Income Investing

VanEck Morningstar Durable Dividend ETF (DURA^®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Morningstar^® US Dividend Valuation Index^SM(MSUSDVTU), which is intended to track the overall performance of high dividend yielding U.S. companies with strong financial health and attractive valuations according to Morningstar.

Fund Ticker
DURA
Exchange
Cboe
ETF Structure
Physical
Administrator
Van Eck Associates
Custodian
State Street Bank and Trust Company
Index Ticker
MSUSDVTU
Index Reconstitution
Semi-Annually

as of 09/24/21

30-Day SEC Yield¹
3.01%
Total Net Assets
$52.2M
Number of Holdings
73
Options
Expected
Gross Expense Ratio²
0.73%
Net Expense Ratio/TER²
0.29%
Distribution Frequency
Quarterly

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Key Points

High Dividend Yield Potential
Index targets high yielding U.S. equities

Focus on Valuations
Index allocates to those companies trading at the lowest prices relative to Morningstar’s estimate of fair value

Strong Financial Health
Index components feature strong balance sheet health relative to peers

Yield
as of 09/24/21

30-Day SEC Yield¹
3.01%
Distribution Yield¹
2.40%
12-Month Yield¹
2.93%

¹ See Important Disclosure for definitions.

Fees and Expenses²

Management Fee
0.29%
Other Expenses
0.44%
Gross Expense Ratio
0.73%
Fee Waivers and
Expense Reimbursement
-0.44%
Net Expense Ratio/TER²
0.29%

²Expenses for DURA are capped contractually at 0.29% until February 1, 2022. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

Fund Ticker
DURA
Index Total Return Ticker
MSUSDVTU
NAV
DURANV
Intraday NAV (IIV)⁴
DURAIV
Shares Outstanding
1,675,000
Estimated Cash
DURAEU
Total Cash
DURATC
CUSIP
92189H102
ISIN
US92189H1023

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 09/24/21

	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
DURA	$31.19 $31.20	5,697 845	$0.01 / +0.05% $0.03 / +0.08%	+11.32% +11.21%	$0.01 0.02%			0.03%

Premium/Discount History as of 09/24/21

		Calendar Year 2020	3Q 2020	4Q 2020	1Q 2021	2Q 2021
	Days closed at a premium	138	21	37	49	40
DURA	Days closed at NAV	42	18	11	6	10
	Days closed at a discount	73	25	16	6	13

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

Month End as of 08/31/21
Quarter End as of 06/30/21

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 10/30/18
DURA (NAV)	1.87	4.12	14.92	21.90	--	--	--	12.30
DURA (Share Price)	1.93	4.10	15.00	21.80	--	--	--	12.33
MSUSDVTU (Index)^**	1.90	4.21	14.16	22.30	11.23	--	--	12.61
Performance Differential (NAV - Index)	-0.03	-0.09	0.76	-0.40	--	--	--	-0.31

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 10/30/18
DURA (NAV)	-0.65	3.22	9.64	24.48	--	--	--	11.16
DURA (Share Price)	-0.64	3.14	9.76	24.50	--	--	--	11.20
MSUSDVTU (Index)^**	-0.62	3.31	8.87	24.90	11.69	--	--	11.47
Performance Differential (NAV - Index)	-0.03	-0.09	0.77	-0.42	--	--	--	-0.31

*Returns less than one year are not annualized.
**Index inception date: 04/23/2018

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 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 ETF investors should not expect to buy or sell shares at NAV.

Top 10 Holdings (%) as of 08/31/21 Daily Holdings

Total Holdings: 80

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	Holding Name	Ticker	Shares	Market Value (US$)	% of Net Assets
	PFIZER INC	PFE US	65,193	3,003,442	5.65
	ABBVIE INC	ABBV US	21,169	2,556,792	4.81
	JOHNSON & JOHNSON	JNJ US	14,632	2,533,238	4.77
	JPMORGAN CHASE & CO	JPM US	15,055	2,408,047	4.53
	PROCTER & GAMBLE CO/THE	PG US	16,484	2,347,157	4.42
	PHILIP MORRIS INTERNATIONAL INC	PM US	22,769	2,345,207	4.41
	VERIZON COMMUNICATIONS INC	VZ US	40,667	2,236,685	4.21
	AT&T INC	T US	80,473	2,206,570	4.15
	CISCO SYSTEMS INC/DELAWARE	CSCO US	33,736	1,991,099	3.75
	COCA-COLA CO/THE	KO US	33,033	1,860,088	3.50
Top 10 Total (%)					44.20

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

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

Country
% of Net Assets
■
United States
99.84
■
Spain
0.06
■
Other/Cash
0.10

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

Sector
% of Net Assets
■
Health Care
26.7
■
Consumer Staples
24.7
■
Utilities
11.0
■
Communication Services
10.7
■
Financials
9.0
■
Industrials
8.1
■
Information Technology
4.7
■
Consumer Discretionary
3.6
■
Materials
1.5
■
Other/Cash
0.1

Income Investing

CEO's Investment Outlook

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