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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 08/22/17

    • 30-Day SEC Yield1

      4.79%
    • Total Net Assets

      $95.7M
    • Number of Holdings

      71
    • Options

      Expected
    • Gross Expense Ratio2

      1.70%
    • Net Expense Ratio/TER2

      1.56%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      08/31/2017
  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    07/12/11
    XMPT (NAV)2.334.519.42-1.908.154.21--7.14
    XMPT (Share Price)2.334.359.50-2.068.194.16--7.14
    CEFMXTR (Index)2.364.579.06-1.798.504.58--7.52
    Performance Differential (NAV - Index)-0.03-0.060.36-0.11-0.35-0.37---0.38
    After Tax Held2.334.519.42-1.908.154.21--7.13
    After Tax Sold1.493.076.650.977.544.41--6.82
    Quarter End as of 06/30/17
    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    07/12/11
    XMPT (NAV)0.213.906.92-3.776.784.42--6.83
    XMPT (Share Price)0.253.867.01-4.106.754.36--6.83
    CEFMXTR (Index)0.233.956.55-3.637.134.79--7.21
    Performance Differential (NAV - Index)-0.02-0.050.37-0.14-0.35-0.37---0.38
    After Tax Held0.213.906.92-3.786.784.42--6.82
    After Tax Sold0.292.755.05-0.086.484.60--6.58
  • Performance History:Cumulative Total Return (%) as of 12/31/16

    1 YR3 YR5 YR10 YRLIFE
    07/12/11
    XMPT (NAV)1.5329.8326.17--38.75
    XMPT (Share Price)0.9629.5525.81--38.60
    CEFMXTR (Index)1.7831.0328.41--42.24
    Performance Differential (NAV - Index)-0.25-1.20-2.24---3.49
  • 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
    08/01/2017 08/03/2017 08/07/2017 $0.1073 -- -- -- $0.1073
    07/03/2017 07/06/2017 07/10/2017 $0.1064 -- -- -- $0.1064
    06/01/2017 06/05/2017 06/07/2017 $0.1076 -- -- -- $0.1076
    05/01/2017 05/03/2017 05/05/2017 $0.1050 -- -- -- $0.1050
    04/03/2017 04/05/2017 04/07/2017 $0.1150 -- -- -- $0.1150
    03/01/2017 03/03/2017 03/07/2017 $0.1030 -- -- -- $0.1030
    02/01/2017 02/03/2017 02/07/2017 $0.1100 -- -- -- $0.1100
    12/28/2016 12/30/2016 01/04/2017 $0.1260 -- -- -- $0.1260
    12/01/2016 12/05/2016 12/07/2016 $0.1186 -- -- -- $0.1186
    11/01/2016 11/03/2016 11/07/2016 $0.1216 -- -- -- $0.1216
    10/03/2016 10/05/2016 10/07/2016 $0.1205 -- -- -- $0.1205
    09/01/2016 09/06/2016 09/08/2016 $0.1086 -- -- -- $0.1086
    08/01/2016 08/03/2016 08/05/2016 $0.1150 -- -- -- $0.1150
    07/01/2016 07/06/2016 07/08/2016 $0.1125 -- -- -- $0.1125
    06/01/2016 06/03/2016 06/07/2016 $0.1165 -- -- -- $0.1165
    05/02/2016 05/04/2016 05/06/2016 $0.1183 -- -- -- $0.1183
    04/01/2016 04/05/2016 04/07/2016 $0.1015 -- -- -- $0.1015
    03/01/2016 03/03/2016 03/07/2016 $0.1180 -- -- -- $0.1180
    02/01/2016 02/03/2016 02/05/2016 $0.1047 -- -- -- $0.1047
    12/29/2015 12/31/2015 01/05/2016 $0.1298 -- -- -- $0.1298
    12/01/2015 12/03/2015 12/07/2015 $0.1126 -- -- -- $0.1126
    11/02/2015 11/04/2015 11/06/2015 $0.1174 -- -- -- $0.1174
    10/01/2015 10/05/2015 10/07/2015 $0.1179 -- -- -- $0.1179
    09/01/2015 09/03/2015 09/08/2015 $0.1180 -- -- -- $0.1180
    08/03/2015 08/05/2015 08/07/2015 $0.1180 -- -- -- $0.1180
    07/01/2015 07/06/2015 07/08/2015 $0.1180 -- -- -- $0.1180
    06/01/2015 06/03/2015 06/05/2015 $0.1190 -- -- -- $0.1190
    05/01/2015 05/05/2015 05/07/2015 $0.1120 -- -- -- $0.1120
    04/01/2015 04/06/2015 04/08/2015 $0.1180 -- -- -- $0.1180
    03/02/2015 03/04/2015 03/06/2015 $0.1120 -- -- -- $0.1120
    02/02/2015 02/04/2015 02/06/2015 $0.1154 -- -- -- $0.1154
    12/29/2014 12/31/2014 01/05/2015 $0.1230 -- -- -- $0.1230
    12/01/2014 12/03/2014 12/05/2014 $0.1200 -- -- -- $0.1200
    11/03/2014 11/05/2014 11/07/2014 $0.1150 -- -- -- $0.1150
    10/01/2014 10/03/2014 10/07/2014 $0.1200 -- -- -- $0.1200
    09/02/2014 09/04/2014 09/08/2014 $0.1200 -- -- -- $0.1200
    08/01/2014 08/05/2014 08/07/2014 $0.1200 -- -- -- $0.1200
    07/01/2014 07/03/2014 07/08/2014 $0.1210 -- -- -- $0.1210
    06/02/2014 06/04/2014 06/06/2014 $0.1130 -- -- -- $0.1130
    05/01/2014 05/05/2014 05/07/2014 $0.1211 -- -- -- $0.1211
    04/01/2014 04/03/2014 04/07/2014 $0.1211 -- -- -- $0.1211
    03/03/2014 03/05/2014 03/07/2014 $0.1211 -- -- -- $0.1211
    02/03/2014 02/05/2014 02/07/2014 $0.1211 -- -- -- $0.1211
    12/27/2013 12/31/2013 01/03/2014 $0.1420 -- -- -- $0.1420
    12/02/2013 12/04/2013 12/06/2013 $0.1210 -- -- -- $0.1210
    11/01/2013 11/05/2013 11/07/2013 $0.1210 -- -- -- $0.1210
    10/01/2013 10/03/2013 10/07/2013 $0.1210 -- -- -- $0.1210
    09/03/2013 09/05/2013 09/09/2013 $0.1190 -- -- -- $0.1190
    08/01/2013 08/05/2013 08/07/2013 $0.1170 -- -- -- $0.1170
    07/01/2013 07/03/2013 07/08/2013 $0.1170 -- -- -- $0.1170
    06/03/2013 06/05/2013 06/07/2013 $0.1220 -- -- -- $0.1220
    05/01/2013 05/03/2013 05/07/2013 $0.1260 -- -- -- $0.1260
    04/01/2013 04/03/2013 04/05/2013 $0.1295 -- -- -- $0.1295
    03/01/2013 03/05/2013 03/07/2013 $0.1250 -- -- -- $0.1250
    02/01/2013 02/05/2013 02/07/2013 $0.0830 -- -- -- $0.0830
    12/27/2012 12/31/2012 01/03/2013 $0.1440 -- $0.0065 -- $0.1505
    12/03/2012 12/05/2012 12/07/2012 $0.1290 -- -- -- $0.1290
    11/01/2012 11/05/2012 11/07/2012 $0.1208 -- -- -- $0.1208
    10/01/2012 10/03/2012 10/05/2012 $0.1280 -- -- -- $0.1280
    09/04/2012 09/06/2012 09/10/2012 $0.1280 -- -- -- $0.1280
    08/01/2012 08/03/2012 08/07/2012 $0.1160 -- -- -- $0.1160
    07/02/2012 07/05/2012 07/09/2012 $0.1291 -- -- -- $0.1291
    06/01/2012 06/05/2012 06/07/2012 $0.1291 -- -- -- $0.1291
    05/01/2012 05/03/2012 05/07/2012 $0.1150 -- -- -- $0.1150
    04/02/2012 04/04/2012 04/09/2012 $0.1500 -- -- -- $0.1500
    03/01/2012 03/05/2012 03/07/2012 $0.1161 -- -- -- $0.1161
    02/01/2012 02/03/2012 02/07/2012 $0.1390 -- -- -- $0.1390
    12/28/2011 12/30/2011 01/04/2012 $0.1300 $0.0175 -- -- $0.1475
    12/01/2011 12/05/2011 12/07/2011 $0.1355 -- -- -- $0.1355
    11/01/2011 11/03/2011 11/07/2011 $0.1350 -- -- -- $0.1350
    10/03/2011 10/05/2011 10/07/2011 $0.1380 -- -- -- $0.1380
    09/01/2011 09/06/2011 09/08/2011 $0.1800 -- -- -- $0.1800
    *All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck Vectors 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 Vectors 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.Click here to access more detailed yearend tax information.
  • Calendar Year Returns (%) as of 12/31/2016

  • NAV History
    as of 07/31/17

  • Best & Worst
    Quarter Returns (%)
    as of 06/30/17

    • Best quarter

      1Q'14+8.29%
    • Worst quarter

      4Q'16-9.05%
    Best & Worst Quarter Returns are based on NAV, reflect the period since the Fund's inception, and are updated quarterly.
  • 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 4.69% on 08/22/2017. 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 : "Acquired Fund Fees and Expenses" reflect the Fund's pro rata portion of the expenses charged by the Underlying Funds (as defined herein). These expenses are based on the total expense ratio disclosed in each Underlying Fund's most recent shareholder report. Because Acquired Fund Fees and Expenses are not borne directly by the Fund, they will not be reflected in the expense information in the Fund's financial statements and the information presented in the table will differ from that presented in the Fund's financial highlights, when available. 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 interest expense, offering costs, trading expenses, taxes, extraordinary expenses and Acquired Fund Fees and Expenses) from exceeding 0.40% of the Fund's average daily net assets per year until at least September 1, 2017. 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.