CRAK
VanEck Oil Refiners ETF
CRAK
VanEck Oil Refiners ETF
-
NAV
$30.98
as of June 08, 2023 -
YTD RETURNS
-0.68%
as of June 08, 2023 -
Total Net Assets
$32.53M
as of June 08, 2023 -
Gross Expense Ratio
0.78% -
Net Expense Ratio
0.61% -
Inception Date
08/18/2015
Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses) from exceeding 0.59% of the Fund's average daily net assets per year until at least May 1, 2024. During such time, the expense limitation is expected to continue until the Fund's Board of Trustees acts to discontinue all or a portion of such expense limitation.
Fund Description
VanEck Oil Refiners ETF (CRAK®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® Global Oil Refiners Index (MVCRAKTR), which is a rules-based, modified capitalization weighted index intended to give investors a means of tracking the overall performance of companies involved in crude oil refining which may include: gasoline, diesel, jet fuel, fuel oil, naphtha, and other petrochemicals.
Overview
Fund Highlights
- Potential to Benefit in Various Markets
An industry that may benefit from supply/demand imbalances for refined oil products and in periods of prolonged low oil prices
- Differentiated Segment of the Energy Sector
A segment that has historically interacted differently with oil prices and market dynamics than other energy segments
- Adapting to Long-Term Pressure
Oil refiners have been forced to adapt to increasing demand for clean energy and negative consumer sentiment toward plastics and waste