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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
    $16.82

    as of September 29, 2026
  • YTD RETURNS
    -1.08%

    as of September 29, 2026
  • Total Net Assets
    $315.39M

    as of September 29, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    3.31%
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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  09/29/2026

Distribution Frequency

Monthly

30-Day SEC Yield

3.31%

Distribution Yield

2.95%

12 Month Yield

2.87%

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 3.31% on 09/29/26. Distributions may vary from time to time.

Performance

Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 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 09/29/2026

Download XLS Get holdings
Total Holdings: 330
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.00
 5.000
07/15/2031
3,172,403
Indiana Finance Authority
1.00
 5.000
02/01/2032
3,161,692
Charlotte-Mecklenburg Hospital Authorit
0.99
 5.000
01/15/2049
3,126,587
State Of California
0.98
 5.000
04/01/2030
3,091,676
Southeast Energy Authority A Cooperativ
0.92
 4.000
12/01/2051
2,907,858
Commonwealth Of Massachusetts
0.90
 5.000
05/01/2031
2,847,777
State Of New Jersey
0.85
 2.000
06/01/2030
2,698,642
State Of California
0.83
 5.000
10/01/2031
2,634,875
State Of Illinois
0.83
 5.500
05/01/2030
2,615,546
Kansas Development Finance Authority
0.81
 5.000
11/15/2054
2,566,742
State Of Maryland
0.81
 5.000
03/15/2032
2,559,985
New York City Housing Development Corp
0.79
 3.950
11/01/2064
2,512,233
Commonwealth Of Massachusetts
0.77
 5.000
10/01/2031
2,420,067
California Statewide Communities Develo
0.73
 1.750
09/01/2029
2,296,363
Massachusetts Water Resources Authority
0.67
 5.250
08/01/2030
2,124,502
County Of King Wa
0.67
 4.000
07/01/2030
2,120,553
Colorado Health Facilities Authority
0.67
 5.000
11/15/2060
2,104,878
California Community Choice Financing A
0.66
 5.500
05/01/2054
2,094,607
Georgia State Road & Tollway Authority
0.66
 5.000
06/01/2032
2,091,610
New Jersey Educational Facilities Autho
0.66
 5.000
07/01/2064
2,090,184
Main Street Natural Gas Inc
0.65
 5.000
04/01/2054
2,069,231
City Of Orlando Fl Tourist Development
0.65
 5.000
11/01/2031
2,059,001
Energy Northwest
0.65
 --
07/01/2027
2,054,739
Tennessee Energy Acquisition Corp
0.65
 5.000
05/01/2052
2,052,384
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,044,985
Main Street Natural Gas Inc
0.64
 5.000
05/01/2054
2,033,253
Texas Water Development Board
0.64
 4.000
10/15/2031
2,030,483
Fort Bend Independent School District
0.64
 5.000
08/15/2030
2,029,565
State Of Connecticut
0.64
 3.000
01/15/2032
2,027,497
Conroe Independent School District
0.64
 5.000
02/15/2027
2,023,626
State Of Georgia
0.64
 5.000
02/01/2032
2,023,411
City Of Chicago Il
0.63
 5.000
01/01/2030
2,002,903
City & County Of Honolulu Hi
0.63
 5.000
03/01/2031
2,002,098
State Of California
0.60
 5.000
04/01/2032
1,906,018
Energy Southeast A Cooperative District
0.57
 5.500
11/01/2053
1,802,328
Los Angeles Unified School District/Ca
0.57
 5.000
07/01/2030
1,790,185
State Public School Building Authority
0.56
 5.000
06/01/2032
1,779,296
State Of Connecticut Special Tax Revenu
0.55
 5.000
05/01/2031
1,754,712
State Of California
0.51
 5.000
10/01/2031
1,609,213
Connecticut State Health & Educational
0.50
 5.000
07/01/2064
1,572,926
State Of Maryland
0.49
 5.000
03/15/2031
1,556,414
Tobacco Settlement Financing Corp
0.49
 5.000
06/01/2032
1,546,294
State Of North Carolina
0.49
 5.000
03/01/2030
1,544,566
Indiana Finance Authority
0.49
 4.250
11/01/2030
1,542,988
Wisconsin Health & Educational Faciliti
0.49
 5.000
02/15/2032
1,535,490
New York City Transitional Finance Auth
0.48
 4.000
11/01/2030
1,519,153
Metropolitan Transportation Authority
0.47
 5.000
11/15/2031
1,492,323
Curators Of The University Of Missouri/
0.47
 5.000
11/01/2030
1,484,952
Kern High School District
0.44
 2.000
08/01/2031
1,384,769
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,359,687
Frisco Independent School District
0.42
 4.000
02/15/2032
1,331,040
State Of California
0.42
 5.000
08/01/2027
1,330,661
City Of Columbus Oh
0.41
 5.000
04/01/2031
1,305,695
County Of Allen Oh Hospital Facilities
0.41
 5.000
12/01/2029
1,300,277
State Of Ohio
0.41
 5.000
12/15/2031
1,299,328
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,269,165
Main Street Natural Gas Inc
0.40
 4.000
07/01/2052
1,256,717
Central Plains Energy Project
0.39
 5.000
09/01/2031
1,221,439
Central Florida Expressway Authority
0.38
 4.000
07/01/2031
1,205,451
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,203,198
New York Transportation Development Cor
0.38
 5.000
12/01/2030
1,200,465
Kentucky Public Energy Authority
0.37
 4.000
08/01/2052
1,185,419
State Of North Carolina
0.37
 5.000
06/01/2031
1,162,781
Jefferson County School District R-1
0.36
 5.000
12/15/2030
1,151,141
State Of California
0.35
 5.000
09/01/2030
1,099,797
Clark County School District
0.34
 5.000
06/15/2032
1,073,367
Detroit City School District
0.34
 5.250
05/01/2032
1,066,446
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2031
1,066,350
Texas State Transportation Commission
0.34
 5.000
04/01/2030
1,064,120
Commonwealth Of Massachusetts
0.34
 5.000
05/01/2030
1,060,923
Connecticut State Health & Educational
0.34
 5.000
07/01/2064
1,060,159
State Of California
0.33
 5.000
10/01/2029
1,058,291
State Of Washington
0.33
 5.000
06/01/2031
1,052,801
Metropolitan Transportation Authority
0.33
 5.000
11/15/2030
1,051,672
County Of Miami-Dade Fl Water & Sewer S
0.33
 5.000
10/01/2028
1,049,416
County Of Allen Oh Hospital Facilities
0.33
 5.000
08/01/2030
1,049,296
North Carolina Medical Care Commission
0.33
 5.000
06/01/2055
1,048,053
Minnesota Public Facilities Authority S
0.33
 5.000
03/01/2031
1,046,605
Regional Transportation District Sales
0.33
 5.000
11/01/2028
1,046,309
Fairfax County Industrial Development A
0.33
 5.000
05/15/2057
1,045,643
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2028
1,045,178
State Of North Carolina
0.33
 5.000
05/01/2031
1,045,057
New York City Municipal Water Finance A
0.33
 5.000
06/15/2032
1,044,255
California Community Choice Financing A
0.33
 5.250
11/01/2054
1,044,176
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2028
1,042,860
Clark County School District
0.33
 5.000
06/15/2032
1,042,633
University Of Connecticut
0.33
 5.000
04/15/2029
1,041,260
New York City Transitional Finance Auth
0.33
 5.000
08/01/2031
1,040,846
New York City Transitional Finance Auth
0.33
 5.000
07/15/2031
1,040,614
State Of California
0.33
 5.000
10/01/2027
1,038,395
Denton Independent School District
0.33
 5.000
08/15/2029
1,038,205
Texas Municipal Gas Acquisition & Suppl
0.33
 5.500
01/01/2054
1,038,019
Board Of Regents Of The University Of T
0.33
 5.000
08/15/2029
1,037,105
North Carolina Municipal Power Agency N
0.33
 5.000
01/01/2032
1,036,975
Metropolitan Government Nashville & Dav
0.33
 5.000
07/01/2031
1,036,824
State Of California
0.33
 5.000
11/01/2028
1,036,034
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,035,919
Piedmont Municipal Power Agency
0.33
 5.000
01/01/2032
1,035,660
State Of Louisiana
0.33
 5.000
02/01/2029
1,035,519
City Of New York Ny
0.33
 5.000
08/01/2029
1,035,456
Minneapolis-St Paul Metropolitan Airpor
0.33
 5.000
01/01/2029
1,034,500
New Jersey Health Care Facilities Finan
0.33
 5.000
07/01/2031
1,033,283
State Of Maryland
0.33
 5.000
03/15/2029
1,033,020
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,032,812
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,032,799
New York State Dormitory Authority
0.33
 5.000
03/15/2029
1,032,122
State Of Illinois
0.33
 5.000
11/01/2027
1,030,958
Southeast Alabama Gas Supply District/T
0.33
 5.000
08/01/2054
1,030,672
City Of New York Ny
0.33
 5.000
03/01/2032
1,029,198
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,028,979
State Of California
0.33
 5.000
09/01/2028
1,028,749
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,028,729
University Of Minnesota
0.32
 5.000
12/01/2031
1,026,829
City Of Houston Tx
0.32
 5.000
03/01/2032
1,025,887
San Francisco City & County Public Util
0.32
 5.000
10/01/2026
1,025,045
Louisville/Jefferson County Metropolita
0.32
 5.000
10/01/2047
1,025,039
Southern California Public Power Author
0.32
 5.000
07/01/2053
1,024,935
New Jersey Educational Facilities Autho
0.32
 5.000
07/01/2028
1,022,345
California Community Choice Financing A
0.32
 5.000
07/01/2053
1,021,207
Commonwealth Of Pennsylvania
0.32
 5.000
07/15/2027
1,020,627
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,020,579
Hillsboro School District No 1j
0.32
 5.000
06/15/2031
1,020,478
Metropolitan Council
0.32
 5.000
12/01/2026
1,019,140
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,018,883
Main Street Natural Gas Inc
0.32
 5.000
09/01/2053
1,018,245
Main Street Natural Gas Inc
0.32
 5.000
07/01/2053
1,017,449
County Of Harris Tx Toll Road Revenue
0.32
 5.000
08/15/2027
1,016,994
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,016,879
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,016,577
State Of California
0.32
 5.000
09/01/2027
1,016,531
Kentucky Public Energy Authority
0.32
 5.000
01/01/2055
1,016,530
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,016,194
Commonwealth Of Pennsylvania
0.32
 5.000
09/01/2027
1,015,716
City Of New York Ny
0.32
 5.000
09/01/2027
1,014,632
City Of New York Ny
0.32
 5.000
09/01/2027
1,014,632
New York State Dormitory Authority
0.32
 5.000
08/01/2030
1,012,468
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,006,217
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,001,412
California State Public Works Board
0.31
 4.000
11/01/2031
993,174
Black Belt Energy Gas District
0.31
 4.000
06/01/2051
989,589
County Of Baltimore Md
0.31
 5.000
03/01/2030
985,497
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
983,139
California Community Choice Financing A
0.31
 4.000
02/01/2052
983,041
Long Island Power Authority
0.31
 3.000
09/01/2055
979,846
Indiana Finance Authority
0.31
 5.000
06/01/2029
977,601
New York City Housing Development Corp
0.31
 3.250
11/01/2064
976,571
State Of Connecticut
0.31
 3.000
06/01/2029
973,789
State Of Hawaii
0.31
 3.000
10/01/2029
968,674
New York City Housing Development Corp
0.30
 3.125
11/01/2065
958,181
State Of Florida
0.30
 3.000
06/01/2030
957,244
New York City Housing Development Corp
0.30
 3.150
05/01/2066
954,504
State Of Minnesota
0.30
 3.000
10/01/2030
953,825
State Of California
0.30
 5.000
11/01/2028
951,957
New York State Dormitory Authority
0.30
 5.000
02/15/2032
946,451
State Of California Department Of Water
0.30
 5.000
12/01/2031
943,616
Fort Bend Independent School District
0.29
 5.000
02/15/2028
930,990
Board Of Regents Of The University Of T
0.29
 5.000
08/15/2031
929,001
State Of Florida Department Of Transpor
0.29
 5.000
07/01/2030
922,783
Collin County Community College Distric
0.29
 4.000
08/15/2031
921,979
State Of Washington
0.28
 5.000
08/01/2031
893,319
Northside Independent School District
0.28
 5.000
08/15/2032
892,381
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
874,766
Beverly Hills Unified School District C
0.27
 --
08/01/2030
866,286
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
860,289
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
858,706
California State Public Works Board
0.27
 5.000
10/01/2026
850,784
Georgia State Road & Tollway Authority
0.26
 5.000
06/01/2029
837,680
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
823,583
State Of Illinois
0.26
 5.000
11/01/2026
817,226
California State Public Works Board
0.26
 5.000
10/01/2028
814,630
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
812,227
Public Finance Authority
0.26
 4.000
10/01/2041
806,624
State Of California
0.25
 5.000
10/01/2030
791,509
State Of Louisiana
0.25
 5.000
03/01/2032
782,447
County Of Fairfax Va
0.25
 5.000
10/01/2031
779,507
City Of Columbus Oh
0.25
 5.000
04/01/2029
778,570
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
774,995
California Health Facilities Financing
0.25
 5.000
11/15/2031
774,624
State Of California
0.24
 5.000
04/01/2027
774,089
County Of Montgomery Md
0.24
 4.000
08/01/2029
760,227
State Of Maryland Department Of Transpo
0.24
 4.000
05/01/2030
758,945
University Of Connecticut
0.24
 5.000
01/15/2030
754,855
Regional Transportation Authority
0.24
 5.000
07/01/2028
748,754
State Of North Carolina
0.24
 3.000
05/01/2031
747,906
Energy Northwest
0.23
 5.000
07/01/2028
740,608
Virginia Public Building Authority
0.23
 5.000
08/01/2029
733,216
City Of South Miami Health Facilities A
0.23
 5.000
08/15/2029
718,799
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
716,547
California State Public Works Board
0.23
 5.000
11/01/2029
714,786
New Jersey Economic Development Authori
0.22
 3.125
07/01/2031
710,996
Illinois Finance Authority
0.22
 5.000
07/01/2027
700,102
New York State Urban Development Corp
0.22
 5.000
03/15/2027
696,269
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
691,909
City Of New York Ny
0.22
 5.000
04/01/2032
683,808
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
682,342
State Of Illinois
0.21
 3.500
06/01/2029
676,064
New Jersey Health Care Facilities Finan
0.21
 5.000
07/01/2029
673,061
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
662,292
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
660,013
New York State Dormitory Authority
0.21
 5.000
03/15/2028
652,262
Pennsylvania Housing Finance Agency
0.20
 2.800
10/01/2031
637,402
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
630,236
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
628,302
New York State Environmental Facilities
0.20
 5.000
06/15/2028
628,060
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
623,383
City Of Dallas Tx Waterworks & Sewer Sy
0.19
 5.000
10/01/2031
615,483
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
609,894
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
609,770
Virginia College Building Authority
0.19
 5.000
02/01/2027
607,827
State Of North Carolina
0.19
 5.000
05/01/2029
601,084
New York State Dormitory Authority
0.19
 5.000
02/15/2032
600,209
State Of Illinois Sales Tax Revenue
0.18
 4.000
06/15/2028
583,549
State Of New York Mortgage Agency Homeo
0.18
 3.000
10/01/2031
582,623
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
579,628
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
565,881
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
554,857
State Of California
0.17
 5.000
10/01/2027
550,349
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
546,068
City Of New York Ny
0.17
 5.000
08/01/2030
544,957
Salt River Project Agricultural Improve
0.17
 5.000
01/01/2032
533,444
Energy Northwest
0.17
 5.000
07/01/2031
531,987
Massachusetts Development Finance Agenc
0.17
 5.000
05/15/2055
531,780
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
531,459
Utah Transit Authority
0.17
 5.000
12/15/2030
528,467
County Of Jefferson Al
0.17
 5.000
09/15/2028
527,674
City Of New York Ny
0.17
 5.000
11/01/2030
527,479
Utah Transit Authority
0.17
 5.000
06/15/2030
526,666
City Of New York Ny
0.17
 5.000
10/01/2031
524,694
Grand River Dam Authority
0.17
 5.000
06/01/2031
524,421
City Of Houston Tx
0.17
 5.000
03/01/2032
524,175
City Of San Francisco Ca Public Utiliti
0.17
 5.000
11/01/2028
524,066
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
523,932
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
523,418
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
523,178
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
523,130
Rutherford Cty Health & Edu Fac Brd
0.17
 5.000
11/15/2048
522,592
County Of Clark Department Of Aviation
0.16
 5.000
07/01/2029
521,330
Miami Beach Redevelopment Agency
0.16
 5.000
02/01/2031
521,077
California Community Choice Financing A
0.16
 5.250
01/01/2054
520,812
Orange County Convention Center/Orlando
0.16
 5.000
10/01/2030
520,779
Chicago O'Hare International Airport
0.16
 5.000
01/01/2030
520,686
Kentucky Public Energy Authority
0.16
 5.250
06/01/2055
520,641
Austin Independent School District
0.16
 5.000
08/01/2028
519,945
Main Street Natural Gas Inc
0.16
 5.000
12/01/2052
519,581
State Of California
0.16
 5.000
10/01/2027
519,197
New York State Dormitory Authority
0.16
 5.000
03/15/2030
519,148
Southeast Energy Authority A Cooperativ
0.16
 5.000
10/01/2030
518,997
Arizona Industrial Development Authorit
0.16
 5.000
11/01/2028
518,334
Buckeye Tobacco Settlement Financing Au
0.16
 5.000
06/01/2032
517,332
State Of Michigan Trunk Line Revenue
0.16
 5.000
11/15/2027
516,399
Triborough Bridge & Tunnel Authority
0.16
 5.000
11/15/2027
516,344
Tobacco Settlement Financing Corp
0.16
 5.000
06/01/2031
515,980
California Health Facilities Financing
0.16
 5.000
11/01/2027
515,978
New York State Dormitory Authority
0.16
 5.000
02/15/2027
515,949
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
514,916
Tennessee Energy Acquisition Corp
0.16
 5.000
05/01/2053
514,330
Illinois Finance Authority
0.16
 5.000
01/01/2028
513,883
New York City Industrial Development Ag
0.16
 5.000
03/01/2029
513,658
Lower Colorado River Authority
0.16
 5.000
05/15/2027
512,919
Montgomery County Industrial Developmen
0.16
 4.100
10/01/2053
512,526
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
511,916
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
511,172
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
510,909
Los Angeles Department Of Water & Power
0.16
 5.000
07/01/2028
510,718
State Of Maryland
0.16
 5.000
03/15/2028
510,363
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
510,309
County Of Cook Il
0.16
 5.000
11/15/2028
510,239
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
510,175
American Municipal Power Inc
0.16
 5.000
02/15/2028
510,124
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
509,536
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2031
509,490
California Community Choice Financing A
0.16
 5.000
02/01/2054
509,401
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
509,067
City Of New York Ny
0.16
 5.000
08/01/2027
508,967
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2032
508,889
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
508,834
Shelby County Health Educational & Hous
0.16
 5.000
09/01/2049
508,671
State Of Colorado
0.16
 5.000
12/15/2026
508,646
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,604
University Of Colorado
0.16
 4.000
06/01/2034
508,317
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
507,830
County Of Bexar Tx
0.16
 5.000
06/15/2027
507,793
North Texas Tollway Authority
0.16
 5.000
01/01/2027
507,499
California State University
0.16
 3.125
11/01/2051
506,361
New York State Dormitory Authority
0.16
 5.000
02/15/2027
505,832
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
504,922
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
504,598
New York State Urban Development Corp
0.16
 5.000
03/15/2027
504,543
State Of Maryland
0.16
 5.000
03/15/2028
504,173
California Community Choice Financing A
0.16
 4.000
05/01/2053
500,154
Butler County Unified School District N
0.16
 4.000
09/01/2030
499,860
City Of Forsyth Mt
0.16
 3.875
07/01/2028
499,126
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
497,754
Alamo Community College District
0.16
 4.000
08/15/2032
496,469
New York State Housing Finance Agency
0.16
 3.600
11/01/2063
496,242
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
495,699
Maryland Community Development Administ
0.15
 3.300
01/01/2029
489,187
Wisconsin Health & Educational Faciliti
0.15
 4.000
08/15/2031
488,871
Michigan State Housing Development Auth
0.15
 3.700
04/01/2030
485,359
Commonwealth Of Pennsylvania
0.15
 3.000
01/01/2031
478,128
City Of San Antonio Tx Electric & Gas S
0.15
 3.150
02/01/2055
471,353
State Of Maryland Department Of Transpo
0.15
 3.000
09/01/2031
463,335
California State Public Works Board
0.15
 3.000
09/01/2031
460,154
New York City Transitional Finance Auth
0.14
 5.000
11/01/2027
454,060
State Of Mississippi
0.14
 5.000
10/01/2029
445,754
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
441,660
County Of Miami-Dade Fl
0.14
 --
10/01/2031
440,504
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,393
City Of New York Ny
0.13
 5.000
03/01/2027
413,796
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
410,018
Pennsylvania Housing Finance Agency
0.13
 3.200
10/01/2031
405,838
State Of Michigan
0.12
 3.000
05/01/2030
392,972
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
371,538
University Of Utah/The
0.12
 5.000
08/01/2031
370,951
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
369,628
City Of Chicago Il
0.12
 5.000
01/01/2027
369,467
Michigan State Housing Development Auth
0.11
 3.100
12/01/2031
346,680
California Health Facilities Financing
0.10
 5.000
08/15/2031
314,786
Canadian County Educational Facilities
0.10
 3.000
09/01/2029
314,320
Long Island Power Authority
0.10
 5.000
09/01/2031
308,763
Lancaster County School District/Sc
0.09
 3.250
03/01/2032
299,682
Kentucky State Property & Building Comm
0.08
 5.000
10/01/2030
265,329
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
263,700
Texas Water Development Board
0.08
 5.000
04/15/2030
258,513
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
257,208
Maryland Health & Higher Educational Fa
0.08
 --
01/01/2029
252,847
County Of Mecklenburg Nc
0.07
 2.000
12/01/2030
223,938
State Public School Building Authority
0.06
 5.000
06/01/2029
203,411
Jea Electric System Revenue
0.04
 5.000
10/01/2029
113,823
--
1.00
 --
--
3,174,791
Other/Cash
-0.10
 --
--
-318,320
← 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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