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  • Ticker:- XMPT;true;CEFMXTR;
  • Ticker Group:- ETFFI_MI;false;;

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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

      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 07/19/18

    • 30-Day SEC Yield1

      4.65%

    • Total Net Assets

      $111.4M

    • Number of Holdings

      70

    • Options

      Expected

    • Gross Expense Ratio2

      1.70%

    • Net Expense Ratio/TER2

      1.59%

    • Distribution Frequency

      Monthly

    • Next Distribution Date

      07/31/2018

  • Morningstar™ Ratings3
    as of 06/30/18

    Category Overall 3 Year 5 Year
    Muni National Long
         
    5 stars of 146 funds
         
    5 stars of 146 funds
         
    5 stars of 127 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 07/19/18

    • 30-Day SEC Yield1

      4.65%

    • Distribution Yield1

      4.57%

    • 12-Month Yield1

      4.96%

    • Taxable Equivalent 30-Day SEC Yields1a

      --

    • 12% Federal Tax Rate

      5.29%

    • 22% Federal Tax Rate

      5.97%

    • 24% Federal Tax Rate

      6.12%

    • 32% Federal Tax Rate

      6.84%

    • 35% Federal Tax Rate

      7.16%

    • 37% Federal Tax Rate

      7.39%
     1/1a See Important Disclosure for definitions.

  • Fees & Expenses2

    • Management Fee

      0.40%

    • Other Expenses

      0.11%

    • Acquired Fund Fees and Expenses

      1.19%

    • Gross Expense Ratio

      1.70%

    • Fee Waivers and
      Expense Reimbursement

      -0.11%

    • Net Expense Ratio/TER2

      1.59%
    2Expenses for XMPT are capped contractually at 0.40% until September 1, 2018. Cap excludes acquired fund fees and expenses, interest, trading, taxes and extraordinary expenses.

  • Trading Information

    • Fund Ticker

      XMPT

    • Index Total Return Ticker

      CEFMXTR

    • NAV

      XMPTNV

    • Intraday NAV (IIV)5

      XMPTIV

    • Shares Outstanding

      4,400,000

    • Estimated Cash

      XMPTEU

    • Total Cash

      XMPTTC

    • CUSIP

      92189F460

    • ISIN

      US92189F4607
    5See IIV Details. Source: Bloomberg

  • Prices as of 07/19/18

    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 $25.31
    $25.32     		23,616
    17,037     		$0.03 / +0.10%
    $0.01 / +0.04%     		-2.31%
    -2.21%
    		 $0.00
    0.01%

  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    07/12/11
    XMPT (NAV)-0.191.71-2.96-1.705.245.23--5.56
    XMPT (Share Price)0.162.07-2.66-1.465.315.21--5.59
    CEFMXTR (Index)-0.201.81-3.22-1.475.525.58--5.92
    Performance Differential (NAV - Index)0.01-0.100.26-0.23-0.28-0.35---0.36
    After Tax Held-0.191.71-2.96-1.715.235.22--5.55
    After Tax Sold0.051.51-0.780.945.295.31--5.59
    Quarter End as of 06/30/18
    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    07/12/11
    XMPT (NAV)-0.191.71-2.96-1.705.245.23--5.56
    XMPT (Share Price)0.162.07-2.66-1.465.315.21--5.59
    CEFMXTR (Index)-0.201.81-3.22-1.475.525.58--5.92
    Performance Differential (NAV - Index)0.01-0.100.26-0.23-0.28-0.35---0.36
    After Tax Held-0.191.71-2.96-1.715.235.22--5.55
    After Tax Sold0.051.51-0.780.945.295.31--5.59

    *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.

    The "After Tax Held" represents total return after taxes on distributions and assumes shares have not been sold. "After Tax Sold" represents total return after taxes on distributions and the sale of Fund shares. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. After-tax returns are based on NAV.

  • Daily HoldingsTop 10 Holdings (%) as of 06/30/18

    Total Holdings: 70
    Holding Name
    Ticker
    		SharesMarket Value
    (US$)    		% of Net
    Assets
    Nuveen Quality Municipal Income Fund
    NAD US
    675,128
    		8,979,2028.09
    Nuveen Amt-Free Municipal Credit Income
    NVG US
    608,961
    		8,884,7418.00
    Nuveen Amt-Free Quality Municipal Incom
    NEA US
    681,331
    		8,864,1167.99
    Nuveen Municipal Credit Income Fund
    NZF US
    444,398
    		6,368,2235.74
    Blackrock Municipal 2030 Target Term Tr
    BTT US
    240,858
    		5,192,8984.68
    Nuveen Municipal Value Fund Inc
    NUV US
    513,627
    		4,910,2744.42
    Eaton Vance Municipal Bond Fund
    EIM US
    236,213
    		2,789,6762.51
    Invesco Municipal Opportunity Trust
    VMO US
    234,896
    		2,757,6792.48
    Blackrock Muniyield Quality Fund Iii In
    MYI US
    215,684
    		2,717,6182.45
    Invesco Municipal Trust
    VKQ US
    193,340
    		2,285,2792.06
    Top 10 Total (%)48.42

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

  • Currency Exposure (%)
    as of 06/30/18

    • U.S. Dollar

      98.91

    • Other/Cash

      1.09
Web Access Notice: VanEck is committed to ensuring accessibility of its website for investors and potential investors, including those with disabilities. If you have difficulty accessing any feature or functionality on the VanEck website, please feel free to call us at 800.826.2333 or email us at info@vaneck.com for assistance.
 

  • 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 4.56% on 07/19/2018. 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.

    The S&P 500 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 © 2018 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. 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.

     

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800.826.2333

 



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