
       4 See Important Disclosure for definitions.

      Top 10 Constituents (%) as of 09/30/20

      Total Constituents : 7210
      Swipe
      to view
      full data
      Issuer Name State Weighting (%)
      California St
      CA
      4.14
      New York N Y
      NY
      2.31
      Illinois St
      IL
      2.25
      Kentucky Inc Ky Pub Energy Auth Gas Suplly Rev
      KY
      1.89
      Massachusetts St
      MA
      1.61
      Maryland St
      MD
      1.61
      Main Str Nat Gas Inc Ga Gas Supply Rev
      GA
      1.50
      Pennsylvania St
      PA
      1.36
      Connecticut St
      CT
      1.31
      New York St Dorm Auth St Pers Income Tax Rev
      NY
      1.24
      Top 10 Total (%) 19.22
      These are not recommendations to buy or to sell any security. Securities and holdings may vary.

      Index Geographical Weightings (%) as of 09/30/20

      • State

        % of Net Assets
      • California

        14.0
      • New York

        13.4
      • Texas

        8.6
      • Illinois

        4.8
      • Maryland

        3.8
      • Pennsylvania

        3.6
      • Georgia

        3.5
      • Massachusetts

        3.5
      • Connecticut

        3.2
      • Virginia

        2.9
      • Washington

        2.9
      • Ohio

        2.8
      • Florida

        2.7
      • Alabama

        2.4
      • Kentucky

        2.4
      • New Jersey

        1.8
      • North Carolina

        1.8
      • Colorado

        1.7
      • Wisconsin

        1.7
      • Arizona

        1.7

      Index Sector Weightings (%) as of 09/30/20

      • Sector

        % of Net Assets
      • State General

        20.9
      • Local General

        15.9
      • IDR/PCR

        11.7
      • Transportation

        10.6
      • Special Tax

        9.0
      • Health Care Facilities

        7.2
      • Water Utilities

        7.0
      • Education

        6.2
      • Leasing

        5.3
      • Power Utilities

        4.9
      • Housing

        1.3
      • Resource Recovery

        0.0

      Index Credit Quality (%) as of 09/30/20

      Composite % of Net Assets
      Investment Grade AAA 17.98
      AA 52.69
      A 22.40
      BBB 6.93
      Total Investment Grade -- 100.00
      Source: Barclays. Rating is a proprietary composite of various rating agencies.

      Maturity (%) as of 09/30/20

       Average Maturity: 8.22 Years