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

MBBB
VanEck Moody’s Analytics BBB Corporate Bond ETF

MBBB
VanEck Moody’s Analytics BBB Corporate Bond ETF

  • NAV
    $21.48

    as of June 29, 2026
  • YTD RETURNS
    1.29%

    as of June 29, 2026
  • Total Net Assets
    $4.83M

    as of June 29, 2026
  • Total Expense Ratio
    0.25%
  • Inception Date
    12/01/2020
  • 30-Day SEC Yield
    5.12%
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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  06/29/2026

Distribution Frequency

Monthly

30-Day SEC Yield

5.12%

Distribution Yield

5.89%

12 Month Yield

5.04%

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 5.12% on 06/29/26. 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) 0.80 -0.67 0.83 5.67 6.21 1.24 -- 1.21
MBBB (Market Price) 0.74 -0.74 0.66 5.59 6.13 1.22 -- 1.19
MVIS Moody's Analytics US BBB Corporate Bond Index 0.86 -0.51 1.00 5.97 6.49 1.37 -- 1.32
ICE BofA BBB US Corporate Index 0.81 -0.51 1.06 6.72 6.29 1.20 -- --
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 12/01/20
MBBB (NAV) -2.09 -0.61 -0.61 4.48 5.53 1.34 -- 0.98
MBBB (Market Price) -1.86 -0.48 -0.48 4.78 5.47 1.32 -- 1.01
MVIS Moody's Analytics US BBB Corporate Bond Index -2.01 -0.52 -0.52 4.73 5.79 1.46 -- 1.08
ICE BofA BBB US Corporate Index -2.02 -0.47 -0.47 5.15 5.59 1.29 -- --

*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 06/29/2026

Download XLS Get holdings
Total Holdings: 159
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
At&T Inc
2.07
 3.550
09/15/2055
99,840
At&T Inc
1.56
 4.300
02/15/2030
75,425
Capital One Financial Corp
1.55
 5.197
09/11/2036
74,679
Vici Properties Lp / Vici Note Co Inc
1.52
 4.125
08/15/2030
73,281
Pacific Gas And Electric Co
1.38
 4.500
07/01/2040
66,744
Verizon Communications Inc
1.38
 1.750
01/20/2031
66,706
Altria Group Inc
1.22
 3.400
02/04/2041
58,833
Mcdonald's Corp
1.15
 6.300
10/15/2037
55,422
Vistra Operations Co Llc
1.14
 6.950
10/15/2033
55,233
Capital One Financial Corp
1.10
 6.377
06/08/2034
53,310
Oracle Corp
1.10
 4.125
05/15/2045
53,195
Citigroup Inc
1.10
 6.020
01/24/2036
53,104
Citigroup Inc
1.08
 5.827
02/13/2035
52,332
Kroger Co/The
1.04
 5.000
09/15/2034
50,227
Societe Generale Sa
1.04
 5.439
10/03/2036
50,202
At&T Inc
1.04
 4.750
04/30/2033
50,156
T-Mobile Usa Inc
1.00
 2.050
02/15/2028
48,469
Societe Generale Sa
0.99
 3.000
01/22/2030
47,654
Mplx Lp
0.97
 2.650
08/15/2030
46,648
Mcdonald's Corp
0.96
 2.125
03/01/2030
46,405
Societe Generale Sa
0.96
 3.337
01/21/2033
46,376
Kraft Heinz Foods Co
0.96
 5.200
07/15/2045
46,231
T-Mobile Usa Inc
0.95
 2.550
02/15/2031
45,981
Mcdonald's Corp
0.95
 4.875
12/09/2045
45,740
Oracle Corp
0.94
 5.375
07/15/2040
45,645
Pacific Gas And Electric Co
0.94
 2.500
02/01/2031
45,541
Hca Inc
0.94
 5.250
06/15/2049
45,245
Altria Group Inc
0.92
 2.450
02/04/2032
44,672
Verizon Communications Inc
0.91
 2.355
03/15/2032
44,209
Pacific Gas And Electric Co
0.90
 4.950
07/01/2050
43,382
Altria Group Inc
0.88
 4.250
08/09/2042
42,411
Kraft Heinz Foods Co
0.84
 4.375
06/01/2046
40,570
Verizon Communications Inc
0.82
 3.400
03/22/2041
39,428
Alimentation Couche-Tard Inc
0.79
 3.800
01/25/2050
38,394
Oracle Corp
0.73
 4.000
07/15/2046
35,041
Oracle Corp
0.70
 4.375
05/15/2055
34,011
Oracle Corp
0.68
 3.950
03/25/2051
32,876
Sprint Capital Corp
0.62
 8.750
03/15/2032
30,194
Orange Sa
0.62
 9.000
03/01/2031
30,038
Var Energi Asa
0.59
 8.000
11/15/2032
28,742
Suncor Energy Inc
0.58
 6.850
06/01/2039
27,976
Hsbc Holdings Plc
0.57
 6.500
09/15/2037
27,322
Fox Corp
0.56
 6.500
10/13/2033
27,077
J M Smucker Co/The
0.56
 6.200
11/15/2033
26,979
Pacific Gas And Electric Co
0.56
 6.150
01/15/2033
26,928
Credit Agricole Sa
0.56
 6.251
01/10/2035
26,893
Orlen Sa
0.55
 6.000
01/30/2035
26,599
Sprint Capital Corp
0.55
 6.875
11/15/2028
26,445
Societe Generale Sa
0.55
 6.446
01/10/2029
26,408
Bank Of Montreal
0.55
 7.300
11/26/2084
26,399
Citigroup Inc
0.55
 6.174
05/25/2034
26,384
Capital One Financial Corp
0.55
 6.183
01/30/2036
26,358
Enbridge Inc
0.55
 5.700
03/08/2033
26,353
Sysco Corp
0.55
 5.950
04/01/2030
26,348
Tyson Foods Inc
0.54
 5.700
03/15/2034
26,256
Enbridge Inc
0.54
 5.625
04/05/2034
26,194
Crh Smw Finance Dac
0.54
 5.125
01/09/2030
25,999
Ares Capital Corp
0.54
 5.950
07/15/2029
25,978
Canadian Imperial Bank Of Commerce
0.54
 7.000
10/28/2085
25,929
Bnp Paribas Sa
0.53
 5.906
11/19/2035
25,786
Glp Capital Lp / Glp Financing Ii Inc
0.53
 5.300
01/15/2029
25,752
General Mills Inc
0.53
 5.250
01/30/2035
25,744
Marriott International Inc/Md
0.53
 5.350
03/15/2035
25,739
Ares Capital Corp
0.53
 5.875
03/01/2029
25,716
Marriott International Inc/Md
0.53
 5.500
04/15/2037
25,662
Altria Group Inc
0.53
 4.800
02/14/2029
25,591
Mplx Lp
0.53
 5.000
01/15/2033
25,525
Marriott International Inc/Md
0.53
 4.900
04/15/2029
25,508
Santander Holdings Usa Inc
0.53
 4.400
07/13/2027
25,494
Mplx Lp
0.53
 5.400
04/01/2035
25,456
Itc Holdings Corp
0.53
 4.950
09/22/2027
25,415
Westinghouse Air Brake Technologies Cor
0.53
 4.950
09/15/2028
25,384
Altria Group Inc
0.52
 5.950
02/14/2049
25,366
Mplx Lp
0.52
 4.950
09/01/2032
25,356
Mplx Lp
0.52
 5.300
04/01/2036
25,294
Citigroup Inc
0.52
 4.450
09/29/2027
25,265
Mcdonald's Corp
0.52
 3.500
07/01/2027
25,243
Glp Capital Lp / Glp Financing Ii Inc
0.52
 5.625
09/15/2034
25,233
Flutter Treasury Dac
0.52
 5.875
06/04/2031
25,225
Sitios Latinoamerica Sab De Cv
0.52
 5.375
04/04/2032
25,224
General Mills Inc
0.52
 4.950
03/29/2033
25,205
Tyson Foods Inc
0.52
 4.350
03/01/2029
25,195
Vistra Operations Co Llc
0.52
 5.350
01/31/2036
25,177
First Citizens Bancshares Inc/Nc
0.52
 6.254
03/12/2040
25,164
Stryker Corp
0.52
 4.250
09/11/2029
25,129
Sysco Corp
0.52
 3.250
07/15/2027
25,110
Sunoco Logistics Partners Operations Lp
0.52
 4.000
10/01/2027
25,109
Bat Capital Corp
0.52
 3.557
08/15/2027
25,109
Ferguson Finance Plc
0.52
 4.500
10/24/2028
25,098
Motorola Inc
0.52
 4.600
05/23/2029
25,088
Mplx Lp
0.52
 4.000
03/15/2028
25,077
O'Reilly Automotive Inc
0.52
 3.600
09/01/2027
25,069
Pacific Gas And Electric Co
0.52
 3.750
07/01/2028
25,054
Vici Properties Lp
0.52
 5.125
05/15/2032
25,014
Canadian Natural Resources Ltd
0.52
 3.850
06/01/2027
24,955
Williams Cos Inc/The
0.52
 3.750
06/15/2027
24,892
Sherwin-Williams Co/The
0.51
 3.450
06/01/2027
24,860
T-Mobile Usa Inc
0.51
 4.700
01/15/2035
24,818
Roper Technologies Inc
0.51
 5.100
09/15/2035
24,783
Enel Finance International Nv
0.51
 3.500
04/06/2028
24,764
Keurig Dr Pepper Inc
0.51
 3.950
04/15/2029
24,722
Reliance Industries Ltd
0.51
 3.667
11/30/2027
24,705
Hca Inc
0.51
 4.125
06/15/2029
24,675
Lowe's Cos Inc
0.51
 3.650
04/05/2029
24,669
Lpl Holdings Inc
0.51
 4.000
03/15/2029
24,634
Gfl Environmental Inc
0.51
 3.500
09/01/2028
24,634
Weyerhaeuser Co
0.51
 4.000
11/15/2029
24,618
Dt Midstream Inc
0.51
 4.125
06/15/2029
24,576
Pacific Gas And Electric Co
0.51
 2.100
08/01/2027
24,575
T-Mobile Usa Inc
0.51
 3.875
04/15/2030
24,485
Bank Of Nova Scotia/The
0.51
 4.588
05/04/2037
24,417
Msci Inc
0.50
 4.000
11/15/2029
24,379
Royal Bank Of Canada
0.50
 6.350
11/24/2084
24,352
Cheniere Corpus Christi Holdings Llc
0.50
 3.700
11/15/2029
24,338
Prosus Nv
0.50
 3.680
01/21/2030
24,325
Constellation Brands Inc
0.50
 3.150
08/01/2029
24,292
International Flavors & Fragrances Inc
0.50
 1.832
10/15/2027
24,257
Conagra Brands Inc
0.50
 5.300
11/01/2038
24,101
Enel Finance International Nv
0.50
 2.125
07/12/2028
24,067
Keurig Dr Pepper Inc
0.50
 4.050
04/15/2032
24,023
Ares Capital Corp
0.50
 2.875
06/15/2028
23,980
Alcon Finance Corp
0.50
 3.000
09/23/2029
23,962
Credit Agricole Sa
0.50
 3.250
01/14/2030
23,959
Equinix Inc
0.50
 3.200
11/18/2029
23,944
Equinix Inc
0.49
 3.900
04/15/2032
23,898
Blue Owl Capital Corp
0.49
 2.875
06/11/2028
23,738
Athene Holding Ltd
0.49
 6.250
04/01/2054
23,705
Broadridge Financial Solutions Inc
0.49
 2.900
12/01/2029
23,560
Marriott International Inc/Md
0.48
 3.500
10/15/2032
23,270
Marriott International Inc/Md
0.48
 2.850
04/15/2031
23,192
Tyson Foods Inc
0.48
 5.100
09/28/2048
23,097
Lowe's Cos Inc
0.48
 2.625
04/01/2031
23,031
Mondelez International Inc
0.48
 3.000
03/17/2032
23,007
Verizon Communications Inc
0.47
 2.550
03/21/2031
22,950
Costar Group Inc
0.47
 2.800
07/15/2030
22,874
Equinix Inc
0.47
 2.150
07/15/2030
22,848
Hca Inc
0.47
 2.375
07/15/2031
22,510
T-Mobile Usa Inc
0.46
 4.375
04/15/2040
22,446
Canadian Pacific Railway Co
0.46
 2.450
12/02/2031
22,350
Lowe's Cos Inc
0.46
 1.700
10/15/2030
22,270
T-Mobile Usa Inc
0.46
 2.250
11/15/2031
22,062
Capital One Financial Corp
0.46
 2.359
07/29/2032
22,013
Roper Technologies Inc
0.45
 1.750
02/15/2031
21,956
Mcdonald's Corp
0.45
 4.450
09/01/2048
21,520
Kroger Co/The
0.44
 4.450
02/01/2047
21,396
Keurig Dr Pepper Inc
0.42
 4.500
04/15/2052
20,474
Oracle Corp
0.41
 5.500
09/27/2064
19,874
Societe Generale Sa
0.41
 4.027
01/21/2043
19,614
Infraestructura Energetica Nova Sapi De
0.40
 4.750
01/15/2051
19,279
T-Mobile Usa Inc
0.39
 3.000
02/15/2041
18,949
Keurig Dr Pepper Inc
0.38
 3.800
05/01/2050
18,312
Bnp Paribas Sa
0.38
 2.824
01/26/2041
18,233
International Flavors & Fragrances Inc
0.37
 3.468
12/01/2050
17,708
At&T Inc
0.35
 3.850
06/01/2060
16,984
T-Mobile Usa Inc
0.35
 3.300
02/15/2051
16,835
T-Mobile Usa Inc
0.35
 3.400
10/15/2052
16,813
Lowe's Cos Inc
0.33
 3.000
10/15/2050
16,152
Everest Reinsurance Holdings Inc
0.33
 3.125
10/15/2052
15,915
--
0.27
 --
--
13,097
Other/Cash
-0.03
 --
--
-1,590
← 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 05/31/2026

  • Country

    % of Net Assets

  • United States

    80.88

  • Canada

    5.43

  • France

    5.29

  • Netherlands

    1.92

  • Mexico

    1.30

  • Norway

    1.02

  • United Kingdom

    0.97

  • Ireland

    0.95

  • Poland

    0.49

  • Spain

    0.47

  • Italy

    0.46

  • India

    0.46

  • Other/Cash

    0.36

Credit Quality (%) as of 05/31/2026

Composite % of Net Assets
Investment Grade A 1.51
BBB 90.38
Non-Investment Grade BB 7.75
Total Investment Grade -- 91.89
Total Non-Investment Grade -- 7.75
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 05/31/2026

  • Years

    Maturity (%)

  • < 1

    1.90

  • 1 - 3

    17.30

  • 3 - 5

    20.70

  • 5 - 7

    12.70

  • 7 - 10

    14.40

  • 10 - 15

    13.30

  • 15 - 20

    3.50

  • 20 - 30

    11.20

  • 30 +

    4.90

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
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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