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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.

Fund Ticker
XMPT
Exchange
Cboe
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 06/14/19

30-Day SEC Yield¹
4.24%
Total Net Assets
$149.9M
Number of Holdings
64
Options
Expected
Gross Expense Ratio²
1.66%
Net Expense Ratio/TER²
1.56%
Distribution Frequency
Monthly
Next Distribution Date
06/28/2019

Morningstar™ Ratings³
as of 05/31/19

Category	Overall	3 Year	5 Year
Muni National Long	5 stars of 147 funds	4 stars of 147 funds	5 stars of 132 funds

Key Points

Potential High Level of Tax-Exempt Income
A portfolio of municipal CEFs that may produce yields higher than most other fixed income investments

Diversification by Asset, Strategy and Manager
Reduced single fund risk with a portfolio of CEFs managed by leading active fixed income managers

The Discount Advantage
Index assigns a greater weight to CEFs trading at discounts, potentially enhancing yield and the opportunity for capital appreciation

Yields
as of 06/14/19

30-Day SEC Yield¹
4.24%
Distribution Yield¹
4.15%
12-Month Yield¹
4.26%
Taxable Equivalent 30-Day SEC Yields^1a
12% Federal Tax Rate
4.82%
22% Federal Tax Rate
5.44%
24% Federal Tax Rate
5.58%
32% Federal Tax Rate
6.24%
35% Federal Tax Rate
6.53%
37% Federal Tax Rate
6.74%

^1/1a See Important Disclosure for definitions.

Fees & Expenses²

Management Fee
0.40%
Other Expenses
0.10%
Acquired Fund Fees and Expenses
1.16%
Gross Expense Ratio
1.66%
Fee Waivers and
Expense Reimbursement
-0.10%
Net Expense Ratio/TER²
1.56%

²Expenses for XMPT are capped contractually at 0.40% until September 1, 2019. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Premium/Discount: CEFs Held by XMPT Download

3 Months |

6 Months |

1 Year |

3 Years |

5 Years |

Since Inception
07/12/2011

This chart does not represent XMPT's premium/discount. It represents the weighted average premium/discount of the underlying closed-end funds (CEFs) held by XMPT. There are many factors that influence the up-down movement of a closed-end fund's share price, such as the fund's yield, performance, and investor demand.

Trading Information

Fund Ticker
XMPT
Index Total Return Ticker
CEFMXTR
NAV
XMPTNV
Intraday NAV (IIV)⁵
XMPTIV
Shares Outstanding
5,600,000
Estimated Cash
XMPTEU
Total Cash
XMPTTC
CUSIP
92189F460
ISIN
US92189F4607

⁵See IIV Details. Source: Bloomberg

Prices as of 06/14/19

	NAV/ Last Price	Volume 30-Day Avg./ Last Trading Day	Daily Change NAV/ Last Price	YTD Change NAV/ Last Price	Premium/ Discount	Prem/Discount Distribution Charts	NAV & Prem/Discount History	NAV Chart
XMPT	$26.77 $26.79	43,522 9,878	$0.01 / +0.05% $0.00 / +0.00%	+14.38% +14.52%	$0.02 0.07%

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

Month End as of 05/31/19
Quarter End as of 03/31/19

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 07/12/11
XMPT (NAV)	1.89	5.11	13.31	9.65	2.62	5.57	--	6.16
XMPT (Share Price)	1.93	5.43	13.53	9.94	2.75	5.57	--	6.17
CEFMXTR (Index)	1.96	5.24	13.02	10.08	2.89	5.92	--	6.53
Performance Differential (NAV - Index)	-0.07	-0.13	0.29	-0.43	-0.27	-0.35	--	-0.37

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 07/12/11
XMPT (NAV)	2.41	10.40	10.40	8.88	2.59	6.17	--	5.94
XMPT (Share Price)	2.61	10.49	10.49	9.05	2.56	6.14	--	5.94
CEFMXTR (Index)	2.44	10.02	10.02	9.31	2.87	6.51	--	6.31
Performance Differential (NAV - Index)	-0.03	0.38	0.38	-0.43	-0.28	-0.34	--	-0.37

*Returns less than one year are not annualized.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

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.

Top 10 Holdings (%) as of 05/31/19 Daily Holdings

Total Holdings: 60

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full data

	Holding Name	Ticker	Shares	Market Value (US$)	% of Net Assets
	Nuveen Amt-Free Municipal Credit Income	NVG US	765,633	12,035,751	8.23
	Nuveen Quality Municipal Income Fund	NAD US	845,530	11,600,672	7.93
	Nuveen Amt-Free Quality Municipal Incom	NEA US	856,460	11,579,339	7.92
	Nuveen Municipal Credit Income Fund	NZF US	570,263	8,878,995	6.07
	Nuveen Municipal Value Fund Inc	NUV US	671,204	6,759,024	4.62
	Blackrock Municipal 2030 Target Term Tr	BTT US	295,752	6,757,933	4.62
	Eaton Vance Municipal Bond Fund	EIM US	367,931	4,617,534	3.16
	Blackrock Muniyield Quality Fund Iii In	MYI US	310,687	4,085,534	2.79
	Invesco Municipal Opportunity Trust	VMO US	280,008	3,393,697	2.32
	Nuveen Municipal High Income Opportunit	NMZ US	201,789	2,806,885	1.92
Top 10 Total (%)					49.58

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

Currency Exposure (%)

as of 05/31/19

U.S. Dollar
96.12
Other/Cash
3.88

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