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ITM
VanEck Intermediate Muni ETF

Fund Description

The VanEck Intermediate Muni ETF (ITM®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Intermediate AMT-Free Broad National Municipal Transition Index (MIBT), which is intended to track the overall performance of the U.S. dollar denominated intermediate-term tax-exempt bond market.

 
 

  • Fund Ticker

    ITM
  • Exchange

    Cboe
  • Inception Date

    12/04/2007
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Index Ticker

    MIBT
  • Index Rebalancing

    Monthly
  • 2022 Preliminary NAIC Designation7

    1.F

 
as of 09/29/22

  • 30-Day SEC Yield1

    3.20%
  • Total Net Assets

    $1.6B
  • Number of Holdings

    1757
  • Options

    Available
  • Gross Expense Ratio2

    0.24%
  • Net Expense Ratio/TER2

    0.24%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    09/30/2022

Geographical Weightings (%) as of 08/31/22

  • State

    % of Net Assets
  • New York

    17.4
  • California

    16.4
  • Texas

    8.6
  • Illinois

    4.6
  • New Jersey

    4.0
  • Washington

    3.8
  • Pennsylvania

    3.6
  • Florida

    3.3
  • Maryland

    3.0
  • Massachusetts

    2.9
  • Ohio

    2.6
  • Connecticut

    2.4
  • Georgia

    2.3
  • Virginia

    1.8
  • District of Columbia

    1.8
  • Colorado

    1.8
  • North Carolina

    1.6
  • Oregon

    1.4
  • Alabama

    1.4
  • Tennessee

    1.3
  • Other/Cash

    13.9

Portfolio Composition (%)
as of 08/31/22

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.89
  • Other

    0.00
  • Cash

    0.11

Currency Exposure (%)
as of 08/31/22

  • U.S. Dollar

    99.89
  • Other/Cash

    0.11

Credit Quality (%) as of 08/31/22

Composite % of Net Assets
Investment Grade AAA 17.58
AA 50.51
A 16.20
BBB 6.38
Non-Investment Grade BB 0.03
Total Investment Grade -- 90.67
Total Non-Investment Grade -- 0.03
Not Rated -- 9.31

3-YR Risk Measures*
as of 08/31/22

  • Beta vs. S&P 500 Index

    0.14
  • Correlation vs. S&P 500 Index

    0.44
  • Volatility (Standard Deviation)

    6.22
  • Sharpe Ratio

    -0.36

Source: VanEck, FactSet.

Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6

Maturity (%) as of 08/31/22

Average Portfolio Maturity: 10.87 Years

Sector Weightings (%) as of 08/31/22

  • Sector

    % of Net Assets
  • State GO

    18.2
  • Local GO

    16.4
  • Tax

    14.5
  • Water & Sewer

    7.8
  • Hospitals

    6.8
  • Transportation

    6.7
  • Education

    5.1
  • Leasing COPS & Appropriations

    5.1
  • Toll & Turnpike

    4.4
  • Power

    4.1
  • Utilities - Other

    2.8
  • Misc

    2.4
  • Airport

    1.8
  • Tobacco

    0.9
  • Multi-Family Housing

    0.9
  • Single Family Housing

    0.7
  • Industrial Development Revenue

    0.4
  • Health

    0.4
  • Refunded

    0.3
  • Pollution Control

    0.3
  • Unassigned

    0.1