VANECK INFLATION ALLOCATION ETF
SCHEDULE OF INVESTMENTS
June 30, 2022 (unaudited)
| Number of Shares | Value | |||||||
| EXCHANGE TRADED FUNDS: 99.7% (a) | ||||||||
| Energy Select Sector SPDR Fund | 109,777 | $ | 7,850,153 | |||||
| Global X US Infrastructure Development ETF † | 152,051 | 3,462,201 | ||||||
| Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2,065,094 | 37,254,295 | ||||||
| iShares Global Infrastructure ETF | 360,222 | 16,840,379 | ||||||
| iShares Gold Strategy ETF | 23,417 | 1,286,221 | ||||||
| iShares Gold Trust | 6,254 | 214,575 | ||||||
| iShares MSCI Global Metals & Mining Producers ETF † | 94,509 | 3,366,411 | ||||||
| Nuveen Short-Term REIT ETF | 48,755 | 1,569,389 | ||||||
| SPDR Gold MiniShares Trust | 5,993 | 215,029 | ||||||
| SPDR S&P Oil & Gas Exploration & Production ETF † | 56,987 | 6,808,807 | ||||||
| VanEck Agribusiness ETF † ‡ | 72,481 | 6,268,157 | ||||||
| VanEck Energy Income ETF † ‡ | 152,011 | 8,760,668 | ||||||
| VanEck Gold Miners ETF ‡ | 250,702 | 6,864,221 | ||||||
| VanEck Junior Gold Miners ETF † ‡ | 85,756 | 2,744,192 | ||||||
| Number of Shares | Value | |||||||
| VanEck Merk Gold Shares | 1,511,834 | $ | 26,502,450 | |||||
| VanEck Oil Services ETF † ‡ | 20,043 | 4,662,002 | ||||||
| VanEck Rare Earth/Strategic Metals ETF † ‡ | 34,679 | 3,010,137 | ||||||
| VanEck Steel ETF † ‡ | 79,771 | 3,946,271 | ||||||
| Vanguard Real Estate ETF | 131,076 | 11,942,334 | ||||||
| Total Exchange Traded Funds (Cost: $165,703,014) | 153,567,892 | |||||||
| SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 5.3% (Cost: $8,152,427) | ||||||||
| Money Market Fund: 5.3% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio | 8,152,427 | 8,152,427 | ||||||
| Total Investments: 105.0% (Cost: $173,855,441) | 161,720,319 | |||||||
| Liabilities in excess of other assets: (5.0)% | (7,866,125) | |||||||
| NET ASSETS: 100.0% | $ | 153,854,194 | ||||||
Footnotes:
| (a) | Each underlying fund’s shareholder reports and registration documents are available free of charge on the SEC’s website at https:// www.sec.gov. |
| † | Security fully or partially on loan. Total market value of securities on loan is $12,546,469. |
| ‡ | Affiliated issuer – as defined under the Investment Company Act of 1940. |
| Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
| Agribusiness | 4.1 | % | $ | 6,268,157 | ||||
| Diversified Commodities Futures | 24.3 | 37,254,296 | ||||||
| Energy | 10.8 | 16,610,821 | ||||||
| Global Metals and Mining | 4.1 | 6,376,548 | ||||||
| Gold Bullion | 20.2 | 30,962,466 | ||||||
| Gold Mining | 4.5 | 6,864,221 | ||||||
| Industrials | 2.2 | 3,462,201 | ||||||
| Oil Services | 7.4 | 11,470,809 | ||||||
| Real Estate Investment Trusts | 8.8 | 13,511,724 | ||||||
| Steel | 2.6 | 3,946,271 | ||||||
| Utilities | 11.0 | 16,840,378 | ||||||
| 100.0 | % | $ | 153,567,892 | |||||
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VANECK INFLATION ALLOCATION ETF
SCHEDULE OF INVESTMENTS
(unaudited) (continued)
A summary of the Funds transactions in securities of affiliates for the period ended June 30, 2022 is set forth below:
| Value 9/30/2021 | Purchases | Sales Proceeds | Realized Gain (Loss) | Dividend Income | Net Change in Unrealized Appreciation (Depreciation) | Value 6/30/2022 | ||||||||
| VanEck Agribusiness ETF | $784,573 | $6,634,253 | $(352,839) | $22,702 | $17,661 | $(820,532) | $6,268,157 | |||||||
| VanEck Energy Income ETF | 980,050 | 8,867,700 | (459,278) | 58,815 | 105,125 | (686,619) | 8,760,668 | |||||||
| VanEck Gold Miners ETF | 687,476 | 8,262,318 | (306,391) | (15,403) | 25,551 | (1,763,779) | 6,864,221 | |||||||
| VanEck Junior Gold Miners ETF | – | 3,932,225 | (124,172) | (7,032) | 10,559 | (1,056,829) | 2,744,192 | |||||||
| VanEck Low Carbon Energy ETF | 398,697 | 1,947,129 | (2,033,897) | (336,478) | 3,493 | 24,549 | – | |||||||
| VanEck Mortgage REIT Income ETF | 189,021 | 1,231,289 | (1,178,692) | (242,187) | 26,834 | 569 | – | |||||||
| VanEck Oil Services ETF | 480,310 | 5,097,966 | (349,789) | 34,112 | 8,069 | (600,597) | 4,662,002 | |||||||
| VanEck Rare Earth/ Strategic Metals ETF | – | 3,396,199 | (49,812) | – | – | (336,250) | 3,010,137 | |||||||
| VanEck Steel ETF | 488,167 | 4,602,827 | (227,249) | 5,483 | 61,126 | (922,957) | 3,946,271 | |||||||
| VanEck Vectors Unconventional Oil & Gas ETF | 667,902 | 194,648 | (951,584) | 249,119 | – | (160,085) | – | |||||||
| $4,676,196 | $44,166,554 | $(6,033,703) | $(230,869) | $258,418 | $(6,322,530) | $36,255,648 |
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