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SHYD VanEck Short High Yield Muni ETF Please read important disclosure Close important disclosure false

SHYD
VanEck Short High Yield Muni ETF

SHYD
VanEck Short High Yield Muni ETF

  • NAV
    $22.65

    as of May 08, 2026
  • YTD RETURNS
    0.87%

    as of May 08, 2026
  • Total Net Assets
    $423.51M

    as of May 08, 2026
  • Total Expense Ratio
    0.32%
  • Inception Date
    01/13/2014
  • 30-Day SEC Yield
    3.56%
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Overview

Why SHYD

  • High-Yield Muni Focus

    Underlying Index comprised of highest-yielding municipal bonds with income generally exempt from federal taxes, focused on the 1-12 year maturity range.

  • Enhanced Liquidity Feature

    Index includes 20% BBB and 10% A investment-grade exposure as well as a 30% cap on non-rated bonds for enhanced liquidity

  • Diversified Credit Quality

    Index covers wide range of muni sectors and securities with historically low default rates.

    Source: Moody’s Investors Services; "U.S. Municipal Bond Defaults and Recoveries, 1970-2024"

The VanEck Short High Yield Muni ETF (SHYD®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of ICE 1-12 Year Broad High Yield Crossover Municipal Index (MIHX), which is intended to track the overall performance of the U.S. dollar denominated high yield short-term tax-exempt bond market.

Yields  as of  05/08/2026

Distribution Frequency

Monthly

30-Day SEC Yield

3.56%

Distribution Yield

3.79%

12 Month Yield

3.61%

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 High Yield Muni ETF would have been 3.56% on 05/08/26. 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 01/13/14
SHYD (NAV) 0.78 -0.25 0.74 5.29 3.89 1.02 2.03 2.29
SHYD (Market Price) 0.56 -0.53 0.03 5.84 3.64 0.95 2.01 2.30
ICE 1-12 Year Broad High Yield Crossover Municipal Index (Index) 0.82 -0.14 0.83 4.98 4.44 2.42 3.34 3.83
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 01/13/14
SHYD (NAV) -1.69 -0.03 -0.03 3.78 3.60 1.06 2.00 2.24
SHYD (Market Price) -1.60 -0.52 -0.52 4.39 3.90 1.00 2.02 2.27
ICE 1-12 Year Broad High Yield Crossover Municipal Index (Index) -1.46 0.02 0.02 3.64 4.21 2.44 3.33 3.79

*Returns less than one year are not annualized.

Index data prior to March 1, 2022 reflects that of the Bloomberg Municipal High Yield Short Duration Index (BMHYTR). From March 1, 2022 to November 30, 2022 the index data reflects that of the ICE 1-12 Year High Yield Crossover Municipal Bond Transition Index (MXIT). From December 1, 2022 forward, the index data reflects that of the Fund's underlying index, the ICE 1-12 Year Broad High Yield Crossover Municipal Index (MIHX) 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 05/08/2026

Download XLS Get holdings
Total Holdings: 543
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
California Municipal Finance Authority
1.60
 4.000
07/15/2029
6,759,631
Patriots Energy Group Financing Agency
1.28
 5.250
10/01/2054
5,437,221
Commonwealth Of Puerto Rico
1.04
 5.750
07/01/2031
4,395,593
Commonwealth Of Puerto Rico
0.96
 4.000
07/01/2033
4,069,507
Greater Orlando Aviation Authority
0.94
 5.500
11/01/2037
3,974,629
City & County Of Denver Co
0.93
 5.000
10/01/2032
3,950,626
Black Belt Energy Gas District
0.88
 5.000
12/01/2055
3,731,103
Baldwin County Industrial Development A
0.86
 5.000
06/01/2055
3,642,945
California Infrastructure & Economic De
0.86
 12.000
01/01/2065
3,621,237
Mission Economic Development Corp
0.82
 4.625
10/01/2031
3,481,535
Kentucky Public Energy Authority
0.77
 5.250
06/01/2055
3,247,539
Commonwealth Of Puerto Rico
0.76
 5.625
07/01/2029
3,212,644
New York Transportation Development Cor
0.68
 5.250
08/01/2031
2,881,033
New York Transportation Development Cor
0.64
 5.000
08/01/2031
2,692,108
California Community Choice Financing A
0.62
 5.500
05/01/2054
2,618,911
Chicago Board Of Education
0.60
 5.000
12/01/2036
2,554,470
City Of Houston Tx Airport System Reven
0.59
 5.000
07/01/2029
2,512,380
California Housing Finance Agency
0.59
 4.000
03/20/2033
2,507,344
Chicago Board Of Education
0.56
 5.000
12/01/2034
2,368,326
Metropolitan Transportation Authority
0.55
 5.000
11/15/2035
2,322,884
New York Transportation Development Cor
0.51
 5.000
12/01/2029
2,156,022
Puerto Rico Commonwealth Aqueduct & Sew
0.50
 5.000
07/01/2033
2,129,915
Chicago Board Of Education
0.50
 5.000
12/01/2030
2,105,606
Chicago Board Of Education
0.50
 5.000
12/01/2031
2,097,943
Chicago Board Of Education
0.49
 5.000
12/01/2032
2,092,504
Commonwealth Of Puerto Rico
0.49
 5.625
07/01/2027
2,075,687
Montgomery County Industrial Developmen
0.49
 4.100
06/01/2029
2,074,669
California Community Choice Financing A
0.49
 5.000
10/01/2055
2,068,062
City Of Houston Tx Airport System Reven
0.49
 5.000
07/15/2027
2,064,540
Black Belt Energy Gas District
0.49
 4.000
12/01/2052
2,056,044
New York Transportation Development Cor
0.48
 3.000
08/01/2031
2,036,971
Indiana Finance Authority
0.47
 4.125
12/01/2026
2,007,111
Ohio Air Quality Development Authority
0.47
 3.250
09/01/2029
2,003,019
New Hampshire Business Finance Authorit
0.44
 4.150
10/20/2040
1,850,263
Brooklyn Arena Local Development Corp
0.44
 5.000
07/15/2030
1,846,119
City Of Houston Tx Airport System Reven
0.43
 5.000
07/15/2027
1,806,472
California Statewide Communities Develo
0.42
 5.250
12/01/2034
1,782,309
Baldwin County Industrial Development A
0.41
 4.300
03/01/2056
1,735,132
Chicago Board Of Education
0.40
 6.000
12/01/2037
1,703,346
New York Transportation Development Cor
0.40
 4.000
07/01/2035
1,683,867
County Of Miami-Dade Fl Aviation Revenu
0.40
 5.000
10/01/2034
1,681,432
Puerto Rico Sales Tax Financing Corp Sa
0.40
 --
07/01/2031
1,675,687
County Of Miami-Dade Fl Aviation Revenu
0.39
 5.000
10/01/2036
1,665,513
Rhode Island Health And Educational Bui
0.39
 5.000
05/15/2031
1,638,620
Greater Orlando Aviation Authority
0.38
 5.500
11/01/2036
1,607,593
California Community Choice Financing A
0.38
 5.250
01/01/2054
1,598,062
Escambia County Health Facilities Autho
0.38
 5.000
08/15/2031
1,597,339
New York Energy Finance Development Cor
0.37
 5.000
07/01/2056
1,583,403
City Of Chicago Il
0.37
 5.000
01/01/2030
1,580,704
New York Transportation Development Cor
0.37
 5.000
10/01/2035
1,575,557
Chicago Board Of Education
0.37
 5.000
12/01/2033
1,564,168
City Of Houston Tx Airport System Reven
0.37
 5.000
07/15/2028
1,563,973
New York Transportation Development Cor
0.37
 5.000
12/01/2030
1,558,985
Southeast Energy Authority A Cooperativ
0.37
 5.000
11/01/2035
1,555,693
Dekalb County Housing Authority
0.36
 4.000
12/01/2033
1,544,891
West Virginia Economic Development Auth
0.36
 4.625
04/15/2055
1,544,334
Tulsa Municipal Airport Trust Trustees/
0.36
 5.500
06/01/2035
1,537,050
Glynn-Brunswick Memorial Hospital Autho
0.36
 5.000
08/01/2034
1,521,834
Commonwealth Of Puerto Rico
0.36
 4.000
07/01/2035
1,519,123
Calhoun County Navigation Industrial De
0.35
 3.625
07/01/2026
1,476,083
Chicago Board Of Education
0.34
 5.000
12/01/2033
1,454,094
City Of Henderson Ky
0.34
 3.700
01/01/2032
1,439,258
New Jersey Economic Development Authori
0.34
 5.250
09/15/2029
1,428,459
Chicago Board Of Education
0.33
 --
12/01/2028
1,383,715
New Hampshire Business Finance Authorit
0.32
 4.125
01/20/2034
1,370,141
Maricopa County Industrial Development
0.32
 4.000
07/01/2029
1,362,646
State Of Illinois
0.32
 5.000
11/01/2029
1,356,840
Chicago Board Of Education
0.32
 5.125
12/01/2032
1,350,296
Chicago Board Of Education
0.31
 5.000
12/01/2029
1,311,016
Chicago Board Of Education
0.31
 5.000
12/01/2030
1,308,258
California Community Choice Financing A
0.31
 5.000
01/01/2055
1,300,689
Matagorda County Navigation District No
0.30
 4.000
06/01/2030
1,272,784
New York Transportation Development Cor
0.30
 5.000
07/01/2034
1,253,253
Austin Convention Enterprises Inc
0.29
 5.000
01/01/2033
1,226,017
Puerto Rico Sales Tax Financing Corp Sa
0.28
 --
07/01/2029
1,180,614
New Jersey Economic Development Authori
0.28
 4.000
07/01/2032
1,176,901
Capital Trust Agency Inc
0.28
 3.375
07/01/2031
1,171,934
Great Lakes Water Authority Water Suppl
0.27
 5.000
07/01/2034
1,160,282
Puerto Rico Sales Tax Financing Corp Sa
0.27
 --
07/01/2033
1,157,532
City Of Los Angeles Department Of Airpo
0.27
 5.000
05/15/2035
1,151,165
Metropolitan Pier & Exposition Authorit
0.27
 --
12/15/2033
1,150,296
California Health Facilities Financing
0.27
 5.000
12/01/2035
1,149,811
District Of Columbia Water & Sewer Auth
0.27
 5.000
10/01/2037
1,137,059
Monroe County Industrial Development Co
0.27
 5.000
12/01/2034
1,136,792
New Jersey Economic Development Authori
0.27
 5.750
09/15/2027
1,132,034
California Health Facilities Financing
0.27
 5.000
12/01/2034
1,130,398
County Of Allen Oh Hospital Facilities
0.27
 5.000
11/01/2034
1,129,813
Parish Of St James La
0.27
 6.100
12/01/2040
1,129,130
State Of Illinois
0.27
 5.000
09/01/2034
1,128,297
San Joaquin Valley Clean Energy Authori
0.27
 5.500
01/01/2056
1,127,661
Massachusetts Development Finance Agenc
0.27
 5.000
07/01/2035
1,126,645
City Of Salt Lake City Ut Airport Reven
0.27
 5.000
07/01/2037
1,123,782
Columbus Regional Airport Authority
0.26
 5.000
01/01/2036
1,118,311
Trust For Cultural Resources Of The Cit
0.26
 5.000
12/01/2032
1,117,756
Virginia Beach Development Authority
0.26
 5.750
09/01/2033
1,114,513
New York Transportation Development Cor
0.26
 6.000
04/01/2035
1,109,245
Dallas Fort Worth International Airport
0.26
 5.000
11/01/2036
1,102,684
Pennsylvania Economic Development Finan
0.26
 5.000
06/30/2032
1,101,015
City Of Houston Tx Airport System Reven
0.26
 5.500
07/15/2037
1,090,981
Southeast Energy Authority A Cooperativ
0.26
 5.500
01/01/2053
1,088,754
Chicago Board Of Education
0.26
 5.500
12/01/2031
1,087,926
Territory Of Guam
0.26
 5.000
01/01/2031
1,087,821
Texas Municipal Gas Acquisition & Suppl
0.26
 5.000
01/01/2055
1,087,266
Salt Verde Financial Corp
0.26
 5.000
12/01/2037
1,086,036
Central Plains Energy Project
0.26
 5.000
08/01/2055
1,085,390
Texas Municipal Gas Acquisition & Suppl
0.25
 5.000
12/15/2030
1,079,486
Territory Of Guam
0.25
 5.000
01/01/2030
1,075,694
Colorado Health Facilities Authority
0.25
 5.000
09/01/2029
1,071,724
Virginia Small Business Financing Autho
0.25
 5.000
12/01/2034
1,071,519
California Community Choice Financing A
0.25
 5.000
02/01/2055
1,071,210
New Jersey Health Care Facilities Finan
0.25
 5.000
07/01/2029
1,069,054
Kentucky Public Energy Authority
0.25
 5.000
05/01/2036
1,067,596
Southern California Public Power Author
0.25
 5.000
07/01/2053
1,067,326
California Community Choice Financing A
0.25
 5.000
02/01/2055
1,066,454
California Community Choice Financing A
0.25
 5.250
11/01/2054
1,064,432
Central Plains Energy Project
0.25
 5.000
09/01/2031
1,063,979
Tennessee Energy Acquisition Corp
0.25
 5.000
05/01/2052
1,063,718
California Community Choice Financing A
0.25
 5.000
12/01/2053
1,060,106
State Of Illinois
0.25
 5.500
05/01/2030
1,059,896
Puerto Rico Commonwealth Aqueduct & Sew
0.25
 5.000
07/01/2030
1,059,564
Calcasieu Parish Memorial Hospital Serv
0.25
 5.000
12/01/2027
1,059,158
City Of Coralville Ia
0.25
 4.000
06/01/2029
1,057,574
City Of Houston Tx Airport System Reven
0.25
 5.250
07/15/2028
1,054,861
Southeast Alabama Gas Supply District/T
0.25
 5.000
06/01/2049
1,053,325
California Community Choice Financing A
0.25
 5.000
08/01/2055
1,052,233
City Of Minneapolis Mn
0.25
 5.000
11/15/2035
1,051,451
Indiana Finance Authority
0.25
 4.250
11/01/2030
1,048,885
Chicago Board Of Education
0.25
 5.000
12/01/2029
1,048,813
Build Nyc Resource Corp
0.25
 5.000
06/01/2036
1,048,563
Matching Fund Special Purpose Securitiz
0.25
 5.000
10/01/2032
1,047,042
Chicago Board Of Education
0.25
 5.000
12/01/2030
1,046,607
California Municipal Finance Authority
0.25
 5.000
12/31/2037
1,042,100
Puerto Rico Commonwealth Aqueduct & Sew
0.25
 5.000
07/01/2028
1,041,384
Washington State Convention Center Publ
0.25
 4.000
07/01/2031
1,038,199
New Jersey Economic Development Authori
0.24
 5.000
07/01/2033
1,033,716
New Jersey Economic Development Authori
0.24
 5.625
11/15/2030
1,029,063
Chicago Board Of Education
0.24
 5.000
12/01/2037
1,028,781
New York Liberty Development Corp
0.24
 5.150
11/15/2034
1,026,117
Puerto Rico Electric Power Authority
0.24
 5.250
07/01/2033
1,025,327
Florida Local Government Finance Commis
0.24
 4.200
11/15/2030
1,024,524
Vermont Educational & Health Buildings
0.24
 5.000
12/01/2031
1,023,429
New York Transportation Development Cor
0.24
 4.000
10/01/2030
1,022,362
Lee County Industrial Development Autho
0.24
 4.125
11/15/2029
1,021,421
Washington State Housing Finance Commis
0.24
 4.375
01/01/2033
1,020,966
New York City Housing Development Corp
0.24
 3.950
11/01/2064
1,017,389
Puerto Rico Sales Tax Financing Corp Sa
0.24
 4.500
07/01/2034
1,016,441
Virginia Beach Development Authority
0.24
 5.750
09/01/2030
1,016,203
Black Belt Energy Gas District
0.24
 5.000
10/01/2035
1,014,962
Oklahoma Development Finance Authority
0.24
 5.000
08/15/2026
1,014,945
Guam Power Authority
0.24
 5.000
10/01/2033
1,014,580
New York Transportation Development Cor
0.24
 4.000
07/01/2031
1,014,530
New York City Housing Development Corp
0.24
 3.750
05/01/2065
1,012,331
Rhode Island Health And Educational Bui
0.24
 5.000
09/01/2031
1,010,746
South Carolina Jobs-Economic Developmen
0.24
 5.500
06/15/2033
1,009,251
Compton Public Finance Authority
0.24
 4.500
09/01/2032
1,009,105
Build Nyc Resource Corp
0.24
 5.000
12/15/2031
1,006,525
New York State Housing Finance Agency
0.24
 3.600
11/01/2064
1,005,317
Public Finance Authority
0.24
 4.300
11/01/2030
1,001,294
New York City Housing Development Corp
0.24
 3.125
11/01/2065
1,000,137
Ohio Air Quality Development Authority
0.23
 4.250
08/01/2029
991,067
New York State Dormitory Authority
0.23
 5.000
08/01/2030
988,920
New York State Environmental Facilities
0.23
 3.750
12/01/2044
988,914
California Municipal Finance Authority
0.23
 3.500
12/31/2035
976,273
Windler Public Improvement Authority
0.23
 4.000
12/01/2031
974,124
Ohio Air Quality Development Authority
0.23
 2.600
06/01/2041
970,038
County Of Miami-Dade Seaport Department
0.22
 5.000
10/01/2036
947,662
City Of Farmington Nm
0.22
 1.800
04/01/2029
939,193
Industrial Development Authority Of The
0.22
 5.000
07/01/2035
916,535
Colorado Health Facilities Authority
0.22
 3.500
05/15/2030
911,347
Territory Of Guam
0.21
 4.000
01/01/2036
904,812
Connecticut State Health & Educational
0.21
 5.000
07/01/2029
903,458
Puerto Rico Sales Tax Financing Corp Sa
0.21
 --
07/01/2029
902,610
Wisconsin Health & Educational Faciliti
0.20
 3.000
08/15/2026
829,888
City Of Los Angeles Department Of Airpo
0.20
 5.000
05/15/2030
827,556
Arizona Industrial Development Authorit
0.19
 4.750
07/01/2029
818,179
County Of Miami-Dade Fl Aviation Revenu
0.19
 5.000
10/01/2035
815,655
Louisiana Local Government Environmenta
0.19
 3.500
11/01/2032
794,406
Puerto Rico Municipal Finance Agency
0.19
 5.000
08/01/2030
793,151
New Jersey Economic Development Authori
0.19
 4.000
06/15/2029
784,368
Metropolitan Nashville Airport Authorit
0.18
 5.000
07/01/2038
781,477
County Of Cuyahoga Oh
0.18
 5.000
05/15/2032
780,158
California Community Choice Financing A
0.18
 5.000
01/01/2056
773,870
Florida Higher Educational Facilities F
0.18
 5.000
07/01/2035
773,522
State Of Illinois
0.18
 5.000
03/01/2033
762,532
County Of Sullivan Ny
0.18
 4.850
11/01/2031
755,266
Arkansas Development Finance Authority
0.18
 4.250
09/01/2046
755,242
Philadelphia Gas Works Co
0.18
 5.000
10/01/2031
745,578
New Memphis Arena Public Building Autho
0.18
 --
04/01/2033
741,265
Chicago Board Of Education
0.17
 --
12/01/2028
726,108
Florida Development Finance Corp
0.17
 5.000
07/01/2035
723,194
Puerto Rico Electric Power Authority
0.17
 5.250
07/01/2032
720,650
Colorado State University Research Foun
0.17
 5.000
03/01/2035
711,770
Washington State Housing Finance Commis
0.17
 3.500
12/20/2035
704,188
Central Plains Energy Project
0.16
 5.000
09/01/2034
691,056
Monroe County Industrial Development Co
0.16
 4.000
12/01/2035
685,435
M-S-R Energy Authority
0.16
 6.125
11/01/2029
679,382
Public Finance Authority
0.16
 5.000
12/01/2027
670,951
State Of Nevada Department Of Business
0.16
 12.000
01/01/2065
667,637
Virginia Small Business Financing Autho
0.15
 4.000
01/01/2031
654,551
Metropolitan Pier & Exposition Authorit
0.15
 --
06/15/2030
652,631
Detroit Regional Convention Facility Au
0.15
 5.000
10/01/2035
643,345
Metropolitan Washington Airports Author
0.15
 --
10/01/2037
640,226
City Of Minneapolis Mn
0.15
 5.000
11/15/2034
637,416
New Hope Cultural Education Facilities
0.15
 4.000
07/01/2028
634,128
California Municipal Finance Authority
0.15
 5.000
06/30/2027
630,862
Allentown Neighborhood Improvement Zone
0.15
 5.000
05/01/2028
627,746
Eastern Illinois Economic Development A
0.15
 5.000
11/01/2033
624,341
City Of Wichita Ks
0.15
 5.000
05/15/2034
619,288
Denver Convention Center Hotel Authorit
0.15
 5.000
12/01/2027
618,906
City Of Farmington Nm
0.14
 2.150
04/01/2033
613,452
New Jersey Economic Development Authori
0.14
 4.000
07/01/2034
610,252
M-S-R Energy Authority
0.14
 7.000
11/01/2034
600,195
North Carolina Medical Care Commission
0.14
 5.000
10/01/2033
593,719
New York State Thruway Authority
0.14
 5.000
01/01/2038
581,759
Kalamazoo Economic Development Corp
0.14
 3.900
08/15/2031
581,180
Illinois Sports Facilities Authority/Th
0.14
 5.000
06/15/2029
579,608
Massachusetts Development Finance Agenc
0.14
 5.000
07/01/2034
578,980
Chicago Board Of Education
0.14
 5.000
12/01/2030
578,033
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2036
576,502
Los Angeles Department Of Water & Power
0.14
 5.000
07/01/2035
576,436
City Of Los Angeles Department Of Airpo
0.14
 5.000
05/15/2035
575,582
Connecticut State Health & Educational
0.13
 5.000
07/01/2033
571,130
Miami Beach Redevelopment Agency
0.13
 5.000
02/01/2036
569,498
Territory Of Guam
0.13
 5.000
01/01/2035
566,292
City Of Philadelphia Pa Airport Revenue
0.13
 5.000
07/01/2034
565,634
Chicago O'Hare International Airport
0.13
 5.000
01/01/2032
564,617
Monroe County Industrial Development Co
0.13
 4.000
01/01/2030
563,665
North Carolina Medical Care Commission
0.13
 5.000
09/01/2034
562,196
New Jersey Educational Facilities Autho
0.13
 5.000
07/01/2064
559,001
Metropolitan Nashville Airport Authorit
0.13
 5.250
07/01/2035
558,017
Kentucky Bond Development Corp
0.13
 5.000
08/15/2055
557,443
Harris County-Houston Sports Authority
0.13
 5.000
11/15/2030
556,702
San Francisco City & County Airport Com
0.13
 5.000
05/01/2033
556,610
New Hampshire Business Finance Authorit
0.13
 5.375
12/15/2035
556,001
County Of Jefferson Al Sewer Revenue
0.13
 5.000
10/01/2035
555,432
Connecticut State Health & Educational
0.13
 5.000
07/01/2064
553,787
California Community Choice Financing A
0.13
 5.000
12/01/2035
553,001
City Of Atlanta Ga Department Of Aviati
0.13
 5.000
07/01/2030
548,496
California Community Choice Financing A
0.13
 5.000
04/01/2056
547,850
West Virginia Economic Development Auth
0.13
 5.450
01/01/2055
546,551
City Of Philadelphia Pa Airport Revenue
0.13
 5.000
07/01/2030
546,477
Delaware Valley Regional Finance Author
0.13
 5.500
08/01/2028
546,387
Dallas Fort Worth International Airport
0.13
 5.000
11/01/2031
546,076
Energy Southeast A Cooperative District
0.13
 5.250
07/01/2054
545,096
Tennergy Corp/Tn
0.13
 5.500
10/01/2053
544,820
City Of Houston Tx Airport System Reven
0.13
 5.250
07/15/2034
543,417
California Municipal Finance Authority
0.13
 5.000
06/30/2032
543,215
Monroe County Industrial Development Co
0.13
 5.000
12/01/2031
542,979
City Of Chicago Il Waterworks Revenue
0.13
 --
11/01/2030
542,077
Main Street Natural Gas Inc
0.13
 5.000
05/01/2055
541,713
Virginia Small Business Financing Autho
0.13
 5.000
01/01/2034
541,644
Central Valley Energy Authority
0.13
 5.000
08/01/2034
540,748
Texas Municipal Gas Acquisition And Sup
0.13
 5.000
01/01/2036
539,692
Black Belt Energy Gas District
0.13
 5.000
12/01/2035
539,639
Kentucky Public Energy Authority
0.13
 5.000
01/01/2055
539,590
Lower Alabama Gas District/The
0.13
 5.000
12/01/2033
538,941
Southeast Energy Authority A Cooperativ
0.13
 5.000
10/01/2030
538,246
Virginia Small Business Financing Autho
0.13
 5.000
07/01/2035
537,923
Main Street Energy Inc
0.13
 5.000
12/01/2033
537,127
California Community Choice Financing A
0.13
 5.000
03/01/2056
536,874
City Of Houston Tx Airport System Reven
0.13
 5.250
07/15/2030
536,249
New York City Industrial Development Ag
0.13
 5.000
03/01/2029
534,760
California Community Choice Financing A
0.13
 5.000
02/01/2031
534,722
Arlington Higher Education Finance Corp
0.13
 5.000
06/15/2035
534,542
City Of Grand Forks Nd
0.13
 5.000
12/01/2034
534,032
Massachusetts Development Finance Agenc
0.13
 5.000
07/01/2029
533,447
Capital Trust Agency Inc
0.13
 4.000
06/15/2031
532,400
San Francisco City & County Airport Com
0.13
 5.000
05/01/2029
531,528
San Francisco City & County Airport Com
0.13
 5.000
05/01/2029
531,528
California Community Choice Financing A
0.13
 5.000
07/01/2053
530,532
Black Belt Energy Gas District
0.13
 5.000
07/01/2033
530,462
Black Belt Energy Gas District
0.13
 5.000
10/01/2035
529,379
Black Belt Energy Gas District
0.12
 5.000
12/01/2034
528,238
Illinois Finance Authority
0.12
 4.800
12/01/2043
526,669
Puerto Rico Electric Power Authority
0.12
 5.250
07/01/2029
525,420
Metropolitan Pier & Exposition Authorit
0.12
 5.000
12/15/2028
524,787
California Public Finance Authority
0.12
 5.700
06/01/2034
524,409
Cleveland-Cuyahoga County Port Authorit
0.12
 5.250
01/01/2034
523,587
Louisiana Public Facilities Authority
0.12
 5.000
12/15/2034
522,133
Monroe County Industrial Development Co
0.12
 5.000
07/01/2034
522,132
City Of Houston Tx Airport System Reven
0.12
 5.000
07/15/2028
521,324
Stamford Housing Authority
0.12
 4.750
10/01/2032
520,770
St Louis County Industrial Development
0.12
 5.000
09/01/2028
520,379
Long Island Power Authority
0.12
 5.000
09/01/2032
518,458
Public Finance Authority
0.12
 5.000
10/01/2034
518,012
Black Belt Energy Gas District
0.12
 5.000
07/01/2028
517,941
Energy Southeast A Cooperative District
0.12
 5.000
09/01/2033
517,672
County Of Okaloosa Fl
0.12
 4.375
05/15/2035
517,591
Chicago Board Of Education
0.12
 5.000
12/01/2027
517,503
County Of Cook Il
0.12
 5.000
11/15/2028
517,414
Oklahoma County Finance Authority
0.12
 5.250
06/15/2034
517,336
Metropolitan Transportation Authority
0.12
 5.000
11/15/2031
517,032
Public Finance Authority
0.12
 6.000
07/01/2060
516,238
Puerto Rico Electric Power Authority
0.12
 5.250
07/01/2030
515,883
Atlanta Development Authority/The
0.12
 5.000
04/01/2034
515,050
North Carolina Turnpike Authority
0.12
 5.000
01/01/2032
515,031
New Hampshire Business Finance Authorit
0.12
 4.750
06/20/2041
514,731
Chicago Board Of Education
0.12
 --
12/01/2029
514,637
Central Plains Energy Project
0.12
 5.000
09/01/2027
514,609
Alabama Special Care Facilities Financi
0.12
 5.500
06/01/2030
512,561
County Of Muskingum Oh
0.12
 5.000
02/15/2027
512,015
Polk County Industrial Development Auth
0.12
 4.825
06/15/2035
511,157
South Carolina Jobs-Economic Developmen
0.12
 4.000
12/01/2030
511,149
Black Belt Energy Gas District
0.12
 4.000
10/01/2052
511,087
New Jersey Economic Development Authori
0.12
 5.500
01/01/2027
511,070
San Francisco City & County Airport Com
0.12
 5.000
05/01/2027
510,866
Austin Convention Enterprises Inc
0.12
 5.000
01/01/2030
510,850
Florida Development Finance Corp
0.12
 5.000
10/01/2032
510,747
New Jersey Health Care Facilities Finan
0.12
 5.000
07/01/2029
510,503
Black Belt Energy Gas District
0.12
 5.250
05/01/2056
509,858
California Pollution Control Financing
0.12
 5.000
07/01/2037
509,616
Public Finance Authority
0.12
 5.000
06/15/2036
508,257
Michigan Finance Authority
0.12
 4.000
12/01/2036
507,556
Washington State Housing Finance Commis
0.12
 3.950
07/01/2029
507,238
Build Nyc Resource Corp
0.12
 4.250
06/15/2035
505,911
Alameda Corridor Transportation Authori
0.12
 5.000
10/01/2036
505,850
Chicago Board Of Education
0.12
 --
12/01/2029
505,840
North Carolina Medical Care Commission
0.12
 4.250
09/01/2028
505,204
Florida Development Finance Corp
0.12
 5.000
08/15/2032
504,673
City Of Phoenix Civic Improvement Corp
0.12
 4.000
07/01/2037
503,644
Arkansas Development Finance Authority
0.12
 4.000
09/01/2046
503,459
Village Community Development District
0.12
 4.000
05/01/2034
501,277
Grand Rapids Economic Development Corp
0.12
 4.125
11/01/2030
500,865
Illinois Finance Authority
0.12
 3.650
05/01/2031
500,151
Commonwealth Of Puerto Rico
0.12
 4.000
07/01/2037
499,182
North Carolina Medical Care Commission
0.12
 3.200
11/01/2030
498,533
Plaza At Noah's Ark Community Improveme
0.11
 3.000
05/01/2030
482,610
Ohio Air Quality Development Authority
0.11
 2.400
12/01/2038
480,896
Chicago Board Of Education
0.11
 --
12/01/2026
480,565
Public Finance Authority
0.11
 5.000
06/15/2034
478,638
New York City Industrial Development Ag
0.11
 3.000
03/01/2036
477,611
State Of Illinois
0.11
 5.000
11/01/2028
474,862
Port Beaumont Navigation District
0.11
 2.625
01/01/2031
473,710
El Centro Financing Authority
0.11
 4.500
07/01/2029
464,553
Maryland Economic Development Corp
0.11
 5.000
06/01/2028
450,554
New Jersey Economic Development Authori
0.11
 4.250
06/15/2026
447,845
New Jersey Economic Development Authori
0.11
 5.250
06/15/2028
444,869
New Hampshire Business Finance Authorit
0.11
 5.950
12/01/2031
444,660
Philadelphia Authority For Industrial D
0.10
 4.000
06/01/2031
442,012
Connecticut State Health & Educational
0.10
 5.000
07/01/2027
441,047
Hoover Industrial Development Board
0.10
 6.375
11/01/2050
432,393
Illinois Finance Authority
0.10
 5.000
05/15/2033
430,719
New York Transportation Development Cor
0.10
 5.000
07/01/2030
428,025
Albany Hospital Facility Authority
0.10
 3.200
11/15/2029
426,849
California Statewide Communities Develo
0.10
 3.500
11/01/2027
422,195
Florida Development Finance Corp
0.10
 4.000
09/15/2030
418,111
Illinois Sports Facilities Authority/Th
0.10
 5.000
06/15/2028
414,879
Metropolitan Pier & Exposition Authorit
0.10
 --
12/15/2030
408,811
Collegiate Charter School Of Lowell
0.10
 5.000
06/15/2029
408,537
New Jersey Transportation Trust Fund Au
0.10
 5.000
06/15/2030
403,857
Salt Verde Financial Corp
0.10
 5.500
12/01/2029
403,799
Lynchburg Economic Development Authorit
0.10
 5.000
01/01/2032
402,484
Georgia Local Government
0.09
 4.750
06/01/2028
395,978
San Francisco City & County Airport Com
0.09
 5.000
05/01/2034
388,832
Arizona Industrial Development Authorit
0.09
 3.625
05/20/2033
388,463
Polk County Industrial Development Auth
0.09
 5.875
01/01/2033
386,000
Washington State Housing Finance Commis
0.09
 5.000
01/01/2031
374,120
Massachusetts Development Finance Agenc
0.09
 5.000
10/01/2029
373,241
Allentown Neighborhood Improvement Zone
0.09
 5.000
05/01/2028
372,923
District Of Columbia
0.09
 4.000
06/01/2030
372,543
Texas Municipal Gas Acquisition & Suppl
0.09
 5.000
12/15/2028
371,997
New Hampshire Business Finance Authorit
0.09
 5.000
12/01/2028
367,800
California Municipal Finance Authority
0.09
 5.000
05/15/2030
364,403
South Carolina Public Service Authority
0.09
 5.000
12/01/2031
363,341
City Of Chicago Il
0.09
 4.000
01/01/2030
363,334
County Of Cuyahoga Oh
0.08
 5.000
02/15/2027
357,299
New Jersey Economic Development Authori
0.08
 5.125
01/01/2034
357,104
Kentucky Economic Development Finance A
0.08
 5.000
05/15/2036
356,655
State Of Illinois
0.08
 3.500
06/01/2030
355,498
New Jersey Transportation Trust Fund Au
0.08
 --
12/15/2026
353,923
Arizona Industrial Development Authorit
0.08
 4.000
07/01/2029
353,742
Public Finance Authority
0.08
 5.500
12/15/2032
347,300
Kalamazoo Economic Development Corp
0.08
 5.000
08/15/2036
343,953
Northern Illinois Municipal Power Agenc
0.08
 5.000
12/01/2029
340,847
Arizona Industrial Development Authorit
0.08
 4.000
07/15/2030
334,750
Florida Development Finance Corp
0.08
 5.000
08/01/2056
328,866
Puerto Rico Electric Power Authority
0.08
 5.250
07/01/2026
326,241
Redtail Ridge Metropolitan District
0.08
 --
12/01/2032
322,433
Miami-Dade County Industrial Developmen
0.08
 5.000
06/01/2030
322,060
Massachusetts Development Finance Agenc
0.07
 5.000
07/01/2028
316,476
City & County Of Denver Co Airport Syst
0.07
 5.000
12/01/2029
316,173
Public Finance Authority
0.07
 4.000
09/01/2029
314,082
California Statewide Communities Develo
0.07
 5.000
05/15/2033
307,717
Chicago Board Of Education
0.07
 --
12/01/2026
304,031
Tennessee Energy Acquisition Corp
0.07
 5.250
09/01/2026
294,684
Louisville/Jefferson County Metropolita
0.07
 5.000
10/01/2031
293,303
Hospitals & Higher Education Facilities
0.07
 5.000
07/01/2029
283,659
Harris County-Houston Sports Authority
0.07
 --
11/15/2029
282,711
Dutchess County Local Development Corp
0.07
 5.000
07/01/2028
280,515
Town Of Hamden Ct
0.07
 5.000
01/01/2030
279,778
California Health Facilities Financing
0.07
 5.000
10/01/2050
278,565
Clark County School District
0.07
 5.000
06/15/2030
277,151
Dutchess County Local Development Corp
0.07
 5.000
07/01/2030
275,391
City Of Chicago Il Waterworks Revenue
0.06
 --
11/01/2031
273,989
California Municipal Finance Authority
0.06
 5.000
06/30/2031
273,930
Clark County School District
0.06
 5.000
06/15/2029
272,436
Clark County School District
0.06
 5.000
06/15/2030
271,902
Allentown Neighborhood Improvement Zone
0.06
 5.500
05/01/2032
269,490
Rum River Special Education Cooperative
0.06
 5.000
02/01/2035
268,552
Public Finance Authority
0.06
 5.000
07/01/2035
266,619
Mission Economic Development Corp
0.06
 5.000
12/01/2064
266,436
California Municipal Finance Authority
0.06
 5.000
11/01/2035
265,125
City Of Burbank Il
0.06
 5.250
02/01/2036
264,964
Adams County General Authority
0.06
 5.000
06/01/2034
264,045
Energy Southeast A Cooperative District
0.06
 5.000
11/01/2035
264,019
Selma Industrial Development Board
0.06
 4.200
05/01/2034
263,367
Arizona Industrial Development Authorit
0.06
 4.875
07/01/2060
262,630
Chicago Board Of Education
0.06
 5.000
12/01/2027
262,582
Chicago Board Of Education
0.06
 5.000
12/01/2029
260,439
Tarrant County Cultural Education Facil
0.06
 6.250
11/15/2031
260,073
Allentown Neighborhood Improvement Zone
0.06
 5.000
05/01/2027
259,613
Illinois Sports Facilities Authority/Th
0.06
 --
06/15/2026
259,123
Massachusetts Development Finance Agenc
0.06
 5.500
07/15/2035
259,037
American Samoa Economic Development Aut
0.06
 5.000
09/01/2028
258,716
City Of Houston Tx Airport System Reven
0.06
 5.000
07/01/2027
258,427
New York City Housing Development Corp
0.06
 5.250
12/15/2031
258,060
King County Public Hospital District No
0.06
 5.000
12/01/2032
257,569
New York State Dormitory Authority
0.06
 5.000
07/01/2027
257,448
Oklahoma Development Finance Authority
0.06
 5.000
08/15/2027
257,318
Capital Projects Finance Authority/Fl
0.06
 5.000
06/15/2035
257,033
New Hampshire Business Finance Authorit
0.06
 6.000
12/01/2031
256,995
Baldwin County Industrial Development A
0.06
 4.625
06/01/2055
256,433
New York State Environmental Facilities
0.06
 4.250
09/01/2050
256,167
City Of Kalispell Mt
0.06
 4.250
05/15/2030
255,819
Chandler Industrial Development Authori
0.06
 4.100
12/01/2037
255,623
City Of Garden City Ks
0.06
 4.000
06/01/2029
255,570
City Of Venice Fl
0.06
 4.250
01/01/2030
253,999
City Of Manhattan Ks
0.06
 3.750
06/01/2031
253,861
County Of Suffolk Ny
0.06
 5.000
10/15/2026
253,595
New York City Housing Development Corp
0.06
 4.000
12/15/2031
253,371
Public Finance Authority
0.06
 4.000
07/15/2033
253,023
Kentucky Economic Development Finance A
0.06
 5.375
11/15/2032
251,955
Massachusetts Development Finance Agenc
0.06
 4.000
10/01/2027
251,493
New Hampshire Business Finance Authorit
0.06
 6.125
12/15/2033
251,003
Wisconsin Health & Educational Faciliti
0.06
 5.000
07/01/2035
250,992
California Municipal Finance Authority
0.06
 5.000
11/01/2036
250,746
Public Finance Authority
0.06
 4.000
07/15/2034
250,614
New Hampshire Business Finance Authorit
0.06
 4.000
11/01/2027
250,438
North Carolina Medical Care Commission
0.06
 3.450
11/01/2030
249,291
City Of Anna Tx
0.06
 4.000
09/15/2036
246,341
Hunt Memorial Hospital District Charita
0.06
 4.375
02/15/2036
245,695
Public Finance Authority
0.06
 5.500
11/15/2032
245,603
Sierra Vista Industrial Development Aut
0.06
 5.000
06/15/2036
245,558
New Hampshire Business Finance Authorit
0.06
 5.375
12/01/2031
242,554
State Of Illinois Sales Tax Revenue
0.06
 5.000
06/15/2026
240,197
Chicago Board Of Education
0.06
 5.500
12/01/2026
237,452
Sierra Vista Industrial Development Aut
0.06
 5.250
06/15/2035
235,990
Peninsula Town Center Community Develop
0.06
 4.500
09/01/2028
233,917
California Municipal Finance Authority
0.05
 5.000
06/30/2028
232,476
Louisiana Local Government Environmenta
0.05
 4.250
11/15/2030
220,675
Maryland Heights Industrial Development
0.05
 4.375
03/15/2030
216,720
Public Finance Authority
0.05
 4.250
05/01/2029
215,007
Chicago Board Of Education
0.05
 5.000
12/01/2029
213,082
Iowa Finance Authority
0.05
 4.500
10/01/2035
212,990
New York Transportation Development Cor
0.05
 2.250
08/01/2026
210,986
State Public School Building Authority
0.05
 5.000
06/01/2029
206,828
County Of Palm Beach Fl
0.05
 5.000
04/01/2029
204,488
City Of Baltimore Md
0.05
 4.000
09/01/2027
202,044
Village Community Development District
0.05
 3.800
05/01/2028
196,237
Texas Municipal Gas Acquisition And Sup
0.04
 6.250
12/15/2026
188,063
City Of Houston Tx Airport System Reven
0.04
 5.000
07/01/2027
187,298
New Hampshire Business Finance Authorit
0.04
 5.300
12/01/2032
184,190
Bl Train Holdings West Llc
0.04
 --
--
183,750
Florida Development Finance Corp
0.04
 5.000
07/01/2037
180,799
Huntington Local Development Corp
0.04
 4.000
07/01/2027
180,459
California Municipal Finance Authority
0.04
 4.650
05/01/2030
178,933
Kentucky Municipal Power Agency
0.04
 5.000
09/01/2030
176,975
County Of Frederick Md
0.04
 5.000
09/01/2027
176,974
Capital Trust Agency Inc
0.04
 5.000
08/01/2027
176,251
South Carolina Public Service Authority
0.04
 5.000
12/01/2031
174,011
New Jersey Economic Development Authori
0.04
 4.125
07/01/2030
170,903
New York Transportation Development Cor
0.04
 5.000
08/01/2026
167,413
Yonkers Economic Development Corp
0.04
 4.000
10/15/2029
164,610
Development Authority Of Floyd County
0.04
 5.500
12/01/2028
164,173
Michigan Strategic Fund
0.04
 5.000
06/30/2030
163,177
Chicago Board Of Education
0.04
 --
12/01/2030
160,630
Tobacco Settlement Financing Corp
0.04
 5.000
06/01/2029
159,593
Calcasieu Parish Memorial Hospital Serv
0.04
 5.000
12/01/2029
156,843
California Statewide Communities Develo
0.04
 5.000
07/01/2029
155,246
West Virginia Hospital Finance Authorit
0.04
 5.000
06/01/2026
153,499
Development Authority Of The City Of Ma
0.04
 5.000
11/01/2027
150,482
Industrial Development Authority Of The
0.03
 3.875
11/15/2029
144,573
Village Community Development District
0.03
 3.000
05/01/2029
143,280
Metropolitan Pier & Exposition Authorit
0.03
 --
06/15/2034
142,634
New Hampshire Business Finance Authorit
0.03
 5.125
12/15/2030
139,980
Public Finance Authority
0.03
 4.000
02/01/2035
139,320
Amherst Industrial Development Authorit
0.03
 4.750
09/01/2030
138,620
Development Authority Of White County
0.03
 5.000
10/01/2029
136,324
Reno Redevelopment Agency
0.03
 5.400
06/01/2027
133,326
Pennsylvania Economic Development Finan
0.03
 5.000
06/30/2026
132,613
Central Plains Energy Project
0.03
 5.000
09/01/2030
132,520
New Jersey Economic Development Authori
0.03
 4.375
06/15/2027
132,401
Iowa Finance Authority
0.03
 5.000
03/01/2028
132,214
Lees Summit Industrial Development Auth
0.03
 5.000
08/15/2032
128,746
South Carolina Jobs-Economic Developmen
0.03
 4.000
11/15/2027
127,347
New Hampshire Business Finance Authorit
0.03
 --
12/15/2033
123,734
Town Of Ramapo Ny
0.03
 4.000
05/15/2027
122,365
Tarrant County Cultural Education Facil
0.03
 4.000
05/15/2027
122,307
Puerto Rico Electric Power Authority
0.03
 4.750
07/01/2033
121,682
Connecticut State Health & Educational
0.03
 4.000
07/01/2030
121,305
Hospitals & Higher Education Facilities
0.03
 5.000
07/01/2026
117,318
Sa Energy Acquisition Public Facility C
0.03
 5.500
08/01/2027
114,352
Jea Electric System Revenue
0.03
 5.000
10/01/2029
114,020
County Of Cuyahoga Oh
0.03
 5.000
02/15/2028
112,353
Irvine Unified School District
0.03
 5.000
09/01/2026
111,657
Metropolitan Pier & Exposition Authorit
0.03
 --
06/15/2028
107,714
City Of Anderson In
0.03
 4.750
10/01/2027
106,644
Metropolitan Pier & Exposition Authorit
0.02
 --
06/15/2031
105,554
Central Plains Energy Project
0.02
 5.000
09/01/2028
104,066
Brooklyn Arena Local Development Corp
0.02
 5.000
07/15/2028
102,589
Brooklyn Arena Local Development Corp
0.02
 5.000
07/15/2027
102,567
Pennsylvania Turnpike Commission
0.02
 5.000
06/01/2030
102,359
Public Authority For Colorado Energy
0.02
 6.250
11/15/2028
102,106
Massachusetts Development Finance Agenc
0.02
 5.000
07/01/2028
102,063
Town Of Ramapo Ny
0.02
 4.125
05/15/2028
102,055
Brooklyn Arena Local Development Corp
0.02
 5.000
07/15/2026
101,842
Philadelphia Gas Works Co
0.02
 5.000
10/01/2026
101,396
County Of Howard Md
0.02
 4.000
02/15/2028
100,973
State Of Illinois
0.02
 4.125
11/01/2031
100,378
Palomar Health
0.02
 5.000
11/01/2027
89,274
New Hope Cultural Education Facilities
0.02
 5.250
08/15/2027
74,166
Tsasc Inc/Ny
0.02
 5.000
06/01/2027
73,001
Tsasc Inc/Ny
0.02
 5.000
06/01/2028
72,986
California Municipal Finance Authority
0.01
 5.000
02/01/2028
51,325
California Municipal Finance Authority
0.01
 5.000
02/01/2027
51,251
Public Finance Authority
0.01
 4.100
06/15/2026
50,793
City Of Anoka Mn
0.01
 4.250
11/01/2027
39,842
Philadelphia Authority For Industrial D
0.01
 4.500
03/15/2029
34,118
Illinois Finance Authority
0.01
 5.000
02/15/2027
31,837
Illinois Finance Authority
0.01
 5.400
04/01/2027
30,194
Philadelphia Authority For Industrial D
0.01
 4.500
03/15/2029
26,001
Kentucky Economic Development Finance A
0.01
 5.000
05/15/2026
25,613
Public Finance Authority
0.01
 4.100
06/15/2026
25,437
Housing & Redevelopment Authority Of Th
0.01
 5.000
09/01/2026
25,285
California Pollution Control Financing
0.00
 7.500
07/01/2032
15,300
California Pollution Control Financing
0.00
 7.000
07/01/2026
11,250
Salt Verde Financial Corp
0.00
 5.250
12/01/2028
10,674
County Of Clark Nv
0.00
 2.100
06/01/2031
4,621
New Jersey Transportation Trust Fund Au
0.00
 --
12/15/2032
4,050
Mesquite Health Facilities Development
0.00
 5.000
02/15/2030
1,015
County Of Grand Forks Nd
0.00
 6.625
12/15/2031
30
State Of Nevada Department Of Business
0.00
 5.875
12/15/2027
3
--
5.19
 --
--
21,978,215
Other/Cash
-0.32
 --
--
-1,375,375
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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

Sector Weightings (%) as at 04/30/2026

  • Sector

    % of Net Assets

  • Industrial Development Revenue

    19.83

  • Utilities - Other

    10.24

  • Power

    8.78

  • Local GO

    8.66

  • Hospitals

    7.11

  • Tax

    6.38

  • Health

    6.07

  • Education

    5.69

  • Airport

    5.23

  • Unassigned

    4.75

  • State GO

    4.60

  • Multi-Family Housing

    3.19

  • Leasing COPS & Appropriations

    2.77

  • Transportation

    1.60

  • Water & Sewer

    1.60

  • Misc

    1.51

  • Toll & Turnpike

    0.98

  • Pollution Control

    0.88

  • Tobacco

    0.07

  • Refunded

    0.07

Credit Quality (%) as of 03/31/2026

Composite % of Net Assets
Investment Grade AAA 0.28
AA 5.82
A 19.89
BBB 18.37
Non-Investment Grade BB 22.60
B 3.39
CCC 0.09
Total Investment Grade -- 44.36
Total Non-Investment Grade -- 26.08
Not Rated -- 29.56
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 03/31/2026

  • Years

    Maturity (%)

  • < 1

    4.20

  • 1 - 3

    9.20

  • 3 - 5

    26.20

  • 5 - 7

    24.50

  • 7 - 10

    29.00

  • 10 - 15

    6.90

  • 15 - 20

    0.00

  • 20 - 30

    0.00

  • 30 +

    0.00

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
05/01/2026 05/01/2026 05/06/2026 $ 0.0716 -- -- -- $ 0.07
04/01/2026 04/01/2026 04/07/2026 $ 0.0764 -- -- -- $ 0.08
03/02/2026 03/02/2026 03/05/2026 $ 0.0602 -- -- -- $ 0.06
02/02/2026 02/02/2026 02/05/2026 $ 0.0713 -- -- -- $ 0.07
12/29/2025 12/29/2025 12/31/2025 $ 0.0682 -- -- -- $ 0.07
11/28/2025 11/28/2025 12/03/2025 $ 0.0655 -- -- -- $ 0.07
11/03/2025 11/03/2025 11/06/2025 $ 0.0706 -- -- -- $ 0.07
10/01/2025 10/01/2025 10/06/2025 $ 0.0634 -- -- -- $ 0.06
09/02/2025 09/02/2025 09/05/2025 $ 0.0656 -- -- -- $ 0.07
08/01/2025 08/01/2025 08/06/2025 $ 0.0710 -- -- -- $ 0.07
07/01/2025 07/01/2025 07/07/2025 $ 0.0640 -- -- -- $ 0.06
06/02/2025 06/02/2025 06/05/2025 $ 0.0705 -- -- -- $ 0.07
05/01/2025 05/01/2025 05/06/2025 $ 0.0637 -- -- -- $ 0.06
04/01/2025 04/01/2025 04/04/2025 $ 0.0722 -- -- -- $ 0.07
03/03/2025 03/03/2025 03/06/2025 $ 0.0521 -- -- -- $ 0.05
02/03/2025 02/03/2025 02/06/2025 $ 0.0747 -- -- -- $ 0.07
12/27/2024 12/27/2024 12/30/2024 $ 0.0646 -- -- -- $ 0.06
12/02/2024 12/02/2024 12/05/2024 $ 0.0585 -- -- -- $ 0.06
11/01/2024 11/01/2024 11/06/2024 $ 0.0624 -- -- -- $ 0.06
10/01/2024 10/01/2024 10/04/2024 $ 0.0576 -- -- -- $ 0.06
09/03/2024 09/03/2024 09/06/2024 $ 0.0585 -- -- -- $ 0.06
08/01/2024 08/01/2024 08/06/2024 $ 0.0621 -- -- -- $ 0.06
07/01/2024 07/01/2024 07/05/2024 $ 0.0621 -- -- -- $ 0.06
06/03/2024 06/03/2024 06/06/2024 $ 0.0590 -- -- -- $ 0.06
05/01/2024 05/02/2024 05/07/2024 $ 0.0491 -- -- -- $ 0.05
04/01/2024 04/02/2024 04/05/2024 $ 0.0663 -- -- -- $ 0.07
03/01/2024 03/04/2024 03/07/2024 $ 0.0536 -- -- -- $ 0.05
02/01/2024 02/02/2024 02/07/2024 $ 0.0555 -- -- -- $ 0.06
12/27/2023 12/28/2023 12/29/2023 $ 0.0595 -- -- -- $ 0.06
12/01/2023 12/04/2023 12/07/2023 $ 0.0541 -- -- -- $ 0.05
11/01/2023 11/02/2023 11/07/2023 $ 0.0646 -- -- -- $ 0.06
10/02/2023 10/03/2023 10/06/2023 $ 0.0550 -- -- -- $ 0.06
09/01/2023 09/05/2023 09/08/2023 $ 0.0554 -- -- -- $ 0.06
08/01/2023 08/02/2023 08/10/2023 $ 0.0577 -- -- -- $ 0.06
07/03/2023 07/05/2023 07/07/2023 $ 0.0530 -- -- -- $ 0.05
06/01/2023 06/02/2023 06/07/2023 $ 0.0558 -- -- -- $ 0.06
05/01/2023 05/02/2023 05/05/2023 $ 0.0500 -- -- -- $ 0.05
04/03/2023 04/04/2023 04/10/2023 $ 0.0635 -- -- -- $ 0.06
03/01/2023 03/02/2023 03/07/2023 $ 0.0452 -- -- -- $ 0.05
02/01/2023 02/02/2023 02/07/2023 $ 0.0468 -- -- -- $ 0.05
12/28/2022 12/29/2022 12/30/2022 $ 0.0521 -- -- -- $ 0.05
12/01/2022 12/02/2022 12/07/2022 $ 0.0508 -- -- -- $ 0.05
11/01/2022 11/02/2022 11/07/2022 $ 0.0529 -- -- -- $ 0.05
10/03/2022 10/04/2022 10/07/2022 $ 0.0501 -- -- -- $ 0.05
09/01/2022 09/02/2022 09/08/2022 $ 0.0475 -- -- -- $ 0.05
08/01/2022 08/02/2022 08/05/2022 $ 0.0511 -- -- -- $ 0.05
07/01/2022 07/05/2022 07/08/2022 $ 0.0508 -- -- -- $ 0.05
06/01/2022 06/02/2022 06/07/2022 $ 0.0507 -- -- -- $ 0.05
05/02/2022 05/03/2022 05/06/2022 $ 0.0500 -- -- -- $ 0.05
04/01/2022 04/04/2022 04/07/2022 $ 0.0494 -- -- -- $ 0.05
03/01/2022 03/02/2022 03/07/2022 $ 0.0429 -- -- -- $ 0.04
02/01/2022 02/02/2022 02/07/2022 $ 0.0447 -- -- -- $ 0.04
12/29/2021 12/30/2021 12/31/2021 $ 0.0478 -- -- -- $ 0.05
12/01/2021 12/02/2021 12/07/2021 $ 0.0475 -- -- -- $ 0.05
11/01/2021 11/02/2021 11/05/2021 $ 0.0497 -- -- -- $ 0.05
10/01/2021 10/04/2021 10/07/2021 $ 0.0485 -- -- -- $ 0.05
09/01/2021 09/02/2021 09/08/2021 $ 0.0515 -- -- -- $ 0.05
08/02/2021 08/03/2021 08/06/2021 $ 0.0525 -- -- -- $ 0.05
07/01/2021 07/02/2021 07/08/2021 $ 0.0483 -- -- -- $ 0.05
06/01/2021 06/02/2021 06/07/2021 $ 0.0564 -- -- -- $ 0.06
05/03/2021 05/04/2021 05/07/2021 $ 0.0561 -- -- -- $ 0.06
04/01/2021 04/05/2021 04/08/2021 $ 0.0586 -- -- -- $ 0.06
03/01/2021 03/02/2021 03/05/2021 $ 0.0640 -- -- -- $ 0.06
02/01/2021 02/02/2021 02/05/2021 $ 0.0633 -- -- -- $ 0.06
12/29/2020 12/30/2020 01/05/2021 $ 0.0648 -- -- -- $ 0.06
12/01/2020 12/02/2020 12/07/2020 $ 0.0615 -- -- -- $ 0.06
11/02/2020 11/03/2020 11/06/2020 $ 0.0647 -- -- -- $ 0.06
10/01/2020 10/02/2020 10/07/2020 $ 0.0638 -- -- -- $ 0.06
09/01/2020 09/02/2020 09/08/2020 $ 0.0645 -- -- -- $ 0.06
08/03/2020 08/04/2020 08/07/2020 $ 0.0618 -- -- -- $ 0.06
07/01/2020 07/02/2020 07/08/2020 $ 0.0559 -- -- -- $ 0.06
06/01/2020 06/02/2020 06/05/2020 $ 0.0700 -- -- -- $ 0.07
05/01/2020 05/04/2020 05/07/2020 $ 0.0557 -- -- -- $ 0.06
04/01/2020 04/02/2020 04/07/2020 $ 0.0661 -- -- -- $ 0.07
03/02/2020 03/03/2020 03/06/2020 $ 0.0625 -- -- -- $ 0.06
02/03/2020 02/04/2020 02/07/2020 $ 0.0649 -- -- -- $ 0.06
12/30/2019 12/31/2019 01/06/2020 $ 0.0716 -- -- -- $ 0.07
12/02/2019 12/03/2019 12/06/2019 $ 0.0649 -- -- -- $ 0.06
11/01/2019 11/04/2019 11/07/2019 $ 0.0672 -- -- -- $ 0.07
10/01/2019 10/02/2019 10/07/2019 $ 0.0690 -- -- -- $ 0.07
09/03/2019 09/04/2019 09/09/2019 $ 0.0715 -- -- -- $ 0.07
08/01/2019 08/02/2019 08/07/2019 $ 0.0708 -- -- -- $ 0.07
07/01/2019 07/02/2019 07/08/2019 $ 0.0675 -- -- -- $ 0.07
06/03/2019 06/04/2019 06/07/2019 $ 0.0662 -- -- -- $ 0.07
05/01/2019 05/02/2019 05/07/2019 $ 0.0647 -- -- -- $ 0.06
04/01/2019 04/02/2019 04/05/2019 $ 0.0683 -- -- -- $ 0.07
03/01/2019 03/04/2019 03/07/2019 $ 0.0599 -- -- -- $ 0.06
02/01/2019 02/04/2019 02/07/2019 $ 0.0635 -- -- -- $ 0.06
12/27/2018 12/28/2018 01/03/2019 $ 0.0685 -- -- -- $ 0.07
12/03/2018 12/04/2018 12/07/2018 $ 0.0667 -- -- -- $ 0.07
11/01/2018 11/02/2018 11/07/2018 $ 0.0679 -- -- -- $ 0.07
10/01/2018 10/02/2018 10/05/2018 $ 0.0655 -- -- -- $ 0.07
09/04/2018 09/05/2018 09/10/2018 $ 0.0671 -- -- -- $ 0.07
08/01/2018 08/02/2018 08/07/2018 $ 0.0622 -- -- -- $ 0.06
07/02/2018 07/03/2018 07/09/2018 $ 0.0607 -- -- -- $ 0.06
06/01/2018 06/04/2018 06/07/2018 $ 0.0556 -- -- -- $ 0.06
05/01/2018 05/02/2018 05/07/2018 $ 0.0630 -- -- -- $ 0.06
04/02/2018 04/03/2018 04/06/2018 $ 0.0656 -- -- -- $ 0.07
03/01/2018 03/02/2018 03/07/2018 $ 0.0595 -- -- -- $ 0.06
02/01/2018 02/02/2018 02/07/2018 $ 0.0656 -- -- -- $ 0.07
12/27/2017 12/28/2017 01/03/2018 $ 0.0652 -- -- -- $ 0.07
12/01/2017 12/04/2017 12/07/2017 $ 0.0623 -- -- -- $ 0.06
11/01/2017 11/02/2017 11/07/2017 $ 0.0653 -- -- -- $ 0.07
10/02/2017 10/03/2017 10/06/2017 $ 0.0626 -- -- -- $ 0.06
09/01/2017 09/06/2017 09/08/2017 $ 0.0577 -- -- -- $ 0.06
08/01/2017 08/03/2017 08/07/2017 $ 0.0590 -- -- -- $ 0.06
07/03/2017 07/06/2017 07/10/2017 $ 0.0670 -- -- -- $ 0.07
06/01/2017 06/05/2017 06/07/2017 $ 0.0647 -- -- -- $ 0.06
05/01/2017 05/03/2017 05/05/2017 $ 0.0622 -- -- -- $ 0.06
04/03/2017 04/05/2017 04/07/2017 $ 0.0639 -- -- -- $ 0.06
03/01/2017 03/03/2017 03/07/2017 $ 0.0618 -- -- -- $ 0.06
02/01/2017 02/03/2017 02/07/2017 $ 0.0612 -- -- -- $ 0.06
12/28/2016 12/30/2016 01/04/2017 $ 0.0591 -- -- -- $ 0.06
12/01/2016 12/05/2016 12/07/2016 $ 0.0562 -- -- -- $ 0.06
11/01/2016 11/03/2016 11/07/2016 $ 0.0586 -- -- -- $ 0.06
10/03/2016 10/05/2016 10/07/2016 $ 0.0559 -- -- -- $ 0.06
09/01/2016 09/06/2016 09/08/2016 $ 0.0552 -- -- -- $ 0.06
08/01/2016 08/03/2016 08/05/2016 $ 0.0524 -- -- -- $ 0.05
07/01/2016 07/06/2016 07/08/2016 $ 0.0470 -- -- -- $ 0.05
06/01/2016 06/03/2016 06/07/2016 $ 0.0666 -- -- -- $ 0.07
05/02/2016 05/04/2016 05/06/2016 $ 0.0480 -- -- -- $ 0.05
04/01/2016 04/05/2016 04/07/2016 $ 0.0679 -- -- -- $ 0.07
03/01/2016 03/03/2016 03/07/2016 $ 0.0713 -- -- -- $ 0.07
02/01/2016 02/03/2016 02/05/2016 $ 0.0684 -- -- -- $ 0.07
12/29/2015 12/31/2015 01/05/2016 $ 0.0640 -- -- -- $ 0.06
12/01/2015 12/03/2015 12/07/2015 $ 0.0678 -- -- -- $ 0.07
11/02/2015 11/04/2015 11/06/2015 $ 0.0700 -- -- -- $ 0.07
10/01/2015 10/05/2015 10/07/2015 $ 0.0680 -- -- -- $ 0.07
09/01/2015 09/03/2015 09/08/2015 $ 0.0699 -- -- -- $ 0.07
08/03/2015 08/05/2015 08/07/2015 $ 0.0695 -- -- -- $ 0.07
07/01/2015 07/06/2015 07/08/2015 $ 0.0647 -- -- -- $ 0.06
06/01/2015 06/03/2015 06/05/2015 $ 0.0650 -- -- -- $ 0.07
05/01/2015 05/05/2015 05/07/2015 $ 0.0630 -- -- -- $ 0.06
04/01/2015 04/06/2015 04/08/2015 $ 0.0669 -- -- -- $ 0.07
03/02/2015 03/04/2015 03/06/2015 $ 0.0601 -- -- -- $ 0.06
02/02/2015 02/04/2015 02/06/2015 $ 0.0700 -- -- -- $ 0.07
12/29/2014 12/31/2014 01/05/2015 $ 0.0670 -- -- -- $ 0.07
12/01/2014 12/03/2014 12/05/2014 $ 0.0622 -- -- -- $ 0.06
11/03/2014 11/05/2014 11/07/2014 $ 0.0686 -- -- -- $ 0.07
10/01/2014 10/03/2014 10/07/2014 $ 0.0680 -- -- -- $ 0.07
09/02/2014 09/04/2014 09/08/2014 $ 0.0660 -- -- -- $ 0.07
08/01/2014 08/05/2014 08/07/2014 $ 0.0720 -- -- -- $ 0.07
07/01/2014 07/03/2014 07/08/2014 $ 0.0580 -- -- -- $ 0.06
06/02/2014 06/04/2014 06/06/2014 $ 0.0600 -- -- -- $ 0.06
05/01/2014 05/05/2014 05/07/2014 $ 0.0650 -- -- -- $ 0.07
04/01/2014 04/03/2014 04/07/2014 $ 0.0650 -- -- -- $ 0.07
03/03/2014 03/05/2014 03/07/2014 $ 0.0900 -- -- -- $ 0.09

‡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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