NPORT-EX 2 NPORT_VSMB_69255799_0124.htm
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
January
31,
2024
(unaudited)
1
Par
(000's)
Value
MUNICIPAL
BONDS:
98.7%
Alabama
:
3.4%
Alabama
Federal
Aid
Highway
Finance
Authority,
Series
A
(RB)
5.00%,
06/01/37 (c)
$
1,000
$
1,083,342
Alabama
Public
School
and
College
Authority,
Series
A
(RB)
5.00%,
11/01/27
515
560,405
Black
Belt
Energy
Gas
District
Gas,
Project
No.
4,
Series
A
(RB)
4.00%,
12/01/49 (c)
(p)
1,000
1,002,322
Black
Belt
Energy
Gas
District,
Series
C-1
(RB)
4.00%,
10/01/52 (c)
(p)
600
601,089
County
of
Jefferson
(RB)
5.00%,
09/15/28 (c)
525
559,485
Lower
Alabama
Gas
District,
Project
No.
2
(RB)
(SAW)
4.00%,
12/01/50 (c)
(p)
1,500
1,501,691
Southeast
Energy
Authority,
Cooperative
District
Commodity
Supply,
Series
A
(RB)
5.25%,
01/01/54 (c)
(p)
1,000
1,067,094
The
Black
Belt
Energy
Gas
District,
Gas
Project,
Series
E
(RB)
5.00%,
05/01/53 (p)
1,000
1,045,515
Tuscaloosa
City
Board
of
Education
(RB)
5.00%,
08/01/46 (c)
1,055
1,111,706
8,532,649
Alaska
:
0.3%
Alaska
Housing
Finance
Corp.,
Series
A
(RB)
4.00%,
12/01/28 (c)
700
708,116
Underline
Arizona
:
1.4%
Arizona
Industrial
Development
Authority,
Series
A
(RB)
5.00%,
11/01/28 (c)
500
534,253
City
of
Phoenix
Civic
Improvement
Corp.,
Junior
Lien
Wastewater
System
(RB)
5.00%,
07/01/29 (c)
620
651,533
Maricopa
County
Industrial
Development
Authority,
Banner
Health,
Series
A
(RB)
5.00%,
01/01/26
700
727,626
5.00%,
01/01/53 (c)
(p)
500
519,202
Salt
River
Project
Agricultural
Improvement
&
Power
District,
Series
A
(RB)
5.00%,
01/01/26
500
521,349
5.00%,
01/01/27
500
534,211
3,488,174
Par
(000’s)
Value
California
:
17.4%
Bay
Area
Toll
Authority,
San
Francisco
Bay
Area,
Series
A
(RB)
2.95%,
04/01/47 (c)
(p)
$
1,180
$
1,158,937
Bay
Area
Toll
Authority,
Series
B
(RB)
2.85%,
04/01/47 (c)
(p)
385
381,677
Bay
Area
Toll
Authority,
Series
G
(RB)
2.00%,
04/01/53 (c)
(p)
725
722,744
California
Community
Choice
Financing
Authority,
Clean
Energy,
Series
A-1
(RB)
4.00%,
05/01/53 (c)
(p)
500
503,267
California
Community
Choice
Financing
Authority,
Clean
Energy,
Series
D
(RB)
5.50%,
05/01/54 (c)
(p)
1,000
1,070,143
California
Health
Facilities
Financing
Authority,
Kaiser
Permanente,
Series
A-1
(RB)
5.00%,
11/01/27
500
545,956
California
Health
Facilities
Financing
Authority,
Providence
St.
Joseph
Health,
Series
B-2
(RB)
4.00%,
10/01/36 (c)
(p)
500
500,336
California
Health
Facilities
Financing
Authority,
Providence
St.
Joseph
Health,
Series
B-3
(RB)
2.00%,
10/01/36 (c)
(p)
335
324,832
California
Health
Facilities
Financing
Authority,
Providence
St.
Joseph
Health,
Series
C
(RB)
5.00%,
10/01/39 (p)
585
597,130
California
Infrastructure
And
Economic
Development
Bank,
Series
B-2
(RB)
3.00%,
10/01/47 (c)
(p)
500
500,049
California
State
Public
Works
Board,
Series
B
(RB)
5.00%,
10/01/26
830
879,955
5.00%,
10/01/28 (c)
785
849,455
California
State
Public
Works
Board,
Series
C
(RB)
5.00%,
11/01/29
675
768,172
California
State
Public
Works
Board,
Various
Capital
Projects,
Series
D
(RB)
5.00%,
09/01/26
500
529,036
California
State
University,
Systemwide,
Series
B-3
(RB)
3.12%,
11/01/51 (c)
(p)
500
503,012
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
2
Par
(000’s)
Value
California
(continued)
California
Statewide
Communities
Development
Authority,
Pollution
Control,
Southern
California
Edison
Company,
Series
A
(RB)
1.75%,
09/01/29 (c)
$
500
$
440,029
City
&
County
of
San
Francisco,
Series
R-1
(GO)
4.00%,
06/15/28 (c)
1,000
1,000,498
City
of
San
Francisco,
Public
Utilities
Commission
Water,
Series
C
(RB)
5.00%,
11/01/28
500
562,801
Foothill-Eastern
Transportation
Corridor
Agency,
Series
A
(RB)
0.00%,
01/01/27 ^
500
460,849
Golden
State
Tobacco
Securitization
Corp.,
Enhanced
Tobacco
Settlement,
Series
A
(RB)
5.00%,
06/01/40 (c)
1,000
1,029,147
5.00%,
06/01/45 (c)
1,870
1,924,504
Golden
State
Tobacco
Securitization
Corp.,
Enhanced
Tobacco
Settlement,
Series
A
(RB)
(AGM)
0.00%,
06/01/26 ^
1,000
935,922
Los
Angeles
County
Metropolitan
Transportation
Authority,
Series
A
(RB)
5.00%,
07/01/25
500
516,429
Los
Angeles
Unified
School
District,
Series
A
(GO)
5.00%,
07/01/24
875
882,424
5.00%,
07/01/26
800
847,134
5.00%,
07/01/26
730
773,010
Metropolitan
Water
District
of
Southern
California,
Series
B
(RB)
5.00%,
08/01/24 (c)
1,000
1,008,416
Northern
California
Energy
Authority,
Series
A
(RB)
4.00%,
07/01/49 (p)
1,000
1,000,496
Oakland
Unified
School
District,
Series
A
(GO)
5.00%,
08/01/40 (c)
1,000
1,033,964
Orange
County
Transportation
Authority,
I-405
Improvement
Project
(RB)
4.00%,
10/15/24
675
679,965
5.00%,
10/15/24
750
760,689
Public
Facilities
Financing
Authory
of
the
City
of
San
Diego,
Subordinated
Water,
Series
B
(RB)
5.00%,
08/01/27 (c)
500
531,890
Par
(000’s)
Value
California
(continued)
Public
Utilities
Commission
of
the
City
&
County
of
San
Francisco,
Wastewater
Revenue,
Series
A
(RB)
5.00%,
10/01/26
$
1,000
$
1,066,839
San
Bernardino
Community
College
District,
Series
A
(GO)
4.00%,
08/01/49 (c)
540
569,479
San
Bernardino
County,
Capital
Facilities,
Project
B
(CP)
6.88%,
08/01/24
535
545,157
San
Joaquin
Hills,
Agency
Toll
Road
(RB)
0.00%,
01/01/25 ^
500
486,900
Southwestern
Community
College
District,
Series
D
(GO)
5.00%,
08/01/44 (c)
500
516,609
State
of
California
Department
of
Water
Resources
(RB)
5.00%,
12/01/26
500
535,924
State
of
California,
Various
Purpose
(GO)
4.00%,
03/01/24
500
500,398
5.00%,
10/01/24
555
562,735
5.00%,
10/01/27
1,000
1,086,835
5.00%,
10/01/27
500
543,417
5.00%,
10/01/27
530
576,023
5.00%,
10/01/29
1,000
1,139,318
5.00%,
11/01/26
915
973,280
5.00%,
11/01/28 (c)
1,000
1,085,182
5.00%,
11/01/28
910
1,014,294
5.00%,
12/01/27
500
544,738
5.00%,
10/01/29 (c)
1,000
1,050,637
5.00%,
04/01/27
750
805,830
5.00%,
08/01/24
325
328,362
5.00%,
08/01/25
1,000
1,033,218
5.00%,
08/01/27
1,305
1,412,946
5.00%,
09/01/26
1,000
1,059,357
5.00%,
09/01/27
1,000
1,084,770
5.00%,
09/01/28
1,000
1,110,370
43,855,486
Colorado
:
1.7%
Boulder
Larimer
&
Weld
Counties,
St.
Vrain
Valley
School
District,
Series
C
(GO)
(SAW)
5.00%,
12/15/35 (c)
500
532,818
City
Of
Colorado
Springs,
Colorado
Utilities
System,
Series
A-1
(RB)
5.00%,
11/15/26
500
531,811
Colorado
Health
Facilities
Authority,
Sanford,
Series
A
(RB)
5.00%,
11/01/25
500
515,020
Douglas
County
School
District
No.
RE-1
(GO)
(SAW)
5.00%,
12/15/24
500
508,572
3
Par
(000’s)
Value
Colorado
(continued)
Regional
Transportation
District,
Fastracks
Project,
Series
B
(RB)
5.00%,
11/01/28
$
1,000
$
1,112,236
State
of
Colorado,
Series
A
(CP)
5.00%,
12/15/26
500
532,901
University
of
Colorado,
Series
A-2
(RB)
4.00%,
06/01/34 (c)
500
530,524
4,263,882
Connecticut
:
2.5%
State
of
Connecticut,
Series
B
(GO)
(BAM)
3.00%,
06/01/29
1,000
1,002,645
State
of
Connecticut,
Series
E
(GO)
5.00%,
11/15/25
670
694,912
State
of
Connecticut,
Special
Tax,
Transportation
Infrastructure
Purpose,
Series
A
(ST)
5.00%,
05/01/28
600
657,832
State
of
Connecticut,
Transportation
Infrastructure
Purposes,
Series
A
(ST)
5.00%,
05/01/26
1,015
1,064,536
State
of
Connecticut,
Transportation
Infrastructure
Purposes,
Series
B
(RB)
5.00%,
10/01/24
535
541,854
University
of
Connecticut,
Series
A
(RB)
5.00%,
04/15/24
575
577,104
5.00%,
04/15/26
550
576,496
5.00%,
04/15/29 (c)
1,000
1,094,149
6,209,528
Delaware
:
0.6%
Delaware
State
Economic
Development
Authority,
NRG
Energy
Project,
Series
A
(RB)
1.25%,
10/01/45 (c)
(p)
500
469,196
Delaware
Transportation
Authority
(RB)
5.00%,
07/01/26
500
527,411
State
of
Delaware,
Series
A
(GO)
5.00%,
10/01/25
410
425,497
1,422,104
District
of
Columbia
:
1.0%
District
of
Columbia,
Series
D
(GO)
5.00%,
06/01/25
315
323,556
District
of
Columbia,
Series
E
(GO)
5.00%,
06/01/25
500
513,581
Metropolitan
Washington
Airports
Authority,
Airport
System,
Series
B
(RB)
5.00%,
10/01/28
500
552,522
Par
(000’s)
Value
District
of
Columbia
(continued)
Metropolitan
Washington
Airports
Authority,
Dulles
Toll
Road,
Series
C
(RB)
(AGC)
6.50%,
10/01/41 (c)
$
1,000
$
1,093,651
2,483,310
Florida
:
2.8%
Central
Florida
Expressway
Authority
(RB)
(AGM)
5.00%,
07/01/27
500
537,766
County
of
Miami-Dade
(RB)
5.00%,
10/01/29 (c)
510
535,082
County
of
Miami-Dade,
Water
and
Sewer
System
(RB)
5.00%,
10/01/28
1,000
1,096,746
Florida
State
Board
of
Education,
Public
Education
Capital
Outlay,
Series
C
(GO)
5.00%,
06/01/24
1,000
1,006,542
Florida
State
Department
of
Transportation,
Turnpike
Enterprise,
Series
A
(RB)
5.00%,
07/01/26 (c)
655
673,254
Miami-Dade
County,
Florida
Water
and
Sewer
System,
Series
B
(RB)
5.00%,
10/01/27
500
540,137
School
Board
of
Miami-Dade
County,
Series
A
(CP)
5.00%,
05/01/28 (c)
895
913,210
School
District
of
Broward
County,
Series
C
(CP)
5.00%,
07/01/24
340
342,590
South
Miami
Health
Facilities
Authority,
Baptist
Health
(RB)
5.00%,
08/15/29 (c)
710
754,586
State
of
Florida,
Board
of
Education,
Lottery
Revenue,
Series
A
(RB)
5.00%,
07/01/24
650
655,461
7,055,374
Georgia
:
3.3%
City
of
Atlanta,
Water
and
Wastewater,
Series
A
(RB)
5.00%,
11/01/24
500
507,657
Georgia
State
Road
and
Tollway
Authority
(RB)
5.00%,
06/01/29
800
897,273
Main
Street
Natural
Gas,
Inc.,
Series
A
(RB)
4.00%,
07/01/52 (c)
(p)
1,250
1,255,979
Main
Street
Natural
Gas,
Inc.,
Series
B
(RB)
4.00%,
08/01/49 (c)
(p)
500
500,850
5.00%,
12/01/52 (c)
(p)
500
525,255
Main
Street
Natural
Gas,
Inc.,
Series
C
(RB)
4.00%,
08/01/52 (c)
(p)
500
482,828
4.00%,
03/01/50 (c)
(p)
1,500
1,509,359
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
4
Par
(000’s)
Value
Georgia
(continued)
State
of
Georgia,
Series
A
(GO)
5.00%,
02/01/29 (c)
$
680
$
713,411
5.00%,
08/01/26
700
740,230
State
of
Georgia,
Series
C
(GO)
5.00%,
07/01/26
1,000
1,055,303
8,188,145
Hawaii
:
0.7%
City
&
County
of
Honolulu,
Rail
Transit
Project,
Series
E
(GO)
5.00%,
03/01/26
785
820,985
5.00%,
03/01/27
500
535,588
State
of
Hawaii,
General
Obligation,
Series
EO
(GO)
5.00%,
08/01/25 (c)
520
525,556
1,882,129
Illinois
:
4.8%
Board
of
Trustees
of
the
University
of
Illinois,
Series
A
(RB)
5.00%,
04/01/25
500
510,575
Chicago
O'Hare
International
Airport,
Series
B
(RB)
(AGM)
5.00%,
01/01/26
500
520,397
Chicago
O'Hare
International
Airport,
Series
C
(RB)
5.00%,
01/01/26
315
327,850
Chicago
Transit
Authority,
Federal
Transit
Administration
Section
5307
Urbanized
Area
Formula
(RB)
5.00%,
06/01/25
340
346,553
City
of
Chicago,
Series
A
(GO)
5.00%,
01/01/27
365
380,916
Illinois
Finance
Authority,
Clean
Water
Initiative
(RB)
5.00%,
01/01/28
500
543,439
5.00%,
07/01/27
685
736,508
Illinois
Finance
Authority,
Clean
Water
Initiative
(RB)
(AGM)
5.00%,
07/01/24
500
503,663
Illinois
Finance
Authority,
Northshore
University
Health
System,
Series
A
(RB)
(AGM)
5.00%,
08/15/26
500
525,465
Illinois
State
Toll
Highway
Authority,
Series
A
(RB)
5.00%,
01/01/27
415
441,951
Illinois
State
Toll
Highway
Authority,
Series
C
(RB)
5.00%,
01/01/27
650
692,212
Metropolitan
Water
Reclamation
District
of
Greater
Chicago,
Series
A
(GO)
5.00%,
12/01/29 (c)
780
823,390
Northern
Illinois
Municipal
Power
Agency,
Series
A
(RB)
5.00%,
12/01/29 (c)
910
959,395
Par
(000’s)
Value
Illinois
(continued)
Regional
Transportation
Authority
of
Illinois,
Series
A
(RB)
5.00%,
07/01/28 (c)
$
735
$
791,343
State
of
Illinois
(GO)
3.50%,
06/01/29 (c)
685
688,523
State
of
Illinois
(GO)
(AGC)
5.50%,
05/01/25
335
343,888
State
of
Illinois,
Series
A
(RB)
4.00%,
06/15/28
580
604,053
State
of
Illinois,
Series
D
(GO)
5.00%,
11/01/25
1,345
1,385,405
5.00%,
11/01/26
800
839,225
11,964,751
Indiana
:
0.7%
Indiana
Finance
Authority,
Series
C
(RB)
5.00%,
12/01/24
575
584,622
Indiana
Finance
Authority,
Series
E
(RB)
5.00%,
06/01/29
935
1,052,164
1,636,786
Kentucky
:
1.0%
Kentucky
Public
Energy
Authority,
Gas
Supply,
Series
B
(RB)
4.00%,
01/01/49 (c)
(p)
500
500,587
Kentucky
Public
Energy
Authority,
Gas
Supply,
Series
C-1
(RB)
4.00%,
12/01/49 (c)
(p)
1,100
1,101,861
Louisville
&
Jefferson
County,
Metro
Government,
Norton
Healtcare,
Inc.,
Series
C
(RB)
5.00%,
10/01/47 (c)
(p)
1,000
1,039,241
2,641,689
Louisiana
:
0.9%
Louisiana
Public
Facilities
Authority,
Ochsner
Clinic
Project,
Series
B
(RB)
(SAW)
5.00%,
05/15/50 (c)
(p)
500
508,700
St.
John
Baptist
Parish,
Marathon
Oil
Co.,
Series
B-2
(RB)
2.38%,
06/01/37 (p)
750
714,573
State
of
Louisiana,
Series
A
(GO)
5.00%,
02/01/29
1,000
1,116,073
2,339,346
Maine
:
0.2%
State
of
Maine,
Series
B
(GO)
(SBG)
5.00%,
06/01/25
500
513,581
Underline
Maryland
:
2.7%
County
of
Montgomery,
Consolidated
Public
Improvement,
Series
A
(GO)
4.00%,
08/01/29
750
809,993
5
Par
(000’s)
Value
Maryland
(continued)
State
of
Maryland,
Department
of
Transportation
(RB)
4.00%,
11/01/27 (c)
$
500
$
501,445
5.00%,
10/01/26
595
630,653
State
of
Maryland,
Series
B
(GO)
5.00%,
08/01/24
550
555,499
State
of
Maryland,
State
and
Local
Facilities
Loan
(GO)
4.00%,
06/01/27 (c)
560
561,121
State
of
Maryland,
State
and
Local
Facilities
Loan,
Series
A
(GO)
5.00%,
03/15/24
1,500
1,503,427
5.00%,
03/15/28 (c)
500
535,634
5.00%,
03/15/28
500
549,340
5.00%,
03/15/29
1,000
1,124,167
6,771,279
Massachusetts
:
2.5%
Commonwealth
of
Massachusetts,
Series
A
(GO)
5.00%,
01/01/27
710
758,374
5.00%,
05/01/27
500
538,244
5.00%,
07/01/27
500
540,314
Commonwealth
of
Massachusetts,
Series
C
(GO)
5.00%,
10/01/26
400
424,605
Commonwealth
of
Massachusetts,
Series
E
(GO)
3.00%,
12/01/25
750
751,177
Massachusetts
Bay
Transportation
Authority
Subordinated
Sales
Tax
Bonds
Series
A,
Subseries
A-1
&
Subseries
A-2
(RB)
5.00%,
07/01/24
515
519,263
Massachusetts
Development
Finance
Agency,
Harvard
University
Issue,
Series
A
(RB)
5.00%,
10/15/26
500
532,076
Massachusetts
Housing
Finance
Agency
Housing
Bonds,
Series
B-2
(RB)
0.90%,
06/01/26 (c)
500
459,250
Massachusetts
State
College
Building
Authority,
Series
A
(RB)
5.00%,
05/01/49 (c)
775
795,084
Massachusetts
Water
Resources
Authority,
Series
C
(RB)
5.00%,
08/01/40 (c)
1,000
1,056,726
6,375,113
Michigan
:
1.3%
City
of
Royal
Oak
Hospital
Finance
Authority,
William
Beaumont
Hospital
Obligated
Group,
Series
D
(RB)
5.00%,
09/01/39 (c)
1,000
1,001,244
Par
(000’s)
Value
Michigan
(continued)
Great
Lakes
Water
Authority
Water
Supply
System,
Series
A
(RB)
5.00%,
07/01/24
$
590
$
594,298
State
of
Michigan,
Grant
Anticipation
(RB)
5.00%,
03/15/24
650
651,477
5.00%,
03/15/26
500
523,079
State
of
Michigan,
Trunk
Line,
Series
B
(RB)
5.00%,
11/15/27
500
543,249
3,313,347
Minnesota
:
1.3%
Minneapolis-
St.
Paul
Metropolitan
Airports,
Series
A
(RB)
5.00%,
01/01/29
1,000
1,108,624
Minneapolis-St.
Paul
Metropolitan
Area,
Series
C
(GO)
5.00%,
12/01/26
1,000
1,066,183
State
of
Minnesota,
Various
Purpose,
Series
A
(GO)
5.00%,
08/01/24
1,200
1,212,294
3,387,101
Mississippi
:
0.2%
State
of
Mississippi,
Series
A
(GO)
5.00%,
10/01/29 (c)
430
464,620
Underline
Missouri
:
0.8%
Curators
of
the
University
of
Missouri,
Series
A
(RB)
5.00%,
11/01/29 (c)
1,405
1,421,242
Missouri
State
Environmental
Improvement
and
Energy
Resources
Authority,
Water
Pollution
Control
and
Drinking
Water,
Series
B
(RB)
5.00%,
01/01/26 (c)
500
514,506
1,935,748
Montana
:
0.2%
City
of
Forsyth,
Montana
Pollution
Control,
Northwestern
Corp.
Colstrip
Project
(RB)
3.88%,
07/01/28 (c)
500
507,435
Underline
Nevada
:
0.4%
Clark
County
(GO)
5.00%,
06/01/25
1,090
1,120,182
Underline
New
Jersey
:
4.5%
New
Jersey
Economic
Development
Authority,
New
Jersey
Transit
Corp.
Project,
Series
B
(RB)
4.00%,
11/01/25
660
672,060
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
6
Par
(000’s)
Value
New
Jersey
(continued)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction,
Series
DDD
(RB)
5.00%,
06/15/34 (c)
$
615
$
660,966
New
Jersey
Educational
Facilities
Authority,
Higher
Education
Facilities
Trust
(RB)
5.00%,
06/15/26 (c)
500
503,385
5.00%,
06/15/24
575
578,758
New
Jersey
Educational
Facilities
Authority,
Princeton
University,
Series
B
(RB)
5.00%,
07/01/25
1,000
1,030,464
5.00%,
07/01/28 (c)
1,000
1,081,021
New
Jersey
State,
COVID-19,
Series
A
(GO)
5.00%,
06/01/29
1,000
1,119,474
New
Jersey
Transportation
Trust
Fund
Authority,
Series
A
(RB)
5.00%,
12/15/24
1,000
1,016,394
5.00%,
12/15/26
500
529,627
5.00%,
06/15/24
1,410
1,418,745
New
Jersey
Transportation
Trust
Fund
Authority,
Series
AA
(RB)
5.00%,
06/15/25
500
513,378
State
of
New
Jersey,
Covid-19
General
Emergency,
Series
A
(GO)
5.00%,
06/01/25
600
616,139
5.00%,
06/01/27
500
537,286
State
of
New
Jersey,
Various
Purposes
(GO)
2.00%,
06/01/25
500
489,660
2.00%,
06/01/26
500
482,097
11,249,454
New
Mexico
:
0.8%
State
of
New
Mexico,
Capital
Projects
(GO)
5.00%,
03/01/24
500
500,766
State
of
New
Mexico,
Series
A
(RB)
5.00%,
07/01/27
840
905,157
State
of
New
Mexico,
Series
B
(RB)
5.00%,
07/01/26
535
563,559
1,969,482
New
York
:
14.2%
City
of
New
York,
Series
A
(GO)
5.00%,
08/01/24
1,500
1,514,403
City
of
New
York,
Series
C
(GO)
5.00%,
08/01/24
750
757,201
City
of
New
York,
Series
C
(GO)
(SD
CRED
PROG)
5.00%,
08/01/27
500
539,791
Par
(000’s)
Value
New
York
(continued)
City
of
New
York,
Series
C
and
D
(GO)
5.00%,
08/01/26
$
325
$
343,033
City
of
New
York,
Series
F-1
(GO)
5.00%,
03/01/27
410
438,554
County
of
Nassau,
Series
C
(GO)
5.00%,
10/01/25
550
569,605
Dormitory
Authority
of
the
State
of
New
York
State,
Series
A
(RB)
5.00%,
03/15/26
1,265
1,324,987
Long
Island
Power
Authority
Electric
System
(RB)
(BAM)
5.00%,
09/01/26
510
540,272
Metropolitan
Transportation
Authority,
Series
A-1
(RB)
5.00%,
11/15/48 (p)
2,000
2,011,531
Metropolitan
Transportation
Authority,
Series
A-2
(RB)
(SD
CRED
PROG)
5.00%,
11/15/34 (p)
1,160
1,162,045
Metropolitan
Transportation
Authority,
Series
B
(RB)
5.00%,
11/15/26
500
528,025
New
York
City
Housing
Development
Corp.,
Multi-
Family
Housing,
Series
F-2
(RB)
(FHA
542
(C))
0.60%,
05/01/61 (c)
(p)
300
284,855
New
York
City
Industrial
Development
Agency,
Queens
Baseball
Stadium
Project,
Series
A
(RB)
(AGM)
5.00%,
01/01/27
750
791,581
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured,
Series
A
(RB)
5.00%,
11/01/27
440
478,793
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured,
Series
F,
Subseries
F-1
(RB)
5.00%,
02/01/27
850
909,316
New
York
City
Transitional
Finance
Authority,
Building
Aid,
Series
S-1
(RB)
(SAW)
5.00%,
07/15/24
550
554,865
5.00%,
07/15/25
570
587,509
New
York
City
Transitional
Finance
Authority,
Fiscal
Series
A,
Subseries
A-1
(RB)
5.00%,
11/01/26
1,000
1,063,147
New
York
City
Water
&
Sewer
System,
Series
BB-2
(RB)
(AGM)
5.00%,
06/15/26 (c)
430
436,781
7
Par
(000’s)
Value
New
York
(continued)
New
York
State
Dormitory
Authority,
New
York
Cornell
University,
Series
A
(RB)
5.00%,
07/01/26
$
700
$
740,229
New
York
State
Dormitory
Authority,
Personal
Income
Tax,
Series
A
(RB)
5.00%,
03/15/29
1,000
1,124,167
New
York
State
Dormitory
Authority,
Personal
Income
Tax,
Series
B
(RB)
5.00%,
02/15/27
510
548,194
New
York
State
Dormitory
Authority,
Series
A
(RB)
5.00%,
02/15/27
500
537,445
New
York
State
Dormitory
Authority,
Series
C
(RB)
5.00%,
03/15/28
640
702,365
New
York
State
Dormitory
Authority,
State
Sales
Tax,
Series
B
(RB)
5.00%,
03/15/29 (c)
595
612,272
5.00%,
03/15/26 (c)
500
517,479
New
York
State
Dormitory
Authority,
State
Sales
Tax,
Series
C
(RB)
5.00%,
03/15/25
1,035
1,059,583
New
York
State
Dormitory
Authority,
State
Sales
Tax,
Series
E
(RB)
5.00%,
03/15/26
680
711,160
New
York
State
Dormitory
Authority,
State
University
Dormitory
Facilities,
Series
A
(RB)
5.00%,
07/01/25
500
514,599
New
York
State
Environmental
Facilities
Corp.,
State
Clean
Water
And
Drinking
Water
Revolving
Funds,
Series
B
(RB)
5.00%,
06/15/28
605
670,379
New
York
State
Housing
Finance
Agency,
Series
A-2
(RB)
2.50%,
11/01/60 (c)
(p)
975
931,386
New
York
State
Housing
Finance
Agency,
Series
C
(RB)
(SONYMA
HUD
SECT
8)
3.80%,
11/01/62 (c)
(p)
500
501,732
New
York
State
Housing
Finance
Agency,
Series
I
(RB)
(SAW)
1.75%,
05/01/24 (c)
215
213,833
New
York
State
Housing
Finance
Agency,
Series
L-2
(RB)
0.75%,
11/01/25 (c)
630
589,700
Par
(000’s)
Value
New
York
(continued)
New
York
State
Thruway
Authority,
Series
P
(RB)
5.00%,
01/01/27
$
1,000
$
1,063,874
New
York
State
Urban
Development
Corp.,
State
Personal
Income,
Series
A
(RB)
5.00%,
03/15/25
495
506,426
5.00%,
03/15/28 (c)
500
523,438
5.00%,
03/15/27
690
739,917
New
York
State
Urban
Development
Corp.,
State
Personal
Income,
Series
C
(RB)
5.00%,
03/15/27
500
536,522
New
York
State
Urban
Development
Corp.,
State
Personal
Income,
Series
E
(RB)
5.00%,
03/15/25
500
511,805
Town
of
Oyster
Bay,
Water
District
Notes
(GO)
5.00%,
03/08/24
1,000
1,001,591
Triborough
Bridge
&
Tunnel
Authority,
Series  A-2
(RB)
2.00%,
05/15/45 (p)
875
839,915
Triborough
Bridge
&
Tunnel
Authority,
Series
A
(RB)
5.00%,
11/15/26
1,000
1,065,566
5.00%,
11/15/27
500
545,514
5.00%,
11/15/28
1,000
1,115,614
Triborough
Bridge
&
Tunnel
Authority,
Series
B
(RB)
5.00%,
11/15/28 (c)
1,000
1,103,323
Utility
Debt
Securitization
Authority,
Series
E
(RB)
5.00%,
12/15/29 (c)
1,250
1,252,570
35,616,892
North
Carolina
:
1.7%
County
of
Guilford,
Series
B
(GO)
5.00%,
05/01/24
500
502,345
County
of
Mecklenburg,
Series
A
(GO)
4.00%,
04/01/29 (c)
500
518,729
County
of
Wake
(RB)
5.00%,
09/01/26
375
396,970
North
Carolina
Medical
Care
Commission
Hospital,
Caromont
Health,
Series
B
(RB)
5.00%,
02/01/51 (p)
500
517,183
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
(RB)
(BAM)
5.00%,
02/01/24
1,625
1,625,000
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
8
Par
(000’s)
Value
North
Carolina
(continued)
State
of
North
Carolina,
Series
B
(RB)
5.00%,
05/01/29 (c)
$
585
$
628,424
4,188,651
Ohio
:
2.3%
American
Municipal
Power,
Inc.,
Combined
Hydroelectric
Projects,
Series
A
(RB)
5.00%,
02/15/28
1,000
1,080,614
City
of
Columbus,
Various
Purpose
(GO)
5.00%,
04/01/29 (c)
750
809,469
County
of
Allen,
Ohio
Hospital
Facilities,
Mercy
Health,
Series
A
(RB)
5.00%,
08/01/26
410
429,005
Lancaster
Port
Authority,
Gas
Supply
(RB)
(SBG)
5.00%,
08/01/49 (c)
(p)
485
490,714
Lucas-Plaza
Hsg
Development
Corp.,
Bds
Plaza
Section
8,
Proj
B
(RB)
(FHA)
0.00%,
06/01/24 ^
500
494,352
Ohio
Water
Development
Authority,
Series
A
(RB)
5.00%,
06/01/29 (c)
770
862,118
Ohio
Water
Development
Authority,
Series
B
(RB)
5.00%,
12/01/27 (c)
1,000
1,061,974
State
of
Ohio,
Highway
Capital
Improvement,
Series
R
(GO)
5.00%,
05/01/27
500
502,283
5,730,529
Oklahoma
:
0.5%
Canadian
County
Educational
Facilities
Authority,
Mustang
Public
Schools
(RB)
3.00%,
09/01/29 (c)
330
325,601
Oklahoma
County
Independent
School
District,
Series
A
(GO)
3.00%,
07/01/27
1,000
1,003,870
1,329,471
Oregon
:
0.8%
Beaverton
School
District
48J,
Series
B
(GO)
(SBG)
5.00%,
06/15/25 (c)
1,000
1,006,917
City
of
Portland,
Oregon
Sewer
System,
Series
A
(RB)
5.00%,
12/01/26
500
532,386
Multnomah
County
School
District
No.
1J,
Series
B
(GO)
(SBG)
5.00%,
06/15/25
500
514,774
2,054,077
Pennsylvania
:
3.1%
Allegheny
County
Sanitary
Authority
(RB)
(BAM)
5.00%,
12/01/27 (c)
500
516,764
Par
(000’s)
Value
Pennsylvania
(continued)
City
of
Philadelphia,
Series
A
(GO)
5.00%,
08/01/25
$
300
$
307,653
Commonwealth
of
Pennsylvania
(GO)
5.00%,
01/01/26
560
583,164
5.00%,
03/15/27 (c)
500
510,572
5.00%,
06/15/29
500
503,459
Commonwealth
of
Pennsylvania
(GO)
(SBG)
5.00%,
07/15/26
1,000
1,054,365
County
of
Lehig,
Valley
Health
Network,
Series
A
(RB)
(SBG)
5.00%,
07/01/26
600
623,183
Delaware
River
Port
Authority,
Series
B
(RB)
5.00%,
01/01/25
350
356,426
Delaware
Valley,
Pennsylvania
Regional
Finance
Authority,
Series
A
(RB)
(AMBAC)
5.50%,
08/01/28
805
888,964
Montgomery
County
Industrial
Development
Authority,
Series
A
(RB)
4.10%,
04/01/53 (p)
500
511,135
Philadelphia
School
District,
Series
F
(GO)
(SAW)
5.00%,
09/01/25
660
677,580
University
of
Pittsburgh
of
the
Commonwealth,
System
of
Higher
Education
(RB)
4.00%,
04/15/26 (c)
500
512,254
Westmoreland
County
Municipal
Authority
(RB)
(BAM)
5.00%,
08/15/28 (c)
765
787,100
7,832,619
Rhode
Island
:
0.4%
Rhode
Island
Health
and
Educational
Building
Corp.,
Providence
Public
Buildings
Authority
Issue,
Series
A
(RB)
(AGM)
5.00%,
05/15/26 (c)
500
510,767
Tobacco
Settlement
Financing
Corporation
Tobacco
Settlement
Asset-Backed
Bonds,
Series
A
(RB)
5.00%,
06/01/26 (c)
500
508,860
1,019,627
South
Carolina
:
0.7%
Patriots
Energy
Group
Financing
Agency,
Series
A
(RB)
4.00%,
10/01/48 (c)
(p)
1,765
1,765,000
Underline
9
Par
(000’s)
Value
South
Dakota
:
0.2%
South
Dakota
Health
and
Educational
Facilities
Authority,
Avera
Health,
Series
A
(RB)
5.00%,
07/01/33 (c)
(p)
$
535
$
536,075
Underline
Tennessee
:
1.3%
Johnson
City
Health
&
Educational
Facilities
Board,
Series
A
(RB)
5.00%,
07/01/25
500
509,301
Metropolitan
Government
of
Nashville
&
Davidson
County
(GO)
5.00%,
07/01/26
525
553,530
Tennessee
Energy
Acquisition
Corp.,
Gas
Project
(RB)
4.00%,
11/01/49 (c)
(p)
1,775
1,777,736
Tennessee
Energy
Acquisition
Corp.,
Gas
Project,
Series
A-1
(RB)
5.00%,
05/01/53 (c)
(p)
500
519,857
3,360,424
Texas
:
8.9%
Austin
Independent
School
District
(GO)
5.00%,
08/01/28
505
557,183
Bexar
County,
Limited
Tax
(GO)
5.00%,
06/15/27 (c)
500
524,789
Board
of
Regents
of
the
University
of
Texas
System,
Series
B
(RB)
5.00%,
08/15/29
1,000
1,129,365
City
of
Dallas,
Series
A
(GO)
5.00%,
02/15/25
500
510,102
City
of
Houston,
Series
A
(GO)
5.00%,
03/01/27 (c)
750
751,056
City
of
San
Antonio,
Electric
and
Gas
Systems
(RB)
5.00%,
02/01/27 (c)
630
662,157
City
of
San
Antonio,
General
Improvement
(GO)
5.00%,
08/01/25
500
515,716
Comal
Independent
School
District
(GO)
5.00%,
02/01/26
775
808,205
Conroe
Independent
School
District,
Unlimited
Tax
School
Buildings,
Series
A
(GO)
5.00%,
02/15/27
2,000
2,137,833
County
of
Harris,
Flood
Control
District,
Series
A
(GO)
5.00%,
10/01/29 (c)
480
494,728
Dallas
Area
Rapid
Transit,
Series
A
(RB)
5.00%,
12/01/46 (c)
1,000
1,037,863
Dallas
Independent
School
District,
Series
A
(GO)
4.00%,
02/15/34 (c)
500
504,234
Par
(000’s)
Value
Texas
(continued)
Denton
Independent
School
District
(GO)
5.00%,
08/15/29
$
1,000
$
1,127,710
Denton
Independent
School
District,
Series
A
(GO)
5.00%,
08/15/45 (c)
500
515,881
Dripping
Springs
Independent
School
District
(GO)
4.00%,
02/15/39 (c)
1,000
1,000,274
Harris
County,
Texas
Toll
Road
Senior
Lien,
Series
A
(RB)
5.00%,
08/15/27
1,000
1,080,508
Houston
Independent
School
District
(GO)
5.00%,
02/15/25
1,000
1,020,615
Lower
Colorado
River
Authority,
LCRA
Transmission
Services
Corp.
Project,
Series
A
(RB)
(AGM)
5.00%,
05/15/27
500
535,459
North
Texas
Thruway
Authority,
Series
I
(RB)
(AGC)
6.20%,
01/01/42 (c)
1,000
1,027,631
North
Texas
Tollway
Authority
System,
Series
A
(RB)
5.00%,
01/01/27
500
532,616
North
Texas
Tollway
Authority,
First
Tier,
Series
A
(RB)
5.00%,
01/01/27 (c)
595
619,592
Pflugerville
Independent
School
District
(GO)
5.00%,
02/15/38 (c)
500
500,324
Pflugerville
Independent
School
District,
Series
A
(GO)
5.00%,
02/15/24
1,000
1,000,622
Texas
Municipal
Gas
Acquisition
&
Supply
Corp.
III
(RB)
5.00%,
12/15/26
600
616,183
Texas
Water
Development
Board
(RB)
5.00%,
04/15/26
1,000
1,046,644
Texas
Water
Development
Board,
Series
B
(RB)
5.00%,
10/15/24
500
507,130
University
of
Houston,
Series
A
(RB)
5.00%,
02/15/26
1,000
1,046,205
Ysleta
Independent
School
District
(GO)
5.00%,
08/15/45 (c)
650
670,646
22,481,271
Utah
:
0.6%
County
of
Utah,
IHL
Health
Services
Inc.,
Series
B-1
(RB)
5.00%,
05/15/60 (c)
(p)
1,000
1,007,627
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
10
Par
(000’s)
Value
Utah
(continued)
County
of
Utah,
IHL
Health
Services
Inc.,
Series
B-2
(RB)
5.00%,
05/15/57 (c)
(p)
$
500
$
500,393
1,508,020
Virginia
:
1.9%
County
of
Fairfax,
Public
Improvement,
Series
A
(GO)
(SAW)
4.00%,
10/01/25
990
1,009,957
Hampton
Roads
Transportation
Accountability
Commission,
Series
A
(RB)
5.00%,
07/01/26
750
786,091
Virginia
College
Building
Authority,
21st
Century
College
and
Equipment
Programs
Educational
Facilities,
Series
C
(RB)
5.00%,
02/01/27
600
641,333
Virginia
Commonwealth
Transportation
Board
(RB)
5.00%,
03/15/27 (c)
510
539,328
Virginia
Public
Building
Authority,
Public
Facilities,
Series
A
(RB)
5.00%,
08/01/29 (c)
720
778,876
Wise
County
Industrial
Development
Authority,
Virginia
Electric
and
Power
Co.
Project,
Series
A
(RB)
(AGC)
0.75%,
10/01/40 (p)
1,000
932,405
4,687,990
Washington
:
3.0%
Central
Puget
Sound
Regional
Transit
Authority,
Motor
Vehicle
Excise
Tax
Improvement,
Series
S-1
(RB)
5.00%,
11/01/26
520
552,552
Central
Puget
Sound
Regional
Transit
Authority,
Series
S-1
(RB)
5.00%,
11/01/31 (c)
500
518,390
Par
(000’s)
Value
Washington
(continued)
Energy
Northwest
Project
Electric,
Series
A
(RB)
5.00%,
07/01/25
$
1,000
$
1,030,745
Energy
Northwest
Project
Electric,
Series
C
(RB)
5.00%,
07/01/24
540
544,493
5.00%,
07/01/25
1,375
1,417,274
Energy
Northwest,
Project
3
Electric,
Series
A
(RB)
5.00%,
07/01/28 (c)
725
780,276
State
of
New
Mexico,
Series
A
(GO)
5.00%,
06/01/26
1,000
1,051,999
State
of
Washington,
Various
Purpose,
Series
R-A
(GO)
5.00%,
08/01/24
750
757,313
Washington
Health
Care
Facilities
Authority,
CommonSpirit
Health,
Series
B-1
(RB)
5.00%,
08/01/49 (c)
(p)
1,000
1,000,646
7,653,688
West
Virginia
:
0.4%
State
of
West
Virginia,
Surface
Transportation
Improvements,
Series
A
(RB)
5.00%,
09/01/26
1,000
1,052,954
Underline
Wisconsin
:
1.3%
City
of
Milwaukee,
Series
N4
(GO)
5.00%,
04/01/26
750
774,230
State
of
Wisconsin,
Series
A
(GO)
5.00%,
05/01/28 (c)
500
511,947
5.00%,
05/01/25
500
512,958
State
of
Wisconsin,
Series
D
(GO)
4.00%,
05/01/29 (c)
1,500
1,504,502
3,303,637
Total
Municipal
Bonds:
98.7%
(Cost:
$253,200,093)
248,399,736
Other
assets
less
liabilities:
1.3%
3,190,538
NET
ASSETS:
100.0%
$
251,590,274
11
FootnoteRuleAboveBlank
Footnotes:
Definitions:
AGC
Assured
Guaranty
Corp.
AGM
Assured
Guaranty
Municipal
Corp.
AMBAC
American
Municipal
Bond
Assurance
Corp.
BAM
Build
America
Assurance
Co.
CP
Certificate
of
Participation
FHA
Federal
Housing
Association
GO
General
Obligation
RB
Revenue
Bond
SAW
State
Aid
Withholding
SBG
School
Board
Guaranteed
SD
CRED
PROG
Special
District
Credit
Enhancement
Program
ST
Special
Tax
(c)
Callable
Security
—
the
redemption
date
shown
is
when
the
security
may
be
redeemed
by
the
issuer
(p)
Putable
Security
—
the
redemption
date
shown
is
when
the
security
may
be
redeemed
by
the
investor
^
Zero
Coupon
Bond
Summary
of
Investments
by
Sector
%
of
Investments
Value
State
GO
19.0
%
$
47,217,016
Local
GO
13.0
32,267,857
Refunded
12.0
29,753,562
Tax
8.8
21,996,435
Utilities
-
Other
7.4
18,458,382
Water
&
Sewer
5.6
13,935,346
Education
5.4
13,395,955
Transportation
5.2
12,815,065
Power
5.1
12,682,804
Hospitals
4.7
11,681,509
Toll
&
Turnpike
4.2
10,373,457
Leasing
COPS
&
Appropriations
4.1
10,195,065
Multi-Family
Housing
1.2
2,980,756
Miscellaneous
1.1
2,630,085
Airport
1.0
2,509,393
Pollution
Control
0.7
1,809,582
Tobacco
0.6
1,444,782
Unassigned
0.4
1,001,591
Industrial
Development
Revenue
0.3
714,572
Special
Tax
0.2
536,522
100.0
%
$
248,399,736