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Related Funds

NDRMX
VanEck NDR Managed Allocation Fund - Class A

RAAX
VanEck Inflation Allocation ETF

LFEQ
VanEck Vectors Long/Flat Trend ETF

Fund Description

VanEck Vectors^®Long/Flat Trend ETF (LFEQ^®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ned Davis Research CMG US Large Cap Long/Flat Index (NDRCMGLF). The NDRCMGLF Index follows a proprietary model that determines when, and by how much, it allocates to U.S. equities and/or U.S. Treasury bills to seek to help avoid losses in declining markets or capitalize from rising markets. The model produces daily trade signals to determine the Index's equity allocation percentage (100%, 50%, or 0%).

Fund Ticker
LFEQ
Exchange
NYSE Arca
Index Total Return Ticker
NDRCMGLF
Index Provider
Ned Davis Research, Inc.
Administrator
Van Eck Associates
Custodian
State Street Bank and Trust Company
Index Ticker
NDRCMGLF

as of 07/29/21

30-Day SEC Yield¹
0.78%
Total Net Assets
$33.8M
Number of Holdings
1
Options
Expected
Gross Expense Ratio²
0.79%
Net Expense Ratio/TER²
0.58%
Distribution Frequency
Annual

Schedule a Call

Morningstar™ Ratings³
as of 06/30/2021

Category	Overall	3 Year
Large Blend	3 stars of 1257 funds	3 stars of 1257 funds

Key Points

Tactically allocates between S&P 500 equities and U.S. T-bills
Based on a breadth model that measures 24 industries, not just the top line S&P 500 return

Seeks to minimize impact of market downturns and participate in uptrends
Measures short, intermediate and long-term trends and includes a mean reversion signal to participate in bounce backs

Driven by the institutional expertise of Ned Davis Research
One of the largest independent institutional investment research providers

Trading Information

Fund Ticker
LFEQ
Index Total Return Ticker
NDRCMGLF
NAV
LFEQNV
Intraday NAV (IIV)³
LFEQIV
Shares Outstanding
825,000
Estimated Cash
LFEQEU
Total Cash
LFEQTC
CUSIP
92189F148
ISIN
US92189F1488

Source: Bloomberg

Fees and Expenses²

Management Fee
0.50%
Other Expenses
0.26%
Acquired Fund Fees and Expenses
0.03%
Gross Expense Ratio
0.79%
Fee Waivers and
Expense Reimbursement
-0.21%
Net Expense Ratio/TER²
0.58%

²Expenses for LFEQ are capped contractually at 0.55% until February 1, 2022. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

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 07/29/21

	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
LFEQ	$40.95 $40.94	2,177 11,491	$0.18 / +0.43% $0.15 / +0.36%	+20.77% +20.26%	$-0.01 -0.03%			0.10%

Premium/Discount History as of 07/29/21

		Calendar Year 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
	Days closed at a premium	79	16	28	27	17
LFEQ	Days closed at NAV	23	10	4	7	14
	Days closed at a discount	151	38	32	27	32

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

Month End as of 06/30/21
Quarter End as of 06/30/21

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 10/04/17
LFEQ (NAV)	2.21	8.24	17.36	40.15	16.09	--	--	14.72
LFEQ (Share Price)	2.29	8.32	17.37	39.96	16.17	--	--	14.74
NDRCMGLF (Index)	2.33	8.55	15.25	40.79	16.83	--	--	15.41
Performance Differential (NAV - Index)	-0.12	-0.31	2.11	-0.64	-0.74	--	--	-0.69
S&P 500 Index	2.33	8.55	15.25	40.79	18.67	17.65	14.84	17.31

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 10/04/17
LFEQ (NAV)	2.21	8.24	17.36	40.15	16.09	--	--	14.72
LFEQ (Share Price)	2.29	8.32	17.37	39.96	16.17	--	--	14.74
NDRCMGLF (Index)	2.33	8.55	15.25	40.79	16.83	--	--	15.41
Performance Differential (NAV - Index)	-0.12	-0.31	2.11	-0.64	-0.74	--	--	-0.69
S&P 500 Index	2.33	8.55	15.25	40.79	18.67	17.65	14.84	17.31

*Returns less than one year are not annualized.

Effective November 1, 2019, Ned Davis Research implemented several changes to the Ned Davis Research CMG Long/Flat Allocation Index construction rules. Among other changes, the methodology of the strategy evolved to reflect new enhancements to factors for composition and timeliness. Additional enhancements include the removal of smoothing on the breadth score, and adjustments to the trade signal to be either 100%, 50%, or 0% invested into equities. Past performance is no guarantee of future results.

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 distributions have been reinvested in the Fund at NAV.

All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

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.

Daily Holdings (%) as of 07/28/21 Download All Holdings

Total Holdings: 1

Ticker	Holding Name	Identifier (FIGI)	Shares	Asset Class	Market Value (US$)	% of Net Assets
VOO US	Vanguard S&P 500 ETF	BBG0015VYNT4	83,445	Stock	33,660,879	100.06
--	Other/Cash	--	--	Cash	-19,887	-0.06

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