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XMPT
VanEck Vectors CEF Municipal Income ETF

  • Fund Description

    The VanEck Vectors® CEF Municipal Income ETF (XMPT®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of S-Network Municipal Bond Closed-End Fund Index (CEFMXTR), which is intended to track the overall performance of the U.S.-listed closed-end funds that invest in U.S. dollar denominated tax-exempt market.

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    • Fund Ticker

      XMPT
    • Exchange

      NYSE Arca
    • Commencement

      07/12/2011
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      CEFMXTR
    • Index Rebalancing

      Quarterly
  •  
    as of 09/22/17

    • 30-Day SEC Yield1

      4.73%
    • Total Net Assets

      $98.3M
    • Number of Holdings

      71
    • Options

      Expected
    • Gross Expense Ratio2

      1.70%
    • Net Expense Ratio/TER2

      1.59%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      09/29/2017
  • Portfolio Composition (%)
    as of 09/22/17

    • % of Net Assets
    • Stocks

      0.00
    • Bonds

      0.00
    • Other

      99.80
    • Cash

      0.20
    XMPT is a "fund of funds" and invests its assets in other funds. At least 80% of the Fund's total assets are invested in securities of issuers that comprise the Fund’s benchmark index, the CEFMX Index, which includes shares of U.S.-listed closed-end funds that invest in municipal bonds.
  • Download All Fund Holdings »Daily Holdings (%) as of 09/22/17

    Total Holdings: 71
    Holding Name
    Ticker
    SharesMarket Value
    (US$)
    % of Net
    Assets
    Nuveen Amt-Free Municipal Credit Income
    NVG US
    512,278
    7,981,2918.12
    Nuveen Amt-Free Quality Municipal Incom
    NEA US
    566,869
    7,873,8108.01
    Nuveen Quality Municipal Income Fund
    NAD US
    551,963
    7,859,9538.00
    Nuveen Municipal Credit Income Fund
    NZF US
    405,323
    6,181,1766.29
    Nuveen Municipal Value Fund Inc
    NUV US
    430,134
    4,413,1754.49
    Blackrock Municipal 2030 Target Term Tr
    BTT US
    146,444
    3,328,6723.39
    Eaton Vance Municipal Bond Fund
    EIM US
    199,910
    2,556,8492.60
    Invesco Municipal Opportunity Trust
    VMO US
    172,375
    2,259,8362.30
    Invesco Trust For Investment Grade Muni
    VGM US
    154,414
    2,083,0452.12
    Invesco Value Municipal Income Trust
    IIM US
    136,704
    2,058,7622.10
    Invesco Municipal Trust
    VKQ US
    158,460
    2,039,3802.08
    Blackrock Muniyield Quality Fund Iii In
    MYI US
    138,840
    2,010,4032.05
    Invesco Quality Municipal Income Trust
    IQI US
    153,668
    1,968,4872.00
    Blackrock Muni Intermediate Duration Fu
    MUI US
    112,623
    1,607,1301.64
    Nuveen Intermediate Duration Municipal
    NID US
    119,061
    1,601,3701.63
    Invesco Advantage Municipal Income Trus
    VKI US
    127,205
    1,474,3061.50
    Nuveen Municipal High Income Opportunit
    NMZ US
    108,296
    1,470,6601.50
    Putnam Municipal Opportunities Trust
    PMO US
    113,294
    1,428,6371.45
    Blackrock Muniyield Fund Inc
    MYD US
    93,540
    1,421,8081.45
    Blackrock Municipal Income Trust
    BFK US
    92,295
    1,327,2021.35
    Blackrock Munivest Fund Inc
    MVF US
    130,560
    1,270,3491.29
    Western Asset Managed Municipals Fund I
    MMU US
    88,292
    1,251,9811.27
    Pimco Municipal Income Fund Ii
    PML US
    90,241
    1,187,5721.21
    Alliancebernstein National Municipal In
    AFB US
    84,822
    1,180,7221.20
    Blackrock Muniholdings Investment Quali
    MFL US
    77,535
    1,156,8221.18
    Mainstay Definedterm Municipal Opportun
    MMD US
    56,633
    1,135,4921.16
    Blackrock Municipal Income Quality Trus
    BYM US
    75,012
    1,111,6781.13
    Putnam Managed Municipal Income Trust
    PMM US
    146,511
    1,101,7631.12
    Blackrock Muniyield Quality Fund Inc
    MQY US
    63,340
    983,0371.00
    Dreyfus Strategic Municipals Inc
    LEO US
    110,023
    975,9040.99
    Nuveen Enhanced Municipal Value Fund
    NEV US
    64,720
    957,8560.97
    Blackrock Muniyield Quality Fund Ii Inc
    MQT US
    64,289
    864,0440.88
    Dreyfus Strategic Municipal Bond Fund I
    DSM US
    99,585
    849,4600.86
    Blackrock Muniassets Fund Inc
    MUA US
    54,317
    822,3590.84
    Blackrock Muniholdings Quality Fund Ii
    MUE US
    57,806
    812,1740.83
    Pioneer Municipal High Income Trust
    MHI US
    66,318
    807,0900.82
    Mfs Municipal Income Trust
    MFM US
    105,152
    759,1970.77
    Deutsche Municipal Income Trust
    KTF US
    58,524
    750,8630.76
    Blackrock Munienhanced Fund Inc
    MEN US
    60,432
    731,2270.74
    Nuveen Select Tax-Free Income2 Portfoli
    NXQ US
    50,720
    717,1810.73
    Nuveen Select Tax-Free Income Portfolio
    NXP US
    47,378
    707,8270.72
    Dreyfus Municipal Bond Infrastructure F
    DMB US
    53,176
    707,7730.72
    Pioneer Municipal High Income Advantage
    MAV US
    60,875
    704,9330.72
    Eaton Vance National Municipal Opportun
    EOT US
    30,258
    695,6310.71
    Blackrock Investment Quality Municipal
    BKN US
    45,195
    683,8000.70
    Eaton Vance Municipal Income Trust
    EVN US
    49,946
    647,3000.66
    Blackrock Municipal Income Trust Ii
    BLE US
    41,720
    638,7330.65
    Neuberger Berman Intermediate Municipal
    NBH US
    38,450
    592,8990.60
    Pimco Municipal Income Fund Iii
    PMX US
    48,859
    581,9110.59
    Blackrock Munivest Fund Ii Inc
    MVT US
    36,753
    576,2870.59
    Invesco Municipal Income Opportunities
    OIA US
    72,283
    572,4810.58
    Blackrock Municipal 2020 Term Trust
    BKK US
    36,039
    564,0100.57
    Nuveen Select Tax-Free Income3 Portfoli
    NXR US
    36,902
    559,0650.57
    Pimco Municipal Income Fund
    PMF US
    37,769
    526,5000.54
    Blackrock Muniholdings Fund Inc
    MHD US
    28,521
    501,3990.51
    Nuveen Intermediate Duration Quality Mu
    NIQ US
    37,461
    494,8600.50
    Western Asset Municipal High Income Fun
    MHF US
    63,207
    488,5900.50
    Dreyfus Municipal Income Inc
    DMF US
    53,498
    488,1690.50
    Blackrock Municipal 2018 Term Trust
    BPK US
    32,368
    486,1670.49
    Blackrock Muniholdings Quality Fund Inc
    MUS US
    33,279
    461,9130.47
    Eaton Vance Municipal Income 2028 Term
    ETX US
    22,305
    461,2670.47
    Nuveen Amt-Free Municipal Value Fund
    NUW US
    25,975
    450,1470.46
    Blackrock Long-Term Municipal Advantage
    BTA US
    34,981
    434,1140.44
    Blackrock Municipal Bond Trust
    BBK US
    27,413
    432,0290.44
    Mfs High Income Municipal Trust
    CXE US
    80,119
    423,8300.43
    Western Asset Municipal Defined Opportu
    MTT US
    18,463
    422,9870.43
    Western Asset Municipal Partners Fund I
    MNP US
    25,202
    394,4110.40
    Eaton Vance Municipal Bond Fund Ii
    EIV US
    29,101
    366,9640.37
    Blackrock Muniholdings Fund Ii Inc
    MUH US
    20,171
    318,9040.32
    Blackrock Muniyield Investment Fund
    MYF US
    20,185
    312,8680.32
    Other/Cash
    --
    --
    198,0450.20

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

  • 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. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Vectors CEF Municipal Income ETF would have been 4.63% on 09/22/2017. 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).

    2XMPT Fees & Expenses: Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses) from exceeding 0.40% of the Fund's average daily net assets per year until at least September 1, 2018. During such time, the expense limitation is expected to continue until the Fund's Board of Trustees acts to discontinue all or a portion of such expense limitation. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio".

    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. 

    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.

    The Fund's performance, because it is a fund of funds, is dependent on the performance of the Underlying Funds. The Fund is subject to the risks of the Underlying Funds' investments, and the Fund's shareholders will indirectly bear the expenses of the Underlying Funds. In addition, at times certain segments of the market represented by the Underlying Funds may be out of favor and underperform other segments. The shares of a closed-end fund may trade at a discount or premium to its net asset value ("NAV"). Additionally, the securities of closed-end investment companies in which the Fund will invest may be leveraged. As a result, the Fund may be indirectly exposed to leverage through an investment in such securities. An investment in securities of closed-end investment companies that use leverage may expose the Fund to higher volatility in the market value of such securities and the possibility that the Fund's long-term returns on such securities (and, indirectly, the long-term returns of the Shares) will be diminished. Investment in the underlying funds may be subject to municipal securities risk, high-yield securities risk, fixed-income securities risk, tax risk, liquidity risk, leverage risk and anti-takeover measures risk. A portion of the dividends you receive may be subject to the federal alternative minimum tax (AMT). There is no guarantee that Fund's income will be exempt from federal, state or local income taxes, and changes in those tax rates or in alternative minimum tax or in the tax treatment of municipal bonds may make them less attractive as investments and cause them to lose value.

    S-Network Municipal Bond Closed-End Fund IndexSM is calculated and maintained by S-Network Global Indexes, Inc. S-Network does not sponsor, endorse, or promote the Fund and bears no liability with respect to the Fund or any security. 

    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.

    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. Performance information for the Fund reflects temporary waivers of expenses and/or fees. Had the Fund incurred all expenses, investment returns would have been reduced. 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.