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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 Bloomberg Barclays AMT-Free Intermediate Continuous Municipal Index (LMT2TR), 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
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    LMT2TR
  • Index Rebalancing

    Monthly
  • 2021 Preliminary NAIC Designation7

    1.E

 
as of 09/20/21

  • 30-Day SEC Yield1

    0.79%
  • Total Net Assets

    $1.9B
  • Number of Holdings

    2232
  • Options

    Available
  • Gross Expense Ratio2

    0.24%
  • Net Expense Ratio/TER2

    0.24%
  • Distribution Frequency

    Monthly
1, 2, 7 See Important Disclosure
Why Invest?

Geographical Weightings (%) as of 08/31/21

  • State

    % of Net Assets
  • California

    15.8
  • New York

    15.5
  • Texas

    8.6
  • New Jersey

    4.8
  • Pennsylvania

    4.0
  • Illinois

    3.8
  • Florida

    3.7
  • Maryland

    3.3
  • Ohio

    3.0
  • Washington

    2.9
  • Massachusetts

    2.7
  • Virginia

    2.3
  • Colorado

    2.3
  • Georgia

    2.2
  • Connecticut

    2.1
  • North Carolina

    2.1
  • District of Columbia

    1.8
  • Wisconsin

    1.6
  • Alabama

    1.5
  • Oregon

    1.4
  • Other

    14.5

Portfolio Composition (%)
as of 08/31/21

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.87
  • Other

    0.00
  • Cash

    0.13

Currency Exposure (%)
as of 08/31/21

  • U.S. Dollar

    99.87
  • Other/Cash

    0.13

Credit Quality (%) as of 08/31/21

Composite % of Net Assets
Investment Grade AAA 18.37
AA 55.61
A 19.09
BBB 6.14
Total Investment Grade -- 99.22
Not Rated -- 0.78
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

3-YR Risk Measures*
as of 08/31/21

  • Beta vs. S&P 500 Index

    0.04
  • Correlation vs. S&P 500 Index

    0.15
  • Volatility (Standard Deviation)

    4.65
  • Sharpe Ratio

    0.91

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 08/31/21

 Average Portfolio Maturity: 11.12 Years

Sector Weightings (%) as of 08/31/21

  • Sector

    % of Net Assets
  • State

    19.2
  • Local

    18.5
  • Transportation

    12.9
  • Special Tax

    11.6
  • Water & Sewer

    9.2
  • Leasing

    7.3
  • Health Care

    7.0
  • Education

    5.5
  • Power

    3.6
  • Housing

    1.8
  • Industrial Revenue

    1.6
  • Tobacco

    1.3
  • Unassigned

    0.6
  • Solid Waste/Res Recovery

    0.0