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Related Funds

MORT
VanEck Vectors Mortgage REIT Income ETF

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VanEck Vectors Preferred Securities ex Financials ETF

XMPT
VanEck Vectors CEF Municipal Income ETF

BIZD
VanEck Vectors BDC Income ETF

Fund Description

The VanEck Vectors^®BDC Income ETF (BIZD^TM) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS^®US Business Development Companies Index (MVBIZDTG), which tracks the overall performance of publicly traded business development companies.

Fund Ticker
BIZD
Exchange
NYSE Arca
ETF Structure
Physical
Administrator
Van Eck Associates
Custodian
State Street Bank and Trust Company
Index Ticker
MVBIZDTG
Index Rebalancing
Quarterly

as of 05/07/21

30-Day SEC Yield¹
7.97%
Total Net Assets
$413.6M
Number of Holdings
26
Options
Expected
Gross Expense Ratio²
10.23%
Net Expense Ratio/TER²
10.23%
Distribution Frequency
Quarterly
Expenses Explained

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Key Points

High Income Potential⁶
Business Development Companies (BDCs) have proven an attractive alternative income source historically
Exposure to Private Credit
Target privately-held U.S. companies and thinly traded U.S. public companies which are generally difficult to access
Lending to Middle-Market Companies
BDCs generate income by lending to, and investing in, private companies that tend to be below investment grade or not rated

Yield
as of 05/07/21

30-Day SEC Yield¹
7.97%
Distribution Yield¹
8.83%
12-Month Yield¹
8.58%

¹ See Important Disclosure for definitions.

Fees & Expenses²

Management Fee
0.40%
Other Expenses
--
Acquired Fund Fees and Expenses
9.83%
Gross Expense Ratio
10.23%
Fee Waivers and
Expense Reimbursement
--
Net Expense Ratio/TER²
10.23%

²Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses.

Trading Information

Fund Ticker
BIZD
Index Total Return Ticker
MVBIZDTG
NAV
BIZDNV
Intraday NAV (IIV)⁴
BIZDIV
Shares Outstanding
24,625,000
Estimated Cash
BIZDEU
Total Cash
BIZDTC
CUSIP
92189F411
ISIN
US92189F4110

⁴See IIV Details. Source: Bloomberg

Investment Professionals

Peter Liao, CFA

Portfolio Manager and Head of Equity ETFs
Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
Joined VanEck in 2005
CFA charterholder; member of the CFA Society New York
BA, Mathematics and Economics, New York University

Guo Hua (Jason) Jin

Portfolio Manager and Analyst for Equity ETFs
Joined VanEck in 2007
Prior to his current role, held a portfolio administration position at VanEck
Previously, Portfolio Analyst at Evaluation Associates
BS, Business Administration (concentration in Financial Analysis), State University of New York at Buffalo

Griffin Driscoll

Analyst for Equity ETFs
Joined VanEck in 2018
Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
BS, Finance, Providence College

Ralph Lasta

Analyst for Equity ETFs
Joined VanEck in 2019
Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
BS, Accounting, Hunter College

Prices as of 05/07/21

	NAV/ Market Price	Volume 30-Day Avg./ Last Trading Day	Daily Change NAV/ Last Price	YTD Change NAV/ Last Price	Premium/ Discount	Prem/Discount Distribution Charts	NAV & Prem/Discount History	30-Day Median Bid Ask Spread	NAV Chart
BIZD	$16.79 $16.82	209,776 130,179	$0.06 / +0.37% $0.06 / +0.36%	+28.30% +27.57%	$0.03 0.15%			--

Premium/Discount History as of 05/07/21

		Calendar Year 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021
	Days closed at a premium	153	36	30	46	43
BIZD	Days closed at NAV	22	4	6	6	8
	Days closed at a discount	78	23	28	12	10

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

Month End as of 04/30/21
Quarter End as of 03/31/21

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 02/11/13
BIZD (NAV)	6.11	22.33	28.06	73.81	12.45	10.61	--	6.96
BIZD (Share Price)	5.96	22.52	27.99	73.56	12.54	10.65	--	6.98
MVBIZDTG (Index)	6.26	22.59	25.38	73.61	12.17	10.45	--	6.94
Performance Differential (NAV - Index)	-0.15	-0.26	2.68	0.20	0.28	0.16	--	0.02

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 02/11/13
BIZD (NAV)	4.46	20.68	20.68	95.86	10.83	9.80	--	6.26
BIZD (Share Price)	4.58	20.79	20.79	96.82	10.87	9.85	--	6.29
MVBIZDTG (Index)	4.51	17.99	17.99	95.06	10.52	9.59	--	6.22
Performance Differential (NAV - Index)	-0.05	2.69	2.69	0.80	0.31	0.21	--	0.04

*Returns less than one year are not annualized.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

The "Net Asset Value" (NAV) of a VanEck Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. VanEck Vectors ETF investors should not expect to buy or sell shares at NAV.

Top 10 Holdings (%) as of 04/30/21 Daily Holdings

Total Holdings: 26

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full data

	Holding Name	Ticker	Shares	Market Value (US$)	% of Net Assets
	ARES CAPITAL CORP	ARCC US	1,922,179	37,001,946	9.28
	MAIN STREET CAPITAL CORP	MAIN US	499,393	21,269,148	5.34
	HERCULES CAPITAL INC	HTGC US	1,179,154	20,529,071	5.15
	PROSPECT CAPITAL CORP	PSEC US	2,526,538	20,338,631	5.10
	OWL ROCK CAPITAL CORP	ORCC US	1,394,962	20,157,201	5.06
	GOLUB CAPITAL BDC INC	GBDC US	1,271,828	19,916,826	5.00
	OAKTREE SPECIALTY LENDING CORP	OCSL US	2,943,699	19,605,035	4.92
	FS KKR CAPITAL CORP II	FSKR US	943,328	19,309,924	4.85
	GOLDMAN SACHS BDC INC	GSBD US	981,806	19,223,761	4.82
	FS KKR CAPITAL CORP	FSK US	919,754	19,121,686	4.80
Top 10 Total (%)					54.32

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Sector Weightings (%) as of 04/30/21

Sector
% of Net Assets
■
Financial
100.0
■
Other/Cash
0.0

Currency Exposure (%)

as of 04/30/21

U.S. Dollar
99.95
Other/Cash
0.05

Country Weightings (%) as of 04/30/21

Country
% of Net Assets
■
United States
99.95
■
Other/Cash
0.05