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MLN
VanEck Long Muni ETF

Fund Description

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

 
 

  • Fund Ticker

    MLN
  • Exchange

    Cboe
  • Inception Date

    01/02/2008
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Index Ticker

    MLBT
  • Index Rebalancing

    Monthly
  • 2022 Preliminary NAIC Designation7

    1.F

 
as of 09/29/22

  • 30-Day SEC Yield1

    4.07%
  • Total Net Assets

    $208.7M
  • Number of Holdings

    459
  • Options

    No
  • 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

    21.6
  • California

    15.1
  • Texas

    9.4
  • Florida

    5.1
  • Pennsylvania

    4.7
  • Illinois

    4.3
  • Massachusetts

    4.1
  • Colorado

    2.7
  • New Jersey

    2.6
  • Ohio

    2.6
  • Washington

    2.4
  • Michigan

    2.3
  • Georgia

    2.1
  • Virginia

    1.9
  • District of Columbia

    1.7
  • Nevada

    1.5
  • North Carolina

    1.4
  • Arizona

    1.4
  • Maryland

    1.2
  • Oregon

    1.1
  • Other/Cash

    10.9

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

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.86
  • Other

    0.00
  • Cash

    0.14

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

  • U.S. Dollar

    99.86
  • Other/Cash

    0.14

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

  • Beta vs. S&P 500 Index

    0.20
  • Correlation vs. S&P 500 Index

    0.45
  • Volatility (Standard Deviation)

    8.65
  • Sharpe Ratio

    -0.47

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

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

  • Sector

    % of Net Assets
  • Hospitals

    14.3
  • Local GO

    13.4
  • Tax

    13.1
  • Water & Sewer

    9.5
  • Toll & Turnpike

    7.8
  • Education

    7.8
  • State GO

    5.6
  • Transportation

    5.1
  • Airport

    4.2
  • Power

    3.9
  • Leasing COPS & Appropriations

    3.8
  • Single Family Housing

    2.8
  • Health

    2.0
  • Utilities - Other

    1.8
  • Multi-Family Housing

    1.7
  • Misc

    1.1
  • Tobacco

    0.9
  • Industrial Development Revenue

    0.9
  • Pollution Control

    0.3
  • Unassigned

    0.1

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

Composite % of Net Assets
Investment Grade AAA 12.08
AA 48.20
A 15.69
BBB 9.39
Non-Investment Grade BB 0.13
Total Investment Grade -- 85.36
Total Non-Investment Grade -- 0.13
Not Rated -- 14.51

Maturity (%) as of 08/31/22

Average Portfolio Maturity: 23.35 Years