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ITM
VanEck Vectors AMT-Free Intermediate Municipal Index ETF

Fund Description

The VanEck Vectors® AMT-Free Intermediate Municipal Index ETF (ITM®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays AMT-Free Intermediate Continuous Municipal Index (LMT2TR), which is intended to track the overall performance of the U.S. dollar denominated intermediate-term tax-exempt bond market.

 
 

  • Fund Ticker

    ITM
  • Exchange

    Cboe
  • Commencement

    12/04/2007
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    Bank of New York Mellon
  • Index Ticker

    LMT2TR
  • Index Rebalancing

    Monthly
  • 2019 NAIC Designation7

    1

 
as of 08/22/19

  • 30-Day SEC Yield1

    1.42%
  • Total Net Assets

    $1.9B
  • Number of Holdings

    2878
  • Options

    Available
  • Gross Expense Ratio2

    0.24%
  • Net Expense Ratio/TER2

    0.24%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    08/30/2019
1, 2, 7 See Important Disclosure

Geographical Weightings (%) as of 07/31/19

  • State

    % of Net Assets
  • California

    15.3
  • New York

    15.0
  • Texas

    9.4
  • Pennsylvania

    4.8
  • Florida

    4.4
  • Illinois

    4.3
  • Washington

    3.7
  • New Jersey

    3.6
  • Maryland

    3.1
  • Massachusetts

    3.1
  • Connecticut

    2.6
  • Ohio

    2.4
  • Virginia

    2.1
  • Michigan

    2.0
  • Arizona

    1.5
  • North Carolina

    1.5
  • Wisconsin

    1.5
  • Georgia

    1.4
  • Colorado

    1.4
  • Oregon

    1.3
  • Other

    15.6

Portfolio Composition (%)
as of 07/31/19

  • % of Net Assets
  • Stocks

    0.00
  • Bonds

    99.87
  • Other

    0.00
  • Cash

    0.13

Currency Exposure (%)
as of 07/31/19

  • U.S. Dollar

    99.87
  • Other/Cash

    0.13

Credit Quality (%) as of 07/31/19

Composite % of Net Assets
Investment Grade AAA 17.49
AA 55.79
A 20.67
BBB 5.96
Non-Investment Grade BB --
Total Investment Grade -- 99.91
Total Non-Investment Grade -- --
Not Rated -- 0.09
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

3-YR Risk Measures*
as of 07/31/19

  • Beta vs. S&P 500 Index

    -0.03
  • Correlation vs. S&P 500 Index

    -0.08
  • Volatility (Standard Deviation)

    4.29
  • Sharpe Ratio

    0.31

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 07/31/19

 Average Portfolio Maturity: 10.98 Years

Sector Weightings (%) as of 07/31/19

  • Sector

    % of Net Assets
  • State

    20.2
  • Local

    17.7
  • Transportation

    11.9
  • Special Tax

    11.5
  • Water & Sewer

    10.1
  • Leasing

    6.9
  • Health Care

    6.6
  • Education

    6.5
  • Power

    5.3
  • Housing

    1.5
  • Tobacco

    1.1
  • Industrial Revenue

    0.5
  • Unassigned

    0.1
  • Solid Waste/Res Recovery

    0.1