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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
    $17.17

    as of September 02, 2026
  • YTD RETURNS
    0.70%

    as of September 02, 2026
  • Total Net Assets
    $316.70M

    as of September 02, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.91%
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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  09/02/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.91%

Distribution Yield

2.89%

12 Month Yield

3.04%

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 2.91% on 09/02/26. 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 09/02/2026

Download XLS Get holdings
Total Holdings: 328
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.04
 5.000
07/15/2031
3,303,795
Charlotte-Mecklenburg Hospital Authorit
1.03
 5.000
01/15/2049
3,246,204
Indiana Finance Authority
1.02
 5.000
02/01/2032
3,245,299
State Of California
1.01
 5.000
04/01/2030
3,183,855
Southeast Energy Authority A Cooperativ
0.95
 4.000
12/01/2051
3,008,599
Commonwealth Of Massachusetts
0.94
 5.000
05/01/2031
2,964,439
State Of New Jersey
0.89
 2.000
06/01/2030
2,820,678
State Of California
0.85
 5.000
10/01/2031
2,705,557
Kansas Development Finance Authority
0.84
 5.000
11/15/2054
2,666,904
New York City Housing Development Corp
0.81
 3.950
11/01/2064
2,563,455
Commonwealth Of Massachusetts
0.80
 5.000
10/01/2031
2,525,668
California Statewide Communities Develo
0.74
 1.750
09/01/2029
2,353,492
Massachusetts Water Resources Authority
0.69
 5.250
08/01/2030
2,189,785
New Jersey Educational Facilities Autho
0.69
 5.000
07/01/2064
2,176,714
Colorado Health Facilities Authority
0.69
 5.000
11/15/2060
2,174,215
Georgia State Road & Tollway Authority
0.68
 5.000
06/01/2032
2,158,695
State Of Connecticut
0.68
 3.000
01/15/2032
2,145,598
State Of Maryland
0.68
 5.000
03/15/2032
2,142,001
County Of King Wa
0.68
 4.000
07/01/2030
2,141,217
Main Street Natural Gas Inc
0.68
 5.000
04/01/2054
2,137,823
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,112,211
Tennessee Energy Acquisition Corp
0.67
 5.000
05/01/2052
2,110,835
Main Street Natural Gas Inc
0.66
 5.000
05/01/2054
2,105,737
Texas Water Development Board
0.66
 4.000
10/15/2031
2,081,415
City Of Orlando Fl Tourist Development
0.65
 5.000
11/01/2031
2,073,197
City Of Chicago Il
0.65
 5.000
01/01/2030
2,069,456
Energy Northwest
0.65
 --
07/01/2027
2,068,240
Central Florida Expressway Authority
0.65
 5.000
07/01/2038
2,056,851
City & County Of Honolulu Hi
0.65
 5.000
03/01/2031
2,056,077
Fort Bend Independent School District
0.64
 5.000
08/15/2030
2,041,014
Conroe Independent School District
0.64
 5.000
02/15/2027
2,027,315
State Of Georgia
0.64
 5.000
02/01/2032
2,025,511
State Of California
0.63
 5.000
04/01/2032
1,984,315
Los Angeles Unified School District/Ca
0.58
 5.000
07/01/2030
1,841,418
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,826,630
State Of Connecticut Special Tax Revenu
0.58
 5.000
05/01/2031
1,823,350
State Public School Building Authority
0.56
 5.000
06/01/2032
1,780,670
State Of California
0.53
 5.000
10/01/2031
1,672,639
State Of Maryland
0.52
 5.000
03/15/2031
1,638,055
Connecticut State Health & Educational
0.51
 5.000
07/01/2064
1,622,363
Indiana Finance Authority
0.50
 4.250
11/01/2030
1,597,361
State Of North Carolina
0.50
 5.000
03/01/2030
1,575,397
Wisconsin Health & Educational Faciliti
0.50
 5.000
02/15/2032
1,574,891
New York City Transitional Finance Auth
0.50
 4.000
11/01/2030
1,574,142
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,537,929
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,509,143
Kern High School District
0.46
 2.000
08/01/2031
1,462,171
Frisco Independent School District
0.44
 4.000
02/15/2032
1,381,773
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,355,942
State Of Ohio
0.43
 5.000
12/15/2031
1,355,209
State Of California
0.42
 5.000
08/01/2027
1,339,235
County Of Allen Oh Hospital Facilities
0.42
 5.000
12/01/2029
1,337,877
City Of Columbus Oh
0.42
 5.000
04/01/2031
1,335,397
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,265,324
Main Street Natural Gas Inc
0.40
 4.000
07/01/2052
1,261,370
Central Plains Energy Project
0.40
 5.000
09/01/2031
1,261,336
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,252,825
New York Transportation Development Cor
0.39
 5.000
12/01/2030
1,244,702
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
1,205,897
State Of North Carolina
0.38
 5.000
06/01/2031
1,195,480
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,171,910
Detroit City School District
0.35
 5.250
05/01/2032
1,113,196
Triborough Bridge & Tunnel Authority
0.35
 5.000
11/15/2031
1,109,960
State Of California
0.35
 5.000
09/01/2030
1,097,861
Commonwealth Of Massachusetts
0.35
 5.000
05/01/2030
1,096,614
Texas State Transportation Commission
0.35
 5.000
04/01/2030
1,094,041
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,093,021
State Of California
0.34
 5.000
10/01/2029
1,087,939
Clark County School District
0.34
 5.000
06/15/2032
1,086,097
Minnesota Public Facilities Authority S
0.34
 5.000
03/01/2031
1,084,865
State Of Washington
0.34
 5.000
06/01/2031
1,084,048
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,079,579
State Of Maryland
0.34
 5.000
03/15/2029
1,078,950
New York City Municipal Water Finance A
0.34
 5.000
06/15/2032
1,076,281
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,075,705
Fairfax County Industrial Development A
0.34
 5.000
05/15/2057
1,075,570
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,071,137
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,069,049
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,068,175
State Of North Carolina
0.34
 5.000
05/01/2031
1,067,981
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,065,923
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,065,526
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,065,503
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,065,191
Denton Independent School District
0.34
 5.000
08/15/2029
1,063,609
North Carolina Medical Care Commission
0.34
 5.000
06/01/2055
1,063,548
City Of New York Ny
0.34
 5.000
08/01/2029
1,063,192
Board Of Regents Of The University Of T
0.34
 5.000
08/15/2029
1,062,444
County Of Allen Oh Hospital Facilities
0.34
 5.000
08/01/2030
1,060,794
Triborough Bridge & Tunnel Authority
0.33
 5.000
11/15/2028
1,060,293
Southeast Alabama Gas Supply District/T
0.33
 5.000
08/01/2054
1,058,466
Minneapolis-St Paul Metropolitan Airpor
0.33
 5.000
01/01/2029
1,058,355
State Of Louisiana
0.33
 5.000
02/01/2029
1,057,586
New Jersey Health Care Facilities Finan
0.33
 5.000
07/01/2031
1,057,324
New York City Transitional Finance Auth
0.33
 5.000
07/15/2031
1,055,199
University Of Connecticut
0.33
 5.000
04/15/2029
1,055,174
Texas Municipal Gas Acquisition & Suppl
0.33
 5.500
01/01/2054
1,052,750
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,048,707
Southern California Public Power Author
0.33
 5.000
07/01/2053
1,047,361
State Of California
0.33
 5.000
10/01/2027
1,046,725
State Of California
0.33
 5.000
09/01/2028
1,045,949
State Of California
0.33
 5.000
11/01/2028
1,045,696
Main Street Natural Gas Inc
0.33
 5.000
09/01/2053
1,044,235
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,044,029
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,043,666
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,042,753
State Of Illinois
0.33
 5.000
11/01/2027
1,041,848
City Of Houston Tx
0.33
 5.000
03/01/2032
1,041,664
Main Street Natural Gas Inc
0.33
 5.000
07/01/2053
1,040,948
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,037,997
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,037,159
Tobacco Settlement Financing Corp
0.33
 5.000
06/01/2032
1,036,989
University Of Minnesota
0.33
 5.000
12/01/2031
1,036,610
New Jersey Educational Facilities Autho
0.32
 5.000
07/01/2028
1,028,315
Commonwealth Of Pennsylvania
0.32
 5.000
07/15/2027
1,027,489
Hillsboro School District No 1j
0.32
 5.000
06/15/2031
1,027,068
New York State Dormitory Authority
0.32
 5.000
08/01/2030
1,026,997
County Of Harris Tx Toll Road Revenue
0.32
 5.000
08/15/2027
1,024,249
Commonwealth Of Pennsylvania
0.32
 5.000
09/01/2027
1,024,113
State Of California
0.32
 5.000
09/01/2027
1,024,014
City Of New York Ny
0.32
 5.000
09/01/2027
1,023,517
City Of New York Ny
0.32
 5.000
09/01/2027
1,023,517
San Francisco City & County Public Util
0.32
 5.000
10/01/2026
1,023,274
Louisville/Jefferson County Metropolita
0.32
 5.000
10/01/2047
1,023,028
Iowa Finance Authority
0.32
 5.000
08/01/2031
1,021,982
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,019,970
Metropolitan Council
0.32
 5.000
12/01/2026
1,018,813
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,018,626
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,017,525
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,016,728
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,015,788
California State Public Works Board
0.32
 4.000
11/01/2031
1,014,422
County Of Baltimore Md
0.32
 5.000
03/01/2030
1,013,051
New York City Housing Development Corp
0.32
 3.250
11/01/2064
1,011,003
State Of Connecticut
0.32
 3.000
06/01/2029
1,008,122
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,007,364
State Of Hawaii
0.32
 3.000
10/01/2029
1,006,012
California Community Choice Financing A
0.32
 4.000
02/01/2052
1,004,273
State Of Minnesota
0.32
 3.000
10/01/2030
1,003,111
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,001,654
State Of Florida
0.32
 3.000
06/01/2030
1,001,600
New York City Housing Development Corp
0.32
 3.150
05/01/2066
999,874
New York City Housing Development Corp
0.32
 3.125
11/01/2065
999,828
Long Island Power Authority
0.31
 3.000
09/01/2055
996,774
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
982,677
State Of California
0.31
 5.000
11/01/2028
970,890
State Of California Department Of Water
0.30
 5.000
12/01/2031
951,071
Board Of Regents Of The University Of T
0.30
 5.000
08/15/2031
950,972
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
950,469
New York State Dormitory Authority
0.30
 5.000
02/15/2032
944,081
Fort Bend Independent School District
0.30
 5.000
02/15/2028
941,577
Collin County Community College Distric
0.29
 4.000
08/15/2031
932,244
State Of Washington
0.28
 5.000
08/01/2031
900,420
Beverly Hills Unified School District C
0.28
 --
08/01/2030
891,538
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
880,704
State Of New Mexico Severance Tax Perma
0.27
 5.000
07/01/2027
863,252
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
862,436
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
856,813
California State Public Works Board
0.27
 5.000
10/01/2026
849,219
Public Finance Authority
0.26
 4.000
10/01/2041
831,676
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
829,779
California State Public Works Board
0.26
 5.000
10/01/2028
821,633
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
816,598
State Of Illinois
0.26
 5.000
11/01/2026
816,517
State Of California
0.26
 5.000
10/01/2030
813,363
State Of Louisiana
0.26
 5.000
03/01/2032
808,613
County Of Fairfax Va
0.25
 5.000
10/01/2031
789,294
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
787,317
State Of North Carolina
0.25
 3.000
05/01/2031
787,015
City Of Columbus Oh
0.25
 5.000
04/01/2029
785,111
California Health Facilities Financing
0.25
 5.000
11/15/2031
780,522
County Of Montgomery Md
0.25
 4.000
08/01/2029
778,886
State Of California
0.25
 5.000
04/01/2027
776,286
State Of Maryland Department Of Transpo
0.24
 4.000
05/01/2030
772,379
University Of Connecticut
0.24
 5.000
01/15/2030
755,916
Regional Transportation Authority
0.24
 5.000
07/01/2028
751,692
Energy Northwest
0.24
 5.000
07/01/2028
745,289
New Jersey Economic Development Authori
0.23
 3.125
07/01/2031
740,094
Virginia Public Building Authority
0.23
 5.000
08/01/2029
737,605
Montgomery County Industrial Developmen
0.23
 4.100
06/01/2029
736,940
California State Public Works Board
0.23
 5.000
11/01/2029
731,867
City Of South Miami Health Facilities A
0.23
 5.000
08/15/2029
725,066
New York State Urban Development Corp
0.23
 5.000
03/15/2027
715,399
Illinois Finance Authority
0.22
 5.000
07/01/2027
704,131
City Of New York Ny
0.22
 5.000
04/01/2032
698,283
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
692,373
State Of Illinois
0.22
 3.500
06/01/2029
691,189
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
685,100
New York State Dormitory Authority
0.21
 5.000
03/15/2028
677,826
New Jersey Health Care Facilities Finan
0.21
 5.000
07/01/2029
677,212
Pennsylvania Housing Finance Agency
0.21
 2.800
10/01/2031
672,647
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
665,694
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
660,701
King County School District No 411 Issa
0.20
 4.000
12/01/2031
641,803
New York State Environmental Facilities
0.20
 5.000
06/15/2028
637,634
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
633,594
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
633,575
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
633,381
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
626,586
State Of New York Mortgage Agency Homeo
0.19
 3.000
10/01/2031
616,324
City Of Dallas Tx Waterworks & Sewer Sy
0.19
 5.000
10/01/2031
613,787
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
609,682
Virginia College Building Authority
0.19
 5.000
02/01/2027
608,877
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
608,697
State Of North Carolina
0.19
 5.000
05/01/2029
603,057
New York State Dormitory Authority
0.19
 5.000
02/15/2032
602,098
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
596,405
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
578,031
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
573,430
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,840
State Of California
0.18
 5.000
10/01/2027
554,764
Connecticut State Health & Educational
0.17
 5.000
07/01/2064
552,531
Salt River Project Agricultural Improve
0.17
 5.000
01/01/2032
550,760
San Bernardino Community College Distri
0.17
 4.000
08/01/2049
550,457
Energy Northwest
0.17
 5.000
07/01/2031
550,404
New York State Dormitory Authority
0.17
 5.000
03/15/2030
547,653
Utah Transit Authority
0.17
 5.000
12/15/2030
547,501
City Of New York Ny
0.17
 5.000
11/01/2030
543,990
City Of New York Ny
0.17
 5.000
08/01/2030
543,491
County Of Jefferson Al
0.17
 5.000
09/15/2028
543,260
Utah Transit Authority
0.17
 5.000
06/15/2030
543,071
Rutherford Cty Health & Edu Fac Brd
0.17
 5.000
11/15/2048
539,802
Southeast Energy Authority A Cooperativ
0.17
 5.000
10/01/2030
538,901
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
538,591
City Of New York Ny
0.17
 5.000
10/01/2031
537,610
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
537,381
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
536,342
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
536,056
City Of San Francisco Ca Public Utiliti
0.17
 5.000
11/01/2028
534,859
California Community Choice Financing A
0.17
 5.250
01/01/2054
534,443
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
533,979
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
533,710
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
533,684
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
531,162
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
530,833
State Of Maryland
0.17
 5.000
03/15/2028
529,857
Austin Independent School District
0.17
 5.000
08/01/2028
528,544
Arizona Industrial Development Authorit
0.17
 5.000
11/01/2028
524,921
City Of Houston Tx
0.17
 5.000
03/01/2032
524,605
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
524,518
Grand River Dam Authority
0.17
 5.000
06/01/2031
524,255
California Health Facilities Financing
0.17
 5.000
11/01/2027
523,900
State Of California
0.17
 5.000
10/01/2027
523,362
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
523,155
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
522,573
Virginia Commonwealth Transportation Bo
0.16
 5.000
03/15/2027
522,350
Triborough Bridge & Tunnel Authority
0.16
 5.000
11/15/2027
522,036
County Of Miami-Dade Fl
0.16
 5.000
10/01/2029
521,758
State Of Michigan Trunk Line Revenue
0.16
 5.000
11/15/2027
521,676
Shelby County Health Educational & Hous
0.16
 5.000
09/01/2049
520,114
Tennessee Energy Acquisition Corp
0.16
 5.000
05/01/2053
519,813
Illinois Finance Authority
0.16
 5.000
01/01/2028
519,514
California Community Choice Financing A
0.16
 5.000
02/01/2054
519,331
Tobacco Settlement Financing Corp
0.16
 5.000
06/01/2031
519,187
New York State Urban Development Corp
0.16
 5.000
03/15/2027
518,405
Los Angeles Department Of Water & Power
0.16
 5.000
07/01/2028
518,227
State Of Maryland
0.16
 5.000
03/15/2028
518,143
New York State Dormitory Authority
0.16
 5.000
02/15/2027
516,845
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
516,687
Montgomery County Industrial Developmen
0.16
 4.100
10/01/2053
516,410
American Municipal Power Inc
0.16
 5.000
02/15/2028
516,125
University Of Colorado
0.16
 4.000
06/01/2034
515,929
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2031
515,733
Lower Colorado River Authority
0.16
 5.000
05/15/2027
515,101
Ohio Turnpike & Infrastructure Commissi
0.16
 5.000
02/15/2032
515,086
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
514,544
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
514,130
City Of New York Ny
0.16
 5.000
08/01/2027
512,889
New Jersey Health Care Facilities Finan
0.16
 5.000
09/15/2026
512,110
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
512,038
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
510,441
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
510,026
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
509,914
County Of Cook Il
0.16
 5.000
11/15/2028
509,819
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
509,419
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
508,835
City Of Forsyth Mt
0.16
 3.875
07/01/2028
508,764
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
508,711
State Of Colorado
0.16
 5.000
12/15/2026
508,639
North Texas Tollway Authority
0.16
 5.000
01/01/2027
508,182
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
508,133
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
507,455
New York State Dormitory Authority
0.16
 5.000
02/15/2027
506,711
New York State Housing Finance Agency
0.16
 3.600
11/01/2063
506,705
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
506,627
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
506,524
County Of Bexar Tx
0.16
 5.000
06/15/2027
506,365
City & County Of Honolulu Hi
0.16
 5.000
03/01/2027
505,977
California Community Choice Financing A
0.16
 4.000
05/01/2053
505,875
Michigan State Housing Development Auth
0.16
 3.700
04/01/2030
505,800
California State University
0.16
 3.125
11/01/2051
505,708
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
505,140
Butler County Unified School District N
0.16
 4.000
09/01/2030
504,192
Maryland Community Development Administ
0.16
 3.300
01/01/2029
503,250
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
502,254
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
500,914
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
495,978
City Of San Antonio Tx Electric & Gas S
0.15
 3.150
02/01/2055
490,080
State Of Maryland Department Of Transpo
0.15
 3.000
09/01/2031
489,231
California State Public Works Board
0.15
 3.000
09/01/2031
485,737
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
459,855
County Of Miami-Dade Fl
0.14
 --
10/01/2031
458,781
State Of Mississippi
0.14
 5.000
10/01/2029
449,446
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
441,827
Pennsylvania Housing Finance Agency
0.14
 3.200
10/01/2031
428,258
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,832
City Of New York Ny
0.13
 5.000
03/01/2027
414,921
State Of Michigan
0.13
 3.000
05/01/2030
409,714
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
409,253
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
384,620
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
380,717
University Of Utah/The
0.12
 5.000
08/01/2031
372,825
City Of Chicago Il
0.12
 5.000
01/01/2027
369,772
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
368,511
Canadian County Educational Facilities
0.10
 3.000
09/01/2029
326,578
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
317,378
California Health Facilities Financing
0.10
 5.000
08/15/2031
311,330
Long Island Power Authority
0.10
 5.000
09/01/2031
311,012
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
273,975
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
265,360
Texas Water Development Board
0.08
 5.000
04/15/2030
260,601
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
258,710
Maryland Health & Higher Educational Fa
0.08
 --
01/01/2029
257,750
County Of Mecklenburg Nc
0.07
 2.000
12/01/2030
235,177
State Public School Building Authority
0.06
 5.000
06/01/2029
203,382
Jea Electric System Revenue
0.04
 5.000
10/01/2029
114,784
--
1.50
 --
--
4,754,866
Other/Cash
-0.34
 --
--
-1,062,538
← 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 07/31/2026

Composite % of Net Assets
Investment Grade AAA 18.44
AA 48.87
A 20.74
BBB 4.31
Total Investment Grade -- 92.37
Not Rated -- 7.63
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 07/31/2026

  • Years

    Maturity (%)

  • < 1

    15.70

  • 1 - 3

    21.20

  • 3 - 5

    37.90

  • 5 - 7

    25.30

  • 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
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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