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MAAXVanEck Vectors Muni Allocation ETF
Fund Description
VanEck Vectors® Muni Allocation ETF (MAAX) seeks maximum long-term after-tax return consisting of capital appreciation and income generally exempt from federal income tax. In pursuing long-term total return, the Fund seeks to reduce duration and/or credit risk during appropriate times by allocating primarily to VanEck Vectors municipal exchange-traded products that invest in tax-exempt bonds.
-
Fund Ticker
MAAX -
Exchange
Cboe -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Custodian
State Street Bank and Trust Company
as of 01/21/21
-
30-Day SEC Yield1
2.76% -
Total Net Assets
$5.0M -
Number of Holdings
4 -
Options
Expected -
Gross Expense Ratio2
0.35% -
Net Expense Ratio/TER2
0.35% -
Distribution Frequency
Monthly
1See Important Disclosure.
Key Points
- Guided allocation approach
Allocates among VanEck municipal bond ETFs based on interest rate and credit opportunities
- Seeks maximum total return and income
Performance oriented strategy offers the potential for capital appreciation plus tax-exempt income
- Actively managed
Process uses technical and macroeconomic indicators to guide credit and duration exposure, seeking to avoid market risks when appropriate
Yields
as of 01/21/21
-
30-Day SEC Yield1
2.76% -
Distribution Yield1
2.49% -
12-Month Yield1
2.70% -
Taxable Equivalent 30-Day SEC Yields1a
-
12% Federal Tax Rate
3.14% -
22% Federal Tax Rate
3.54% -
24% Federal Tax Rate
3.63% -
32% Federal Tax Rate
4.06% -
35% Federal Tax Rate
4.25% -
37% Federal Tax Rate
4.38%
Fees & Expenses2
-
Management Fee
0.08% -
Other Expenses
-- -
Acquired Fund Fees and Expenses
0.27% -
Gross Expense Ratio
0.35% -
Fee Waivers andExpense Reimbursement
-- -
Net Expense Ratio/TER2
0.35%
Trading Information
-
Fund Ticker
MAAX -
Index Total Return Ticker
LMBITR -
NAV
MAAXNV -
Intraday NAV (IIV)4
MAAXIV -
Shares Outstanding
200,000 -
Estimated Cash
MAAXEU -
Total Cash
MAAXTC -
CUSIP
92189H508 -
ISIN
US92189H5081
Fundamentals3
as of 01/20/21
-
Yield to Worst
2.10% -
Yield to Maturity
3.15% -
Effective Duration (yrs)
7.33 -
Duration to Worst (yrs)
6.04 -
Modified Duration (yrs)
7.42 -
Spread Duration (yrs)
7.13 -
Years to Maturity
18.09 -
Coupon
4.23% -
AMT
5.59%
Prices as of 01/21/21
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 05/15/19 |
|
---|---|---|---|---|---|---|---|---|
MAAX (NAV) | 1.00 | 2.84 | 0.32 | 0.32 | -- | -- | -- | 2.33 |
MAAX (Share Price) | 1.12 | 2.67 | 0.26 | 0.26 | -- | -- | -- | 2.34 |
Bloomberg Barclays Municipal Bond Index8 | 0.61 | 1.82 | 5.21 | 5.21 | 4.64 | 3.91 | 4.63 | 5.15 |
Performance Differential (NAV - Index) | 0.39 | 1.02 | -4.89 | -4.89 | -- | -- | -- | -2.82 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR | LIFE 05/15/19 |
|
---|---|---|---|---|---|---|---|---|
MAAX (NAV) | 1.00 | 2.84 | 0.32 | 0.32 | -- | -- | -- | 2.33 |
MAAX (Share Price) | 1.12 | 2.67 | 0.26 | 0.26 | -- | -- | -- | 2.34 |
Bloomberg Barclays Municipal Bond Index8 | 0.61 | 1.82 | 5.21 | 5.21 | 4.64 | 3.91 | 4.63 | 5.15 |
Performance Differential (NAV - Index) | 0.39 | 1.02 | -4.89 | -4.89 | -- | -- | -- | -2.82 |
Daily Holdings (%) as of 01/20/21 Download All Fund Holdings »
Ticker
|
Holding Name |
Identifier (FIGI)
|
Shares | Asset Class |
Market Value (US$) |
% of Net Assets |
---|---|---|---|---|---|---|
MLN US
|
VanEck Vectors Long Muni ETF |
BBG000V2BFB2
|
79,732
|
Stock | 1,736,563 | 34.68 |
HYD US
|
VanEck Vectors High Yield Muni ETF |
BBG000C8Z562
|
24,515
|
Stock | 1,528,510 | 30.52 |
ITM US
|
VanEck Vectors Intermediate Muni ETF |
BBG000Q0JKR6
|
28,474
|
Stock | 1,480,079 | 29.56 |
SHYD US
|
VanEck Vectors Short High Yield Muni Et |
BBG005T08329
|
10,089
|
Stock | 253,234 | 5.06 |
--
|
Other/Cash |
--
|
--
|
Cash | 9,424 | 0.19 |
Geographical Weightings (%) as of 12/31/20
-
State
% of Net Assets -
■
New York
14.4 -
■
California
14.4 -
■
Texas
7.8 -
■
Illinois
7.0 -
■
New Jersey
4.9 -
■
Florida
4.6 -
■
Pennsylvania
4.3 -
■
Ohio
3.5 -
■
Massachusetts
2.5 -
■
Colorado
2.4 -
■
Washington
2.2 -
■
Virginia
2.0 -
■
Georgia
1.9 -
■
Maryland
1.8 -
■
Wisconsin
1.8 -
■
Arizona
1.7 -
■
Alabama
1.5 -
■
North Carolina
1.4 -
■
Michigan
1.4 -
■
Puerto Rico
1.4 -
■
Other
17.1
Currency Exposure (%)
as of 12/31/20
-
U.S. Dollar
99.81 -
Other/Cash
0.19
Sector Weightings (%) as of 12/31/20
-
Sector
% of Net Assets -
■
Health Care
15.7 -
■
Local
13.6 -
■
Special Tax
11.5 -
■
Transportation
11.2 -
■
State
9.4 -
■
Education
7.5 -
■
Industrial Revenue
7.3 -
■
Water & Sewer
7.1 -
■
Leasing
6.0 -
■
Tobacco
4.1 -
■
Housing
3.2 -
■
Power
2.7 -
■
Cash
0.7 -
■
Unassigned
0.1 -
■
Solid Waste/Res Recovery
0.0
Credit Quality (%) as of 12/31/20
Composite | % of Net Assets | |
---|---|---|
Investment Grade | AAA | 10.46 |
AA | 33.69 | |
A | 15.28 | |
BBB | 14.27 | |
Non-Investment Grade | BB | 8.05 |
B | 2.71 | |
CCC | 1.49 | |
Total Investment Grade | -- | 73.70 |
Total Non-Investment Grade | -- | 12.25 |
Not Rated | -- | 13.39 |
Maturity (%) as of 12/31/20
Average Portfolio Maturity: 18.09 Years