VANECK AFRICA INDEX ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 99.8% | ||||||||
| Burkina Faso: 0.5% | ||||||||
| IAMGOLD Corp. (USD) * | 138,954 | $ | 314,036 | |||||
| Canada: 5.3% | ||||||||
| B2Gold Corp. (USD) | 34,378 | 117,573 | ||||||
| Barrick Gold Corp. (USD) | 76,227 | 1,375,897 | ||||||
| Ivanhoe Mines Ltd. * | 295,195 | 1,887,421 | ||||||
| 3,380,891 | ||||||||
| China: 1.5% | ||||||||
| China Molybdenum Co. Ltd. (HKD) # | 1,518,000 | 937,175 | ||||||
| Egypt: 4.7% | ||||||||
| Centamin Plc (GBP) # | 423,416 | 542,435 | ||||||
| Commercial International Bank Egypt SAE (USD) (GDR) * | 933,540 | 2,492,552 | ||||||
| 3,034,987 | ||||||||
| Germany: 3.2% | ||||||||
| Jumia Technologies AG (ADR) * | 110,495 | 2,054,102 | ||||||
| India: 1.0% | ||||||||
| MakeMyTrip Ltd. (USD) * † | 24,729 | 672,382 | ||||||
| Indonesia: 0.7% | ||||||||
| Golden Agri-Resources Ltd. (SGD) # | 2,457,500 | 423,488 | ||||||
| Kenya: 9.1% | ||||||||
| Equity Group Holdings Plc * | 3,613,900 | 1,659,778 | ||||||
| Safaricom Plc | 10,900,300 | 4,152,965 | ||||||
| 5,812,743 | ||||||||
| Morocco: 12.7% | ||||||||
| Attijariwafa Bank | 76,744 | 4,190,053 | ||||||
| Bank of Africa | 58,480 | 1,135,246 | ||||||
| Banque Centrale Populaire | 49,308 | 1,501,054 | ||||||
| Co. Sucrerie Marocaine et de Raffinage # | 41,272 | 1,249,847 | ||||||
| 8,076,200 | ||||||||
| Nigeria: 8.0% | ||||||||
| Guaranty Trust Holding Co. Plc | 42,287,379 | 2,866,854 | ||||||
| Zenith Bank Plc # | 40,148,957 | 2,262,790 | ||||||
| 5,129,644 | ||||||||
| Norway: 0.3% | ||||||||
| Scatec ASA 144A # | 9,705 | 180,655 | ||||||
| South Africa: 36.7% | ||||||||
| Absa Group Ltd. # | 62,824 | 636,309 | ||||||
| Anglo American Platinum Ltd. | 5,579 | 483,703 | ||||||
| Anglo American Plc (GBP) # | 70,578 | 2,475,408 | ||||||
| Aspen Pharmacare Holdings Ltd. # † | 26,055 | 467,982 | ||||||
| AVI Ltd. # | 25,274 | 143,656 | ||||||
| Bid Corp. Ltd. # * | 18,138 | 390,046 | ||||||
| Bidvest Group Ltd. # † | 23,854 | 309,551 | ||||||
| Capitec Bank Holdings Ltd. | 8,337 | 1,008,032 | ||||||
| Clicks Group Ltd. | 15,038 | 277,571 | ||||||
| Coronation Fund Managers Ltd. # | 22,770 | 76,097 | ||||||
| Discovery Ltd. # * | 36,670 | 335,369 | ||||||
| Exxaro Resources Ltd. † | 13,066 | 139,848 | ||||||
| FirstRand Ltd. # | 269,644 | 1,151,993 | ||||||
| Foschini Group Ltd. * | 14,255 | 129,380 | ||||||
| Gold Fields Ltd. (ADR) | 61,341 | 498,089 | ||||||
| Growthpoint Properties Ltd. | 240,501 | 228,592 | ||||||
| Harmony Gold Mining Co. Ltd. (ADR) | 40,101 | 126,318 | ||||||
| Impala Platinum Holdings Ltd. # | 49,107 | 553,934 | ||||||
| Investec Plc (GBP) # | 50,190 | 214,331 | ||||||
| Kumba Iron Ore Ltd. # | 5,483 | 180,308 | ||||||
| Life Healthcare Group Holdings Ltd. * | 86,698 | 131,329 | ||||||
| Momentum Metropolitan Holdings # † | 58,486 | 81,519 | ||||||
| Mr Price Group Ltd. # | 20,249 | 271,903 | ||||||
| MTN Group Ltd. # * | 128,315 | 1,206,319 | ||||||
| MTN Nigeria Communications Plc (NGN) # | 7,018,997 | 2,965,358 | ||||||
| MultiChoice Group Ltd. # | 32,793 | 250,216 | ||||||
| Naspers Ltd. # | 16,137 | 2,669,556 | ||||||
| Nedbank Group Ltd. # | 32,615 | 378,388 | ||||||
| Netcare Ltd. * | 102,323 | 110,178 | ||||||
| Northam Platinum Holdings Ltd. * | 15,482 | 184,529 | ||||||
| Old Mutual Ltd. # | 282,921 | 309,830 | ||||||
| Pepkor Holdings Ltd. 144A # * | 93,392 | 133,900 | ||||||
| Pick n Pay Stores Ltd. # | 26,685 | 100,665 | ||||||
| Rand Merchant Investment Holdings Ltd. # † | 61,361 | 151,884 | ||||||
| Remgro Ltd. | 44,518 | 401,979 | ||||||
| Resilient REIT Ltd. | 26,847 | 101,339 | ||||||
| Sanlam Ltd. | 153,883 | 653,785 | ||||||
| Sasol Ltd. (ADR) * † | 44,029 | 829,506 | ||||||
| Shoprite Holdings Ltd. # † | 37,330 | 442,466 | ||||||
| Sibanye Stillwater Ltd. (ADR) † | 52,811 | 651,688 | ||||||
| SPAR Group Ltd. | 10,994 | 143,532 | ||||||
| Standard Bank Group Ltd. # | 110,315 | 1,045,575 | ||||||
| Tiger Brands Ltd. # | 10,835 | 134,268 | ||||||
| Woolworths Holdings Ltd. # † | 56,781 | 221,466 | ||||||
| 23,397,695 | ||||||||
| Switzerland: 2.4% | ||||||||
| Mediclinic International Plc (GBP) # * | 33,224 | 139,347 | ||||||
| Nestle Nigeria Plc (NGN) # | 387,228 | 1,385,368 | ||||||
| 1,524,715 | ||||||||
| Tanzania: 2.9% | ||||||||
| AngloGold Ashanti Ltd. (ADR) | 35,528 | 568,093 | ||||||
| Helios Towers Plc (GBP) * † | 518,667 | 1,265,814 | ||||||
| 1,833,907 | ||||||||
| United Arab Emirates: 4.2% | ||||||||
| Itissalat Al-Maghrib (MAD) # | 169,669 | 2,654,259 | ||||||
| United Kingdom: 3.5% | ||||||||
| East African Breweries Ltd. (KES) # * | 490,500 | 758,821 | ||||||
| Endeavour Mining Plc (CAD) | 50,827 | 1,143,843 | ||||||
| Vodacom Group Ltd. (ZAR) | 36,770 | 352,034 | ||||||
| 2,254,698 | ||||||||
| United States: 0.5% | ||||||||
| Royal Caribbean Cruises Ltd. * | 3,523 | 313,371 | ||||||
| Zambia: 2.6% | ||||||||
| First Quantum Minerals Ltd. (CAD) | 88,171 | 1,632,087 | ||||||
| Zimbabwe: 0.0% | ||||||||
| Cassava Smartech Zimbabwe Ltd. # * | 32,900 | 12,384 | ||||||
| Delta Corp. Ltd. # | 15,980 | 20,243 | ||||||
| 32,627 | ||||||||
| Total Common Stocks (Cost: $53,789,891) | 63,659,662 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.2% (Cost: $792,118) | ||||||||
| Money Market Fund: 1.2% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 792,118 | 792,118 | ||||||
| Total Investments: 101.0% (Cost: $54,582,009) | 64,451,780 | |||||||
| Liabilities in excess of other assets: (1.0)% | (668,853 | ) | ||||||
| NET ASSETS: 100.0% | $ | 63,782,927 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| CAD | Canadian Dollar |
| GBP | British Pound |
| GDR | Global Depositary Receipt |
| HKD | Hong Kong Dollar |
| KES | Kenyan Shilling |
| MAD | Moroccan Dirham |
| NGN | Nigerian Naira |
| SGD | Singapore Dollar |
| USD | United States Dollar |
| ZAR | South African Rand |
| Footnotes: | |
| * | Non-income producing |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $27,865,109 which represents 43.7% of net assets. |
| † | Security fully or partially on loan. Total market value of securities on loan is $3,887,292. |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $314,555, or 0.5% of net assets. |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Communication Services | 20.2 | % | $ | 12,846,965 | ||||
| Consumer Discretionary | 10.2 | 6,466,059 | ||||||
| Consumer Staples | 8.6 | 5,469,970 | ||||||
| Energy | 0.2 | 139,848 | ||||||
| Financials | 35.4 | 22,565,803 | ||||||
| Health Care | 1.3 | 848,837 | ||||||
| Industrials | 0.5 | 309,551 | ||||||
| Materials | 22.8 | 14,502,043 | ||||||
| Real Estate | 0.5 | 329,931 | ||||||
| Utilities | 0.3 | 180,655 | ||||||
| 100.0 | % | $ | 63,659,662 | |||||
VANECK BRAZIL SMALL-CAP ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 89.5% | ||||||||
| Automobiles & Components: 1.2% | ||||||||
| Mahle-Metal Leve SA | 33,100 | $ | 229,328 | |||||
| Tupy SA * | 58,200 | 215,562 | ||||||
| 444,890 | ||||||||
| Capital Goods: 3.1% | ||||||||
| Aeris Industria E Comercio De Equipamentos Para Geracao De Energia SA * | 315,800 | 463,341 | ||||||
| Armac Locacao Logistica E Servicos SA * | 80,200 | 284,822 | ||||||
| Iochpe Maxion SA * | 92,402 | 299,311 | ||||||
| Portobello SA | 78,300 | 156,003 | ||||||
| 1,203,477 | ||||||||
| Commercial & Professional Services: 1.8% | ||||||||
| Ambipar Participacoes e Empreendimentos SA | 37,850 | 325,486 | ||||||
| Boa Vista Servicos SA | 149,750 | 349,231 | ||||||
| 674,717 | ||||||||
| Communication Services: 0.4% | ||||||||
| Brisanet Participacoes SA * | 84,800 | 168,798 | ||||||
| Consumer Durables & Apparel: 13.2% | ||||||||
| Arezzo Industria e Comercio SA | 46,200 | 703,043 | ||||||
| Construtora Tenda SA | 45,650 | 147,619 | ||||||
| Cury Construtora e Incorporadora SA | 80,200 | 106,182 | ||||||
| Cyrela Brazil Realty SA Empreendimentos e Participacoes | 236,800 | 782,702 | ||||||
| Direcional Engenharia SA | 69,550 | 145,850 | ||||||
| Even Construtora e Incorporadora SA | 94,650 | 133,656 | ||||||
| Ez Tec Empreendimentos e Participacoes SA | 130,552 | 547,548 | ||||||
| Grendene SA | 178,150 | 302,928 | ||||||
| Grupo de Moda Soma SA * | 345,884 | 1,076,570 | ||||||
| Guararapes Confeccoes SA * | 72,900 | 181,120 | ||||||
| MRV Engenharia e Participacoes SA | 215,650 | 486,680 | ||||||
| Vivara Participacoes SA | 83,150 | 450,735 | ||||||
| 5,064,633 | ||||||||
| Consumer Services: 9.0% | ||||||||
| Afya Ltd. (USD) * † | 22,741 | 448,907 | ||||||
| Anima Holding SA * | 218,450 | 358,618 | ||||||
| Arco Platform Ltd. (USD) * † | 11,923 | 258,729 | ||||||
| Arcos Dorados Holdings, Inc. (USD) * † | 77,586 | 397,240 | ||||||
| BK Brasil Operacao e Assessoria a Restaurantes SA * | 118,200 | 178,198 | ||||||
| Cogna Educacao * | 1,450,150 | 721,647 | ||||||
| CVC Brasil Operadora e Agencia de Viagens SA * | 175,783 | 694,643 | ||||||
| MPM Corporeos SA | 109,000 | 300,034 | ||||||
| Ser Educacional SA 144A | 42,025 | 89,517 | ||||||
| 3,447,533 | ||||||||
| Diversified Financials: 1.9% | ||||||||
| Banco Modal SA * | 86,700 | 272,721 | ||||||
| TC Traders Club SA * | 88,900 | 104,478 | ||||||
| Vinci Partners Investments Ltd. (USD) † | 27,335 | 356,175 | ||||||
| 733,374 | ||||||||
| Energy: 3.9% | ||||||||
| 3R Petroleum Oleo e Gas SA * | 70,500 | 551,494 | ||||||
| AES Brasil Energia SA | 126,800 | 285,930 | ||||||
| Enauta Participacoes SA | 68,450 | 173,458 | ||||||
| Modec, Inc. # | 17,200 | 272,846 | ||||||
| Petroreconcavo SA * | 59,700 | 220,350 | ||||||
| 1,504,078 | ||||||||
| Financials: 0.4% | ||||||||
| BR Advisory Partners Participacoes SA * | 38,100 | 137,477 | ||||||
| Food & Staples Retailing: 2.8% | ||||||||
| Cia Brasileira de Distribuicao (ADR) † | 138,741 | 653,470 | ||||||
| Dimed SA Distribuidora da Medicamentos | 96,800 | 262,897 | ||||||
| Empreendimentos Pague Menos SA * | 76,200 | 173,928 | ||||||
| 1,090,295 | ||||||||
| Food, Beverage & Tobacco: 7.9% | ||||||||
| Adecoagro SA (USD) * † | 45,522 | 411,064 | ||||||
| BrasilAgro - Co. Brasileira de Propriedades Agricolas * | 43,100 | 240,994 | ||||||
| Camil Alimentos SA | 60,400 | 109,470 | ||||||
| Jalles Machado SA | 118,900 | 205,235 | ||||||
| Minerva SA | 231,300 | 443,848 | ||||||
| Sao Martinho SA | 139,850 | 898,307 | ||||||
| SLC Agricola SA | 63,000 | 527,531 | ||||||
| Tres Tentos Agroindustrial SA * | 106,100 | 185,089 | ||||||
| 3,021,538 | ||||||||
| Health Care Equipment & Services: 6.0% | ||||||||
| Fleury SA | 210,200 | 853,808 | ||||||
| Hospital Mater Dei SA * | 54,900 | 185,495 | ||||||
| Instituto Hermes Pardini SA * | 39,350 | 163,304 | ||||||
| Odontoprev SA | 205,250 | 620,376 | ||||||
| Qualicorp Consultoria e Corretora de Seguros SA | 134,150 | 492,431 | ||||||
| 2,315,414 | ||||||||
| Insurance: 2.2% | ||||||||
| IRB Brasil Resseguros SA * | 794,750 | 690,294 | ||||||
| Wiz Solucoes e Corretagem de Seguros SA | 67,300 | 142,243 | ||||||
| 832,537 | ||||||||
| Materials: 3.4% | ||||||||
| Cia Brasileira de Aluminio * | 122,800 | 315,245 | ||||||
| ERO Copper Corp. * † | 38,580 | 684,120 | ||||||
| Largo Resources Ltd. (USD) * † | 27,213 | 286,009 | ||||||
| 1,285,374 | ||||||||
| Media & Entertainment: 1.9% | ||||||||
| Infracommerce CXAAS SA * | 98,100 | 306,239 | ||||||
| Meliuz SA 144A | 379,500 | 418,821 | ||||||
| 725,060 | ||||||||
| Real Estate: 7.7% | ||||||||
| Aliansce Sonae Shopping Centers sa | 132,338 | 552,122 | ||||||
| BR Malls Participacoes SA * | 592,250 | 878,737 | ||||||
| BR Properties SA | 170,950 | 249,248 | ||||||
| FII BTG Pactual Corporate Office Fund | 20,128 | 272,735 | ||||||
| Iguatemi Empresa de Shopping Centers SA | 74,300 | 430,321 | ||||||
| Jereissati Participacoes SA | 34,000 | 166,636 | ||||||
| JHSF Participacoes SA | 223,900 | 243,399 | ||||||
| LOG Commercial Properties e Participacoes SA | 33,300 | 158,497 | ||||||
| 2,951,695 | ||||||||
| Retailing: 2.0% | ||||||||
| C&A Modas Ltda * | 79,400 | 105,123 | ||||||
| Grupo SBF SA * | 83,450 | 428,302 | ||||||
| Lojas Quero Quero SA | 75,600 | 225,589 | ||||||
| 759,014 | ||||||||
| Semiconductors & Semiconductor Equipment: 1.5% | ||||||||
| SMART Global Holdings, Inc. * | 13,319 | 592,696 | ||||||
| Software & Services: 1.0% | ||||||||
| Clear Sale SA * | 53,200 | 227,229 | ||||||
| SONDA SA # | 366,484 | 158,156 | ||||||
| 385,385 | ||||||||
| Technology Hardware & Equipment: 0.6% | ||||||||
| Ituran Location and Control Ltd. (USD) | 9,071 | 230,313 | ||||||
| Telecommunication Services: 2.2% | ||||||||
| Oi SA (ADR) * † | 806,290 | 728,000 | ||||||
| Unifique Telecomunicacoes SA * | 108,800 | 125,667 | ||||||
| 853,667 | ||||||||
| Transportation: 6.8% | ||||||||
| EcoRodovias Infraestrutura e Logistica SA * | 185,340 | 305,624 | ||||||
| Gol Linhas Aereas Inteligentes SA (ADR) * † | 71,529 | 545,766 | ||||||
| Hidrovias do Brasil SA * | 359,100 | 250,577 | ||||||
| Movida Participacoes SA * | 140,000 | 440,380 | ||||||
| Santos Brasil Participacoes SA * | 577,650 | 841,163 | ||||||
| Sequoia Logistica e Transportes SA * | 74,100 | 210,772 | ||||||
| 2,594,282 | ||||||||
| Utilities: 8.6% | ||||||||
| Alupar Investimento SA | 211,337 | 943,415 | ||||||
| Cia de Saneamento de Minas Gerais | 163,238 | 413,659 | ||||||
| Cia de Saneamento do Parana * | 259,500 | 913,009 | ||||||
| Light SA | 204,700 | 493,543 | ||||||
| Omega Geracao SA * | 87,800 | 517,215 | ||||||
| 3,280,841 | ||||||||
| Total Common Stocks (Cost: $36,443,485) | 34,297,088 | |||||||
| PREFERRED SECURITIES: 9.3% | ||||||||
| Banks: 3.4% | ||||||||
| Banco ABC Brasil SA 6.30% * | 67,670 | 185,026 | ||||||
| Banco do Estado do Rio Grande do Sul SA 6.55% | 151,250 | 323,844 | ||||||
| Banco Pan SA 1.03% | 268,000 | 785,435 | ||||||
| 1,294,305 | ||||||||
| Capital Goods: 1.4% | ||||||||
| Marcopolo SA 3.37% * | 369,009 | 197,184 | ||||||
| Randon SA Implementos e Participacoes 5.56% | 153,550 | 332,153 | ||||||
| 529,337 | ||||||||
| Information Technology: 1.3% | ||||||||
| Cia Ferro Ligas da Bahia 2.85% | 29,800 | 306,660 | ||||||
| Taurus Armas SA 0.00% * | 51,000 | 199,383 | ||||||
| 506,043 | ||||||||
| Materials: 1.7% | ||||||||
| Unipar Carbocloro SA 5.06% | 44,877 | 651,677 | ||||||
| Utilities: 1.5% | ||||||||
| Cia Energetica de Sao Paulo 11.06% | 130,400 | 565,348 | ||||||
| Total Preferred Securities (Cost: $2,947,013) | 3,546,710 | |||||||
| CLOSED-END FUND: 1.2% (Cost: $493,613) | ||||||||
| CSHG Logistica FI Imobiliario | 15,831 | 479,661 | ||||||
| Total Investments Before Collateral for Securities Loaned: 100.0% (Cost: $39,884,111) | 38,323,459 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 3.3% (Cost: $1,261,504) | ||||||||
| Money Market Fund: 3.3% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 1,261,504 | 1,261,504 | ||||||
| Total Investments: 103.3% (Cost: $41,145,615) | 39,584,963 | |||||||
| Liabilities in excess of other assets: (3.3)% | (1,253,078 | ) | ||||||
| NET ASSETS: 100.0% | $ | 38,331,885 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| USD | United States Dollar |
| Footnotes: | |
| * | Non-income producing |
| † | Security fully or partially on loan. Total market value of securities on loan is $3,576,726. |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $431,002 which represents 1.1% of net assets. |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $508,338, or 1.3% of net assets. |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Communication Services | 4.5 | % | $ | 1,747,525 | ||||
| Consumer Discretionary | 26.7 | 10,195,731 | ||||||
| Consumer Staples | 10.7 | 4,111,833 | ||||||
| Energy | 3.9 | 1,504,078 | ||||||
| Financials | 7.9 | 2,997,693 | ||||||
| Health Care | 6.0 | 2,315,414 | ||||||
| Industrials | 13.1 | 5,001,813 | ||||||
| Information Technology | 4.4 | 1,714,437 | ||||||
| Materials | 4.3 | 1,651,042 | ||||||
| Real Estate | 7.7 | 2,951,695 | ||||||
| Utilities | 10.8 | 4,132,198 | ||||||
| 100.0 | % | $ | 38,323,459 | |||||
VANECK CHINA GROWTH LEADERS ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 99.9% | ||||||||
| Automobiles & Components: 0.7% | ||||||||
| Changzhou Xingyu Automotive Lighting Systems Co. Ltd. # | 4,078 | $ | 114,177 | |||||
| Shandong Linglong Tyre Co. Ltd. # | 17,000 | 92,398 | ||||||
| 206,575 | ||||||||
| Capital Goods: 8.1% | ||||||||
| Beijing Bei Mo Gao Ke Friction Material Co. Ltd. # | 6,100 | 99,857 | ||||||
| Beijing New Building Materials Plc # | 25,800 | 126,757 | ||||||
| Dajin Heavy Industry Co. Ltd. # | 6,400 | 23,736 | ||||||
| Fujian Longma Environmental Sanitation Equipment Co. Ltd. # | 7,200 | 15,360 | ||||||
| Guangdong Lingxiao Pump Industry Co. Ltd. # | 5,900 | 19,713 | ||||||
| Guangzhou KDT Machinery Co. Ltd. # | 6,600 | 34,177 | ||||||
| Hangzhou Zhongtai Cryogenic Technology Corp. # | 4,400 | 12,680 | ||||||
| Jiangsu Hengli Hydraulic Co. Ltd. # | 13,016 | 170,144 | ||||||
| Jiangsu Nanfang Bearing Co. Ltd. # | 7,600 | 12,094 | ||||||
| Jingjin Environmental Protection Co. Ltd. # | 5,900 | 29,916 | ||||||
| Jinlei Technology Co. Ltd. # | 6,800 | 61,321 | ||||||
| Nantong Jianghai Capacitor Co. Ltd. # | 13,800 | 37,983 | ||||||
| Nanxing Machinery Co. Ltd. # | 3,400 | 7,205 | ||||||
| NARI Technology Co. Ltd. # | 70,120 | 387,763 | ||||||
| Ningbo Orient Wires & Cables Co. Ltd. # | 10,400 | 47,722 | ||||||
| Ocean’s King Lighting Science & Technology Co. Ltd. # | 11,600 | 29,097 | ||||||
| Sany Heavy Industry Co. Ltd. # | 173,600 | 681,215 | ||||||
| Sichuan Kexin Mechanical and Electrical Equipment Co. Ltd. # | 7,900 | 12,920 | ||||||
| Zhefu Holding Group Co. Ltd. # | 33,600 | 39,404 | ||||||
| Zhejiang Dingli Machinery Co. Ltd. # | 6,302 | 68,866 | ||||||
| Zhuzhou Kibing Group Co. Ltd. # | 53,500 | 141,880 | ||||||
| Zoomlion Heavy Industry Science and Technology Co. Ltd. # | 174,800 | 222,864 | ||||||
| 2,282,674 | ||||||||
| Commercial & Professional Services: 0.7% | ||||||||
| Languangjustbon H SH (HKD) # | 3,300 | 22,955 | ||||||
| Shanghai M&G Stationery, Inc. # | 11,000 | 115,748 | ||||||
| UE Furniture Co. Ltd. # | 2,700 | 4,543 | ||||||
| Zhejiang Weiming Environment Protection Co. Ltd. # | 10,756 | 45,884 | ||||||
| 189,130 | ||||||||
| Consumer Durables & Apparel: 3.5% | ||||||||
| Baoxiniao Holding Co. Ltd. | 29,500 | 23,448 | ||||||
| Biem.L.Fdlkk Garment Co. Ltd. # | 11,300 | 44,474 | ||||||
| Chow Tai Seng Jewellery Co. Ltd. # | 9,300 | 28,550 | ||||||
| Hangzhou Nbond Nonwovens Co. Ltd. # | 1,400 | 2,666 | ||||||
| Hisense Home Appliances Group Co. Ltd. # | 17,500 | 32,492 | ||||||
| Leshan Giantstar Farming & Husbandry Corp. Ltd. # | 4,400 | 8,316 | ||||||
| Li Ning Co. Ltd. (HKD) # | 68,500 | 789,513 | ||||||
| Markor International Home Furnishings Co. Ltd. # * | 20,500 | 9,944 | ||||||
| Ningbo Peacebird Fashion Co. Ltd. | 2,200 | 13,219 | ||||||
| Q Technology Group Co. Ltd. (HKD) # † | 14,000 | 20,100 | ||||||
| Shanghai Yaoji Technology Co. Ltd. | 5,600 | 14,942 | ||||||
| 987,664 | ||||||||
| Consumer Services: 0.1% | ||||||||
| Fu Shou Yuan International Group Ltd. (HKD) # | 36,000 | 29,945 | ||||||
| Diversified Financials: 1.6% | ||||||||
| 360 DigiTech, Inc. (ADR) * | 3,652 | 74,209 | ||||||
| China Renaissance Holdings Ltd. (HKD) 144A # * | 5,400 | 13,282 | ||||||
| CSC Financial Co. Ltd. (HKD) 144A # | 164,500 | 183,834 | ||||||
| Hithink RoyalFlush Information Network Co. Ltd. # | 9,724 | 179,640 | ||||||
| 450,965 | ||||||||
| Energy: 0.7% | ||||||||
| Shaanxi Coal Industry Co. Ltd. # | 84,400 | 192,593 | ||||||
| Shandong Sunway Chemical Group Co. Ltd. # | 14,500 | 13,428 | ||||||
| 206,021 | ||||||||
| Food, Beverage & Tobacco: 17.3% | ||||||||
| Angel Yeast Co. Ltd. # | 15,100 | 116,966 | ||||||
| Anhui Yingjia Distillery Co. Ltd. # | 5,400 | 42,482 | ||||||
| China Feihe Ltd. (HKD) 144A # | 115,000 | 193,836 | ||||||
| Chongqing Brewery Co. Ltd. (CNY) # * | 6,100 | 123,727 | ||||||
| COFCO Joycome Foods Ltd. (HKD) # * † | 72,000 | 22,659 | ||||||
| Ganso Co. Ltd. (CNY) | 2,500 | 7,398 | ||||||
| Guangdong Guanghong Holdings Co. Ltd. # | 7,400 | 6,382 | ||||||
| Hebei Chengde Lolo Co. # | 19,500 | 34,384 | ||||||
| Jiangsu King’s Luck Brewery JSC Ltd. # | 14,800 | 103,569 | ||||||
| JiuGui Liquor Co. Ltd. # | 6,000 | 229,705 | ||||||
| Luzhou Laojiao Co. Ltd. # | 20,928 | 719,177 | ||||||
| Muyuan Foods Co. Ltd. # | 82,324 | 656,136 | ||||||
| Sanquan Food Co. Ltd. # | 13,710 | 34,461 | ||||||
| Shandong Longda Meat Foodstuff Co. Ltd. # | 12,300 | 18,741 | ||||||
| Shanghai Bairun Investment Holding Group Co. Ltd. | 16,840 | 194,362 | ||||||
| Shanxi Xinghuacun Fen Wine Factory Co. Ltd. # | 11,095 | 541,326 | ||||||
| Sichuan Swellfun Co. Ltd. # | 5,400 | 105,720 | ||||||
| Want Want China Holdings Ltd. (HKD) # | 141,000 | 106,467 | ||||||
| Wuliangye Yibin Co. Ltd. # | 44,230 | 1,498,871 | ||||||
| Yihai International Holding Ltd. (HKD) # * † | 15,000 | 83,591 | ||||||
| 4,839,960 | ||||||||
| Health Care Equipment & Services: 7.9% | ||||||||
| Aier Eye Hospital Group Co. Ltd. # | 75,684 | 624,581 | ||||||
| Blue Sail Medical Co. Ltd. # | 19,300 | 53,730 | ||||||
| Dian Diagnostics Group Co. Ltd. # | 16,200 | 74,141 | ||||||
| Edan Instruments, Inc. # | 13,700 | 24,650 | ||||||
| Guangzhou Kingmed Diagnostics Group Co. Ltd. # | 8,300 | 131,297 | ||||||
| Guangzhou Wondfo Biotech Co. Ltd. # | 9,330 | 62,032 | ||||||
| Intco Medical Technology Co. Ltd. # | 16,200 | 146,513 | ||||||
| Jafron Biomedical Co. Ltd. # | 19,150 | 173,578 | ||||||
| Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. # | 21,000 | 105,338 | ||||||
| Kangji Medical Holdings Ltd. (HKD) # † | 10,500 | 13,927 | ||||||
| Lepu Medical Technology Beijing Co. Ltd. # | 38,200 | 158,481 | ||||||
| Ningbo David Medical Device Co. Ltd. # | 4,600 | 10,237 | ||||||
| Ovctek China, Inc. # | 15,709 | 199,169 | ||||||
| Sansure Biotech, Inc. # | 4,903 | 42,203 | ||||||
| Shanghai Kindly Enterprise Development Group Co. Ltd. # * | 7,900 | 26,723 | ||||||
| Shanghai ZJ Bio-Tech Co. Ltd. # | 6,308 | 46,165 | ||||||
| Tibet Rhodiola Pharmaceutical Holding Co. # | 2,500 | 18,496 | ||||||
| Tofflon Science & Technology Group Co. Ltd. # | 9,300 | 64,743 | ||||||
| Winner Medical Co. Ltd. # | 13,600 | 168,666 | ||||||
| Wuhan Easydiagnosis Biomedicine Co. Ltd. # | 1,100 | 10,545 | ||||||
| Zhejiang Gongdong Medical Technology Co. Ltd. # | 3,700 | 57,243 | ||||||
| Zhende Medical Co. Ltd. # | 2,700 | 15,106 | ||||||
| 2,227,564 | ||||||||
| Household & Personal Products: 0.7% | ||||||||
| By-health Co. Ltd. # | 37,100 | 162,394 | ||||||
| Mingchen Health Co. Ltd. | 3,000 | 21,145 | ||||||
| 183,539 | ||||||||
| Materials: 10.3% | ||||||||
| Anhui Conch Cement Co. Ltd. # | 68,767 | 434,341 | ||||||
| Anhui Guangxin Agrochemical Co. Ltd. # | 6,300 | 31,748 | ||||||
| Chengdu Guibao Science & Technology Co. Ltd. # | 6,500 | 18,635 | ||||||
| China Nonferrous Mining Corp. Ltd. (HKD) # † | 33,000 | 15,824 | ||||||
| Chongqing Zaisheng Technology Corp. Ltd. # | 12,000 | 22,179 | ||||||
| Citic Pacific Special Steel Group Co. Ltd. # | 42,470 | 134,285 | ||||||
| City Development Environment Co. Ltd. # | 6,000 | 9,967 | ||||||
| CNSIG Inner Mongolia Chemical Industry Co. Ltd. # | 13,300 | 45,698 | ||||||
| DeHua TB New Decoration Materials Co. Ltd. # | 9,400 | 13,711 | ||||||
| Fangda Special Steel Technology Co. Ltd. # | 29,500 | 35,900 | ||||||
| Fujian Green Pine Co. Ltd. | 11,900 | 25,813 | ||||||
| Gansu Shangfeng Cement Co. Ltd. # | 8,100 | 23,697 | ||||||
| Guangzhou Tinci Materials Technology Co. Ltd. # | 23,150 | 542,492 | ||||||
| Hailir Pesticides and Chemicals Group Co. Ltd. # | 3,100 | 8,431 | ||||||
| HBIS Resources Co. Ltd. # | 8,300 | 20,477 | ||||||
| Huafon Chemical Co. Ltd. # | 151,100 | 283,290 | ||||||
| Huaxin Cement Co. Ltd. # | 22,400 | 71,037 | ||||||
| Hunan Haili Chemical Industry Co. Ltd. # | 11,470 | 13,811 | ||||||
| Jiangsu Huachang Chemical Co. Ltd. # | 16,000 | 27,928 | ||||||
| Jiangsu Sopo Chemical Co. # | 16,300 | 44,369 | ||||||
| Jiangsu Yangnong Chemical Co. Ltd. # | 5,700 | 92,269 | ||||||
| Jiangxi Chenguang New Materials Co. Ltd. # | 4,100 | 22,989 | ||||||
| Jiangxi Wannianqing Cement Co. Ltd. # | 12,000 | 24,672 | ||||||
| Jiangyin Hengrun Heavy Industries Co. ltd # | 4,000 | 23,858 | ||||||
| Kingfa Sci & Tech Co. Ltd. # | 47,300 | 107,150 | ||||||
| Lier Chemical Co. Ltd. # | 7,900 | 34,089 | ||||||
| Luxi Chemical Group Co. Ltd. # | 36,000 | 104,361 | ||||||
| Ningxia Building Materials Group Co. Ltd. # | 6,800 | 11,772 | ||||||
| Shandong Bohui Paper Industrial Co. Ltd. # | 7,900 | 13,929 | ||||||
| Shandong Head Co. Ltd. # * | 6,120 | 39,817 | ||||||
| Shandong Hualu Hengsheng Chemical Co. Ltd. # | 45,400 | 230,175 | ||||||
| Shangdong Lubei Chemical Co. Ltd. # | 12,200 | 23,255 | ||||||
| Sichuan Anning Iron and Titanium Co. Ltd. # | 5,500 | 42,162 | ||||||
| Tianjin You Fa Steel Pipe Group Stock Co. Ltd. # | 44,800 | 70,549 | ||||||
| West China Cement Ltd. (HKD) # | 66,000 | 12,269 | ||||||
| Xiamen Jihong Technology Co. Ltd. # | 7,500 | 19,098 | ||||||
| Zhejiang Double Arrow Rubber Co. Ltd. # | 9,200 | 10,394 | ||||||
| Zhejiang JIULI Hi-tech Metals Co. Ltd. # | 19,600 | 42,412 | ||||||
| Zhejiang Wansheng Co. Ltd. # | 7,700 | 28,566 | ||||||
| Zhejiang Xinan Chemical Industrial Group Co. Ltd. # | 21,000 | 102,372 | ||||||
| 2,879,791 | ||||||||
| Media & Entertainment: 5.3% | ||||||||
| G-bits Network Technology Xiamen Co. Ltd. # | 1,200 | 72,772 | ||||||
| Hangzhou Electronic Soul Network Technology Co. Ltd. # | 2,500 | 8,537 | ||||||
| Shanghai Fengyuzhu Culture and Technology Co. Ltd. # | 4,000 | 9,319 | ||||||
| Tencent Holdings Ltd. (HKD) # | 23,300 | 1,390,980 | ||||||
| 1,481,608 | ||||||||
| Pharmaceuticals, Biotechnology & Life Sciences: 8.3% | ||||||||
| Beijing Hotgen Biotech Co. Ltd. # | 1,253 | 22,384 | ||||||
| Changchun High & New Technology Industry Group, Inc. # | 9,700 | 411,316 | ||||||
| China Medical System Holdings Ltd. (HKD) # | 40,000 | 72,900 | ||||||
| China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. # | 10,700 | 46,785 | ||||||
| Chongqing Zhifei Biological Products Co. Ltd. # | 35,400 | 866,588 | ||||||
| Daan Gene Co. Ltd. # | 29,300 | 84,307 | ||||||
| Guangdong Hybribio Biotech Co. Ltd. # | 4,000 | 19,664 | ||||||
| Livzon Pharmaceutical Group, Inc. # | 17,500 | 104,908 | ||||||
| Shandong Wohua Pharmaceutical Co. Ltd. # | 8,100 | 8,422 | ||||||
| Shanghai Kehua Bio- Engineering Co. Ltd. | 11,000 | 22,464 | ||||||
| Shenyang Xingqi Pharmaceutical Co. Ltd. # | 2,200 | 43,312 | ||||||
| Walvax Biotechnology Co. Ltd. # | 35,500 | 344,927 | ||||||
| Xiamen Kingdomway Group Co. # | 6,700 | 32,344 | ||||||
| Zhejiang Cheng Yi Pharmaceutical Co. Ltd. # | 3,700 | 8,386 | ||||||
| Zhejiang NHU Co. Ltd. # | 40,960 | 169,620 | ||||||
| Zhejiang Orient Gene Biotech Co. Ltd. # | 2,824 | 68,059 | ||||||
| 2,326,386 | ||||||||
| Real Estate: 4.1% | ||||||||
| A-Living Smart City Services Co. Ltd. 144A # | 16,500 | 58,595 | ||||||
| Central China New Life Ltd. (HKD) # * † | 12,000 | 8,511 | ||||||
| CIFI Ever Sunshine Services Group Ltd. (HKD) # † | 26,000 | 51,970 | ||||||
| Country Garden Services Holdings Co. Ltd. (HKD) # | 58,000 | 458,312 | ||||||
| Evergrande Property Services Group Ltd. (HKD) 144A # * | 49,000 | 31,832 | ||||||
| Hefei Urban Construction Development Co. Ltd. # | 11,300 | 13,704 | ||||||
| Logan Group Co. Ltd. (HKD) # | 44,000 | 45,917 | ||||||
| Longfor Group Holdings Ltd. (HKD) 144A # | 50,500 | 230,739 | ||||||
| Powerlong Real Estate Holdings Ltd. (HKD) # | 50,000 | 37,689 | ||||||
| Rongan Property Co. Ltd. # | 34,400 | 13,130 | ||||||
| Seazen Holdings Co. Ltd. # | 21,400 | 123,578 | ||||||
| S-Enjoy Service Group Co. Ltd. (HKD) # * † | 9,000 | 19,139 | ||||||
| Shenzhen New Nanshan Holding Group Co. Ltd. # | 42,200 | 20,919 | ||||||
| Shenzhen Properties & Resources Development Group Ltd. # | 6,500 | 12,140 | ||||||
| Times Neighborhood Holdings Ltd. (HKD) # | 18,000 | 9,230 | ||||||
| 1,135,405 | ||||||||
| Retailing: 10.6% | ||||||||
| Alibaba Group Holding Ltd. (ADR) * | 8,741 | 1,294,105 | ||||||
| Easyhome New Retail Group Co. Ltd. # | 104,100 | 88,153 | ||||||
| JD.com, Inc. (ADR) * | 18,222 | 1,316,357 | ||||||
| Pop Mart International Group Ltd. (HKD) 144A # † | 4,800 | 32,493 | ||||||
| Vipshop Holdings Ltd. (ADR) * | 20,719 | 230,810 | ||||||
| 2,961,918 | ||||||||
| Semiconductors & Semiconductor Equipment: 8.4% | ||||||||
| Daqo New Energy Corp. (ADR) * | 2,478 | 141,246 | ||||||
| Gigadevice Semiconductor Beijing, Inc. # | 14,280 | 318,907 | ||||||
| LONGi Green Energy Technology Co. Ltd. # | 112,836 | 1,436,115 | ||||||
| Shenzhen Sunmoon Microelectronics Co. Ltd. | 2,230 | 94,431 | ||||||
| Xinyi Solar Holdings Ltd. (HKD) # | 150,000 | 307,069 | ||||||
| Yangzhou Yangjie Electronic Technology Co. Ltd. # | 7,000 | 48,126 | ||||||
| 2,345,894 | ||||||||
| Software & Services: 1.1% | ||||||||
| Chinasoft International Ltd. (HKD) # * | 80,000 | 141,290 | ||||||
| Shanghai Baosight Software Co. Ltd. # | 15,220 | 154,872 | ||||||
| Sichuan Jiuyuan Yinhai Software Co. Ltd. # | 5,500 | 17,143 | ||||||
| 313,305 | ||||||||
| Technology Hardware & Equipment: 9.0% | ||||||||
| Beijing Wanji Technology Co. Ltd. # | 4,400 | 18,411 | ||||||
| Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd. # | 4,100 | 95,425 | ||||||
| BYD Electronic International Co. Ltd. (HKD) # † | 20,500 | 71,695 | ||||||
| Chongqing Chuanyi Automation Co. Ltd. # | 13,000 | 36,965 | ||||||
| Cubic Sensor and Instrument Co. Ltd. # | 2,333 | 50,116 | ||||||
| Eoptolink Technology, Inc. Ltd. # | 11,823 | 61,417 | ||||||
| Goldenmax International Technology Ltd. # | 6,700 | 15,781 | ||||||
| Luxshare Precision Industry Co. Ltd. # | 122,705 | 674,038 | ||||||
| Maxscend Microelectronics Co. Ltd. # | 7,600 | 411,156 | ||||||
| Shanghai Friendess Electronic Technology Corp. Ltd. # | 2,963 | 200,660 | ||||||
| Shenzhen H&T Intelligent Control Co. Ltd. # | 27,700 | 88,769 | ||||||
| Shenzhen TVT Digital Technology Co. Ltd. # | 5,900 | 8,941 | ||||||
| Sunny Optical Technology Group Co. Ltd. (HKD) # | 23,400 | 612,726 | ||||||
| Suntront Techonology Co. Ltd. # | 24,800 | 18,284 | ||||||
| Suzhou Etron Technologies Co. Ltd. # | 4,200 | 19,235 | ||||||
| Wuxi Xinje Electric Co. Ltd. | 2,600 | 18,584 | ||||||
| ZheJiang Dali Technology Co. Ltd. # | 14,460 | 49,879 | ||||||
| Zhuzhou Hongda Electronics Corp. Ltd. # | 7,200 | 84,198 | ||||||
| 2,536,280 | ||||||||
| Telecommunication Services: 0.0% | ||||||||
| BizConf Telecom Co. Ltd. # | 2,800 | 10,425 | ||||||
| Transportation: 1.5% | ||||||||
| Anhui Expressway Co. Ltd. # | 9,700 | 9,981 | ||||||
| COSCO SHIPPING Holdings Co. Ltd. # * | 142,500 | 377,096 | ||||||
| Guangdong Provincial Expressway Development Co. Ltd. # | 17,600 | 20,260 | ||||||
| 407,337 | ||||||||
| Total Common Stocks (Cost: $25,488,947) | 28,002,386 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.4% (Cost: $107,615) | ||||||||
| Money Market Fund: 0.4% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 107,615 | 107,615 | ||||||
| Total Investments: 100.3% (Cost: $25,596,562) | 28,110,001 | |||||||
| Liabilities in excess of other assets: (0.3)% | (81,864 | ) | ||||||
| NET ASSETS: 100.0% | $ | 28,028,137 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| CNH | Chinese Yuan Renminbi |
| CNY | Chinese Yuan |
| HKD | Hong Kong Dollar |
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $24,509,853 which represents 87.4% of net assets. |
| * | Non-income producing |
| † | Security fully or partially on loan. Total market value of securities on loan is $319,100. |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $744,611, or 2.7% of net assets. |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Communication Services | 5.3 | % | $ | 1,492,033 | ||||
| Consumer Discretionary | 14.9 | 4,186,102 | ||||||
| Consumer Staples | 18.0 | 5,023,499 | ||||||
| Energy | 0.7 | 206,021 | ||||||
| Financials | 1.6 | 450,965 | ||||||
| Health Care | 16.3 | 4,553,950 | ||||||
| Industrials | 10.2 | 2,879,141 | ||||||
| Information Technology | 18.6 | 5,195,479 | ||||||
| Materials | 10.3 | 2,879,791 | ||||||
| Real Estate | 4.1 | 1,135,405 | ||||||
| 100.0 | % | $ | 28,002,386 | |||||
VANECK CHINAAMC SME-CHINEXT ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 100.2% | ||||||||
| Automobiles & Components: 3.7% | ||||||||
| BYD Co. Ltd. # | 41,622 | $ | 1,604,423 | |||||
| Banks: 2.1% | ||||||||
| Bank of Ningbo Co. Ltd. # | 166,332 | 902,974 | ||||||
| Capital Goods: 20.0% | ||||||||
| AVIC Electromechanical Systems Co. Ltd. # | 102,900 | 211,027 | ||||||
| Contemporary Amperex Technology Co. Ltd. # | 57,300 | 4,648,239 | ||||||
| Eve Energy Co. Ltd. # | 58,596 | 892,507 | ||||||
| Han’s Laser Technology Industry Group Co. Ltd. # | 43,470 | 253,042 | ||||||
| Shenzhen Inovance Technology Co. Ltd. # | 84,285 | 820,195 | ||||||
| Sungrow Power Supply Co. Ltd. # | 49,400 | 1,124,148 | ||||||
| Xinjiang Goldwind Science & Technology Co. Ltd. # | 130,730 | 350,679 | ||||||
| Zhejiang Sanhua Intelligent Controls Co. Ltd. # | 91,624 | 322,823 | ||||||
| 8,622,660 | ||||||||
| Consumer Durables & Apparel: 0.4% | ||||||||
| Hangzhou Robam Appliances Co. Ltd. # | 23,680 | 123,684 | ||||||
| Zhejiang Supor Co. Ltd. # | 7,823 | 56,567 | ||||||
| 180,251 | ||||||||
| Consumer Services: 0.6% | ||||||||
| Offcn Education Technology Co. Ltd. # * | 66,900 | 112,560 | ||||||
| Songcheng Performance Development Co. Ltd. # | 71,921 | 156,189 | ||||||
| 268,749 | ||||||||
| Diversified Financials: 7.0% | ||||||||
| China Great Wall Securities Co. Ltd. # | 47,600 | 86,834 | ||||||
| East Money Information Co. Ltd. # | 410,017 | 2,170,631 | ||||||
| First Capital Securities Co. Ltd. # | 179,480 | 200,551 | ||||||
| Guosen Securities Co. Ltd. # | 147,243 | 268,811 | ||||||
| Hithink RoyalFlush Information Network Co. Ltd. # | 10,500 | 193,976 | ||||||
| Western Securities Co. Ltd. # | 93,254 | 119,018 | ||||||
| 3,039,821 | ||||||||
| Food, Beverage & Tobacco: 8.1% | ||||||||
| Beijing Dabeinong Technology Group Co. Ltd. # | 142,400 | 166,568 | ||||||
| Fujian Sunner Development Co. Ltd. # | 30,200 | 100,899 | ||||||
| Guangdong Haid Group Co. Ltd. # | 40,000 | 417,077 | ||||||
| Jiangsu Yanghe Brewery Joint- Stock Co. Ltd. # | 29,138 | 745,594 | ||||||
| Jiangxi Zhengbang Technology Co. Ltd. # | 70,100 | 101,963 | ||||||
| Muyuan Foods Co. Ltd. # | 121,940 | 971,883 | ||||||
| Shanghai Bairun Investment Holding Group Co. Ltd. | 19,700 | 227,371 | ||||||
| Wens Foodstuffs Group Co. Ltd. # | 247,760 | 554,556 | ||||||
| Yihai Kerry Arawana Holdings Co. Ltd. # | 21,200 | 226,729 | ||||||
| 3,512,640 | ||||||||
| Health Care Equipment & Services: 8.2% | ||||||||
| Aier Eye Hospital Group Co. Ltd. # | 117,011 | 965,632 | ||||||
| Intco Medical Technology Co. Ltd. # | 15,900 | 143,800 | ||||||
| Jafron Biomedical Co. Ltd. # | 21,800 | 197,598 | ||||||
| Lepu Medical Technology Beijing Co. Ltd. # | 58,713 | 243,584 | ||||||
| Meinian Onehealth Healthcare Holdings Co. Ltd. # * | 142,416 | 163,587 | ||||||
| Ovctek China, Inc. # | 23,200 | 294,144 | ||||||
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd. # | 21,800 | 1,302,955 | ||||||
| Winner Medical Co. Ltd. # | 2,700 | 33,485 | ||||||
| Winning Health Technology Group Co. Ltd. # | 84,366 | 189,183 | ||||||
| 3,533,968 | ||||||||
| Household & Personal Products: 0.4% | ||||||||
| By-health Co. Ltd. # | 38,400 | 168,085 | ||||||
| Materials: 8.0% | ||||||||
| Beijing Oriental Yuhong Waterproof Technology Co. Ltd. # | 85,603 | 584,519 | ||||||
| Ganfeng Lithium Co. Ltd. # | 41,200 | 1,034,464 | ||||||
| Huafon Chemical Co. Ltd. # | 70,800 | 132,739 | ||||||
| LB Group Co. Ltd. # | 57,100 | 252,155 | ||||||
| Rongsheng Petrochemical Co. Ltd. # | 158,100 | 457,825 | ||||||
| Yunnan Energy New Material Co. Ltd. # | 23,000 | 996,251 | ||||||
| 3,457,953 | ||||||||
| Media & Entertainment: 3.6% | ||||||||
| Beijing Enlight Media Co. Ltd. # | 56,642 | 86,942 | ||||||
| Focus Media Information Technology Co. Ltd. # | 535,084 | 606,008 | ||||||
| Giant Network Group Co. Ltd. # | 42,180 | 67,979 | ||||||
| Mango Excellent Media Co. Ltd. # | 34,270 | 231,338 | ||||||
| Perfect World Co. Ltd. # | 65,350 | 152,305 | ||||||
| Wuhu Sanqi Interactive Entertainment Network Technology Group Co. Ltd. # | 63,000 | 204,198 | ||||||
| Zhejiang Century Huatong Group Co. Ltd. # * | 167,860 | 192,092 | ||||||
| 1,540,862 | ||||||||
| Pharmaceuticals, Biotechnology & Life Sciences: 11.5% | ||||||||
| Asymchem Laboratories Tianjin Co. Ltd. # | 7,800 | 537,695 | ||||||
| Betta Pharmaceuticals Co. Ltd. # | 12,000 | 173,478 | ||||||
| BGI Genomics Co. Ltd. # | 11,100 | 150,565 | ||||||
| Chengdu Kanghong Pharmaceutical Group Co. Ltd. # | 16,200 | 45,886 | ||||||
| Chongqing Zhifei Biological Products Co. Ltd. # | 36,469 | 892,757 | ||||||
| Hangzhou Tigermed Consulting Co. Ltd. # | 27,000 | 727,050 | ||||||
| Hualan Biological Engineering, Inc. # | 45,737 | 197,134 | ||||||
| Imeik Technology Development Co. Ltd. # | 2,500 | 229,560 | ||||||
| Pharmaron Beijing Co. Ltd. # | 11,900 | 396,552 | ||||||
| Shanghai RAAS Blood Products Co. Ltd. # | 156,663 | 165,398 | ||||||
| Shenzhen Kangtai Biological Products Co. Ltd. # | 15,700 | 267,266 | ||||||
| Shenzhen New Industries Biomedical Engineering Co. Ltd. # | 14,400 | 108,396 | ||||||
| Walvax Biotechnology Co. Ltd. # | 79,500 | 772,443 | ||||||
| Zhejiang NHU Co. Ltd. # | 69,344 | 287,161 | ||||||
| 4,951,341 | ||||||||
| Retailing: 0.4% | ||||||||
| Suning.com Co. Ltd. # * | 208,938 | 161,370 | ||||||
| Semiconductors & Semiconductor Equipment: 7.3% | ||||||||
| Ingenic Semiconductor Co. Ltd. # | 9,700 | 191,818 | ||||||
| JA Solar Technology Co. Ltd. # | 26,500 | 268,632 | ||||||
| NAURA Technology Group Co. Ltd. # | 11,400 | 640,066 | ||||||
| SG Micro Corp. # | 7,200 | 369,304 | ||||||
| Tianjin Zhonghuan Semiconductor Co. Ltd. # | 109,920 | 777,642 | ||||||
| Tianshui Huatian Technology Co. Ltd. # | 109,800 | 204,411 | ||||||
| Unigroup Guoxin Microelectronics Co. Ltd. # | 22,000 | 701,795 | ||||||
| 3,153,668 | ||||||||
| Software & Services: 3.9% | ||||||||
| Beijing Shiji Information Technology Co. Ltd. # | 22,966 | 90,543 | ||||||
| Glodon Co. Ltd. # | 50,575 | 522,393 | ||||||
| Iflytek Co. Ltd. # | 89,050 | 724,896 | ||||||
| Sangfor Technologies, Inc. # | 9,600 | 349,137 | ||||||
| 1,686,969 | ||||||||
| Technology Hardware & Equipment: 12.6% | ||||||||
| Anker Innovations Technology Co. Ltd. # | 2,100 | 34,801 | ||||||
| Avary Holding Shenzhen Co. Ltd. # | 26,900 | 138,635 | ||||||
| Chaozhou Three-Circle Group Co. Ltd. # | 58,700 | 336,027 | ||||||
| GoerTek, Inc. # | 120,816 | 801,691 | ||||||
| Guangzhou Shiyuan Electronic Technology Co. Ltd. # | 17,100 | 207,404 | ||||||
| Lens Technology Co. Ltd. # | 68,668 | 220,853 | ||||||
| Lingyi iTech Guangdong Co. # * | 123,400 | 122,974 | ||||||
| Luxshare Precision Industry Co. Ltd. # | 229,382 | 1,260,032 | ||||||
| Maxscend Microelectronics Co. Ltd. # | 9,988 | 540,436 | ||||||
| Shennan Circuits Co. Ltd. # | 8,320 | 121,714 | ||||||
| Shenzhen Sunway Communication Co. Ltd. # | 41,401 | 143,799 | ||||||
| Suzhou Dongshan Precision Manufacturing Co. Ltd. # | 65,700 | 211,212 | ||||||
| Wuhan Guide Infrared Co. Ltd. # | 39,540 | 142,456 | ||||||
| Wuxi Lead Intelligent Equipment Co. Ltd. # | 50,120 | 535,800 | ||||||
| Yealink Network Technology Corp. Ltd. # | 13,600 | 171,085 | ||||||
| Zhejiang Dahua Technology Co. Ltd. # | 87,905 | 321,075 | ||||||
| Zhongji Innolight Co. Ltd. # | 25,200 | 135,461 | ||||||
| 5,445,455 | ||||||||
| Transportation: 2.4% | ||||||||
| SF Holding Co. Ltd. # | 82,800 | 835,957 | ||||||
| Yunda Holding Co. Ltd. # | 62,124 | 184,804 | ||||||
| 1,020,761 | ||||||||
| Total Common Stocks (Cost: $20,071,340) | 43,251,950 | |||||||
| Total Investments: 100.2% (Cost: $20,071,340) | 43,251,950 | |||||||
| Liabilities in excess of other assets: (0.2)% | (95,051 | ) | ||||||
| NET ASSETS: 100.0% | $ | 43,156,899 | ||||||
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $43,024,579 which represents 99.7% of net assets. |
| * | Non-income producing |
| Summary of Investments by Sector | % of Investments | Value | ||||||
| Communication Services | 3.6 | % | $ | 1,540,862 | ||||
| Consumer Discretionary | 5.1 | 2,214,793 | ||||||
| Consumer Staples | 8.5 | 3,680,725 | ||||||
| Financials | 9.1 | 3,942,795 | ||||||
| Health Care | 19.6 | 8,485,309 | ||||||
| Industrials | 22.3 | 9,643,421 | ||||||
| Information Technology | 23.8 | 10,286,092 | ||||||
| Materials | 8.0 | 3,457,953 | ||||||
| 100.0 | % | $ | 43,251,950 | |||||
VANECK EGYPT INDEX ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 100.0% | ||||||||
| Banks: 7.6% | ||||||||
| Commercial International Bank Egypt SAE (USD) (GDR) * | 614,142 | $ | 1,639,759 | |||||
| Capital Goods: 4.6% | ||||||||
| ElSewedy Electric Co. # | 1,922,544 | 995,335 | ||||||
| Consumer Durables & Apparel: 3.1% | ||||||||
| Oriental Weavers # | 1,207,030 | 667,487 | ||||||
| Consumer Services: 6.6% | ||||||||
| Cairo Investment & Real Estate Development Co. SAE # | 1,269,431 | 980,254 | ||||||
| Taaleem Management Services Co. SAE * | 1,427,192 | 439,415 | ||||||
| 1,419,669 | ||||||||
| Diversified Financials: 9.2% | ||||||||
| Egyptian Financial Group-Hermes Holding Co. # * | 1,148,736 | 884,316 | ||||||
| Egyptian Financial Group-Hermes Holding Co. (USD) (GDR) # * | 284,481 | 454,425 | ||||||
| Pioneers Holding for Financial Investments SAE # * | 1,865,166 | 660,854 | ||||||
| 1,999,595 | ||||||||
| Food, Beverage & Tobacco: 11.8% | ||||||||
| Eastern Co. SAE | 2,398,292 | 1,867,372 | ||||||
| Juhayna Food Industries # * | 1,927,484 | 684,089 | ||||||
| 2,551,461 | ||||||||
| Health Care Equipment & Services: 6.4% | ||||||||
| Cleopatra Hospital # * | 3,408,707 | 969,785 | ||||||
| Ibnsina Pharma SAE # * | 2,010,228 | 421,365 | ||||||
| 1,391,150 | ||||||||
| Materials: 17.4% | ||||||||
| Alexandria Mineral Oils Co. # * | 1,923,119 | 463,731 | ||||||
| Centamin Plc (GBP) # | 782,529 | 1,002,493 | ||||||
| Egypt Kuwait Holding Co. SAE (USD) # * | 1,263,815 | 1,453,645 | ||||||
| Ezz Steel Co. SAE # * | 556,155 | 453,384 | ||||||
| Sidi Kerir Petrochemicals Co. # * | 684,036 | 384,391 | ||||||
| 3,757,644 | ||||||||
| Real Estate: 22.1% | ||||||||
| Emaar Misr for Development SAE # * | 2,739,932 | 417,014 | ||||||
| Heliopolis Housing # | 1,739,517 | 548,776 | ||||||
| Medinet Nasr Housing # | 3,972,211 | 678,797 | ||||||
| Palm Hills Developments SAE # | 6,882,240 | 848,651 | ||||||
| Real Estate Egyptian Consortium SAE * | 521,170 | 196,931 | ||||||
| Six of October Development & Investment # | 745,873 | 876,105 | ||||||
| Talaat Moustafa Group # | 2,615,073 | 1,224,972 | ||||||
| 4,791,246 | ||||||||
| Software & Services: 6.1% | ||||||||
| Fawry for Banking & Payment Technology Services SAE # * | 1,465,228 | 1,323,060 | ||||||
| Telecommunication Services: 5.1% | ||||||||
| Telecom Egypt Co. # | 1,221,506 | 1,099,528 | ||||||
| Total Common Stocks (Cost: $19,426,234) | 21,635,934 | |||||||
| Total Investments: 100.0% (Cost: $19,426,234) | 21,635,934 | |||||||
| Liabilities in excess of other assets: 0.0% | (49 | ) | ||||||
| NET ASSETS: 100.0% | $ | 21,635,885 | ||||||
| Definitions: | |
| GBP | British Pound |
| GDR | Global Depositary Receipt |
| USD | United States Dollar |
| Footnotes: | |
| * | Non-income producing |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $17,492,457 which represents 80.8% of net assets. |
| Summary of Investments by Sector | % of Investments | Value | ||||||
| Communication Services | 5.1 | % | $ | 1,099,528 | ||||
| Consumer Discretionary | 9.7 | 2,087,156 | ||||||
| Consumer Staples | 11.8 | 2,551,461 | ||||||
| Financials | 16.8 | 3,639,354 | ||||||
| Health Care | 6.4 | 1,391,150 | ||||||
| Industrials | 4.6 | 995,335 | ||||||
| Information Technology | 6.1 | 1,323,060 | ||||||
| Materials | 17.4 | 3,757,644 | ||||||
| Real Estate | 22.1 | 4,791,246 | ||||||
| 100.0 | % | $ | 21,635,934 | |||||
VANECK INDIA GROWTH LEADERS ETF
CONSOLIDATED SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 100.0% | ||||||||
| Automobiles & Components: 9.4% | ||||||||
| Bajaj Auto Ltd. # | 61,763 | $ | 3,182,178 | |||||
| Balkrishna Industries Ltd. # | 37,414 | 1,271,702 | ||||||
| Ceat Ltd. # | 7,838 | 139,273 | ||||||
| Goodyear India Ltd. # | 2,879 | 39,946 | ||||||
| Hero MotoCorp Ltd. # | 63,787 | 2,432,477 | ||||||
| 7,065,576 | ||||||||
| Capital Goods: 6.8% | ||||||||
| Ashoka Buildcon Ltd. # * | 62,447 | 82,337 | ||||||
| Astral Ltd. # | 39,167 | 1,139,468 | ||||||
| Escorts Ltd. # | 23,137 | 459,579 | ||||||
| Havells India Ltd. # | 106,099 | 1,950,376 | ||||||
| HG Infra Engineering Ltd. # | 31,089 | 268,919 | ||||||
| IndiaMart InterMesh Ltd. 144A # | 5,790 | 650,177 | ||||||
| KNR Constructions Ltd. # | 67,211 | 259,199 | ||||||
| PNC Infratech Ltd. # | 55,317 | 283,612 | ||||||
| 5,093,667 | ||||||||
| Diversified Financials: 3.9% | ||||||||
| Central Depository Services India Ltd. # | 43,695 | 757,065 | ||||||
| Equitas Holdings Ltd. # | 125,935 | 203,953 | ||||||
| ICICI Securities Ltd. 144A # | 43,203 | 440,026 | ||||||
| Manappuram Finance Ltd. # | 212,784 | 481,955 | ||||||
| Muthoot Finance Ltd. # | 53,320 | 1,037,305 | ||||||
| 2,920,304 | ||||||||
| Food, Beverage & Tobacco: 0.4% | ||||||||
| Globus Spirits Ltd. # | 13,330 | 238,621 | ||||||
| Gujarat Ambuja Exports Ltd. # | 30,339 | 70,541 | ||||||
| Radico Khaitan Ltd. # | 100 | 1,185 | ||||||
| 310,347 | ||||||||
| Health Care Equipment & Services: 1.0% | ||||||||
| Dr Lal PathLabs Ltd. 144A # | 15,823 | 781,134 | ||||||
| Materials: 27.8% | ||||||||
| Alkyl Amines Chemicals # | 6,610 | 339,444 | ||||||
| APL Apollo Tubes Ltd. # * | 50,016 | 552,798 | ||||||
| Asian Paints Ltd. # | 83,746 | 3,650,559 | ||||||
| Atul Ltd. # | 7,563 | 961,486 | ||||||
| Balaji Amines Ltd. # | 4,513 | 273,380 | ||||||
| BASF India Ltd. # | 5,589 | 257,315 | ||||||
| Bhansali Engineering Polymers Ltd. # | 29,360 | 73,069 | ||||||
| Carborundum Universal Ltd. # | 46,498 | 552,944 | ||||||
| Cosmo Films Ltd. # | 5,201 | 104,518 | ||||||
| Deepak Nitrite Ltd. # | 34,256 | 1,104,827 | ||||||
| Finolex Industries Ltd. # | 306,859 | 859,081 | ||||||
| Godawari Power and Ispat Ltd. # | 5,764 | 98,739 | ||||||
| Jindal Poly Films Ltd. # | 3,231 | 44,259 | ||||||
| Jindal Stainless Hisar Ltd. # * | 45,965 | 177,478 | ||||||
| JK Cement Ltd. # | 11,846 | 495,280 | ||||||
| JK Lakshmi Cement Ltd. # | 28,715 | 237,854 | ||||||
| NMDC Ltd. # | 578,776 | 1,107,420 | ||||||
| Phillips Carbon Black Ltd. # | 38,467 | 137,514 | ||||||
| PI Industries Ltd. # | 40,188 | 1,716,146 | ||||||
| Polyplex Corp. Ltd. # | 5,799 | 134,390 | ||||||
| Rossari Biotech Ltd. # | 8,580 | 167,292 | ||||||
| Shree Cement Ltd. # | 4,895 | 1,903,305 | ||||||
| Steel Authority of India Ltd. # | 720,422 | 1,094,493 | ||||||
| Supreme Industries Ltd. # | 29,690 | 931,789 | ||||||
| Tata Metaliks Ltd. # | 6,284 | 87,346 | ||||||
| Tata Steel BSL Ltd. # * | 130,809 | 147,619 | ||||||
| Tata Steel Long Products Ltd. # | 5,545 | 67,417 | ||||||
| UltraTech Cement Ltd. # | 35,296 | 3,502,280 | ||||||
| 20,780,042 | ||||||||
| Media & Entertainment: 1.0% | ||||||||
| Chennai Super Kings Cricket Ltd. # * ø | 1,298,085 | 327,899 | ||||||
| Sun TV Network Ltd. # | 42,289 | 286,874 | ||||||
| TV18 Broadcast Ltd. # * | 315,567 | 160,071 | ||||||
| 774,844 | ||||||||
| Pharmaceuticals, Biotechnology & Life Sciences: 20.4% | ||||||||
| Ajanta Pharma Ltd. # | 13,359 | 408,983 | ||||||
| Alembic Pharmaceuticals Ltd. # | 29,503 | 312,313 | ||||||
| Alkem Laboratories Ltd. # | 14,562 | 778,703 | ||||||
| Aurobindo Pharma Ltd. # | 142,927 | 1,390,367 | ||||||
| Cipla Ltd. # | 257,884 | 3,409,549 | ||||||
| Divi’s Laboratories Ltd. # | 55,440 | 3,579,499 | ||||||
| Gland Pharma Ltd. 144A # * | 24,297 | 1,211,393 | ||||||
| Glenmark Pharmaceuticals Ltd. # | 70,297 | 481,852 | ||||||
| Granules India Ltd. # | 70,562 | 302,682 | ||||||
| IOL Chemicals and Pharmaceuticals Ltd. # | 10,181 | 81,044 | ||||||
| Ipca Laboratories Ltd. # | 32,538 | 1,053,108 | ||||||
| JB Chemicals & Pharmaceuticals Ltd. # | 15,198 | 380,741 | ||||||
| Laurus Labs Ltd. 144A # | 169,781 | 1,400,843 | ||||||
| Marksans Pharma Ltd. # | 101,295 | 93,639 | ||||||
| Pfizer Ltd. # | 7,481 | 560,370 | ||||||
| 15,445,086 | ||||||||
| Software & Services: 26.8% | ||||||||
| eClerx Services Ltd. # | 7,254 | 211,275 | ||||||
| Happiest Minds Technologies Ltd. # | 18,524 | 341,863 | ||||||
| Infosys Ltd. (ADR) | 165,789 | 3,688,805 | ||||||
| Larsen & Toubro Infotech Ltd. 144A # | 22,627 | 1,749,613 | ||||||
| Mastek Ltd. # | 5,485 | 228,844 | ||||||
| Mindtree Ltd. # | 28,215 | 1,588,852 | ||||||
| Mphasis Ltd. # | 40,071 | 1,664,345 | ||||||
| Oracle Financial Services Software Ltd. # | 11,512 | 704,863 | ||||||
| Persistent Systems Ltd. # | 24,579 | 1,228,022 | ||||||
| Tata Consultancy Services Ltd. # | 73,915 | 3,745,884 | ||||||
| Tata Elxsi Ltd. # | 17,236 | 1,291,049 | ||||||
| Wipro Ltd. # | 423,104 | 3,594,018 | ||||||
| 20,037,433 | ||||||||
| Telecommunication Services: 1.7% | ||||||||
| Indus Towers Ltd. # | 312,488 | 1,291,746 | ||||||
| Utilities: 0.8% | ||||||||
| Gujarat State Petronet Ltd. # | 145,287 | 616,126 | ||||||
| Total Common Stocks (Cost: $53,179,578) | 75,116,305 | |||||||
| Total Investments: 100.0% (Cost: $53,179,578) | 75,116,305 | |||||||
| Liabilities in excess of other assets: 0.0% | (5,507 | ) | ||||||
| NET ASSETS: 100.0% | $ | 75,110,798 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $71,427,500 which represents 95.1% of net assets. |
| * | Non-income producing |
| ø | Restricted Security – the aggregate value of restricted securities is $327,899, or 0.4% of net assets |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $6,233,186, or 8.3% of net assets. |
Restricted securities held by the fund as of September 30, 2021 are as follows:
| Security | Acquisition Date | Number of Shares | Acquisition Cost | Value | % of Net Assets | |||||||||||||
| Chennai Super Kings Cricket Ltd. | 10/08/2015 | 1,298,085 | $35,108 | $327,899 | 0.4 | % | ||||||||||||
| Summary of Investments by Sector | % of Investments | Value | ||||||
| Communication Services | 2.7 | % | $ | 2,066,590 | ||||
| Consumer Discretionary | 9.4 | 7,065,577 | ||||||
| Consumer Staples | 0.4 | 310,347 | ||||||
| Financials | 3.9 | 2,920,303 | ||||||
| Health Care | 21.6 | 16,226,220 | ||||||
| Industrials | 6.8 | 5,093,668 | ||||||
| Information Technology | 26.7 | 20,037,433 | ||||||
| Materials | 27.7 | 20,780,041 | ||||||
| Utilities | 0.8 | 616,126 | ||||||
| 100.0 | % | $ | 75,116,305 | |||||
VANECK INDONESIA INDEX ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 99.8% | ||||||||
| Automobiles & Components: 6.1% | ||||||||
| Astra International Tbk PT # | 5,423,700 | $ | 2,070,811 | |||||
| Banks: 30.5% | ||||||||
| Bank Central Asia Tbk PT # | 1,179,100 | 2,871,953 | ||||||
| Bank Jago Tbk PT # * | 1,440,600 | 1,515,537 | ||||||
| Bank Mandiri Persero Tbk PT # | 4,935,602 | 2,109,412 | ||||||
| Bank Negara Indonesia Persero Tbk PT # | 2,797,732 | 1,041,554 | ||||||
| Bank Rakyat Indonesia Persero Tbk PT # | 10,178,533 | 2,713,054 | ||||||
| Bank Syariah Indonesia Tbk PT # * | 1,069,000 | 152,009 | ||||||
| 10,403,519 | ||||||||
| Diversified Financials: 0.5% | ||||||||
| BFI Finance Indonesia Tbk PT | 2,515,200 | 176,613 | ||||||
| Energy: 7.8% | ||||||||
| Adaro Energy Tbk PT # | 5,998,300 | 733,251 | ||||||
| Banpu PCL (NYS) # | 1,789,029 | 652,821 | ||||||
| Bukit Asam Tbk PT # | 1,469,100 | 282,146 | ||||||
| United Tractors Tbk PT # | 559,569 | 1,006,901 | ||||||
| 2,675,119 | ||||||||
| Food, Beverage & Tobacco: 10.5% | ||||||||
| Charoen Pokphand Indonesia Tbk PT # | 2,706,100 | 1,208,000 | ||||||
| First Pacific Co. Ltd. (HKD) | 697,250 | 250,788 | ||||||
| Golden Agri-Resources Ltd. (SGD) # | 1,285,300 | 221,489 | ||||||
| Gudang Garam Tbk PT # | 173,200 | 392,610 | ||||||
| Indofood CBP Sukses Makmur Tbk PT # | 831,000 | 483,961 | ||||||
| Indofood Sukses Makmur Tbk PT # | 1,646,600 | 728,479 | ||||||
| Japfa Comfeed Indonesia Tbk PT # | 2,023,200 | 277,000 | ||||||
| 3,562,327 | ||||||||
| Health Care Equipment & Services: 1.0% | ||||||||
| Mitra Keluarga Karyasehat Tbk PT # | 2,030,397 | 325,304 | ||||||
| Household & Personal Products: 1.7% | ||||||||
| Unilever Indonesia Tbk PT # | 2,146,300 | 591,928 | ||||||
| Materials: 14.9% | ||||||||
| Aneka Tambang Tbk # | 3,154,500 | 499,804 | ||||||
| Barito Pacific Tbk PT # | 10,196,600 | 683,052 | ||||||
| Chandra Asri Petrochemical Tbk PT # | 1,118,259 | 561,324 | ||||||
| Indah Kiat Pulp & Paper Tbk PT # | 964,400 | 573,390 | ||||||
| Indocement Tunggal Prakarsa Tbk PT # | 676,500 | 492,555 | ||||||
| Merdeka Copper Gold Tbk PT # * | 4,639,000 | 811,908 | ||||||
| Nickel Mines Ltd. # | 518,806 | 344,984 | ||||||
| Pabrik Kertas Tjiwi Kimia Tbk PT # | 467,100 | 258,237 | ||||||
| Semen Indonesia Persero Tbk PT # | 1,090,100 | 619,545 | ||||||
| Vale Indonesia Tbk PT # | 782,600 | 249,153 | ||||||
| 5,093,952 | ||||||||
| Media & Entertainment: 2.5% | ||||||||
| Elang Mahkota Teknologi Tbk PT * | 5,508,600 | 669,692 | ||||||
| Surya Citra Media Tbk PT # * | 1,385,800 | 193,768 | ||||||
| 863,460 | ||||||||
| Pharmaceuticals, Biotechnology & Life Sciences: 2.2% | ||||||||
| Kalbe Farma Tbk PT # | 7,559,800 | 753,324 | ||||||
| Real Estate: 2.9% | ||||||||
| Bumi Serpong Damai Tbk PT # * | 3,414,400 | 236,386 | ||||||
| Ciputra Development Tbk PT # | 3,271,795 | 212,399 | ||||||
| Lippo Karawaci Tbk PT * | 12,231,800 | 130,757 | ||||||
| Pakuwon Jati Tbk PT # * | 5,599,400 | 187,820 | ||||||
| Summarecon Agung Tbk PT # * | 3,715,000 | 216,885 | ||||||
| 984,247 | ||||||||
| Retailing: 2.2% | ||||||||
| Ace Hardware Indonesia Tbk PT # | 2,572,900 | 227,243 | ||||||
| Jardine Cycle & Carriage Ltd. (SGD) # | 37,088 | 526,110 | ||||||
| 753,353 | ||||||||
| Telecommunication Services: 14.6% | ||||||||
| Indosat Tbk PT # * | 428,000 | 198,776 | ||||||
| Sarana Menara Nusantara Tbk PT # | 9,184,100 | 846,454 | ||||||
| Smartfren Telecom Tbk PT # * | 45,063,500 | 349,774 | ||||||
| Telkom Indonesia Persero Tbk PT (ADR) † | 99,694 | 2,532,228 | ||||||
| Tower Bersama Infrastructure Tbk PT # | 3,739,000 | 770,446 | ||||||
| XL Axiata Tbk PT # | 1,367,575 | 288,304 | ||||||
| 4,985,982 | ||||||||
| Transportation: 1.4% | ||||||||
| Jasa Marga Persero Tbk PT # * | 816,650 | 220,285 | ||||||
| Transcoal Pacific Tbk PT * | 375,100 | 250,285 | ||||||
| 470,570 | ||||||||
| Utilities: 1.0% | ||||||||
| Perusahaan Gas Negara Tbk PT # * | 3,909,600 | 322,715 | ||||||
| Total Common Stocks (Cost: $41,778,076) | 34,033,224 | |||||||
| WARRANTS: 0.8% | ||||||||
| Energy: 0.8% | ||||||||
| Banpu Public Co., THB 5.00, expiring 12/31/22 | 690,232 | 142,859 | ||||||
| Banpu Public Co. Ltd., THB 7.50, expiring 12/31/23 | 690,232 | 117,057 | ||||||
| Total Warrants (Cost: $0) | 259,916 | |||||||
| Total Investments Before Collateral for Securities Loaned: 100.6% (Cost: $41,778,076) | 34,293,140 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.0% (Cost: $10,000) | ||||||||
| Money Market Fund: 0.0% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 10,000 | 10,000 | ||||||
| Total Investments: 100.6% (Cost: $41,788,076) | 34,303,140 | |||||||
| Liabilities in excess of other assets: (0.6)% | (199,528 | ) | ||||||
| NET ASSETS: 100.0% | $ | 34,103,612 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| HKD | Hong Kong Dollar |
| NYS | New York Registry Shares Depositary Receipt |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $30,022,861 which represents 88.0% of net assets. |
| * | Non-income producing |
| † | Security fully or partially on loan. Total market value of securities on loan is $17,323. |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Communication Services | 17.0 | % | $ | 5,849,442 | ||||
| Consumer Discretionary | 8.2 | 2,824,164 | ||||||
| Consumer Staples | 12.1 | 4,154,256 | ||||||
| Energy | 8.6 | 2,935,034 | ||||||
| Financials | 30.8 | 10,580,132 | ||||||
| Health Care | 3.2 | 1,078,628 | ||||||
| Industrials | 1.4 | 470,570 | ||||||
| Materials | 14.9 | 5,093,952 | ||||||
| Real Estate | 2.9 | 984,247 | ||||||
| Utilities | 0.9 | 322,715 | ||||||
| 100.0 | % | $ | 34,293,140 | |||||
VANECK ISRAEL ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 99.9% | ||||||||
| Banks: 15.4% | ||||||||
| Bank Hapoalim BM # | 370,531 | $ | 3,252,383 | |||||
| Bank Leumi Le-Israel BM # | 524,414 | 4,440,349 | ||||||
| First International Bank Of Israel Ltd. # | 18,223 | 665,570 | ||||||
| Israel Discount Bank Ltd. # * | 365,005 | 1,925,486 | ||||||
| Mizrahi Tefahot Bank Ltd. # | 50,656 | 1,704,927 | ||||||
| 11,988,715 | ||||||||
| Capital Goods: 6.0% | ||||||||
| Ashtrom Group Ltd. # | 10,116 | 232,640 | ||||||
| Caesarstone Ltd. | 6,051 | 75,153 | ||||||
| Elbit Systems Ltd. (USD) | 9,000 | 1,303,560 | ||||||
| Elco Ltd. # | 2,928 | 180,627 | ||||||
| Electra Ltd. # | 367 | 230,331 | ||||||
| Inrom Construction Industries Ltd. # | 18,405 | 91,128 | ||||||
| Kornit Digital Ltd. (USD) * | 11,616 | 1,681,300 | ||||||
| RADA Electronic Industries Ltd. (USD) * | 16,440 | 174,922 | ||||||
| Shapir Engineering and Industry Ltd. # | 32,012 | 256,679 | ||||||
| Shikun & Binui Ltd. # * | 65,454 | 383,973 | ||||||
| Tera Light Ltd. * | 9,874 | 30,637 | ||||||
| 4,640,950 | ||||||||
| Commercial & Professional Services: 0.3% | ||||||||
| Danel Adir Yeoshua Ltd. # | 1,384 | 269,579 | ||||||
| Consumer Durables & Apparel: 0.9% | ||||||||
| Azorim-Investment Development & Construction Co. Ltd. # * | 18,962 | 80,895 | ||||||
| Delta Galil Industries Ltd. # | 3,139 | 156,150 | ||||||
| Electra Consumer Products 1970 Ltd. # | 3,367 | 163,676 | ||||||
| Maytronics Ltd. # | 13,647 | 321,155 | ||||||
| 721,876 | ||||||||
| Consumer Services: 0.7% | ||||||||
| 888 Holdings Plc | 65,613 | 380,418 | ||||||
| Fattal Holdings 1998 Ltd. # * | 1,638 | 146,938 | ||||||
| 527,356 | ||||||||
| Diversified Financials: 1.5% | ||||||||
| Altshuler Shaham Provident Funds & Pension Ltd. # | 20,998 | 114,650 | ||||||
| Isracard Ltd. # | 70,750 | 294,215 | ||||||
| Plus500 Ltd. (GBP) | 30,070 | 563,574 | ||||||
| Tel Aviv Stock Exchange Ltd. # | 29,856 | 158,277 | ||||||
| 1,130,716 | ||||||||
| Energy: 1.1% | ||||||||
| Delek Group Ltd. # * | 3,207 | 226,693 | ||||||
| Energean Plc (GBP) * † | 29,448 | 351,003 | ||||||
| Oil Refineries Ltd. # * | 596,281 | 134,319 | ||||||
| Paz Oil Co. Ltd. # * | 1,611 | 174,821 | ||||||
| 886,836 | ||||||||
| Food & Staples Retailing: 0.7% | ||||||||
| Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. # | 2,614 | 187,512 | ||||||
| Shufersal Ltd. # | 45,783 | 370,845 | ||||||
| 558,357 | ||||||||
| Food, Beverage & Tobacco: 0.6% | ||||||||
| Strauss Group Ltd. # | 14,844 | 433,435 | ||||||
| Health Care Equipment & Services: 5.7% | ||||||||
| Inmode Ltd. * | 12,112 | 1,931,258 | ||||||
| Mediterranean Towers Ltd. # | 28,761 | 88,668 | ||||||
| Nano-X Imaging Ltd. (USD) * † | 10,372 | 233,370 | ||||||
| Novocure Ltd. * | 19,105 | 2,219,428 | ||||||
| 4,472,724 | ||||||||
| Insurance: 3.5% | ||||||||
| Clal Insurance Enterprises Holdings Ltd. # * | 21,694 | 461,813 | ||||||
| Harel Insurance Investments & Financial Services Ltd. # | 39,020 | 402,160 | ||||||
| IDI Insurance Co. Ltd. # | 2,866 | 100,119 | ||||||
| Lemonade, Inc. * † | 11,471 | 768,672 | ||||||
| Menora Mivtachim Holdings Ltd. # | 9,052 | 186,559 | ||||||
| Migdal Insurance & Financial Holdings Ltd. # * | 127,541 | 186,575 | ||||||
| Phoenix Holdings Ltd. # | 57,620 | 656,094 | ||||||
| 2,761,992 | ||||||||
| Materials: 2.3% | ||||||||
| ICL Group Ltd. # | 200,633 | 1,461,091 | ||||||
| Israel Corp. Ltd. # * | 1,143 | 352,425 | ||||||
| 1,813,516 | ||||||||
| Media & Entertainment: 3.1% | ||||||||
| Perion Network Ltd. (USD) * † | 9,653 | 167,286 | ||||||
| Playtika Holding Corp. * | 73,971 | 2,043,819 | ||||||
| Tremor International Ltd. (GBP) * | 20,823 | 190,360 | ||||||
| 2,401,465 | ||||||||
| Pharmaceuticals, Biotechnology & Life Sciences: 4.7% | ||||||||
| Compugen Ltd. (USD) * | 22,170 | 132,355 | ||||||
| Taro Pharmaceutical Industries Ltd. (USD) * | 3,133 | 199,353 | ||||||
| Teva Pharmaceutical Industries Ltd. (ADR) * | 338,942 | 3,301,295 | ||||||
| 3,633,003 | ||||||||
| Real Estate: 7.2% | ||||||||
| AFI Properties Ltd. # * | 3,591 | 185,928 | ||||||
| Airport City Ltd. # * | 15,496 | 279,077 | ||||||
| Alony Hetz Properties & Investments Ltd. # | 39,544 | 606,594 | ||||||
| Amot Investments Ltd. # | 50,804 | 358,758 | ||||||
| Azrieli Group Ltd. # | 13,248 | 1,191,756 | ||||||
| Big Shopping Centers Ltd. # | 2,617 | 386,659 | ||||||
| Blue Square Real Estate Ltd. | 1,192 | 88,823 | ||||||
| Gav-Yam Lands Corp. Ltd. # | 22,986 | 233,762 | ||||||
| Gazit-Globe Ltd. # | 17,324 | 121,933 | ||||||
| Israel Canada T.R Ltd. # | 31,017 | 133,950 | ||||||
| Isras Investment Co. Ltd. # | 475 | 107,075 | ||||||
| Mega Or Holdings Ltd. # | 6,006 | 222,716 | ||||||
| Melisron Ltd. # * | 7,694 | 613,937 | ||||||
| Mivne Real Estate KD Ltd. # | 183,034 | 642,121 | ||||||
| Prashkovsky Investments and Construction Ltd. # | 2,411 | 70,870 | ||||||
| Property & Building Corp. Ltd. # * | 722 | 102,487 | ||||||
| Summit Real Estate Holdings Ltd. # * | 8,933 | 156,103 | ||||||
| YH Dimri Construction & Development Ltd. # | 1,241 | 88,476 | ||||||
| 5,591,025 | ||||||||
| Retailing: 3.2% | ||||||||
| Delek Automotive Systems Ltd. # | 10,584 | 133,976 | ||||||
| Fiverr International Ltd. (USD) * † | 10,775 | 1,968,377 | ||||||
| Fox Wizel Ltd. # | 1,981 | 248,597 | ||||||
| Tadiran Group Ltd. # | 1,071 | 129,686 | ||||||
| 2,480,636 | ||||||||
| Semiconductors & Semiconductor Equipment: 8.1% | ||||||||
| Camtek Ltd. (USD) * † | 7,230 | 292,887 | ||||||
| CEVA, Inc. * | 5,893 | 251,454 | ||||||
| DSP Group, Inc. * | 6,154 | 134,834 | ||||||
| Nova Ltd. (USD) * | 6,052 | 619,059 | ||||||
| SolarEdge Technologies, Inc. * | 15,463 | 4,101,097 | ||||||
| Tower Semiconductor Ltd. (USD) * | 30,985 | 926,452 | ||||||
| 6,325,783 | ||||||||
| Software & Services: 28.9% | ||||||||
| Amdocs Ltd. | 37,920 | 2,870,923 | ||||||
| Check Point Software Technologies Ltd. (USD) * | 35,506 | 4,013,598 | ||||||
| Cognyte Software Ltd. (USD) * | 22,572 | 463,855 | ||||||
| CyberArk Software Ltd. * | 12,394 | 1,956,021 | ||||||
| Formula Systems 1985 Ltd. # | 2,383 | 232,310 | ||||||
| Hilan Ltd. # | 3,865 | 217,083 | ||||||
| JFrog Ltd. (USD) * | 15,786 | 528,831 | ||||||
| LivePerson, Inc. * | 14,207 | 837,503 | ||||||
| Magic Software Enterprises Ltd. (USD) | 6,703 | 134,060 | ||||||
| Matrix IT Ltd. # | 9,145 | 243,328 | ||||||
| Nice Ltd. (ADR) * † | 16,807 | 4,773,860 | ||||||
| One Software Technologies Ltd. # | 8,006 | 128,805 | ||||||
| Sapiens International Corp. NV (USD) | 9,215 | 265,208 | ||||||
| Varonis Systems, Inc. * | 32,987 | 2,007,259 | ||||||
| Verint Systems, Inc. * | 18,011 | 806,713 | ||||||
| Wix.com Ltd. (USD) * | 15,606 | 3,058,308 | ||||||
| 22,537,665 | ||||||||
| Technology Hardware & Equipment: 2.3% | ||||||||
| AudioCodes Ltd. (USD) † | 8,103 | 263,672 | ||||||
| BATM Advanced Communications Ltd. (GBP) * † | 84,110 | 102,069 | ||||||
| Ceragon Networks Ltd. (USD) * † | 22,957 | 80,120 | ||||||
| Gilat Satellite Networks Ltd. (USD) | 12,048 | 108,311 | ||||||
| Ituran Location and Control Ltd. (USD) | 4,100 | 104,099 | ||||||
| Nano Dimension Ltd. (ADR) * † | 86,797 | 489,535 | ||||||
| Radware Ltd. (USD) * | 10,761 | 362,861 | ||||||
| Stratasys Ltd. * | 14,278 | 307,262 | ||||||
| 1,817,929 | ||||||||
| Telecommunication Services: 1.4% | ||||||||
| Bezeq The Israeli Telecommunication Corp. Ltd. # * | 726,114 | 853,940 | ||||||
| Cellcom Israel Ltd. # * | 20,786 | 72,185 | ||||||
| Partner Communications Co. Ltd. # * | 27,837 | 128,942 | ||||||
| 1,055,067 | ||||||||
| Utilities: 2.3% | ||||||||
| Energix-Renewable Energies Ltd. # | 71,538 | 301,521 | ||||||
| Enlight Renewable Energy Ltd. # * | 229,507 | 496,112 | ||||||
| Kenon Holdings Ltd. # | 5,358 | 220,742 | ||||||
| OPC Energy Ltd. # * | 20,042 | 182,626 | ||||||
| Ormat Technologies, Inc. † | 9,448 | 629,331 | ||||||
| 1,830,332 | ||||||||
| Total Common Stocks (Cost: $51,162,441) | 77,878,957 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.8% (Cost: $628,751) | ||||||||
| Money Market Fund: 0.8% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 628,751 | 628,751 | ||||||
| Total Investments: 100.7% (Cost: $51,791,192) | 78,507,708 | |||||||
| Liabilities in excess of other assets: (0.7)% | (518,398 | ) | ||||||
| NET ASSETS: 100.0% | $ | 77,989,310 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| GBP | British Pound |
| USD | United States Dollar |
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $29,584,812 which represents 37.9% of net assets. |
| * | Non-income producing |
| † | Security fully or partially on loan. Total market value of securities on loan is $8,627,617. |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Communication Services | 4.5 | % | $ | 3,456,532 | ||||
| Consumer Discretionary | 4.8 | 3,729,868 | ||||||
| Consumer Staples | 1.3 | 991,792 | ||||||
| Energy | 1.1 | 886,836 | ||||||
| Financials | 20.4 | 15,881,423 | ||||||
| Health Care | 10.4 | 8,105,727 | ||||||
| Industrials | 6.3 | 4,910,529 | ||||||
| Information Technology | 39.3 | 30,681,377 | ||||||
| Materials | 2.3 | 1,813,516 | ||||||
| Real Estate | 7.2 | 5,591,025 | ||||||
| Utilities | 2.4 | 1,830,332 | ||||||
| 100.0 | % | $ | 77,878,957 | |||||
VANECK RUSSIA ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 97.9% | ||||||||
| Banks: 13.9% | ||||||||
| Sberbank of Russia PJSC (ADR) # | 6,557,085 | $ | 122,247,296 | |||||
| TCS Group Holding Plc (USD) (GDR) # | 726,885 | 66,096,729 | ||||||
| VTB Bank PJSC (USD) (GDR) # | 14,235,334 | 19,526,437 | ||||||
| 207,870,462 | ||||||||
| Diversified Financials: 1.9% | ||||||||
| Moscow Exchange MICEX-RTS PJSC # | 12,084,722 | 28,783,481 | ||||||
| Energy: 37.0% | ||||||||
| Gazprom PJSC (ADR) # | 13,286,727 | 131,319,805 | ||||||
| Lukoil PJSC (ADR) # | 1,195,632 | 113,554,303 | ||||||
| Novatek PJSC (USD) (GDR) # | 365,710 | 95,751,940 | ||||||
| Rosneft Oil Co. PJSC (USD) (GDR) # | 9,787,401 | 81,972,850 | ||||||
| Surgutneftegas PJSC (ADR) # † | 8,174,988 | 40,949,741 | ||||||
| Tatneft PJSC (ADR) # † | 2,052,067 | 89,084,226 | ||||||
| 552,632,865 | ||||||||
| Food & Staples Retailing: 5.8% | ||||||||
| Magnit PJSC (USD) (GDR) # | 3,171,167 | 53,468,466 | ||||||
| X5 Retail Group NV (USD) (GDR) # | 1,019,071 | 32,914,259 | ||||||
| 86,382,725 | ||||||||
| Materials: 24.2% | ||||||||
| Alrosa PJSC # | 22,919,860 | 41,771,635 | ||||||
| Evraz Plc (GBP) # | 4,940,021 | 39,221,761 | ||||||
| MMC Norilsk Nickel PJSC (ADR) # | 2,690,409 | 79,918,319 | ||||||
| Novolipetsk Steel PJSC (USD) (GDR) # | 1,152,746 | 33,987,938 | ||||||
| PhosAgro PJSC (USD) (GDR) | 1,102,446 | 24,562,497 | ||||||
| Polymetal International Plc (GBP) # | 3,297,761 | 55,759,274 | ||||||
| Polyus PJSC (USD) (GDR) # | 597,822 | 48,850,300 | ||||||
| Severstal PAO (USD) (GDR) # | 1,763,561 | 36,831,919 | ||||||
| 360,903,643 | ||||||||
| Media & Entertainment: 6.2% | ||||||||
| Mail.Ru Group Ltd. (USD) (GDR) # * | 1,210,466 | 24,837,129 | ||||||
| Yandex NV (USD) * † | 846,027 | 67,419,892 | ||||||
| 92,257,021 | ||||||||
| Retailing: 3.2% | ||||||||
| Ozon Holdings Plc (ADR) * | 935,485 | 47,195,218 | ||||||
| Telecommunication Services: 4.3% | ||||||||
| Mobile TeleSystems PJSC (ADR) | 3,840,503 | 37,022,449 | ||||||
| Rostelecom PJSC # | 9,615,789 | 11,911,173 | ||||||
| VEON Ltd. (ADR) * | 7,044,287 | 14,652,117 | ||||||
| 63,585,739 | ||||||||
| Utilities: 1.4% | ||||||||
| Inter RAO UES PJSC # | 324,893,710 | 20,700,624 | ||||||
| Irkutsk Electronetwork Co. JSC (USD) *¥ | 7,410,870 | 7 | ||||||
| 20,700,631 | ||||||||
| Total Common Stocks (Cost: $1,320,564,088) | 1,460,311,785 | |||||||
| PREFERRED SECURITIES: 2.1% (Cost: $34,558,567) | ||||||||
| Energy: 2.1% | ||||||||
| Transneft PJSC 5.78% # | 14,252 | 31,268,972 | ||||||
| Total Investments Before Collateral for Securities Loaned: 100.0% (Cost: $1,355,122,655) | 1,491,580,757 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.0% (Cost: $194,570) | ||||||||
| Money Market Fund: 0.0% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 194,570 | 194,570 | ||||||
| Total Investments: 100.0% (Cost: $1,355,317,225) | 1,491,775,327 | |||||||
| Other assets less liabilities: 0.0% | 655,158 | |||||||
| NET ASSETS: 100.0% | $ | 1,492,430,485 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| GBP | British Pound |
| GDR | Global Depositary Receipt |
| USD | United States Dollar |
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $1,300,728,577 which represents 87.2% of net assets. |
| † | Security fully or partially on loan. Total market value of securities on loan is $35,292,034. |
| * | Non-income producing |
| ¥ | Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Communication Services | 10.5 | % | $ | 155,842,760 | ||||
| Consumer Discretionary | 3.2 | 47,195,218 | ||||||
| Consumer Staples | 5.8 | 86,382,725 | ||||||
| Energy | 39.1 | 583,901,837 | ||||||
| Financials | 15.8 | 236,653,943 | ||||||
| Materials | 24.2 | 360,903,643 | ||||||
| Utilities | 1.4 | 20,700,631 | ||||||
| 100.0 | % | $ | 1,491,580,757 | |||||
VANECK RUSSIA SMALL-CAP ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 98.9% | ||||||||
| Banks: 7.4% | ||||||||
| Credit Bank of Moscow PJSC # * | 23,653,000 | $ | 2,325,390 | |||||
| Commercial & Professional Services: 4.2% | ||||||||
| HeadHunter Group Plc (ADR) | 26,813 | 1,308,474 | ||||||
| Diversified Financials: 0.2% | ||||||||
| Safmar Financial Investment * | 9,663 | 57,485 | ||||||
| Energy: 4.1% | ||||||||
| Sovcomflot PJSC # | 1,120,450 | 1,296,677 | ||||||
| Food & Staples Retailing: 2.8% | ||||||||
| Lenta Plc (GDR) # * | 292,808 | 870,893 | ||||||
| Food, Beverage & Tobacco: 6.0% | ||||||||
| Beluga Group PJSC | 13,051 | 589,209 | ||||||
| Ros Agro Plc (GDR) # | 88,361 | 1,309,711 | ||||||
| 1,898,920 | ||||||||
| Materials: 19.3% | ||||||||
| Eurasia Mining Plc # * † | 3,206,872 | 1,082,666 | ||||||
| Mechel PJSC # * | 492,854 | 1,019,220 | ||||||
| Petropavlovsk Plc (GBP) * † | 5,191,777 | 1,436,469 | ||||||
| Raspadskaya OJSC # | 169,215 | 942,890 | ||||||
| Segezha Group PJSC 144A * | 13,062,500 | 1,577,155 | ||||||
| 6,058,400 | ||||||||
| Real Estate: 12.1% | ||||||||
| Etalon Group Plc (USD) (GDR) # | 443,432 | 690,643 | ||||||
| LSR Group PJSC # | 130,496 | 1,353,595 | ||||||
| Samolet Group | 25,634 | 1,757,418 | ||||||
| 3,801,656 | ||||||||
| Retailing: 9.7% | ||||||||
| Detsky Mir PJSC 144A # | 1,144,298 | 2,046,501 | ||||||
| M.Video PJSC # | 124,720 | 1,004,882 | ||||||
| 3,051,383 | ||||||||
| Telecommunication Services: 7.4% | ||||||||
| Sistema PJSFC (USD) (GDR) # | 314,963 | 2,316,835 | ||||||
| Transportation: 16.7% | ||||||||
| Aeroflot PJSC # * | 2,825,412 | 2,707,065 | ||||||
| Globaltrans Investment Plc (USD) (GDR) # | 180,843 | 1,455,187 | ||||||
| Novorossiysk Commercial Sea Port PJSC | 10,075,800 | 1,069,390 | ||||||
| 5,231,642 | ||||||||
| Utilities: 9.0% | ||||||||
| Mosenergo PJSC | 21,889,800 | 718,332 | ||||||
| OGK-2 PJSC # | 82,104,600 | 773,279 | ||||||
| TGC-1 PJSC # | 1,910,300,000 | 282,195 | ||||||
| Unipro PJSC # | 27,776,000 | 1,042,085 | ||||||
| 2,815,891 | ||||||||
| Total Common Stocks (Cost: $28,082,940) | 31,033,646 | |||||||
| PREFERRED SECURITIES: 1.4% (Cost: $387,089) | ||||||||
| Utilities: 1.4% | ||||||||
| Rosseti Lenenergo PJSC 9.08% # | 192,596 | 441,362 | ||||||
| Total Investments Before Collateral for Securities Loaned: 100.3% (Cost: $28,470,029) | 31,475,008 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.3% (Cost: $88,009) | ||||||||
| Money Market Fund: 0.3% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 88,009 | 88,009 | ||||||
| Total Investments: 100.6% (Cost: $28,558,038) | 31,563,017 | |||||||
| Liabilities in excess of other assets: (0.6)% | (186,968 | ) | ||||||
| NET ASSETS: 100.0% | $ | 31,376,049 | ||||||
| Definitions: | |
| ADR | American Depositary Receipt |
| GBP | British Pound |
| GDR | Global Depositary Receipt |
| USD | United States Dollar |
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $22,961,076 which represents 73.2% of net assets. |
| * | Non-income producing |
| † | Security fully or partially on loan. Total market value of securities on loan is $2,041,401. |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $3,623,656, or 11.5% of net assets. |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Communication Services | 7.4 | % | $ | 2,316,835 | ||||
| Consumer Discretionary | 9.7 | 3,051,383 | ||||||
| Consumer Staples | 8.8 | 2,769,813 | ||||||
| Energy | 4.1 | 1,296,677 | ||||||
| Financials | 7.6 | 2,382,875 | ||||||
| Industrials | 20.8 | 6,540,116 | ||||||
| Materials | 19.2 | 6,058,400 | ||||||
| Real Estate | 12.1 | 3,801,656 | ||||||
| Utilities | 10.3 | 3,257,253 | ||||||
| 100.0 | % | $ | 31,475,008 | |||||
VANECK VIETNAM ETF
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS: 98.5% | ||||||||
| Banks: 5.4% | ||||||||
| Bank for Foreign Trade of Vietnam JSC # | 5,889,332 | $ | 25,157,263 | |||||
| Saigon Thuong Tin Commercial JSB # * | 4,009,600 | 4,510,549 | ||||||
| 29,667,812 | ||||||||
| Capital Goods: 7.1% | ||||||||
| Development Investment Construction JSC # * | 3,238,500 | 4,381,625 | ||||||
| Gelex Group JSC # * | 4,589,680 | 4,626,390 | ||||||
| Hoang Huy Investment Financial Services JSC # | 818,564 | 642,012 | ||||||
| JAKS Resources Bhd # * | 27,565,500 | 3,082,990 | ||||||
| Thaiholdings JSC * | 2,601,000 | 26,055,712 | ||||||
| 38,788,729 | ||||||||
| Consumer Durables & Apparel: 12.6% | ||||||||
| Eclat Textile Co. Ltd. # | 1,230,160 | 26,662,514 | ||||||
| Feng TAY Enterprise Co. Ltd. # | 3,237,000 | 24,877,872 | ||||||
| Hansae Co. Ltd. # † | 254,064 | 4,916,356 | ||||||
| Taiwan Paiho Ltd. # | 4,353,000 | 12,613,222 | ||||||
| 69,069,964 | ||||||||
| Diversified Financials: 5.4% | ||||||||
| Sai Gon-Ha Noi Securities JSC # | 1,382,300 | 2,191,332 | ||||||
| SSI Securities Corp. # | 7,918,053 | 14,036,127 | ||||||
| Viet Capital Securities JSC # | 3,489,900 | 9,084,546 | ||||||
| VNDirect Securities Corp. # | 1,975,600 | 4,395,197 | ||||||
| 29,707,202 | ||||||||
| Energy: 0.7% | ||||||||
| PetroVietnam Technical Services Corp. # | 3,187,600 | 3,961,221 | ||||||
| Food, Beverage & Tobacco: 20.1% | ||||||||
| CP Pokphand Co. Ltd. # | 80,128,000 | 9,881,354 | ||||||
| Hoang Anh Gia Lai International Agriculture JSC * | 8,273,300 | 2,624,483 | ||||||
| KIDO Group Corp. # | 2,070,400 | 5,297,615 | ||||||
| Masan Group Corp. # | 6,398,630 | 40,040,243 | ||||||
| Saigon Beer Alcohol Beverage Corp. | 1,018,300 | 6,997,457 | ||||||
| Thanh Thanh Cong - Bien Hoa JSC # | 4,605,981 | 4,251,946 | ||||||
| Vietnam Dairy Products JSC # | 10,328,141 | 40,567,550 | ||||||
| 109,660,648 | ||||||||
| Health Care Equipment & Services: 3.5% | ||||||||
| Mani, Inc. # † | 1,016,800 | 19,347,352 | ||||||
| Insurance: 0.7% | ||||||||
| Bao Viet Holdings # | 1,532,396 | 3,921,500 | ||||||
| Materials: 9.3% | ||||||||
| An Phat Holdings JSC # * | 2,106,700 | 3,746,040 | ||||||
| Duc Giang Chemicals JSC | 438,000 | 2,903,963 | ||||||
| Hoa Phat Group JSC # | 14,737,152 | 34,075,064 | ||||||
| Hoa Sen Group # * | 2,951,100 | 5,999,201 | ||||||
| Petrovietnam Fertilizer & Chemicals JSC | 2,361,300 | 3,817,919 | ||||||
| 50,542,187 | ||||||||
| Real Estate: 25.3% | ||||||||
| Kinh Bac City Development Share Holding Corp. # * | 2,312,400 | 4,403,319 | ||||||
| No Va Land Investment Group Corp. * | 6,663,600 | 29,863,234 | ||||||
| Phat Dat Real Estate Development Corp. * | 2,937,200 | 10,556,369 | ||||||
| Vincom Retail JSC # * | 7,216,422 | 9,208,490 | ||||||
| Vingroup JSC # * | 10,956,749 | 42,323,537 | ||||||
| Vinhomes JSC 144A # | 12,144,867 | 41,777,779 | ||||||
| 138,132,728 | ||||||||
| Technology Hardware & Equipment: 6.6% | ||||||||
| BH Co. Ltd. # † | 374,505 | 5,731,703 | ||||||
| Dreamtech Co. Ltd. # | 435,453 | 3,773,389 | ||||||
| INTOPS Co. Ltd. # | 155,678 | 3,326,884 | ||||||
| KH Vatec Co. Ltd. # * † | 289,457 | 5,691,404 | ||||||
| MCNEX Co. Ltd. # † | 205,304 | 6,849,968 | ||||||
| Seojin System Co. Ltd. # * † | 202,893 | 6,099,438 | ||||||
| Synopex, Inc. # * | 1,081,614 | 2,731,585 | ||||||
| UTI, Inc. # | 193,012 | 1,929,335 | ||||||
| 36,133,706 | ||||||||
| Transportation: 1.1% | ||||||||
| Vietjet Aviation JSC # * | 1,032,040 | 5,794,807 | ||||||
| Utilities: 0.7% | ||||||||
| PetroVietnam Power Corp. # | 7,437,310 | 3,888,049 | ||||||
| Total Common Stocks (Cost: $394,228,304) | 538,615,905 | |||||||
| RIGHTS: 0.4% | ||||||||
| Capital Goods: 0.1% | ||||||||
| Hoang Huy Investment Financial Services JSC VNK 10,000.00, expiring 10/07/21 # * | 3,433,680 | 380,933 | ||||||
| Diversified Financials: 0.3% | ||||||||
| SSI Securities Corp. VND 12,000.00, expiring 10/07/21 # * | 8,515,315 | 1,911,207 | ||||||
| Total Rights (Cost: $0) | 2,292,140 | |||||||
| EXCHANGE TRADED FUND: 0.0% (Cost: $42,157) | ||||||||
| DCVFMVN Diamond ETF # | 62,610 | 72,057 | ||||||
| Total Investments: 98.9% (Cost: $394,270,461) | 540,980,102 | |||||||
| Other assets less liabilities: 1.1% | 5,950,607 | |||||||
| NET ASSETS: 100.0% | $ | 546,930,709 | ||||||
| Definitions: | |
| Footnotes: | |
| # | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $458,160,965 which represents 83.8% of net assets. |
| * | Non-income producing |
| † | Security fully or partially on loan. Total market value of securities on loan is $16,089,950. |
| 144A | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted $41,777,779, or 7.6% of net assets. |
| Summary of Investments by Sector | % of Investments | Value | ||||||
| Consumer Discretionary | 12.8 | % | $ | 69,069,964 | ||||
| Consumer Staples | 20.3 | 109,660,648 | ||||||
| Energy | 0.7 | 3,961,221 | ||||||
| Exchange Traded Fund | 0.0 | 72,057 | ||||||
| Financials | 12.1 | 65,207,721 | ||||||
| Health Care | 3.6 | 19,347,352 | ||||||
| Industrials | 8.3 | 44,964,470 | ||||||
| Information Technology | 6.7 | 36,133,706 | ||||||
| Materials | 9.3 | 50,542,186 | ||||||
| Real Estate | 25.5 | 138,132,728 | ||||||
| Utilities | 0.7 | 3,888,049 | ||||||
| 100.0 | % | $ | 540,980,102 | |||||