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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
    $17.05

    as of September 18, 2026
  • YTD RETURNS
    0.27%

    as of September 18, 2026
  • Total Net Assets
    $315.43M

    as of September 18, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    3.04%
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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  09/18/2026

Distribution Frequency

Monthly

30-Day SEC Yield

3.04%

Distribution Yield

2.91%

12 Month Yield

2.83%

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 3.04% on 09/18/26. 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) 0.41 0.28 1.11 2.02 3.29 1.17 1.47 1.99
SMB (Market Price) 0.17 0.23 0.55 1.92 3.38 1.12 1.43 1.99
ICE Short AMT-Free Broad National Municipal Index 0.40 0.30 1.12 2.02 3.27 1.17 1.64 2.37
  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 09/18/2026

Download XLS Get holdings
Total Holdings: 328
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.03
 5.000
07/15/2031
3,256,025
Indiana Finance Authority
1.03
 5.000
02/01/2032
3,242,418
Charlotte-Mecklenburg Hospital Authorit
1.02
 5.000
01/15/2049
3,204,095
State Of California
1.00
 5.000
04/01/2030
3,156,078
Southeast Energy Authority A Cooperativ
0.94
 4.000
12/01/2051
2,979,644
Commonwealth Of Massachusetts
0.93
 5.000
05/01/2031
2,918,791
State Of New Jersey
0.88
 2.000
06/01/2030
2,778,448
State Of California
0.85
 5.000
10/01/2031
2,687,588
Kansas Development Finance Authority
0.83
 5.000
11/15/2054
2,632,922
New York City Housing Development Corp
0.81
 3.950
11/01/2064
2,552,667
Commonwealth Of Massachusetts
0.79
 5.000
10/01/2031
2,483,763
California Statewide Communities Develo
0.74
 1.750
09/01/2029
2,334,521
Massachusetts Water Resources Authority
0.69
 5.250
08/01/2030
2,167,647
New Jersey Educational Facilities Autho
0.68
 5.000
07/01/2064
2,152,876
Colorado Health Facilities Authority
0.68
 5.000
11/15/2060
2,149,427
Georgia State Road & Tollway Authority
0.68
 5.000
06/01/2032
2,138,752
County Of King Wa
0.68
 4.000
07/01/2030
2,136,324
Main Street Natural Gas Inc
0.67
 5.000
04/01/2054
2,125,318
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,107,630
State Of Connecticut
0.67
 3.000
01/15/2032
2,102,709
Main Street Natural Gas Inc
0.66
 5.000
05/01/2054
2,089,064
Tennessee Energy Acquisition Corp
0.66
 5.000
05/01/2052
2,088,140
State Of Maryland
0.66
 5.000
03/15/2032
2,076,971
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,069,242
Energy Northwest
0.65
 --
07/01/2027
2,064,436
Texas Water Development Board
0.65
 4.000
10/15/2031
2,060,142
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,053,667
City Of Chicago Il
0.65
 5.000
01/01/2030
2,049,489
Fort Bend Independent School District
0.65
 5.000
08/15/2030
2,038,256
City & County Of Honolulu Hi
0.65
 5.000
03/01/2031
2,037,442
Conroe Independent School District
0.64
 5.000
02/15/2027
2,026,877
State Of Georgia
0.64
 5.000
02/01/2032
2,026,065
State Of California
0.62
 5.000
04/01/2032
1,958,706
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,827,490
Los Angeles Unified School District/Ca
0.58
 5.000
07/01/2030
1,818,793
State Of Connecticut Special Tax Revenu
0.57
 5.000
05/01/2031
1,797,636
State Public School Building Authority
0.56
 5.000
06/01/2032
1,781,250
State Of California
0.52
 5.000
10/01/2031
1,652,955
Connecticut State Health & Educational
0.51
 5.000
07/01/2064
1,604,169
State Of Maryland
0.50
 5.000
03/15/2031
1,588,301
Indiana Finance Authority
0.50
 4.250
11/01/2030
1,575,358
State Of North Carolina
0.50
 5.000
03/01/2030
1,566,375
Wisconsin Health & Educational Faciliti
0.49
 5.000
02/15/2032
1,561,235
New York City Transitional Finance Auth
0.49
 4.000
11/01/2030
1,555,684
Curators Of The University Of Missouri/
0.48
 5.000
11/01/2030
1,514,560
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,503,939
Kern High School District
0.45
 2.000
08/01/2031
1,434,585
Frisco Independent School District
0.43
 4.000
02/15/2032
1,368,493
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,358,670
State Of California
0.42
 5.000
08/01/2027
1,337,169
State Of Ohio
0.42
 5.000
12/15/2031
1,334,804
City Of Columbus Oh
0.42
 5.000
04/01/2031
1,326,761
County Of Allen Oh Hospital Facilities
0.42
 5.000
12/01/2029
1,326,354
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,267,976
Main Street Natural Gas Inc
0.40
 4.000
07/01/2052
1,259,466
Central Plains Energy Project
0.40
 5.000
09/01/2031
1,246,202
Central Florida Expressway Authority
0.39
 4.000
07/01/2031
1,234,077
New York Transportation Development Cor
0.39
 5.000
12/01/2030
1,231,540
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,204,703
Kentucky Public Energy Authority
0.38
 4.000
08/01/2052
1,198,788
State Of North Carolina
0.38
 5.000
06/01/2031
1,184,270
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,165,660
State Of California
0.35
 5.000
09/01/2030
1,099,094
Triborough Bridge & Tunnel Authority
0.35
 5.000
11/15/2031
1,095,034
Detroit City School District
0.35
 5.250
05/01/2032
1,092,775
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,089,658
Commonwealth Of Massachusetts
0.34
 5.000
05/01/2030
1,082,883
State Of California
0.34
 5.000
10/01/2029
1,081,182
Clark County School District
0.34
 5.000
06/15/2032
1,080,201
Texas State Transportation Commission
0.34
 5.000
04/01/2030
1,079,771
Metropolitan Transportation Authority
0.34
 5.000
11/15/2030
1,078,285
State Of Washington
0.34
 5.000
06/01/2031
1,074,318
Minnesota Public Facilities Authority S
0.34
 5.000
03/01/2031
1,072,406
Fairfax County Industrial Development A
0.34
 5.000
05/15/2057
1,065,604
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,061,438
State Of North Carolina
0.34
 5.000
05/01/2031
1,061,220
New York City Municipal Water Finance A
0.34
 5.000
06/15/2032
1,061,098
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,060,747
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,060,051
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,058,977
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,058,587
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,058,475
North Carolina Medical Care Commission
0.34
 5.000
06/01/2055
1,057,874
County Of Allen Oh Hospital Facilities
0.34
 5.000
08/01/2030
1,057,470
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,056,873
North Carolina Municipal Power Agency N
0.33
 5.000
01/01/2032
1,056,258
Denton Independent School District
0.33
 5.000
08/15/2029
1,054,930
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2028
1,054,684
Board Of Regents Of The University Of T
0.33
 5.000
08/15/2029
1,053,797
Texas Municipal Gas Acquisition & Suppl
0.33
 5.500
01/01/2054
1,053,512
Southeast Alabama Gas Supply District/T
0.33
 5.000
08/01/2054
1,051,907
City Of New York Ny
0.33
 5.000
08/01/2029
1,051,895
State Of Louisiana
0.33
 5.000
02/01/2029
1,051,008
University Of Connecticut
0.33
 5.000
04/15/2029
1,050,732
New York City Transitional Finance Auth
0.33
 5.000
07/15/2031
1,049,968
New Jersey Health Care Facilities Finan
0.33
 5.000
07/01/2031
1,049,190
Minneapolis-St Paul Metropolitan Airpor
0.33
 5.000
01/01/2029
1,048,291
New York State Dormitory Authority
0.33
 5.000
03/15/2029
1,047,131
State Of Maryland
0.33
 5.000
03/15/2029
1,046,531
State Of California
0.33
 5.000
10/01/2027
1,044,633
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,043,890
State Of California
0.33
 5.000
11/01/2028
1,042,934
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,041,001
State Of California
0.33
 5.000
09/01/2028
1,039,998
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,039,831
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,039,579
State Of Illinois
0.33
 5.000
11/01/2027
1,038,939
Southern California Public Power Author
0.33
 5.000
07/01/2053
1,038,730
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,038,376
Main Street Natural Gas Inc
0.33
 5.000
09/01/2053
1,038,078
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,036,624
Tobacco Settlement Financing Corp
0.33
 5.000
06/01/2032
1,036,339
City Of Houston Tx
0.33
 5.000
03/01/2032
1,035,239
Main Street Natural Gas Inc
0.33
 5.000
07/01/2053
1,032,696
University Of Minnesota
0.33
 5.000
12/01/2031
1,032,453
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,026,760
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2027
1,025,492
Hillsboro School District No 1j
0.32
 5.000
06/15/2031
1,024,550
San Francisco City & County Public Util
0.32
 5.000
10/01/2026
1,024,354
Louisville/Jefferson County Metropolita
0.32
 5.000
10/01/2047
1,024,300
County Of Harris Tx Toll Road Revenue
0.32
 5.000
08/15/2027
1,022,233
State Of California
0.32
 5.000
09/01/2027
1,022,155
New York State Dormitory Authority
0.32
 5.000
08/01/2030
1,022,052
Commonwealth Of Pennsylvania
0.32
 5.000
09/01/2027
1,021,592
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,020,756
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,020,719
City Of New York Ny
0.32
 5.000
09/01/2027
1,020,186
City Of New York Ny
0.32
 5.000
09/01/2027
1,020,186
Metropolitan Council
0.32
 5.000
12/01/2026
1,019,397
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,019,102
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,017,967
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,016,986
California State Public Works Board
0.32
 4.000
11/01/2031
1,015,815
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,015,076
Black Belt Energy Gas District
0.32
 4.000
06/01/2051
1,007,891
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,005,125
County Of Baltimore Md
0.32
 5.000
03/01/2030
1,002,891
New York City Housing Development Corp
0.32
 3.250
11/01/2064
999,251
State Of Connecticut
0.32
 3.000
06/01/2029
996,275
California Community Choice Financing A
0.32
 4.000
02/01/2052
996,137
State Of Hawaii
0.31
 3.000
10/01/2029
992,554
Indiana Finance Authority
0.31
 5.000
06/01/2029
992,389
Long Island Power Authority
0.31
 3.000
09/01/2055
991,489
New York City Housing Development Corp
0.31
 3.125
11/01/2065
986,322
State Of Florida
0.31
 3.000
06/01/2030
985,163
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
983,338
State Of Minnesota
0.31
 3.000
10/01/2030
983,306
New York City Housing Development Corp
0.31
 3.150
05/01/2066
982,890
State Of California
0.31
 5.000
11/01/2028
963,669
State Of California Department Of Water
0.30
 5.000
12/01/2031
948,948
New York State Dormitory Authority
0.30
 5.000
02/15/2032
945,924
Board Of Regents Of The University Of T
0.30
 5.000
08/15/2031
944,164
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
941,112
Fort Bend Independent School District
0.30
 5.000
02/15/2028
938,890
Collin County Community College Distric
0.30
 4.000
08/15/2031
931,071
State Of Washington
0.28
 5.000
08/01/2031
897,972
Beverly Hills Unified School District C
0.28
 --
08/01/2030
885,676
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
878,731
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
862,345
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
861,918
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
850,369
California State Public Works Board
0.27
 5.000
10/01/2026
850,164
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
827,970
Public Finance Authority
0.26
 4.000
10/01/2041
823,367
California State Public Works Board
0.26
 5.000
10/01/2028
819,348
State Of Illinois
0.26
 5.000
11/01/2026
817,257
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
815,219
State Of California
0.26
 5.000
10/01/2030
807,630
State Of Louisiana
0.25
 5.000
03/01/2032
799,164
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
788,694
County Of Fairfax Va
0.25
 5.000
10/01/2031
786,548
City Of Columbus Oh
0.25
 5.000
04/01/2029
783,239
California Health Facilities Financing
0.25
 5.000
11/15/2031
778,749
State Of California
0.25
 5.000
04/01/2027
775,966
State Of North Carolina
0.25
 3.000
05/01/2031
773,179
County Of Montgomery Md
0.24
 4.000
08/01/2029
772,508
State Of Maryland Department Of Transpo
0.24
 4.000
05/01/2030
767,184
University Of Connecticut
0.24
 5.000
01/15/2030
755,698
Regional Transportation Authority
0.24
 5.000
07/01/2028
750,814
Energy Northwest
0.24
 5.000
07/01/2028
742,552
Virginia Public Building Authority
0.23
 5.000
08/01/2029
736,421
New Jersey Economic Development Authori
0.23
 3.125
07/01/2031
729,001
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
727,509
California State Public Works Board
0.23
 5.000
11/01/2029
726,400
City Of South Miami Health Facilities A
0.23
 5.000
08/15/2029
723,889
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,063
New York State Urban Development Corp
0.22
 5.000
03/15/2027
697,780
City Of New York Ny
0.22
 5.000
04/01/2032
693,559
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
692,655
State Of Illinois
0.22
 3.500
06/01/2029
687,204
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
683,819
New Jersey Health Care Facilities Finan
0.21
 5.000
07/01/2029
676,349
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
665,037
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
660,477
Pennsylvania Housing Finance Agency
0.21
 2.800
10/01/2031
660,003
New York State Dormitory Authority
0.21
 5.000
03/15/2028
657,962
New York State Environmental Facilities
0.20
 5.000
06/15/2028
634,660
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
632,695
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
629,577
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
627,838
City Of Dallas Tx Waterworks & Sewer Sy
0.20
 5.000
10/01/2031
615,038
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
610,120
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
609,464
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,913
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
603,041
State Of North Carolina
0.19
 5.000
05/01/2029
602,814
New York State Dormitory Authority
0.19
 5.000
02/15/2032
601,514
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
591,091
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
579,205
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,224
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
567,519
State Of California
0.18
 5.000
10/01/2027
553,655
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
548,773
Salt River Project Agricultural Improve
0.17
 5.000
01/01/2032
545,658
Massachusetts Development Finance Agenc
0.17
 5.000
05/15/2055
545,415
Energy Northwest
0.17
 5.000
07/01/2031
544,916
City Of New York Ny
0.17
 5.000
08/01/2030
544,734
Utah Transit Authority
0.17
 5.000
12/15/2030
540,112
City Of New York Ny
0.17
 5.000
11/01/2030
538,551
Utah Transit Authority
0.17
 5.000
06/15/2030
537,020
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
534,546
Rutherford Cty Health & Edu Fac Brd
0.17
 5.000
11/15/2048
533,611
City Of New York Ny
0.17
 5.000
10/01/2031
533,222
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
532,618
City Of San Francisco Ca Public Utiliti
0.17
 5.000
11/01/2028
531,679
Southeast Energy Authority A Cooperativ
0.17
 5.000
10/01/2030
531,666
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
531,526
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
531,320
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
530,767
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
530,724
County Of Jefferson Al
0.17
 5.000
09/15/2028
529,965
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
529,428
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
529,381
New York State Dormitory Authority
0.17
 5.000
03/15/2030
529,241
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
527,865
California Community Choice Financing A
0.17
 5.250
01/01/2054
527,440
Austin Independent School District
0.17
 5.000
08/01/2028
525,812
City Of Houston Tx
0.17
 5.000
03/01/2032
524,665
Grand River Dam Authority
0.17
 5.000
06/01/2031
524,622
Arizona Industrial Development Authorit
0.17
 5.000
11/01/2028
523,185
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
522,932
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
522,806
State Of California
0.17
 5.000
10/01/2027
522,316
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
521,849
California Health Facilities Financing
0.17
 5.000
11/01/2027
521,417
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
520,950
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
520,544
State Of Michigan Trunk Line Revenue
0.16
 5.000
11/15/2027
519,916
Tennessee Energy Acquisition Corp
0.16
 5.000
05/01/2053
519,076
California Community Choice Financing A
0.16
 5.000
02/01/2054
518,881
Tobacco Settlement Financing Corp
0.16
 5.000
06/01/2031
518,841
Illinois Finance Authority
0.16
 5.000
01/01/2028
517,824
Kentucky Public Energy Authority
0.16
 5.000
01/01/2055
517,740
New York State Dormitory Authority
0.16
 5.000
02/15/2027
516,752
Shelby County Health Educational & Hous
0.16
 5.000
09/01/2049
516,349
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,094
State Of Maryland
0.16
 5.000
03/15/2028
514,986
Lower Colorado River Authority
0.16
 5.000
05/15/2027
514,899
Los Angeles Department Of Water & Power
0.16
 5.000
07/01/2028
514,627
Montgomery County Industrial Developmen
0.16
 4.100
10/01/2053
514,571
American Municipal Power Inc
0.16
 5.000
02/15/2028
514,283
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2031
513,771
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
513,611
University Of Colorado
0.16
 4.000
06/01/2034
513,541
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,339
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2032
513,152
City Of New York Ny
0.16
 5.000
08/01/2027
511,426
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
510,987
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
510,817
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
510,314
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
510,237
County Of Cook Il
0.16
 5.000
11/15/2028
510,199
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
509,659
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
509,069
State Of Colorado
0.16
 5.000
12/15/2026
508,905
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,857
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
508,199
North Texas Tollway Authority
0.16
 5.000
01/01/2027
508,017
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
507,504
County Of Bexar Tx
0.16
 5.000
06/15/2027
507,408
New York State Housing Finance Agency
0.16
 3.600
11/01/2063
507,027
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
506,960
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
506,955
New York State Dormitory Authority
0.16
 5.000
02/15/2027
506,620
California State University
0.16
 3.125
11/01/2051
506,192
California Community Choice Financing A
0.16
 4.000
05/01/2053
506,119
City Of Forsyth Mt
0.16
 3.875
07/01/2028
506,073
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
505,811
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
505,719
New York State Urban Development Corp
0.16
 5.000
03/15/2027
505,637
Alamo Community College District
0.16
 4.000
08/15/2032
505,635
State Of Maryland
0.16
 5.000
03/15/2028
505,398
Butler County Unified School District N
0.16
 4.000
09/01/2030
503,471
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
500,682
Maryland Community Development Administ
0.16
 3.300
01/01/2029
500,080
Michigan State Housing Development Auth
0.16
 3.700
04/01/2030
498,503
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
496,091
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
493,518
City Of San Antonio Tx Electric & Gas S
0.15
 3.150
02/01/2055
483,497
State Of Maryland Department Of Transpo
0.15
 3.000
09/01/2031
479,925
California State Public Works Board
0.15
 3.000
09/01/2031
476,563
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
457,876
County Of Miami-Dade Fl
0.14
 --
10/01/2031
452,426
State Of Mississippi
0.14
 5.000
10/01/2029
448,055
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
441,262
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,689
Pennsylvania Housing Finance Agency
0.13
 3.200
10/01/2031
419,942
City Of New York Ny
0.13
 5.000
03/01/2027
414,565
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
409,726
State Of Michigan
0.13
 3.000
05/01/2030
404,199
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
378,969
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
377,738
University Of Utah/The
0.12
 5.000
08/01/2031
372,358
City Of Chicago Il
0.12
 5.000
01/01/2027
369,966
Michigan State Housing Development Auth
0.11
 3.100
12/01/2031
358,973
Canadian County Educational Facilities
0.10
 3.000
09/01/2029
321,997
California Health Facilities Financing
0.10
 5.000
08/15/2031
314,372
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
310,918
Long Island Power Authority
0.10
 5.000
09/01/2031
310,239
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
270,800
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
264,936
Texas Water Development Board
0.08
 5.000
04/15/2030
260,579
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
258,341
Maryland Health & Higher Educational Fa
0.08
 --
01/01/2029
256,012
County Of Mecklenburg Nc
0.07
 2.000
12/01/2030
231,260
State Public School Building Authority
0.06
 5.000
06/01/2029
203,567
Jea Electric System Revenue
0.04
 5.000
10/01/2029
114,539
--
1.14
 --
--
3,606,542
Other/Cash
0.08
 --
--
246,049
← 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 08/31/2026

  • Sector

    % of Net Assets

  • State GO

    18.26

  • Local GO

    14.68

  • Utilities - Other

    9.99

  • Tax

    9.92

  • Hospitals

    7.03

  • Power

    6.46

  • Education

    5.78

  • Water & Sewer

    5.56

  • Transportation

    5.34

  • Leasing COPS & Appropriations

    4.81

  • Refunded

    2.77

  • Multi-Family Housing

    2.48

  • Toll & Turnpike

    2.02

  • Airport

    1.00

  • Misc

    0.92

  • Pollution Control

    0.91

  • Tobacco

    0.66

  • Single Family Housing

    0.66

  • Industrial Development Revenue

    0.39

  • Unassigned

    0.22

  • Health

    0.16

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

Composite % of Net Assets
Investment Grade AAA 18.37
AA 49.54
A 19.14
BBB 4.31
Total Investment Grade -- 91.36
Not Rated -- 8.64
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Years to Maturity as at 08/31/2026

  • Years

    Maturity (%)

  • < 1

    14.10

  • 1 - 3

    21.50

  • 3 - 5

    37.60

  • 5 - 7

    22.50

  • 7 - 10

    0.50

  • 10 - 15

    0.60

  • 15 - 20

    0.30

  • 20 - 30

    2.40

  • 30 +

    0.50

Fees

Distributions

Distribution History

Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains
Ex-date Record Date Payable date Dividend
Income‡ 		Short-Term
Capital Gains 		Long-Term
Capital Gains 		Return of
Capital 		Total
Distributions
09/01/2026 09/01/2026 09/04/2026 $ 0.0413 -- -- -- $ 0.04
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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