MORTVanEck Mortgage REIT Income ETF
The VanEck Mortgage REIT Income ETF (MORT®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS®US Mortgage REITs Index (MVMORTTG), which is intended to track the overall performance of U.S. mortgage real estate investment trusts.
AdministratorVan Eck Associates
CustodianState Street Bank and Trust Company
as of 09/22/21
30-Day SEC Yield17.94%
Total Net Assets$318.7M
Number of Holdings25
Gross Expense Ratio20.41%
Net Expense Ratio/TER20.41%
About Securities Lending
VanEck Exchange Traded Funds (ETFs) may lend securities to generate additional income which may help reduce expenses. All net proceeds earned by VanEck ETFs in the securities lending process are allocated to the applicable ETF after subtracting fees payable to the lending agent.
Securities lending is an established practice that involves the lending of securities from a lender (“Fund”) to a third-party (“Borrower”). In return, the Borrower posts collateral — typically cash or U.S. Government securities — in an amount equal to at least 102% of the value of the borrowed securities. Over the course of the loan term, the Fund will receive any interest or dividends on the securities loaned. Moreover, the Borrower will pay a fee, as well as any interest earned on the investment of the cash collateral.
The primary risk in securities lending is that a Borrower may default on its commitment to return securities that are on loan. If this occurs and the value of the liquidated collateral does not exceed the cost of repurchasing the securities, the Fund may suffer a loss with respect to the shortfall. This risk and others are described in more detail in the statutory prospectus, under "Lending Portfolio Securities".
Collateral Holdings Summary as of 08/31/21
Securities Lending Summary as of 08/31/21
|Securities Lending Return (% of AUM, YTD)||0.03|
|Average On-Loan (% of AUM, YTD)||12.11|
|Maximum On-Loan (% of AUM, YTD)||33.00|
|Collateralization (% of Loan, YTD)||102.87|
Important Details About Securities Lending
The primary risk in securities lending is that a Borrower may default on its commitment to return securities that are on loan. If this occurs and the value of the liquidated collateral does not exceed the cost of repurchasing the securities, the Fund may suffer a loss with respect to the shortfall. This risk and others are described in more detail in the statutory prospectus, under Lending Portfolio Securities.
The Top 10 Collateral Holdings table relates to securities obtained as collateral under the securities lending program. The information displayed comes from the securities lending administrator and is not necessarily all inclusive.
The Securities Lending Summary table reflects year-to-date information. Securities Lending Return is calculated using net securities lending revenues to the Fund divided by the total net assets as of month end of the Fund. Average On-Loan is the average market value of securities on loan compared to the total net assets as of month end of the Fund. Maximum On-Loan is not to exceed 33%, but the daily percentage on loan figure may increase or decrease over time. Collateralization is the amount of collateral received for the securities on loan divided by the market value of the securities on loan.
Each Fund may lend up to 33% of its investments requiring that the loan be continuously collateralized by cash, U.S. Government or U.S. Government agency securities, shares of an investment trust or mutual fund, or any combination of cash and such securities at all times equal to at least 102% (105% for foreign securities) of the market value plus accrued interest on the securities loaned.