VANECK

CHINA

BOND

ETF

SCHEDULE

OF

INVESTMENTS

January

31,

2024

(unaudited)

1

FootnoteRuleAboveBlank

Footnotes:

Par

(000's)

Value

CORPORATE

BONDS:

69.3%

Basic

Materials

:

4.9%

China

Chengtong

Holdings

Group

Ltd.

3.53%,

10/28/26

CNY

10,000

$

1,403,857

Underline

Energy

:

3.0%

China

National

Petroleum

Corp.

4.16%,

08/16/25

CNY

6,000

857,198

Underline

Financials

:

41.7%

Agricultural

Development

Bank

of

China

2.25%,

04/22/25

CNY

1,130

157,569

2.96%,

04/17/30

CNY

1,160

165,465

3.63%,

07/19/26

CNY

2,700

387,783

3.74%,

07/12/29

CNY

2,740

406,080

3.75%,

01/25/29

CNY

2,620

386,923

3.79%,

10/26/30

CNY

1,110

166,235

3.85%,

01/06/27

CNY

3,410

495,690

4.39%,

09/08/27

CNY

3,270

487,131

4.65%,

05/11/28

CNY

1,360

206,572

4.98%,

01/12/25

CNY

2,640

377,756

Central

Huijin

Investment

Ltd.

2.87%,

04/20/26

CNY

6,000

842,256

China

Development

Bank

2.77%,

10/24/32

CNY

3,810

536,606

3.18%,

04/05/26

CNY

4,850

688,519

3.34%,

07/14/25

CNY

3,830

542,143

3.41%,

06/07/31

CNY

1,640

240,759

3.45%,

09/20/29

CNY

4,800

702,637

3.48%,

01/08/29

CNY

4,460

651,356

3.65%,

05/21/29

CNY

1,950

287,734

3.66%,

03/01/31

CNY

1,170

174,292

3.70%,

10/20/30

CNY

4,150

618,497

4.04%,

04/10/27

CNY

1,760

257,899

4.04%,

07/06/28

CNY

2,720

404,815

China

Reform

Holdings

Corp.

Ltd.

2.65%,

09/06/27

CNY

10,000

1,390,659

Export-Import

Bank

of

China

2.90%,

08/19/32

CNY

1,390

197,619

3.23%,

03/23/30

CNY

2,900

419,804

3.38%,

07/16/31

CNY

1,750

256,372

3.74%,

11/16/30

CNY

2,380

355,277

3.88%,

01/12/36

CNY

1,170

182,939

11,987,387

Par

(000’s)

Value

Industrials

:

9.9%

China

State

Railway

Group

Co.

Ltd.

3.53%,

01/29/26

CNY

10,000

$

1,423,622

Shandong

Hi-Speed

Group

Co.

Ltd.

3.41%,

03/16/26

CNY

10,000

1,414,042

2,837,664

Real

Estate

:

0.0%

China

Fortune

Land

Development

Co.

Ltd.

5.50%,

10/22/22 (d)

*

CNY

1,000

1

7.00%,

03/03/21 (d)

*

CNY

1,000

2

3

Utilities

:

9.8%

State

Grid

Corp.

of

China

2.88%,

08/30/27

CNY

10,000

1,407,032

State

Power

Investment

Corp.

Ltd.

2.82%,

07/04/26

CNY

10,000

1,401,341

2,808,373

Total

Corporate

Bonds

(Cost:

$20,887,585)

19,894,482

GOVERNMENT

OBLIGATIONS:

24.5%

China

Government

Bond

2.52%,

08/25/33

CNY

2,120

296,801

2.68%,

05/21/30

CNY

3,450

488,247

2.69%,

08/12/26

CNY

2,050

289,370

2.77%,

06/24/30

CNY

3,710

527,668

2.85%,

06/04/27

CNY

5,420

771,007

2.86%,

07/16/30

CNY

3,350

479,460

3.01%,

05/13/28

CNY

5,630

808,670

3.02%,

10/22/25

CNY

2,150

304,538

3.02%,

05/27/31

CNY

2,710

392,667

3.03%,

03/11/26

CNY

5,400

767,318

3.25%,

06/06/26

CNY

2,220

317,964

3.27%,

11/19/30

CNY

2,980

439,275

3.28%,

12/03/27

CNY

1,050

152,409

3.29%,

05/23/29

CNY

2,680

393,033

3.74%,

09/22/35

CNY

3,900

616,203

Underline

Total

Government

Obligations

(Cost:

$7,765,133)

7,044,630

Total

Investments:

93.8%

(Cost:

$28,652,718)

26,939,112

Other

assets

less

liabilities:

6.2%

1,789,625

NET

ASSETS:

100.0%

$

28,728,737

Definitions:

CNY

Chinese

Yuan

*

Non-income

producing

(d)

Security

in

default

VANECK

CHINA

BOND

ETF

SCHEDULE

OF

INVESTMENTS

(unaudited)

(continued)

2

Summary

of

Investments

by

Sector

%

of

Investments

Value

Financials

44.5

%

$

11,987,387

Government

26.2

7,044,630

Industrials

10.5

2,837,664

Utilities

10.4

2,808,373

Basic

Materials

5.2

1,403,857

Energy

3.2

857,198

Real

Estate

0.0

3

100.0

%

$

26,939,112