Municipal Bond ETF Portfolio Manager Transition Plans FAQ
May 09, 2024
Read Time 2 MIN
- Is Municipal Bond Portfolio Manager Jim Colby retiring?
- Who will serve as the Funds’ new portfolio manager?
- Who is on the Investment Team and what are their roles before and after the transition?
- How does Ms. Wang’s promotion to Portfolio Manager change her role or her responsibilities?
- How will elements of the Funds’ investment process differ with Ms. Wang as Portfolio Manager?
Is Municipal Bond Portfolio Manager Jim Colby retiring?
No, Jim is stepping down from his role as Portfolio Manager for the VanEck Short Muni ETF (SMB), VanEck Intermediate Muni ETF (ITM), VanEck Long Muni ETF (MLN), VanEck Short High Yield Muni ETF (SHYD), and VanEck High Yield Muni ETF (HYD), effective July 1, 2024. He will continue to be a key part of the team as Senior Municipal Strategist following the transition.
Who will serve as the Funds’ new Portfolio Manager?
Effective July 1, 2024, the Funds’ current Deputy Portfolio Manager, Stephanie Wang, CFA, will assume the role of Portfolio Manager.
Stephanie's transition to Portfolio Manager is a natural step forward in her career, reflecting her increasing involvement and expanding responsibilities in overseeing the management of the Funds. Her leadership is anticipated to further enhance the performance of the Funds, while remaining aligned with investor objectives.
Stephanie has played a vital role within the Municipal Fixed Income Investment Team since 2016, when she began her career at VanEck as a Quantitative Analyst specializing in both tax-exempt and taxable fixed income. With almost eight years of industry expertise, her portfolio management capabilities and insights are strengthened by her academic qualifications, including an MS and BBA from Baruch College.
Who is on the Investment Team and what are their roles before and after the change?
| Team Member | Role Prior to July 1, 2024 | Role as of July 1, 2024 |
| Fran Rodilosso | Head of Fixed Income ETF Portfolio Management | Head of Fixed Income ETF Portfolio Management |
| Jim Colby | Portfolio Manager and Senior Municipal Strategist | Senior Municipal Strategist |
| Stephanie Wang | Deputy Portfolio Manager (tax-exempts) | Portfolio Manager (tax-exempts) |
| Tamara Lowin | Senior Credit Analyst (tax-exempts) | Senior Credit Analyst (tax-exempts) |
| Daniel Cho | Associate Portfolio Manager (taxables) | Associate Portfolio Manager (taxables) |
| Jared Model | Senior Trader | Senior Trader |
| Tucker van Eck | Portfolio Management Associate | Portfolio Management Associate |
How does Stephanie’s promotion to Portfolio Manager change her role and responsibilities?
Stephanie’s promotion to Portfolio Manager significantly expands her responsibilities. Her role will shift from providing critical support to all aspects of the portfolio management process to leading the Funds’ strategic direction and investment decisions, aligning with each Fund’s respective investment objective.
How will elements of the Funds’ investment processes differ with Ms. Wang as Portfolio Manager?
There are no proposed changes to the Funds’ principal investment strategies.
The Funds will continue to seek to replicate as closely as possible, before fees and expenses, the price and yield performance of their respective indices, each of which are intended to track the overall performance of various segments of the U.S. dollar denominated tax-exempt bond market.
IMPORTANT DISCLOSURES
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third-party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.
An investment in the Funds may be subject to risks which include, but are not limited to, risks related to municipal securities, high yield securities, credit, interest rate, state, call, private activity bonds, industrial development bond, special tax bond, market, operational, sampling, index tracking, tax, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares and concentration risks, all of which may adversely affect the Funds. High-yield municipal bonds are subject to greater risk of loss of income and principal than higher-rated securities, and are likely to be more sensitive to adverse economic changes or individual municipal developments than those of higher-rated securities. Municipal bonds may be less liquid than taxable bonds. A portion of the dividends you receive may be subject to the federal alternative minimum tax (AMT). There is no guarantee that the Funds’ income will be exempt from federal, state or local income taxes, and changes in those tax rates or in alternative minimum tax rates or in the tax treatment of municipal bonds may make them less attractive as investments and cause them to lose value. Capital gains, if any, are subject to capital gains tax.
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 a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.
Related Funds
IMPORTANT DISCLOSURES
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third-party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.
An investment in the Funds may be subject to risks which include, but are not limited to, risks related to municipal securities, high yield securities, credit, interest rate, state, call, private activity bonds, industrial development bond, special tax bond, market, operational, sampling, index tracking, tax, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares and concentration risks, all of which may adversely affect the Funds. High-yield municipal bonds are subject to greater risk of loss of income and principal than higher-rated securities, and are likely to be more sensitive to adverse economic changes or individual municipal developments than those of higher-rated securities. Municipal bonds may be less liquid than taxable bonds. A portion of the dividends you receive may be subject to the federal alternative minimum tax (AMT). There is no guarantee that the Funds’ income will be exempt from federal, state or local income taxes, and changes in those tax rates or in alternative minimum tax rates or in the tax treatment of municipal bonds may make them less attractive as investments and cause them to lose value. Capital gains, if any, are subject to capital gains tax.
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 a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.