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SMB VanEck Short Muni ETF Please read important disclosure Close important disclosure Show More Show Less Compare false

SMB
VanEck Short Muni ETF

SMB
VanEck Short Muni ETF

  • NAV
    $17.24

    as of August 11, 2026
  • YTD RETURNS
    1.13%

    as of August 11, 2026
  • Total Net Assets
    $313.73M

    as of August 11, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.87%
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Overview

Why SMB

  • Federally Tax-Exempt IncomeProvides income generally exempt from federal taxes
  • Intermediate Duration FocusDesigned to track an index of short-duration municipal bonds to help mange interest rate risk
  • Investment-Grade QualityEmphasizes investment-grade municipal bonds with high overall credit quality

The VanEck Short Muni ETF (SMB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Short AMT-Free Broad National Municipal Index (MBNS), which is intended to track the overall performance of the U.S. dollar denominated short-term tax-exempt bond market.

Yields  as of  08/11/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.87%

Distribution Yield

3.03%

12 Month Yield

2.78%

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 Muni ETF would have been 2.87% on 08/11/26. 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 02/22/08
SMB (NAV) -0.46 0.11 0.70 2.23 3.11 1.07 1.42 1.98
SMB (Market Price) -0.39 0.35 0.39 2.46 3.29 1.08 1.42 1.99
ICE Short AMT-Free Broad National Municipal Index -0.44 0.12 0.72 2.23 3.08 1.08 1.59 2.35
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 02/22/08
SMB (NAV) 0.33 0.92 1.16 3.29 3.33 1.25 1.49 2.02
SMB (Market Price) 0.47 0.99 0.78 3.26 3.50 1.21 1.49 2.02
ICE Short AMT-Free Broad National Municipal Index 0.34 0.91 1.17 3.27 3.30 1.27 1.67 2.39

*Returns less than one year are not annualized.

Index data prior to March 1, 2022 reflects that of the Bloomberg AMT-Free Short Continuous Municipal Index (LMT1TR). From March 1, 2022 to November 30, 2022, the index data reflects that of the ICE Short AMT-Free Broad National Municipal Transition Index (MSBT). From December 1, 2022 forward the index data reflects that of the Fund's underlying index the ICE Short AMT Free Broad National Municipal Index (MBNS) 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 08/11/2026

Download XLS Get holdings
Total Holdings: 325
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.06
 5.000
07/15/2031
3,323,189
Indiana Finance Authority
1.04
 5.000
02/01/2032
3,266,631
Charlotte-Mecklenburg Hospital Authorit
1.04
 5.000
01/15/2049
3,266,475
State Of California
1.02
 5.000
04/01/2030
3,211,695
Southeast Energy Authority A Cooperativ
0.96
 4.000
12/01/2051
3,017,066
Commonwealth Of Massachusetts
0.94
 5.500
05/01/2031
2,964,381
State Of New Jersey
0.90
 5.500
06/01/2030
2,836,546
State Of California
0.87
 5.000
10/01/2031
2,716,085
Kansas Development Finance Authority
0.86
 5.000
11/15/2054
2,683,163
New York City Housing Development Corp
0.82
 3.950
11/01/2064
2,561,863
Commonwealth Of Massachusetts
0.81
 5.000
10/01/2031
2,526,586
California Statewide Communities Develo
0.76
 1.750
09/01/2029
2,378,894
Black Belt Energy Gas District
0.71
 4.000
10/01/2052
2,233,915
Massachusetts Water Resources Authority
0.70
 5.250
08/01/2030
2,196,771
State Of Connecticut
0.69
 3.000
01/15/2032
2,178,539
Georgia State Road & Tollway Authority
0.69
 5.000
06/01/2032
2,168,283
Main Street Natural Gas Inc
0.69
 5.000
05/01/2054
2,167,289
Main Street Natural Gas Inc
0.68
 5.000
04/01/2054
2,144,368
County Of King Wa
0.68
 4.000
07/01/2030
2,140,215
Tennessee Energy Acquisition Corp
0.68
 5.000
05/01/2052
2,122,926
City & County Of Honolulu Hi
0.67
 5.000
03/01/2031
2,115,755
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,105,973
Texas Water Development Board
0.67
 5.500
10/15/2031
2,099,142
Fort Bend Independent School District
0.67
 5.000
08/15/2030
2,090,451
Conroe Independent School District
0.66
 5.000
02/15/2027
2,074,694
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,073,796
City Of Chicago Il
0.66
 5.000
01/01/2030
2,072,514
Central Florida Expressway Authority
0.66
 5.000
07/01/2038
2,054,810
State Of Georgia
0.65
 5.000
02/01/2032
2,023,713
State Of California
0.64
 5.000
04/01/2032
2,009,932
Los Angeles Unified School District/Ca
0.59
 5.000
07/01/2030
1,844,033
State Of Connecticut Special Tax Revenu
0.58
 5.000
05/01/2031
1,830,002
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,829,918
State Public School Building Authority
0.57
 5.000
06/01/2032
1,777,200
State Of California
0.54
 5.000
10/01/2031
1,695,774
State Of Maryland
0.52
 5.000
03/15/2031
1,644,080
New Jersey Educational Facilities Autho
0.52
 5.000
07/01/2064
1,636,905
Wisconsin Health & Educational Faciliti
0.52
 5.000
02/15/2032
1,619,088
State Of North Carolina
0.52
 5.000
03/01/2030
1,615,614
Indiana Finance Authority
0.51
 4.250
11/01/2030
1,603,488
New York City Transitional Finance Auth
0.50
 4.000
11/01/2030
1,580,975
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,543,442
Pefa Inc
0.49
 5.000
09/01/2049
1,535,286
Main Street Natural Gas Inc
0.49
 4.000
03/01/2050
1,527,998
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,510,749
Kern High School District
0.47
 2.000
08/01/2031
1,475,735
Frisco Independent School District
0.45
 5.500
02/15/2032
1,414,108
State Of Ohio
0.43
 5.000
12/15/2031
1,362,802
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,353,958
State Of California
0.43
 5.000
08/01/2027
1,340,876
County Of Allen Oh Hospital Facilities
0.43
 5.000
12/01/2029
1,340,598
City Of Columbus Oh
0.43
 5.000
04/01/2031
1,338,446
Central Plains Energy Project
0.41
 5.000
09/01/2031
1,296,166
Main Street Natural Gas Inc
0.41
 4.000
07/01/2052
1,284,327
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,261,719
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,255,819
New York Transportation Development Cor
0.40
 5.000
12/01/2030
1,250,088
Kentucky Public Energy Authority
0.39
 4.000
08/01/2052
1,211,408
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,204,049
State Of North Carolina
0.38
 5.000
06/01/2031
1,200,477
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,174,293
State Of California
0.36
 5.000
09/01/2030
1,122,699
Minnesota Public Facilities Authority S
0.36
 5.500
03/01/2031
1,119,812
Triborough Bridge & Tunnel Authority
0.36
 5.000
11/15/2031
1,117,036
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,099,469
Commonwealth Of Massachusetts
0.35
 5.000
05/01/2030
1,096,649
Texas State Transportation Commission
0.35
 5.000
04/01/2030
1,095,371
State Of California
0.35
 5.000
10/01/2029
1,093,810
Board Of Regents Of The University Of T
0.35
 5.000
08/15/2029
1,090,731
Colorado Health Facilities Authority
0.35
 5.000
11/15/2060
1,089,589
Denton Independent School District
0.35
 5.000
08/15/2029
1,089,538
State Of Washington
0.35
 5.500
06/01/2031
1,088,485
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,085,499
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,081,612
State Of Maryland
0.34
 5.000
03/15/2029
1,081,323
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,081,191
State Of California
0.34
 5.000
09/01/2028
1,076,840
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,076,191
Main Street Natural Gas Inc
0.34
 5.500
09/01/2053
1,075,354
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,073,440
City Of Houston Tx
0.34
 5.000
03/01/2032
1,070,991
Main Street Natural Gas Inc
0.34
 5.500
07/01/2053
1,070,720
State Of North Carolina
0.34
 5.000
05/01/2031
1,070,651
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,068,427
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,068,366
Southeast Alabama Gas Supply District/T
0.34
 5.500
08/01/2054
1,067,938
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,067,751
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,067,419
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,066,998
City Of New York Ny
0.34
 5.000
08/01/2029
1,064,321
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,061,077
County Of Allen Oh Hospital Facilities
0.34
 5.000
08/01/2030
1,060,553
Minneapolis-St Paul Metropolitan Airpor
0.34
 5.000
01/01/2029
1,059,666
New Jersey Health Care Facilities Finan
0.34
 5.000
07/01/2031
1,058,568
State Of Louisiana
0.34
 5.000
02/01/2029
1,058,319
Texas Municipal Gas Acquisition & Suppl
0.34
 5.500
01/01/2054
1,057,378
New York City Transitional Finance Auth
0.34
 5.000
07/15/2031
1,055,646
University Of Connecticut
0.34
 5.000
04/15/2029
1,055,304
State Of California
0.33
 5.000
09/01/2027
1,050,512
State Of California
0.33
 5.000
10/01/2027
1,048,533
County Of Harris Tx Toll Road Revenue
0.33
 5.000
08/15/2027
1,048,248
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,048,039
Commonwealth Of Pennsylvania
0.33
 5.000
09/01/2027
1,047,982
City Of New York Ny
0.33
 5.000
09/01/2027
1,047,245
City Of New York Ny
0.33
 5.000
09/01/2027
1,047,245
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,046,696
State Of California
0.33
 5.000
11/01/2028
1,045,741
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,043,369
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,042,615
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,042,010
County Of Baltimore Md
0.33
 5.000
03/01/2030
1,040,402
State Of Illinois
0.33
 5.000
11/01/2027
1,039,405
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,039,012
Energy Northwest
0.33
 --
07/01/2027
1,032,833
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,027,940
New York State Dormitory Authority
0.33
 5.000
08/01/2030
1,027,700
Hillsboro School District No 1j
0.33
 5.000
06/15/2031
1,026,854
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2027
1,026,310
State Of California
0.33
 5.000
09/01/2026
1,023,864
West Virginia Commissioner Of Highways
0.33
 5.000
09/01/2026
1,023,665
San Francisco City & County Public Util
0.33
 5.500
10/01/2026
1,021,907
Iowa Finance Authority
0.33
 5.000
08/01/2031
1,021,835
Louisville/Jefferson County Metropolita
0.33
 5.000
10/01/2047
1,021,477
Pennsylvania Higher Educational Facilit
0.33
 4.000
08/15/2031
1,019,874
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,018,534
Metropolitan Council
0.32
 5.500
12/01/2026
1,017,390
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,017,080
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,015,353
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,015,278
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,015,113
California State Public Works Board
0.32
 4.000
11/01/2031
1,012,765
Long Island Power Authority
0.32
 5.500
09/01/2055
1,012,362
New York City Housing Development Corp
0.32
 5.500
11/01/2064
1,010,417
State Of Connecticut
0.32
 3.000
06/01/2029
1,009,821
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,007,297
State Of Minnesota
0.32
 3.000
10/01/2030
1,007,093
California Community Choice Financing A
0.32
 4.000
02/01/2052
1,006,427
State Of Hawaii
0.32
 3.000
10/01/2029
1,006,170
New York City Housing Development Corp
0.32
 3.125
11/01/2065
1,004,790
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,003,388
State Of Florida
0.32
 3.000
06/01/2030
1,001,305
New York City Housing Development Corp
0.32
 3.150
05/01/2066
1,000,956
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
979,477
Board Of Regents Of The University Of T
0.31
 5.000
08/15/2031
976,359
State Of California
0.31
 5.000
11/01/2028
975,825
New York State Dormitory Authority
0.31
 5.000
02/15/2032
964,833
Fort Bend Independent School District
0.31
 5.000
02/15/2028
964,123
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
953,893
State Of California Department Of Water
0.30
 5.000
12/01/2031
951,604
Collin County Community College Distric
0.30
 4.000
08/15/2031
951,176
State Of Washington
0.29
 5.000
08/01/2031
900,687
Beverly Hills Unified School District C
0.29
 --
08/01/2030
895,032
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
880,795
State Of New Mexico Severance Tax Perma
0.28
 5.000
07/01/2027
862,946
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
861,308
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
858,291
California State Public Works Board
0.27
 5.000
10/01/2026
848,114
Public Finance Authority
0.27
 4.000
10/01/2041
834,790
State Of Louisiana
0.27
 5.000
03/01/2032
832,093
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
830,317
California State Public Works Board
0.26
 5.000
10/01/2028
821,528
State Of California
0.26
 5.000
10/01/2030
817,576
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
816,506
State Of Illinois
0.26
 5.000
11/01/2026
814,939
State Of North Carolina
0.25
 3.000
05/01/2031
793,579
County Of Fairfax Va
0.25
 5.000
10/01/2031
790,069
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
785,534
City Of Columbus Oh
0.25
 5.500
04/01/2029
784,497
California Health Facilities Financing
0.25
 5.000
11/15/2031
781,023
County Of Montgomery Md
0.25
 4.000
08/01/2029
780,454
State Of California
0.25
 5.000
04/01/2027
776,426
State Of Maryland Department Of Transpo
0.25
 4.000
05/01/2030
772,907
University Of Connecticut
0.24
 5.000
01/15/2030
755,010
Regional Transportation Authority
0.24
 5.000
07/01/2028
752,869
New Jersey Economic Development Authori
0.24
 3.125
07/01/2031
746,108
Energy Northwest
0.24
 5.000
07/01/2028
744,742
City Of South Miami Health Facilities A
0.24
 5.000
08/15/2029
742,471
Virginia Public Building Authority
0.24
 5.000
08/01/2029
737,378
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
736,721
California State Public Works Board
0.23
 5.000
11/01/2029
734,690
New York State Urban Development Corp
0.23
 5.000
03/15/2027
714,515
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,408
City Of New York Ny
0.22
 5.000
04/01/2032
699,170
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
691,314
State Of Illinois
0.22
 3.500
06/01/2029
689,871
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
684,659
Pennsylvania Housing Finance Agency
0.22
 2.800
10/01/2031
678,953
New York State Dormitory Authority
0.22
 5.000
03/15/2028
677,921
New Jersey Health Care Facilities Finan
0.22
 5.000
07/01/2029
676,887
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
665,419
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
659,677
King County School District No 411 Issa
0.20
 4.000
12/01/2031
640,793
New York State Environmental Facilities
0.20
 5.000
06/15/2028
638,027
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
632,835
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
632,726
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
632,539
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
624,867
State Of New York Mortgage Agency Homeo
0.20
 3.000
10/01/2031
618,646
New York State Dormitory Authority
0.20
 5.000
02/15/2032
616,145
City Of Dallas Tx Waterworks & Sewer Sy
0.20
 5.000
10/01/2031
612,747
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
608,635
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,039
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
607,837
State Of North Carolina
0.19
 5.000
05/01/2029
602,593
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
596,523
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
577,082
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
576,214
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,641
Salt River Project Agricultural Improve
0.18
 5.000
01/01/2032
556,498
State Of California
0.18
 5.000
10/01/2027
555,723
New York State Dormitory Authority
0.18
 5.000
03/15/2030
550,736
Utah Transit Authority
0.18
 5.000
12/15/2030
550,034
San Bernardino Community College Distri
0.18
 4.000
08/01/2049
549,779
City Of New York Ny
0.17
 5.000
11/01/2030
546,882
Utah Transit Authority
0.17
 5.000
06/15/2030
545,013
County Of Jefferson Al
0.17
 5.000
09/15/2028
542,757
City Of New York Ny
0.17
 5.000
08/01/2030
541,909
Southeast Energy Authority A Cooperativ
0.17
 5.500
10/01/2030
541,108
Rutherford Cty Health & Edu Fac Brd
0.17
 5.500
11/15/2048
541,019
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
540,917
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
540,293
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
539,576
City Of New York Ny
0.17
 5.500
10/01/2031
538,675
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
537,709
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
537,449
City Of Houston Tx
0.17
 5.500
03/01/2032
537,317
California Community Choice Financing A
0.17
 5.250
01/01/2054
536,286
City Of San Francisco Ca Public Utiliti
0.17
 5.500
11/01/2028
535,499
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
534,678
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
534,597
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
534,195
California Community Choice Financing A
0.17
 5.000
02/01/2054
533,883
Shelby County Health Educational & Hous
0.17
 5.500
09/01/2049
533,309
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
532,862
State Of Maryland
0.17
 5.000
03/15/2028
530,582
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
530,054
Austin Independent School District
0.17
 5.000
08/01/2028
528,975
New York State Dormitory Authority
0.17
 5.000
02/15/2027
528,908
American Municipal Power Inc
0.17
 5.000
02/15/2028
528,312
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2031
528,049
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2032
527,376
Arizona Industrial Development Authorit
0.17
 5.500
11/01/2028
524,932
State Of California
0.17
 5.000
10/01/2027
524,267
Grand River Dam Authority
0.17
 5.000
06/01/2031
523,476
California Health Facilities Financing
0.17
 5.000
11/01/2027
523,280
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
522,550
Long Island Power Authority
0.17
 5.000
09/01/2026
522,127
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
521,748
Virginia Commonwealth Transportation Bo
0.17
 5.000
03/15/2027
521,559
State Of Michigan Trunk Line Revenue
0.17
 5.000
11/15/2027
521,370
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
520,899
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
520,818
Tennessee Energy Acquisition Corp
0.17
 5.000
05/01/2053
519,514
Illinois Finance Authority
0.17
 5.000
01/01/2028
519,302
Tobacco Settlement Financing Corp
0.17
 5.000
06/01/2031
519,204
New York State Dormitory Authority
0.17
 5.000
02/15/2027
518,538
City & County Of Honolulu Hi
0.17
 5.000
03/01/2027
518,086
New York State Urban Development Corp
0.17
 5.000
03/15/2027
517,765
State Of Maryland
0.17
 5.000
03/15/2028
517,552
Montgomery County Industrial Developmen
0.16
 5.500
10/01/2053
516,938
University Of Colorado
0.16
 4.000
06/01/2034
516,141
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,111
Lower Colorado River Authority
0.16
 5.500
05/15/2027
515,517
Butler County Unified School District N
0.16
 4.000
09/01/2030
514,095
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
514,057
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,614
Tennessee Energy Acquisition Corp
0.16
 5.625
09/01/2026
513,161
Illinois Finance Authority
0.16
 5.000
08/15/2026
512,452
City Of New York Ny
0.16
 5.000
08/01/2027
512,242
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
512,054
California State Public Works Board
0.16
 5.000
09/01/2026
511,924
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
511,880
New Jersey Health Care Facilities Finan
0.16
 5.500
09/15/2026
511,329
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
509,757
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
509,320
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
509,163
City Of Forsyth Mt
0.16
 3.875
07/01/2028
508,795
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
508,557
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
508,115
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,020
State Of Colorado
0.16
 5.000
12/15/2026
507,883
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
507,657
North Texas Tollway Authority
0.16
 5.000
01/01/2027
507,211
East County Advanced Water Purification
0.16
 3.125
09/01/2026
507,029
California Community Choice Financing A
0.16
 4.000
05/01/2053
506,778
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
506,079
Michigan State Housing Development Auth
0.16
 5.500
04/01/2030
506,051
New York State Housing Finance Agency
0.16
 5.500
11/01/2063
505,920
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
505,533
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
505,208
California State University
0.16
 3.125
11/01/2051
504,966
County Of Bexar Tx
0.16
 5.000
06/15/2027
504,900
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
503,871
Maryland Community Development Administ
0.16
 3.300
01/01/2029
503,791
State Of Maryland Department Of Transpo
0.16
 3.000
09/01/2031
502,994
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
502,887
California State Public Works Board
0.16
 3.000
09/01/2031
499,134
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
495,321
City Of San Antonio Tx Electric & Gas S
0.16
 3.150
02/01/2055
493,232
County Of Miami-Dade Fl
0.15
 --
10/01/2031
461,730
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
459,571
State Of Mississippi
0.14
 5.000
10/01/2029
449,630
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
440,522
Pennsylvania Housing Finance Agency
0.14
 3.200
10/01/2031
429,834
City Of New York Ny
0.14
 5.000
03/01/2027
424,535
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,178
Lone Star College System
0.13
 5.000
02/15/2033
409,938
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
408,663
State Of Michigan
0.13
 3.000
05/01/2030
408,590
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
386,151
County Of Wake Nc
0.12
 5.000
09/01/2026
383,907
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
381,192
University Of Utah/The
0.12
 5.000
08/01/2031
372,794
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
371,906
City Of Chicago Il
0.12
 5.000
01/01/2027
369,024
Canadian County Educational Facilities
0.11
 3.000
09/01/2029
332,093
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
326,755
Long Island Power Authority
0.10
 5.000
09/01/2031
318,442
California Health Facilities Financing
0.10
 5.000
08/15/2031
318,183
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
275,091
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
264,981
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
264,943
Texas Water Development Board
0.08
 5.000
04/15/2030
260,884
County Of Mecklenburg Nc
0.08
 2.000
12/01/2030
236,908
--
1.27
 --
--
3,977,462
Other/Cash
-0.01
 --
--
-46,784
← Scroll for more information →
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

Sector Weightings (%) as at 07/31/2026

  • Sector

    % of Net Assets

  • State GO

    18.20

  • Local GO

    14.27

  • Tax

    10.35

  • Utilities - Other

    10.18

  • Hospitals

    7.00

  • Power

    6.55

  • Education

    6.20

  • Water & Sewer

    5.50

  • Leasing COPS & Appropriations

    4.86

  • Transportation

    4.47

  • Refunded

    3.29

  • Multi-Family Housing

    2.51

  • Toll & Turnpike

    2.07

  • Airport

    1.02

  • Misc

    0.94

  • Pollution Control

    0.92

  • Single Family Housing

    0.67

  • Industrial Development Revenue

    0.40

  • Unassigned

    0.26

  • Tobacco

    0.17

  • Health

    0.16

Credit Quality (%) as of 06/30/2026

Composite % of Net Assets
Investment Grade AAA 19.34
AA 47.97
A 21.07
BBB 4.27
Total Investment Grade -- 92.65
Not Rated -- 7.35
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 06/30/2026

  • Years

    Maturity (%)

  • < 1

    15.20

  • 1 - 3

    21.60

  • 3 - 5

    36.80

  • 5 - 7

    26.40

  • 7 - 10

    0.00

  • 10 - 15

    0.00

  • 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
08/03/2026 08/03/2026 08/06/2026 $ 0.0435 -- -- -- $ 0.04
07/01/2026 07/01/2026 07/07/2026 $ 0.0467 -- -- -- $ 0.05
06/01/2026 06/01/2026 06/04/2026 $ 0.0356 -- -- -- $ 0.04
05/01/2026 05/01/2026 05/06/2026 $ 0.0387 -- -- -- $ 0.04
04/01/2026 04/01/2026 04/07/2026 $ 0.0458 -- -- -- $ 0.05
03/02/2026 03/02/2026 03/05/2026 $ 0.0356 -- -- -- $ 0.04
02/02/2026 02/02/2026 02/05/2026 $ 0.0398 -- -- -- $ 0.04
12/29/2025 12/29/2025 12/31/2025 $ 0.0405 -- -- -- $ 0.04
11/28/2025 11/28/2025 12/03/2025 $ 0.0372 -- -- -- $ 0.04
11/03/2025 11/03/2025 11/06/2025 $ 0.0405 -- -- -- $ 0.04
10/01/2025 10/01/2025 10/06/2025 $ 0.0371 -- -- -- $ 0.04
09/02/2025 09/02/2025 09/05/2025 $ 0.0389 -- -- -- $ 0.04
08/01/2025 08/01/2025 08/06/2025 $ 0.0402 -- -- -- $ 0.04
07/01/2025 07/01/2025 07/07/2025 $ 0.0368 -- -- -- $ 0.04
06/02/2025 06/02/2025 06/05/2025 $ 0.0384 -- -- -- $ 0.04
05/01/2025 05/01/2025 05/06/2025 $ 0.0356 -- -- -- $ 0.04
04/01/2025 04/01/2025 04/04/2025 $ 0.0432 -- -- -- $ 0.04
03/03/2025 03/03/2025 03/06/2025 $ 0.0325 -- -- -- $ 0.03
02/03/2025 02/03/2025 02/06/2025 $ 0.0366 -- -- -- $ 0.04
12/27/2024 12/27/2024 12/30/2024 $ 0.0368 -- -- -- $ 0.04
12/02/2024 12/02/2024 12/05/2024 $ 0.0340 -- -- -- $ 0.03
11/01/2024 11/01/2024 11/06/2024 $ 0.0372 -- -- -- $ 0.04
10/01/2024 10/01/2024 10/04/2024 $ 0.0344 -- -- -- $ 0.03
09/03/2024 09/03/2024 09/06/2024 $ 0.0347 -- -- -- $ 0.03
08/01/2024 08/01/2024 08/06/2024 $ 0.0368 -- -- -- $ 0.04
07/01/2024 07/01/2024 07/05/2024 $ 0.0329 -- -- -- $ 0.03
06/03/2024 06/03/2024 06/06/2024 $ 0.0250 -- -- -- $ 0.03
05/01/2024 05/02/2024 05/07/2024 $ 0.0300 -- -- -- $ 0.03
04/01/2024 04/02/2024 04/05/2024 $ 0.0442 -- -- -- $ 0.04
03/01/2024 03/04/2024 03/07/2024 $ 0.0292 -- -- -- $ 0.03
02/01/2024 02/02/2024 02/07/2024 $ 0.0315 -- -- -- $ 0.03
12/27/2023 12/28/2023 12/29/2023 $ 0.0314 -- -- -- $ 0.03
12/01/2023 12/04/2023 12/07/2023 $ 0.0274 -- -- -- $ 0.03
11/01/2023 11/02/2023 11/07/2023 $ 0.0300 -- -- -- $ 0.03
10/02/2023 10/03/2023 10/06/2023 $ 0.0269 -- -- -- $ 0.03
09/01/2023 09/05/2023 09/08/2023 $ 0.0245 -- -- -- $ 0.02
08/01/2023 08/02/2023 08/10/2023 $ 0.0312 -- -- -- $ 0.03
07/03/2023 07/05/2023 07/07/2023 $ 0.0240 -- -- -- $ 0.02
06/01/2023 06/02/2023 06/07/2023 $ 0.0246 -- -- -- $ 0.02
05/01/2023 05/02/2023 05/05/2023 $ 0.0219 -- -- -- $ 0.02
04/03/2023 04/04/2023 04/10/2023 $ 0.0297 -- -- -- $ 0.03
03/01/2023 03/02/2023 03/07/2023 $ 0.0185 -- -- -- $ 0.02
02/01/2023 02/02/2023 02/07/2023 $ 0.0227 -- -- -- $ 0.02
12/28/2022 12/29/2022 12/30/2022 $ 0.0231 -- -- -- $ 0.02
12/01/2022 12/02/2022 12/07/2022 $ 0.0197 -- -- -- $ 0.02
11/01/2022 11/02/2022 11/07/2022 $ 0.0215 -- -- -- $ 0.02
10/03/2022 10/04/2022 10/07/2022 $ 0.0180 -- -- -- $ 0.02
09/01/2022 09/02/2022 09/08/2022 $ 0.0191 -- -- -- $ 0.02
08/01/2022 08/02/2022 08/05/2022 $ 0.0205 -- -- -- $ 0.02
07/01/2022 07/05/2022 07/08/2022 $ 0.0204 -- -- -- $ 0.02
06/01/2022 06/02/2022 06/07/2022 $ 0.0166 -- -- -- $ 0.02
05/02/2022 05/03/2022 05/06/2022 $ 0.0172 -- -- -- $ 0.02
04/01/2022 04/04/2022 04/07/2022 $ 0.0178 -- -- -- $ 0.02
03/01/2022 03/02/2022 03/07/2022 $ 0.0131 -- -- -- $ 0.01
02/01/2022 02/02/2022 02/07/2022 $ 0.0151 -- -- -- $ 0.02
12/29/2021 12/30/2021 12/31/2021 $ 0.0169 $ 0.0018 $ 0.0226 -- $ 0.04
12/01/2021 12/02/2021 12/07/2021 $ 0.0142 -- -- -- $ 0.01
11/01/2021 11/02/2021 11/05/2021 $ 0.0168 -- -- -- $ 0.02
10/01/2021 10/04/2021 10/07/2021 $ 0.0143 -- -- -- $ 0.01
09/01/2021 09/02/2021 09/08/2021 $ 0.0159 -- -- -- $ 0.02
08/02/2021 08/03/2021 08/06/2021 $ 0.0175 -- -- -- $ 0.02
07/01/2021 07/02/2021 07/08/2021 $ 0.0162 -- -- -- $ 0.02
06/01/2021 06/02/2021 06/07/2021 $ 0.0177 -- -- -- $ 0.02
05/03/2021 05/04/2021 05/07/2021 $ 0.0167 -- -- -- $ 0.02
04/01/2021 04/05/2021 04/08/2021 $ 0.0189 -- -- -- $ 0.02
03/01/2021 03/02/2021 03/05/2021 $ 0.0148 -- -- -- $ 0.01
02/01/2021 02/02/2021 02/05/2021 $ 0.0178 -- -- -- $ 0.02
12/29/2020 12/30/2020 01/05/2021 $ 0.0222 -- -- -- $ 0.02
12/01/2020 12/02/2020 12/07/2020 $ 0.0199 -- -- -- $ 0.02
11/02/2020 11/03/2020 11/06/2020 $ 0.0232 -- -- -- $ 0.02
10/01/2020 10/02/2020 10/07/2020 $ 0.0207 -- -- -- $ 0.02
09/01/2020 09/02/2020 09/08/2020 $ 0.0226 -- -- -- $ 0.02
08/03/2020 08/04/2020 08/07/2020 $ 0.0248 -- -- -- $ 0.02
07/01/2020 07/02/2020 07/08/2020 $ 0.0216 -- -- -- $ 0.02
06/01/2020 06/02/2020 06/05/2020 $ 0.0245 -- -- -- $ 0.02
05/01/2020 05/04/2020 05/07/2020 $ 0.0236 -- -- -- $ 0.02
04/01/2020 04/02/2020 04/07/2020 $ 0.0244 -- -- -- $ 0.02
03/02/2020 03/03/2020 03/06/2020 $ 0.0212 -- -- -- $ 0.02
02/03/2020 02/04/2020 02/07/2020 $ 0.0234 -- -- -- $ 0.02
12/30/2019 12/31/2019 01/06/2020 $ 0.0247 -- -- -- $ 0.02
12/02/2019 12/03/2019 12/06/2019 $ 0.0240 -- -- -- $ 0.02
11/01/2019 11/04/2019 11/07/2019 $ 0.0233 -- -- -- $ 0.02
10/01/2019 10/02/2019 10/07/2019 $ 0.0226 -- -- -- $ 0.02
09/03/2019 09/04/2019 09/09/2019 $ 0.0236 -- -- -- $ 0.02
08/01/2019 08/02/2019 08/07/2019 $ 0.0238 -- -- -- $ 0.02
07/01/2019 07/02/2019 07/08/2019 $ 0.0231 -- -- -- $ 0.02
06/03/2019 06/04/2019 06/07/2019 $ 0.0227 -- -- -- $ 0.02
05/01/2019 05/02/2019 05/07/2019 $ 0.0233 -- -- -- $ 0.02
04/01/2019 04/02/2019 04/05/2019 $ 0.0240 -- -- -- $ 0.02
03/01/2019 03/04/2019 03/07/2019 $ 0.0220 -- -- -- $ 0.02
02/01/2019 02/04/2019 02/07/2019 $ 0.0240 -- -- -- $ 0.02
12/27/2018 12/28/2018 01/03/2019 $ 0.0237 -- -- -- $ 0.02
12/03/2018 12/04/2018 12/07/2018 $ 0.0224 -- -- -- $ 0.02
11/01/2018 11/02/2018 11/07/2018 $ 0.0228 -- -- -- $ 0.02
10/01/2018 10/02/2018 10/05/2018 $ 0.0221 -- -- -- $ 0.02
09/04/2018 09/05/2018 09/10/2018 $ 0.0224 -- -- -- $ 0.02
08/01/2018 08/02/2018 08/07/2018 $ 0.0223 -- -- -- $ 0.02
07/02/2018 07/03/2018 07/09/2018 $ 0.0223 -- -- -- $ 0.02
06/01/2018 06/04/2018 06/07/2018 $ 0.0223 -- -- -- $ 0.02
05/01/2018 05/02/2018 05/07/2018 $ 0.0200 -- -- -- $ 0.02
04/02/2018 04/03/2018 04/06/2018 $ 0.0203 -- -- -- $ 0.02
03/01/2018 03/02/2018 03/07/2018 $ 0.0178 -- -- -- $ 0.02
02/01/2018 02/02/2018 02/07/2018 $ 0.0198 -- -- -- $ 0.02
12/27/2017 12/28/2017 01/03/2018 $ 0.0188 -- -- -- $ 0.02
12/01/2017 12/04/2017 12/07/2017 $ 0.0178 -- -- -- $ 0.02
11/01/2017 11/02/2017 11/07/2017 $ 0.0183 -- -- -- $ 0.02
10/02/2017 10/03/2017 10/06/2017 $ 0.0175 -- -- -- $ 0.02
09/01/2017 09/06/2017 09/08/2017 $ 0.0179 -- -- -- $ 0.02
08/01/2017 08/03/2017 08/07/2017 $ 0.0178 -- -- -- $ 0.02
07/03/2017 07/06/2017 07/10/2017 $ 0.0175 -- -- -- $ 0.02
06/01/2017 06/05/2017 06/07/2017 $ 0.0188 -- -- -- $ 0.02
05/01/2017 05/03/2017 05/05/2017 $ 0.0171 -- -- -- $ 0.02
04/03/2017 04/05/2017 04/07/2017 $ 0.0177 -- -- -- $ 0.02
03/01/2017 03/03/2017 03/07/2017 $ 0.0153 -- -- -- $ 0.02
02/01/2017 02/03/2017 02/07/2017 $ 0.0170 -- -- -- $ 0.02
12/28/2016 12/30/2016 01/04/2017 $ 0.0166 -- -- -- $ 0.02
12/01/2016 12/05/2016 12/07/2016 $ 0.0154 -- -- -- $ 0.02
11/01/2016 11/03/2016 11/07/2016 $ 0.0155 -- -- -- $ 0.02
10/03/2016 10/05/2016 10/07/2016 $ 0.0155 -- -- -- $ 0.02
09/01/2016 09/06/2016 09/08/2016 $ 0.0160 -- -- -- $ 0.02
08/01/2016 08/03/2016 08/05/2016 $ 0.0160 -- -- -- $ 0.02
07/01/2016 07/06/2016 07/08/2016 $ 0.0160 -- -- -- $ 0.02
06/01/2016 06/03/2016 06/07/2016 $ 0.0168 -- -- -- $ 0.02
05/02/2016 05/04/2016 05/06/2016 $ 0.0163 -- -- -- $ 0.02
04/01/2016 04/05/2016 04/07/2016 $ 0.0168 -- -- -- $ 0.02
03/01/2016 03/03/2016 03/07/2016 $ 0.0158 -- -- -- $ 0.02
02/01/2016 02/03/2016 02/05/2016 $ 0.0170 -- -- -- $ 0.02
12/29/2015 12/31/2015 01/05/2016 $ 0.0170 -- -- -- $ 0.02
12/01/2015 12/03/2015 12/07/2015 $ 0.0164 -- -- -- $ 0.02
11/02/2015 11/04/2015 11/06/2015 $ 0.0175 -- -- -- $ 0.02
10/01/2015 10/05/2015 10/07/2015 $ 0.0168 -- -- -- $ 0.02
09/01/2015 09/03/2015 09/08/2015 $ 0.0167 -- -- -- $ 0.02
08/03/2015 08/05/2015 08/07/2015 $ 0.0165 -- -- -- $ 0.02
07/01/2015 07/06/2015 07/08/2015 $ 0.0162 -- -- -- $ 0.02
06/01/2015 06/03/2015 06/05/2015 $ 0.0166 -- -- -- $ 0.02
05/01/2015 05/05/2015 05/07/2015 $ 0.0160 -- -- -- $ 0.02
04/01/2015 04/06/2015 04/08/2015 $ 0.0166 -- -- -- $ 0.02
03/02/2015 03/04/2015 03/06/2015 $ 0.0150 -- -- -- $ 0.01
02/02/2015 02/04/2015 02/06/2015 $ 0.0169 -- -- -- $ 0.02
12/29/2014 12/31/2014 01/05/2015 $ 0.0169 -- -- -- $ 0.02
12/01/2014 12/03/2014 12/05/2014 $ 0.0160 -- -- -- $ 0.02
11/03/2014 11/05/2014 11/07/2014 $ 0.0171 -- -- -- $ 0.02
10/01/2014 10/03/2014 10/07/2014 $ 0.0162 -- -- -- $ 0.02
09/02/2014 09/04/2014 09/08/2014 $ 0.0174 -- -- -- $ 0.02
08/01/2014 08/05/2014 08/07/2014 $ 0.0175 -- -- -- $ 0.02
07/01/2014 07/03/2014 07/08/2014 $ 0.0169 -- -- -- $ 0.02
06/02/2014 06/04/2014 06/06/2014 $ 0.0178 -- -- -- $ 0.02
05/01/2014 05/05/2014 05/07/2014 $ 0.0180 -- -- -- $ 0.02
04/01/2014 04/03/2014 04/07/2014 $ 0.0184 -- -- -- $ 0.02
03/03/2014 03/05/2014 03/07/2014 $ 0.0202 -- -- -- $ 0.02
02/03/2014 02/05/2014 02/07/2014 $ 0.0205 -- -- -- $ 0.02
12/27/2013 12/31/2013 01/03/2014 $ 0.0209 -- -- -- $ 0.02
12/02/2013 12/04/2013 12/06/2013 $ 0.0203 -- -- -- $ 0.02
11/01/2013 11/05/2013 11/07/2013 $ 0.0232 -- -- -- $ 0.02
10/01/2013 10/03/2013 10/07/2013 $ 0.0198 -- -- -- $ 0.02
09/03/2013 09/05/2013 09/09/2013 $ 0.0204 -- -- -- $ 0.02
08/01/2013 08/05/2013 08/07/2013 $ 0.0194 -- -- -- $ 0.02
07/01/2013 07/03/2013 07/08/2013 $ 0.0195 -- -- -- $ 0.02
06/03/2013 06/05/2013 06/07/2013 $ 0.0200 -- -- -- $ 0.02
05/01/2013 05/03/2013 05/07/2013 $ 0.0200 -- -- -- $ 0.02
04/01/2013 04/03/2013 04/05/2013 $ 0.0204 -- -- -- $ 0.02
03/01/2013 03/05/2013 03/07/2013 $ 0.0186 -- -- -- $ 0.02
02/01/2013 02/05/2013 02/07/2013 $ 0.0202 -- -- -- $ 0.02
12/27/2012 12/31/2012 01/03/2013 $ 0.0213 -- $ 0.0110 -- $ 0.03
12/03/2012 12/05/2012 12/07/2012 $ 0.0205 -- -- -- $ 0.02
11/01/2012 11/05/2012 11/07/2012 $ 0.0210 -- -- -- $ 0.02
10/01/2012 10/03/2012 10/05/2012 $ 0.0213 -- -- -- $ 0.02
09/04/2012 09/07/2012 09/10/2012 $ 0.0226 -- -- -- $ 0.02
08/01/2012 08/03/2012 08/07/2012 $ 0.0234 -- -- -- $ 0.02
07/02/2012 07/05/2012 07/09/2012 $ 0.0233 -- -- -- $ 0.02
06/01/2012 06/05/2012 06/07/2012 $ 0.0245 -- -- -- $ 0.02
05/01/2012 05/03/2012 05/07/2012 $ 0.0243 -- -- -- $ 0.02
04/02/2012 04/04/2012 04/09/2012 $ 0.0258 -- -- -- $ 0.03
03/01/2012 03/05/2012 03/07/2012 $ 0.0248 -- -- -- $ 0.02
02/01/2012 02/03/2012 02/07/2012 $ 0.0265 -- -- -- $ 0.03
12/28/2011 12/30/2011 01/04/2012 $ 0.0279 -- $ 0.0002 -- $ 0.03
12/01/2011 12/05/2011 12/07/2011 $ 0.0270 -- -- -- $ 0.03
11/01/2011 11/03/2011 11/07/2011 $ 0.0270 -- -- -- $ 0.03
10/03/2011 10/05/2011 10/07/2011 $ 0.0270 -- -- -- $ 0.03
09/01/2011 09/06/2011 09/08/2011 $ 0.0282 -- -- -- $ 0.03
08/01/2011 08/03/2011 08/05/2011 $ 0.0290 -- -- -- $ 0.03
07/01/2011 07/06/2011 07/08/2011 $ 0.0268 -- -- -- $ 0.03
06/01/2011 06/03/2011 06/07/2011 $ 0.0290 -- -- -- $ 0.03
05/02/2011 05/04/2011 05/06/2011 $ 0.0275 -- -- -- $ 0.03
04/01/2011 04/05/2011 04/07/2011 $ 0.0330 -- -- -- $ 0.03
03/01/2011 03/03/2011 03/07/2011 $ 0.0281 -- -- -- $ 0.03
02/01/2011 02/03/2011 02/07/2011 $ 0.0310 -- -- -- $ 0.03
12/29/2010 12/31/2010 01/05/2011 $ 0.0300 $ 0.0210 $ 0.0370 -- $ 0.09
12/01/2010 12/03/2010 12/07/2010 $ 0.0280 -- -- -- $ 0.03
11/01/2010 11/03/2010 11/05/2010 $ 0.0290 -- -- -- $ 0.03
10/01/2010 10/05/2010 10/07/2010 $ 0.0290 -- -- -- $ 0.03
09/01/2010 09/03/2010 09/08/2010 $ 0.0300 -- -- -- $ 0.03
08/02/2010 08/04/2010 08/06/2010 $ 0.0300 -- -- -- $ 0.03
07/01/2010 07/06/2010 07/08/2010 $ 0.0290 -- -- -- $ 0.03
06/01/2010 06/03/2010 06/07/2010 $ 0.0300 -- -- -- $ 0.03
05/03/2010 05/05/2010 05/07/2010 $ 0.0300 -- -- -- $ 0.03
04/01/2010 04/06/2010 04/08/2010 $ 0.0300 -- -- -- $ 0.03
03/01/2010 03/03/2010 03/05/2010 $ 0.0280 -- -- -- $ 0.03
02/01/2010 02/03/2010 02/05/2010 $ 0.0300 -- -- -- $ 0.03
12/29/2009 12/31/2009 01/05/2010 $ 0.0325 -- -- -- $ 0.03
12/01/2009 12/03/2009 12/07/2009 $ 0.0310 -- -- -- $ 0.03
11/02/2009 11/04/2009 11/06/2009 $ 0.0320 -- -- -- $ 0.03
10/01/2009 10/05/2009 10/07/2009 $ 0.0300 -- -- -- $ 0.03
09/01/2009 09/03/2009 09/08/2009 $ 0.0315 -- -- -- $ 0.03
08/03/2009 08/05/2009 08/07/2009 $ 0.0360 -- -- -- $ 0.04
07/01/2009 07/06/2009 07/08/2009 $ 0.0340 -- -- -- $ 0.03
06/01/2009 06/03/2009 06/05/2009 $ 0.0350 -- -- -- $ 0.04
05/01/2009 05/05/2009 05/07/2009 $ 0.0370 -- -- -- $ 0.04
04/01/2009 04/03/2009 04/07/2009 $ 0.0400 -- -- -- $ 0.04
03/02/2009 03/04/2009 03/06/2009 $ 0.0360 -- -- -- $ 0.04
02/02/2009 02/04/2009 02/06/2009 $ 0.0380 -- -- -- $ 0.04
12/26/2008 12/30/2008 01/06/2009 $ 0.0370 -- -- -- $ 0.04
12/01/2008 12/03/2008 12/05/2008 $ 0.0450 -- -- -- $ 0.04
11/03/2008 11/05/2008 11/07/2008 $ 0.0340 -- -- -- $ 0.03
10/01/2008 10/03/2008 10/07/2008 $ 0.0367 -- -- -- $ 0.04
09/02/2008 09/04/2008 09/09/2008 $ 0.0393 -- -- -- $ 0.04
08/01/2008 08/05/2008 08/07/2008 $ 0.0377 -- -- -- $ 0.04
07/01/2008 07/03/2008 07/08/2008 $ 0.0367 -- -- -- $ 0.04
06/02/2008 06/04/2008 06/06/2008 $ 0.0400 -- -- -- $ 0.04
05/01/2008 05/05/2008 05/07/2008 $ 0.0100 -- -- -- $ 0.01
04/01/2008 04/03/2008 04/08/2008 $ 0.0687 -- -- -- $ 0.07

‡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.

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