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SMB VanEck Short Muni ETF Please read important disclosure Close important disclosure Show More Show Less Compare false

SMB
VanEck Short Muni ETF

SMB
VanEck Short Muni ETF

  • NAV
    $17.09

    as of September 14, 2026
  • YTD RETURNS
    0.48%

    as of September 14, 2026
  • Total Net Assets
    $315.25M

    as of September 14, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.98%
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Overview

Why SMB

  • Federally Tax-Exempt IncomeProvides income generally exempt from federal taxes
  • Intermediate Duration FocusDesigned to track an index of short-duration municipal bonds to help mange interest rate risk
  • Investment-Grade QualityEmphasizes investment-grade municipal bonds with high overall credit quality

The VanEck Short Muni ETF (SMB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Short AMT-Free Broad National Municipal Index (MBNS), which is intended to track the overall performance of the U.S. dollar denominated short-term tax-exempt bond market.

Yields  as of  09/14/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.98%

Distribution Yield

2.90%

12 Month Yield

2.82%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Short Muni ETF would have been 2.98% on 09/14/26. Distributions may vary from time to time.

Performance

Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 02/22/08
SMB (NAV) 0.41 0.28 1.11 2.02 3.29 1.17 1.47 1.99
SMB (Market Price) 0.17 0.23 0.55 1.92 3.38 1.12 1.43 1.99
ICE Short AMT-Free Broad National Municipal Index 0.40 0.30 1.12 2.02 3.27 1.17 1.64 2.37
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 02/22/08
SMB (NAV) 0.33 0.92 1.16 3.29 3.33 1.25 1.49 2.02
SMB (Market Price) 0.47 0.99 0.78 3.26 3.50 1.21 1.49 2.02
ICE Short AMT-Free Broad National Municipal Index 0.34 0.91 1.17 3.27 3.30 1.27 1.67 2.39

*Returns less than one year are not annualized.

Index data prior to March 1, 2022 reflects that of the Bloomberg AMT-Free Short Continuous Municipal Index (LMT1TR). From March 1, 2022 to November 30, 2022, the index data reflects that of the ICE Short AMT-Free Broad National Municipal Transition Index (MSBT). From December 1, 2022 forward the index data reflects that of the Fund's underlying index the ICE Short AMT Free Broad National Municipal Index (MBNS) and is not intended for third party use.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

Holdings

Daily Holdings (%) as of 09/11/2026

Download XLS Get holdings
Total Holdings: 331
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.04
 5.000
07/15/2031
3,274,189
Charlotte-Mecklenburg Hospital Authorit
1.02
 5.000
01/15/2049
3,215,613
Indiana Finance Authority
1.02
 5.000
02/01/2032
3,213,727
State Of California
1.01
 5.000
04/01/2030
3,168,356
Southeast Energy Authority A Cooperativ
0.95
 4.000
12/01/2051
2,983,118
Commonwealth Of Massachusetts
0.93
 5.000
05/01/2031
2,928,375
State Of New Jersey
0.89
 2.000
06/01/2030
2,791,133
State Of California
0.85
 5.000
10/01/2031
2,692,943
Kansas Development Finance Authority
0.84
 5.000
11/15/2054
2,642,198
New York City Housing Development Corp
0.81
 3.950
11/01/2064
2,556,463
Commonwealth Of Massachusetts
0.79
 5.000
10/01/2031
2,492,491
California Statewide Communities Develo
0.74
 1.750
09/01/2029
2,340,991
Massachusetts Water Resources Authority
0.69
 5.250
08/01/2030
2,174,047
New Jersey Educational Facilities Autho
0.69
 5.000
07/01/2064
2,161,990
Colorado Health Facilities Authority
0.68
 5.000
11/15/2060
2,155,594
Georgia State Road & Tollway Authority
0.68
 5.000
06/01/2032
2,144,192
County Of King Wa
0.68
 4.000
07/01/2030
2,136,572
State Of Maryland
0.68
 5.000
03/15/2032
2,132,693
Main Street Natural Gas Inc
0.67
 5.000
04/01/2054
2,126,263
State Of Connecticut
0.67
 3.000
01/15/2032
2,114,572
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,107,241
Main Street Natural Gas Inc
0.67
 5.000
05/01/2054
2,099,744
Tennessee Energy Acquisition Corp
0.66
 5.000
05/01/2052
2,093,833
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,070,074
Energy Northwest
0.66
 --
07/01/2027
2,066,743
Texas Water Development Board
0.66
 4.000
10/15/2031
2,065,865
City Of Chicago Il
0.65
 5.000
01/01/2030
2,057,941
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,055,036
City & County Of Honolulu Hi
0.65
 5.000
03/01/2031
2,042,977
Fort Bend Independent School District
0.65
 5.000
08/15/2030
2,038,735
Conroe Independent School District
0.64
 5.000
02/15/2027
2,027,176
State Of Georgia
0.64
 5.000
02/01/2032
2,025,045
State Of California
0.62
 5.000
04/01/2032
1,967,299
Los Angeles Unified School District/Ca
0.58
 5.000
07/01/2030
1,830,094
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,827,926
State Of Connecticut Special Tax Revenu
0.57
 5.000
05/01/2031
1,804,221
State Public School Building Authority
0.57
 5.000
06/01/2032
1,780,598
State Of California
0.53
 5.000
10/01/2031
1,659,476
State Of Maryland
0.52
 5.000
03/15/2031
1,627,676
Connecticut State Health & Educational
0.51
 5.000
07/01/2064
1,608,850
Indiana Finance Authority
0.50
 4.250
11/01/2030
1,583,266
State Of North Carolina
0.50
 5.000
03/01/2030
1,568,422
Wisconsin Health & Educational Faciliti
0.50
 5.000
02/15/2032
1,564,930
New York City Transitional Finance Auth
0.49
 4.000
11/01/2030
1,559,750
Curators Of The University Of Missouri/
0.48
 5.000
11/01/2030
1,519,012
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,505,149
Kern High School District
0.46
 2.000
08/01/2031
1,442,181
Frisco Independent School District
0.44
 4.000
02/15/2032
1,371,911
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,357,553
State Of Ohio
0.43
 5.000
12/15/2031
1,342,193
State Of California
0.42
 5.000
08/01/2027
1,337,786
County Of Allen Oh Hospital Facilities
0.42
 5.000
12/01/2029
1,330,152
City Of Columbus Oh
0.42
 5.000
04/01/2031
1,329,384
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,266,864
Main Street Natural Gas Inc
0.40
 4.000
07/01/2052
1,261,476
Central Plains Energy Project
0.40
 5.000
09/01/2031
1,250,808
Central Florida Expressway Authority
0.39
 4.000
07/01/2031
1,238,622
New York Transportation Development Cor
0.39
 5.000
12/01/2030
1,235,190
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,204,887
Kentucky Public Energy Authority
0.38
 4.000
08/01/2052
1,203,394
State Of North Carolina
0.38
 5.000
06/01/2031
1,183,349
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,167,541
Triborough Bridge & Tunnel Authority
0.35
 5.000
11/15/2031
1,100,483
State Of California
0.35
 5.000
09/01/2030
1,098,604
Detroit City School District
0.35
 5.250
05/01/2032
1,096,450
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,094,167
Commonwealth Of Massachusetts
0.34
 5.000
05/01/2030
1,086,078
Texas State Transportation Commission
0.34
 5.000
04/01/2030
1,085,415
Metropolitan Transportation Authority
0.34
 5.000
11/15/2030
1,085,092
State Of California
0.34
 5.000
10/01/2029
1,082,216
Clark County School District
0.34
 5.000
06/15/2032
1,081,318
Minnesota Public Facilities Authority S
0.34
 5.000
03/01/2031
1,075,860
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,074,846
State Of Washington
0.34
 5.000
06/01/2031
1,074,533
State Of Maryland
0.34
 5.000
03/15/2029
1,074,221
New York City Municipal Water Finance A
0.34
 5.000
06/15/2032
1,069,463
Fairfax County Industrial Development A
0.34
 5.000
05/15/2057
1,068,647
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,066,526
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,063,541
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,063,457
State Of North Carolina
0.34
 5.000
05/01/2031
1,062,998
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,062,277
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,061,505
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,061,314
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,059,930
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,058,554
County Of Allen Oh Hospital Facilities
0.34
 5.000
08/01/2030
1,058,308
Denton Independent School District
0.34
 5.000
08/15/2029
1,057,929
Board Of Regents Of The University Of T
0.34
 5.000
08/15/2029
1,057,642
North Carolina Medical Care Commission
0.34
 5.000
06/01/2055
1,057,447
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,056,595
City Of New York Ny
0.33
 5.000
08/01/2029
1,054,818
Minneapolis-St Paul Metropolitan Airpor
0.33
 5.000
01/01/2029
1,054,122
State Of Louisiana
0.33
 5.000
02/01/2029
1,053,595
Texas Municipal Gas Acquisition & Suppl
0.33
 5.500
01/01/2054
1,053,550
Southeast Alabama Gas Supply District/T
0.33
 5.000
08/01/2054
1,052,545
University Of Connecticut
0.33
 5.000
04/15/2029
1,051,807
New Jersey Health Care Facilities Finan
0.33
 5.000
07/01/2031
1,051,524
New York City Transitional Finance Auth
0.33
 5.000
07/15/2031
1,050,276
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,047,054
State Of California
0.33
 5.000
10/01/2027
1,045,295
State Of California
0.33
 5.000
11/01/2028
1,043,946
State Of California
0.33
 5.000
09/01/2028
1,042,396
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,042,184
Main Street Natural Gas Inc
0.33
 5.000
09/01/2053
1,041,772
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,041,691
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,041,062
Southern California Public Power Author
0.33
 5.000
07/01/2053
1,040,765
State Of Illinois
0.33
 5.000
11/01/2027
1,040,047
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,038,832
Main Street Natural Gas Inc
0.33
 5.000
07/01/2053
1,038,710
City Of Houston Tx
0.33
 5.000
03/01/2032
1,036,702
Tobacco Settlement Financing Corp
0.33
 5.000
06/01/2032
1,036,434
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,035,027
University Of Minnesota
0.33
 5.000
12/01/2031
1,034,760
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,027,345
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2027
1,026,817
Hillsboro School District No 1j
0.33
 5.000
06/15/2031
1,025,078
New York State Dormitory Authority
0.32
 5.000
08/01/2030
1,023,981
San Francisco City & County Public Util
0.32
 5.000
10/01/2026
1,023,921
Louisville/Jefferson County Metropolita
0.32
 5.000
10/01/2047
1,023,805
Commonwealth Of Pennsylvania
0.32
 5.000
09/01/2027
1,023,218
County Of Harris Tx Toll Road Revenue
0.32
 5.000
08/15/2027
1,023,094
State Of California
0.32
 5.000
09/01/2027
1,022,738
City Of New York Ny
0.32
 5.000
09/01/2027
1,021,970
City Of New York Ny
0.32
 5.000
09/01/2027
1,021,970
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,020,915
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,020,465
Metropolitan Council
0.32
 5.000
12/01/2026
1,019,220
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,018,899
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,017,788
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,016,948
California State Public Works Board
0.32
 4.000
11/01/2031
1,015,192
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,015,175
Black Belt Energy Gas District
0.32
 4.000
06/01/2051
1,008,668
County Of Baltimore Md
0.32
 5.000
03/01/2030
1,005,891
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,005,573
New York City Housing Development Corp
0.32
 3.250
11/01/2064
1,003,467
State Of Connecticut
0.32
 3.000
06/01/2029
1,000,541
California Community Choice Financing A
0.32
 4.000
02/01/2052
998,421
State Of Hawaii
0.32
 3.000
10/01/2029
996,936
Indiana Finance Authority
0.32
 5.000
06/01/2029
995,035
Long Island Power Authority
0.32
 3.000
09/01/2055
993,512
State Of Florida
0.31
 3.000
06/01/2030
991,241
New York City Housing Development Corp
0.31
 3.125
11/01/2065
989,905
State Of Minnesota
0.31
 3.000
10/01/2030
987,675
New York City Housing Development Corp
0.31
 3.150
05/01/2066
986,891
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
983,130
State Of California
0.31
 5.000
11/01/2028
967,523
State Of California Department Of Water
0.30
 5.000
12/01/2031
949,395
Board Of Regents Of The University Of T
0.30
 5.000
08/15/2031
945,949
New York State Dormitory Authority
0.30
 5.000
02/15/2032
945,479
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
943,859
Fort Bend Independent School District
0.30
 5.000
02/15/2028
939,539
Collin County Community College Distric
0.30
 4.000
08/15/2031
931,307
State Of Washington
0.29
 5.000
08/01/2031
898,625
Beverly Hills Unified School District C
0.28
 --
08/01/2030
888,829
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
879,186
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
862,915
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
862,459
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
852,647
California State Public Works Board
0.27
 5.000
10/01/2026
849,766
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
828,322
Public Finance Authority
0.26
 4.000
10/01/2041
825,658
California State Public Works Board
0.26
 5.000
10/01/2028
820,442
State Of Illinois
0.26
 5.000
11/01/2026
816,923
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
816,258
State Of California
0.26
 5.000
10/01/2030
809,331
State Of Louisiana
0.25
 5.000
03/01/2032
801,984
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
788,150
County Of Fairfax Va
0.25
 5.000
10/01/2031
787,351
City Of Columbus Oh
0.25
 5.000
04/01/2029
784,041
California Health Facilities Financing
0.25
 5.000
11/15/2031
779,160
State Of North Carolina
0.25
 3.000
05/01/2031
777,018
State Of California
0.25
 5.000
04/01/2027
776,043
County Of Montgomery Md
0.25
 4.000
08/01/2029
774,724
State Of Maryland Department Of Transpo
0.24
 4.000
05/01/2030
767,951
University Of Connecticut
0.24
 5.000
01/15/2030
755,797
Regional Transportation Authority
0.24
 5.000
07/01/2028
751,141
Energy Northwest
0.24
 5.000
07/01/2028
744,710
Virginia Public Building Authority
0.23
 5.000
08/01/2029
736,782
New Jersey Economic Development Authori
0.23
 3.125
07/01/2031
733,244
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
733,051
California State Public Works Board
0.23
 5.000
11/01/2029
727,896
City Of South Miami Health Facilities A
0.23
 5.000
08/15/2029
724,243
New York State Urban Development Corp
0.23
 5.000
03/15/2027
715,228
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,523
City Of New York Ny
0.22
 5.000
04/01/2032
695,256
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
692,588
State Of Illinois
0.22
 3.500
06/01/2029
688,484
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
684,030
New Jersey Health Care Facilities Finan
0.21
 5.000
07/01/2029
676,605
New York State Dormitory Authority
0.21
 5.000
03/15/2028
676,255
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
665,135
Pennsylvania Housing Finance Agency
0.21
 2.800
10/01/2031
663,471
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
660,861
New York State Environmental Facilities
0.20
 5.000
06/15/2028
634,710
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
634,097
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
633,087
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
631,238
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
627,315
City Of Dallas Tx Waterworks & Sewer Sy
0.20
 5.000
10/01/2031
614,531
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
609,984
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
609,173
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,771
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
605,079
State Of North Carolina
0.19
 5.000
05/01/2029
602,930
New York State Dormitory Authority
0.19
 5.000
02/15/2032
601,512
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
592,637
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
578,728
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
569,119
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,348
State Of California
0.18
 5.000
10/01/2027
554,006
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
549,802
Massachusetts Development Finance Agenc
0.17
 5.000
05/15/2055
547,854
Salt River Project Agricultural Improve
0.17
 5.000
01/01/2032
547,707
Energy Northwest
0.17
 5.000
07/01/2031
545,142
City Of New York Ny
0.17
 5.000
08/01/2030
544,095
New York State Dormitory Authority
0.17
 5.000
03/15/2030
543,833
County Of Jefferson Al
0.17
 5.000
09/15/2028
543,139
Utah Transit Authority
0.17
 5.000
12/15/2030
541,761
Utah Transit Authority
0.17
 5.000
06/15/2030
538,777
City Of New York Ny
0.17
 5.000
11/01/2030
538,537
Rutherford Cty Health & Edu Fac Brd
0.17
 5.000
11/15/2048
535,157
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
535,085
City Of New York Ny
0.17
 5.000
10/01/2031
534,711
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
534,270
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
533,435
City Of San Francisco Ca Public Utiliti
0.17
 5.000
11/01/2028
532,876
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
532,835
Southeast Energy Authority A Cooperativ
0.17
 5.000
10/01/2030
532,746
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
531,847
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
531,144
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
531,016
California Community Choice Financing A
0.17
 5.250
01/01/2054
530,648
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
530,083
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
529,030
State Of Maryland
0.17
 5.000
03/15/2028
528,324
Austin Independent School District
0.17
 5.000
08/01/2028
526,868
City Of Houston Tx
0.17
 5.000
03/01/2032
524,522
Grand River Dam Authority
0.17
 5.000
06/01/2031
524,472
Arizona Industrial Development Authorit
0.17
 5.000
11/01/2028
522,780
Virginia Commonwealth Transportation Bo
0.17
 5.000
03/15/2027
522,779
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
522,766
State Of California
0.17
 5.000
10/01/2027
522,647
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
522,388
California Health Facilities Financing
0.17
 5.000
11/01/2027
522,306
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
522,245
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
521,833
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
521,171
State Of Michigan Trunk Line Revenue
0.17
 5.000
11/15/2027
520,764
Tennessee Energy Acquisition Corp
0.16
 5.000
05/01/2053
519,651
California Community Choice Financing A
0.16
 5.000
02/01/2054
519,070
Tobacco Settlement Financing Corp
0.16
 5.000
06/01/2031
518,897
Illinois Finance Authority
0.16
 5.000
01/01/2028
518,524
New York State Urban Development Corp
0.16
 5.000
03/15/2027
518,281
Kentucky Public Energy Authority
0.16
 5.000
01/01/2055
518,065
State Of Maryland
0.16
 5.000
03/15/2028
517,994
Shelby County Health Educational & Hous
0.16
 5.000
09/01/2049
517,674
New York State Dormitory Authority
0.16
 5.000
02/15/2027
516,828
Montgomery County Industrial Developmen
0.16
 4.100
10/01/2053
516,496
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,256
American Municipal Power Inc
0.16
 5.000
02/15/2028
515,036
Lower Colorado River Authority
0.16
 5.000
05/15/2027
514,832
University Of Colorado
0.16
 4.000
06/01/2034
514,482
Los Angeles Department Of Water & Power
0.16
 5.000
07/01/2028
514,260
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2031
514,025
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
513,878
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,679
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2032
513,325
New Jersey Health Care Facilities Finan
0.16
 5.000
09/15/2026
512,530
City Of New York Ny
0.16
 5.000
08/01/2027
512,211
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
511,011
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
510,715
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
510,267
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
510,172
County Of Cook Il
0.16
 5.000
11/15/2028
510,097
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
509,502
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
509,012
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,971
State Of Colorado
0.16
 5.000
12/15/2026
508,830
North Texas Tollway Authority
0.16
 5.000
01/01/2027
508,309
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
508,159
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
507,278
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
507,138
Alamo Community College District
0.16
 4.000
08/15/2032
507,023
County Of Bexar Tx
0.16
 5.000
06/15/2027
506,985
New York State Housing Finance Agency
0.16
 3.600
11/01/2063
506,874
City Of Forsyth Mt
0.16
 3.875
07/01/2028
506,821
New York State Dormitory Authority
0.16
 5.000
02/15/2027
506,694
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
506,590
California Community Choice Financing A
0.16
 4.000
05/01/2053
506,385
California State University
0.16
 3.125
11/01/2051
506,016
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
505,907
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
505,481
Butler County Unified School District N
0.16
 4.000
09/01/2030
503,596
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
501,795
Maryland Community Development Administ
0.16
 3.300
01/01/2029
501,251
Michigan State Housing Development Auth
0.16
 3.700
04/01/2030
500,370
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
496,078
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
495,174
City Of San Antonio Tx Electric & Gas S
0.15
 3.150
02/01/2055
485,296
State Of Maryland Department Of Transpo
0.15
 3.000
09/01/2031
482,489
California State Public Works Board
0.15
 3.000
09/01/2031
479,086
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
459,133
County Of Miami-Dade Fl
0.14
 --
10/01/2031
454,149
State Of Mississippi
0.14
 5.000
10/01/2029
448,340
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
442,259
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,934
Pennsylvania Housing Finance Agency
0.13
 3.200
10/01/2031
421,343
City Of New York Ny
0.13
 5.000
03/01/2027
414,806
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
409,528
State Of Michigan
0.13
 3.000
05/01/2030
405,778
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
380,411
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
378,595
University Of Utah/The
0.12
 5.000
08/01/2031
372,443
City Of Chicago Il
0.12
 5.000
01/01/2027
369,975
Michigan State Housing Development Auth
0.11
 3.100
12/01/2031
360,219
Canadian County Educational Facilities
0.10
 3.000
09/01/2029
323,412
California Health Facilities Financing
0.10
 5.000
08/15/2031
314,084
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
312,716
Long Island Power Authority
0.10
 5.000
09/01/2031
311,003
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
271,965
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
265,127
Texas Water Development Board
0.08
 5.000
04/15/2030
260,075
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
258,385
Maryland Health & Higher Educational Fa
0.08
 --
01/01/2029
256,670
County Of Mecklenburg Nc
0.07
 2.000
12/01/2030
232,360
State Public School Building Authority
0.06
 5.000
06/01/2029
203,493
Jea Electric System Revenue
0.04
 5.000
10/01/2029
114,610
--
0.27
 --
--
839,137
Other/Cash
0.08
 --
--
257,844
← Scroll for more information →
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

Sector Weightings (%) as at 08/31/2026

  • Sector

    % of Net Assets

  • State GO

    18.26

  • Local GO

    14.68

  • Utilities - Other

    9.99

  • Tax

    9.92

  • Hospitals

    7.03

  • Power

    6.46

  • Education

    5.78

  • Water & Sewer

    5.56

  • Transportation

    5.34

  • Leasing COPS & Appropriations

    4.81

  • Refunded

    2.77

  • Multi-Family Housing

    2.48

  • Toll & Turnpike

    2.02

  • Airport

    1.00

  • Misc

    0.92

  • Pollution Control

    0.91

  • Tobacco

    0.66

  • Single Family Housing

    0.66

  • Industrial Development Revenue

    0.39

  • Unassigned

    0.22

  • Health

    0.16

Credit Quality (%) as of 08/31/2026

Composite % of Net Assets
Investment Grade AAA 18.37
AA 49.54
A 19.14
BBB 4.31
Total Investment Grade -- 91.36
Not Rated -- 8.64
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Years to Maturity as at 08/31/2026

  • Years

    Maturity (%)

  • < 1

    14.10

  • 1 - 3

    21.50

  • 3 - 5

    37.60

  • 5 - 7

    22.50

  • 7 - 10

    0.50

  • 10 - 15

    0.60

  • 15 - 20

    0.30

  • 20 - 30

    2.40

  • 30 +

    0.50

Fees

Distributions

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
09/01/2026 09/01/2026 09/04/2026 $ 0.0413 -- -- -- $ 0.04
08/03/2026 08/03/2026 08/06/2026 $ 0.0435 -- -- -- $ 0.04
07/01/2026 07/01/2026 07/07/2026 $ 0.0467 -- -- -- $ 0.05
06/01/2026 06/01/2026 06/04/2026 $ 0.0356 -- -- -- $ 0.04
05/01/2026 05/01/2026 05/06/2026 $ 0.0387 -- -- -- $ 0.04
04/01/2026 04/01/2026 04/07/2026 $ 0.0458 -- -- -- $ 0.05
03/02/2026 03/02/2026 03/05/2026 $ 0.0356 -- -- -- $ 0.04
02/02/2026 02/02/2026 02/05/2026 $ 0.0398 -- -- -- $ 0.04
12/29/2025 12/29/2025 12/31/2025 $ 0.0405 -- -- -- $ 0.04
11/28/2025 11/28/2025 12/03/2025 $ 0.0372 -- -- -- $ 0.04
11/03/2025 11/03/2025 11/06/2025 $ 0.0405 -- -- -- $ 0.04
10/01/2025 10/01/2025 10/06/2025 $ 0.0371 -- -- -- $ 0.04
09/02/2025 09/02/2025 09/05/2025 $ 0.0389 -- -- -- $ 0.04
08/01/2025 08/01/2025 08/06/2025 $ 0.0402 -- -- -- $ 0.04
07/01/2025 07/01/2025 07/07/2025 $ 0.0368 -- -- -- $ 0.04
06/02/2025 06/02/2025 06/05/2025 $ 0.0384 -- -- -- $ 0.04
05/01/2025 05/01/2025 05/06/2025 $ 0.0356 -- -- -- $ 0.04
04/01/2025 04/01/2025 04/04/2025 $ 0.0432 -- -- -- $ 0.04
03/03/2025 03/03/2025 03/06/2025 $ 0.0325 -- -- -- $ 0.03
02/03/2025 02/03/2025 02/06/2025 $ 0.0366 -- -- -- $ 0.04
12/27/2024 12/27/2024 12/30/2024 $ 0.0368 -- -- -- $ 0.04
12/02/2024 12/02/2024 12/05/2024 $ 0.0340 -- -- -- $ 0.03
11/01/2024 11/01/2024 11/06/2024 $ 0.0372 -- -- -- $ 0.04
10/01/2024 10/01/2024 10/04/2024 $ 0.0344 -- -- -- $ 0.03
09/03/2024 09/03/2024 09/06/2024 $ 0.0347 -- -- -- $ 0.03
08/01/2024 08/01/2024 08/06/2024 $ 0.0368 -- -- -- $ 0.04
07/01/2024 07/01/2024 07/05/2024 $ 0.0329 -- -- -- $ 0.03
06/03/2024 06/03/2024 06/06/2024 $ 0.0250 -- -- -- $ 0.03
05/01/2024 05/02/2024 05/07/2024 $ 0.0300 -- -- -- $ 0.03
04/01/2024 04/02/2024 04/05/2024 $ 0.0442 -- -- -- $ 0.04
03/01/2024 03/04/2024 03/07/2024 $ 0.0292 -- -- -- $ 0.03
02/01/2024 02/02/2024 02/07/2024 $ 0.0315 -- -- -- $ 0.03
12/27/2023 12/28/2023 12/29/2023 $ 0.0314 -- -- -- $ 0.03
12/01/2023 12/04/2023 12/07/2023 $ 0.0274 -- -- -- $ 0.03
11/01/2023 11/02/2023 11/07/2023 $ 0.0300 -- -- -- $ 0.03
10/02/2023 10/03/2023 10/06/2023 $ 0.0269 -- -- -- $ 0.03
09/01/2023 09/05/2023 09/08/2023 $ 0.0245 -- -- -- $ 0.02
08/01/2023 08/02/2023 08/10/2023 $ 0.0312 -- -- -- $ 0.03
07/03/2023 07/05/2023 07/07/2023 $ 0.0240 -- -- -- $ 0.02
06/01/2023 06/02/2023 06/07/2023 $ 0.0246 -- -- -- $ 0.02
05/01/2023 05/02/2023 05/05/2023 $ 0.0219 -- -- -- $ 0.02
04/03/2023 04/04/2023 04/10/2023 $ 0.0297 -- -- -- $ 0.03
03/01/2023 03/02/2023 03/07/2023 $ 0.0185 -- -- -- $ 0.02
02/01/2023 02/02/2023 02/07/2023 $ 0.0227 -- -- -- $ 0.02
12/28/2022 12/29/2022 12/30/2022 $ 0.0231 -- -- -- $ 0.02
12/01/2022 12/02/2022 12/07/2022 $ 0.0197 -- -- -- $ 0.02
11/01/2022 11/02/2022 11/07/2022 $ 0.0215 -- -- -- $ 0.02
10/03/2022 10/04/2022 10/07/2022 $ 0.0180 -- -- -- $ 0.02
09/01/2022 09/02/2022 09/08/2022 $ 0.0191 -- -- -- $ 0.02
08/01/2022 08/02/2022 08/05/2022 $ 0.0205 -- -- -- $ 0.02
07/01/2022 07/05/2022 07/08/2022 $ 0.0204 -- -- -- $ 0.02
06/01/2022 06/02/2022 06/07/2022 $ 0.0166 -- -- -- $ 0.02
05/02/2022 05/03/2022 05/06/2022 $ 0.0172 -- -- -- $ 0.02
04/01/2022 04/04/2022 04/07/2022 $ 0.0178 -- -- -- $ 0.02
03/01/2022 03/02/2022 03/07/2022 $ 0.0131 -- -- -- $ 0.01
02/01/2022 02/02/2022 02/07/2022 $ 0.0151 -- -- -- $ 0.02
12/29/2021 12/30/2021 12/31/2021 $ 0.0169 $ 0.0018 $ 0.0226 -- $ 0.04
12/01/2021 12/02/2021 12/07/2021 $ 0.0142 -- -- -- $ 0.01
11/01/2021 11/02/2021 11/05/2021 $ 0.0168 -- -- -- $ 0.02
10/01/2021 10/04/2021 10/07/2021 $ 0.0143 -- -- -- $ 0.01
09/01/2021 09/02/2021 09/08/2021 $ 0.0159 -- -- -- $ 0.02
08/02/2021 08/03/2021 08/06/2021 $ 0.0175 -- -- -- $ 0.02
07/01/2021 07/02/2021 07/08/2021 $ 0.0162 -- -- -- $ 0.02
06/01/2021 06/02/2021 06/07/2021 $ 0.0177 -- -- -- $ 0.02
05/03/2021 05/04/2021 05/07/2021 $ 0.0167 -- -- -- $ 0.02
04/01/2021 04/05/2021 04/08/2021 $ 0.0189 -- -- -- $ 0.02
03/01/2021 03/02/2021 03/05/2021 $ 0.0148 -- -- -- $ 0.01
02/01/2021 02/02/2021 02/05/2021 $ 0.0178 -- -- -- $ 0.02
12/29/2020 12/30/2020 01/05/2021 $ 0.0222 -- -- -- $ 0.02
12/01/2020 12/02/2020 12/07/2020 $ 0.0199 -- -- -- $ 0.02
11/02/2020 11/03/2020 11/06/2020 $ 0.0232 -- -- -- $ 0.02
10/01/2020 10/02/2020 10/07/2020 $ 0.0207 -- -- -- $ 0.02
09/01/2020 09/02/2020 09/08/2020 $ 0.0226 -- -- -- $ 0.02
08/03/2020 08/04/2020 08/07/2020 $ 0.0248 -- -- -- $ 0.02
07/01/2020 07/02/2020 07/08/2020 $ 0.0216 -- -- -- $ 0.02
06/01/2020 06/02/2020 06/05/2020 $ 0.0245 -- -- -- $ 0.02
05/01/2020 05/04/2020 05/07/2020 $ 0.0236 -- -- -- $ 0.02
04/01/2020 04/02/2020 04/07/2020 $ 0.0244 -- -- -- $ 0.02
03/02/2020 03/03/2020 03/06/2020 $ 0.0212 -- -- -- $ 0.02
02/03/2020 02/04/2020 02/07/2020 $ 0.0234 -- -- -- $ 0.02
12/30/2019 12/31/2019 01/06/2020 $ 0.0247 -- -- -- $ 0.02
12/02/2019 12/03/2019 12/06/2019 $ 0.0240 -- -- -- $ 0.02
11/01/2019 11/04/2019 11/07/2019 $ 0.0233 -- -- -- $ 0.02
10/01/2019 10/02/2019 10/07/2019 $ 0.0226 -- -- -- $ 0.02
09/03/2019 09/04/2019 09/09/2019 $ 0.0236 -- -- -- $ 0.02
08/01/2019 08/02/2019 08/07/2019 $ 0.0238 -- -- -- $ 0.02
07/01/2019 07/02/2019 07/08/2019 $ 0.0231 -- -- -- $ 0.02
06/03/2019 06/04/2019 06/07/2019 $ 0.0227 -- -- -- $ 0.02
05/01/2019 05/02/2019 05/07/2019 $ 0.0233 -- -- -- $ 0.02
04/01/2019 04/02/2019 04/05/2019 $ 0.0240 -- -- -- $ 0.02
03/01/2019 03/04/2019 03/07/2019 $ 0.0220 -- -- -- $ 0.02
02/01/2019 02/04/2019 02/07/2019 $ 0.0240 -- -- -- $ 0.02
12/27/2018 12/28/2018 01/03/2019 $ 0.0237 -- -- -- $ 0.02
12/03/2018 12/04/2018 12/07/2018 $ 0.0224 -- -- -- $ 0.02
11/01/2018 11/02/2018 11/07/2018 $ 0.0228 -- -- -- $ 0.02
10/01/2018 10/02/2018 10/05/2018 $ 0.0221 -- -- -- $ 0.02
09/04/2018 09/05/2018 09/10/2018 $ 0.0224 -- -- -- $ 0.02
08/01/2018 08/02/2018 08/07/2018 $ 0.0223 -- -- -- $ 0.02
07/02/2018 07/03/2018 07/09/2018 $ 0.0223 -- -- -- $ 0.02
06/01/2018 06/04/2018 06/07/2018 $ 0.0223 -- -- -- $ 0.02
05/01/2018 05/02/2018 05/07/2018 $ 0.0200 -- -- -- $ 0.02
04/02/2018 04/03/2018 04/06/2018 $ 0.0203 -- -- -- $ 0.02
03/01/2018 03/02/2018 03/07/2018 $ 0.0178 -- -- -- $ 0.02
02/01/2018 02/02/2018 02/07/2018 $ 0.0198 -- -- -- $ 0.02
12/27/2017 12/28/2017 01/03/2018 $ 0.0188 -- -- -- $ 0.02
12/01/2017 12/04/2017 12/07/2017 $ 0.0178 -- -- -- $ 0.02
11/01/2017 11/02/2017 11/07/2017 $ 0.0183 -- -- -- $ 0.02
10/02/2017 10/03/2017 10/06/2017 $ 0.0175 -- -- -- $ 0.02
09/01/2017 09/06/2017 09/08/2017 $ 0.0179 -- -- -- $ 0.02
08/01/2017 08/03/2017 08/07/2017 $ 0.0178 -- -- -- $ 0.02
07/03/2017 07/06/2017 07/10/2017 $ 0.0175 -- -- -- $ 0.02
06/01/2017 06/05/2017 06/07/2017 $ 0.0188 -- -- -- $ 0.02
05/01/2017 05/03/2017 05/05/2017 $ 0.0171 -- -- -- $ 0.02
04/03/2017 04/05/2017 04/07/2017 $ 0.0177 -- -- -- $ 0.02
03/01/2017 03/03/2017 03/07/2017 $ 0.0153 -- -- -- $ 0.02
02/01/2017 02/03/2017 02/07/2017 $ 0.0170 -- -- -- $ 0.02
12/28/2016 12/30/2016 01/04/2017 $ 0.0166 -- -- -- $ 0.02
12/01/2016 12/05/2016 12/07/2016 $ 0.0154 -- -- -- $ 0.02
11/01/2016 11/03/2016 11/07/2016 $ 0.0155 -- -- -- $ 0.02
10/03/2016 10/05/2016 10/07/2016 $ 0.0155 -- -- -- $ 0.02
09/01/2016 09/06/2016 09/08/2016 $ 0.0160 -- -- -- $ 0.02
08/01/2016 08/03/2016 08/05/2016 $ 0.0160 -- -- -- $ 0.02
07/01/2016 07/06/2016 07/08/2016 $ 0.0160 -- -- -- $ 0.02
06/01/2016 06/03/2016 06/07/2016 $ 0.0168 -- -- -- $ 0.02
05/02/2016 05/04/2016 05/06/2016 $ 0.0163 -- -- -- $ 0.02
04/01/2016 04/05/2016 04/07/2016 $ 0.0168 -- -- -- $ 0.02
03/01/2016 03/03/2016 03/07/2016 $ 0.0158 -- -- -- $ 0.02
02/01/2016 02/03/2016 02/05/2016 $ 0.0170 -- -- -- $ 0.02
12/29/2015 12/31/2015 01/05/2016 $ 0.0170 -- -- -- $ 0.02
12/01/2015 12/03/2015 12/07/2015 $ 0.0164 -- -- -- $ 0.02
11/02/2015 11/04/2015 11/06/2015 $ 0.0175 -- -- -- $ 0.02
10/01/2015 10/05/2015 10/07/2015 $ 0.0168 -- -- -- $ 0.02
09/01/2015 09/03/2015 09/08/2015 $ 0.0167 -- -- -- $ 0.02
08/03/2015 08/05/2015 08/07/2015 $ 0.0165 -- -- -- $ 0.02
07/01/2015 07/06/2015 07/08/2015 $ 0.0162 -- -- -- $ 0.02
06/01/2015 06/03/2015 06/05/2015 $ 0.0166 -- -- -- $ 0.02
05/01/2015 05/05/2015 05/07/2015 $ 0.0160 -- -- -- $ 0.02
04/01/2015 04/06/2015 04/08/2015 $ 0.0166 -- -- -- $ 0.02
03/02/2015 03/04/2015 03/06/2015 $ 0.0150 -- -- -- $ 0.01
02/02/2015 02/04/2015 02/06/2015 $ 0.0169 -- -- -- $ 0.02
12/29/2014 12/31/2014 01/05/2015 $ 0.0169 -- -- -- $ 0.02
12/01/2014 12/03/2014 12/05/2014 $ 0.0160 -- -- -- $ 0.02
11/03/2014 11/05/2014 11/07/2014 $ 0.0171 -- -- -- $ 0.02
10/01/2014 10/03/2014 10/07/2014 $ 0.0162 -- -- -- $ 0.02
09/02/2014 09/04/2014 09/08/2014 $ 0.0174 -- -- -- $ 0.02
08/01/2014 08/05/2014 08/07/2014 $ 0.0175 -- -- -- $ 0.02
07/01/2014 07/03/2014 07/08/2014 $ 0.0169 -- -- -- $ 0.02
06/02/2014 06/04/2014 06/06/2014 $ 0.0178 -- -- -- $ 0.02
05/01/2014 05/05/2014 05/07/2014 $ 0.0180 -- -- -- $ 0.02
04/01/2014 04/03/2014 04/07/2014 $ 0.0184 -- -- -- $ 0.02
03/03/2014 03/05/2014 03/07/2014 $ 0.0202 -- -- -- $ 0.02
02/03/2014 02/05/2014 02/07/2014 $ 0.0205 -- -- -- $ 0.02
12/27/2013 12/31/2013 01/03/2014 $ 0.0209 -- -- -- $ 0.02
12/02/2013 12/04/2013 12/06/2013 $ 0.0203 -- -- -- $ 0.02
11/01/2013 11/05/2013 11/07/2013 $ 0.0232 -- -- -- $ 0.02
10/01/2013 10/03/2013 10/07/2013 $ 0.0198 -- -- -- $ 0.02
09/03/2013 09/05/2013 09/09/2013 $ 0.0204 -- -- -- $ 0.02
08/01/2013 08/05/2013 08/07/2013 $ 0.0194 -- -- -- $ 0.02
07/01/2013 07/03/2013 07/08/2013 $ 0.0195 -- -- -- $ 0.02
06/03/2013 06/05/2013 06/07/2013 $ 0.0200 -- -- -- $ 0.02
05/01/2013 05/03/2013 05/07/2013 $ 0.0200 -- -- -- $ 0.02
04/01/2013 04/03/2013 04/05/2013 $ 0.0204 -- -- -- $ 0.02
03/01/2013 03/05/2013 03/07/2013 $ 0.0186 -- -- -- $ 0.02
02/01/2013 02/05/2013 02/07/2013 $ 0.0202 -- -- -- $ 0.02
12/27/2012 12/31/2012 01/03/2013 $ 0.0213 -- $ 0.0110 -- $ 0.03
12/03/2012 12/05/2012 12/07/2012 $ 0.0205 -- -- -- $ 0.02
11/01/2012 11/05/2012 11/07/2012 $ 0.0210 -- -- -- $ 0.02
10/01/2012 10/03/2012 10/05/2012 $ 0.0213 -- -- -- $ 0.02
09/04/2012 09/07/2012 09/10/2012 $ 0.0226 -- -- -- $ 0.02
08/01/2012 08/03/2012 08/07/2012 $ 0.0234 -- -- -- $ 0.02
07/02/2012 07/05/2012 07/09/2012 $ 0.0233 -- -- -- $ 0.02
06/01/2012 06/05/2012 06/07/2012 $ 0.0245 -- -- -- $ 0.02
05/01/2012 05/03/2012 05/07/2012 $ 0.0243 -- -- -- $ 0.02
04/02/2012 04/04/2012 04/09/2012 $ 0.0258 -- -- -- $ 0.03
03/01/2012 03/05/2012 03/07/2012 $ 0.0248 -- -- -- $ 0.02
02/01/2012 02/03/2012 02/07/2012 $ 0.0265 -- -- -- $ 0.03
12/28/2011 12/30/2011 01/04/2012 $ 0.0279 -- $ 0.0002 -- $ 0.03
12/01/2011 12/05/2011 12/07/2011 $ 0.0270 -- -- -- $ 0.03
11/01/2011 11/03/2011 11/07/2011 $ 0.0270 -- -- -- $ 0.03
10/03/2011 10/05/2011 10/07/2011 $ 0.0270 -- -- -- $ 0.03
09/01/2011 09/06/2011 09/08/2011 $ 0.0282 -- -- -- $ 0.03
08/01/2011 08/03/2011 08/05/2011 $ 0.0290 -- -- -- $ 0.03
07/01/2011 07/06/2011 07/08/2011 $ 0.0268 -- -- -- $ 0.03
06/01/2011 06/03/2011 06/07/2011 $ 0.0290 -- -- -- $ 0.03
05/02/2011 05/04/2011 05/06/2011 $ 0.0275 -- -- -- $ 0.03
04/01/2011 04/05/2011 04/07/2011 $ 0.0330 -- -- -- $ 0.03
03/01/2011 03/03/2011 03/07/2011 $ 0.0281 -- -- -- $ 0.03
02/01/2011 02/03/2011 02/07/2011 $ 0.0310 -- -- -- $ 0.03
12/29/2010 12/31/2010 01/05/2011 $ 0.0300 $ 0.0210 $ 0.0370 -- $ 0.09
12/01/2010 12/03/2010 12/07/2010 $ 0.0280 -- -- -- $ 0.03
11/01/2010 11/03/2010 11/05/2010 $ 0.0290 -- -- -- $ 0.03
10/01/2010 10/05/2010 10/07/2010 $ 0.0290 -- -- -- $ 0.03
09/01/2010 09/03/2010 09/08/2010 $ 0.0300 -- -- -- $ 0.03
08/02/2010 08/04/2010 08/06/2010 $ 0.0300 -- -- -- $ 0.03
07/01/2010 07/06/2010 07/08/2010 $ 0.0290 -- -- -- $ 0.03
06/01/2010 06/03/2010 06/07/2010 $ 0.0300 -- -- -- $ 0.03
05/03/2010 05/05/2010 05/07/2010 $ 0.0300 -- -- -- $ 0.03
04/01/2010 04/06/2010 04/08/2010 $ 0.0300 -- -- -- $ 0.03
03/01/2010 03/03/2010 03/05/2010 $ 0.0280 -- -- -- $ 0.03
02/01/2010 02/03/2010 02/05/2010 $ 0.0300 -- -- -- $ 0.03
12/29/2009 12/31/2009 01/05/2010 $ 0.0325 -- -- -- $ 0.03
12/01/2009 12/03/2009 12/07/2009 $ 0.0310 -- -- -- $ 0.03
11/02/2009 11/04/2009 11/06/2009 $ 0.0320 -- -- -- $ 0.03
10/01/2009 10/05/2009 10/07/2009 $ 0.0300 -- -- -- $ 0.03
09/01/2009 09/03/2009 09/08/2009 $ 0.0315 -- -- -- $ 0.03
08/03/2009 08/05/2009 08/07/2009 $ 0.0360 -- -- -- $ 0.04
07/01/2009 07/06/2009 07/08/2009 $ 0.0340 -- -- -- $ 0.03
06/01/2009 06/03/2009 06/05/2009 $ 0.0350 -- -- -- $ 0.04
05/01/2009 05/05/2009 05/07/2009 $ 0.0370 -- -- -- $ 0.04
04/01/2009 04/03/2009 04/07/2009 $ 0.0400 -- -- -- $ 0.04
03/02/2009 03/04/2009 03/06/2009 $ 0.0360 -- -- -- $ 0.04
02/02/2009 02/04/2009 02/06/2009 $ 0.0380 -- -- -- $ 0.04
12/26/2008 12/30/2008 01/06/2009 $ 0.0370 -- -- -- $ 0.04
12/01/2008 12/03/2008 12/05/2008 $ 0.0450 -- -- -- $ 0.04
11/03/2008 11/05/2008 11/07/2008 $ 0.0340 -- -- -- $ 0.03
10/01/2008 10/03/2008 10/07/2008 $ 0.0367 -- -- -- $ 0.04
09/02/2008 09/04/2008 09/09/2008 $ 0.0393 -- -- -- $ 0.04
08/01/2008 08/05/2008 08/07/2008 $ 0.0377 -- -- -- $ 0.04
07/01/2008 07/03/2008 07/08/2008 $ 0.0367 -- -- -- $ 0.04
06/02/2008 06/04/2008 06/06/2008 $ 0.0400 -- -- -- $ 0.04
05/01/2008 05/05/2008 05/07/2008 $ 0.0100 -- -- -- $ 0.01
04/01/2008 04/03/2008 04/08/2008 $ 0.0687 -- -- -- $ 0.07

‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck 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 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.

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