VANECK VECTORS INDIA SMALL-CAP INDEX ETF

SCHEDULE OF INVESTMENTS (a)

September 30, 2019 (unaudited)

Number of Shares			Value
COMMON STOCKS: 100.0%
Automobiles & Components: 1.2%
	73,695	Ceat Ltd. #	$	996,222
	483,972	Jamna Auto Industries Ltd. #		256,115
	299,070	JK Tyre & Industries Ltd. #		296,191
				1,548,528
Banks: 7.0%
	1,359,354	Andhra Bank * #		329,083
	161,728	Can Fin Homes Ltd. #		898,864
	800,184	Development Credit Bank Ltd. #		2,206,423
	952,920	Dewan Housing Finance Corp. Ltd. * #		522,717
	65,407	GIC Housing Finance Ltd. #		131,907
	1,127,262	Jammu & Kashmir Bank Ltd. * #		532,701
	700,811	Karnataka Bank Ltd. #		748,691
	1,617,777	Karur Vysya Bank Ltd. #		1,364,733
	340,810	Lakshmi Vilas Bank Ltd. * #		167,377
	832,125	Oriental Bank of Commerce * #		709,409
	4,487,747	South Indian Bank Ltd. #		687,574
	1,358,183	Syndicate Bank * #		513,259
				8,812,738
Capital Goods: 17.9%
	50,582	BEML Ltd. #		682,192
	166,120	Dilip Buildcon Ltd. Reg S 144A #		977,325
	767,517	Engineers India Ltd. #		1,272,015
	316,373	Escorts Ltd. #		2,594,596
	385,616	Graphite India Ltd. #		1,585,483
	296,613	Greaves Cotton Ltd. #		611,997
	58,597	HEG Ltd. #		789,450
	3,752,006	Hindustan Construction Co. Ltd. * #		453,199
	34,950	IndiaMart InterMesh Ltd. Reg S 144A *		872,433
	747,022	IRB Infrastructure Developers Ltd. * #		784,871
	1,507,210	Jain Irrigation Systems Ltd. #		412,959
	321,768	Kajaria Ceramics Ltd. #		2,494,962
	312,259	KEC International Ltd. #		1,205,413
	187,730	KEI Industries Ltd.		1,439,455
	759,122	MMTC Ltd. #		177,993
	2,036,640	Nagarjuna Construction Co. Ltd. #		1,584,051
	445,901	Nava Bharat Ventures Ltd. #		517,299
	2,186,273	NBCC India Ltd. #		1,077,784
	41,800	Nissei ASB Machine Co. Ltd. #		1,320,470
	222,088	Praj Industries Ltd. #		351,745
	1,266,227	Rail Vikas Nigam Ltd. Reg S #		430,772
	13,191,970	Suzlon Energy Ltd. * #		419,132
	273,113	Texmaco Rail & Engineering Ltd. #		182,536
	179,862	Welspun Enterprises Ltd. #		240,887
				22,479,019
Commercial & Professional Services: 1.6%
	214,427	Quess Corp. Ltd. Reg S 144A * #		1,420,842
	164,477	RITES Ltd. #		616,519
				2,037,361
Consumer Durables & Apparel: 6.6%
	38,196	Amber Enterprises India Ltd. * #		490,113
	641,691	Arvind Ltd. #		434,279
	124,418	Bajaj Electricals Ltd. #		686,730
	250,856	Bombay Dyeing & Manufacturing Co. Ltd. #		275,573
	13,756	Dixon Technologies India Ltd. Reg S #		563,825
	119,586	Himatsingka Seide Ltd. #		241,739
	243,552	Jindal Worldwide Ltd. #		197,125
	30,671	LUX Industries Ltd. #		521,062
	74,554	Raymond Ltd. #		588,055
	296,673	Swan Energy Ltd. #		460,303
	74,651	TCNS Clothing Co. Ltd. Reg S 144A *		768,591
	593,162	Trident Ltd. #		495,234
	15,432	TTK Prestige Ltd.		1,355,043
	171,643	VIP Industries Ltd. #		1,162,124
				8,239,796
Consumer Services: 1.3%
	1,298,085	Chennai Super Kings Cricket Ltd. * # ∞ ø		10,303
	329,080	Delta Corp. Ltd. #		785,062
	962,259	Lemon Tree Hotels Ltd. Reg S 144A * #		775,880
				1,571,245
Diversified Financials: 5.1%
	62,903	BSE Ltd. #		501,440
	186,129	Capri Global Capital Ltd. #		564,401
	98,405	Care Ratings Ltd. #		720,607
	126,924	Central Depository Services India Ltd. Reg S #		366,853
	3,877,858	IDFC Ltd. #		1,882,896
	3,776,566	IFCI Ltd. * #		375,559
	87,751	Multi Commodity Exchange of India Ltd. #		1,190,365
	639,457	Reliance Capital Ltd. #		222,267
	117,146	Repco Home Finance Ltd. #		517,531
				6,341,919
Energy: 0.5%
	180,868	Chennai Petroleum Corp. Ltd. * #		444,494
	158,496	Hindustan Oil Exploration Co. Ltd. * #		219,970
				664,464
Food, Beverage & Tobacco: 6.8%
	165,484	Avanti Feeds Ltd. #		858,643
	656,894	Balrampur Chini Mills Ltd. #		1,433,293
	155,365	Bombay Burmah Trading Co. #		2,490,671
	52,626	Godfrey Phillips India Ltd. #		714,341
	118,210	Kaveri Seed Co. Ltd. #		826,951
	170,276	Parag Milk Foods Ltd. Reg S 144A #		372,922
	270,063	Radico Khaitan Ltd. #		1,201,939
	313,298	Triveni Engineering & Industries Ltd.		264,144
	17,110	Venky’s India Ltd. #		386,525
				8,549,429
Health Care Equipment & Services: 0.8%
	326,321	Max India Ltd. *		289,858
	179,679	Take Solutions Ltd. #		262,702
	64,129	Thyrocare Technologies Ltd. Reg S 144A		466,746
				1,019,306
Materials: 16.2%
	135,642	Advanced Enzyme Technologies Ltd. Reg S		297,242
	36,028	Atul Ltd.		2,031,877
	201,507	Bhansali Engineering Polymers Ltd. #		165,716
	269,851	Century Plyboards India Ltd. #		606,674
	505,523	Chambal Fertilizers & Chemicals Ltd. #		1,098,209
	189,407	DCM Shriram Ltd. #		1,081,789
	214,976	EID Parry India Ltd.  #		500,043
	119,290	GHCL Ltd. #		355,267
	188,771	Gujarat Narmada Valley Fertilizers Co. Ltd. #		539,317
	508,441	Himadri Speciality Chemical Ltd. #		581,584
	561,883	Hindustan Copper Ltd. #		279,393
	627,333	India Cements Ltd. #		700,394
	47,056	International Paper APPM Ltd. *		242,621
	243,836	Jai Corp. Ltd. #		284,983
	598,739	Jindal Saw Ltd. #		725,224
	286,566	Jindal Stainless Hisar Ltd. * #		257,417
	142,921	JK Lakshmi Cement Ltd.		611,564
	216,494	JK Paper Ltd. #		458,536
	38,070	Kiri Industries Ltd. #		222,373
	308,888	Meghmani Organics Ltd. #		230,675
	180,137	Mishra Dhatu Nigam Ltd. Reg S 144A #		322,237
	312,891	MOIL Ltd. #		603,972
	2,454,801	National Aluminium Co. Ltd. #		1,610,126
	347,581	National Fertilizers Ltd. #		121,836
	18,124	Nilkamal Ltd. #		309,297
	200,953	NOCIL Ltd. #		318,475
	209,320	Phillips Carbon Black Ltd. #		351,347
	611,375	Prism Johnson Ltd. #		714,960
	408,524	Rain Industries Ltd. #		553,072
	236,201	Rallis India Ltd. #		590,428
	670,077	Rashtriya Chemicals & Fertilizers Ltd. #		455,879
	171,647	SH Kelkar & Co. Ltd. Reg S 144A * #		333,959
	800,036	Sintex Plastics Technology Ltd. * #		41,261
	84,084	Sudarshan Chemical Industries #		454,270
	66,085	Surya Roshni Ltd. #		167,911
	84,062	Tamil Nadu Newsprint & Papers Ltd. #		249,100
	34,112	Tata Metaliks Ltd. #		258,839
	127,129	Tinplate Co. of India Ltd. #		225,292
	87,709	Uflex Ltd. #		266,630
	590,594	Welspun Corp. Ltd. #		1,114,321
				20,334,110
Media & Entertainment: 5.7%
	351,716	DEN Networks Ltd. *		240,950
	4,472,755	Dish TV India Ltd. #		1,146,935
	230,486	Eros International Plc (USD) *		440,228
	118,149	Just Dial Ltd. * #		1,151,472
	118,365	PVR Ltd. #		3,080,810
	72,465	TV Today Network Ltd.		317,903
	2,255,775	TV18 Broadcast Ltd. * #		761,698
				7,139,996
Pharmaceuticals, Biotechnology: 9.2%
	125,281	Bliss Gvs Pharma Ltd. #		182,254
	630,483	Granules India Ltd. #		932,815
	223,806	Ipca Laboratories Ltd. #		2,853,635
	97,456	JB Chemicals & Pharmaceuticals Ltd. #		510,123
	362,741	Jubilant Life Sciences Ltd. #		2,588,362
	20,162	Procter & Gamble Health Ltd. #		1,335,399
	203,937	Strides Pharma Science Ltd. #		886,973
	424,339	Sun Pharma Advanced Research Co. Ltd. * #		754,233
	257,661	Suven Life Sciences Ltd. #		1,012,906
	145,657	Wockhardt Ltd. * #		527,640
				11,584,340
Real Estate: 2.8%
	552,569	Anant Raj Industries Ltd. #		264,255
	1,265,532	Indiabulls Real Estate Ltd. * #		822,266
	222,150	OMAXE Ltd.		600,445
	115,200	Sobha Developers Ltd. #		795,849
	177,749	Sunteck Realty Ltd. #		1,018,575
				3,501,390
Retailing: 0.9%
	805,753	Infibeam Avenues Ltd. #		459,382
	839,594	PC Jeweller Ltd. #		382,754
	64,815	Yatra Online, Inc. (USD) *		267,038
				1,109,174
Software & Services: 10.8%
	825,504	Birlasoft Ltd. #		806,964
	841,890	Firstsource Solutions Ltd. #		558,425
	160,546	Intellect Design Arena Ltd. * #		413,359
	34,550	Majesco Ltd. #		215,573
	59,549	Mastek Ltd.		292,624
	84,518	Newgen Software Technologies Ltd. #		318,754
	416,260	NIIT Ltd. #		536,993
	153,333	NIIT Technologies Ltd. #		3,019,320
	189,518	Persistent Systems Ltd. #		1,524,525
	159,657	Sonata Software Ltd. #		746,204
	75,583	Tata Elxsi Ltd. #		722,689
	2,627,113	Vakrangee Software Ltd. #		1,121,386
	91,745	Virtusa Corp. (USD) *		3,304,655
				13,581,471
Technology Hardware & Equipment: 2.1%
	905,772	Redington India Ltd. #		1,503,324
	489,621	Sterlite Technologies Ltd. #		1,088,565
				2,591,889
Telecommunication Services: 0.7%
	3,184,998	Himachal Futuristic Communications Ltd. #		809,628
Transportation: 1.4%
	34,010	Dredging Corp. of India Ltd. #		160,092
	258,620	Gateway Distriparks Ltd.		395,217
	86,781	Mahindra Logistics Ltd. Reg S 144A		439,606
	565,757	Shipping Corp of India Ltd. * #		345,762
	109,730	VRL Logistics Ltd.		428,430
				1,769,107
Utilities: 1.4%
	3,512,186	Jaiprakash Power Ventures Ltd. *		74,338
	898,826	PTC India Ltd. #		714,824
	652,163	Reliance Infrastructure Ltd. #		270,078
	3,407,093	Reliance Power Ltd. *		105,767
	135,622	VA Tech Wabag Ltd. * #		519,295
				1,684,302
Total Common Stocks (Cost: $138,106,507)				125,369,212
Other assets less liabilities: 0.0%				43,576
NET ASSETS: 100.0%			$	125,412,788

Definitions:

USD United States Dollar

Footnotes:

(a)	Represents Consolidated Schedule of Investments.
*	Non-income producing
#	Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $109,822,437 which represents 87.6% of net assets.
ø	Restricted Security – the aggregate value of restricted securities is $10,303, or 0.0% of net assets
∞	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
Reg S	Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $6,750,541, or 5.4% of net assets.

Restricted securities held by the Fund as of September 30, 2019 are as follows:

Security	Acquisition Date	Number of Shares	Acquisition Cost		Value		% of Net Assets
Chennai Super Kings Cricket Ltd.	10/08/15	1,298,085	$	35,108	$	10,303	0.0	%

Summary of Investments by Sector	% of Investments			Value
Communication Services		6.3	%	$	7,949,624
Consumer Discretionary		10.0			12,468,743
Consumer Staples		6.8			8,549,429
Energy		0.5			664,464
Financials		12.1			15,154,657
Health Care		10.1			12,603,646
Industrials		21.0			26,285,487
Information Technology		12.9			16,173,360
Materials		16.2			20,334,110
Real Estate		2.8			3,501,390
Utilities		1.3			1,684,302
		100.0	%	$	125,369,212