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Daily Price as of 11/19/19

NAV DAILY CHANGE
$31.33 $0.00 / +0.0%

Class I Details: MWMIX

INCEPTION DATE GROSS/NET EXPENSES1
11/06/17 3.42%/0.59%

Fund Summary and Key Points

The VanEck Morningstar Wide Moat Fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Morningstar® Wide Moat Focus IndexSM (MWMFTR), which is intended to track the overall performance of attractively priced companies with sustainable competitive advantages according to Morningstar's equity research team.

  • The Morningstar® Wide Moat Focus IndexSM contains at least 40 attractively priced U.S. companies with sustainable competitive advantages, or “moats”
  • Morningstar equity analysts use a rigorous proprietary process to determine if a company has an economic moat, which may allow them to earn above average returns on capital over a long period of time
  • Companies included in the Index are also determined to be trading at attractive prices relative to Morningstar’s estimate of fair value

Fund Details
as of 10/31/19

  • Net Assets (All Classes)
    $8.1M
  • Number of Holdings
    51
  • Avg. Wtd. Market Cap
    $54.6B
  • Turnover Rate (2018)
    75.6%
  • P/E (LTM) / P/E (Forward)*
    21.4 / 17.5
  • P/B (LTM)*
    4.0
  • Benchmark Index
    Morningstar® Wide Moat Focus IndexSM
*Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(11/06/17)
VanEck Morningstar Wide Moat Fund: Class I
At Net Asset Value 4.12 5.49 26.73 20.69 -- -- -- 15.37
Morningstar® Wide Moat Focus IndexSM 2 4.17 5.63 27.41 21.34 18.42 12.90 15.63 16.08
S&P 500 Index3 2.17 2.43 23.16 14.33 14.91 10.78 13.70 10.52
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(11/06/17)
VanEck Morningstar Wide Moat Fund: Class I
At Net Asset Value 3.74 4.26 21.72 9.19 -- -- -- 13.66
Morningstar® Wide Moat Focus IndexSM 2 3.79 4.42 22.31 9.77 15.92 12.15 14.38 14.37
S&P 500 Index3 1.87 1.70 20.55 4.25 13.39 10.84 13.24 9.77

Top 10 Holdings (%)

Holdings Sector % of Net Assets
Biogen Inc. Health Care 3.0
Bristol-Myers Squibb Company Health Care 2.7
State Street Corporation Financials 2.7
Intel Corporation Information Technology 2.6
Amgen Inc. Health Care 2.6
United Technologies Corporation Industrials 2.5
Polaris Inc Consumer Discretionary 2.5
Wells Fargo & Company Financials 2.5
Emerson Electric Co. Industrials 2.5
Zimmer Biomet Holdings, Inc. Health Care 2.5
Top 10 Total 26.1
Holdings Sector % of Net Assets
NIKE, Inc. Class B Consumer Discretionary 2.7
Kellogg Company Consumer Staples 2.7
Zimmer Biomet Holdings, Inc. Health Care 2.6
Wells Fargo & Company Financials 2.6
Medtronic Plc Health Care 2.6
Dominion Energy Inc Utilities 2.5
United Technologies Corporation Industrials 2.5
Bristol-Myers Squibb Company Health Care 2.5
Intel Corporation Information Technology 2.5
Emerson Electric Co. Industrials 2.5
Top 10 Total 25.7
These are not recommendations to buy or sell any security. Holdings may vary.

Sector Weightings (%)
as of 10/31/19

Sector % of Net Assets
Health Care 22.8
Information Technology 18.1
Financials 12.4
Industrials 11.1
Consumer Discretionary 10.9
Consumer Staples 8.6
Communication Services 6.1
Energy 4.2
Utilities 2.5
Materials 2.3
Cash 1.0

Important Disclosure

^Equity analysts referred to are part of Morningstar’s Equity Research group which consists of various wholly-owned subsidiaries of Morningstar, Inc., including but not limited to, Morningstar Research Services LLC.

1Van Eck Associates Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 0.59% for Class I, and 0.49% for Class Z of the Fund’s average daily net assets per year until May 1, 2020. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation. Other expenses and acquired fund fees and expenses are based on estimated amounts for the current fiscal year.

Effective June 20, 2016, Morningstar implemented several changes to the Morningstar Wide Moat Focus Index construction rules. Among other changes, the index increased its constituent count from 20 stocks to at least 40 stocks and modified its rebalance and reconstitution methodology. These changes may result in more diversified exposure, lower turnover, and longer holding periods for index constituents than under the rules in effect prior to this date. Past performance is no guarantee of future results.

2The Morningstar®Wide Moat Focus IndexSMwas created and is maintained by Morningstar, Inc. Morningstar, Inc. does not sponsor, endorse, issue, sell, or promote the VanEck Morningstar Wide Moat Fund and bears no liability with respect to the Fund or any security. Morningstar®is a registered trademark of Morningstar, Inc. Morningstar®Wide Moat Focus IndexSMis a service mark of Morningstar, Inc.

The Morningstar®Wide Moat Focus IndexSMconsists of companies identified as having sustainable, competitive advantages and whose stocks are attractively priced, according to Morningstar.

3The S&P 500®Index consists of 500 widely held common stocks covering the leading industries of the U.S. economy.

The S&P 500 Index (“Index”) is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Van Eck Associates Corporation. Copyright © 2018 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P is a registered trademark of S&P Global and Dow Jones®is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program rather than a complete program. An investment in the Fund may be subject to risks which include, among others, investing in concentration, equity securities, index tracking and data, consumer staples, financial services, the health care, information technology, underlying fund, market, medium-capitalization companies, non-diversification, operational and replication management risks, which may make these investments volatile in price or difficult to trade. Medium-capitalization companies may be subject to elevated risks. The Fund's assets may be concentrated in a particular sector and may be subject to more risk than investments in a diverse group of sectors.

Investing involves risk, including possible loss of principal. Please call 800.826.2333 or visit vaneck.com for a free prospectus and summary prospectus. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read the prospectus and summary prospectus carefully before investing.