VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
July
31,
2024
(unaudited)
1
Par
(000's)
Value
MUNICIPAL
BONDS:
98.4%
Alabama
:
3.6%
Alabama
Federal
Aid
Highway
Finance
Authority,
Series
A
(RB)
5.00%,
06/01/37(c)
$
1,000
$
1,063,702
Black
Belt
Energy
Gas
District
Gas,
Project
No.
4,
Series
A
(RB)
4.00%,
12/01/49(c)
(p)
2,360
2,368,721
Black
Belt
Energy
Gas
District,
Series
C-1
(RB)
4.00%,
10/01/52(c)
(p)
600
602,950
Black
Belt
Energy
Gas
District,
Series
D-1
(RB)
5.50%,
06/01/49(c)
(p)
1,000
1,064,164
County
of
Jefferson
(RB)
5.00%,
09/15/28(c)
525
548,383
Lower
Alabama
Gas
District,
Project
No.
2
(RB)
(SAW)
4.00%,
12/01/50(c)
(p)
1,500
1,504,260
Southeast
Energy
Authority,
Cooperative
District
Commodity
Supply,
Series
A
(RB)
5.25%,
01/01/54(c)
(p)
1,000
1,062,230
The
Black
Belt
Energy
Gas
District,
Gas
Project,
Series
E
(RB)
5.00%,
05/01/53(p)
1,000
1,045,428
9,259,838
Arizona
:
1.3%
Arizona
Industrial
Development
Authority,
Series
A
(RB)
5.00%,
11/01/28(c)
500
527,345
City
of
Phoenix
Civic
Improvement
Corp.,
Junior
Lien
Wastewater
System
(RB)
5.00%,
07/01/29(c)
620
643,566
Maricopa
County
Industrial
Development
Authority,
Banner
Health,
Series
A
(RB)
5.00%,
01/01/26
700
719,366
5.00%,
01/01/53(c)
(p)
500
514,173
Salt
River
Project
Agricultural
Improvement
&
Power
District,
Series
A
(RB)
5.00%,
01/01/26
500
514,746
5.00%,
01/01/27
500
525,052
3,444,248
California
:
17.6%
Bay
Area
Toll
Authority,
San
Francisco
Bay
Area,
Series
A
(RB)
2.95%,
04/01/47(c)
(p)
1,155
1,138,572
Bay
Area
Toll
Authority,
Series
B
(RB)
2.85%,
04/01/47(c)
(p)
375
372,453
Par
(000’s)
Value
California
(continued)
California
Community
Choice
Financing
Authority
(RB)
5.00%,
07/01/53(c)
(p)
$
1,000
$
1,061,609
California
Community
Choice
Financing
Authority,
Clean
Energy,
G-1
(RB)
5.25%,
11/01/54(c)
(p)
1,000
1,076,115
California
Community
Choice
Financing
Authority,
Clean
Energy,
Series
A-1
(RB)
4.00%,
05/01/53(c)
(p)
500
504,519
California
Community
Choice
Financing
Authority,
Clean
Energy,
Series
D
(RB)
5.50%,
05/01/54(c)
(p)
1,000
1,073,191
California
Health
Facilities
Financing
Authority,
Kaiser
Permanente,
Series
A-1
(RB)
5.00%,
11/01/27
500
536,740
California
Health
Facilities
Financing
Authority,
Providence
St.
Joseph
Health,
Series
B-2
(RB)
4.00%,
10/01/36(c)
(p)
500
500,258
California
Health
Facilities
Financing
Authority,
Providence
St.
Joseph
Health,
Series
B-3
(RB)
2.00%,
10/01/36(c)
(p)
335
326,534
California
Health
Facilities
Financing
Authority,
Providence
St.
Joseph
Health,
Series
C
(RB)
5.00%,
10/01/39(p)
585
589,968
California
Infrastructure
And
Economic
Development
Bank,
Series
B-2
(RB)
3.00%,
10/01/47(c)
(p)
500
499,596
California
State
Public
Works
Board,
Kern
Valley
State
Prison,
Series
D
(RB)
5.00%,
06/01/25
825
839,585
California
State
Public
Works
Board,
Natural
Resources
Headquarters,
Series
C
(RB)
5.00%,
11/01/29
675
747,289
California
State
Public
Works
Board,
Various
Capital
Projects,
Series
B
(RB)
5.00%,
10/01/26
830
868,411
5.00%,
10/01/28(c)
785
830,765
California
State
Public
Works
Board,
Various
Correctional
Facilities,
Series
D
(RB)
5.00%,
09/01/26
500
522,235
California
State
University,
Systemwide,
Series
B-3
(RB)
3.12%,
11/01/51(c)
(p)
500
499,922
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
2
Par
(000’s)
Value
California
(continued)
California
Statewide
Communities
Development
Authority,
Pollution
Control,
Southern
California
Edison
Company,
Series
A
(RB)
1.75%,
09/01/29(c)
$
2,500
$
2,221,125
City
&
County
of
San
Francisco,
Series
R-1
(GO)
4.00%,
06/15/28(c)
1,000
1,000,473
City
and
County
of
San
Francisco,
Moscone
Convention
Center
Expansion
Project,
Series
B
(CP)
4.00%,
04/01/30(c)
1,000
1,005,446
City
of
San
Francisco,
Public
Utilities
Commission
Water,
Series
C
(RB)
5.00%,
11/01/28
500
548,565
Foothill-Eastern
Transportation
Corridor
Agency,
Series
A
(RB)
0.00%,
01/01/27^
500
466,069
Golden
State
Tobacco
Securitization
Corp.,
Enhanced
Tobacco
Settlement,
Series
A
(RB)
5.00%,
06/01/40(c)
1,000
1,017,845
5.00%,
06/01/45(c)
1,870
1,903,370
Golden
State
Tobacco
Securitization
Corp.,
Enhanced
Tobacco
Settlement,
Series
A
(RB)
(AGM)
0.00%,
06/01/26^
1,000
943,984
Los
Angeles
County
Metropolitan
Transportation
Authority,
Series
A
(RB)
5.00%,
07/01/25
500
509,828
Los
Angeles
Department
of
Water
and
Power
System,
Series
A
(RB)
5.00%,
07/01/29
500
554,532
Oakland
Unified
School
District,
Series
A
(GO)
5.00%,
08/01/40(c)
1,000
1,022,353
Orange
County
Transportation
Authority,
I-405
Improvement
Project
(RB)
4.00%,
10/15/24
675
676,554
5.00%,
10/15/24
750
753,247
Public
Facilities
Financing
Authory
of
the
City
of
San
Diego,
Subordinated
Water,
Series
B
(RB)
5.00%,
08/01/27(c)
500
522,161
Public
Utilities
Commission
of
the
City
&
County
of
San
Francisco,
Wastewater
Revenue,
Series
A
(RB)
1.00%,
10/01/25(c)
1,000
967,324
Par
(000’s)
Value
California
(continued)
5.00%,
10/01/26
$
1,000
$
1,049,510
San
Bernardino
Community
College
District,
Series
A
(GO)
4.00%,
08/01/49(c)
540
560,602
San
Bernardino
County,
Capital
Facilities,
Project
B
(CP)
6.88%,
08/01/24
535
535,000
San
Francisco
Community
College
District
(GO)
5.00%,
06/15/25
1,000
1,018,124
San
Joaquin
Hills,
Agency
Toll
Road
(RB)
0.00%,
01/01/25^
500
493,732
Southwestern
Community
College
District,
Series
D
(GO)
5.00%,
08/01/44(c)
500
510,629
State
of
California,
Department
of
Water
Resources,
Series
BB
(RB)
5.00%,
12/01/26
500
527,055
State
of
California,
Various
Purpose
(GO)
5.00%,
10/01/24
555
556,870
5.00%,
10/01/27
1,000
1,066,305
5.00%,
10/01/27
530
565,142
5.00%,
10/01/27
500
533,153
5.00%,
10/01/29
1,000
1,106,573
5.00%,
11/01/26
915
957,990
5.00%,
11/01/28(c)
1,000
1,061,391
5.00%,
11/01/28
910
990,348
5.00%,
10/01/29(c)
1,000
1,030,407
5.00%,
04/01/27
750
791,771
5.00%,
08/01/24
325
325,000
5.00%,
08/01/25
1,000
1,021,258
5.00%,
08/01/27
1,305
1,387,130
5.00%,
09/01/26
1,000
1,043,438
5.00%,
09/01/27
1,000
1,064,616
5.00%,
09/01/28
1,000
1,084,931
State
of
California,
Various
Purpose
(GO)
(BAM-TCRS)
5.00%,
09/01/25
300
306,906
45,688,519
Colorado
:
1.6%
Boulder
Larimer
&
Weld
Counties,
St.
Vrain
Valley
School
District,
Series
C
(GO)
(SAW)
5.00%,
12/15/35(c)
500
524,314
City
Of
Colorado
Springs,
Colorado
Utilities
System,
Series
A-1
(RB)
5.00%,
11/15/26
500
523,457
Colorado
Health
Facilities
Authority,
Sanford,
Series
A
(RB)
5.00%,
11/01/25
500
510,812
Douglas
County
School
District
No.
RE-1
(GO)
(SAW)
5.00%,
12/15/24
500
503,551
3
Par
(000’s)
Value
Colorado
(continued)
Regional
Transportation
District,
Fastracks
Project,
Series
B
(RB)
5.00%,
11/01/28
$
1,000
$
1,085,369
State
of
Colorado,
Series
A
(CP)
5.00%,
12/15/26
500
524,340
University
of
Colorado,
Series
A-2
(RB)
4.00%,
06/01/34(c)
500
521,318
4,193,161
Connecticut
:
2.6%
Connecticut
State
Health
&
Educational
Facilities
Authority,
Series
A
(RB)
5.00%,
07/01/26
500
518,145
State
of
Connecticut,
Series
B
(GO)
(BAM)
3.00%,
06/01/29
1,000
990,988
State
of
Connecticut,
Series
E
(GO)
5.00%,
11/15/25
670
687,945
State
of
Connecticut,
Special
Tax,
Transportation
Infrastructure
Purpose,
Series
A
(ST)
5.00%,
05/01/28
600
645,347
State
of
Connecticut,
Transportation
Infrastructure
Purposes,
Series
A
(ST)
5.00%,
05/01/26
1,015
1,051,895
State
of
Connecticut,
Transportation
Infrastructure
Purposes,
Series
B
(RB)
5.00%,
10/01/24
535
536,667
University
of
Connecticut,
Series
A
(RB)
5.00%,
01/15/30(c)
745
779,232
5.00%,
04/15/26
550
569,571
5.00%,
04/15/29(c)
1,000
1,068,220
6,848,010
Delaware
:
0.5%
Delaware
State
Economic
Development
Authority,
NRG
Energy
Project,
Series
A
(RB)
1.25%,
10/01/45(c)
(p)
500
477,798
Delaware
Transportation
Authority
(RB)
5.00%,
07/01/26
500
519,852
State
of
Delaware,
Series
A
(GO)
5.00%,
10/01/25
410
420,166
1,417,816
District
of
Columbia
:
0.9%
District
of
Columbia,
Series
D
(GO)
5.00%,
06/01/25
315
320,386
District
of
Columbia,
Series
E
(GO)
5.00%,
06/01/25
500
508,549
Par
(000’s)
Value
District
of
Columbia
(continued)
Metropolitan
Washington
Airports
Authority,
Airport
System,
Series
B
(RB)
5.00%,
10/01/28
$
500
$
542,074
Metropolitan
Washington
Airports
Authority,
Dulles
Toll
Road,
Series
C
(RB)
(AGC)
6.50%,
10/01/41(c)
1,000
1,073,660
2,444,669
Florida
:
2.6%
Central
Florida
Expressway
Authority
(RB)
(AGM)
5.00%,
07/01/27
500
529,258
County
of
Miami-Dade
(RB)
5.00%,
10/01/29(c)
510
529,163
County
of
Miami-Dade,
Building
Better
Communities
Program,
Series
A
(GO)
5.00%,
07/01/30(c)
520
537,535
County
of
Miami-Dade,
Water
and
Sewer
System
(RB)
5.00%,
10/01/28
1,000
1,078,434
Florida
State
Department
of
Transportation,
Turnpike
Enterprise,
Series
A
(RB)
5.00%,
07/01/26(c)
655
666,388
School
Board
of
Miami-Dade
County,
Series
A
(CP)
5.00%,
05/01/28(c)
895
905,076
South
Miami
Health
Facilities
Authority,
Baptist
Health
(RB)
5.00%,
08/15/29(c)
710
743,506
State
of
Florida,
Board
of
Education,
Public
Education
Capital
Outlay,
Series
A
(GO)
5.00%,
06/01/28
770
831,198
State
of
Florida,
Board
of
Education,
Public
Education
Capital
Outlay,
Series
E
(GO)
3.00%,
06/01/30(c)
1,000
990,359
6,810,917
Georgia
:
3.6%
City
of
Atlanta,
Water
and
Wastewater,
Series
A
(RB)
5.00%,
11/01/24
500
502,193
Georgia
State
Road
and
Tollway
Authority
(RB)
5.00%,
06/01/29
800
878,554
Main
Street
Natural
Gas,
Inc.,
Gas
Supply,
Series
B
(RB)
5.00%,
07/01/53(c)
(p)
1,000
1,066,116
Main
Street
Natural
Gas,
Inc.,
Series
A
(RB)
4.00%,
07/01/52(c)
(p)
1,250
1,259,857
Main
Street
Natural
Gas,
Inc.,
Series
B
(RB)
4.00%,
08/01/49(c)
(p)
500
500,320
5.00%,
12/01/52(c)
(p)
500
525,865
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
4
Par
(000’s)
Value
Georgia
(continued)
Main
Street
Natural
Gas,
Inc.,
Series
C
(RB)
4.00%,
08/01/52(c)
(p)
$
500
$
492,402
4.00%,
03/01/50(c)
(p)
1,500
1,505,725
State
of
Georgia,
Series
A
(GO)
5.00%,
02/01/29(c)
680
698,113
5.00%,
08/01/26
700
729,457
State
of
Georgia,
Series
C
(GO)
5.00%,
07/01/26
1,000
1,040,274
9,198,876
Hawaii
:
1.5%
City
&
County
of
Honolulu,
Rail
Transit
Project,
Series
E
(GO)
5.00%,
03/01/26
785
810,298
5.00%,
03/01/27
500
526,575
State
of
Hawaii,
General
Obligation,
Series
EO
(GO)
5.00%,
08/01/25(c)
520
520,803
State
of
Hawaii,
Series
ET
(GO)
3.00%,
10/01/29(c)
1,000
986,831
State
of
Hawaii,
Series
FE
(GO)
5.00%,
10/01/25
1,000
1,024,216
3,868,723
Illinois
:
5.4%
Board
of
Trustees
of
the
University
of
Illinois,
Series
A
(RB)
5.00%,
04/01/25
500
506,209
Chicago
O'Hare
International
Airport,
Series
B
(RB)
(AGM)
5.00%,
01/01/26
500
514,535
Chicago
O'Hare
International
Airport,
Series
C
(RB)
5.00%,
01/01/26
315
324,157
Chicago
Transit
Authority,
Federal
Transit
Administration
Section
5307
Urbanized
Area
Formula
(RB)
5.00%,
06/01/25
340
343,874
City
of
Chicago,
Series
A
(GO)
5.00%,
01/01/27
365
375,462
5.00%,
01/01/30
2,000
2,126,760
City
of
Chicago,
Series
B
(GO)
4.00%,
01/01/30
358
361,816
Illinois
Finance
Authority,
Clean
Water
Initiative
(RB)
5.00%,
01/01/28
500
535,035
5.00%,
07/01/27
685
726,069
Illinois
Finance
Authority,
Northshore
University
Health
System,
Series
A
(RB)
(AGM)
5.00%,
08/15/26
500
517,931
Illinois
State
Toll
Highway
Authority,
Series
A
(RB)
5.00%,
01/01/27
415
435,098
Illinois
State
Toll
Highway
Authority,
Series
C
(RB)
5.00%,
01/01/27
650
681,479
Par
(000’s)
Value
Illinois
(continued)
Illinois
State,
Series
A
(GO)
5.00%,
11/01/27
$
1,000
$
1,054,303
Metropolitan
Water
Reclamation
District
of
Greater
Chicago,
Series
A
(GO)
5.00%,
12/01/29(c)
780
811,703
Regional
Transportation
Authority
of
Illinois,
Series
A
(RB)
5.00%,
07/01/28(c)
735
773,094
State
of
Illinois
(GO)
3.50%,
06/01/29(c)
685
674,773
State
of
Illinois
(GO)
(AGC)
5.50%,
05/01/25
335
340,634
State
of
Illinois,
Series
A
(RB)
4.00%,
06/15/28
580
595,051
State
of
Illinois,
Series
D
(GO)
5.00%,
11/01/25
1,345
1,374,701
5.00%,
11/01/26
800
830,806
13,903,490
Indiana
:
0.6%
Indiana
Finance
Authority,
Series
C
(RB)
5.00%,
12/01/24
575
578,740
Indiana
Finance
Authority,
Series
E
(RB)
5.00%,
06/01/29
935
1,028,141
1,606,881
Iowa
:
0.6%
PEFA,
Inc.,
Gas
Project
(RB)
5.00%,
09/01/49(c)
(p)
1,500
1,531,448
Underline
Kentucky
:
0.8%
Kentucky
Public
Energy
Authority,
Gas
Supply,
Series
C-1
(RB)
4.00%,
12/01/49(c)
(p)
1,100
1,102,637
Louisville
&
Jefferson
County,
Metro
Government,
Norton
Healtcare,
Inc.,
Series
C
(RB)
5.00%,
10/01/47(c)
(p)
1,000
1,027,149
2,129,786
Louisiana
:
0.9%
Louisiana
Public
Facilities
Authority,
Ochsner
Clinic
Project,
Series
B
(RB)
(SAW)
5.00%,
05/15/50(c)
(p)
500
506,045
St.
John
Baptist
Parish,
Marathon
Oil
Co.,
Series
B-2
(RB)
2.38%,
06/01/37(p)
750
728,657
State
of
Louisiana,
Series
A
(GO)
5.00%,
02/01/29
1,000
1,088,982
2,323,684
5
Par
(000’s)
Value
Maine
:
0.2%
State
of
Maine,
Series
B
(GO)
(SBG)
5.00%,
06/01/25
$
500
$
508,590
Underline
Maryland
:
2.9%
County
of
Baltimore
(GO)
5.00%,
03/01/30
945
1,051,486
County
of
Montgomery,
Consolidated
Public
Improvement,
Series
A
(GO)
4.00%,
08/01/29
750
790,664
State
of
Maryland,
Department
of
Transportation
(RB)
4.00%,
11/01/27(c)
500
500,219
5.00%,
10/01/26
595
622,024
State
of
Maryland,
Department
of
Transportation,
Series
B
(RB)
4.00%,
05/01/30(c)
750
770,837
State
of
Maryland,
Series
B
(GO)
5.00%,
08/01/24
550
550,000
State
of
Maryland,
State
and
Local
Facilities
Loan
(GO)
4.00%,
06/01/27(c)
560
560,061
State
of
Maryland,
State
and
Local
Facilities
Loan,
Second
Series
B
(GO)
5.00%,
08/01/26
385
401,277
State
of
Maryland,
State
and
Local
Facilities
Loan,
Series
A
(GO)
5.00%,
03/15/28(c)
500
525,788
5.00%,
03/15/28
500
538,151
5.00%,
03/15/29
1,000
1,096,751
7,407,258
Massachusetts
:
2.9%
Commonwealth
of
Massachusetts
(RB)
(NATL)
5.50%,
01/01/27
680
719,993
Commonwealth
of
Massachusetts,
Series
A
(GO)
5.00%,
01/01/27
710
746,083
5.00%,
05/01/27
500
529,015
5.00%,
07/01/27
500
530,843
Commonwealth
of
Massachusetts,
Series
C
(GO)
5.00%,
10/01/26
400
418,597
5.00%,
05/01/30
1,000
1,117,366
Commonwealth
of
Massachusetts,
Series
E
(GO)
3.00%,
12/01/25
750
749,757
Massachusetts
Development
Finance
Agency,
Harvard
University
Issue,
Series
A
(RB)
5.00%,
10/15/26
500
524,002
Par
(000’s)
Value
Massachusetts
(continued)
Massachusetts
Housing
Finance
Agency
Housing
Bonds,
Series
B-2
(RB)
0.90%,
06/01/26(c)
$
500
$
469,582
Massachusetts
State
College
Building
Authority,
Series
A
(RB)
5.00%,
05/01/49(c)
775
787,418
Massachusetts
Water
Resources
Authority,
Series
C
(RB)
5.00%,
08/01/40(c)
1,000
1,041,684
7,634,340
Michigan
:
0.6%
State
of
Michigan,
Environmental
Program
(GO)
3.00%,
05/01/30(c)
410
398,513
State
of
Michigan,
Grant
Anticipation
(RB)
5.00%,
03/15/26
500
515,468
State
of
Michigan,
Trunk
Line,
Series
B
(RB)
5.00%,
11/15/27
500
534,236
1,448,217
Minnesota
:
1.5%
Minneapolis-
St.
Paul
Metropolitan
Airports,
Series
A
(RB)
5.00%,
01/01/29
1,000
1,083,034
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Series
B
(RB)
5.00%,
01/01/30(c)
515
537,681
Minneapolis-St.
Paul
Metropolitan
Area,
Series
C
(GO)
5.00%,
12/01/26
1,000
1,048,776
State
of
Minnesota,
Various
Purpose,
Series
A
(GO)
5.00%,
08/01/24
1,200
1,200,000
3,869,491
Mississippi
:
0.2%
State
of
Mississippi,
Series
A
(GO)
5.00%,
10/01/29(c)
430
455,096
Underline
Missouri
:
0.7%
Curators
of
the
University
of
Missouri,
Series
A
(RB)
5.00%,
11/01/29(c)
1,405
1,411,207
Missouri
State
Environmental
Improvement
and
Energy
Resources
Authority,
Water
Pollution
Control
and
Drinking
Water,
Series
B
(RB)
5.00%,
01/01/26(c)
500
509,149
1,920,356
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
6
Par
(000’s)
Value
Montana
:
0.2%
City
of
Forsyth,
Montana
Pollution
Control,
Northwestern
Corp.
Colstrip
Project
(RB)
3.88%,
07/01/28(c)
$
500
$
505,478
Underline
Nevada
:
0.6%
Clark
County
(GO)
5.00%,
06/01/25
1,090
1,108,093
Clark
County,
Nevada
Airport
System,
Series
A
(RB)
5.00%,
07/01/29
500
547,281
1,655,374
New
Jersey
:
4.3%
New
Jersey
Economic
Development
Authority,
New
Jersey
Transit
Corp.
Project,
Series
B
(RB)
4.00%,
11/01/25
660
667,458
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction,
Series
DDD
(RB)
5.00%,
06/15/34(c)
615
654,049
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction,
Series
WW
(RB)
5.25%,
06/15/40(c)
1,500
1,530,566
5.25%,
06/15/29(c)
1,000
1,020,377
New
Jersey
Educational
Facilities
Authority,
Higher
Education
Facilities
Trust
(RB)
5.00%,
06/15/26(c)
500
500,610
New
Jersey
Educational
Facilities
Authority,
Princeton
University,
Series
B
(RB)
5.00%,
07/01/25
1,000
1,019,290
5.00%,
07/01/28(c)
1,000
1,062,430
New
Jersey
Health
Care
Facilities
Financing
Authority,
Greystone
Park
Psychiatric
Hospital
(RB)
5.00%,
09/15/26
500
517,577
New
Jersey
Health
Care
Facilities
Financing
Authority,
Hackensack
Meridian
Health,
Series
A
(RB)
5.00%,
07/01/29(c)
660
694,483
New
Jersey
Transportation
Trust
Fund
Authority,
Series
A
(RB)
5.00%,
12/15/24
1,000
1,006,718
5.00%,
12/15/26
500
522,553
5.00%,
06/15/30(c)
435
447,351
New
Jersey
Transportation
Trust
Fund
Authority,
Series
AA
(RB)
5.00%,
06/15/25
500
508,079
Par
(000’s)
Value
New
Jersey
(continued)
State
of
New
Jersey,
Various
Purposes
(GO)
2.00%,
06/01/25
$
500
$
492,479
2.00%,
06/01/26
500
484,963
11,128,983
New
Mexico
:
1.0%
New
Mexico
Hospital
Equipment
Loan
Council,
Presbyterian
Healthcare
Services,
Series
A
(RB)
4.12%,
08/01/44(c)
1,000
1,010,223
State
of
New
Mexico,
Series
A
(RB)
5.00%,
07/01/27
840
890,604
State
of
New
Mexico,
Series
B
(RB)
5.00%,
07/01/26
535
556,343
2,457,170
New
York
:
13.5%
City
of
New
York,
Series
A
(GO)
5.00%,
08/01/24
1,500
1,500,000
City
of
New
York,
Series
A-1
(GO)
5.00%,
08/01/29
1,000
1,093,219
City
of
New
York,
Series
C
(GO)
5.00%,
08/01/24
750
750,000
City
of
New
York,
Series
C
(GO)
(SD
CRED
PROG)
5.00%,
08/01/27
500
528,954
City
of
New
York,
Series
C
and
D
(GO)
5.00%,
08/01/26
325
338,097
City
of
New
York,
Series
F-1
(GO)
5.00%,
03/01/27
410
430,433
County
of
Nassau,
Series
C
(GO)
5.00%,
10/01/25
550
563,383
Dormitory
Authority
of
the
State
of
New
York
State,
Series
A
(RB)
5.00%,
03/15/26
1,265
1,307,386
Long
Island
Power
Authority
Electric
System
(RB)
(BAM)
5.00%,
09/01/26
510
531,837
Metropolitan
Transportation
Authority,
Series
A-1
(RB)
5.00%,
11/15/48(p)
2,000
2,007,273
Metropolitan
Transportation
Authority,
Series
B
(RB)
5.00%,
11/15/26
500
520,495
Metropolitan
Transportation
Authority,
Series
C
(RB)
5.25%,
11/15/29(c)
1,000
1,021,665
New
York
City
Housing
Development
Corp.,
Multi-
Family
Housing,
Series
F-2
(RB)
(FHA
542
(C))
0.60%,
05/01/61(c)
(p)
300
291,167
7
Par
(000’s)
Value
New
York
(continued)
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured,
Series
A
(RB)
5.00%,
11/01/27
$
440
$
469,215
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured,
Series
F,
Subseries
F-1
(RB)
5.00%,
02/01/27
850
893,279
New
York
City
Transitional
Finance
Authority,
Building
Aid,
Series
S-1
(RB)
(SAW)
5.00%,
07/15/25
570
581,516
New
York
City
Transitional
Finance
Authority,
Fiscal
Series
A,
Subseries
A-1
(RB)
5.00%,
11/01/26
1,000
1,045,201
New
York
City
Transitional
Finance
Authority,
Future
Tax
Secured
Subordinate,
Series
E-1
(RB)
5.00%,
02/01/30(c)
1,190
1,240,948
New
York
City
Water
&
Sewer
System,
Series
BB-2
(RB)
(AGM)
5.00%,
06/15/26(c)
430
433,041
New
York
City,
Series
A-1
(GO)
5.00%,
09/01/27
1,000
1,059,449
New
York
State
Dormitory
Authority,
New
York
Cornell
University,
Series
A
(RB)
5.00%,
07/01/26
700
729,124
New
York
State
Dormitory
Authority,
Personal
Income
Tax,
Series
A
(RB)
5.00%,
03/15/29
1,000
1,094,931
New
York
State
Dormitory
Authority,
Personal
Income
Tax,
Series
B
(RB)
5.00%,
02/15/27
510
538,659
New
York
State
Dormitory
Authority,
Series
A
(RB)
5.00%,
02/15/27
500
527,216
New
York
State
Dormitory
Authority,
Series
C
(RB)
5.00%,
03/15/28
640
688,376
New
York
State
Dormitory
Authority,
State
Sales
Tax,
Series
B
(RB)
5.00%,
03/15/26(c)
500
512,528
5.00%,
03/15/29(c)
595
605,706
New
York
State
Dormitory
Authority,
State
Sales
Tax,
Series
C
(RB)
5.00%,
03/15/25
1,035
1,049,088
New
York
State
Dormitory
Authority,
State
Sales
Tax,
Series
E
(RB)
5.00%,
03/15/26
680
704,738
Par
(000’s)
Value
New
York
(continued)
New
York
State
Dormitory
Authority,
State
University
Dormitory
Facilities,
Series
A
(RB)
5.00%,
07/01/25
$
500
$
509,007
New
York
State
Environmental
Facilities
Corp.,
State
Clean
Water
And
Drinking
Water
Revolving
Funds,
Series
B
(RB)
5.00%,
06/15/28
605
654,949
New
York
State
Housing
Finance
Agency,
Series
A-2
(RB)
2.50%,
11/01/60(c)
(p)
975
943,935
New
York
State
Housing
Finance
Agency,
Series
C
(RB)
(SONYMA
HUD
SECT
8)
3.80%,
11/01/62(c)
(p)
500
501,784
New
York
State
Housing
Finance
Agency,
Series
C-2
(RB)
(SONYMA
HUD
SECT
8)
3.60%,
11/01/63(c)
(p)
500
501,328
New
York
State
Housing
Finance
Agency,
Series
L-2
(RB)
0.75%,
11/01/25(c)
490
469,879
New
York
State
Thruway
Authority,
Series
P
(RB)
5.00%,
01/01/27
1,000
1,051,300
New
York
State
Urban
Development
Corp.,
State
Personal
Income,
Series
A
(RB)
5.00%,
03/15/25
495
501,584
5.00%,
03/15/28(c)
500
517,786
5.00%,
03/15/27
690
727,379
New
York
State
Urban
Development
Corp.,
State
Personal
Income,
Series
C
(RB)
5.00%,
03/15/27
500
526,855
New
York
State
Urban
Development
Corp.,
State
Personal
Income,
Series
E
(RB)
5.00%,
03/15/25
500
506,650
Triborough
Bridge
&
Tunnel
Authority,
Series A-2
(RB)
2.00%,
05/15/45(p)
875
843,137
Triborough
Bridge
&
Tunnel
Authority,
Series
A
(RB)
5.00%,
11/15/26
1,000
1,047,368
5.00%,
11/15/27
500
534,237
5.00%,
11/15/28
1,000
1,088,664
Triborough
Bridge
&
Tunnel
Authority,
Series
B
(RB)
5.00%,
11/15/28(c)
1,000
1,080,199
35,062,965
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
8
Par
(000’s)
Value
North
Carolina
:
1.9%
County
of
Mecklenburg,
Series
A
(GO)
4.00%,
04/01/29(c)
$
500
$
508,912
County
of
Wake
(RB)
5.00%,
09/01/26
375
391,444
North
Carolina
Medical
Care
Commission
Hospital,
Caromont
Health,
Series
B
(RB)
5.00%,
02/01/51(p)
500
511,860
State
of
North
Carolina,
Grant
Anticipation
Vehicle
(RB)
5.00%,
03/01/30(c)
1,500
1,629,206
State
of
North
Carolina,
Series
A
(GO)
5.00%,
06/01/30(c)
1,140
1,228,045
State
of
North
Carolina,
Series
B
(RB)
5.00%,
05/01/29(c)
585
615,897
4,885,364
Ohio
:
2.0%
American
Municipal
Power,
Inc.,
Combined
Hydroelectric
Projects,
Series
A
(RB)
5.00%,
02/15/28
500
534,172
City
of
Columbus,
Various
Purpose
(GO)
5.00%,
04/01/29(c)
750
798,236
County
of
Allen,
Ohio
Hospital
Facilities,
Mercy
Health,
Series
A
(RB)
5.00%,
12/01/29
1,250
1,362,492
Lancaster
Port
Authority,
Gas
Supply
(RB)
(SBG)
5.00%,
08/01/49(c)
(p)
485
488,143
Ohio
Water
Development
Authority,
Series
A
(RB)
5.00%,
06/01/29(c)
770
842,662
Ohio
Water
Development
Authority,
Series
B
(RB)
5.00%,
12/01/27(c)
1,000
1,046,233
5,071,938
Oklahoma
:
0.1%
Canadian
County
Educational
Facilities
Authority,
Mustang
Public
Schools
(RB)
3.00%,
09/01/29(c)
330
318,577
Underline
Oregon
:
0.9%
City
of
Portland,
Oregon
Sewer
System,
Series
A
(RB)
5.00%,
12/01/26
500
524,503
Jackson
County
School
District
No
549C
Medford
(GO)
(SBG)
5.00%,
12/15/28(c)
1,250
1,270,680
Multnomah
County
School
District
No.
1J,
Series
B
(GO)
(SBG)
5.00%,
06/15/25
500
509,149
Par
(000’s)
Value
Oregon
(continued)
$
2,304,332
Pennsylvania
:
3.5%
Allegheny
County
Hospital
Development
Authority,
Series
A
(RB)
5.00%,
07/15/30(c)
$
360
388,862
Allegheny
County
Sanitary
Authority
(RB)
(BAM)
5.00%,
12/01/27(c)
500
510,977
City
of
Philadelphia,
Series
A
(GO)
5.00%,
08/01/25
300
305,781
Commonwealth
of
Pennsylvania
(GO)
5.00%,
01/01/26
560
576,594
5.00%,
03/15/27(c)
500
505,764
5.00%,
07/15/27
1,000
1,061,961
5.00%,
09/01/27
1,000
1,064,616
Commonwealth
of
Pennsylvania
(GO)
(SBG)
5.00%,
07/15/26
1,000
1,041,117
County
of
Lehig,
Valley
Health
Network,
Series
A
(RB)
(SBG)
5.00%,
07/01/26
600
616,131
Delaware
River
Port
Authority,
Series
B
(RB)
5.00%,
01/01/25
350
352,795
Delaware
Valley,
Pennsylvania
Regional
Finance
Authority,
Series
A
(RB)
(AMBAC)
5.50%,
08/01/28
805
870,046
Montgomery
County
Industrial
Development
Authority,
Series
A
(RB)
4.10%,
04/01/53(p)
500
511,100
Montgomery
County
Industrial
Development
Authority,
Series
B
(RB)
4.10%,
06/01/29
705
727,116
University
of
Pittsburgh
of
the
Commonwealth,
System
of
Higher
Education
(RB)
4.00%,
04/15/26(c)
500
508,402
9,041,262
Rhode
Island
:
0.4%
Rhode
Island
Health
and
Educational
Building
Corp.,
Providence
Public
Buildings
Authority
Issue,
Series
A
(RB)
(AGM)
5.00%,
05/15/26(c)
500
506,262
Tobacco
Settlement
Financing
Corporation
Tobacco
Settlement
Asset-Backed
Bonds,
Series
A
(RB)
5.00%,
06/01/26(c)
500
504,481
1,010,743
9
Par
(000’s)
Value
Tennessee
:
1.7%
Johnson
City
Health
&
Educational
Facilities
Board,
Series
A
(RB)
5.00%,
07/01/25
$
500
$
506,647
Metropolitan
Government
of
Nashville
&
Davidson
County
(GO)
5.00%,
07/01/26
525
545,645
Shelby
County
Health
Educational
&
Housing
Facilities
Board,
Baptist
Memorial
Health,
Series
B
(RB)
5.00%,
09/01/49(c)
(p)
500
531,182
Tennessee
Energy
Acquisition
Corp.,
Gas
Project
(RB)
4.00%,
11/01/49(c)
(p)
1,775
1,778,560
Tennessee
Energy
Acquisition
Corp.,
Gas
Project,
Series
A-1
(RB)
5.00%,
05/01/53(c)
(p)
500
520,862
Tennessee
Energy
Acquisition
Corp.,
Series
B
(RB)
5.62%,
09/01/26
500
517,720
4,400,616
Texas
:
9.1%
Austin
Independent
School
District
(GO)
5.00%,
08/01/28
505
545,259
Bexar
County,
Limited
Tax
(GO)
5.00%,
06/15/27(c)
500
518,835
Board
of
Regents
of
the
University
of
Texas
System,
Series
B
(RB)
5.00%,
08/15/29
1,000
1,097,785
City
of
Dallas,
Series
A
(GO)
5.00%,
02/15/25
500
505,336
City
of
San
Antonio,
Electric
and
Gas
Systems
(RB)
5.00%,
02/01/27(c)
630
652,609
City
of
San
Antonio,
General
Improvement
(GO)
5.00%,
08/01/25
500
510,380
Comal
Independent
School
District
(GO)
5.00%,
02/01/26
775
798,086
Commonwealth
of
Pennsylvania
(GO)
5.00%,
02/15/27
2,000
2,102,450
County
of
Harris,
Flood
Control
District,
Series
A
(GO)
5.00%,
10/01/29(c)
480
490,280
Dallas
Independent
School
District,
Series
A
(GO)
4.00%,
02/15/34(c)
500
502,808
Denton
Independent
School
District
(GO)
5.00%,
08/15/29
1,000
1,093,369
Par
(000’s)
Value
Texas
(continued)
Denton
Independent
School
District,
Series
A
(GO)
5.00%,
08/15/45(c)
$
500
$
510,255
Ford
Bend
Independent
School
District,
Limited
Tax,
Series
B
(GO)
5.00%,
02/15/28
910
974,725
Harris
County,
Texas
Toll
Road
Senior
Lien,
Series
A
(RB)
5.00%,
08/15/27
1,000
1,060,720
Houston
Independent
School
District
(GO)
5.00%,
02/15/25
1,000
1,010,941
Houston
Texas
Utility
System,
Series
A
(RB)
5.00%,
11/15/27
1,000
1,064,906
Lower
Colorado
River
Authority,
LCRA
Transmission
Services
Corp.
Project,
Series
A
(RB)
(AGM)
5.00%,
05/15/27
500
527,100
North
Texas
Thruway
Authority,
Series
I
(RB)
(AGC)
6.20%,
01/01/42(c)
1,000
1,012,575
North
Texas
Tollway
Authority
System,
Series
A
(RB)
5.00%,
01/01/27
500
523,738
North
Texas
Tollway
Authority,
First
Tier,
Series
A
(RB)
5.00%,
01/01/30(c)
1,195
1,224,840
State
of
Texas,
Transportation
Commission,
Highway
Improvement,
Series
A
(GO)
5.00%,
04/01/30(c)
500
515,592
Texas
Municipal
Gas
Acquisition
&
Supply
Corp.
III
(RB)
5.00%,
12/15/26
600
615,455
Texas
Municipal
Gas
Acquisition
&
Supply
Corp.
IV,
Series
A
(RB)
5.50%,
01/01/54(c)
(p)
1,000
1,078,982
Texas
Transportation
Commission
Highway
Improvement
(GO)
5.00%,
04/01/30
1,000
1,110,856
Texas
Water
Development
Board
(RB)
5.00%,
04/15/26
1,000
1,036,262
Texas
Water
Development
Board,
Series
A
(RB)
5.00%,
04/15/30(c)
250
264,296
Texas
Water
Development
Board,
Series
B
(RB)
5.00%,
10/15/24
500
502,075
University
of
Houston,
Series
A
(RB)
5.00%,
02/15/26
1,000
1,031,936
VANECK
SHORT
MUNI
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
10
Par
(000’s)
Value
Texas
(continued)
Ysleta
Independent
School
District
(GO)
5.00%,
08/15/45(c)
$
650
$
664,003
23,546,454
Virginia
:
1.8%
County
of
Fairfax,
Public
Improvement,
Series
A
(GO)
(SAW)
4.00%,
10/01/25
990
1,003,614
Hampton
Roads
Transportation
Accountability
Commission,
Series
A
(RB)
5.00%,
07/01/26
750
778,639
Virginia
College
Building
Authority,
21st
Century
College
and
Equipment
Programs
Educational
Facilities,
Series
C
(RB)
5.00%,
02/01/27
600
630,402
Virginia
Commonwealth
Transportation
Board
(RB)
5.00%,
03/15/27(c)
510
531,448
Virginia
Public
Building
Authority,
Public
Facilities,
Series
A
(RB)
5.00%,
08/01/29(c)
720
762,027
Wise
County
Industrial
Development
Authority,
Virginia
Electric
and
Power
Co.
Project,
Series
A
(RB)
(AGC)
0.75%,
10/01/40(p)
1,000
951,827
4,657,957
Washington
:
3.2%
Central
Puget
Sound
Regional
Transit
Authority,
Motor
Vehicle
Excise
Tax
Improvement,
Series
S-1
(RB)
5.00%,
11/01/26
520
543,968
Central
Puget
Sound
Regional
Transit
Authority,
Series
S-1
(RB)
5.00%,
11/01/31(c)
500
513,043
Par
(000’s)
Value
Washington
(continued)
Energy
Northwest
Project
Electric,
Series
A
(RB)
5.00%,
07/01/25
$
1,000
$
1,018,925
Energy
Northwest
Project
Electric,
Series
C
(RB)
5.00%,
07/01/25
1,375
1,401,022
Energy
Northwest,
Colombia
Generating
Station
Electric,
Series
C
(RB)
5.00%,
07/01/30(c)
1,250
1,270,937
Energy
Northwest,
Project
3
Electric,
Series
A
(RB)
5.00%,
07/01/28(c)
725
767,283
State
of
New
Mexico,
Series
A
(GO)
5.00%,
06/01/26
1,000
1,038,480
State
of
Washington,
Various
Purpose,
Series
R-A
(GO)
5.00%,
08/01/24
750
750,000
Washington
Health
Care
Facilities
Authority,
CommonSpirit
Health,
Series
B-1
(RB)
5.00%,
08/01/49(c)
(p)
1,000
1,000,000
8,303,658
West
Virginia
:
0.4%
State
of
West
Virginia,
Surface
Transportation
Improvements,
Series
A
(RB)
5.00%,
09/01/26
1,000
1,039,935
Underline
Wisconsin
:
0.7%
City
of
Milwaukee,
Series
N4
(GO)
5.00%,
04/01/26
750
769,899
State
of
Wisconsin,
Series
A
(GO)
5.00%,
05/01/28(c)
500
507,264
5.00%,
05/01/25
500
507,525
1,784,688
Total
Municipal
Bonds:
98.4%
(Cost:
$259,037,154)
255,088,908
Other
assets
less
liabilities:
1.6%
4,110,911
NET
ASSETS:
100.0%
$
259,199,819
11
FootnoteRuleAboveBlank
Footnotes:
Definitions:
AGC
Assured
Guaranty
Corp.
AGM
Assured
Guaranty
Municipal
Corp.
AMBAC
American
Municipal
Bond
Assurance
Corp.
BAM
Build
America
Assurance
Co.
CP
Certificate
of
Participation
GO
General
Obligation
NATL
National
Public
Finance
Guarantee
Corp.
RB
Revenue
Bond
SAW
State
Aid
Withholding
SBG
School
Board
Guaranteed
SD
CRED
PROG
Special
District
Credit
Enhancement
Program
ST
Special
Tax
(c)
Callable
Security
—
the
redemption
date
shown
is
the
date
the
security
may
be
redeemed
by
the
issuer
(p)
Putable
Security
—
the
redemption
date
shown
is
the
date
the
security
may
be
redeemed
by
the
investor
^
Zero
Coupon
Bond