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SMB VanEck Vectors AMT-Free Short Municipal Index ETF

  • Fund Description

    The VanEck Vectors AMT-Free Short Municipal Index ETF (SMB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays AMT-Free Short Continuous Municipal Index (LMT1TR), which is intended to track the overall performance of the U.S. dollar denominated short-term tax-exempt bond market.

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    • Fund Ticker

      SMB
    • Exchange

      NYSE Arca
    • Commencement

      02/22/2008
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMT1TR
    • Index Rebalancing

      Monthly
  •  
    as of 09/26/16

    • 30-Day SEC Yield1

      0.86%
    • Total Net Assets

      $271.6M
    • Number of Holdings

      709
    • Options

      Expected
    • Gross Expense Ratio2

      0.20%
    • Net Expense Ratio/TER2

      0.20%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      09/30/2016
  • Geographical Weightings (%) as of 08/31/16

    • State

      % of Net Assets
    • California

      15.5
    • New York

      13.8
    • Texas

      9.9
    • New Jersey

      5.4
    • Florida

      5.4
    • Maryland

      5.0
    • Pennsylvania

      4.7
    • Illinois

      3.3
    • Washington

      3.0
    • Michigan

      2.7
    • Ohio

      2.6
    • Georgia

      2.5
    • Connecticut

      2.5
    • North Carolina

      2.3
    • Massachusetts

      2.0
    • Virginia

      1.9
    • Missouri

      1.7
    • Arizona

      1.5
    • Wisconsin

      1.4
    • Nebraska

      1.0
    • Other

      11.9
  • Portfolio Composition (%)
    as of 08/31/16

    • % of Net Assets
    • Stocks

      0.00
    • Bonds

      99.96
    • Other

      0.00
    • Cash

      0.04
  • Currency Exposure (%)
    as of 08/31/16

    • U.S. Dollar

      99.96
    • Other/Cash

      0.04
  • Credit Quality (%) as of 08/31/16

    Composite % of Net Assets
    Investment Grade AAA 18.75
    AA 52.67
    A 24.33
    BBB 3.19
    Non-Investment Grade BB 0.88
    Total Investment Grade -- 98.94
    Total Non-Investment Grade -- 0.88
    Not Rated -- 0.18
    Barclays Composite Rating: A blend of a security's Moody's, S&P, and Fitch ratings. If all three agencies rate the security, the middle rating is taken. If only two agencies rate a security, the lower rating is taken. If only one agency rates a security, that rating is used. Not rated indicates that a security is rated by fewer than one of the three rating agencies. This composite is not intended to be a credit opinion.
  • 3-YR Risk Measures*
    as of 08/31/16

    • Beta vs. S&P 500 Index

      -0.02
    • Correlation vs. S&P 500 Index

      -0.17
    • Volatility (Standard Deviation)

      1.36
    • Sharpe Ratio

      1.20

    Source: VanEck, FactSet

    *Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6

  • Sector Weightings (%) as of 08/31/16

    • Sector

      % of Net Assets
    • State

      22.8
    • Local

      17.1
    • Transportation

      13.0
    • Special Tax

      12.4
    • Water & Sewer

      8.9
    • Power

      6.7
    • Leasing

      6.5
    • Education

      5.7
    • Health Care

      4.1
    • Industrial Revenue

      2.3
    • Tobacco

      0.3
    • Housing

      0.1
    • Solid Waste/Res Recovery

      0.0