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MBBB VanEck Moody’s Analytics BBB Corporate Bond ETF Please read important disclosure Close important disclosure Show More Show Less Compare false

MBBB
VanEck Moody’s Analytics BBB Corporate Bond ETF

MBBB
VanEck Moody’s Analytics BBB Corporate Bond ETF

  • NAV
    $20.85

    as of September 04, 2026
  • YTD RETURNS
    -0.41%

    as of September 04, 2026
  • Total Net Assets
    $4.69M

    as of September 04, 2026
  • Total Expense Ratio
    0.25%
  • Inception Date
    12/01/2020
  • 30-Day SEC Yield
    5.44%
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Overview

Why MBBB

  • Valuation-Driven Bond SelectionInvests in attractively valued bonds
  • Quantitative ApproachIncorporates market-based information
  • Powered by Moody’s AnalyticsMoody’s Analytics credit risk platform informs security selection

VanEck Moody’s Analytics® BBB Corporate Bond ETF seeks to track, as closely as possible, before fees and expenses, the price and yield performance of the MVIS® Moody’s Analytics® US BBB Corporate Bond Index, which includes BBB rated corporate bonds that have attractive valuations and a lower probability of being downgraded to high yield compared to other BBB rated bonds.

Yields  as of  09/04/2026

Distribution Frequency

Monthly

30-Day SEC Yield

5.44%

Distribution Yield

5.20%

12 Month Yield

5.20%

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 Moody’s Analytics BBB Corporate Bond ETF would have been 5.44% on 09/04/26. 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 12/01/20
MBBB (NAV) 0.37 -1.03 -0.21 1.69 5.66 0.54 -- 0.98
MBBB (Market Price) 0.40 -1.05 -0.40 1.49 5.61 0.48 -- 0.95
MVIS Moody's Analytics US BBB Corporate Bond Index 0.41 -1.03 -0.05 1.95 5.87 0.64 -- 1.08
ICE BofA BBB US Corporate Index 0.47 -0.84 0.21 2.49 5.84 0.48 -- --
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 12/01/20
MBBB (NAV) 0.06 1.51 0.89 3.89 6.06 0.96 -- 1.20
MBBB (Market Price) 0.12 1.27 0.78 3.81 5.96 0.91 -- 1.20
MVIS Moody's Analytics US BBB Corporate Bond Index 0.09 1.61 1.08 4.18 6.32 1.07 -- 1.32
ICE BofA BBB US Corporate Index 0.18 1.72 1.24 4.91 6.18 0.89 -- --

*Returns less than one year are not annualized.

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 09/03/2026

Download XLS Get holdings
Total Holdings: 155
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
At&T Inc
1.98
 3.550
09/15/2055
93,022
Medline Borrower Lp
1.57
 3.875
04/01/2029
73,807
Capital One Financial Corp
1.56
 5.197
09/11/2036
73,313
Vici Properties Lp / Vici Note Co Inc
1.52
 4.125
08/15/2030
71,356
Verizon Communications Inc
1.40
 2.355
03/15/2032
65,663
Verizon Communications Inc
1.40
 1.750
01/20/2031
65,653
Pacific Gas And Electric Co
1.33
 4.500
07/01/2040
62,501
Altria Group Inc
1.18
 3.400
02/04/2041
55,398
Vistra Operations Co Llc
1.16
 6.950
10/15/2033
54,568
Mcdonald's Corp
1.15
 6.300
10/15/2037
54,060
Capital One Financial Corp
1.12
 6.377
06/08/2034
52,628
Citigroup Inc
1.08
 6.020
01/24/2036
50,511
Citigroup Inc
1.07
 5.827
02/13/2035
49,962
Oracle Corp
1.07
 4.125
05/15/2045
49,949
At&T Inc
1.05
 4.750
04/30/2033
49,427
Kroger Co/The
1.05
 5.000
09/15/2034
49,379
At&T Inc
1.05
 4.300
02/15/2030
49,038
Societe Generale Sa
1.04
 5.439
10/03/2036
48,943
T-Mobile Usa Inc
1.03
 2.050
02/15/2028
48,261
Equinix Inc
1.00
 3.900
04/15/2032
46,968
Societe Generale Sa
0.99
 3.000
01/22/2030
46,577
Mplx Lp
0.97
 2.650
08/15/2030
45,724
Mcdonald's Corp
0.97
 2.125
03/01/2030
45,648
T-Mobile Usa Inc
0.96
 2.550
02/15/2031
44,877
Societe Generale Sa
0.96
 3.337
01/21/2033
44,825
Pacific Gas And Electric Co
0.95
 2.500
02/01/2031
44,430
Mcdonald's Corp
0.93
 4.875
12/09/2045
43,813
Kraft Heinz Foods Co
0.93
 5.200
07/15/2045
43,657
Altria Group Inc
0.93
 2.450
02/04/2032
43,553
Hca Inc
0.93
 5.250
06/15/2049
43,413
Oracle Corp
0.89
 5.375
07/15/2040
41,607
Pacific Gas And Electric Co
0.86
 4.950
07/01/2050
40,467
Charter Communications Operating Llc /
0.85
 3.950
06/30/2062
39,933
Altria Group Inc
0.85
 4.250
08/09/2042
39,912
Kraft Heinz Foods Co
0.84
 4.375
06/01/2046
39,325
Verizon Communications Inc
0.81
 3.400
03/22/2041
37,911
Alimentation Couche-Tard Inc
0.76
 3.800
01/25/2050
35,467
Oracle Corp
0.68
 4.375
05/15/2055
31,927
Oracle Corp
0.68
 4.000
07/15/2046
31,926
At&T Inc
0.67
 3.500
09/15/2053
31,197
Oracle Corp
0.66
 3.950
03/25/2051
30,947
Sprint Capital Corp
0.64
 8.750
03/15/2032
29,986
Orange Sa
0.61
 9.000
03/01/2031
28,724
Var Energi Asa
0.61
 8.000
11/15/2032
28,485
Suncor Energy Inc
0.59
 6.850
06/01/2039
27,497
Fox Corp
0.57
 6.500
10/13/2033
26,900
J M Smucker Co/The
0.57
 6.200
11/15/2033
26,662
Sprint Capital Corp
0.57
 6.875
11/15/2028
26,592
Hsbc Holdings Plc
0.57
 6.500
09/15/2037
26,544
Sysco Corp
0.56
 5.950
04/01/2030
26,237
Enbridge Inc
0.56
 5.700
03/08/2033
26,118
Citigroup Inc
0.55
 6.174
05/25/2034
25,982
Tyson Foods Inc
0.55
 5.700
03/15/2034
25,899
Bank Of Montreal
0.55
 7.300
11/26/2084
25,864
Enbridge Inc
0.55
 5.625
04/05/2034
25,793
Pacific Gas And Electric Co
0.55
 6.150
01/15/2033
25,742
Societe Generale Sa
0.55
 6.446
01/10/2029
25,722
Itc Holdings Corp
0.55
 4.950
09/22/2027
25,680
Teva Pharmaceutical Finance Netherlands
0.55
 6.750
03/01/2028
25,611
Credit Agricole Sa
0.55
 6.251
01/10/2035
25,607
Marriott International Inc/Md
0.54
 4.900
04/15/2029
25,513
Canadian Imperial Bank Of Commerce
0.54
 7.000
10/28/2085
25,511
Orlen Sa
0.54
 6.000
01/30/2035
25,507
Westinghouse Air Brake Technologies Cor
0.54
 4.950
09/15/2028
25,486
Citigroup Inc
0.54
 4.450
09/29/2027
25,426
Ares Capital Corp
0.54
 5.950
07/15/2029
25,395
Bnp Paribas Sa
0.54
 5.906
11/19/2035
25,306
Crh Smw Finance Dac
0.54
 5.125
01/09/2030
25,280
Marriott International Inc/Md
0.54
 5.350
03/15/2035
25,224
Sitios Latinoamerica Sab De Cv
0.54
 5.375
04/04/2032
25,199
Mplx Lp
0.54
 4.000
03/15/2028
25,183
Ares Capital Corp
0.54
 5.875
03/01/2029
25,173
Capital One Financial Corp
0.54
 6.183
01/30/2036
25,144
Motorola Solutions Inc
0.54
 4.600
05/23/2029
25,140
Stryker Corp
0.54
 4.250
09/11/2029
25,107
Mplx Lp
0.53
 5.400
04/01/2035
25,056
Augusta Spinco Corp
0.53
 4.656
03/23/2031
25,053
Altria Group Inc
0.53
 4.800
02/14/2029
25,035
Marriott International Inc/Md
0.53
 5.500
04/15/2037
24,960
Medline Borrower Lp/Medline Co-Issuer I
0.53
 5.000
06/15/2031
24,956
General Mills Inc
0.53
 4.950
03/29/2033
24,915
Glp Capital Lp / Glp Financing Ii Inc
0.53
 5.625
09/15/2034
24,889
Enel Finance International Nv
0.53
 3.500
04/06/2028
24,880
Reliance Industries Ltd
0.53
 3.667
11/30/2027
24,878
Mplx Lp
0.53
 5.300
04/01/2036
24,870
First Citizens Bancshares Inc/Nc
0.53
 6.254
03/12/2040
24,861
O'Reilly Automotive Inc
0.53
 3.600
09/01/2027
24,784
Keurig Dr Pepper Inc
0.53
 3.950
04/15/2029
24,768
Lpl Holdings Inc
0.53
 4.000
03/15/2029
24,731
Hca Inc
0.53
 4.125
06/15/2029
24,725
Vici Properties Lp
0.53
 5.125
05/15/2032
24,673
Dt Midstream Inc
0.53
 4.125
06/15/2029
24,635
General Mills Inc
0.52
 5.250
01/30/2035
24,621
Mplx Lp
0.52
 5.000
01/15/2033
24,605
Pacific Gas And Electric Co
0.52
 3.750
07/01/2028
24,604
Weyerhaeuser Co
0.52
 4.000
11/15/2029
24,569
Royal Bank Of Canada
0.52
 6.500
05/24/2086
24,526
Mplx Lp
0.52
 4.950
09/01/2032
24,505
International Flavors & Fragrances Inc
0.52
 1.832
10/15/2027
24,436
Msci Inc
0.52
 4.000
11/15/2029
24,408
T-Mobile Usa Inc
0.52
 3.875
04/15/2030
24,380
Cheniere Corpus Christi Holdings Llc
0.52
 3.700
11/15/2029
24,375
Gfl Environmental Inc
0.52
 3.500
09/01/2028
24,374
Royalty Pharma Plc
0.52
 1.750
09/02/2027
24,344
Roper Technologies Inc
0.52
 5.100
09/15/2035
24,339
Pacific Gas And Electric Co
0.52
 3.000
06/15/2028
24,329
Ares Capital Corp
0.52
 2.875
06/15/2028
24,169
Bank Of Nova Scotia/The
0.51
 4.588
05/04/2037
24,103
Vistra Operations Co Llc
0.51
 5.350
01/31/2036
24,063
Alcon Finance Corp
0.51
 3.000
09/23/2029
23,980
Blue Owl Capital Corp
0.51
 2.875
06/11/2028
23,957
Enel Finance International Nv
0.51
 2.125
07/12/2028
23,897
Constellation Brands Inc
0.51
 3.150
08/01/2029
23,889
Equinix Inc
0.51
 3.200
11/18/2029
23,883
Royal Bank Of Canada
0.51
 6.350
11/24/2084
23,879
Prosus Nv
0.51
 3.680
01/21/2030
23,859
Keurig Dr Pepper Inc
0.51
 4.050
04/15/2032
23,823
Altria Group Inc
0.50
 5.950
02/14/2049
23,585
T-Mobile Usa Inc
0.50
 4.700
01/15/2035
23,570
Broadridge Financial Solutions Inc
0.50
 2.900
12/01/2029
23,554
Credit Agricole Sa
0.50
 3.250
01/14/2030
23,452
Conagra Brands Inc
0.50
 5.300
11/01/2038
23,414
Athene Holding Ltd
0.49
 6.250
04/01/2054
23,080
Marriott International Inc/Md
0.49
 3.500
10/15/2032
22,954
Marriott International Inc/Md
0.49
 2.850
04/15/2031
22,937
Lowe's Cos Inc
0.49
 2.625
04/01/2031
22,813
Verizon Communications Inc
0.49
 2.550
03/21/2031
22,767
Mondelez International Inc
0.49
 3.000
03/17/2032
22,756
Costar Group Inc
0.48
 2.800
07/15/2030
22,488
Equinix Inc
0.48
 2.150
07/15/2030
22,379
Tyson Foods Inc
0.47
 5.100
09/28/2048
22,127
Canadian Pacific Railway Co
0.47
 2.450
12/02/2031
22,094
Lowe's Cos Inc
0.47
 1.700
10/15/2030
22,087
Hca Inc
0.47
 2.375
07/15/2031
22,043
T-Mobile Usa Inc
0.47
 2.250
11/15/2031
21,835
Roper Technologies Inc
0.46
 1.750
02/15/2031
21,549
Capital One Financial Corp
0.46
 2.359
07/29/2032
21,529
T-Mobile Usa Inc
0.46
 4.375
04/15/2040
21,497
Citigroup Inc
0.44
 4.750
05/18/2046
20,839
Mcdonald's Corp
0.43
 4.450
09/01/2048
20,069
Kroger Co/The
0.43
 4.450
02/01/2047
19,953
Keurig Dr Pepper Inc
0.42
 4.500
04/15/2052
19,787
Wsp Global Inc
0.42
 5.714
09/18/2036
19,782
Oracle Corp
0.39
 5.500
09/27/2064
18,494
Infraestructura Energetica Nova Sapi De
0.39
 4.750
01/15/2051
18,479
Societe Generale Sa
0.39
 4.027
01/21/2043
18,455
T-Mobile Usa Inc
0.38
 3.000
02/15/2041
17,612
Keurig Dr Pepper Inc
0.37
 3.800
05/01/2050
17,478
Bnp Paribas Sa
0.37
 2.824
01/26/2041
17,339
International Flavors & Fragrances Inc
0.36
 3.468
12/01/2050
16,764
At&T Inc
0.34
 3.850
06/01/2060
15,885
T-Mobile Usa Inc
0.34
 3.400
10/15/2052
15,716
T-Mobile Usa Inc
0.33
 3.300
02/15/2051
15,388
Lowe's Cos Inc
0.33
 3.000
10/15/2050
15,242
--
0.08
 --
--
3,710
Other/Cash
-0.01
 --
--
-675
← Scroll for more information →
Country of risk is defined using the International Organization for Standardization’s (ISO) country codes which take four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the CEO, CFO, COO or General Counsel is otherwise.

Portfolio

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

  • Country

    % of Net Assets

  • United States

    81.01

  • France

    6.49

  • Canada

    6.06

  • United Kingdom

    1.10

  • Netherlands

    1.01

  • Mexico

    0.93

  • Norway

    0.60

  • Poland

    0.54

  • Ireland

    0.54

  • Italy

    0.53

  • India

    0.53

  • Other/Cash

    0.66

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

Composite % of Net Assets
Investment Grade A 0.54
BBB 92.92
Non-Investment Grade BB 5.88
Total Investment Grade -- 93.46
Total Non-Investment Grade -- 5.88
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

    1.00

  • 1 - 3

    16.90

  • 3 - 5

    20.00

  • 5 - 7

    13.20

  • 7 - 10

    15.10

  • 10 - 15

    12.40

  • 15 - 20

    6.10

  • 20 - 30

    11.40

  • 30 +

    3.50

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 $ 0.0903 -- -- -- $ 0.09
08/03/2026 08/03/2026 08/06/2026 $ 0.0921 -- -- -- $ 0.09
07/01/2026 07/01/2026 07/07/2026 $ 0.0884 -- -- -- $ 0.09
06/01/2026 06/01/2026 06/04/2026 $ 0.1055 -- -- -- $ 0.11
05/01/2026 05/01/2026 05/06/2026 $ 0.0861 -- -- -- $ 0.09
04/01/2026 04/01/2026 04/07/2026 $ 0.0971 -- -- -- $ 0.10
03/02/2026 03/02/2026 03/05/2026 $ 0.0797 -- -- -- $ 0.08
02/02/2026 02/02/2026 02/05/2026 $ 0.0887 -- -- -- $ 0.09
12/29/2025 12/29/2025 12/31/2025 $ 0.0914 -- -- -- $ 0.09
11/28/2025 11/28/2025 12/03/2025 $ 0.0858 -- -- -- $ 0.09
11/03/2025 11/03/2025 11/06/2025 $ 0.0921 -- -- -- $ 0.09
10/01/2025 10/01/2025 10/06/2025 $ 0.0865 -- -- -- $ 0.09
09/02/2025 09/02/2025 09/05/2025 $ 0.0893 -- -- -- $ 0.09
08/01/2025 08/01/2025 08/06/2025 $ 0.0924 -- -- -- $ 0.09
07/01/2025 07/01/2025 07/07/2025 $ 0.0869 -- -- -- $ 0.09
06/02/2025 06/02/2025 06/05/2025 $ 0.0915 -- -- -- $ 0.09
05/01/2025 05/01/2025 05/06/2025 $ 0.0866 -- -- -- $ 0.09
04/01/2025 04/01/2025 04/04/2025 $ 0.0974 -- -- -- $ 0.10
03/03/2025 03/03/2025 03/06/2025 $ 0.0904 -- -- -- $ 0.09
02/03/2025 02/03/2025 02/06/2025 $ 0.0909 -- -- -- $ 0.09
12/27/2024 12/27/2024 12/30/2024 $ 0.0898 -- -- -- $ 0.09
12/02/2024 12/02/2024 12/05/2024 $ 0.0854 -- -- -- $ 0.09
11/01/2024 11/01/2024 11/06/2024 $ 0.0879 -- -- -- $ 0.09
10/01/2024 10/01/2024 10/04/2024 $ 0.0863 -- -- -- $ 0.09
09/03/2024 09/03/2024 09/06/2024 $ 0.0894 -- -- -- $ 0.09
08/01/2024 08/01/2024 08/06/2024 $ 0.0913 -- -- -- $ 0.09
07/01/2024 07/01/2024 07/05/2024 $ 0.0881 -- -- -- $ 0.09
06/03/2024 06/03/2024 06/06/2024 $ 0.0903 -- -- -- $ 0.09
05/01/2024 05/02/2024 05/07/2024 $ 0.0846 -- -- -- $ 0.08
04/01/2024 04/02/2024 04/05/2024 $ 0.0906 -- -- -- $ 0.09
03/01/2024 03/04/2024 03/07/2024 $ 0.0795 -- -- -- $ 0.08
02/01/2024 02/02/2024 02/07/2024 $ 0.0809 -- -- -- $ 0.08
12/27/2023 12/28/2023 12/29/2023 $ 0.0916 -- -- -- $ 0.09
12/01/2023 12/04/2023 12/07/2023 $ 0.0809 -- -- -- $ 0.08
11/01/2023 11/02/2023 11/07/2023 $ 0.0816 -- -- -- $ 0.08
10/02/2023 10/03/2023 10/06/2023 $ 0.0785 -- -- -- $ 0.08
09/01/2023 09/05/2023 09/08/2023 $ 0.0810 -- -- -- $ 0.08
08/01/2023 08/02/2023 08/10/2023 $ 0.0827 -- -- -- $ 0.08
07/03/2023 07/05/2023 07/07/2023 $ 0.0817 -- -- -- $ 0.08
06/01/2023 06/02/2023 06/07/2023 $ 0.0844 -- -- -- $ 0.08
05/01/2023 05/02/2023 05/05/2023 $ 0.0747 -- -- -- $ 0.07
04/03/2023 04/04/2023 04/10/2023 $ 0.0855 -- -- -- $ 0.09
03/01/2023 03/02/2023 03/07/2023 $ 0.0680 -- -- -- $ 0.07
02/01/2023 02/02/2023 02/07/2023 $ 0.0766 -- -- -- $ 0.08
12/28/2022 12/29/2022 12/30/2022 $ 0.0711 -- -- -- $ 0.07
12/01/2022 12/02/2022 12/07/2022 $ 0.0660 -- -- -- $ 0.07
11/01/2022 11/02/2022 11/07/2022 $ 0.0640 -- -- -- $ 0.06
10/03/2022 10/04/2022 10/07/2022 $ 0.0569 -- -- -- $ 0.06
09/01/2022 09/02/2022 09/08/2022 $ 0.0585 -- -- -- $ 0.06
08/01/2022 08/02/2022 08/05/2022 $ 0.0586 -- -- -- $ 0.06
07/01/2022 07/05/2022 07/08/2022 $ 0.0442 -- -- -- $ 0.04
06/01/2022 06/02/2022 06/07/2022 $ 0.0501 -- -- -- $ 0.05
05/02/2022 05/03/2022 05/06/2022 $ 0.0499 -- -- -- $ 0.05
04/01/2022 04/04/2022 04/07/2022 $ 0.0493 -- -- -- $ 0.05
03/01/2022 03/02/2022 03/07/2022 $ 0.0436 -- -- -- $ 0.04
02/01/2022 02/02/2022 02/07/2022 $ 0.0480 -- -- -- $ 0.05
12/29/2021 12/30/2021 12/31/2021 $ 0.0464 -- -- -- $ 0.05
12/01/2021 12/02/2021 12/07/2021 $ 0.0489 -- -- -- $ 0.05
11/01/2021 11/02/2021 11/05/2021 $ 0.0505 -- -- -- $ 0.05
10/01/2021 10/04/2021 10/07/2021 $ 0.0473 -- -- -- $ 0.05
09/01/2021 09/02/2021 09/08/2021 $ 0.0448 -- -- -- $ 0.04
08/02/2021 08/03/2021 08/06/2021 $ 0.0452 -- -- -- $ 0.05
07/01/2021 07/02/2021 07/08/2021 $ 0.0463 -- -- -- $ 0.05
06/01/2021 06/02/2021 06/07/2021 $ 0.0486 -- -- -- $ 0.05
05/03/2021 05/04/2021 05/07/2021 $ 0.0480 -- -- -- $ 0.05
04/01/2021 04/05/2021 04/08/2021 $ 0.0469 -- -- -- $ 0.05
03/01/2021 03/02/2021 03/05/2021 $ 0.0451 -- -- -- $ 0.05
02/01/2021 02/02/2021 02/05/2021 $ 0.0500 -- -- -- $ 0.05
12/29/2020 12/30/2020 01/05/2021 $ 0.0470 -- -- -- $ 0.05

‡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

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