VANECK

MORNINGSTAR

DURABLE

DIVIDEND

ETF

SCHEDULE

OF

INVESTMENTS

December

31,

2023

(unaudited)

1

Number

of

Shares

Value

COMMON

STOCKS:

100.4%

Banks

:

5.8%

JPMorgan

Chase

&

Co.

21,713‌

$

3,693,381‌

Underline

Capital

Goods

:

6.0%

Emerson

Electric

Co.

4,751‌

462,415‌

General

Dynamics

Corp.

2,093‌

543,489‌

Honeywell

International,

Inc.

5,823‌

1,221,141‌

L3Harris

Technologies,

Inc.

1,990‌

419,134‌

Lockheed

Martin

Corp.

2,506‌

1,135,819‌

MSC

Industrial

Direct

Co.,

Inc.

621‌

62,883‌

3,844,881‌

Commercial

&

Professional

Services

:

0.7%

Paychex,

Inc.

3,512‌

418,314‌

Underline

Consumer

Durables

&

Apparel

:

0.3%

Garmin

Ltd.

1,677‌

215,561‌

Underline

Consumer

Services

:

4.6%

McDonald's

Corp.

6,347‌

1,881,949‌

Starbucks

Corp.

9,967‌

956,932‌

Wendy's

Co.

2,890‌

56,297‌

2,895,178‌

Consumer

Staples

Distribution

&

Retail

:

0.7%

Albertsons

Cos,

Inc.

1,649‌

37,927‌

Sysco

Corp.

5,720‌

418,304‌

456,231‌

Energy

:

6.6%

Chevron

Corp.

18,905‌

2,819,870‌

Diamondback

Energy,

Inc.

3,153‌

488,967‌

Kinder

Morgan,

Inc.

52,090‌

918,868‌

4,227,705‌

Financial

Services

:

5.4%

BlackRock,

Inc.

1,682‌

1,365,448‌

CME

Group,

Inc.

5,366‌

1,130,080‌

Cohen

&

Steers,

Inc.

357‌

27,036‌

Evercore,

Inc.

284‌

48,578‌

Federated

Hermes,

Inc.

1,052‌

35,621‌

Franklin

Resources,

Inc.

5,107‌

152,137‌

Invesco

Ltd.

8,967‌

159,971‌

T

Rowe

Price

Group,

Inc.

3,811‌

410,406‌

Western

Union

Co.

10,915‌

130,107‌

3,459,384‌

Food,

Beverage

&

Tobacco

:

17.3%

Altria

Group,

Inc.

60,464‌

2,439,118‌

Campbell

Soup

Co.

2,823‌

122,038‌

Conagra

Brands,

Inc.

8,622‌

247,107‌

General

Mills,

Inc.

7,789‌

507,375‌

Hormel

Foods

Corp.

3,330‌

106,926‌

Kellanova

4,031‌

225,373‌

Keurig

Dr.

Pepper,

Inc.

8,015‌

267,060‌

Kraft

Heinz

Co.

15,397‌

569,381‌

Mondelez

International,

Inc.

11,795‌

854,312‌

PepsiCo,

Inc.

14,989‌

2,545,732‌

Philip

Morris

International,

Inc.

33,084‌

3,112,543‌

10,996,965‌

Health

Care

Equipment

&

Services

:

4.8%

Abbott

Laboratories

13,413‌

1,476,369‌

Medtronic

Plc

17,663‌

1,455,078‌

Number

of

Shares

Value

Health

Care

Equipment

&

Services

(continued)

Quest

Diagnostics,

Inc.

931‌

$

128,366‌

3,059,813‌

Household

&

Personal

Products

:

2.0%

Colgate-Palmolive

Co.

8,573‌

683,354‌

Kimberly-Clark

Corp.

4,880‌

592,969‌

1,276,323‌

Insurance

:

1.3%

American

International

Group,

Inc.

6,351‌

430,280‌

Travelers

Cos,

Inc.

2,141‌

407,839‌

838,119‌

Materials

:

0.9%

Air

Products

and

Chemicals,

Inc.

2,008‌

549,790‌

Underline

Media

&

Entertainment

:

2.8%

Comcast

Corp.

40,969‌

1,796,491‌

Underline

Pharmaceuticals,

Biotechnology

&

Life

Sciences

:

17.2%

Amgen,

Inc.

7,055‌

2,031,981‌

Bristol-Myers

Squibb

Co.

31,240‌

1,602,924‌

Gilead

Sciences,

Inc.

19,504‌

1,580,019‌

Johnson

&

Johnson

19,884‌

3,116,618‌

Pfizer,

Inc.

90,598‌

2,608,317‌

10,939,859‌

Semiconductors

&

Semiconductor

Equipment

:

2.8%

Texas

Instruments,

Inc.

10,506‌

1,790,853‌

Underline

Technology

Hardware

&

Equipment

:

3.5%

Cisco

Systems,

Inc.

43,604‌

2,202,874‌

Underline

Transportation

:

3.7%

Norfolk

Southern

Corp.

2,383‌

563,294‌

United

Parcel

Service,

Inc.

11,257‌

1,769,938‌

2,333,232‌

Utilities

:

14.0%

Alliant

Energy

Corp.

3,559‌

182,577‌

Ameren

Corp.

3,241‌

234,454‌

American

Water

Works

Co.,

Inc.

1,527‌

201,549‌

CenterPoint

Energy,

Inc.

6,784‌

193,819‌

CMS

Energy

Corp.

4,020‌

233,441‌

DTE

Energy

Co.

2,987‌

329,347‌

Duke

Energy

Corp.

13,969‌

1,355,552‌

Essential

Utilities,

Inc.

3,103‌

115,897‌

Exelon

Corp.

13,864‌

497,717‌

FirstEnergy

Corp.

9,488‌

347,830‌

New

Jersey

Resources

Corp.

1,421‌

63,348‌

NextEra

Energy,

Inc.

22,240‌

1,350,858‌

OGE

Energy

Corp.

3,898‌

136,157‌

Pinnacle

West

Capital

Corp.

2,035‌

146,194‌

PPL

Corp.

11,023‌

298,723‌

Public

Service

Enterprise

Group,

Inc.

7,333‌

448,413‌

Sempra

8,294‌

619,811‌

Southern

Co.

17,847‌

1,251,432‌

WEC

Energy

Group,

Inc.

4,639‌

390,465‌

VANECK

MORNINGSTAR

DURABLE

DIVIDEND

ETF

SCHEDULE

OF

INVESTMENTS

(continued)

2

FootnoteRuleAboveBlank

Footnotes:

Number

of

Shares

Value

Utilities

(continued)

Xcel

Energy,

Inc.

7,773‌

$

481,226‌

8,878,810‌

Total

Common

Stocks

(Cost:

$64,294,858)

63,873,764‌

Total

Investments:

100.4%

(Cost:

$64,294,858)

63,873,764‌

Liabilities

in

excess

of

other

assets:

(0.4)%

(282,826‌)

NET

ASSETS:

100.0%

$

63,590,938‌

Summary

of

Investments

by

Sector

%

of

Investments

Value

Health

Care

21.9‌

%

$

13,999,672‌

Consumer

Staples

19.9‌

12,729,519‌

Utilities

13.9‌

8,878,810‌

Financials

12.5‌

7,990,884‌

Industrials

10.4‌

6,596,427‌

Energy

6.6‌

4,227,705‌

Information

Technology

6.3‌

3,993,727‌

Consumer

Discretionary

4.8‌

3,110,739‌

Communication

Services

2.8‌

1,796,491‌

Materials

0.9‌

549,790‌

100.0‌

%

$

63,873,764‌