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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
    $17.22

    as of August 06, 2026
  • YTD RETURNS
    1.02%

    as of August 06, 2026
  • Total Net Assets
    $313.41M

    as of August 06, 2026
  • Total Expense Ratio
    0.07%
  • Inception Date
    02/22/2008
  • 30-Day SEC Yield
    2.85%
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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  08/06/2026

Distribution Frequency

Monthly

30-Day SEC Yield

2.85%

Distribution Yield

3.03%

12 Month Yield

2.79%

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 2.85% on 08/06/26. 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) -0.46 0.11 0.70 2.23 3.11 1.07 1.42 1.98
SMB (Market Price) -0.39 0.35 0.39 2.46 3.29 1.08 1.42 1.99
ICE Short AMT-Free Broad National Municipal Index -0.44 0.12 0.72 2.23 3.08 1.08 1.59 2.35
  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 08/06/2026

Download XLS Get holdings
Total Holdings: 326
Holding Name
% of Net Assets
 Coupon
Maturity
Market Value (US$)
New York City Transitional Finance Auth
1.06
 5.000
07/15/2031
3,318,290
Charlotte-Mecklenburg Hospital Authorit
1.04
 5.000
01/15/2049
3,262,649
Indiana Finance Authority
1.04
 5.000
02/01/2032
3,261,186
State Of California
1.02
 5.000
04/01/2030
3,205,541
Southeast Energy Authority A Cooperativ
0.96
 4.000
12/01/2051
3,011,325
Commonwealth Of Massachusetts
0.94
 5.500
05/01/2031
2,960,388
State Of New Jersey
0.90
 5.500
06/01/2030
2,832,618
State Of California
0.87
 5.000
10/01/2031
2,713,073
Kansas Development Finance Authority
0.85
 5.000
11/15/2054
2,678,811
New York City Housing Development Corp
0.82
 3.950
11/01/2064
2,558,470
Commonwealth Of Massachusetts
0.80
 5.000
10/01/2031
2,522,708
California Statewide Communities Develo
0.76
 1.750
09/01/2029
2,376,264
Black Belt Energy Gas District
0.71
 4.000
10/01/2052
2,233,092
Massachusetts Water Resources Authority
0.70
 5.250
08/01/2030
2,194,658
Georgia State Road & Tollway Authority
0.69
 5.000
06/01/2032
2,165,522
State Of Connecticut
0.69
 3.000
01/15/2032
2,162,535
Main Street Natural Gas Inc
0.69
 5.000
05/01/2054
2,154,428
Main Street Natural Gas Inc
0.68
 5.000
04/01/2054
2,140,639
County Of King Wa
0.68
 4.000
07/01/2030
2,139,039
Tennessee Energy Acquisition Corp
0.68
 5.000
05/01/2052
2,118,868
City & County Of Honolulu Hi
0.67
 5.000
03/01/2031
2,113,458
California Community Choice Financing A
0.67
 5.500
05/01/2054
2,103,761
Texas Water Development Board
0.67
 5.500
10/15/2031
2,096,222
Fort Bend Independent School District
0.67
 5.000
08/15/2030
2,089,265
Conroe Independent School District
0.66
 5.000
02/15/2027
2,073,932
City Of Orlando Fl Tourist Development
0.66
 5.000
11/01/2031
2,072,281
City Of Chicago Il
0.66
 5.000
01/01/2030
2,070,133
Central Florida Expressway Authority
0.66
 5.000
07/01/2038
2,053,807
State Of Georgia
0.65
 5.000
02/01/2032
2,022,693
State Of California
0.64
 5.000
04/01/2032
2,005,708
Los Angeles Unified School District/Ca
0.59
 5.000
07/01/2030
1,842,542
State Of Connecticut Special Tax Revenu
0.58
 5.000
05/01/2031
1,827,520
Energy Southeast A Cooperative District
0.58
 5.500
11/01/2053
1,826,767
State Public School Building Authority
0.57
 5.000
06/01/2032
1,776,357
State Of California
0.54
 5.000
10/01/2031
1,690,917
State Of Maryland
0.52
 5.000
03/15/2031
1,642,281
New Jersey Educational Facilities Autho
0.52
 5.000
07/01/2064
1,635,605
Wisconsin Health & Educational Faciliti
0.52
 5.000
02/15/2032
1,617,029
State Of North Carolina
0.52
 5.000
03/01/2030
1,614,316
Indiana Finance Authority
0.51
 4.250
11/01/2030
1,601,547
New York City Transitional Finance Auth
0.50
 4.000
11/01/2030
1,579,220
Curators Of The University Of Missouri/
0.49
 5.000
11/01/2030
1,542,362
Pefa Inc
0.49
 5.000
09/01/2049
1,534,663
California State University
0.49
 5.000
11/01/2031
1,530,744
Main Street Natural Gas Inc
0.49
 4.000
03/01/2050
1,527,441
Metropolitan Transportation Authority
0.48
 5.000
11/15/2031
1,509,472
Kern High School District
0.47
 2.000
08/01/2031
1,472,499
Frisco Independent School District
0.45
 5.500
02/15/2032
1,412,094
State Of Ohio
0.43
 5.000
12/15/2031
1,360,633
New York State Dormitory Authority
0.43
 5.000
10/01/2030
1,353,487
State Of California
0.43
 5.000
08/01/2027
1,340,257
County Of Allen Oh Hospital Facilities
0.43
 5.000
12/01/2029
1,339,284
City Of Columbus Oh
0.43
 5.000
04/01/2031
1,337,214
Central Plains Energy Project
0.41
 5.000
09/01/2031
1,292,871
Main Street Natural Gas Inc
0.41
 4.000
07/01/2052
1,283,388
Jackson County School District No 549c
0.40
 5.000
12/15/2028
1,260,928
Central Florida Expressway Authority
0.40
 4.000
07/01/2031
1,255,105
New York Transportation Development Cor
0.40
 5.000
12/01/2030
1,248,633
Kentucky Public Energy Authority
0.39
 4.000
08/01/2052
1,209,891
New York City Transitional Finance Auth
0.38
 5.000
02/01/2030
1,203,481
State Of North Carolina
0.38
 5.000
06/01/2031
1,199,035
Jefferson County School District R-1
0.37
 5.000
12/15/2030
1,173,328
State Of California
0.36
 5.000
09/01/2030
1,122,754
Minnesota Public Facilities Authority S
0.36
 5.500
03/01/2031
1,118,423
Triborough Bridge & Tunnel Authority
0.36
 5.000
11/15/2031
1,115,285
Metropolitan Transportation Authority
0.35
 5.000
11/15/2030
1,097,414
Commonwealth Of Massachusetts
0.35
 5.000
05/01/2030
1,095,607
Texas State Transportation Commission
0.35
 5.000
04/01/2030
1,093,841
State Of California
0.35
 5.000
10/01/2029
1,092,829
Board Of Regents Of The University Of T
0.35
 5.000
08/15/2029
1,089,729
Colorado Health Facilities Authority
0.35
 5.000
11/15/2060
1,089,513
Denton Independent School District
0.35
 5.000
08/15/2029
1,088,531
State Of Washington
0.35
 5.500
06/01/2031
1,087,156
Connecticut State Health & Educational
0.35
 5.000
07/01/2064
1,084,435
New York State Dormitory Authority
0.34
 5.000
03/15/2029
1,080,307
State Of Maryland
0.34
 5.000
03/15/2029
1,080,178
Metropolitan Government Nashville & Dav
0.34
 5.000
07/01/2031
1,080,084
State Of California
0.34
 5.000
09/01/2028
1,076,123
New York City Transitional Finance Auth
0.34
 5.000
08/01/2031
1,074,748
Main Street Natural Gas Inc
0.34
 5.500
09/01/2053
1,073,665
Piedmont Municipal Power Agency
0.34
 5.000
01/01/2032
1,071,874
City Of Houston Tx
0.34
 5.000
03/01/2032
1,069,912
State Of North Carolina
0.34
 5.000
05/01/2031
1,069,610
Main Street Natural Gas Inc
0.34
 5.500
07/01/2053
1,069,180
North Carolina Municipal Power Agency N
0.34
 5.000
01/01/2032
1,067,134
County Of Miami-Dade Fl Water & Sewer S
0.34
 5.000
10/01/2028
1,066,973
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,066,631
Regional Transportation District Sales
0.34
 5.000
11/01/2028
1,066,210
Southeast Alabama Gas Supply District/T
0.34
 5.500
08/01/2054
1,065,863
California Community Choice Financing A
0.34
 5.250
11/01/2054
1,065,212
City Of New York Ny
0.34
 5.000
08/01/2029
1,063,316
Triborough Bridge & Tunnel Authority
0.34
 5.000
11/15/2028
1,060,151
County Of Allen Oh Hospital Facilities
0.34
 5.000
08/01/2030
1,059,852
Minneapolis-St Paul Metropolitan Airpor
0.34
 5.000
01/01/2029
1,058,826
State Of Louisiana
0.34
 5.000
02/01/2029
1,057,465
New Jersey Health Care Facilities Finan
0.34
 5.000
07/01/2031
1,057,408
Texas Municipal Gas Acquisition & Suppl
0.34
 5.500
01/01/2054
1,056,003
New York City Transitional Finance Auth
0.34
 5.000
07/15/2031
1,054,727
University Of Connecticut
0.34
 5.000
04/15/2029
1,054,234
State Of California
0.34
 5.000
09/01/2027
1,050,027
Commonwealth Of Pennsylvania
0.33
 5.000
09/01/2027
1,048,103
State Of California
0.33
 5.000
10/01/2027
1,048,034
County Of Harris Tx Toll Road Revenue
0.33
 5.000
08/15/2027
1,047,718
Southeast Energy Authority A Cooperativ
0.33
 5.250
01/01/2054
1,046,733
City Of New York Ny
0.33
 5.000
09/01/2027
1,046,717
City Of New York Ny
0.33
 5.000
09/01/2027
1,046,717
State Of California
0.33
 5.000
11/01/2028
1,045,171
Black Belt Energy Gas District
0.33
 5.500
06/01/2049
1,044,460
City Of Houston Tx Combined Utility Sys
0.33
 5.000
11/15/2027
1,042,826
Washington Convention & Sports Authorit
0.33
 5.000
10/01/2030
1,041,394
State Of Illinois
0.33
 5.000
11/01/2027
1,039,532
County Of Baltimore Md
0.33
 5.000
03/01/2030
1,039,422
California Community Choice Financing A
0.33
 5.000
07/01/2053
1,038,608
Black Belt Energy Gas District
0.33
 5.000
05/01/2053
1,038,039
Energy Northwest
0.33
 --
07/01/2027
1,032,508
New Jersey Educational Facilities Autho
0.33
 5.000
07/01/2028
1,027,447
New York State Dormitory Authority
0.33
 5.000
08/01/2030
1,026,871
Commonwealth Of Pennsylvania
0.33
 5.000
07/15/2027
1,026,369
Hillsboro School District No 1j
0.33
 5.000
06/15/2031
1,026,347
State Of California
0.33
 5.000
09/01/2026
1,023,537
West Virginia Commissioner Of Highways
0.33
 5.000
09/01/2026
1,023,285
San Francisco City & County Public Util
0.33
 5.500
10/01/2026
1,021,595
Iowa Finance Authority
0.33
 5.000
08/01/2031
1,021,179
Louisville/Jefferson County Metropolita
0.33
 5.000
10/01/2047
1,021,122
Pennsylvania Higher Educational Facilit
0.33
 4.000
08/15/2031
1,019,482
Triborough Bridge & Tunnel Authority
0.32
 5.000
11/15/2026
1,018,197
Metropolitan Council
0.32
 5.500
12/01/2026
1,016,985
Ohio Water Development Authority
0.32
 5.000
12/01/2027
1,016,666
New York State Thruway Authority
0.32
 5.000
01/01/2027
1,015,004
County Of Hennepin Mn Sales Tax Revenue
0.32
 5.000
12/15/2031
1,014,658
Central Florida Tourism Oversight Distr
0.32
 4.000
06/01/2031
1,014,650
California State Public Works Board
0.32
 4.000
11/01/2031
1,012,244
Long Island Power Authority
0.32
 5.500
09/01/2055
1,011,959
New York City Housing Development Corp
0.32
 5.500
11/01/2064
1,009,075
State Of Connecticut
0.32
 3.000
06/01/2029
1,008,889
King County School District No 414 Lake
0.32
 5.000
12/01/2031
1,006,803
State Of Minnesota
0.32
 3.000
10/01/2030
1,005,945
California Community Choice Financing A
0.32
 4.000
02/01/2052
1,004,984
State Of Hawaii
0.32
 3.000
10/01/2029
1,004,242
New York City Housing Development Corp
0.32
 3.125
11/01/2065
1,002,614
Indiana Finance Authority
0.32
 5.000
06/01/2029
1,002,503
State Of Florida
0.32
 3.000
06/01/2030
999,171
New York City Housing Development Corp
0.32
 3.150
05/01/2066
998,759
City Of Denton Tx Utility System Revenu
0.31
 5.000
12/01/2031
978,954
Board Of Regents Of The University Of T
0.31
 5.000
08/15/2031
975,279
State Of California
0.31
 5.000
11/01/2028
975,137
New York State Dormitory Authority
0.31
 5.000
02/15/2032
964,169
Fort Bend Independent School District
0.31
 5.000
02/15/2028
963,563
State Of Florida Department Of Transpor
0.30
 5.000
07/01/2030
952,953
State Of California Department Of Water
0.30
 5.000
12/01/2031
950,948
Collin County Community College Distric
0.30
 4.000
08/15/2031
950,534
State Of Washington
0.29
 5.000
08/01/2031
900,228
Beverly Hills Unified School District C
0.29
 --
08/01/2030
894,021
Harris County Cultural Education Facili
0.28
 5.000
11/15/2030
880,182
State Of New Mexico Severance Tax Perma
0.28
 5.000
07/01/2027
862,524
New York City Transitional Finance Auth
0.27
 5.000
02/01/2027
860,999
Georgia State Road & Tollway Authority
0.27
 5.000
06/01/2029
857,533
California State Public Works Board
0.27
 5.000
10/01/2026
847,848
Public Finance Authority
0.27
 4.000
10/01/2041
833,827
State Of Louisiana
0.27
 5.000
03/01/2032
831,089
Virginia Commonwealth Transportation Bo
0.26
 5.000
05/15/2032
829,725
California State Public Works Board
0.26
 5.000
10/01/2028
821,082
State Of California
0.26
 5.000
10/01/2030
816,868
Los Angeles County Metropolitan Transpo
0.26
 5.000
07/01/2031
816,042
State Of Illinois
0.26
 5.000
11/01/2026
814,735
State Of North Carolina
0.25
 3.000
05/01/2031
792,080
County Of Fairfax Va
0.25
 5.000
10/01/2031
789,451
New Jersey Transportation Trust Fund Au
0.25
 4.100
06/15/2031
785,062
City Of Columbus Oh
0.25
 5.500
04/01/2029
784,098
California Health Facilities Financing
0.25
 5.000
11/15/2031
780,493
County Of Montgomery Md
0.25
 4.000
08/01/2029
779,730
State Of California
0.25
 5.000
04/01/2027
776,134
State Of Maryland Department Of Transpo
0.25
 4.000
05/01/2030
772,383
University Of Connecticut
0.24
 5.000
01/15/2030
754,584
Regional Transportation Authority
0.24
 5.000
07/01/2028
752,466
Energy Northwest
0.24
 5.000
07/01/2028
744,507
New Jersey Economic Development Authori
0.24
 3.125
07/01/2031
744,000
City Of South Miami Health Facilities A
0.24
 5.000
08/15/2029
742,032
Virginia Public Building Authority
0.24
 5.000
08/01/2029
736,966
Montgomery County Industrial Developmen
0.24
 4.100
06/01/2029
736,604
California State Public Works Board
0.23
 5.000
11/01/2029
734,017
New York State Urban Development Corp
0.23
 5.000
03/15/2027
714,250
Illinois Finance Authority
0.22
 5.000
07/01/2027
703,059
City Of New York Ny
0.22
 5.000
04/01/2032
698,544
Commonwealth Of Massachusetts
0.22
 5.500
01/01/2027
691,184
State Of Illinois
0.22
 3.500
06/01/2029
689,522
Trinity River Authority Central Regiona
0.22
 5.000
08/01/2030
684,244
New York State Dormitory Authority
0.22
 5.000
03/15/2028
677,528
Pennsylvania Housing Finance Agency
0.22
 2.800
10/01/2031
677,464
New Jersey Health Care Facilities Finan
0.22
 5.000
07/01/2029
676,513
Washington Metropolitan Area Transit Au
0.21
 5.000
07/01/2031
665,005
Illinois State Toll Highway Authority
0.21
 5.000
01/01/2027
659,439
King County School District No 411 Issa
0.20
 4.000
12/01/2031
640,560
New York State Environmental Facilities
0.20
 5.000
06/15/2028
637,636
State Of Connecticut Special Tax Revenu
0.20
 5.000
05/01/2028
633,377
City Of San Antonio Tx Electric & Gas S
0.20
 5.000
02/01/2027
632,396
New Jersey Economic Development Authori
0.20
 5.000
06/15/2034
631,982
City Of Phoenix Civic Improvement Corp
0.20
 5.000
07/01/2029
624,429
State Of New York Mortgage Agency Homeo
0.20
 3.000
10/01/2031
616,838
New York State Dormitory Authority
0.20
 5.000
02/15/2032
615,921
City Of Dallas Tx Waterworks & Sewer Sy
0.20
 5.000
10/01/2031
612,497
Texas Municipal Gas Acquisition & Suppl
0.19
 5.000
12/15/2026
608,380
Virginia College Building Authority
0.19
 5.000
02/01/2027
607,822
State Of Maryland Department Of Transpo
0.19
 5.000
10/01/2026
607,631
State Of North Carolina
0.19
 5.000
05/01/2029
602,280
State Of Illinois Sales Tax Revenue
0.19
 4.000
06/15/2028
596,120
City Of Dallas Tx Waterworks & Sewer Sy
0.18
 5.000
10/01/2030
576,854
Alabama Public School And College Autho
0.18
 5.000
11/01/2031
575,429
Washington Metropolitan Area Transit Au
0.18
 5.000
07/01/2030
568,335
State Of California
0.18
 5.000
10/01/2027
555,458
Salt River Project Agricultural Improve
0.18
 5.000
01/01/2032
555,082
New York State Dormitory Authority
0.18
 5.000
03/15/2030
550,219
San Bernardino Community College Distri
0.18
 4.000
08/01/2049
549,528
Utah Transit Authority
0.18
 5.000
12/15/2030
549,406
City Of New York Ny
0.17
 5.000
11/01/2030
546,070
Utah Transit Authority
0.17
 5.000
06/15/2030
544,486
County Of Jefferson Al
0.17
 5.000
09/15/2028
542,495
Rutherford Cty Health & Edu Fac Brd
0.17
 5.500
11/15/2048
541,836
City Of New York Ny
0.17
 5.000
08/01/2030
541,527
Miami Beach Redevelopment Agency
0.17
 5.000
02/01/2031
540,672
Southeast Energy Authority A Cooperativ
0.17
 5.500
10/01/2030
540,341
Buckeye Tobacco Settlement Financing Au
0.17
 5.000
06/01/2032
540,068
Orange County Convention Center/Orlando
0.17
 5.000
10/01/2030
539,011
City Of New York Ny
0.17
 5.500
10/01/2031
538,154
New York City Industrial Development Ag
0.17
 5.000
03/01/2029
537,254
City Of Houston Tx
0.17
 5.500
03/01/2032
537,021
Chicago O'Hare International Airport
0.17
 5.000
01/01/2030
536,930
California Community Choice Financing A
0.17
 5.250
01/01/2054
535,402
City Of San Francisco Ca Public Utiliti
0.17
 5.500
11/01/2028
535,117
County Of Clark Department Of Aviation
0.17
 5.000
07/01/2029
534,192
California Infrastructure & Economic De
0.17
 5.000
11/01/2029
534,129
Metropolitan Washington Airports Author
0.17
 5.000
10/01/2028
533,808
Shelby County Health Educational & Hous
0.17
 5.500
09/01/2049
532,795
California Community Choice Financing A
0.17
 5.000
02/01/2054
532,531
Kentucky Public Energy Authority
0.17
 5.250
06/01/2055
531,998
State Of Maryland
0.17
 5.000
03/15/2028
530,283
Central Puget Sound Regional Transit Au
0.17
 5.000
11/01/2026
529,873
New York State Dormitory Authority
0.17
 5.000
02/15/2027
528,713
Austin Independent School District
0.17
 5.000
08/01/2028
528,624
American Municipal Power Inc
0.17
 5.000
02/15/2028
527,991
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2031
527,725
Ohio Turnpike & Infrastructure Commissi
0.17
 5.000
02/15/2032
527,046
Arizona Industrial Development Authorit
0.17
 5.500
11/01/2028
524,565
State Of California
0.17
 5.000
10/01/2027
524,017
Grand River Dam Authority
0.17
 5.000
06/01/2031
523,249
California Health Facilities Financing
0.17
 5.000
11/01/2027
523,210
Minneapolis-St Paul Metropolitan Airpor
0.17
 5.000
01/01/2030
522,320
Long Island Power Authority
0.17
 5.000
09/01/2026
521,949
Triborough Bridge & Tunnel Authority
0.17
 5.000
11/15/2027
521,477
Virginia Commonwealth Transportation Bo
0.17
 5.000
03/15/2027
521,375
State Of Michigan Trunk Line Revenue
0.17
 5.000
11/15/2027
521,095
County Of Miami-Dade Fl
0.17
 5.000
10/01/2029
520,692
Main Street Natural Gas Inc
0.17
 5.000
12/01/2052
520,172
Illinois Finance Authority
0.17
 5.000
01/01/2028
519,012
Tobacco Settlement Financing Corp
0.17
 5.000
06/01/2031
518,963
Tennessee Energy Acquisition Corp
0.17
 5.000
05/01/2053
518,675
New York State Dormitory Authority
0.17
 5.000
02/15/2027
518,347
City & County Of Honolulu Hi
0.17
 5.000
03/01/2027
517,890
New York State Urban Development Corp
0.17
 5.000
03/15/2027
517,573
State Of Maryland
0.17
 5.000
03/15/2028
517,327
Montgomery County Industrial Developmen
0.16
 5.500
10/01/2053
516,718
University Of Colorado
0.16
 4.000
06/01/2034
515,813
Commonwealth Of Massachusetts
0.16
 5.000
05/01/2027
515,781
Lower Colorado River Authority
0.16
 5.500
05/15/2027
515,290
Butler County Unified School District N
0.16
 4.000
09/01/2030
513,789
Commonwealth Of Massachusetts
0.16
 5.000
07/01/2027
513,677
Central Florida Expressway Authority
0.16
 5.000
07/01/2027
513,362
Tennessee Energy Acquisition Corp
0.16
 5.625
09/01/2026
512,907
Illinois Finance Authority
0.16
 5.000
08/15/2026
512,259
City Of New York Ny
0.16
 5.000
08/01/2027
511,983
California State Public Works Board
0.16
 5.000
09/01/2026
511,758
Wisconsin Health & Educational Faciliti
0.16
 4.000
08/15/2031
511,673
County Of Mecklenburg Nc
0.16
 4.000
04/01/2029
511,637
New Jersey Health Care Facilities Finan
0.16
 5.500
09/15/2026
511,159
New York City Transitional Finance Auth
0.16
 5.000
11/01/2026
509,588
City Of Colorado Springs Co Utilities S
0.16
 5.000
11/15/2026
509,153
Metropolitan Transportation Authority
0.16
 5.000
11/15/2026
508,988
City Of Forsyth Mt
0.16
 3.875
07/01/2028
508,450
City Of Portland Or Sewer System Revenu
0.16
 5.000
12/01/2026
508,413
Boulder Larimer & Weld Counties St Vrai
0.16
 5.000
12/15/2035
507,943
New Jersey Transportation Trust Fund Au
0.16
 5.000
12/15/2026
507,876
State Of Colorado
0.16
 5.000
12/15/2026
507,697
Salt River Project Agricultural Improve
0.16
 5.000
01/01/2027
507,482
North Texas Tollway Authority
0.16
 5.000
01/01/2027
507,020
East County Advanced Water Purification
0.16
 3.125
09/01/2026
506,821
Main Street Natural Gas Inc
0.16
 4.000
08/01/2052
505,626
New York State Housing Finance Agency
0.16
 5.500
11/01/2063
505,615
California Community Choice Financing A
0.16
 4.000
05/01/2053
505,350
New York State Housing Finance Agency
0.16
 3.800
11/01/2062
505,265
California Infrastructure & Economic De
0.16
 3.000
10/01/2047
504,979
Michigan State Housing Development Auth
0.16
 5.500
04/01/2030
504,971
California State University
0.16
 3.125
11/01/2051
504,799
County Of Bexar Tx
0.16
 5.000
06/15/2027
504,547
Los Angeles Unified School District/Ca
0.16
 5.000
07/01/2030
503,518
Maryland Community Development Administ
0.16
 3.300
01/01/2029
503,362
State Of Maryland Department Of Transpo
0.16
 3.000
09/01/2031
502,183
Commonwealth Of Pennsylvania
0.16
 3.000
01/01/2031
501,168
California State Public Works Board
0.16
 3.000
09/01/2031
496,749
Foothill-Eastern Transportation Corrido
0.16
 --
01/01/2027
495,154
City Of San Antonio Tx Electric & Gas S
0.16
 3.150
02/01/2055
491,197
County Of Miami-Dade Fl
0.15
 --
10/01/2031
460,884
New York City Transitional Finance Auth
0.15
 5.000
11/01/2027
459,336
State Of Mississippi
0.14
 5.000
10/01/2029
449,377
New Jersey Transportation Trust Fund Au
0.14
 5.000
06/15/2030
438,744
Pennsylvania Housing Finance Agency
0.14
 3.200
10/01/2031
428,578
City Of New York Ny
0.14
 5.000
03/01/2027
424,368
Illinois State Toll Highway Authority
0.13
 5.000
01/01/2027
421,027
Lone Star College System
0.13
 5.000
02/15/2033
409,783
Commonwealth Of Massachusetts
0.13
 5.000
10/01/2026
408,467
State Of Michigan
0.13
 3.000
05/01/2030
407,410
State Of Connecticut Special Tax Revenu
0.12
 5.000
07/01/2031
385,585
County Of Wake Nc
0.12
 5.000
09/01/2026
383,773
Allegheny County Hospital Development A
0.12
 5.000
07/15/2030
380,855
University Of Utah/The
0.12
 5.000
08/01/2031
372,552
Michigan State Housing Development Auth
0.12
 3.100
12/01/2031
370,849
City Of Chicago Il
0.12
 5.000
01/01/2027
368,841
Canadian County Educational Facilities
0.11
 3.000
09/01/2029
331,752
Lancaster County School District/Sc
0.10
 3.250
03/01/2032
326,189
Long Island Power Authority
0.10
 5.000
09/01/2031
318,231
California Health Facilities Financing
0.10
 5.000
08/15/2031
317,961
Kentucky State Property & Building Comm
0.09
 5.000
10/01/2030
274,802
South Dakota Health & Educational Facil
0.08
 5.000
09/01/2030
264,812
New York State Housing Finance Agency
0.08
 2.500
11/01/2060
264,780
Texas Water Development Board
0.08
 5.000
04/15/2030
260,737
County Of Mecklenburg Nc
0.08
 2.000
12/01/2030
236,532
--
0.78
 --
--
2,445,198
Other/Cash
-0.01
 --
--
-43,901
← 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 07/31/2026

  • Sector

    % of Net Assets

  • State GO

    18.20

  • Local GO

    14.27

  • Tax

    10.35

  • Utilities - Other

    10.18

  • Hospitals

    7.00

  • Power

    6.55

  • Education

    6.20

  • Water & Sewer

    5.50

  • Leasing COPS & Appropriations

    4.86

  • Transportation

    4.47

  • Refunded

    3.29

  • Multi-Family Housing

    2.51

  • Toll & Turnpike

    2.07

  • Airport

    1.02

  • Misc

    0.94

  • Pollution Control

    0.92

  • Single Family Housing

    0.67

  • Industrial Development Revenue

    0.40

  • Unassigned

    0.26

  • Tobacco

    0.17

  • Health

    0.16

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
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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