AFK
VanEck Vectors Africa Index ETF

Fund Description

VanEck Vectors^® Africa Index ETF (AFK^®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS^® GDP Africa Index (MVAFKTR), which includes local listings of companies that are incorporated in Africa and listings of companies incorporated outside of Africa but that have at least 50% of their revenues/related assets in Africa.

Fund Ticker
AFK
Exchange
NYSE Arca
Index Total Return Ticker
MVAFKTR
Index Provider
MV Index Solutions
Administrator
Van Eck Associates
Custodian
Bank of New York Mellon
Index Ticker
MVAFKTR
Commencement
07/10/2008

as of 10/16/19

30-Day SEC Yield¹
2.57%
Total Net Assets
$52.7M
Number of Holdings
84
Options
Expected
Gross Expense Ratio²
0.91%
Net Expense Ratio/TER²
0.78%
Distribution Frequency
Annual
Next Distribution Date
12/20/2019

Key Points

Nation's First ETF Focused Exclusively on Africa
A relatively untapped region with vast commodity resources and growth potential
One-Trade Access
To a broad range of sectors and African countries, including exposure to some less traditional, frontier markets
Pure Play
Companies must be incorporated in, or derive at least 50% of total revenues from Africa to be added to the index

Trading Information

Fund Ticker
AFK
Index Total Return Ticker
MVAFKTR
NAV
AFKNV
Intraday NAV (IIV)⁴
AFKIV
Shares Outstanding
2,600,000
Estimated Cash
AFKEU
Total Cash
AFKTC
CUSIP
92189F866
ISIN
US92189F8665

Source: Bloomberg

Fees and Expenses²

Management Fee
0.50%
Other Expenses
0.41%
Gross Expense Ratio
0.91%
Fee Waivers and
Expense Reimbursement
-0.13%
Net Expense Ratio/TER²
0.78%

²Expenses for AFK are capped contractually at 0.78% until May 1, 2020. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Prices as of 10/16/19

	NAV/ Last 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	NAV Chart
AFK	$20.26 $20.10	5,467 2,571	$0.07 / +0.33% $-0.07 / -0.34%	+0.91% +2.24%	$-0.16 -0.80%

Performance History: Average Annual Total Returns* (%)
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Month End as of 09/30/19
Quarter End as of 09/30/19

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 07/10/08
AFK (NAV)	0.03	-9.27	0.89	-4.93	1.24	-6.43	-0.98	-3.92
AFK (Share Price)	-0.80	-9.73	1.48	-4.91	0.88	-6.56	-1.41	-4.05
MVAFKTR (Index)⁵	-0.77	-9.88	0.57	-5.01	2.57	-5.29	0.15	-2.67
Performance Differential (NAV - Index)	0.80	0.61	0.32	0.08	-1.33	-1.14	-1.13	-1.25

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 07/10/08
AFK (NAV)	0.03	-9.27	0.89	-4.93	1.24	-6.43	-0.98	-3.92
AFK (Share Price)	-0.80	-9.73	1.48	-4.91	0.88	-6.56	-1.41	-4.05
MVAFKTR (Index)⁵	-0.77	-9.88	0.57	-5.01	2.57	-5.29	0.15	-2.67
Performance Differential (NAV - Index)	0.80	0.61	0.32	0.08	-1.33	-1.14	-1.13	-1.25

*Returns less than one year are not annualized.

⁵Index data prior to June 21, 2013 reflects that of the Dow Jones Africa Titans 50 Index (DJAFKT). From June 21, 2013, forward, the index data reflects that of the Fund's underlying index, MVIS GDP Africa Index (MVAFKTR). Index history which includes periods prior to June 21, 2013 reflects a blend of the performance of DJAFKT and MVAFKTR and is not intended for third party use.

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

Top 10 Holdings (%) as of 09/30/19 Daily Holdings

Total Holdings: 84

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full data

	Holding Name	Ticker	Shares	Market Value (US$)	% of Net Assets
	Naspers Ltd	NPN SJ	25,548	3,863,738	7.34
	Guaranty Trust Bank Plc	GUARANTY NL	40,343,335	3,258,715	6.19
	Safaricom Plc	SAFCOM KN	11,683,800	3,093,929	5.87
	Attijariwafa Bank	ATW MC	51,024	2,510,171	4.77
	Commercial International Bank Egypt Sae	CBKD LI	476,917	2,196,203	4.17
	Mtn Nigeria Communications Plc	MTNN NL	5,859,279	2,115,175	4.02
	Zenith Bank Plc	ZENITHBA NL	38,303,220	1,981,384	3.76
	Tullow Oil Plc	TLW LN	730,319	1,918,363	3.64
	Maroc Telecom	IAM MC	129,771	1,890,357	3.59
	Banque Centrale Populaire	BCP MC	59,713	1,641,653	3.12
Top 10 Total (%)					46.47

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

Country Weightings (%) as of 09/30/19

Country
% of Net Assets
■
South Africa
37.09
■
Morocco
10.66
■
Nigeria
9.95
■
Kenya
8.52
■
Canada
6.55
■
Egypt
4.90
■
Ghana
4.79
■
Uae
3.59
■
Zambia
3.04
■
Switzerland
2.92
■
China
2.26
■
United Kingdom
2.02
■
Germany
1.44
■
India
0.76
■
Singapore
0.75
■
United States
0.38
■
Zimbabwe
0.01
■
Other/Cash
0.38

Sector Weightings (%) as of 09/30/19

Sector
% of Net Assets
■
Financials
36.9
■
Materials
19.1
■
Communication Services
15.5
■
Consumer Discretionary
11.1
■
Consumer Staples
9.1
■
Energy
5.0
■
Real Estate
1.4
■
Health Care
0.9
■
Industrials
0.6
■
Other/Cash
0.4

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AFKVanEck Vectors Africa Index ETF