| Investment Objective: |
VanEck High Yield Muni ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Broad High Yield Crossover Municipal Index (the "High Yield Index"). The Fund normally invests at least 80% of its total assets in securities that comprise the benchmark index. The High Yield Index is comprised of publicly traded municipal bonds that cover the U.S. dollar denominated high yield long-term tax-exempt bond market with a weight of 70% in non-investment grade municipal bonds, 25% in triple-B rated investment grade municipal bonds and 5% in single-A rated investment grade municipal bonds. The Fund, using a "passive" or indexing investment approach, attempts to approximate the investment performance of the High Yield Index. Unlike many investment companies that try to "beat" the performance of a benchmark index, the Fund does not try to "beat" the High Yield Index and does not take temporary defensive positions that are inconsistent with its investment objective of seeking to replicate the High Yield Index. |
