BUZZ Investing: Fed’s Glimmer of Hope Amid Market Corrections
March 21, 2025
Read Time 6 MIN
During the recent period between index selection dates (February 12, 2025 – March 13, 2025, the “Period”), U.S. stock markets faced a steep decline, with the S&P 500 falling 8.6% and the Nasdaq Composite dropping 11.9%, signaling a shift from the turbulence of February into a more pronounced downturn. The escalation came as the Trump administration’s tariff policies began to take shape, targeting major trading partners like Canada, Mexico, and China, unsettling investors with the prospect of higher costs, supply chain strains, and retaliatory trade measures. At the same time, economic indicators painted a gloomier picture, with softening job growth, rising unemployment, and persistent concerns about consumer spending amplifying fears of a slowdown. The tech sector, a key driver of earlier gains, took a significant hit as investor sentiment soured, particularly around high-profile names tied to AI and electric vehicles, where weakening demand and regulatory pressures added to the woes. Amid this uncertainty, a flight to safety boosted demand for U.S. government bonds, pushing Treasury yields lower as equities struggled to regain traction.
The broader market mood during this period was shaped by a mix of policy uncertainty and macroeconomic challenges, overshadowing fleeting moments of relief. While a slightly lower-than-expected inflation reading offered a brief glimmer of hope for potential Federal Reserve rate adjustments, the overriding concerns about tariffs and economic health quickly erased any gains, with the Nasdaq hitting correction territory on March 6 and the S&P 500 entering correction territory, defined as a decline of more than 10% from its recent peak, on March 13. Defensive sectors, such as utilities and consumer staples, showed relative resilience as investors pivoted away from riskier assets amid the deepening sell-off. Corporate earnings reports further highlighted vulnerabilities, with consumer-facing companies signaling caution amid signs of weakening demand, contrasting with earlier optimism tied to technological innovation. Analysts adjusted their outlooks downward, reflecting a market increasingly weighed down by external pressures and a reassessment of the post-election rally, marking a stark departure from the buoyancy seen earlier in the year.
The BUZZ NextGen AI U.S. Sentiment Leaders Index ("BUZZ Index") returned -3.73% during the month of February compared to a return of -1.30% for the S&P 500 Index during the same period. Year-to-date, the BUZZ Index lags the S&P 500 with returns of -1.17% and 1.44%, respectively, as of the end of February.
Shares of Celsius Holdings Pace BUZZ Index Gains
Shares of Celsius Holdings (NASDAQ: CELH) emerged as standout in the BUZZ Index during the recent Period, climbing approximately 25%, fueled by a combination of strong quarterly results and a strategic acquisition. The energy drink maker reported earnings and sales that surpassed Wall Street forecasts, boosting investor confidence at a time when the stock had been under pressure from slowing growth and distribution challenges. The announcement of its $1.8 billion acquisition of Alani Nu, a fast-growing rival with a strong social-media-driven following, further energized the stock, potentially positioning Celsius to bolster its market share and tap into new consumer segments. This surge may reflect renewed optimism about the company’s ability to navigate a competitive landscape and reignite its growth trajectory despite broader concerns about consumer spending and intensifying rivalry in the energy drink sector.
BUZZ Index Reconstitution Report
Top BUZZ Index Contributors: February 12, 2025 – March 13, 2025
| Company | Ticker | Average Weight (%) | Return Contribution (%) |
| Micron Technology Inc | MU | 1.43 | 0.20 |
| Celsius Holdings Inc | CELH | 1.54 | 0.19 |
| Walgreens Boots Alliance Inc | WBA | 0.95 | 0.12 |
| Intel Corp | INTC | 3.12 | 0.12 |
| Lockheed Martin Corp | LMT | 0.81 | 0.06 |
| Unity Software Inc | U | 0.87 | 0.05 |
| Vertex Pharmaceuticals Inc | VRTX | 0.69 | 0.04 |
| Super Micro Computer Inc | SMCI | 3.74 | 0.04 |
| Moderna Inc | MRNA | 0.68 | 0.04 |
| Dollar General Corp | DG | 0.35 | 0.02 |
Source: BUZZ Holdings ULC, Bloomberg. Past performance is no guarantee of future results. Index performance is not illustrative of fund performance. Not intended as a recommendation to buy or to sell any of the securities mentioned herein.
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Shares of Trump Media & Technology Among Declining Stocks in the BUZZ Index
During the recent period, shares of Palantir Technologies (NASDAQ: PLTR), Trump Media & Technology Group (NASDAQ: DJT), and Hims & Hers Health (NYSE: HIMS) saw substantial declines of 32.2%, 37.0%, and 31.9%, respectively, negatively impacting BUZZ Index performance amidst a broader market downturn fueled by tariff uncertainties and economic slowdown concerns. Palantir’s drop may have been influenced by worries over its heavy reliance on government contracts, which account for a significant portion of its revenue, as reports surfaced of potential Pentagon budget cuts under the Trump administration, alongside a lofty valuation that left little room for error. DJT faced turbulence as its stock, closely tied to political sentiment, wavered with shifting perceptions of the administration’s policy direction, compounded by skepticism about its long-term business viability after a volatile run. Hims & Hers Health stumbled as signs of softening consumer spending hit the telehealth and wellness sector, with additional pressure from competitive pricing moves by rivals eroding confidence in its growth prospects.
Bottom BUZZ Index Contributors: February 12, 2025 – March 13, 2025
| Company | Ticker | Average Weight (%) | Return Contribution (%) |
| Palantir Technologies Inc | PLTR | 3.08 | -1.05 |
| Trump Media & Tech Group | DJT | 2.46 | -1.04 |
| Hims & Hers Health Inc | HIMS | 2.89 | -0.98 |
| Tesla Inc | TSLA | 2.66 | -0.88 |
| Coinbase Global Inc | COIN | 1.72 | -0.81 |
| Rocket Lab USA Inc | RKLB | 1.74 | -0.73 |
| MARA Holdings Inc | MARA | 2.68 | -0.72 |
| SoFi Technologies Inc | SOFI | 2.97 | -0.70 |
| IonQ Inc | IONQ | 1.35 | -0.69 |
| SoundHound AI Inc | SOUN | 1.31 | -0.67 |
Source: BUZZ Holdings ULC, Bloomberg. Past performance is no guarantee of future results. Index performance is not illustrative of fund performance. Not intended as a recommendation to buy or to sell any of the securities mentioned herein.
BUZZ Index March 2025 Rebalance Highlights
Marvell Technology Inc.
The stock market has encountered broad selling pressure, with momentum stocks among those experiencing significant declines. The “Magnificent Seven” tech leaders have seen notable pullbacks since mid-February, potentially driven by concerns over looming tariffs, geopolitical uncertainties, and possible liquidations from large investors. Many of last year’s highflyers have slipped into correction territory and face further challenges reporting earnings in this difficult environment. Marvell Technology (NASDAQ: MRVL) may exemplify this trend, as the company reported earnings in early March that appeared to meet expectations, yet its stock still fell sharply, possibly reflecting broader worries about softening semiconductor demand in data centers and automotive sectors, alongside ongoing supply chain issues. Despite this, a “buy-the-dip” attitude seems to be gaining traction among some investors, and this month, MRVL has secured a 0.51% weighting in the BUZZ Index, suggesting cautious optimism may be present amidst the market’s challenges.
The Trade Desk, Inc.
The Trade Desk (NASDAQ: TTD) is the latest high-growth stock to come under pressure following a weaker-than-expected earnings report. In early February, the company’s Q4 revenue fell short of Wall Street estimates, largely due to a slower-than-anticipated rollout of its Kokai advertising platform. As a leader in digital marketing automation, The Trade Desk has seen substantial appreciation since its 2016 IPO, making this revenue miss a rare event—only the second in its history as a public company. Over the past month, TTD shares have faced considerable declines, driven not only by company-specific factors but also by broader market dynamics, as investors shift away from high-growth names and reassess valuations. However, signs of stabilization within the investor sentiment suggest that some may now view the pullback as a buying opportunity. Reflecting this, TTD re-enters the BUZZ Index this month with a 1.72% weighting.
BUZZ | VanEck Social Sentiment ETF
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Important Disclosures
Company data is the source for all particular company information quoted.
Definitions: The S&P 500 is a stock market index of 500 of the largest companies listed on stock exchanges in the United States. The Nasdaq Composite Index is a stock market index that consists of the stocks that are listed on the Nasdaq stock exchange. S&P Banks Select Industry Index comprises stocks in the S&P Total Market Index that are classified in the GICS asset management & custody banks, diversified banks, regional banks, other diversified financial services and thrifts & mortgage finance sub-industries. Markit CDX North America High Yield Index represents one hundred liquid North American entities with high yield credit ratings as published by Markit. COBE VIX Index is a real-time market index representing the market's expectations for volatility over the coming 30 days.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities/financial instruments mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of 3rd party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck.
An investment in the Fund may be subject to risks which include, among others, risks related to social media analytics, equity securities, medium-capitalization companies, information technology sector, communication services sector, consumer discretionary sector, market, operational, high portfolio turnover, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified and index-related concentration risks, all of which may adversely affect the Fund. Medium-capitalization companies may be subject to elevated risks.
Investing in companies based on social media analytics involves the potential risk of market manipulation because social media posts may be made with an intent to inflate, or otherwise manipulate, the public perception of a company stock or other investment. Although the Sentiment Leaders Index provider attempts to mitigate the potential risk of such manipulation by employing screens to identify posts which may be computer generated or deceptive and by employing market capitalization and trading volume criteria to remove companies which may be more likely targets for such manipulation, there is no guarantee that the Sentiment Leaders Index's model will successfully reduce such risk. Furthermore, text and sentiment analysis of social media postings may prove inaccurate in predicting a company's stock performance.
An investor cannot invest directly in an index. Returns reflect past performance and do not guarantee future results. Results reflect the reinvestment of dividends and capital gains, if any. Certain indices may take into account withholding taxes. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.
BUZZ NextGen AI U.S. Sentiment Leaders Index (the “BUZZ Index”) is a product of BUZZ Holdings ULC (“BUZZ Holdings”), and has been licensed to Van Eck Associates Corporation for use in connection with the VanEck Social Sentiment ETF.
“BUZZ” is a trademark of BUZZ Holdings, which has been licensed by Van Eck Associates Corporation for use in connection with the BUZZ Index.
VanEck Social Sentiment ETF is not sponsored, endorsed, sold or promoted by BUZZ Holdings, or its shareholders, or the licensor of the BUZZ Index and/or its affiliates and third party licensors. BUZZ Holdings makes no representation or warranty, express or implied, to the owners of the VanEck Social Sentiment ETF or any member of the public regarding the advisability of investing in securities generally or in VanEck Social Sentiment ETF, particularly or the ability of the BUZZ Index to track general market performance.
BUZZ Holdings’ only relationship to Van Eck Associates Corporation with respect to the BUZZ Index is the licensing of the BUZZ Index and certain trademarks of BUZZ Holdings. The BUZZ Holdings are determined and composed by BUZZ Holdings without regard to Van Eck Associates Corporation or the VanEck Social Sentiment ETF. BUZZ Holdings has no obligation to take the needs of Van Eck Associates Corporation or the owners of VanEck Social Sentiment ETF into consideration in determining and composing the BUZZ Index.
BUZZ Holdings are not responsible for and have not participated in the determination of the prices of VanEck Social Sentiment ETF or the timing of the issuance or sale of securities of VanEck Social Sentiment ETF or in the determination or calculation of the equation by which VanEck Social Sentiment ETF securities may be converted into cash, surrendered, or redeemed, as the case may be. BUZZ Holdings have no obligation or liability in connection with the administration, marketing or trading of VanEck Social Sentiment ETF. There is no assurance that investment products based on the BUZZ Index will accurately track index performance or provide positive investment returns. BUZZ Holdings is not an investment advisor and the inclusion of a security in the BUZZ Index is not a recommendation by BUZZ Holdings to buy, sell, or hold such security, nor should it be considered investment advice.
BUZZ HOLDINGS DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE BUZZ INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION WITH RESPECT THERETO, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS). BUZZ HOLDINGS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. BUZZ HOLDINGS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY Van Eck Associates Corporation, OWNERS OF THE VanEck Social Sentiment ETF, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BUZZ INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL BUZZ HOLDINGS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN BUZZ HOLDINGS AND Van Eck Associates Corporation, OTHER THAN THE LICENSORS OF BUZZ HOLDINGS.
Effective August 18, 2016, BUZZ Indexes Inc. implemented changes to the BUZZ NextGen AI U.S. Sentiment Leaders Index construction rules. The index constituent count was increased from 25 to 75 stocks and the maximum constituent weight was reduce from 15% to 3%. These change may result in more a diversified exposure to index constituents than under the rules in effect prior to this date. Past performance is no guarantee of future results.
The S&P 500® Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Van Eck Associates Corporation. Copyright © 2025 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit https://www.spglobal.com/spdji/en/. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.
Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.
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Important Disclosures
Company data is the source for all particular company information quoted.
Definitions: The S&P 500 is a stock market index of 500 of the largest companies listed on stock exchanges in the United States. The Nasdaq Composite Index is a stock market index that consists of the stocks that are listed on the Nasdaq stock exchange. S&P Banks Select Industry Index comprises stocks in the S&P Total Market Index that are classified in the GICS asset management & custody banks, diversified banks, regional banks, other diversified financial services and thrifts & mortgage finance sub-industries. Markit CDX North America High Yield Index represents one hundred liquid North American entities with high yield credit ratings as published by Markit. COBE VIX Index is a real-time market index representing the market's expectations for volatility over the coming 30 days.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities/financial instruments mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of 3rd party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck.
An investment in the Fund may be subject to risks which include, among others, risks related to social media analytics, equity securities, medium-capitalization companies, information technology sector, communication services sector, consumer discretionary sector, market, operational, high portfolio turnover, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified and index-related concentration risks, all of which may adversely affect the Fund. Medium-capitalization companies may be subject to elevated risks.
Investing in companies based on social media analytics involves the potential risk of market manipulation because social media posts may be made with an intent to inflate, or otherwise manipulate, the public perception of a company stock or other investment. Although the Sentiment Leaders Index provider attempts to mitigate the potential risk of such manipulation by employing screens to identify posts which may be computer generated or deceptive and by employing market capitalization and trading volume criteria to remove companies which may be more likely targets for such manipulation, there is no guarantee that the Sentiment Leaders Index's model will successfully reduce such risk. Furthermore, text and sentiment analysis of social media postings may prove inaccurate in predicting a company's stock performance.
An investor cannot invest directly in an index. Returns reflect past performance and do not guarantee future results. Results reflect the reinvestment of dividends and capital gains, if any. Certain indices may take into account withholding taxes. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.
BUZZ NextGen AI U.S. Sentiment Leaders Index (the “BUZZ Index”) is a product of BUZZ Holdings ULC (“BUZZ Holdings”), and has been licensed to Van Eck Associates Corporation for use in connection with the VanEck Social Sentiment ETF.
“BUZZ” is a trademark of BUZZ Holdings, which has been licensed by Van Eck Associates Corporation for use in connection with the BUZZ Index.
VanEck Social Sentiment ETF is not sponsored, endorsed, sold or promoted by BUZZ Holdings, or its shareholders, or the licensor of the BUZZ Index and/or its affiliates and third party licensors. BUZZ Holdings makes no representation or warranty, express or implied, to the owners of the VanEck Social Sentiment ETF or any member of the public regarding the advisability of investing in securities generally or in VanEck Social Sentiment ETF, particularly or the ability of the BUZZ Index to track general market performance.
BUZZ Holdings’ only relationship to Van Eck Associates Corporation with respect to the BUZZ Index is the licensing of the BUZZ Index and certain trademarks of BUZZ Holdings. The BUZZ Holdings are determined and composed by BUZZ Holdings without regard to Van Eck Associates Corporation or the VanEck Social Sentiment ETF. BUZZ Holdings has no obligation to take the needs of Van Eck Associates Corporation or the owners of VanEck Social Sentiment ETF into consideration in determining and composing the BUZZ Index.
BUZZ Holdings are not responsible for and have not participated in the determination of the prices of VanEck Social Sentiment ETF or the timing of the issuance or sale of securities of VanEck Social Sentiment ETF or in the determination or calculation of the equation by which VanEck Social Sentiment ETF securities may be converted into cash, surrendered, or redeemed, as the case may be. BUZZ Holdings have no obligation or liability in connection with the administration, marketing or trading of VanEck Social Sentiment ETF. There is no assurance that investment products based on the BUZZ Index will accurately track index performance or provide positive investment returns. BUZZ Holdings is not an investment advisor and the inclusion of a security in the BUZZ Index is not a recommendation by BUZZ Holdings to buy, sell, or hold such security, nor should it be considered investment advice.
BUZZ HOLDINGS DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE BUZZ INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION WITH RESPECT THERETO, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS). BUZZ HOLDINGS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. BUZZ HOLDINGS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY Van Eck Associates Corporation, OWNERS OF THE VanEck Social Sentiment ETF, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE BUZZ INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL BUZZ HOLDINGS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN BUZZ HOLDINGS AND Van Eck Associates Corporation, OTHER THAN THE LICENSORS OF BUZZ HOLDINGS.
Effective August 18, 2016, BUZZ Indexes Inc. implemented changes to the BUZZ NextGen AI U.S. Sentiment Leaders Index construction rules. The index constituent count was increased from 25 to 75 stocks and the maximum constituent weight was reduce from 15% to 3%. These change may result in more a diversified exposure to index constituents than under the rules in effect prior to this date. Past performance is no guarantee of future results.
The S&P 500® Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Van Eck Associates Corporation. Copyright © 2025 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit https://www.spglobal.com/spdji/en/. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.
Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.