MAAX

Fund Description
The Fund normally invests at least 80% of its total assets in investments the income from which is exempt from U.S. federal income tax (other than AMT). The Fund is an actively managed exchange-traded fund ( ETF ) that seeks to achieve its investment objective by investing, under normal circumstances, primarily in VanEck Vectors ETFs that are registered under the applicable federal securities laws and that invest in publicly traded municipal bonds that cover the U.S. dollar-denominated investment grade and below investment grade (high yield or junk bonds) tax-exempt bond market. While the Adviser currently anticipates that the Fund will invest primarily in other VanEck Vectors ETFs, the Fund may also invest in unaffiliated exchange-traded products ( ETPs ), which could include ETFs and closed-end funds. The Fund does not have any limits on its investments in below investment grade securities ( junk bonds), and the Fund will have indirect exposure to below investment grade securities through its investments in ETPs. The Fund s investment policy to invest at least 80% of its total assets in investments the income from which is exempt from U.S. federal income tax (other than AMT) may not be changed without shareholder approval. The Fund may count investments that generate income subject to the AMT toward its 80%investment policy. For purposes of this policy, the term assets means net assets plus the amount of any borrowings for investment purposes. This percentage limitation applies at the time of the investment.
Fund Profile
Fund Name Vaneck Vectors Municipal Allocation ETF
Fund Exchange Ticker MAAX
Fund Sponsor Van Eck Associates Corporation
Fund ISIN US92189H5081
Net Expense Ratio 0.36 %
Fund Inception Date 15 May 2019
Fund Legal Structure ETF (Open end fund)
Exchange BATS
Listing Country Code US
Fund Investment Objective
ETF Type Specific Bonds - Municipal
Asset Class Bonds
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Developed Market Funds
Bond Type Municipal
Credit Quality Fund Holds Both Investment Grade & High Yield
Average Maturity Fund Holds All Maturity Ranges
Bond Currency Denomination USD
Key Statistics
Return As of Date 13 September 2019
Asset Under Management 2.54 Million (USD)
1 Month Total Return -1.29 %
Year To Date Return
1 Year Total Return
3 Year Annualized Total Return
NAV 25.38
Share Outstanding 100,000
Top 10 Holdings (13 September 2019)
Constituent Name Constituent Ticker Constituent Type Weighting
VANECK HIGH-YIELD MUNICIPAL HYD ETF 0.3970000000
VANECK AMT-FREE LONG MUNI MLN ETF 0.2987000000
VANECK AMT-FREE INTERM MUNI ITM ETF 0.1987000000
VANECK SHORT HIGH-YLD MUNI SHYD ETF 0.0989000000
Other BOND 0.0067000000