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Investment Strategies

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Guided Allocation

MAAX
VanEck Vectors Municipal Allocation ETF

Fund Description

VanEck Vectors® Municipal 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
  • Commencement

    05/15/2019
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company

 
as of 04/03/20

  • 30-Day SEC Yield1

    3.55%
  • Total Net Assets

    $6.9M
  • Number of Holdings

    3
  • Options

    Expected
  • Gross Expense Ratio2

    0.38%
  • Net Expense Ratio/TER2

    0.38%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    04/30/2020

Geographical Weightings (%) as of 02/29/20

  • State

    % of Net Assets
  • California

    13.6
  • New York

    12.3
  • Illinois

    8.3
  • Texas

    7.5
  • Florida

    5.3
  • New Jersey

    5.0
  • Ohio

    4.8
  • Pennsylvania

    4.4
  • Colorado

    2.7
  • Massachusetts

    2.5
  • Puerto Rico

    2.2
  • Wisconsin

    2.0
  • Washington

    1.9
  • Arizona

    1.8
  • Georgia

    1.5
  • Maryland

    1.4
  • Michigan

    1.4
  • Alabama

    1.3
  • District of Columbia

    1.3
  • Tennessee

    1.3
  • Other

    17.8

Portfolio Composition (%)
as of 02/29/20

  • % of Net Assets
  • Stocks

    99.79
  • Bonds

    0.00
  • Other

    0.00
  • Cash

    0.21

Currency Exposure (%)
as of 02/29/20

  • U.S. Dollar

    99.79
  • Other/Cash

    0.21

Credit Quality (%) as of 02/29/20

Composite % of Net Assets
Investment Grade AAA 8.62
AA 25.53
A 12.96
BBB 18.85
Non-Investment Grade BB 9.10
B 3.65
CCC 2.73
Total Investment Grade -- 65.96
Total Non-Investment Grade -- 15.48
Not Rated -- 17.69
Source: Barclays.  Rating is a proprietary composite of various rating agencies.

3-YR Risk Measures*

  • Beta vs. S&P 500 Index

    --
  • Correlation vs. S&P 500 Index

    --
  • Volatility (Standard Deviation)

    --
  • Sharpe Ratio

    --

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.9

Sector Weightings (%) as of 02/29/20

  • Sector

    % of Net Assets
  • Health Care

    18.4
  • Local

    11.2
  • Special Tax

    10.3
  • Transportation

    9.9
  • Industrial Revenue

    9.2
  • State

    8.2
  • Education

    7.9
  • Tobacco

    6.7
  • Water & Sewer

    5.8
  • Leasing

    5.6
  • Housing

    2.9
  • Power

    2.8
  • Cash

    0.9
  • Unassigned

    0.2
  • Solid Waste/Res Recovery

    0.0

Maturity (%) as of 02/29/20

 Average Portfolio Maturity: 18.67 Years