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YMLI
VanEck Vectors High Income Infrastructure MLP ETF

  • Fund Description

    VanEck Vectors® High Income Infrastructure MLP ETF (YMLI®) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Solactive High Income Infrastructure MLP Index (YMLITR).

  •  
      

    • Fund Ticker

      YMLI
    • Exchange

      NYSE Arca
    • Commencement

      02/11/2013
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      YMLITR
    • Index Rebalancing

      Annual
  •  
    as of 06/28/17

    • Total Net Assets

      $32.5M
    • Number of Holdings

      26
    • Options

      Expected
    • Management Fee2

      0.82%
    • Net Expense Ratio/TER2

      0.82%
    • Distribution Frequency

      Quarterly
    • Next Distribution Date

      08/11/17
  • Morningstar™ Ratings3
    as of 5/31/17

    Category Overall 3 Year 5 Year
    Energy Limited Partnership
       
    3 stars of 76 funds
       
    3 stars of 76 funds
    --
  • Key Points

    High Income Potential
    Underlying index targets high income MLPs with attractive yield and distribution characteristics
    Potential for Tax-Deferred Distributions 
    Fund is taxed as a corporation, allowing for potentially tax-deferred distributions, but may underperform its index during appreciating MLP markets
    Simplified Tax Reporting

    Fund shareholders receive Form 1099 instead of the complicated K-1s associated with direct MLP investments

  • Yield
    as of 05/31/17

    • 30-Day SEC Yield1

      -0.81%
    • Distribution Yield1

      4.84%
    • 12-Month Yield1

      6.94%
     1 See Important Disclosure for definitions.
    The 30-Day SEC Yield has been adjusted to reflect estimates for return of capital that would result in a reduction of income to the 30-Day SEC Yield calculation which may cause the yield to be negative.
  • Fees & Expenses2

    • Management Fee

      0.82%
    • Other Expenses

      --
    • Deferred Income Tax and Franchise Tax Expenses

      --
    • Net Expense Ratio

      0.82%
    2Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes (including accrued deferred tax liability) and extraordinary expenses. The Fund’s accrued deferred tax liability, if any, is reflected each day in the Fund’s net asset value per share and may vary greatly from year to year depending on the nature of the Fund’s investments, the performance of those investments and general market conditions. Therefore, any estimate of deferred income tax expense/(benefit) cannot be reliably predicted from year to year. State franchise taxes are separate and distinct from state income taxes. Due to the nature of the Fund’s investments, the Fund may be required to file franchise tax returns in several states. The Fund is expected to absorb net operating losses and accrue net deferred tax expense primarily related to unrealized depreciation on investments and state franchise tax liability.
  • Tax Accrual as of 06/28/2017

    TAX ASSET
    Current Tax Asset $81,087.11
    Deferred Tax Asset $3,179,760.11
    Net Tax Asset $3,179,760.11
    TAX LIABILITY
    Current Tax Liability $0.00
    Deferred Tax Liability $0.00
    Net Tax Liability $0.00
    NET DEFERRED TAX ASSET/(LIABILITY)
    Net Deferred Tax Asset/(Liability) $3,179,760.11
    Valuation Allowance $-3,179,760.11
    Adjusted Net Deferred Tax Asset/(Liability) $0.00
    TAX RATE
    Effective Tax Rate 36.10%
  • Trading Information

    • Fund Ticker

      YMLI
    • Index Total Return Ticker

      YMLITR
    • NAV

      YMLINV
    • Intraday NAV (IIV)4

      YMLIIV
    • Shares Outstanding

      2,250,000
    • Estimated Cash

      YMLIEU
    • Total Cash

      YMLITC
    • CUSIP

      92189F569
    • ISIN

      US92189F5695
    4See IIV Details. Source: Bloomberg
  •  

  • Prices as of 06/28/17

    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
    YMLI $14.44
    $14.46
    15,814
    3,912
    $0.22 / +1.58%
    $0.29 / +2.05%
    -5.3%
    -5.1%
    $0.02
    0.16%
  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    02/12/13
    YMLI (NAV)-5.56-7.08-3.5012.95-5.60----0.10
    YMLI (Share Price)-5.87-7.74-3.7612.65-5.71----0.02
    YMLITR (Index)-5.86-7.40-4.1413.02-6.59----1.76
    Performance Differential (NAV - Index)0.300.320.64-0.070.99-----1.66
    Quarter End as of 03/31/17
    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    02/12/13
    YMLI (NAV)-0.503.343.3448.21-2.04----1.77
    YMLI (Share Price)-0.563.733.7349.06-1.91----1.85
    YMLITR (Index)-0.373.143.1449.84-2.20----3.66
    Performance Differential (NAV - Index)-0.130.200.20-1.630.16-----1.89
  • Daily HoldingsTop 10 Holdings (%)as of 05/31/17

    Total Holdings: 26
    Holding Name
    Ticker
    SharesMarket Value
    (US$)
    % of Net
    Assets
    Spectra Energy Partners Lp
    SEP US
    34,846
    1,503,2564.25
    Summit Midstream Partners Lp
    SMLP US
    64,895
    1,499,0754.23
    Williams Partners Lp
    WPZ US
    37,318
    1,461,7464.13
    Tesoro Logistics Lp
    TLLP US
    27,454
    1,454,5134.11
    Martin Midstream Partners Lp
    MMLP US
    79,644
    1,449,5214.09
    Valero Energy Partners Lp
    VLP US
    31,953
    1,444,5954.08
    Cone Midstream Partners Lp
    CNNX US
    67,544
    1,433,9594.05
    Holly Energy Partners Lp
    HEP US
    43,358
    1,420,4084.01
    Tallgrass Energy Partners Lp
    TEP US
    28,559
    1,416,5264.00
    Buckeye Partners Lp
    BPL US
    22,116
    1,415,4244.00
    Top 10 Total (%)40.95
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Sector Weightings (%) as of 05/31/17

    • Sector

      % of Net Assets
    • Energy

      98.5
    • Other/Cash

      1.5
  • Currency Exposure (%)
    as of 05/31/17

    • U.S. Dollar

      98.51
    • Other/Cash

      1.49
  • Country Weightings (%) as of 05/31/17

    • Country

      % of Net Assets
    • UNITED STATES

      94.26
    • CANADA

      4.25
    • Other/Cash

      1.49
  • 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.

    The VanEck Vectors High Income Infrastructure MLP ETF (the “Fund”) is the successors to the Yorkville High Income Infrastructure MLP ETF pursuant to a reorganization that took place on February 22, 2016. Prior to that date, the Fund had no investment operations. Accordingly, for periods prior to that date, any Fund performance information is that of the Yorkville High Income Infrastructure MLP ETF.

    130-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for a fairer comparison among funds. It is based on the most recent 30-day period. This yield figure reflects the income earned during the period after deducting the Fund’s expenses for the period. Distributions may vary from time to time. The yield has been adjusted to reflect estimates for return of capital that would result in a reduction of income to the 30-Day SEC Yield calculation which may cause the yield to be negative. The distribution yield is calculated by annualizing the most recent Fund distribution and dividing by the Fund NAV from the as-of date. The 12-month yield is calculated by summing Fund distributions over the past 12 months and dividing by the Fund NAV from the as-of date. Yield information may reflect temporary waivers of expenses and/or fees. Yields may have been reduced had waived fees/expenses been included.

    2YMLI Fees & Expenses: Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes (including accrued deferred tax liability) and extraordinary expenses. The Fund is classified for federal income tax purposes as a taxable regular corporation or Subchapter “C” corporation. As a “C” corporation, the Fund accrues deferred income tax liability for its future tax liability associated with the capital appreciation of its investments, with certain distributions received by the Fund on equity securities of Master Limited Partnerships (“MLPs”) considered to be return of capital, and with any net operating gains. The Fund’s accrued deferred tax liability, if any, is reflected each day in the Fund’s net asset value per share and may vary greatly from year to year depending on the nature of the Fund’s investments, the performance of those investments and general market conditions. Therefore, any estimate of deferred income tax expense/(benefit) cannot be reliably predicted from year to year. State franchise taxes are separate and distinct from state income taxes. Due to the nature of the Fund’s investments, the Fund may be required to file franchise tax returns in several states. The Fund is expected to absorb net operating losses and accrue net deferred tax expense primarily related to unrealized depreciation on investments and state franchise tax liability. 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.

    4IIV 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.

    An investment in the Fund may be subject to risks which include, among others, risks specific to MLPs such as tax, energy sector, industry specific, liquidity, potential substantial after-tax tracking error from index performance, risk of cash transactions, index tracking, issuer-specific changes, market, operational, non-diversified, trading, premium/discount risk, replication management, no guarantee of active trading market, authorized participant concentration, and concentration risks, all of which may adversely affect the Fund. MLP investments can be affected by macro-economic and other factors affecting the stock market in general, expectations of interest rates, and factors affecting the energy sector and infrastructure MLP industry. The complex tax nature of MLPs may adversely affect the Fund. The Fund may defer income taxes for many years on gains attributable to its underlying MLP holdings and the deferred tax liability used to calculate the Fund’s NAV could vary dramatically from the Fund’s actual tax liability. Upon sale of an MLP security, the Fund may be liable for previously deferred taxes and, as a result, the determination of the Fund’s actual tax liability may substantially increase expenses and lower the Fund’s NAV.

    The Fund is treated as a regular corporation for federal income tax, which differs from most investment companies. Unlike traditional ETFs, the Fund is subject to U.S. federal income tax as well as state and local income taxes. Further, the amount of taxes currently paid by the Fund will vary depending on the amount of income, and gains derived from investments and/or sales of MLP interests and such taxes will reduce your return. A portion of the Fund’s distributions is expected to be treated as a return of capital for tax purposes. To the extent distributions represent a return of capital; an investor’s cost basis will be reduced at the time of sale potentially increasing taxes owed.

    Solactive Indexes have been licensed by Solactive AG for use by Van Eck Associates Corporation. VanEck Vectors ETFs are not sponsored, endorsed, issued, sold, or promoted by Solactive AG nor does this company make any representations regarding the advisability of investing in VanEck Vectors ETFs.

    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 “Net Asset Value” (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.

    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.