VANECK

COMMODITY

STRATEGY

ETF

SCHEDULE

OF

INVESTMENTS

December

31,

2023

(unaudited)

1

FootnoteRuleAboveBlank

Footnotes:

Par

(000's)

Value

Short-Term

Investments:

98.0%

United

States

Treasury

Obligations

:

98.0%

United

States

Treasury

Bills

5.24%,

04/11/24

$

7,009

$

6,908,128

5.32%,

02/06/24

8,019

7,977,879

5.33%,

03/07/24

7,532

7,461,265

5.40%,

01/16/24

4,664

4,654,474

27,001,746

Total

Short-Term

Investments:

98.0%

(Cost:

$26,997,092)

27,001,746

Other

assets

less

liabilities:

2.0%

553,272

NET

ASSETS:

100.0%

$

27,555,018

Futures

Contracts

Reference

Entity

Type

Number

of

Contracts

Expiration

Date

Notional

Amount

Value

and

Unrealized

Appreciation/

(Depreciation)

BRENT

CRUDE

FUTR  DEC24

Long

27

10/31/24

$

2,025,000

$

(66,928)

BRENT

CRUDE

FUTR  MAR24

Long

15

01/31/24

1,155,600

(15,549)

COPPER

FUTURE    

MAR24

Long

27

03/26/24

2,626,088

118,650

Corn

Long

9

09/13/24

223,650

(6,114)

COTTON

NO.2

FUTR  DEC24

Long

10

12/06/24

396,800

(6,156)

Gasoline

RBOB

Long

21

09/30/24

1,802,455

(120,934)

GASOLINE

RBOB

FUT

FEB24

Long

18

01/31/24

1,592,363

(21,268)

GOLD

100

OZ

FUTR  FEB24

Long

21

02/27/24

4,350,779

124,973

LIVE

CATTLE

FUTR  JUN24

Long

2

06/28/24

136,040

(13,952)

LME

LEAD

FUTURE  

FEB24

Long

2

02/19/24

103,125

593

LME

LEAD

FUTURE  

JAN24

Long

2

01/15/24

102,213

(3,257)

LME

PRI

ALUM

FUTR

FEB24

Long

2

02/19/24

118,450

4,868

LME

PRI

ALUM

FUTR

JAN24

Long

2

01/15/24

117,575

7,230

LME

ZINC

FUTURE  

JAN24

Long

5

01/15/24

330,375

19,824

LME

ZINC

FUTURE  

MAR24

Long

5

03/18/24

332,938

15,513

LOW

SU

GASOIL

G  

APR24

Long

9

04/11/24

654,750

(9,943)

NATURAL

GAS

FUTR  MAR24

Long

22

02/27/24

511,940

(176,172)

NY

HARB

ULSD

FUT  FEB24

Long

8

01/31/24

849,710

(28,726)

NY

Harbor

ULSD

Long

19

03/28/24

1,955,898

12,933

Soybean

Long

34

09/13/24

2,141,575

(20,981)

Soybean

Meal

Long

8

03/14/24

308,800

(22,834)

SOYBEAN

OIL

FUTR  OCT24

Long

24

10/14/24

691,056

(39,819)

Sugar

No.

11

Long

95

04/30/24

2,172,688

(345,050)

VANECK

COMMODITY

STRATEGY

ETF

SCHEDULE

OF

INVESTMENTS

(unaudited)

(continued)

2

WTI

CRUDE

FUTURE  DEC24

Long

29

11/20/24

$

2,038,700

$

(73,780)

WTI

CRUDE

FUTURE  FEB24

Long

17

01/22/24

1,218,050

(56,264)

LME

LEAD

FUTURE  

JAN24

Short

2

01/15/24

102,213

(420)

LME

PRI

ALUM

FUTR

JAN24

Short

2

01/15/24

117,575

(4,870)

LME

ZINC

FUTURE  

JAN24

Short

5

01/15/24

330,375

(14,800)

Net

unrealized

appreciation/(depreciation)

on

futures

contracts

$

(743,233)

Summary

of

Investments

by

Sector

%

of

Investments

Value

Government

100.0%

$

27,001,746