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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
    $17.16

    as of September 08, 2026
  • YTD RETURNS
    0.94%

    as of September 08, 2026
  • Total Net Assets
    $316.67M

    as of September 08, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.92%
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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  09/08/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.92%

Distribution Yield

2.89%

12 Month Yield

2.81%

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 2.92% on 09/08/26. Distributions may vary from time to time.

Performance

Average Annual Total Returns* (%)

View All ETFs View All Indices
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE 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 09/07/2026

Download XLS Get holdings
Total Holdings: 331
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.04
 5.000
07/15/2031
3,302,250
Charlotte-Mecklenburg Hospital Authorit
1.02
 5.000
01/15/2049
3,244,742
Indiana Finance Authority
1.02
 5.000
02/01/2032
3,243,745
State Of California
1.01
 5.000
04/01/2030
3,185,709
Southeast Energy Authority A Cooperativ
0.95
 4.000
12/01/2051
3,011,276
Commonwealth Of Massachusetts
0.93
 5.000
05/01/2031
2,958,228
State Of New Jersey
0.89
 2.000
06/01/2030
2,820,313
State Of California
0.85
 5.000
10/01/2031
2,706,866
Kansas Development Finance Authority
0.84
 5.000
11/15/2054
2,665,739
New York City Housing Development Corp
0.81
 3.950
11/01/2064
2,563,157
Commonwealth Of Massachusetts
0.80
 5.000
10/01/2031
2,519,989
California Statewide Communities Develo
0.74
 1.750
09/01/2029
2,353,689
Massachusetts Water Resources Authority
0.69
 5.250
08/01/2030
2,188,847
New Jersey Educational Facilities Autho
0.69
 5.000
07/01/2064
2,177,502
Colorado Health Facilities Authority
0.69
 5.000
11/15/2060
2,173,484
Georgia State Road & Tollway Authority
0.68
 5.000
06/01/2032
2,157,792
State Of Connecticut
0.68
 3.000
01/15/2032
2,144,601
State Of Maryland
0.68
 5.000
03/15/2032
2,141,317
County Of King Wa
0.68
 4.000
07/01/2030
2,141,042
Main Street Natural Gas Inc
0.68
 5.000
04/01/2054
2,137,724
Tennessee Energy Acquisition Corp
0.67
 5.000
05/01/2052
2,114,452
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,113,457
Main Street Natural Gas Inc
0.67
 5.000
05/01/2054
2,110,052
Texas Water Development Board
0.66
 4.000
10/15/2031
2,080,809
City Of Orlando Fl Tourist Development
0.65
 5.000
11/01/2031
2,072,898
City Of Chicago Il
0.65
 5.000
01/01/2030
2,069,022
Energy Northwest
0.65
 --
07/01/2027
2,068,070
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,056,356
City & County Of Honolulu Hi
0.65
 5.000
03/01/2031
2,055,326
Fort Bend Independent School District
0.64
 5.000
08/15/2030
2,040,622
Conroe Independent School District
0.64
 5.000
02/15/2027
2,026,802
State Of Georgia
0.64
 5.000
02/01/2032
2,025,313
State Of California
0.63
 5.000
04/01/2032
1,986,110
Los Angeles Unified School District/Ca
0.58
 5.000
07/01/2030
1,840,764
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,827,851
State Of Connecticut Special Tax Revenu
0.58
 5.000
05/01/2031
1,821,060
State Public School Building Authority
0.56
 5.000
06/01/2032
1,780,443
State Of California
0.53
 5.000
10/01/2031
1,674,072
State Of Maryland
0.52
 5.000
03/15/2031
1,637,457
Connecticut State Health & Educational
0.51
 5.000
07/01/2064
1,621,743
Indiana Finance Authority
0.50
 4.250
11/01/2030
1,596,981
State Of North Carolina
0.50
 5.000
03/01/2030
1,574,891
Wisconsin Health & Educational Faciliti
0.50
 5.000
02/15/2032
1,574,822
New York City Transitional Finance Auth
0.50
 4.000
11/01/2030
1,571,297
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,537,306
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,508,796
Kern High School District
0.46
 2.000
08/01/2031
1,461,787
Frisco Independent School District
0.44
 4.000
02/15/2032
1,381,379
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,355,845
State Of Ohio
0.43
 5.000
12/15/2031
1,354,531
State Of California
0.42
 5.000
08/01/2027
1,338,906
County Of Allen Oh Hospital Facilities
0.42
 5.000
12/01/2029
1,337,423
City Of Columbus Oh
0.42
 5.000
04/01/2031
1,334,981
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,265,255
Main Street Natural Gas Inc
0.40
 4.000
07/01/2052
1,262,044
Central Plains Energy Project
0.40
 5.000
09/01/2031
1,262,018
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,251,910
New York Transportation Development Cor
0.39
 5.000
12/01/2030
1,244,235
Kentucky Public Energy Authority
0.38
 4.000
08/01/2052
1,210,167
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,205,692
State Of North Carolina
0.38
 5.000
06/01/2031
1,195,009
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,171,570
Detroit City School District
0.35
 5.250
05/01/2032
1,112,628
Triborough Bridge & Tunnel Authority
0.35
 5.000
11/15/2031
1,110,425
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,104,569
State Of California
0.35
 5.000
09/01/2030
1,097,642
Commonwealth Of Massachusetts
0.35
 5.000
05/01/2030
1,094,728
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,092,587
Texas State Transportation Commission
0.34
 5.000
04/01/2030
1,091,860
State Of California
0.34
 5.000
10/01/2029
1,087,530
Clark County School District
0.34
 5.000
06/15/2032
1,085,941
Minnesota Public Facilities Authority S
0.34
 5.000
03/01/2031
1,084,393
State Of Washington
0.34
 5.000
06/01/2031
1,083,635
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,079,229
State Of Maryland
0.34
 5.000
03/15/2029
1,079,101
New York City Municipal Water Finance A
0.34
 5.000
06/15/2032
1,076,349
Fairfax County Industrial Development A
0.34
 5.000
05/15/2057
1,075,365
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,074,471
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,070,735
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,068,971
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,067,761
State Of North Carolina
0.34
 5.000
05/01/2031
1,067,649
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,065,627
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,065,173
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,065,144
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,064,874
Denton Independent School District
0.34
 5.000
08/15/2029
1,063,220
North Carolina Medical Care Commission
0.34
 5.000
06/01/2055
1,063,180
Board Of Regents Of The University Of T
0.34
 5.000
08/15/2029
1,062,930
City Of New York Ny
0.34
 5.000
08/01/2029
1,062,817
County Of Allen Oh Hospital Facilities
0.33
 5.000
08/01/2030
1,060,428
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2028
1,059,896
Southeast Alabama Gas Supply District/T
0.33
 5.000
08/01/2054
1,058,456
Minneapolis-St Paul Metropolitan Airpor
0.33
 5.000
01/01/2029
1,058,032
State Of Louisiana
0.33
 5.000
02/01/2029
1,057,243
New Jersey Health Care Facilities Finan
0.33
 5.000
07/01/2031
1,056,954
Texas Municipal Gas Acquisition & Suppl
0.33
 5.500
01/01/2054
1,056,194
New York City Transitional Finance Auth
0.33
 5.000
07/15/2031
1,054,716
University Of Connecticut
0.33
 5.000
04/15/2029
1,054,689
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,048,541
Southern California Public Power Author
0.33
 5.000
07/01/2053
1,047,774
State Of California
0.33
 5.000
10/01/2027
1,046,523
State Of California
0.33
 5.000
09/01/2028
1,045,629
Main Street Natural Gas Inc
0.33
 5.000
09/01/2053
1,045,611
State Of California
0.33
 5.000
11/01/2028
1,045,414
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,044,622
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,043,975
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,043,440
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,042,547
Main Street Natural Gas Inc
0.33
 5.000
07/01/2053
1,042,144
State Of Illinois
0.33
 5.000
11/01/2027
1,041,827
City Of Houston Tx
0.33
 5.000
03/01/2032
1,041,457
Tobacco Settlement Financing Corp
0.33
 5.000
06/01/2032
1,037,111
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,037,094
University Of Minnesota
0.33
 5.000
12/01/2031
1,036,443
New Jersey Educational Facilities Autho
0.32
 5.000
07/01/2028
1,028,076
Commonwealth Of Pennsylvania
0.32
 5.000
07/15/2027
1,027,579
Hillsboro School District No 1j
0.32
 5.000
06/15/2031
1,026,910
New York State Dormitory Authority
0.32
 5.000
08/01/2030
1,026,827
Commonwealth Of Pennsylvania
0.32
 5.000
09/01/2027
1,024,293
County Of Harris Tx Toll Road Revenue
0.32
 5.000
08/15/2027
1,024,030
State Of California
0.32
 5.000
09/01/2027
1,023,803
City Of New York Ny
0.32
 5.000
09/01/2027
1,023,313
City Of New York Ny
0.32
 5.000
09/01/2027
1,023,313
San Francisco City & County Public Util
0.32
 5.000
10/01/2026
1,023,056
Louisville/Jefferson County Metropolita
0.32
 5.000
10/01/2047
1,022,886
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,021,781
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,019,773
Metropolitan Council
0.32
 5.000
12/01/2026
1,018,610
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,018,431
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,017,336
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,016,505
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,015,740
Black Belt Energy Gas District
0.32
 4.000
06/01/2051
1,015,445
California State Public Works Board
0.32
 4.000
11/01/2031
1,014,452
County Of Baltimore Md
0.32
 5.000
03/01/2030
1,012,652
New York City Housing Development Corp
0.32
 3.250
11/01/2064
1,010,880
State Of Connecticut
0.32
 3.000
06/01/2029
1,007,988
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,007,215
State Of Hawaii
0.32
 3.000
10/01/2029
1,005,888
California Community Choice Financing A
0.32
 4.000
02/01/2052
1,003,384
State Of Minnesota
0.32
 3.000
10/01/2030
1,002,937
State Of Florida
0.32
 3.000
06/01/2030
1,001,436
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,001,310
New York City Housing Development Corp
0.32
 3.150
05/01/2066
999,707
New York City Housing Development Corp
0.32
 3.125
11/01/2065
999,561
Long Island Power Authority
0.31
 3.000
09/01/2055
996,739
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
982,508
State Of California
0.31
 5.000
11/01/2028
970,592
State Of California Department Of Water
0.30
 5.000
12/01/2031
950,833
Board Of Regents Of The University Of T
0.30
 5.000
08/15/2031
950,657
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
950,110
New York State Dormitory Authority
0.30
 5.000
02/15/2032
944,657
Fort Bend Independent School District
0.30
 5.000
02/15/2028
941,372
Collin County Community College Distric
0.29
 4.000
08/15/2031
932,192
State Of Washington
0.28
 5.000
08/01/2031
900,279
Beverly Hills Unified School District C
0.28
 --
08/01/2030
891,657
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
880,534
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
863,054
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
862,229
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
856,519
California State Public Works Board
0.27
 5.000
10/01/2026
849,055
Public Finance Authority
0.26
 4.000
10/01/2041
831,498
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
829,732
California State Public Works Board
0.26
 5.000
10/01/2028
821,431
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
816,409
State Of Illinois
0.26
 5.000
11/01/2026
816,372
State Of California
0.26
 5.000
10/01/2030
813,535
State Of Louisiana
0.26
 5.000
03/01/2032
808,243
County Of Fairfax Va
0.25
 5.000
10/01/2031
789,099
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
787,366
State Of North Carolina
0.25
 3.000
05/01/2031
786,739
City Of Columbus Oh
0.25
 5.000
04/01/2029
784,960
California Health Facilities Financing
0.25
 5.000
11/15/2031
780,368
County Of Montgomery Md
0.25
 4.000
08/01/2029
778,667
State Of California
0.25
 5.000
04/01/2027
776,088
State Of Maryland Department Of Transpo
0.24
 4.000
05/01/2030
772,265
University Of Connecticut
0.24
 5.000
01/15/2030
755,730
Regional Transportation Authority
0.24
 5.000
07/01/2028
751,584
Energy Northwest
0.24
 5.000
07/01/2028
745,237
New Jersey Economic Development Authori
0.23
 3.125
07/01/2031
739,929
Virginia Public Building Authority
0.23
 5.000
08/01/2029
737,491
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
736,777
California State Public Works Board
0.23
 5.000
11/01/2029
731,801
City Of South Miami Health Facilities A
0.23
 5.000
08/15/2029
724,978
New York State Urban Development Corp
0.23
 5.000
03/15/2027
715,211
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,967
City Of New York Ny
0.22
 5.000
04/01/2032
698,094
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
692,213
State Of Illinois
0.22
 3.500
06/01/2029
691,271
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
684,958
New York State Dormitory Authority
0.21
 5.000
03/15/2028
677,670
New Jersey Health Care Facilities Finan
0.21
 5.000
07/01/2029
677,113
Pennsylvania Housing Finance Agency
0.21
 2.800
10/01/2031
672,407
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
665,573
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
660,564
King County School District No 411 Issa
0.20
 4.000
12/01/2031
641,765
New York State Environmental Facilities
0.20
 5.000
06/15/2028
637,454
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
633,473
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
633,423
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
633,223
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
626,555
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
616,155
City Of Dallas Tx Waterworks & Sewer Sy
0.19
 5.000
10/01/2031
613,766
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
609,604
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,728
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
608,594
State Of North Carolina
0.19
 5.000
05/01/2029
602,940
New York State Dormitory Authority
0.19
 5.000
02/15/2032
602,003
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
596,324
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
578,006
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
573,193
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,739
State Of California
0.18
 5.000
10/01/2027
554,657
Massachusetts Development Finance Agenc
0.17
 5.000
05/15/2055
553,187
Salt River Project Agricultural Improve
0.17
 5.000
01/01/2032
551,253
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
550,355
Energy Northwest
0.17
 5.000
07/01/2031
550,185
New York State Dormitory Authority
0.17
 5.000
03/15/2030
547,447
Utah Transit Authority
0.17
 5.000
12/15/2030
547,271
City Of New York Ny
0.17
 5.000
11/01/2030
543,786
City Of New York Ny
0.17
 5.000
08/01/2030
543,463
County Of Jefferson Al
0.17
 5.000
09/15/2028
543,162
Utah Transit Authority
0.17
 5.000
06/15/2030
542,859
Rutherford Cty Health & Edu Fac Brd
0.17
 5.000
11/15/2048
539,609
Southeast Energy Authority A Cooperativ
0.17
 5.000
10/01/2030
538,726
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
538,378
City Of New York Ny
0.17
 5.000
10/01/2031
537,436
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
537,175
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
536,488
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
535,861
City Of San Francisco Ca Public Utiliti
0.17
 5.000
11/01/2028
534,686
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
533,810
California Community Choice Financing A
0.17
 5.250
01/01/2054
533,666
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
533,531
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
533,524
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
531,078
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
530,739
State Of Maryland
0.17
 5.000
03/15/2028
529,733
Austin Independent School District
0.17
 5.000
08/01/2028
528,397
Arizona Industrial Development Authorit
0.17
 5.000
11/01/2028
524,798
City Of Houston Tx
0.17
 5.000
03/01/2032
524,538
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
524,358
Grand River Dam Authority
0.17
 5.000
06/01/2031
524,175
California Health Facilities Financing
0.17
 5.000
11/01/2027
523,775
State Of California
0.17
 5.000
10/01/2027
523,261
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
523,057
Kentucky Public Energy Authority
0.17
 5.000
01/01/2055
522,554
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
522,530
Virginia Commonwealth Transportation Bo
0.16
 5.000
03/15/2027
522,264
Triborough Bridge & Tunnel Authority
0.16
 5.000
11/15/2027
521,925
California Community Choice Financing A
0.16
 5.000
02/01/2054
521,888
County Of Miami-Dade Fl
0.16
 5.000
10/01/2029
521,736
State Of Michigan Trunk Line Revenue
0.16
 5.000
11/15/2027
521,570
Shelby County Health Educational & Hous
0.16
 5.000
09/01/2049
519,978
Tennessee Energy Acquisition Corp
0.16
 5.000
05/01/2053
519,776
Illinois Finance Authority
0.16
 5.000
01/01/2028
519,405
Tobacco Settlement Financing Corp
0.16
 5.000
06/01/2031
519,243
New York State Urban Development Corp
0.16
 5.000
03/15/2027
518,269
Los Angeles Department Of Water & Power
0.16
 5.000
07/01/2028
518,141
State Of Maryland
0.16
 5.000
03/15/2028
518,037
New York State Dormitory Authority
0.16
 5.000
02/15/2027
516,722
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,548
Montgomery County Industrial Developmen
0.16
 4.100
10/01/2053
516,391
American Municipal Power Inc
0.16
 5.000
02/15/2028
516,024
University Of Colorado
0.16
 4.000
06/01/2034
515,850
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2031
515,636
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2032
514,996
Lower Colorado River Authority
0.16
 5.000
05/15/2027
514,985
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
514,415
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
514,007
City Of New York Ny
0.16
 5.000
08/01/2027
512,767
New Jersey Health Care Facilities Finan
0.16
 5.000
09/15/2026
512,033
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
511,988
Alamo Community College District
0.16
 4.000
08/15/2032
510,500
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
510,356
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
509,924
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
509,820
County Of Cook Il
0.16
 5.000
11/15/2028
509,734
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
509,317
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,738
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
508,736
State Of Colorado
0.16
 5.000
12/15/2026
508,547
North Texas Tollway Authority
0.16
 5.000
01/01/2027
508,078
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
508,031
City Of Forsyth Mt
0.16
 3.875
07/01/2028
507,961
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
507,490
New York State Housing Finance Agency
0.16
 3.600
11/01/2063
506,718
California Community Choice Financing A
0.16
 4.000
05/01/2053
506,692
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
506,657
New York State Dormitory Authority
0.16
 5.000
02/15/2027
506,590
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
506,541
County Of Bexar Tx
0.16
 5.000
06/15/2027
506,343
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
505,850
Michigan State Housing Development Auth
0.16
 3.700
04/01/2030
505,731
California State University
0.16
 3.125
11/01/2051
505,720
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
505,028
Butler County Unified School District N
0.16
 4.000
09/01/2030
504,154
Maryland Community Development Administ
0.16
 3.300
01/01/2029
503,201
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
502,253
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
500,764
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
496,137
City Of San Antonio Tx Electric & Gas S
0.15
 3.150
02/01/2055
489,942
State Of Maryland Department Of Transpo
0.15
 3.000
09/01/2031
489,025
California State Public Works Board
0.15
 3.000
09/01/2031
485,542
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
459,759
County Of Miami-Dade Fl
0.14
 --
10/01/2031
458,846
State Of Mississippi
0.14
 5.000
10/01/2029
449,337
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
441,639
Pennsylvania Housing Finance Agency
0.14
 3.200
10/01/2031
428,139
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,744
City Of New York Ny
0.13
 5.000
03/01/2027
414,817
State Of Michigan
0.13
 3.000
05/01/2030
409,606
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
409,175
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
384,117
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
380,502
University Of Utah/The
0.12
 5.000
08/01/2031
372,755
City Of Chicago Il
0.12
 5.000
01/01/2027
369,746
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
368,401
Canadian County Educational Facilities
0.10
 3.000
09/01/2029
326,542
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
317,214
California Health Facilities Financing
0.10
 5.000
08/15/2031
311,317
Long Island Power Authority
0.10
 5.000
09/01/2031
310,946
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
273,871
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
265,388
Texas Water Development Board
0.08
 5.000
04/15/2030
260,543
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
258,626
Maryland Health & Higher Educational Fa
0.08
 --
01/01/2029
257,714
County Of Mecklenburg Nc
0.07
 2.000
12/01/2030
235,127
State Public School Building Authority
0.06
 5.000
06/01/2029
203,363
Jea Electric System Revenue
0.04
 5.000
10/01/2029
114,746
Other/Cash
0.18
 --
--
576,234
← 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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