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SMB VanEck Short Muni ETF Please read important disclosure Close important disclosure false

SMB
VanEck Short Muni ETF

SMB
VanEck Short Muni ETF

  • NAV
    $17.28

    as of July 10, 2026
  • YTD RETURNS
    1.11%

    as of July 10, 2026
  • Total Net Assets
    $312.74M

    as of July 10, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.76%
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Overview

Why SMB

  • Federally Tax-Exempt IncomeProvides income generally exempt from federal taxes
  • Intermediate Duration FocusDesigned to track an index of short-duration municipal bonds to help mange interest rate risk
  • Investment-Grade QualityEmphasizes investment-grade municipal bonds with high overall credit quality

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

Yields  as of  07/13/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.76%

Distribution Yield

3.24%

12 Month Yield

2.76%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Short Muni ETF would have been 2.76% on 07/13/26. Distributions may vary from time to time.

Performance

Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 02/22/08
SMB (NAV) 0.33 0.92 1.16 3.29 3.33 1.25 1.49 2.02
SMB (Market Price) 0.47 0.99 0.78 3.26 3.50 1.21 1.49 2.02
ICE Short AMT-Free Broad National Municipal Index 0.34 0.91 1.17 3.27 3.30 1.27 1.67 2.39
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 02/22/08
SMB (NAV) 0.33 0.92 1.16 3.29 3.33 1.25 1.49 2.02
SMB (Market Price) 0.47 0.99 0.78 3.26 3.50 1.21 1.49 2.02
ICE Short AMT-Free Broad National Municipal Index 0.34 0.91 1.17 3.27 3.30 1.27 1.67 2.39

*Returns less than one year are not annualized.

Index data prior to March 1, 2022 reflects that of the Bloomberg AMT-Free Short Continuous Municipal Index (LMT1TR). From March 1, 2022 to November 30, 2022, the index data reflects that of the ICE Short AMT-Free Broad National Municipal Transition Index (MSBT). From December 1, 2022 forward the index data reflects that of the Fund's underlying index the ICE Short AMT Free Broad National Municipal Index (MBNS) and is not intended for third party use.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

Holdings

Daily Holdings (%) as of 07/10/2026

Download XLS Get holdings
Total Holdings: 327
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.09
 5.000
07/15/2031
3,403,681
Charlotte-Mecklenburg Hospital Authorit
1.07
 5.000
01/15/2049
3,349,996
Indiana Finance Authority
1.07
 5.000
02/01/2032
3,349,275
State Of California
1.03
 5.000
04/01/2030
3,210,364
Southeast Energy Authority A Cooperativ
0.98
 4.000
12/01/2051
3,054,340
Commonwealth Of Massachusetts
0.95
 5.000
05/01/2031
2,968,637
State Of New Jersey
0.91
 2.000
06/01/2030
2,842,233
Kansas Development Finance Authority
0.86
 5.000
11/15/2054
2,686,106
New York City Housing Development Corp
0.82
 3.950
11/01/2064
2,562,849
Commonwealth Of Massachusetts
0.81
 5.000
10/01/2031
2,531,087
California Statewide Communities Develo
0.76
 1.750
09/01/2029
2,376,881
Massachusetts Water Resources Authority
0.72
 5.250
08/01/2030
2,253,746
Black Belt Energy Gas District
0.71
 4.000
10/01/2052
2,229,303
State Of Connecticut
0.71
 3.000
01/15/2032
2,227,018
Main Street Natural Gas Inc
0.69
 5.000
05/01/2054
2,168,995
Main Street Natural Gas Inc
0.69
 5.000
04/01/2054
2,152,751
County Of King Wa
0.68
 4.000
07/01/2030
2,137,282
Tennessee Energy Acquisition Corp
0.68
 5.000
05/01/2052
2,124,677
City & County Of Honolulu Hi
0.68
 5.000
03/01/2031
2,117,508
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,106,939
Texas Water Development Board
0.67
 4.000
10/15/2031
2,105,254
Fort Bend Independent School District
0.67
 5.000
08/15/2030
2,088,231
Conroe Independent School District
0.66
 5.000
02/15/2027
2,071,830
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,071,176
State Of Georgia
0.66
 5.000
02/01/2032
2,070,361
City Of Chicago Il
0.66
 5.000
01/01/2030
2,069,637
Central Florida Expressway Authority
0.66
 5.000
07/01/2038
2,053,145
State Of California
0.64
 5.000
04/01/2032
2,011,876
Los Angeles Unified School District/Ca
0.59
 5.000
07/01/2030
1,849,000
Energy Southeast A Cooperative District
0.59
 5.500
11/01/2053
1,841,132
State Of Connecticut Special Tax Revenu
0.59
 5.000
05/01/2031
1,831,744
State Of California
0.54
 5.000
10/01/2031
1,696,676
State Of Maryland
0.53
 5.000
03/15/2031
1,643,998
New Jersey Educational Facilities Autho
0.53
 5.000
07/01/2064
1,641,986
State Of California
0.52
 5.000
10/01/2031
1,633,205
Wisconsin Health & Educational Faciliti
0.52
 5.000
02/15/2032
1,619,977
State Of North Carolina
0.52
 5.000
03/01/2030
1,615,414
Indiana Finance Authority
0.51
 4.250
11/01/2030
1,604,644
New York City Transitional Finance Auth
0.51
 4.000
11/01/2030
1,583,163
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,546,268
Pefa Inc
0.49
 5.000
09/01/2049
1,532,288
California State University
0.49
 5.000
11/01/2031
1,528,366
Main Street Natural Gas Inc
0.49
 4.000
03/01/2050
1,524,874
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,509,696
Kern High School District
0.48
 2.000
08/01/2031
1,497,028
Frisco Independent School District
0.46
 4.000
02/15/2032
1,424,642
State Of California
0.44
 5.000
08/01/2027
1,372,499
State Of Ohio
0.44
 5.000
12/15/2031
1,366,193
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,351,229
County Of Allen Oh Hospital Facilities
0.43
 5.000
12/01/2029
1,340,344
City Of Columbus Oh
0.43
 5.000
04/01/2031
1,339,690
Central Plains Energy Project
0.41
 5.000
09/01/2031
1,291,844
Main Street Natural Gas Inc
0.41
 4.000
07/01/2052
1,283,217
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,256,591
New York Transportation Development Cor
0.40
 5.000
12/01/2030
1,251,683
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,242,831
Kentucky Public Energy Authority
0.40
 4.000
08/01/2052
1,238,791
New York City Transitional Finance Auth
0.39
 5.000
02/01/2030
1,231,806
State Of North Carolina
0.38
 5.000
06/01/2031
1,201,485
Jefferson County School District R-1
0.38
 5.000
12/15/2030
1,174,173
Minnesota Public Facilities Authority S
0.36
 5.000
03/01/2031
1,121,757
Triborough Bridge & Tunnel Authority
0.36
 5.000
11/15/2031
1,121,284
State Of California
0.36
 5.000
09/01/2030
1,118,957
New York City Transitional Finance Auth
0.35
 5.000
08/01/2031
1,103,495
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,098,493
Texas State Transportation Commission
0.35
 5.000
04/01/2030
1,098,457
Commonwealth Of Massachusetts
0.35
 5.000
05/01/2030
1,096,187
State Of California
0.35
 5.000
10/01/2029
1,092,213
State Of Washington
0.35
 5.000
06/01/2031
1,090,802
City Of New York Ny
0.35
 5.000
08/01/2029
1,090,656
Board Of Regents Of The University Of T
0.35
 5.000
08/15/2029
1,090,368
Denton Independent School District
0.35
 5.000
08/15/2029
1,089,447
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,086,682
County Of Allen Oh Hospital Facilities
0.35
 5.000
08/01/2030
1,086,113
Colorado Health Facilities Authority
0.35
 5.000
11/15/2060
1,085,054
Metropolitan Government Nashville & Dav
0.35
 5.000
07/01/2031
1,082,985
State Of Louisiana
0.35
 5.000
02/01/2029
1,082,683
New York State Dormitory Authority
0.35
 5.000
03/15/2029
1,082,303
State Of Maryland
0.35
 5.000
03/15/2029
1,081,655
New York City Transitional Finance Auth
0.35
 5.000
07/15/2031
1,079,445
Main Street Natural Gas Inc
0.35
 5.000
09/01/2053
1,079,279
Southeast Alabama Gas Supply District/T
0.34
 5.000
08/01/2054
1,075,465
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,074,918
Black Belt Energy Gas District
0.34
 5.500
06/01/2049
1,074,112
State Of California
0.34
 5.000
09/01/2028
1,073,301
State Of North Carolina
0.34
 5.000
05/01/2031
1,070,886
Main Street Natural Gas Inc
0.34
 5.000
07/01/2053
1,070,211
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,069,746
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,069,259
City Of Houston Tx
0.34
 5.000
03/01/2032
1,068,799
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,066,804
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,066,711
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,066,194
California Community Choice Financing A
0.34
 5.000
07/01/2053
1,064,823
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,059,500
New Jersey Health Care Facilities Finan
0.34
 5.000
07/01/2031
1,058,970
Minneapolis-St Paul Metropolitan Airpor
0.34
 5.000
01/01/2029
1,058,937
Texas Municipal Gas Acquisition & Suppl
0.34
 5.500
01/01/2054
1,058,823
University Of Connecticut
0.34
 5.000
04/15/2029
1,054,618
New York State Dormitory Authority
0.34
 5.000
08/01/2030
1,051,570
Commonwealth Of Pennsylvania
0.34
 5.000
07/15/2027
1,050,822
State Of California
0.34
 5.000
09/01/2027
1,049,771
Southeast Energy Authority A Cooperativ
0.34
 5.250
01/01/2054
1,049,086
City Of New York Ny
0.34
 5.000
09/01/2027
1,047,950
City Of New York Ny
0.34
 5.000
09/01/2027
1,047,950
State Of California
0.34
 5.000
10/01/2027
1,047,815
Commonwealth Of Pennsylvania
0.34
 5.000
09/01/2027
1,047,609
County Of Harris Tx Toll Road Revenue
0.33
 5.000
08/15/2027
1,047,426
Iowa Finance Authority
0.33
 5.000
08/01/2031
1,045,958
State Of California
0.33
 5.000
11/01/2028
1,044,542
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,042,783
County Of Baltimore Md
0.33
 5.000
03/01/2030
1,041,461
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,040,753
State Of Illinois
0.33
 5.000
11/01/2027
1,039,222
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,038,434
Energy Northwest
0.33
 --
07/01/2027
1,032,751
California Community Choice Financing A
0.33
 4.000
02/01/2052
1,029,542
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,026,278
Hillsboro School District No 1j
0.33
 5.000
06/15/2031
1,025,841
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2026
1,024,997
Massachusetts Water Resources Authority
0.33
 5.000
08/01/2040
1,023,854
State Of California
0.33
 5.000
09/01/2026
1,022,014
West Virginia Commissioner Of Highways
0.33
 5.000
09/01/2026
1,021,539
San Francisco City & County Public Util
0.33
 5.000
10/01/2026
1,020,251
Louisville/Jefferson County Metropolita
0.33
 5.000
10/01/2047
1,018,538
Pennsylvania Higher Educational Facilit
0.33
 4.000
08/15/2031
1,017,660
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2026
1,016,857
Metropolitan Council
0.32
 5.000
12/01/2026
1,015,496
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,015,370
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,013,808
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,013,580
Long Island Power Authority
0.32
 3.000
09/01/2055
1,013,173
New York City Housing Development Corp
0.32
 3.250
11/01/2064
1,010,647
California State Public Works Board
0.32
 4.000
11/01/2031
1,010,392
State Of Connecticut
0.32
 3.000
06/01/2029
1,009,418
New York City Housing Development Corp
0.32
 3.125
11/01/2065
1,008,950
State Of Hawaii
0.32
 3.000
10/01/2029
1,008,558
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,006,763
State Of Minnesota
0.32
 3.000
10/01/2030
1,005,903
New York City Housing Development Corp
0.32
 3.150
05/01/2066
1,005,374
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,003,115
State Of Florida
0.32
 3.000
06/01/2030
1,000,829
Board Of Regents Of The University Of T
0.31
 5.000
08/15/2031
977,499
State Of California
0.31
 5.000
11/01/2028
972,543
Fort Bend Independent School District
0.31
 5.000
02/15/2028
963,431
State Of Florida Department Of Transpor
0.31
 5.000
07/01/2030
954,901
State Of California Department Of Water
0.30
 5.000
12/01/2031
951,168
Collin County Community College Distric
0.30
 4.000
08/15/2031
950,179
State Of Washington
0.29
 5.000
08/01/2031
921,992
Beverly Hills Unified School District C
0.29
 --
08/01/2030
899,153
New York City Transitional Finance Auth
0.28
 5.000
02/01/2027
881,311
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
879,801
State Of New Mexico Severance Tax Perma
0.28
 5.000
07/01/2027
862,565
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
858,050
California State Public Works Board
0.27
 5.000
10/01/2026
846,680
State Of Washington
0.27
 5.000
08/01/2031
844,688
Public Finance Authority
0.27
 4.000
10/01/2041
835,422
State Of Louisiana
0.27
 5.000
03/01/2032
833,790
California State Public Works Board
0.26
 5.000
10/01/2028
820,461
State Of California
0.26
 5.000
10/01/2030
818,155
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
815,584
State Of Illinois
0.26
 5.000
11/01/2026
813,570
State Of North Carolina
0.26
 3.000
05/01/2031
798,826
County Of Montgomery Md
0.25
 4.000
08/01/2029
795,453
County Of Fairfax Va
0.25
 5.000
10/01/2031
789,791
City Of Columbus Oh
0.25
 5.000
04/01/2029
784,007
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
782,977
California Health Facilities Financing
0.25
 5.000
11/15/2031
780,354
State Of California
0.25
 5.000
04/01/2027
775,486
University Of Connecticut
0.25
 5.000
01/15/2030
772,481
State Of Maryland Department Of Transpo
0.25
 4.000
05/01/2030
772,469
Virginia Public Building Authority
0.24
 5.000
08/01/2029
754,351
Regional Transportation Authority
0.24
 5.000
07/01/2028
751,619
New Jersey Economic Development Authori
0.24
 3.125
07/01/2031
748,732
Energy Northwest
0.24
 5.000
07/01/2028
743,911
City Of South Miami Health Facilities A
0.24
 5.000
08/15/2029
741,492
Montgomery County Industrial Developmen
0.24
 4.100
06/01/2029
738,036
California State Public Works Board
0.23
 5.000
11/01/2029
734,497
State Of Georgia
0.23
 5.000
08/01/2026
716,762
New York State Urban Development Corp
0.23
 5.000
03/15/2027
713,630
New York City Transitional Finance Auth
0.23
 5.000
08/01/2031
706,463
Illinois Finance Authority
0.23
 5.000
07/01/2027
703,800
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
700,694
City Of New York Ny
0.22
 5.000
04/01/2032
698,451
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
690,252
State Of Illinois
0.22
 3.500
06/01/2029
687,990
Pennsylvania Housing Finance Agency
0.22
 2.800
10/01/2031
681,482
New York State Dormitory Authority
0.22
 5.000
03/15/2028
677,820
New Jersey Health Care Facilities Finan
0.22
 5.000
07/01/2029
675,854
Town Of Oyster Bay Ny
0.22
 3.250
02/01/2029
674,996
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
663,885
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
658,763
City Of San Antonio Tx Electric & Gas S
0.21
 5.000
02/01/2027
645,419
King County School District No 411 Issa
0.20
 4.000
12/01/2031
639,493
New York State Environmental Facilities
0.20
 5.000
06/15/2028
637,736
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
633,025
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
631,950
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
622,346
Virginia College Building Authority
0.20
 5.000
02/01/2027
622,036
City Of Dallas Tx Waterworks & Sewer Sy
0.20
 5.000
10/01/2031
611,548
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
608,546
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
607,564
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
606,748
State Of North Carolina
0.19
 5.000
05/01/2029
601,586
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
596,037
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
577,080
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
575,998
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
567,362
San Bernardino Community College Distri
0.18
 4.000
08/01/2049
560,591
Salt River Project Agricultural Improve
0.18
 5.000
01/01/2032
557,937
State Of California
0.18
 5.000
10/01/2027
555,342
Miami Beach Redevelopment Agency
0.18
 5.000
02/01/2031
554,626
City Of New York Ny
0.18
 5.000
08/01/2030
553,219
New York State Dormitory Authority
0.18
 5.000
03/15/2030
551,536
Utah Transit Authority
0.18
 5.000
12/15/2030
551,348
City Of New York Ny
0.18
 5.000
11/01/2030
548,210
Utah Transit Authority
0.17
 5.000
06/15/2030
545,606
Southeast Energy Authority A Cooperativ
0.17
 5.000
10/01/2030
543,822
Rutherford Cty Health & Edu Fac Brd
0.17
 5.000
11/15/2048
542,037
County Of Jefferson Al
0.17
 5.000
09/15/2028
541,779
Austin Independent School District
0.17
 5.000
08/01/2028
541,091
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
539,252
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
537,987
City Of New York Ny
0.17
 5.000
10/01/2031
537,977
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
537,334
City Of Houston Tx
0.17
 5.000
03/01/2032
536,074
City Of San Francisco Ca Public Utiliti
0.17
 5.000
11/01/2028
535,751
California Community Choice Financing A
0.17
 5.250
01/01/2054
535,500
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
534,562
California Community Choice Financing A
0.17
 5.000
02/01/2054
534,375
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
533,914
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
533,734
Shelby County Health Educational & Hous
0.17
 5.000
09/01/2049
532,873
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
531,983
State Of Maryland
0.17
 5.000
03/15/2028
530,302
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
529,357
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2031
528,438
New York State Dormitory Authority
0.17
 5.000
02/15/2027
528,330
American Municipal Power Inc
0.17
 5.000
02/15/2028
527,852
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2032
527,726
City Of New York Ny
0.17
 5.000
08/01/2027
525,018
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
524,298
State Of California
0.17
 5.000
10/01/2027
523,907
Arizona Industrial Development Authorit
0.17
 5.000
11/01/2028
523,816
California Health Facilities Financing
0.17
 5.000
11/01/2027
522,862
Grand River Dam Authority
0.17
 5.000
06/01/2031
522,561
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
521,637
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
521,459
State Of Michigan Trunk Line Revenue
0.17
 5.000
11/15/2027
521,392
Long Island Power Authority
0.17
 5.000
09/01/2026
521,186
Tobacco Settlement Financing Corp
0.17
 5.000
06/01/2031
521,016
Virginia Commonwealth Transportation Bo
0.17
 5.000
03/15/2027
520,532
Illinois Finance Authority
0.17
 5.000
01/01/2028
520,076
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
519,804
Tennessee Energy Acquisition Corp
0.17
 5.000
05/01/2053
519,213
New York State Dormitory Authority
0.17
 5.000
02/15/2027
517,970
City & County Of Honolulu Hi
0.17
 5.000
03/01/2027
517,811
New York State Urban Development Corp
0.17
 5.000
03/15/2027
517,123
State Of Maryland
0.17
 5.000
03/15/2028
516,810
University Of Colorado
0.17
 4.000
06/01/2034
516,672
Montgomery County Industrial Developmen
0.17
 4.100
10/01/2053
516,199
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
515,642
Lower Colorado River Authority
0.16
 5.000
05/15/2027
514,781
California Community Choice Financing A
0.16
 4.000
05/01/2053
514,439
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
513,771
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,674
Butler County Unified School District N
0.16
 4.000
09/01/2030
513,360
Maryland Community Development Administ
0.16
 3.300
01/01/2029
513,343
San Diego Public Facilities Financing A
0.16
 5.000
08/01/2027
511,935
Tennessee Energy Acquisition Corp
0.16
 5.625
09/01/2026
511,730
Illinois Finance Authority
0.16
 5.000
08/15/2026
511,362
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
511,070
California State Public Works Board
0.16
 5.000
09/01/2026
511,007
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
510,574
New Jersey Health Care Facilities Finan
0.16
 5.000
09/15/2026
510,427
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
508,936
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
508,480
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
508,241
City Of Forsyth Mt
0.16
 3.875
07/01/2028
508,109
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
507,864
State Of Colorado
0.16
 5.000
12/15/2026
507,531
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
507,425
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
507,285
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
506,881
North Texas Tollway Authority
0.16
 5.000
01/01/2027
506,717
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
506,679
East County Advanced Water Purification
0.16
 3.125
09/01/2026
505,782
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
505,611
Michigan State Housing Development Auth
0.16
 3.700
04/01/2030
505,313
New York State Housing Finance Agency
0.16
 3.600
11/01/2063
504,955
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
504,382
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
504,022
State Of Maryland Department Of Transpo
0.16
 3.000
09/01/2031
504,002
City Of San Antonio Tx Electric & Gas S
0.16
 3.150
02/01/2055
503,630
County Of Bexar Tx
0.16
 5.000
06/15/2027
502,873
California State University
0.16
 3.125
11/01/2051
502,744
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
501,842
California State Public Works Board
0.16
 3.000
09/01/2031
501,420
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
494,473
County Of Miami-Dade Fl
0.15
 --
10/01/2031
462,584
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
458,855
State Of Mississippi
0.14
 5.000
10/01/2029
448,862
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
437,294
Pennsylvania Housing Finance Agency
0.14
 3.200
10/01/2031
426,009
City Of New York Ny
0.14
 5.000
03/01/2027
424,370
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
420,595
State Of Michigan
0.13
 3.000
05/01/2030
411,808
Lone Star College System
0.13
 5.000
02/15/2033
409,063
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
407,942
State Of Maryland
0.13
 5.000
08/01/2026
394,209
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
389,911
Oakland Unified School District/Alameda
0.12
 5.000
08/01/2026
389,078
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
386,566
County Of Wake Nc
0.12
 5.000
09/01/2026
383,159
University Of Utah/The
0.12
 5.000
08/01/2031
381,393
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
368,236
City Of Chicago Il
0.12
 5.000
01/01/2027
367,918
Canadian County Educational Facilities
0.11
 3.000
09/01/2029
331,932
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
327,554
Long Island Power Authority
0.10
 5.000
09/01/2031
318,342
California Health Facilities Financing
0.10
 5.000
08/15/2031
317,037
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
275,960
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
264,560
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
264,533
Texas Water Development Board
0.08
 5.000
04/15/2030
260,569
County Of Mecklenburg Nc
0.08
 2.000
12/01/2030
237,618
--
1.14
 --
--
3,564,418
Other/Cash
0.16
 --
--
513,109
← Scroll for more information →
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

Sector Weightings (%) as at 06/30/2026

  • Sector

    % of Net Assets

  • State GO

    18.47

  • Local GO

    14.68

  • Utilities - Other

    9.54

  • Tax

    9.53

  • Hospitals

    7.40

  • Power

    6.58

  • Education

    6.25

  • Water & Sewer

    5.49

  • Transportation

    5.25

  • Leasing COPS & Appropriations

    4.29

  • Refunded

    3.28

  • Multi-Family Housing

    2.51

  • Toll & Turnpike

    2.09

  • Airport

    1.04

  • Misc

    0.93

  • Pollution Control

    0.92

  • Single Family Housing

    0.67

  • Industrial Development Revenue

    0.64

  • Tobacco

    0.17

  • Health

    0.16

  • Unassigned

    0.10

Credit Quality (%) as of 06/30/2026

Composite % of Net Assets
Investment Grade AAA 19.34
AA 47.97
A 21.07
BBB 4.27
Total Investment Grade -- 92.65
Not Rated -- 7.35
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Years to Maturity as at 06/30/2026

  • Years

    Maturity (%)

  • < 1

    15.20

  • 1 - 3

    21.60

  • 3 - 5

    36.80

  • 5 - 7

    26.40

  • 7 - 10

    0.00

  • 10 - 15

    0.00

  • 15 - 20

    0.00

  • 20 - 30

    0.00

  • 30 +

    0.00

Fees

Distributions

Distribution History

Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains
Ex-date Record
Date 		Payable date Dividend
Income‡ 		Short-Term
Capital Gains 		Long-Term
Capital Gains 		Return of
Capital 		Total
Distributions
07/01/2026 07/01/2026 07/07/2026 $ 0.0467 -- -- -- $ 0.05
06/01/2026 06/01/2026 06/04/2026 $ 0.0356 -- -- -- $ 0.04
05/01/2026 05/01/2026 05/06/2026 $ 0.0387 -- -- -- $ 0.04
04/01/2026 04/01/2026 04/07/2026 $ 0.0458 -- -- -- $ 0.05
03/02/2026 03/02/2026 03/05/2026 $ 0.0356 -- -- -- $ 0.04
02/02/2026 02/02/2026 02/05/2026 $ 0.0398 -- -- -- $ 0.04
12/29/2025 12/29/2025 12/31/2025 $ 0.0405 -- -- -- $ 0.04
11/28/2025 11/28/2025 12/03/2025 $ 0.0372 -- -- -- $ 0.04
11/03/2025 11/03/2025 11/06/2025 $ 0.0405 -- -- -- $ 0.04
10/01/2025 10/01/2025 10/06/2025 $ 0.0371 -- -- -- $ 0.04
09/02/2025 09/02/2025 09/05/2025 $ 0.0389 -- -- -- $ 0.04
08/01/2025 08/01/2025 08/06/2025 $ 0.0402 -- -- -- $ 0.04
07/01/2025 07/01/2025 07/07/2025 $ 0.0368 -- -- -- $ 0.04
06/02/2025 06/02/2025 06/05/2025 $ 0.0384 -- -- -- $ 0.04
05/01/2025 05/01/2025 05/06/2025 $ 0.0356 -- -- -- $ 0.04
04/01/2025 04/01/2025 04/04/2025 $ 0.0432 -- -- -- $ 0.04
03/03/2025 03/03/2025 03/06/2025 $ 0.0325 -- -- -- $ 0.03
02/03/2025 02/03/2025 02/06/2025 $ 0.0366 -- -- -- $ 0.04
12/27/2024 12/27/2024 12/30/2024 $ 0.0368 -- -- -- $ 0.04
12/02/2024 12/02/2024 12/05/2024 $ 0.0340 -- -- -- $ 0.03
11/01/2024 11/01/2024 11/06/2024 $ 0.0372 -- -- -- $ 0.04
10/01/2024 10/01/2024 10/04/2024 $ 0.0344 -- -- -- $ 0.03
09/03/2024 09/03/2024 09/06/2024 $ 0.0347 -- -- -- $ 0.03
08/01/2024 08/01/2024 08/06/2024 $ 0.0368 -- -- -- $ 0.04
07/01/2024 07/01/2024 07/05/2024 $ 0.0329 -- -- -- $ 0.03
06/03/2024 06/03/2024 06/06/2024 $ 0.0250 -- -- -- $ 0.03
05/01/2024 05/02/2024 05/07/2024 $ 0.0300 -- -- -- $ 0.03
04/01/2024 04/02/2024 04/05/2024 $ 0.0442 -- -- -- $ 0.04
03/01/2024 03/04/2024 03/07/2024 $ 0.0292 -- -- -- $ 0.03
02/01/2024 02/02/2024 02/07/2024 $ 0.0315 -- -- -- $ 0.03
12/27/2023 12/28/2023 12/29/2023 $ 0.0314 -- -- -- $ 0.03
12/01/2023 12/04/2023 12/07/2023 $ 0.0274 -- -- -- $ 0.03
11/01/2023 11/02/2023 11/07/2023 $ 0.0300 -- -- -- $ 0.03
10/02/2023 10/03/2023 10/06/2023 $ 0.0269 -- -- -- $ 0.03
09/01/2023 09/05/2023 09/08/2023 $ 0.0245 -- -- -- $ 0.02
08/01/2023 08/02/2023 08/10/2023 $ 0.0312 -- -- -- $ 0.03
07/03/2023 07/05/2023 07/07/2023 $ 0.0240 -- -- -- $ 0.02
06/01/2023 06/02/2023 06/07/2023 $ 0.0246 -- -- -- $ 0.02
05/01/2023 05/02/2023 05/05/2023 $ 0.0219 -- -- -- $ 0.02
04/03/2023 04/04/2023 04/10/2023 $ 0.0297 -- -- -- $ 0.03
03/01/2023 03/02/2023 03/07/2023 $ 0.0185 -- -- -- $ 0.02
02/01/2023 02/02/2023 02/07/2023 $ 0.0227 -- -- -- $ 0.02
12/28/2022 12/29/2022 12/30/2022 $ 0.0231 -- -- -- $ 0.02
12/01/2022 12/02/2022 12/07/2022 $ 0.0197 -- -- -- $ 0.02
11/01/2022 11/02/2022 11/07/2022 $ 0.0215 -- -- -- $ 0.02
10/03/2022 10/04/2022 10/07/2022 $ 0.0180 -- -- -- $ 0.02
09/01/2022 09/02/2022 09/08/2022 $ 0.0191 -- -- -- $ 0.02
08/01/2022 08/02/2022 08/05/2022 $ 0.0205 -- -- -- $ 0.02
07/01/2022 07/05/2022 07/08/2022 $ 0.0204 -- -- -- $ 0.02
06/01/2022 06/02/2022 06/07/2022 $ 0.0166 -- -- -- $ 0.02
05/02/2022 05/03/2022 05/06/2022 $ 0.0172 -- -- -- $ 0.02
04/01/2022 04/04/2022 04/07/2022 $ 0.0178 -- -- -- $ 0.02
03/01/2022 03/02/2022 03/07/2022 $ 0.0131 -- -- -- $ 0.01
02/01/2022 02/02/2022 02/07/2022 $ 0.0151 -- -- -- $ 0.02
12/29/2021 12/30/2021 12/31/2021 $ 0.0169 $ 0.0018 $ 0.0226 -- $ 0.04
12/01/2021 12/02/2021 12/07/2021 $ 0.0142 -- -- -- $ 0.01
11/01/2021 11/02/2021 11/05/2021 $ 0.0168 -- -- -- $ 0.02
10/01/2021 10/04/2021 10/07/2021 $ 0.0143 -- -- -- $ 0.01
09/01/2021 09/02/2021 09/08/2021 $ 0.0159 -- -- -- $ 0.02
08/02/2021 08/03/2021 08/06/2021 $ 0.0175 -- -- -- $ 0.02
07/01/2021 07/02/2021 07/08/2021 $ 0.0162 -- -- -- $ 0.02
06/01/2021 06/02/2021 06/07/2021 $ 0.0177 -- -- -- $ 0.02
05/03/2021 05/04/2021 05/07/2021 $ 0.0167 -- -- -- $ 0.02
04/01/2021 04/05/2021 04/08/2021 $ 0.0189 -- -- -- $ 0.02
03/01/2021 03/02/2021 03/05/2021 $ 0.0148 -- -- -- $ 0.01
02/01/2021 02/02/2021 02/05/2021 $ 0.0178 -- -- -- $ 0.02
12/29/2020 12/30/2020 01/05/2021 $ 0.0222 -- -- -- $ 0.02
12/01/2020 12/02/2020 12/07/2020 $ 0.0199 -- -- -- $ 0.02
11/02/2020 11/03/2020 11/06/2020 $ 0.0232 -- -- -- $ 0.02
10/01/2020 10/02/2020 10/07/2020 $ 0.0207 -- -- -- $ 0.02
09/01/2020 09/02/2020 09/08/2020 $ 0.0226 -- -- -- $ 0.02
08/03/2020 08/04/2020 08/07/2020 $ 0.0248 -- -- -- $ 0.02
07/01/2020 07/02/2020 07/08/2020 $ 0.0216 -- -- -- $ 0.02
06/01/2020 06/02/2020 06/05/2020 $ 0.0245 -- -- -- $ 0.02
05/01/2020 05/04/2020 05/07/2020 $ 0.0236 -- -- -- $ 0.02
04/01/2020 04/02/2020 04/07/2020 $ 0.0244 -- -- -- $ 0.02
03/02/2020 03/03/2020 03/06/2020 $ 0.0212 -- -- -- $ 0.02
02/03/2020 02/04/2020 02/07/2020 $ 0.0234 -- -- -- $ 0.02
12/30/2019 12/31/2019 01/06/2020 $ 0.0247 -- -- -- $ 0.02
12/02/2019 12/03/2019 12/06/2019 $ 0.0240 -- -- -- $ 0.02
11/01/2019 11/04/2019 11/07/2019 $ 0.0233 -- -- -- $ 0.02
10/01/2019 10/02/2019 10/07/2019 $ 0.0226 -- -- -- $ 0.02
09/03/2019 09/04/2019 09/09/2019 $ 0.0236 -- -- -- $ 0.02
08/01/2019 08/02/2019 08/07/2019 $ 0.0238 -- -- -- $ 0.02
07/01/2019 07/02/2019 07/08/2019 $ 0.0231 -- -- -- $ 0.02
06/03/2019 06/04/2019 06/07/2019 $ 0.0227 -- -- -- $ 0.02
05/01/2019 05/02/2019 05/07/2019 $ 0.0233 -- -- -- $ 0.02
04/01/2019 04/02/2019 04/05/2019 $ 0.0240 -- -- -- $ 0.02
03/01/2019 03/04/2019 03/07/2019 $ 0.0220 -- -- -- $ 0.02
02/01/2019 02/04/2019 02/07/2019 $ 0.0240 -- -- -- $ 0.02
12/27/2018 12/28/2018 01/03/2019 $ 0.0237 -- -- -- $ 0.02
12/03/2018 12/04/2018 12/07/2018 $ 0.0224 -- -- -- $ 0.02
11/01/2018 11/02/2018 11/07/2018 $ 0.0228 -- -- -- $ 0.02
10/01/2018 10/02/2018 10/05/2018 $ 0.0221 -- -- -- $ 0.02
09/04/2018 09/05/2018 09/10/2018 $ 0.0224 -- -- -- $ 0.02
08/01/2018 08/02/2018 08/07/2018 $ 0.0223 -- -- -- $ 0.02
07/02/2018 07/03/2018 07/09/2018 $ 0.0223 -- -- -- $ 0.02
06/01/2018 06/04/2018 06/07/2018 $ 0.0223 -- -- -- $ 0.02
05/01/2018 05/02/2018 05/07/2018 $ 0.0200 -- -- -- $ 0.02
04/02/2018 04/03/2018 04/06/2018 $ 0.0203 -- -- -- $ 0.02
03/01/2018 03/02/2018 03/07/2018 $ 0.0178 -- -- -- $ 0.02
02/01/2018 02/02/2018 02/07/2018 $ 0.0198 -- -- -- $ 0.02
12/27/2017 12/28/2017 01/03/2018 $ 0.0188 -- -- -- $ 0.02
12/01/2017 12/04/2017 12/07/2017 $ 0.0178 -- -- -- $ 0.02
11/01/2017 11/02/2017 11/07/2017 $ 0.0183 -- -- -- $ 0.02
10/02/2017 10/03/2017 10/06/2017 $ 0.0175 -- -- -- $ 0.02
09/01/2017 09/06/2017 09/08/2017 $ 0.0179 -- -- -- $ 0.02
08/01/2017 08/03/2017 08/07/2017 $ 0.0178 -- -- -- $ 0.02
07/03/2017 07/06/2017 07/10/2017 $ 0.0175 -- -- -- $ 0.02
06/01/2017 06/05/2017 06/07/2017 $ 0.0188 -- -- -- $ 0.02
05/01/2017 05/03/2017 05/05/2017 $ 0.0171 -- -- -- $ 0.02
04/03/2017 04/05/2017 04/07/2017 $ 0.0177 -- -- -- $ 0.02
03/01/2017 03/03/2017 03/07/2017 $ 0.0153 -- -- -- $ 0.02
02/01/2017 02/03/2017 02/07/2017 $ 0.0170 -- -- -- $ 0.02
12/28/2016 12/30/2016 01/04/2017 $ 0.0166 -- -- -- $ 0.02
12/01/2016 12/05/2016 12/07/2016 $ 0.0154 -- -- -- $ 0.02
11/01/2016 11/03/2016 11/07/2016 $ 0.0155 -- -- -- $ 0.02
10/03/2016 10/05/2016 10/07/2016 $ 0.0155 -- -- -- $ 0.02
09/01/2016 09/06/2016 09/08/2016 $ 0.0160 -- -- -- $ 0.02
08/01/2016 08/03/2016 08/05/2016 $ 0.0160 -- -- -- $ 0.02
07/01/2016 07/06/2016 07/08/2016 $ 0.0160 -- -- -- $ 0.02
06/01/2016 06/03/2016 06/07/2016 $ 0.0168 -- -- -- $ 0.02
05/02/2016 05/04/2016 05/06/2016 $ 0.0163 -- -- -- $ 0.02
04/01/2016 04/05/2016 04/07/2016 $ 0.0168 -- -- -- $ 0.02
03/01/2016 03/03/2016 03/07/2016 $ 0.0158 -- -- -- $ 0.02
02/01/2016 02/03/2016 02/05/2016 $ 0.0170 -- -- -- $ 0.02
12/29/2015 12/31/2015 01/05/2016 $ 0.0170 -- -- -- $ 0.02
12/01/2015 12/03/2015 12/07/2015 $ 0.0164 -- -- -- $ 0.02
11/02/2015 11/04/2015 11/06/2015 $ 0.0175 -- -- -- $ 0.02
10/01/2015 10/05/2015 10/07/2015 $ 0.0168 -- -- -- $ 0.02
09/01/2015 09/03/2015 09/08/2015 $ 0.0167 -- -- -- $ 0.02
08/03/2015 08/05/2015 08/07/2015 $ 0.0165 -- -- -- $ 0.02
07/01/2015 07/06/2015 07/08/2015 $ 0.0162 -- -- -- $ 0.02
06/01/2015 06/03/2015 06/05/2015 $ 0.0166 -- -- -- $ 0.02
05/01/2015 05/05/2015 05/07/2015 $ 0.0160 -- -- -- $ 0.02
04/01/2015 04/06/2015 04/08/2015 $ 0.0166 -- -- -- $ 0.02
03/02/2015 03/04/2015 03/06/2015 $ 0.0150 -- -- -- $ 0.01
02/02/2015 02/04/2015 02/06/2015 $ 0.0169 -- -- -- $ 0.02
12/29/2014 12/31/2014 01/05/2015 $ 0.0169 -- -- -- $ 0.02
12/01/2014 12/03/2014 12/05/2014 $ 0.0160 -- -- -- $ 0.02
11/03/2014 11/05/2014 11/07/2014 $ 0.0171 -- -- -- $ 0.02
10/01/2014 10/03/2014 10/07/2014 $ 0.0162 -- -- -- $ 0.02
09/02/2014 09/04/2014 09/08/2014 $ 0.0174 -- -- -- $ 0.02
08/01/2014 08/05/2014 08/07/2014 $ 0.0175 -- -- -- $ 0.02
07/01/2014 07/03/2014 07/08/2014 $ 0.0169 -- -- -- $ 0.02
06/02/2014 06/04/2014 06/06/2014 $ 0.0178 -- -- -- $ 0.02
05/01/2014 05/05/2014 05/07/2014 $ 0.0180 -- -- -- $ 0.02
04/01/2014 04/03/2014 04/07/2014 $ 0.0184 -- -- -- $ 0.02
03/03/2014 03/05/2014 03/07/2014 $ 0.0202 -- -- -- $ 0.02
02/03/2014 02/05/2014 02/07/2014 $ 0.0205 -- -- -- $ 0.02
12/27/2013 12/31/2013 01/03/2014 $ 0.0209 -- -- -- $ 0.02
12/02/2013 12/04/2013 12/06/2013 $ 0.0203 -- -- -- $ 0.02
11/01/2013 11/05/2013 11/07/2013 $ 0.0232 -- -- -- $ 0.02
10/01/2013 10/03/2013 10/07/2013 $ 0.0198 -- -- -- $ 0.02
09/03/2013 09/05/2013 09/09/2013 $ 0.0204 -- -- -- $ 0.02
08/01/2013 08/05/2013 08/07/2013 $ 0.0194 -- -- -- $ 0.02
07/01/2013 07/03/2013 07/08/2013 $ 0.0195 -- -- -- $ 0.02
06/03/2013 06/05/2013 06/07/2013 $ 0.0200 -- -- -- $ 0.02
05/01/2013 05/03/2013 05/07/2013 $ 0.0200 -- -- -- $ 0.02
04/01/2013 04/03/2013 04/05/2013 $ 0.0204 -- -- -- $ 0.02
03/01/2013 03/05/2013 03/07/2013 $ 0.0186 -- -- -- $ 0.02
02/01/2013 02/05/2013 02/07/2013 $ 0.0202 -- -- -- $ 0.02
12/27/2012 12/31/2012 01/03/2013 $ 0.0213 -- $ 0.0110 -- $ 0.03
12/03/2012 12/05/2012 12/07/2012 $ 0.0205 -- -- -- $ 0.02
11/01/2012 11/05/2012 11/07/2012 $ 0.0210 -- -- -- $ 0.02
10/01/2012 10/03/2012 10/05/2012 $ 0.0213 -- -- -- $ 0.02
09/04/2012 09/07/2012 09/10/2012 $ 0.0226 -- -- -- $ 0.02
08/01/2012 08/03/2012 08/07/2012 $ 0.0234 -- -- -- $ 0.02
07/02/2012 07/05/2012 07/09/2012 $ 0.0233 -- -- -- $ 0.02
06/01/2012 06/05/2012 06/07/2012 $ 0.0245 -- -- -- $ 0.02
05/01/2012 05/03/2012 05/07/2012 $ 0.0243 -- -- -- $ 0.02
04/02/2012 04/04/2012 04/09/2012 $ 0.0258 -- -- -- $ 0.03
03/01/2012 03/05/2012 03/07/2012 $ 0.0248 -- -- -- $ 0.02
02/01/2012 02/03/2012 02/07/2012 $ 0.0265 -- -- -- $ 0.03
12/28/2011 12/30/2011 01/04/2012 $ 0.0279 -- $ 0.0002 -- $ 0.03
12/01/2011 12/05/2011 12/07/2011 $ 0.0270 -- -- -- $ 0.03
11/01/2011 11/03/2011 11/07/2011 $ 0.0270 -- -- -- $ 0.03
10/03/2011 10/05/2011 10/07/2011 $ 0.0270 -- -- -- $ 0.03
09/01/2011 09/06/2011 09/08/2011 $ 0.0282 -- -- -- $ 0.03
08/01/2011 08/03/2011 08/05/2011 $ 0.0290 -- -- -- $ 0.03
07/01/2011 07/06/2011 07/08/2011 $ 0.0268 -- -- -- $ 0.03
06/01/2011 06/03/2011 06/07/2011 $ 0.0290 -- -- -- $ 0.03
05/02/2011 05/04/2011 05/06/2011 $ 0.0275 -- -- -- $ 0.03
04/01/2011 04/05/2011 04/07/2011 $ 0.0330 -- -- -- $ 0.03
03/01/2011 03/03/2011 03/07/2011 $ 0.0281 -- -- -- $ 0.03
02/01/2011 02/03/2011 02/07/2011 $ 0.0310 -- -- -- $ 0.03
12/29/2010 12/31/2010 01/05/2011 $ 0.0300 $ 0.0210 $ 0.0370 -- $ 0.09
12/01/2010 12/03/2010 12/07/2010 $ 0.0280 -- -- -- $ 0.03
11/01/2010 11/03/2010 11/05/2010 $ 0.0290 -- -- -- $ 0.03
10/01/2010 10/05/2010 10/07/2010 $ 0.0290 -- -- -- $ 0.03
09/01/2010 09/03/2010 09/08/2010 $ 0.0300 -- -- -- $ 0.03
08/02/2010 08/04/2010 08/06/2010 $ 0.0300 -- -- -- $ 0.03
07/01/2010 07/06/2010 07/08/2010 $ 0.0290 -- -- -- $ 0.03
06/01/2010 06/03/2010 06/07/2010 $ 0.0300 -- -- -- $ 0.03
05/03/2010 05/05/2010 05/07/2010 $ 0.0300 -- -- -- $ 0.03
04/01/2010 04/06/2010 04/08/2010 $ 0.0300 -- -- -- $ 0.03
03/01/2010 03/03/2010 03/05/2010 $ 0.0280 -- -- -- $ 0.03
02/01/2010 02/03/2010 02/05/2010 $ 0.0300 -- -- -- $ 0.03
12/29/2009 12/31/2009 01/05/2010 $ 0.0325 -- -- -- $ 0.03
12/01/2009 12/03/2009 12/07/2009 $ 0.0310 -- -- -- $ 0.03
11/02/2009 11/04/2009 11/06/2009 $ 0.0320 -- -- -- $ 0.03
10/01/2009 10/05/2009 10/07/2009 $ 0.0300 -- -- -- $ 0.03
09/01/2009 09/03/2009 09/08/2009 $ 0.0315 -- -- -- $ 0.03
08/03/2009 08/05/2009 08/07/2009 $ 0.0360 -- -- -- $ 0.04
07/01/2009 07/06/2009 07/08/2009 $ 0.0340 -- -- -- $ 0.03
06/01/2009 06/03/2009 06/05/2009 $ 0.0350 -- -- -- $ 0.04
05/01/2009 05/05/2009 05/07/2009 $ 0.0370 -- -- -- $ 0.04
04/01/2009 04/03/2009 04/07/2009 $ 0.0400 -- -- -- $ 0.04
03/02/2009 03/04/2009 03/06/2009 $ 0.0360 -- -- -- $ 0.04
02/02/2009 02/04/2009 02/06/2009 $ 0.0380 -- -- -- $ 0.04
12/26/2008 12/30/2008 01/06/2009 $ 0.0370 -- -- -- $ 0.04
12/01/2008 12/03/2008 12/05/2008 $ 0.0450 -- -- -- $ 0.04
11/03/2008 11/05/2008 11/07/2008 $ 0.0340 -- -- -- $ 0.03
10/01/2008 10/03/2008 10/07/2008 $ 0.0367 -- -- -- $ 0.04
09/02/2008 09/04/2008 09/09/2008 $ 0.0393 -- -- -- $ 0.04
08/01/2008 08/05/2008 08/07/2008 $ 0.0377 -- -- -- $ 0.04
07/01/2008 07/03/2008 07/08/2008 $ 0.0367 -- -- -- $ 0.04
06/02/2008 06/04/2008 06/06/2008 $ 0.0400 -- -- -- $ 0.04
05/01/2008 05/05/2008 05/07/2008 $ 0.0100 -- -- -- $ 0.01
04/01/2008 04/03/2008 04/08/2008 $ 0.0687 -- -- -- $ 0.07

‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.

Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.

The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.

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