Allocating to real assets is one way that investors can position their portfolios for a prolonged inflationary environment, as real assets have historically performed well in prior periods of high inflation. VanEck Real Assets ETF (RAAX®) seeks to be a one-stop, diversified and risk managed solution to access the inflation protection of real assets.

RAAX - VanEck Real Assets ETF | Holdings & Performance

RAAX

VanEck Real Assets ETF

RAAX

VanEck Real Assets ETF

VanEck Real Assets ETF (the "Fund") seeks long-term total return. In pursuing long-term total return, the Fund seeks to maximize real returns while seeking to reduce downside risk during sustained market declines. The Fund primarily allocates to exchange-traded products that provide exposure to real assets including resource assets: commodities, natural resource equities; income assets: REITs, Infrastructure, MLPs; and gold, which includes gold mining equities.

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Why RAAX

Exposure to key inflation fighting assets

Adapts to a wide variety of inflationary regimes

Responds to changing risk environment

No K-1s – Access to real assets without burdensome K-1 tax reporting

Performance

Fees

Holdings

All Holdings (%) as of 10 Sep 2026

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Total Holdings: 119

Ticker	Holding Name	% of Net Assets	Identifier (FIGI)	Shares	Asset Class	Market Value (US$)	Notional Value
PIT	VanEck Commodity Strategy ETF	25.26	BBG01C3FR5N9	4,066,130	Stock	341,697,235	--
OUNZ	VanEck Merk Gold Shares	19.47	BBG002WYN8V8	6,337,421	Stock	263,319,843	--
WMB	Williams Cos Inc/The	1.81	BBG000BWVCP8	339,037	Stock	24,510,680	--
TRGP	Targa Resources Corp	1.72	BBG0015XMW40	79,789	Stock	23,291,207	--
KMI	Kinder Morgan Inc	1.63	BBG0019JZ882	712,598	Stock	22,054,908	--
TRP CN	Tc Energy Corp	1.19	BBG000D07ZQ1	259,652	Stock	16,088,860	--
CSX	Csx Corp	1.18	BBG000BGJRC8	326,353	Stock	16,004,351	--
PWR	Quanta Services Inc	1.17	BBG000BBL8V7	25,532	Stock	15,797,414	--
NEM	Newmont Corp	1.17	BBG000BPWXK1	125,118	Stock	15,782,385	--
VLO	Valero Energy Corp	1.11	BBG000BBGGQ1	38,845	Stock	14,972,028	--
MPC	Marathon Petroleum Corp	1.10	BBG001DCCGR8	37,827	Stock	14,844,071	--
PSX	Phillips 66	1.01	BBG00286S4N9	52,655	Stock	13,611,844	--
WELL	Welltower Inc	0.90	BBG000BKY1G5	51,861	Stock	12,224,156	--
ALA CN	Altagas Ltd	0.88	BBG000D5BDF6	315,948	Stock	11,945,644	--
XOM	Exxon Mobil Corp	0.85	BBG000GZQ728	69,168	Stock	11,428,629	--
ABBN SW	Abb Ltd	0.82	BBG000DM2M32	115,969	Stock	11,075,775	--
JCI	Johnson Controls International Plc	0.81	BBG000BVWLJ6	77,093	Stock	11,009,651	--
DTM	Dt Midstream Inc	0.81	BBG0112Z58J3	84,221	Stock	10,907,462	--
URI	United Rentals Inc	0.79	BBG000BXMFC3	10,807	Stock	10,688,988	--
KEY CN	Keyera Corp	0.78	BBG000BMT0R7	265,761	Stock	10,605,824	--
NSC	Norfolk Southern Corp	0.78	BBG000BQ5DS5	32,802	Stock	10,604,887	--
CAT	Caterpillar Inc	0.75	BBG000BF0K17	12,606	Stock	10,147,830	--
SLB	Schlumberger Nv	0.75	BBG000BT41Q8	180,339	Stock	10,100,787	--
AEP	American Electric Power Co Inc	0.74	BBG000BB9KF2	81,545	Stock	10,068,361	--
PH	Parker-Hannifin Corp	0.71	BBG000BR3KL6	10,236	Stock	9,563,904	--
ETR	Entergy Corp	0.70	BBG000C1FQS9	89,388	Stock	9,450,993	--
TT	Trane Technologies Plc	0.68	BBG000BM6788	20,901	Stock	9,192,887	--
HWM	Howmet Aerospace Inc	0.66	BBG00DYNJGH9	39,277	Stock	8,951,621	--
STLD	Steel Dynamics Inc	0.63	BBG000HGYNZ9	36,083	Stock	8,554,558	--
AROC	Archrock Inc	0.63	BBG000RWH1V4	261,894	Stock	8,474,890	--
CRH	Crh Plc	0.62	BBG000D3JXM1	95,328	Stock	8,356,452	--
BKR	Baker Hughes Co	0.61	BBG00GBVBK51	139,063	Stock	8,260,342	--
KGS	Kodiak Gas Services Inc	0.60	BBG01G4G6XV0	129,961	Stock	8,122,563	--
IBE SM	Iberdrola Sa	0.57	BBG000BC49N1	330,378	Stock	7,672,835	--
FCX	Freeport-Mcmoran Inc	0.56	BBG000BJDB15	105,703	Stock	7,527,111	--
PRY IM	Prysmian Spa	0.56	BBG000R58W81	52,801	Stock	7,519,940	--
CENX	Century Aluminum Co	0.56	--	169,476	Stock	7,517,955	--
NUE	Nucor Corp	0.55	BBG000BQ8KV2	28,890	Stock	7,380,239	--
AU	Anglogold Ashanti Plc	0.54	BBG01HGVLP51	70,509	Stock	7,324,475	--
PSA	Public Storage	0.54	BBG000BPPN67	24,674	Stock	7,268,960	--
BAS GR	Basf Se	0.52	BBG000BBVT77	113,005	Stock	7,013,544	--
CTVA	Corteva Inc	0.50	BBG00BN969C1	80,526	Stock	6,803,642	--
SHEL	Shell Plc	0.50	BBG0147BN6G2	70,758	Stock	6,789,938	--
CCO CN	Cameco Corp	0.48	BBG000BXYMJ8	66,128	Stock	6,451,302	--
AEM	Agnico Eagle Mines Ltd	0.48	BBG000DLVDK3	32,747	Stock	6,440,680	--
DE	Deere & Co	0.48	BBG000BH1NH9	9,495	Stock	6,437,040	--
D	Dominion Energy Inc	0.47	BBG000BGVW60	98,740	Stock	6,423,037	--
CF	Cf Industries Holdings Inc	0.47	BBG000BWJFZ4	46,970	Stock	6,346,117	--
ATI	Ati Inc	0.47	BBG000LC1FS4	31,660	Stock	6,300,340	--
TPL	Texas Pacific Land Corp	0.47	BBG00YRJXKB1	17,190	Stock	6,293,259	--
CVX	Chevron Corp	0.46	BBG000K4ND22	29,480	Stock	6,272,165	--
XEL	Xcel Energy Inc	0.44	BBG000BCTQ65	78,991	Stock	5,956,711	--
CRS	Carpenter Technology Corp	0.44	BBG000BGCQT9	13,226	Stock	5,928,555	--
VST	Vistra Corp	0.44	BBG00DXDL6Q1	40,074	Stock	5,892,882	--
BAYN GR	Bayer Ag	0.42	BBG000BBWDG1	101,531	Stock	5,722,253	--
KAP LI	Nac Kazatomprom Jsc	0.42	BBG00MJM7K82	79,647	Stock	5,681,133	--
GE	General Aerospace Co	0.40	BBG000BK6MB5	16,755	Stock	5,431,133	--
EVRG	Evergy Inc	0.39	BBG00H433CR2	65,563	Stock	5,334,206	--
DML CN	Denison Mines Corp	0.39	BBG000BVXRC9	1,622,233	Stock	5,247,210	--
BWXT	Bwx Technologies Inc	0.39	BBG000D86F25	34,225	Stock	5,218,970	--
GEV	Ge Vernova Llc	0.38	BBG013G17W31	5,552	Stock	5,129,548	--
STRL	Sterling Infrastructure Inc	0.38	BBG000JD6TN5	10,554	Stock	5,117,212	--
SIE GR	Siemens Ag	0.38	BBG000BCCRV3	17,076	Stock	5,096,313	--
VTR	Ventas Inc	0.38	BBG000FRVHB9	56,127	Stock	5,076,126	--
NI	Nisource Inc	0.36	BBG000BPZBB6	118,702	Stock	4,916,637	--
RTX	Rtx Corp	0.36	BBG000BW8S60	24,740	Stock	4,901,489	--
UEC	Uranium Energy Corp	0.35	BBG000LCK3Q2	426,366	Stock	4,698,553	--
FRES LN	Fresnillo Plc	0.33	BBG000VH0TC0	113,147	Stock	4,508,394	--
FIX	Comfort Systems Usa Inc	0.33	BBG000BWN2Y9	2,832	Stock	4,505,174	--
NVT	Nvent Electric Plc	0.33	BBG00GNT7999	28,487	Stock	4,420,328	--
5803 JP	Fujikura Ltd	0.32	BBG000BB8TW5	133,100	Stock	4,385,193	--
EFR CN	Energy Fuels Inc/Canada	0.32	BBG000BXQSW9	318,782	Stock	4,348,233	--
BHP	Bhp Group Ltd	0.32	BBG000BD5NZ4	49,237	Stock	4,300,852	--
ENR GR	Siemens Energy Ag	0.31	BBG00XLWSW57	25,896	Stock	4,211,240	--
AGX	Argan Inc	0.31	BBG000K4J3T0	10,469	Stock	4,149,179	--
MTZ	Mastec Inc	0.31	BBG000DYXD23	17,861	Stock	4,147,324	--
6503 JP	Mitsubishi Electric Corp	0.29	BBG000BGHX91	123,000	Stock	3,977,861	--
402340 KS	Sk Square Co Ltd	0.29	BBG011CLDZ86	4,957	Stock	3,950,019	--
POWL	Powell Industries Inc	0.28	--	21,246	Stock	3,758,205	--
OKLO	Oklo Inc	0.27	BBG0112CBLW3	91,847	Stock	3,662,858	--
010120 KS	Ls Industrial Systems Co Ltd	0.27	--	24,556	Stock	3,634,328	--
DY	Dycom Industries Inc	0.26	--	11,712	Stock	3,465,932	--
NWPX	Nwpx Infrastructure Inc	0.25	BBG000FLVLF9	32,617	Stock	3,380,100	--
BE	Bloom Energy Corp	0.25	BBG000N7KBZ3	13,022	Stock	3,366,057	--
KGC	Kinross Gold Corp	0.25	BBG000BB2DM7	115,985	Stock	3,355,446	--
VRT	Vertiv Holdings Co	0.25	BBG00L2B8KW8	13,425	Stock	3,331,145	--
ESS	Essex Property Trust Inc	0.24	BBG000CGJMB9	12,129	Stock	3,291,447	--
GMEXICOB MF	Grupo Mexico Sab De Cv	0.24	BBG000BQC9K4	253,485	Stock	3,262,122	--
PAGP	Plains Gp Holdings Lp	0.24	BBG000TBYFR3	114,279	Stock	3,187,241	--
OHI	Omega Healthcare Investors Inc	0.22	BBG000BGBTC2	64,795	Stock	3,042,125	--
SUI	Sun Communities Inc	0.21	BBG000BLJWF3	25,224	Stock	2,898,994	--
RIO AU	Rio Tinto Ltd	0.21	BBG000BYLWT7	22,647	Stock	2,793,265	--
298040 KS	Hyosung Heavy Industries Corp	0.20	--	1,327	Stock	2,760,850	--
DSV CN	Discovery Mining Ltd	0.20	BBG000BS3HY7	305,324	Stock	2,739,620	--
PAAS	Pan American Silver Corp	0.20	BBG000C0RGY3	52,251	Stock	2,646,513	--
CTRE	Caretrust REIT Inc	0.18	BBG005KC4Z70	64,127	Stock	2,489,410	--
ENB CN	Enbridge Inc	0.18	BBG000C7P7N2	50,932	Stock	2,459,714	--
LUN CN	Lundin Mining Corp	0.18	BBG000K1XDF3	96,992	Stock	2,421,378	--
IAG	Iamgold Corp	0.18	BBG000LL9LQ5	120,454	Stock	2,419,921	--
GMIN CN	G Mining Ventures Corp	0.17	BBG01NT389N7	62,666	Stock	2,306,301	--
MYRG	Myr Group Inc/Delaware	0.17	--	7,880	Stock	2,241,624	--
5801 JP	Furukawa Electric Co Ltd	0.16	BBG000BB67V6	84,300	Stock	2,177,208	--
AG	First Majestic Silver Corp	0.16	BBG000CH7WB8	107,939	Stock	2,174,971	--
PE&OLES* MF	Industrias Penoles Sab De Cv	0.16	BBG000LXSKQ0	40,354	Stock	2,137,022	--
3750 HK	Contemporary Amperex Technology Co Ltd	0.16	BBG01TYB8S12	29,600	Stock	2,096,796	--
OGC CN	Oceanagold Corp	0.15	BBG000RG1PM3	68,195	Stock	2,045,431	--
ARIS CN	Aris Mining Corp	0.15	BBG000CXNF22	103,439	Stock	2,008,226	--
5802 JP	Sumitomo Electric Industries Ltd	0.14	BBG000BLBD45	138,500	Stock	1,846,232	--
ENLT IT	Enlight Renewable Energy Ltd	0.14	BBG000NQKK36	24,876	Stock	1,831,038	--
DHC	Diversified Healthcare Trust	0.13	BBG000BM2GS0	240,335	Stock	1,812,126	--
UAMY	United States Antimony Corp	0.13	BBG000F3M1Q1	360,140	Stock	1,775,490	--
NXT	Nextpower Inc	0.12	BBG00835TPZ2	19,113	Stock	1,554,843	--
NGL	Ngl Energy Partners Lp	0.10	BBG001J1BNY4	75,300	Stock	1,330,551	--
GLDM	SPDR Gold MiniShares Trust	0.04	BBG00L8YYP89	5,936	Stock	507,587	--
IAU	iShares Gold Trust	0.04	BBG000QLKDR4	6,194	Stock	503,386	--
-USD CASH-	--	0.84	--	11,365,593	Cash Bal	11,365,593	--
-KRW CASH-	--	0.00	--	990	Cash Bal	1	--
-EUR CASH-	--	0.00	--	471	Cash Bal	548	--
-CAD CASH-	--	0.00	--	0	Cash Bal	0	--
--	Other/Cash	0.05	--	0	Cash	641,892	--

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These are not recommendations to buy or to sell any security. Securities and holdings will vary at times. The holdings presented reflect unsettled trade activity from creation and/or redemption transactions from the prior business day and may differ from the holdings information used to calculate the Fund's net asset value. The adjusted shares outstanding is 32,675,000. This includes any changes in shares outstanding due to creations or redemptions on the previous business day, and may differ from the information used to calculate the fund's net asset value.

Portfolio

Distributions

Distribution History

Year	Ex-date	Record Date	Payable date	Dividend Income^‡	Short-Term Capital Gains	Long-Term Capital Gains	Return of Capital	Total Distributions
2025	12/29/2025	12/29/2025	12/31/2025	$ 0.8163	--	--	--	$ 0.82
2024	12/27/2024	12/27/2024	12/30/2024	$ 0.5397	--	--	--	$ 0.54
2023	12/27/2023	12/28/2023	12/29/2023	$ 0.9357	--	--	--	$ 0.94
2022	12/28/2022	12/29/2022	12/30/2022	$ 0.3784	--	--	--	$ 0.38
2021	12/29/2021	12/30/2021	12/31/2021	$ 2.1633	--	--	--	$ 2.16
2020	12/29/2020	12/30/2020	01/05/2021	$ 1.3920	--	--	--	$ 1.39
2019	12/23/2019	12/24/2019	12/30/2019	$ 0.6087	--	--	--	$ 0.61
2018	12/20/2018	12/21/2018	12/27/2018	$ 0.1390	--	--	--	$ 0.14

^‡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.

Click here to access more detailed yearend tax information