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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

    • Exchange

      NYSE Arca
    • Commencement

    • ETF Structure

    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

    • Index Rebalancing

    as of 02/21/18

    • Total Net Assets

    • Number of Holdings

    • Options

    • Management Fee2

    • Net Expense Ratio/TER2

    • Distribution Frequency

    • Next Distribution Date

  • Morningstar™ Ratings3
    as of 01/31/18

    Category Overall 3 Year 5 Year
    Energy Limited Partnership
    3 stars of 90 funds
    3 stars of 90 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 12/31/17

    • 30-Day SEC Yield1

    • Distribution Yield1

    • 12-Month Yield1

     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

    • Other Expenses

    • Deferred Income Tax and Franchise Tax Expenses

    • Net Expense Ratio

  • Tax Accrual as of 02/21/2018

    Current Tax Asset --
    Deferred Tax Asset $2,515,746.92
    Net Tax Asset $2,515,746.92
    Current Tax Liability $-101,724.08
    Deferred Tax Liability $0.00
    Net Tax Liability $0.00
    Net Deferred Tax Asset/(Liability) $2,515,746.92
    Valuation Allowance $-2,515,746.92
    Adjusted Net Deferred Tax Asset/(Liability) $0.00
    Effective Tax Rate 23.84%
  • Trading Information

    • Fund Ticker

    • Index Total Return Ticker

    • NAV

    • Intraday NAV (IIV)4

    • Shares Outstanding

    • Estimated Cash

    • Total Cash

    • CUSIP

    • ISIN

    4See IIV Details. Source: Bloomberg

  • Prices as of 02/21/18

    Last Price
    30-Day Avg./
    Last Trading Day
    Daily Change
    Last Price
    YTD Change
    Last Price
    Distribution Charts
    NAV &
    YMLI $12.82
    -$0.23 / -1.78%
    $-0.25 / -1.92%
  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    YMLI (NAV)6.247.536.24-4.71-4.71----0.24
    YMLI (Share Price)
    YMLITR (Index)
    Performance Differential (NAV - Index)-0.020.25-0.021.411.08-----1.27
    Quarter End as of 12/31/17
    YMLI (NAV)3.78-2.73-8.49-8.49-7.02-----1.00
    YMLI (Share Price)3.31-3.43-8.63-8.63-7.13-----1.04
    YMLITR (Index)3.96-3.15-9.86-9.86-8.25----0.28
    Performance Differential (NAV - Index)-0.180.421.371.371.23-----1.28
  • Daily HoldingsTop 10 Holdings (%)as of 01/31/18

    Total Holdings: 26
    Holding Name
    SharesMarket Value
    % of Net
    Crestwood Equity Partners Lp
    Dcp Midstream Lp
    DCP US
    Williams Partners Lp
    WPZ US
    Spectra Energy Partners Lp
    SEP US
    Energy Transfer Equity Lp
    ETE US
    Phillips 66 Partners Lp
    Summit Midstream Partners Lp
    Dominion Energy Midstream Partners Lp
    DM US
    Valero Energy Partners Lp
    VLP US
    Eqt Midstream Partners Lp
    EQM US
    Top 10 Total (%)43.52
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Sector Weightings (%) as of 01/31/18

    • Sector

      % of Net Assets
    • Energy

    • Other/Cash

  • Currency Exposure (%)
    as of 01/31/18

    • U.S. Dollar

    • Other/Cash

  • Country Weightings (%) as of 01/31/18

    • Country

      % of Net Assets

    • CANADA

    • Other/Cash

  • 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.

    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 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 “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 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.