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SMB VanEck Short Muni ETF Please read important disclosure Close important disclosure false

SMB
VanEck Short Muni ETF

SMB
VanEck Short Muni ETF

  • NAV
    $17.23

    as of July 22, 2026
  • YTD RETURNS
    0.83%

    as of July 22, 2026
  • Total Net Assets
    $311.88M

    as of July 22, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.77%
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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  07/22/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.77%

Distribution Yield

3.25%

12 Month Yield

2.77%

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 2.77% on 07/22/26. 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) 0.33 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
  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 07/22/2026

Download XLS Get holdings
Total Holdings: 326
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
Indiana Finance Authority
1.07
 5.500
02/01/2032
3,323,547
New York City Transitional Finance Auth
1.06
 5.000
07/15/2031
3,308,271
Charlotte-Mecklenburg Hospital Authorit
1.04
 5.000
01/15/2049
3,250,273
State Of California
1.02
 5.000
04/01/2030
3,192,455
Southeast Energy Authority A Cooperativ
0.97
 4.000
12/01/2051
3,012,503
Commonwealth Of Massachusetts
0.95
 5.500
05/01/2031
2,950,420
State Of New Jersey
0.90
 5.500
06/01/2030
2,820,642
Kansas Development Finance Authority
0.86
 5.000
11/15/2054
2,668,730
New York City Housing Development Corp
0.82
 3.950
11/01/2064
2,556,641
Commonwealth Of Massachusetts
0.81
 5.000
10/01/2031
2,513,793
California Statewide Communities Develo
0.76
 1.750
09/01/2029
2,369,215
Massachusetts Water Resources Authority
0.72
 5.250
08/01/2030
2,242,090
Black Belt Energy Gas District
0.72
 4.000
10/01/2052
2,230,846
State Of Connecticut
0.70
 3.000
01/15/2032
2,176,260
Main Street Natural Gas Inc
0.69
 5.000
05/01/2054
2,163,190
Main Street Natural Gas Inc
0.69
 5.000
04/01/2054
2,141,938
County Of King Wa
0.68
 4.000
07/01/2030
2,135,747
Tennessee Energy Acquisition Corp
0.68
 5.000
05/01/2052
2,117,222
City & County Of Honolulu Hi
0.68
 5.000
03/01/2031
2,107,375
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,103,560
Texas Water Development Board
0.67
 5.500
10/15/2031
2,087,792
Fort Bend Independent School District
0.67
 5.000
08/15/2030
2,086,167
Conroe Independent School District
0.66
 5.000
02/15/2027
2,072,306
State Of Georgia
0.66
 5.000
02/01/2032
2,070,010
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,068,548
City Of Chicago Il
0.66
 5.000
01/01/2030
2,062,143
Central Florida Expressway Authority
0.66
 5.000
07/01/2038
2,052,431
State Of California
0.64
 5.000
04/01/2032
1,997,295
Los Angeles Unified School District/Ca
0.59
 5.000
07/01/2030
1,838,959
Energy Southeast A Cooperative District
0.59
 5.500
11/01/2053
1,834,226
State Of Connecticut Special Tax Revenu
0.58
 5.000
05/01/2031
1,820,551
State Of California
0.54
 5.000
10/01/2031
1,681,194
State Of Maryland
0.52
 5.000
03/15/2031
1,635,428
New Jersey Educational Facilities Autho
0.52
 5.000
07/01/2064
1,632,173
State Of California
0.52
 5.000
10/01/2031
1,625,930
Wisconsin Health & Educational Faciliti
0.52
 5.000
02/15/2032
1,612,694
State Of North Carolina
0.52
 5.000
03/01/2030
1,610,555
Indiana Finance Authority
0.51
 4.250
11/01/2030
1,595,903
New York City Transitional Finance Auth
0.50
 4.000
11/01/2030
1,574,097
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,534,567
Pefa Inc
0.49
 5.000
09/01/2049
1,533,198
California State University
0.49
 5.000
11/01/2031
1,529,243
Main Street Natural Gas Inc
0.49
 4.000
03/01/2050
1,525,920
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,506,296
Kern High School District
0.47
 2.000
08/01/2031
1,481,063
Frisco Independent School District
0.45
 5.500
02/15/2032
1,408,637
State Of California
0.44
 5.000
08/01/2027
1,370,374
State Of Ohio
0.43
 5.000
12/15/2031
1,355,650
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,352,331
County Of Allen Oh Hospital Facilities
0.43
 5.000
12/01/2029
1,335,638
City Of Columbus Oh
0.43
 5.000
04/01/2031
1,334,860
Central Plains Energy Project
0.41
 5.000
09/01/2031
1,286,642
Main Street Natural Gas Inc
0.41
 4.000
07/01/2052
1,282,350
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,258,435
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,250,204
New York Transportation Development Cor
0.40
 5.000
12/01/2030
1,244,500
Kentucky Public Energy Authority
0.40
 4.000
08/01/2052
1,236,427
New York City Transitional Finance Auth
0.39
 5.000
02/01/2030
1,231,672
State Of North Carolina
0.38
 5.000
06/01/2031
1,195,069
Jefferson County School District R-1
0.38
 5.000
12/15/2030
1,170,606
State Of California
0.36
 5.000
09/01/2030
1,119,471
Minnesota Public Facilities Authority S
0.36
 5.500
03/01/2031
1,114,777
Triborough Bridge & Tunnel Authority
0.36
 5.000
11/15/2031
1,111,260
New York City Transitional Finance Auth
0.35
 5.000
08/01/2031
1,097,472
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,092,639
Commonwealth Of Massachusetts
0.35
 5.000
05/01/2030
1,092,486
Texas State Transportation Commission
0.35
 5.000
04/01/2030
1,091,392
State Of California
0.35
 5.000
10/01/2029
1,091,139
Board Of Regents Of The University Of T
0.35
 5.000
08/15/2029
1,087,994
City Of New York Ny
0.35
 5.000
08/01/2029
1,087,165
Denton Independent School District
0.35
 5.000
08/15/2029
1,085,874
County Of Allen Oh Hospital Facilities
0.35
 5.000
08/01/2030
1,084,257
State Of Washington
0.35
 5.500
06/01/2031
1,083,069
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,081,148
Colorado Health Facilities Authority
0.35
 5.000
11/15/2060
1,081,031
New York State Dormitory Authority
0.35
 5.000
03/15/2029
1,080,515
State Of Louisiana
0.35
 5.000
02/01/2029
1,080,084
State Of Maryland
0.35
 5.000
03/15/2029
1,077,488
Main Street Natural Gas Inc
0.35
 5.500
09/01/2053
1,077,380
Metropolitan Government Nashville & Dav
0.35
 5.000
07/01/2031
1,076,408
Black Belt Energy Gas District
0.34
 5.500
06/01/2049
1,073,114
State Of California
0.34
 5.000
09/01/2028
1,073,004
Southeast Alabama Gas Supply District/T
0.34
 5.500
08/01/2054
1,069,722
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,068,204
Main Street Natural Gas Inc
0.34
 5.500
07/01/2053
1,068,054
State Of North Carolina
0.34
 5.000
05/01/2031
1,066,947
City Of Houston Tx
0.34
 5.000
03/01/2032
1,065,136
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,064,752
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,064,405
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,064,066
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,063,990
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,063,978
California Community Choice Financing A
0.34
 5.000
07/01/2053
1,063,479
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,057,420
Minneapolis-St Paul Metropolitan Airpor
0.34
 5.000
01/01/2029
1,056,481
Texas Municipal Gas Acquisition & Suppl
0.34
 5.500
01/01/2054
1,055,940
New Jersey Health Care Facilities Finan
0.34
 5.000
07/01/2031
1,054,820
University Of Connecticut
0.34
 5.000
04/15/2029
1,052,737
New York City Transitional Finance Auth
0.34
 5.000
07/15/2031
1,050,735
New York State Dormitory Authority
0.34
 5.000
08/01/2030
1,049,343
State Of California
0.34
 5.000
09/01/2027
1,047,941
County Of Harris Tx Toll Road Revenue
0.34
 5.000
08/15/2027
1,046,967
Commonwealth Of Pennsylvania
0.34
 5.000
09/01/2027
1,046,945
Southeast Energy Authority A Cooperativ
0.34
 5.250
01/01/2054
1,046,541
City Of New York Ny
0.34
 5.000
09/01/2027
1,046,392
City Of New York Ny
0.34
 5.000
09/01/2027
1,046,392
State Of California
0.34
 5.000
10/01/2027
1,045,782
Iowa Finance Authority
0.34
 5.000
08/01/2031
1,044,963
State Of California
0.33
 5.000
11/01/2028
1,043,548
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,041,945
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,039,583
State Of Illinois
0.33
 5.000
11/01/2027
1,038,700
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,037,165
County Of Baltimore Md
0.33
 5.000
03/01/2030
1,036,916
Energy Northwest
0.33
 --
07/01/2027
1,031,722
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,025,781
Hillsboro School District No 1j
0.33
 5.000
06/15/2031
1,025,573
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2027
1,025,319
Massachusetts Water Resources Authority
0.33
 5.000
08/01/2040
1,024,561
State Of California
0.33
 5.000
09/01/2026
1,022,412
West Virginia Commissioner Of Highways
0.33
 5.000
09/01/2026
1,022,251
San Francisco City & County Public Util
0.33
 5.500
10/01/2026
1,020,796
California Community Choice Financing A
0.33
 4.000
02/01/2052
1,019,695
Louisville/Jefferson County Metropolita
0.33
 5.000
10/01/2047
1,019,301
Pennsylvania Higher Educational Facilit
0.33
 4.000
08/15/2031
1,018,407
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2026
1,017,362
Metropolitan Council
0.33
 5.500
12/01/2026
1,015,980
Ohio Water Development Authority
0.33
 5.000
12/01/2027
1,015,655
New York State Thruway Authority
0.33
 5.000
01/01/2027
1,014,181
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,012,961
Long Island Power Authority
0.32
 5.500
09/01/2055
1,012,108
California State Public Works Board
0.32
 4.000
11/01/2031
1,010,797
New York City Housing Development Corp
0.32
 5.500
11/01/2064
1,008,177
State Of Connecticut
0.32
 3.000
06/01/2029
1,006,389
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,006,027
State Of Hawaii
0.32
 3.000
10/01/2029
1,003,819
New York City Housing Development Corp
0.32
 3.125
11/01/2065
1,002,180
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,000,130
New York City Housing Development Corp
0.32
 3.150
05/01/2066
998,366
State Of Minnesota
0.32
 3.000
10/01/2030
996,719
State Of Florida
0.32
 3.000
06/01/2030
993,790
Board Of Regents Of The University Of T
0.31
 5.000
08/15/2031
973,451
State Of California
0.31
 5.000
11/01/2028
972,147
Fort Bend Independent School District
0.31
 5.000
02/15/2028
962,410
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
950,051
State Of California Department Of Water
0.30
 5.000
12/01/2031
949,533
Collin County Community College Distric
0.30
 4.000
08/15/2031
948,679
State Of Washington
0.30
 5.500
08/01/2031
921,564
Beverly Hills Unified School District C
0.29
 --
08/01/2030
891,703
New York City Transitional Finance Auth
0.28
 5.500
02/01/2027
881,558
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
878,658
State Of New Mexico Severance Tax Perma
0.28
 5.000
07/01/2027
862,258
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
855,499
California State Public Works Board
0.27
 5.000
10/01/2026
847,022
State Of Washington
0.27
 5.000
08/01/2031
845,244
Public Finance Authority
0.27
 4.000
10/01/2041
830,956
State Of Louisiana
0.27
 5.000
03/01/2032
828,321
California State Public Works Board
0.26
 5.000
10/01/2028
819,806
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
814,760
State Of California
0.26
 5.000
10/01/2030
814,747
State Of Illinois
0.26
 5.000
11/01/2026
813,945
County Of Montgomery Md
0.25
 4.000
08/01/2029
792,833
State Of North Carolina
0.25
 3.000
05/01/2031
788,369
County Of Fairfax Va
0.25
 5.000
10/01/2031
787,992
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
783,789
City Of Columbus Oh
0.25
 5.500
04/01/2029
783,515
California Health Facilities Financing
0.25
 5.000
11/15/2031
779,216
State Of California
0.25
 5.000
04/01/2027
774,932
State Of Maryland Department Of Transpo
0.25
 4.000
05/01/2030
770,835
Virginia Public Building Authority
0.24
 5.000
08/01/2029
753,834
University Of Connecticut
0.24
 5.000
01/15/2030
753,759
Regional Transportation Authority
0.24
 5.000
07/01/2028
751,335
Energy Northwest
0.24
 5.000
07/01/2028
743,419
New Jersey Economic Development Authori
0.24
 3.125
07/01/2031
742,133
City Of South Miami Health Facilities A
0.24
 5.000
08/15/2029
740,832
Montgomery County Industrial Developmen
0.24
 4.100
06/01/2029
736,889
California State Public Works Board
0.23
 5.000
11/01/2029
731,734
State Of Georgia
0.23
 5.000
08/01/2026
717,221
New York State Urban Development Corp
0.23
 5.000
03/15/2027
713,723
New York City Transitional Finance Auth
0.23
 5.000
08/01/2031
706,955
Illinois Finance Authority
0.23
 5.000
07/01/2027
702,764
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
699,946
City Of New York Ny
0.22
 5.000
04/01/2032
694,940
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
690,555
State Of Illinois
0.22
 3.500
06/01/2029
688,588
New York State Dormitory Authority
0.22
 5.000
03/15/2028
676,675
New Jersey Health Care Facilities Finan
0.22
 5.000
07/01/2029
675,482
Town Of Oyster Bay Ny
0.22
 3.250
02/01/2029
675,462
Pennsylvania Housing Finance Agency
0.22
 2.800
10/01/2031
674,074
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
663,366
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
658,874
City Of San Antonio Tx Electric & Gas S
0.21
 5.000
02/01/2027
646,336
King County School District No 411 Issa
0.21
 4.000
12/01/2031
639,927
New York State Environmental Facilities
0.20
 5.000
06/15/2028
636,590
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
632,778
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
631,808
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
623,241
Virginia College Building Authority
0.20
 5.000
02/01/2027
622,370
City Of Dallas Tx Waterworks & Sewer Sy
0.20
 5.000
10/01/2031
611,870
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
607,739
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
607,111
State Of North Carolina
0.19
 5.000
05/01/2029
601,408
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
599,608
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
595,144
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
576,286
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
573,600
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
566,959
San Bernardino Community College Distri
0.18
 4.000
08/01/2049
559,311
State Of California
0.18
 5.000
10/01/2027
554,264
City Of New York Ny
0.18
 5.000
08/01/2030
553,993
Salt River Project Agricultural Improve
0.18
 5.000
01/01/2032
553,570
Miami Beach Redevelopment Agency
0.18
 5.000
02/01/2031
551,332
New York State Dormitory Authority
0.18
 5.000
03/15/2030
548,709
Utah Transit Authority
0.18
 5.000
12/15/2030
548,077
City Of New York Ny
0.17
 5.000
11/01/2030
545,553
Utah Transit Authority
0.17
 5.000
06/15/2030
542,871
County Of Jefferson Al
0.17
 5.000
09/15/2028
541,745
Austin Independent School District
0.17
 5.000
08/01/2028
540,191
Southeast Energy Authority A Cooperativ
0.17
 5.500
10/01/2030
539,753
Rutherford Cty Health & Edu Fac Brd
0.17
 5.500
11/15/2048
538,999
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
536,314
City Of Houston Tx
0.17
 5.500
03/01/2032
536,211
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
536,003
City Of New York Ny
0.17
 5.500
10/01/2031
535,499
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
535,468
California Community Choice Financing A
0.17
 5.250
01/01/2054
534,376
City Of San Francisco Ca Public Utiliti
0.17
 5.500
11/01/2028
534,147
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
532,898
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
532,842
California Community Choice Financing A
0.17
 5.000
02/01/2054
532,752
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
532,703
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
531,590
Shelby County Health Educational & Hous
0.17
 5.500
09/01/2049
531,413
State Of Maryland
0.17
 5.000
03/15/2028
529,640
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
529,628
New York State Dormitory Authority
0.17
 5.000
02/15/2027
528,576
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2031
527,898
American Municipal Power Inc
0.17
 5.000
02/15/2028
527,321
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2032
527,200
City Of New York Ny
0.17
 5.000
08/01/2027
524,332
Arizona Industrial Development Authorit
0.17
 5.500
11/01/2028
523,526
California Health Facilities Financing
0.17
 5.000
11/01/2027
523,021
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
523,014
State Of California
0.17
 5.000
10/01/2027
522,891
Grand River Dam Authority
0.17
 5.000
06/01/2031
522,742
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
521,663
Long Island Power Authority
0.17
 5.000
09/01/2026
521,507
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
521,038
State Of Michigan Trunk Line Revenue
0.17
 5.000
11/15/2027
520,907
Virginia Commonwealth Transportation Bo
0.17
 5.000
03/15/2027
520,875
Tobacco Settlement Financing Corp
0.17
 5.000
06/01/2031
520,717
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
520,080
Illinois Finance Authority
0.17
 5.000
01/01/2028
518,699
Tennessee Energy Acquisition Corp
0.17
 5.000
05/01/2053
518,652
New York State Dormitory Authority
0.17
 5.000
02/15/2027
518,211
City & County Of Honolulu Hi
0.17
 5.000
03/01/2027
517,490
New York State Urban Development Corp
0.17
 5.000
03/15/2027
517,191
State Of Maryland
0.17
 5.000
03/15/2028
516,764
University Of Colorado
0.17
 4.000
06/01/2034
515,877
Montgomery County Industrial Developmen
0.17
 5.500
10/01/2053
515,874
Commonwealth Of Massachusetts
0.17
 5.000
05/01/2027
515,529
Lower Colorado River Authority
0.17
 5.500
05/15/2027
514,726
California Community Choice Financing A
0.16
 4.000
05/01/2053
513,905
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
513,484
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,484
Butler County Unified School District N
0.16
 4.000
09/01/2030
512,880
San Diego Public Facilities Financing A
0.16
 5.000
08/01/2027
512,284
Tennessee Energy Acquisition Corp
0.16
 5.625
09/01/2026
512,212
Illinois Finance Authority
0.16
 5.000
08/15/2026
511,729
California State Public Works Board
0.16
 5.000
09/01/2026
511,271
New Jersey Health Care Facilities Finan
0.16
 5.500
09/15/2026
510,685
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
510,675
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
510,476
Maryland Community Development Administ
0.16
 5.500
01/01/2029
510,417
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
509,203
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
508,728
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
508,540
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
508,008
State Of Colorado
0.16
 5.000
12/15/2026
507,735
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
507,514
City Of Forsyth Mt
0.16
 3.875
07/01/2028
507,491
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
507,478
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
507,068
North Texas Tollway Authority
0.16
 5.000
01/01/2027
506,892
East County Advanced Water Purification
0.16
 3.125
09/01/2026
506,182
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
505,268
New York State Housing Finance Agency
0.16
 5.500
11/01/2063
505,008
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
504,746
Michigan State Housing Development Auth
0.16
 5.500
04/01/2030
504,651
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
504,515
California State University
0.16
 3.125
11/01/2051
504,351
County Of Bexar Tx
0.16
 5.000
06/15/2027
503,588
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
502,560
State Of Maryland Department Of Transpo
0.16
 3.000
09/01/2031
500,309
City Of San Antonio Tx Electric & Gas S
0.16
 3.150
02/01/2055
499,747
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
498,714
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
494,655
California State Public Works Board
0.16
 3.000
09/01/2031
494,337
County Of Miami-Dade Fl
0.15
 --
10/01/2031
458,913
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
458,519
State Of Mississippi
0.14
 5.000
10/01/2029
448,678
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
437,891
City Of New York Ny
0.14
 5.000
03/01/2027
424,118
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
420,666
Pennsylvania Housing Finance Agency
0.13
 3.200
10/01/2031
418,612
Lone Star College System
0.13
 5.000
02/15/2033
409,358
State Of Michigan
0.13
 3.000
05/01/2030
408,220
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
408,165
State Of Maryland
0.13
 5.000
08/01/2026
394,467
Oakland Unified School District/Alameda
0.12
 5.000
08/01/2026
389,339
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
384,073
County Of Wake Nc
0.12
 5.000
09/01/2026
383,409
University Of Utah/The
0.12
 5.000
08/01/2031
381,045
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
379,817
City Of Chicago Il
0.12
 5.000
01/01/2027
368,178
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
361,325
Canadian County Educational Facilities
0.11
 3.000
09/01/2029
330,840
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
324,880
Long Island Power Authority
0.10
 5.000
09/01/2031
317,963
California Health Facilities Financing
0.10
 5.000
08/15/2031
317,354
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
274,244
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
264,518
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
264,312
Texas Water Development Board
0.08
 5.000
04/15/2030
260,366
County Of Mecklenburg Nc
0.08
 2.000
12/01/2030
235,464
--
1.76
 --
--
5,490,914
Other/Cash
-0.02
 --
--
-53,206
← 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 06/30/2026

  • Sector

    % of Net Assets

  • State GO

    18.47

  • Local GO

    14.68

  • Utilities - Other

    9.54

  • Tax

    9.53

  • Hospitals

    7.40

  • Power

    6.58

  • Education

    6.25

  • Water & Sewer

    5.49

  • Transportation

    5.25

  • Leasing COPS & Appropriations

    4.29

  • Refunded

    3.28

  • Multi-Family Housing

    2.51

  • Toll & Turnpike

    2.09

  • Airport

    1.04

  • Misc

    0.93

  • Pollution Control

    0.92

  • Single Family Housing

    0.67

  • Industrial Development Revenue

    0.64

  • Tobacco

    0.17

  • Health

    0.16

  • Unassigned

    0.10

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

Composite % of Net Assets
Investment Grade AAA 19.34
AA 47.97
A 21.07
BBB 4.27
Total Investment Grade -- 92.65
Not Rated -- 7.35
If more than one rating is available for an underlying security, the lower of the two ratings is used. If a bond issued by a national government, national government agency or supranational issuer is not rated, the issuer’s credit rating will be used. If two issuer ratings are available, the lower of the two is used. If only one rating is available in all scenarios, we will use the rating provided. If no rating is available, the security will be not rated. Not rated securities do not necessarily indicate lower credit quality. Ratings and portfolio credit quality may change over time.

Years to Maturity as at 06/30/2026

  • Years

    Maturity (%)

  • < 1

    15.20

  • 1 - 3

    21.60

  • 3 - 5

    36.80

  • 5 - 7

    26.40

  • 7 - 10

    0.00

  • 10 - 15

    0.00

  • 15 - 20

    0.00

  • 20 - 30

    0.00

  • 30 +

    0.00

Fees

Distributions

Distribution History

Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains
Ex-date Record
Date 		Payable date Dividend
Income‡ 		Short-Term
Capital Gains 		Long-Term
Capital Gains 		Return of
Capital 		Total
Distributions
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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