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MAAX
VanEck Muni Allocation ETF

Fund Description

VanEck Muni Allocation ETF (MAAX) seeks maximum long-term after-tax return consisting of capital appreciation and income generally exempt from federal income tax. In pursuing long-term total return, the Fund seeks to reduce duration and/or credit risk during appropriate times by allocating primarily to VanEck municipal exchange-traded products that invest in tax-exempt bonds.

 
 

  • Fund Ticker

    MAAX
  • Exchange

    Cboe
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company

 
as of 09/20/21

  • 30-Day SEC Yield1

    2.77%
  • Total Net Assets

    $4.0M
  • Number of Holdings

    18
  • Options

    Expected
  • Gross Expense Ratio2

    0.36%
  • Net Expense Ratio/TER2

    0.36%
  • Distribution Frequency

    Monthly
Why Invest?

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

  • State

    % of Net Assets
  • California

    13.1
  • New York

    12.6
  • Texas

    7.2
  • Illinois

    7.2
  • New Jersey

    5.7
  • [Unassigned]

    5.1
  • Florida

    4.5
  • Pennsylvania

    4.1
  • Ohio

    3.4
  • Colorado

    2.8
  • Massachusetts

    2.1
  • Washington

    2.1
  • Virginia

    1.9
  • Georgia

    1.8
  • Wisconsin

    1.7
  • Puerto Rico

    1.7
  • Maryland

    1.7
  • Arizona

    1.6
  • Michigan

    1.5
  • North Carolina

    1.2
  • Other

    16.9

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

  • % of Net Assets
  • Stocks

    86.82
  • Bonds

    0.00
  • Other

    13.10
  • Cash

    0.08

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

  • U.S. Dollar

    99.92
  • Other/Cash

    0.08

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

Composite % of Net Assets
Investment Grade AAA 8.92
AA 28.68
A 13.80
BBB 13.96
Non-Investment Grade BB 7.79
B 2.61
CCC 1.25
Total Investment Grade -- 65.36
Total Non-Investment Grade -- 11.65
Not Rated -- 22.67
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

3-YR Risk Measures*

  • Beta vs. S&P 500 Index

    --
  • Correlation vs. S&P 500 Index

    --
  • Volatility (Standard Deviation)

    --
  • Sharpe Ratio

    --

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 08/31/21

  • Sector

    % of Net Assets
  • Health Care

    13.0
  • Local

    11.9
  • Transportation

    11.4
  • Special Tax

    10.8
  • State

    8.6
  • Education

    7.5
  • Industrial Revenue

    7.1
  • Unassigned

    7.0
  • Leasing

    6.7
  • Water & Sewer

    5.9
  • Tobacco

    3.9
  • Housing

    3.4
  • Power

    2.4
  • Cash

    0.3
  • Solid Waste/Res Recovery

    0.0

Maturity (%) as of 08/31/21

 Average Portfolio Maturity: 17.75 Years