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SMB
VanEck Short Muni ETF

Fund Description

The VanEck Short Muni ETF (SMB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays AMT-Free Short Continuous Municipal Index (LMT1TR), which is intended to track the overall performance of the U.S. dollar denominated short-term tax-exempt bond market.

 
 

  • Fund Ticker

    SMB
  • Exchange

    Cboe
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    LMT1TR
  • Index Rebalancing

    Monthly

 
as of 09/21/21

  • 30-Day SEC Yield1

    0.15%
  • Total Net Assets

    $317.2M
  • Number of Holdings

    604
  • Options

    Expected
  • Gross Expense Ratio2

    0.20%
  • Net Expense Ratio/TER2

    0.20%
  • Distribution Frequency

    Monthly
Why Invest?

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

  • State

    % of Net Assets
  • New York

    14.0
  • California

    13.5
  • Texas

    7.7
  • Illinois

    4.9
  • Maryland

    3.9
  • Pennsylvania

    3.8
  • Georgia

    3.0
  • Massachusetts

    3.0
  • New Jersey

    3.0
  • Alabama

    2.8
  • Connecticut

    2.7
  • Washington

    2.7
  • Ohio

    2.6
  • Virginia

    2.6
  • Florida

    2.6
  • Wisconsin

    2.2
  • Kentucky

    2.0
  • North Carolina

    1.8
  • Tennessee

    1.6
  • Minnesota

    1.6
  • Other

    17.8

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

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.92
  • Other

    0.00
  • 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 16.86
AA 52.13
A 22.48
BBB 6.02
Total Investment Grade -- 97.49
Not Rated -- 2.51
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

3-YR Risk Measures*
as of 08/31/21

  • Beta vs. S&P 500 Index

    0.03
  • Correlation vs. S&P 500 Index

    0.27
  • Volatility (Standard Deviation)

    2.21
  • Sharpe Ratio

    0.75

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

Maturity (%) as of 08/31/21

 Average Portfolio Maturity: 6.42 Years

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

  • Sector

    % of Net Assets
  • State

    20.3
  • Local

    15.8
  • Transportation

    11.7
  • Industrial Revenue

    10.0
  • Special Tax

    9.5
  • Water & Sewer

    7.3
  • Health Care

    7.3
  • Education

    5.9
  • Leasing

    5.7
  • Power

    5.0
  • Tobacco

    1.1
  • Housing

    0.5