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MWMZX
VanEck Morningstar Wide Moat Fund - Class Z

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VanEck Vectors Morningstar International Moat ETF

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VanEck Vectors Morningstar Global Wide Moat ETF

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MOAT
VanEck Vectors Morningstar Wide Moat ETF

Fund Description

VanEck Vectors Morningstar Wide Moat ETF (MOAT^®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Morningstar^® Wide Moat Focus Index^SM (MWMFTR), which is intended to track the overall performance of attractively priced companies with sustainable competitive advantages according to Morningstar's equity research team.

Fund Ticker
MOAT
Exchange
NYSE Arca
Commencement
04/24/2012
ETF Structure
Physical
Administrator
Van Eck Associates
Custodian
Bank of New York Mellon
Index Ticker
MWMFTR
Index Reconstitution
Semi-Annually, Staggered quarterly

as of 10/16/19

30-Day SEC Yield¹
1.83%
Total Net Assets
$2.5B
Number of Holdings
51
Options
Available
Gross Expense Ratio²
0.49%
Net Expense Ratio/TER²
0.49%
Distribution Frequency
Annual
Next Distribution Date
12/20/2019

Morningstar™ Ratings³
as of 09/31/2019

Category	Overall	3 Year	5 Year
Large Blend	4 stars of 1222 funds	5 stars of 1222 funds	4 stars of 1086 funds

Key Points

Wide Moat Companies
A focus on U.S. companies Morningstar believes possess sustainable competitive advantages, or “moats”

Focus on Valuations
Index targets companies trading at attractive prices relative to Morningstar’s estimate of fair value

Morningstar’s Equity Research
Index fueled by Morningstar’s forward-looking, rigorous equity research process driven by over 100 analysts globally

Trading Information

Fund Ticker
MOAT
Index Total Return Ticker
MWMFTR
NAV
MOATNV
Intraday NAV (IIV)⁴
MOATIV
Shares Outstanding
50,450,000
Estimated Cash
MOATEU
Total Cash
MOATTC
CUSIP
92189F643
ISIN
US92189F6438

Source: Bloomberg

Fees and Expenses²

Management Fee
0.45%
Other Expenses
0.04%
Gross Expense Ratio
0.49%
Fee Waivers and
Expense Reimbursement
--
Net Expense Ratio/TER²
0.49%

²Expenses for MOAT are capped contractually at 0.49% until February 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
MOAT	$50.53 $50.53	291,656 238,856	-$0.30 / -0.59% $-0.32 / -0.63%	+22.82% +22.74%	$0.00 0.00%

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

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 04/24/12
MOAT (NAV)	3.72	4.26	21.85	9.21	15.34	11.54	--	14.39
MOAT (Share Price)	3.79	4.41	21.81	9.21	15.30	11.52	--	14.40
MWMFTR (Index)	3.79	4.42	22.31	9.77	15.92	12.15	14.38	14.97
Performance Differential (NAV - Index)	-0.07	-0.16	-0.46	-0.56	-0.58	-0.61	--	-0.58
S&P 500 Index	1.87	1.70	20.55	4.25	13.39	10.84	13.24	13.33

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 04/24/12
MOAT (NAV)	3.72	4.26	21.85	9.21	15.34	11.54	--	14.39
MOAT (Share Price)	3.79	4.41	21.81	9.21	15.30	11.52	--	14.40
MWMFTR (Index)	3.79	4.42	22.31	9.77	15.92	12.15	14.38	14.97
Performance Differential (NAV - Index)	-0.07	-0.16	-0.46	-0.56	-0.58	-0.61	--	-0.58
S&P 500 Index	1.87	1.70	20.55	4.25	13.39	10.84	13.24	13.33

*Returns less than one year are not annualized.

Effective June 20, 2016, Morningstar implemented several changes to the Morningstar Wide Moat Focus Index construction rules. Among other changes, the index increased its constituent count from 20 stocks to at least 40 stocks and modified its rebalance and reconstitution methodology. These changes may result in more diversified exposure, lower turnover, and longer holding periods for index constituents than under the rules in effect prior to this date. Past performance is no guarantee of future results.

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: 51

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full data

	Holding Name	Ticker	Shares	Market Value (US$)	% of Net Assets
	Nike Inc	NKE US	717,137	67,353,507	2.71
	Kellogg Co	K US	1,031,413	66,371,427	2.67
	Zimmer Biomet Holdings Inc	ZBH US	477,425	65,536,130	2.64
	Wells Fargo & Co	WFC US	1,283,882	64,759,008	2.60
	Medtronic Plc	MDT US	591,618	64,261,547	2.58
	Dominion Energy Inc	D US	781,352	63,320,766	2.55
	United Technologies Corp	UTX US	463,724	63,307,600	2.55
	Bristol-Myers Squibb Co	BMY US	1,245,965	63,182,885	2.54
	Intel Corp	INTC US	1,223,407	63,042,163	2.54
	Emerson Electric Co	EMR US	942,055	62,985,797	2.53
Top 10 Total (%)					25.91

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
■
United States
99.98
■
Other/Cash
0.02

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

Sector
% of Net Assets
■
Health Care
22.3
■
Information Technology
18.2
■
Financials
12.6
■
Industrials
11.2
■
Consumer Discretionary
11.1
■
Consumer Staples
8.9
■
Communication Services
6.1
■
Energy
4.6
■
Utilities
2.5
■
Materials
2.4
■
Other/Cash
0.0

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