VANECK FALLEN ANGEL HIGH YIELD BOND ETF
SCHEDULE OF INVESTMENTS
July 31, 2022 (unaudited)
Par (000’s | ) | Value | ||||||
CORPORATE BONDS: 98.1% | ||||||||
Australia: 1.5% | ||||||||
Buckeye Partners LP | ||||||||
3.95%, 12/01/26 | $ | 16,884 | $ | 15,743,317 | ||||
4.12%, 12/01/27 | 11,278 | 10,337,753 | ||||||
4.35%, 10/15/24 | 8,459 | 8,320,865 | ||||||
5.60%, 10/15/44 | 8,380 | 6,215,907 | ||||||
5.85%, 11/15/43 | 11,165 | 8,174,008 | ||||||
48,791,850 | ||||||||
Canada: 1.6% | ||||||||
Bombardier, Inc. 144A 7.45%, 05/01/34 | 14,227 | 12,377,490 | ||||||
Methanex Corp. | ||||||||
4.25%, 12/01/24 | 8,452 | 8,155,420 | ||||||
5.25%, 12/15/29 † | 19,694 | 17,410,973 | ||||||
5.65%, 12/01/44 | 8,385 | 6,162,975 | ||||||
TransAlta Corp. 6.50%, 03/15/40 | 8,989 | 8,633,305 | ||||||
52,740,163 | ||||||||
Finland: 0.5% | ||||||||
Nokia Oyj 6.62%, 05/15/39 | 13,988 | 14,436,245 | ||||||
France: 1.3% | ||||||||
Electricite de France SA 144A 5.62% (USD Swap Semi 30/360 10 Year+3.04%), 01/22/24 (o) | 42,865 | 40,634,734 | ||||||
Germany: 2.2% | ||||||||
Deutsche Bank AG 4.50%, 04/01/25 | 42,167 | 41,037,909 | ||||||
Dresdner Funding Trust I 144A 8.15%, 06/30/31 | 27,914 | 30,691,443 | ||||||
71,729,352 | ||||||||
Ireland: 2.0% | ||||||||
Perrigo Finance Unlimited Co. | ||||||||
3.90%, 12/15/24 | 19,705 | 19,484,994 | ||||||
4.38%, 03/15/26 | 19,439 | 19,153,344 | ||||||
4.40%, 06/15/30 | 20,935 | 19,258,211 | ||||||
4.90%, 12/15/44 | 8,529 | 6,719,182 | ||||||
64,615,731 | ||||||||
Italy: 4.5% | ||||||||
Intesa Sanpaolo SpA 144A 5.02%, 06/26/24 | 56,222 | 54,475,932 | ||||||
Telecom Italia Capital SA | ||||||||
6.00%, 09/30/34 † | 27,894 | 22,043,023 | ||||||
6.38%, 11/15/33 | 28,103 | 23,503,101 | ||||||
7.20%, 07/18/36 | 27,868 | 23,193,143 | ||||||
7.72%, 06/04/38 | 28,017 | 23,329,056 | ||||||
146,544,255 | ||||||||
United Kingdom: 3.6% | ||||||||
Marks & Spencer Plc 144A 7.12%, 12/01/37 | 8,429 | 8,116,703 | ||||||
Rolls-Royce Plc 144A 3.62%, 10/14/25 | 28,499 | 27,022,182 | ||||||
Standard Chartered Plc 144A |
Par (000’s | ) | Value | ||||||
United Kingdom (continued) | ||||||||
7.01% (ICE LIBOR USD 3 Month+1.46%), 07/30/37 (o) | $ | 21,000 | $ | 22,087,571 | ||||
Vodafone Group Plc 7.00% (USD Swap Semi 30/360 5 Year+4.87%), 04/04/79 | 56,879 | 59,931,980 | ||||||
117,158,436 | ||||||||
United States: 80.9% | ||||||||
Apache Corp. | ||||||||
4.25%, 01/15/30 † | 16,321 | 15,754,824 | ||||||
4.38%, 10/15/28 † | 9,154 | 8,549,882 | ||||||
4.75%, 04/15/43 | 12,047 | 9,882,154 | ||||||
5.10%, 09/01/40 | 37,165 | 33,139,473 | ||||||
5.25%, 02/01/42 | 11,146 | 9,760,320 | ||||||
5.35%, 07/01/49 | 10,799 | 9,028,612 | ||||||
6.00%, 01/15/37 | 12,367 | 11,902,548 | ||||||
Bath & Body Works, Inc. 6.95%, 03/01/33 † | 9,766 | 8,194,003 | ||||||
Bed Bath & Beyond, Inc. | ||||||||
3.75%, 08/01/24 | 8,258 | 3,416,747 | ||||||
5.17%, 08/01/44 | 19,575 | 3,474,954 | ||||||
Brightsphere Investment Group, Inc. 4.80%, 07/27/26 | 8,396 | 7,764,789 | ||||||
Brinker International, Inc. 144A 5.00%, 10/01/24 | 10,292 | 9,840,850 | ||||||
Cleveland-Cliffs, Inc. 6.25%, 10/01/40 | 7,375 | 6,390,659 | ||||||
Crown Cork & Seal Co., Inc. 7.38%, 12/15/26 | 10,494 | 11,347,372 | ||||||
DCP Midstream Operating LP | ||||||||
5.60%, 04/01/44 | 11,243 | 9,744,522 | ||||||
8.12%, 08/16/30 | 8,439 | 9,192,694 | ||||||
DCP Midstream Operating LP 144A | ||||||||
6.45%, 11/03/36 | 8,448 | 8,469,247 | ||||||
6.75%, 09/15/37 | 12,637 | 12,528,132 | ||||||
Delta Air Lines, Inc. | ||||||||
2.90%, 10/28/24 | 25,295 | 24,091,843 | ||||||
3.75%, 10/28/29 † | 13,333 | 11,607,006 | ||||||
4.38%, 04/19/28 † | 11,532 | 10,804,042 | ||||||
Diversified Healthcare Trust | ||||||||
4.75%, 05/01/24 | 7,198 | 6,586,940 | ||||||
4.75%, 02/15/28 † | 14,246 | 10,750,007 | ||||||
DPL, Inc. 4.35%, 04/15/29 | 11,644 | 10,729,588 | ||||||
Embarq Corp. 8.00%, 06/01/36 | 40,424 | 33,361,927 | ||||||
EnLink Midstream Partners LP | ||||||||
4.15%, 06/01/25 | 20,157 | 19,839,527 | ||||||
4.40%, 04/01/24 | 14,262 | 14,304,144 | ||||||
5.05%, 04/01/45 | 12,306 | 9,090,319 | ||||||
5.45%, 06/01/47 | 13,845 | 10,570,992 | ||||||
5.60%, 04/01/44 | 9,750 | 7,614,096 |
1 |
VANECK FALLEN ANGEL HIGH YIELD BOND ETF
SCHEDULE OF INVESTMENTS
(unaudited) (continued)
Par (000’s | ) | Value | ||||||
United States (continued) | ||||||||
EQM Midstream Partners LP | ||||||||
4.00%, 08/01/24 | $ | 8,461 | $ | 8,259,924 | ||||
4.12%, 12/01/26 | 14,072 | 12,994,366 | ||||||
4.75%, 07/15/23 | 300 | 297,219 | ||||||
5.50%, 07/15/28 | 23,907 | 22,652,600 | ||||||
6.50%, 07/15/48 | 15,333 | 12,902,413 | ||||||
FirstEnergy Corp. | ||||||||
1.60%, 01/15/26 | 8,460 | 7,777,405 | ||||||
2.05%, 03/01/25 | 8,471 | 8,046,222 | ||||||
2.25%, 09/01/30 † | 12,672 | 10,757,071 | ||||||
2.65%, 03/01/30 | 16,891 | 14,889,332 | ||||||
3.40%, 03/01/50 | 23,912 | 17,900,284 | ||||||
4.40%, 07/15/27 | 42,181 | 41,403,182 | ||||||
5.35%, 07/15/47 | 20,074 | 18,010,995 | ||||||
7.38%, 11/15/31 | 22,074 | 25,783,756 | ||||||
Fluor Corp. | ||||||||
3.50%, 12/15/24 † | 10,804 | 10,492,376 | ||||||
4.25%, 09/15/28 † | 16,802 | 15,451,239 | ||||||
Ford Holdings LLC 9.30%, 03/01/30 | 5,056 | 5,722,052 | ||||||
Ford Motor Co. | ||||||||
4.35%, 12/08/26 † | 25,744 | 25,334,829 | ||||||
4.75%, 01/15/43 | 34,341 | 28,352,101 | ||||||
5.29%, 12/08/46 | 22,289 | 19,231,172 | ||||||
6.62%, 10/01/28 † | 7,702 | 8,112,902 | ||||||
7.40%, 11/01/46 | 6,801 | 6,928,893 | ||||||
7.45%, 07/16/31 † | 18,338 | 20,029,956 | ||||||
Ford Motor Credit Co. LLC | ||||||||
3.66%, 09/08/24 | 12,896 | 12,512,135 | ||||||
3.81%, 01/09/24 | 12,891 | 12,745,302 | ||||||
3.81%, 11/02/27 | 12,868 | 11,813,081 | ||||||
4.06%, 11/01/24 | 25,746 | 25,360,840 | ||||||
4.13%, 08/04/25 | 24,048 | 23,756,418 | ||||||
4.27%, 01/09/27 | 15,459 | 14,835,770 | ||||||
4.38%, 08/06/23 | 9,385 | 9,414,938 | ||||||
4.39%, 01/08/26 | 20,609 | 20,090,486 | ||||||
4.54%, 08/01/26 | 12,881 | 12,546,416 | ||||||
4.69%, 06/09/25 | 10,322 | 10,259,191 | ||||||
5.11%, 05/03/29 † | 25,542 | 24,867,563 | ||||||
5.58%, 03/18/24 | 25,744 | 26,020,877 | ||||||
Frontier Florida LLC 6.86%, 02/01/28 | 8,444 | 8,043,319 | ||||||
Genting New York LLC / GENNY Capital, Inc. 144A 3.30%, 02/15/26 | 15,240 | 13,877,898 | ||||||
Genworth Holdings, Inc. 6.50%, 06/15/34 | 8,346 | 7,231,559 | ||||||
Global Marine, Inc. 7.00%, 06/01/28 | 7,356 | 3,523,944 | ||||||
HB Fuller Co. 4.00%, 02/15/27 | 8,402 | 7,837,638 | ||||||
Hexcel Corp. | ||||||||
4.20%, 02/15/27 | 11,248 | 10,920,105 | ||||||
4.95%, 08/15/25 | 8,476 | 8,401,542 | ||||||
Hillenbrand, Inc. 5.00%, 09/15/26 | 11,224 | 10,928,977 | ||||||
Howmet Aerospace, Inc. 5.90%, 02/01/27 | 17,602 | 18,325,266 |
Par (000’s | ) | Value | ||||||
United States (continued) | ||||||||
5.95%, 02/01/37 | $ | 17,434 | $ | 17,321,969 | ||||
6.75%, 01/15/28 | 8,466 | 8,931,418 | ||||||
Las Vegas Sands Corp. | ||||||||
2.90%, 06/25/25 | 14,075 | 13,204,650 | ||||||
3.20%, 08/08/24 | 49,225 | 47,836,549 | ||||||
3.50%, 08/18/26 | 28,125 | 26,305,357 | ||||||
3.90%, 08/08/29 † | 21,100 | 18,871,590 | ||||||
Lumen Technologies, Inc. | ||||||||
6.88%, 01/15/28 † | 11,864 | 10,934,159 | ||||||
7.60%, 09/15/39 | 14,616 | 11,824,344 | ||||||
Macy’s Retail Holdings LLC | ||||||||
4.30%, 02/15/43 | 7,035 | 4,371,971 | ||||||
4.50%, 12/15/34 † | 10,317 | 7,494,888 | ||||||
5.12%, 01/15/42 | 7,031 | 4,814,829 | ||||||
Mattel, Inc. | ||||||||
5.45%, 11/01/41 | 8,381 | 7,653,121 | ||||||
6.20%, 10/01/40 † | 6,985 | 6,873,659 | ||||||
Murphy Oil Corp. | ||||||||
6.12%, 12/01/42 † | 9,732 | 7,653,731 | ||||||
7.05%, 05/01/29 | 6,962 | 6,806,704 | ||||||
Navient Corp. 5.62%, 08/01/33 † | 16,642 | 12,936,382 | ||||||
Newell Brands, Inc. | ||||||||
4.45%, 04/01/26 | 55,825 | 55,203,109 | ||||||
5.62%, 04/01/36 | 11,836 | 10,921,136 | ||||||
5.75%, 04/01/46 | 18,606 | 15,961,064 | ||||||
Nordstrom, Inc. | ||||||||
2.30%, 04/08/24 | 6,905 | 6,553,190 | ||||||
4.00%, 03/15/27 † | 9,876 | 9,058,569 | ||||||
4.25%, 08/01/31 | 11,785 | 9,561,229 | ||||||
4.38%, 04/01/30 † | 14,080 | 11,834,144 | ||||||
5.00%, 01/15/44 † | 26,934 | 19,799,748 | ||||||
6.95%, 03/15/28 † | 8,347 | 8,315,805 | ||||||
Occidental Petroleum Corp. | ||||||||
0.00%, 10/10/36 ^ | 31,998 | 16,374,976 | ||||||
2.90%, 08/15/24 | 18,506 | 18,367,205 | ||||||
3.40%, 04/15/26 | 8,588 | 8,210,755 | ||||||
3.50%, 08/15/29 † | 8,085 | 7,612,149 | ||||||
4.10%, 02/15/47 | 2,245 | 1,821,666 | ||||||
4.20%, 03/15/48 | 8,567 | 7,001,922 | ||||||
4.30%, 08/15/39 | 7,332 | 6,267,316 | ||||||
4.40%, 04/15/46 | 11,838 | 10,076,478 | ||||||
4.40%, 08/15/49 | 7,983 | 6,674,377 | ||||||
4.62%, 06/15/45 | 8,617 | 7,360,381 | ||||||
5.55%, 03/15/26 | 30,409 | 31,284,323 | ||||||
6.20%, 03/15/40 | 20,584 | 21,109,450 | ||||||
6.45%, 09/15/36 | 48,761 | 54,289,766 | ||||||
6.60%, 03/15/46 | 30,912 | 34,195,936 | ||||||
6.95%, 07/01/24 | 16,408 | 17,238,983 | ||||||
7.50%, 05/01/31 | 24,239 | 28,159,416 | ||||||
7.88%, 09/15/31 | 13,646 | 15,835,569 | ||||||
7.95%, 06/15/39 † | 8,976 | 10,308,063 | ||||||
Oceaneering International, Inc. | ||||||||
4.65%, 11/15/24 | 11,249 | 10,593,746 | ||||||
6.00%, 02/01/28 | 8,450 | 7,348,535 | ||||||
Ohio National Financial Services, Inc. 144A |
2 |
Par (000’s | ) | Value | ||||||
United States (continued) | ||||||||
6.05%, 01/24/30 | $ | 12,100 | $ | 11,874,335 | ||||
6.62%, 05/01/31 | 7,175 | 7,394,167 | ||||||
Pactiv LLC 7.95%, 12/15/25 | 7,855 | 7,010,587 | ||||||
Patterson-UTI Energy, Inc. | ||||||||
3.95%, 02/01/28 † | 14,264 | 12,240,921 | ||||||
5.15%, 11/15/29 | 9,828 | 8,829,605 | ||||||
ProAssurance Corp. 5.30%, 11/15/23 | 7,678 | 7,753,858 | ||||||
Qwest Corp. 7.25%, 09/15/25 | 6,980 | 7,318,914 | ||||||
Resorts World Las Vegas LLC / RWLV Capital, Inc. Reg S | ||||||||
4.62%, 04/16/29 | 28,380 | 23,110,410 | ||||||
4.62%, 04/06/31 | 10,125 | 8,080,168 | ||||||
Rockies Express Pipeline LLC 144A | ||||||||
3.60%, 05/15/25 | 11,273 | 10,468,671 | ||||||
4.80%, 05/15/30 | 9,857 | 8,295,060 | ||||||
4.95%, 07/15/29 | 15,357 | 13,515,310 | ||||||
6.88%, 04/15/40 | 13,972 | 11,861,529 | ||||||
7.50%, 07/15/38 | 6,986 | 6,291,731 | ||||||
Royal Caribbean Cruises Ltd. | ||||||||
3.70%, 03/15/28 † | 13,952 | 9,695,845 | ||||||
7.50%, 10/15/27 † | 8,485 | 6,756,945 | ||||||
Royal Caribbean Cruises Ltd. 144A 11.50%, 06/01/25 | 39,140 | 41,981,760 | ||||||
Safeway, Inc. 7.25%, 02/01/31 | 7,331 | 7,216,893 | ||||||
Seagate HDD Cayman | ||||||||
4.09%, 06/01/29 | 14,074 | 12,811,562 | ||||||
4.12%, 01/15/31 | 14,089 | 12,299,697 | ||||||
4.75%, 01/01/25 | 13,479 | 13,394,428 | ||||||
4.88%, 03/01/24 | 14,061 | 14,007,843 | ||||||
4.88%, 06/01/27 † | 14,209 | 14,140,086 | ||||||
5.75%, 12/01/34 | 13,591 | 12,268,974 | ||||||
Sealed Air Corp. 144A 6.88%, 07/15/33 | 12,837 | 13,752,663 | ||||||
Service Properties Trust | ||||||||
3.95%, 01/15/28 † | 11,243 | 8,352,036 | ||||||
4.35%, 10/01/24 † | 23,100 | 20,732,250 | ||||||
4.38%, 02/15/30 † | 11,280 | 8,283,518 | ||||||
4.50%, 03/15/25 | 9,865 | 8,401,452 | ||||||
4.65%, 03/15/24 | 9,858 | 8,992,418 | ||||||
4.75%, 10/01/26 | 12,663 | 9,947,673 | ||||||
4.95%, 02/15/27 † | 11,292 | 9,327,644 | ||||||
4.95%, 10/01/29 † | 11,879 | 8,866,664 | ||||||
5.25%, 02/15/26 | 9,786 | 8,299,933 | ||||||
Southeast Supply Header LLC 144A 4.25%, 06/15/24 | 11,812 | 10,130,444 | ||||||
Southwestern Energy Co. 5.95%, 01/23/25 | 11,576 | 11,731,697 | ||||||
Spirit AeroSystems, Inc. | ||||||||
3.85%, 06/15/26 | 8,462 | 7,631,878 | ||||||
4.60%, 06/15/28 † | 19,719 | 16,509,733 | ||||||
Sprint Capital Corp. |
Par (000’s | ) | Value | ||||||
United States (continued) | ||||||||
6.88%, 11/15/28 | $ | 69,819 | $ | 78,466,781 | ||||
8.75%, 03/15/32 | 56,378 | 73,109,581 | ||||||
Steelcase, Inc. 5.12%, 01/18/29 | 13,120 | 12,549,805 | ||||||
Tenet Healthcare Corp. 6.88%, 11/15/31 | 10,158 | 9,815,015 | ||||||
Topaz Solar Farms LLC 144A 5.75%, 09/30/39 | 16,634 | 16,189,095 | ||||||
Transocean, Inc. | ||||||||
6.80%, 03/15/38 | 17,127 | 7,836,544 | ||||||
7.50%, 04/15/31 | 11,092 | 5,185,066 | ||||||
Travel + Leisure Co. | ||||||||
5.65%, 04/01/24 | 8,460 | 8,487,410 | ||||||
6.00%, 04/01/27 | 11,165 | 11,145,573 | ||||||
6.60%, 10/01/25 | 9,861 | 10,044,809 | ||||||
Trinity Industries, Inc. 4.55%, 10/01/24 | 11,930 | 11,731,246 | ||||||
Under Armour, Inc. 3.25%, 06/15/26 | 17,593 | 16,166,056 | ||||||
United States Cellular Corp. 6.70%, 12/15/33 | 15,963 | 15,887,335 | ||||||
United States Steel Corp. 6.65%, 06/01/37 † | 10,618 | 9,162,899 | ||||||
Western Midstream Operating LP | ||||||||
3.35%, 02/01/25 | 20,563 | 20,176,416 | ||||||
3.95%, 06/01/25 | 11,257 | 11,153,661 | ||||||
4.30%, 02/01/30 † | 33,753 | 31,641,244 | ||||||
4.50%, 03/01/28 | 11,108 | 10,735,882 | ||||||
4.65%, 07/01/26 | 13,356 | 13,273,460 | ||||||
4.75%, 08/15/28 | 11,165 | 10,927,130 | ||||||
5.30%, 03/01/48 | 19,534 | 17,155,766 | ||||||
5.45%, 04/01/44 | 16,887 | 15,136,071 | ||||||
5.50%, 08/15/48 | 9,766 | 8,528,909 | ||||||
5.50%, 02/01/50 | 27,873 | 24,995,113 | ||||||
Xerox Corp. | ||||||||
3.80%, 05/15/24 | 8,478 | 8,275,291 | ||||||
4.80%, 03/01/35 | 7,103 | 5,470,458 | ||||||
6.75%, 12/15/39 | 9,878 | 8,707,062 | ||||||
XPO CNW, Inc. 6.70%, 05/01/34 | 8,479 | 8,051,579 | ||||||
Yum! Brands, Inc. | ||||||||
3.88%, 11/01/23 † | 9,173 | 9,161,580 | ||||||
5.35%, 11/01/43 | 7,717 | 6,602,704 | ||||||
6.88%, 11/15/37 | 9,084 | 9,631,917 | ||||||
2,618,530,854 | ||||||||
Total Corporate Bonds (Cost: $3,623,094,691) | 3,175,181,620 | |||||||
Number of Shares | Value | |||||||
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 4.3% (Cost: $140,578,424) | ||||||||
Money Market Fund: 4.3% |
3 |
VANECK FALLEN ANGEL HIGH YIELD BOND ETF
SCHEDULE OF INVESTMENTS
(unaudited) (continued)
Number of Shares (continued) | Value | |||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 140,578,424 | $ | 140,578,424 |
Number of Shares (continued) | Value | |||||||
Total Investments: 102.4% (Cost: $3,763,673,115) | $ | 3,315,760,044 | ||||||
Liabilities in excess of other assets: (2.4)% | (76,439,166 | ) | ||||||
NET ASSETS: 100.0% | $ | 3,239,320,878 |
Definitions: | |
USD | United States Dollar |
Footnotes: | |
† | Security fully or partially on loan. Total market value of securities on loan is $176,080,924. |
(o) | Perpetual Maturity — the date shown is the next call date |
^ | Zero Coupon Bond |
Reg S | Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. |
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 $391,876,947, or 12.1% of net assets. |
Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
Basic Materials | 2.8 | % | $ | 87,231,185 | ||||
Communications | 0.3 | 8,043,319 | ||||||
Consumer Cyclicals | 19.1 | 606,132,846 | ||||||
Consumer Non-Cyclicals | 0.2 | 7,216,893 | ||||||
Energy | 28.8 | 913,495,478 | ||||||
Financials | 12.8 | 407,470,962 | ||||||
Healthcare | 2.3 | 74,430,746 | ||||||
Industrials | 8.2 | 259,338,792 | ||||||
Real Estate | 3.4 | 108,540,534 | ||||||
Technology | 15.7 | 498,714,991 | ||||||
Utilities | 6.4 | 204,565,874 | ||||||
100.0 | % | $ | 3,175,181,620 |
4 |