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Income Investing Yield Monitor

Below is the latest data and yields for VanEck’s income investing solutions.

VanEck®Income ETFs: Yield Monitor
VanEck
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Van Eck Securities Corporation, Distributor

A wholly-owned subsidiary of Van Eck Associates Corporation

666 Third Avenue | New York, NY 10017

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Mutual funds | Exchange-traded funds | Institutional funds | Separately managed accounts | UCITS

Income Investing Insights

To help investors stay informed in an ever-changing interest rate environment, we offer monthly commentary on income investing, covering the latest news, trends and investment opportunities.

Income Investing Insights

VanEck Income ETFs

August 2024

Ticker Fund Name 30 Day SEC Yield (%)4 Duration (Yrs) Gross Expense Net Expense
Ticker Fund Name 30 Day SEC Yield (%)4 Duration (Yrs) Gross Expense Net Expense
Corporate Bonds
ANGL
Fallen Angel High Yield Bond ETF
 6.47 4.97 2 0.25 0.25
MBBB
Moody’s Analytics BBB Corporate Bond ETF
 4.98 6.56 2 0.25 0.25
MIG
Moody’s Analytics IG Corporate Bond ETF
 4.82 6.51 2 0.20 0.20
Equity Income
DURA
Durable High Dividend ETF
 3.04 -- 0.30 0.30
EINC
Energy Income ETF
 3.99 -- 0.46 0.46
MORT
Mortgage REIT Income ETF
 11.88 -- 0.43 0.43
PFXF
Preferred Securities ex Financials ETF
 6.59 -- 0.40 0.40
Floating Rate
BIZD
BDC Income ETF
 10.68 -- 13.33 13.33
CLOI
CLO ETF
 6.67 -- 0.40 0.40
FLTR
IG Floating Rate ETF
 6.00 -0.08 2 0.14 0.14
International Bond
CBON
China Bond ETF
 1.40 2.73 3 0.79 0.51
HYEM
Emerging Markets High Yield Bond ETF
 7.26 3.33 2 0.40 0.40
GRNB
Green Bond ETF
 4.75 4.86 2 0.20 0.20
IHY
International High Yield Bond ETF
 5.96 3.13 2 0.40 0.40
EMLC
J.P. Morgan EM Local Currency Bond ETF
 6.18 5.01 2 0.31 0.30
Municipal Bond
XMPT
CEF Muni Income ETF
 4.39 7.00 1 1.98 1.98
HYD
High Yield Muni ETF
 4.24 6.65 1 0.32 0.32
SMI
HIP Sustainable Muni ETF
 3.30 5.85 1 0.24 0.24
ITM
Intermediate Muni ETF
 3.07 5.09 1 0.18 0.18
MLN
Long Muni ETF
 3.67 8.67 1 0.24 0.24
SHYD
Short High Yield Muni ETF
 3.65 3.43 1 0.35 0.35
SMB
Short Muni ETF
 2.75 2.22 1 0.07 0.07
Multi-Asset Income
INC
Dynamic High Income
 5.38 -- 0.41 0.41
Ticker
Corporate Bonds
ANGL
MBBB
MIG
Equity Income
DURA
EINC
MORT
PFXF
Floating Rate
BIZD
CLOI
FLTR
International Bond
CBON
HYEM
GRNB
IHY
EMLC
Municipal Bond
XMPT
HYD
SMI
ITM
MLN
SHYD
SMB
Multi-Asset Income
INC
← Scroll for more information →

Source: VanEck (as of 08/31/24).

1Duration to Worst. 2Effective Duration. 3Modified Duration. 430-Day SEC Yield is calculated daily, and is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons primarily among bond funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the Fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the Fund over the last 12 months assuming the most recent NAV. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yields on 08/31/24 would have been as follows - CBON: 0.94%, EMLC: 6.16% . Expenses for CBON and EMLC are contractually capped. Expense caps exclude acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses. Expense Caps: CBON: 0.50%, EMLC: 0.30% . Expenses for ANGL, BIZD, DURA, EINC, FLTR, GRNB, HYD, HYEM, IHY, ITM, MBBB, MIG, MLN, MORT, PFXF, SHYD, SMB, SMI, XMPT are unitary fees. Van Eck Associates Corporation (the “Adviser”) will pay all expenses of these Funds, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Expense ratios are as of the most recent prospectus. Past performance is no guarantee of future results. Please see the prospectus of each fund for more detailed information on expenses.

Source: VanEck (as of 08/31/24) Past performance is no guarantee of future results. Please see the prospectus of each fund for more detailed information on expenses.  

Morningstar ETF Category Flows

Estimated Net Flow ($M)
Morningstar Category Name 1 MO QTD YTD 1 YR
Morningstar Category Name 1 MO QTD YTD 1 YR
Long Government 7,396 10,503 22,013 36,015
Ultrashort Bond 4,378 8,020 26,161 37,285
Intermediate Government 3,364 7,138 25,317 31,072
Long-Term Bond 1,687 3,397 5,959 6,740
Short-Term Bond 1,680 2,769 2,621 -3,164
Muni National Interm 1,368 3,924 6,360 14,428
High Yield Bond 665 4,079 9,211 18,344
Emerging Markets Bond 587 825 872 2,414
High Yield Muni 128 255 402 1,335
Muni National Long 47 116 279 435
Muni National Short 17 445 521 620
Short Government -640 905 -5,297 -7,074
Bank Loan -2,636 -1,262 4,574 7,577
Morningstar Category Name
Long Government
Ultrashort Bond
Intermediate Government
Long-Term Bond
Short-Term Bond
Muni National Interm
High Yield Bond
Emerging Markets Bond
High Yield Muni
Muni National Long
Muni National Short
Short Government
Bank Loan
← Scroll for more information →
Source: Morningstar (as of 08/31/24). Not representative of fund or fund indices. 

Investment Category Yields

Yield to Worst (%)
Category 08/31/24 07/31/24 08/31/23
Category 08/31/24 07/31/24 08/31/23
EM USD High Yield Aggregate 9.20 9.52 11.02
EM USD Sovereigns 7.89 8.18 8.51
U.S. High Yield Corporates 7.26 7.61 8.47
Global High Yield Corporates 7.11 7.43 8.56
EM Local Currency Sovereigns 6.26 6.37 6.39
EM USD High Yield + IG Corps 5.87 6.18 7.06
Preferred Securities 5.46 5.73 6.24
High Yield Municipals 5.29 5.42 5.87
U.S. Corporates 4.94 5.14 5.61
U.S. Aggregate 4.42 4.64 4.97
TIPS 4.04 4.32 4.61
10 Year Treasuries 3.92 4.05 4.09
Global Aggregate 3.48 3.62 3.91
Municipals 3.45 3.58 3.79
Category
EM USD High Yield Aggregate
EM USD Sovereigns
U.S. High Yield Corporates
Global High Yield Corporates
EM Local Currency Sovereigns
EM USD High Yield + IG Corps
Preferred Securities
High Yield Municipals
U.S. Corporates
U.S. Aggregate
TIPS
10 Year Treasuries
Global Aggregate
Municipals
← Scroll for more information →
FactSet (as of dates indicated). See end for Index Names. Not representative of fund or fund indices. Please see standard performance for these categories below. Past performance is no guarantee of future results.

U.S. Yield Curves

Source: VanEck (as of 08/31/24).  1Duration to Worst. 2Effective Duration. 3Modified Duration. 430-Day SEC Yield. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yields on 08/31/24 would have been as follows - CBON: 0.94%, EMLC: 6.16% . Expenses for CBON and EMLC are contractually capped. Expense caps exclude acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses. Expense Caps: CBON: 0.50%, EMLC: 0.30%. Expenses for ANGL, BIZD, CLOI, DURA, EINC, FLTR, GRNB, HYD, HYEM, IHY, INC, ITM, MBBB, MIG, MLN, MORT, PFXF, SHYD, SMB, SMI, XMPT are unitary fees. Van Eck Associates Corporation (the “Adviser”) will pay all expenses of these Funds, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Expense ratios are as of the most recent prospectus. Please see the prospectus of each fund for more detailed information on expenses.

Treasury Yield Curve

Municipal AAA Yield Curve

Source: VanEck and FactSet. Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio's actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund's movements that can be explained by movements in its benchmark index.

Global 10-Year Sovereign Yields (%)

Source: FactSet and Bloomberg (as of 08/31/24). Based on local currency prices. Past performance is no guarantee of future results.

Investment Category Total Returns (%)

Month-End 08/31/24 Quarter-End 06/30/24
Investment Category 1 MO* YTD* 1 YR 3 YR 5 YR
Month End 08/31/24 Quarter End 06/30/24
Investment Category 1 MO* YTD* 1 YR 3 YR 5 YR
U.S. Aggregate
 1.44 3.07 2.63 -3.01 -0.23
U.S. High Yield Corporates
 1.59 6.29 10.41 1.63 3.71
Global High Yield Corporates
 2.01 6.83 10.61 -0.02 2.80
EM USD High Yield Aggregate
 2.19 10.21 15.55 0.30 1.43
EM USD High Yield + IG Corps
 1.81 6.32 7.67 -1.87 1.28
EM Local Currency Sovereigns
 3.07 1.50 0.67 -3.26 -1.28
EM USD Sovereigns
2.32 6.67 9.23 -2.59 -0.03
U.S. Corporates
 1.57 3.49 4.63 -3.02 0.62
U.S. REITs
 1.48 4.93 7.06 -2.05 1.10
Global Aggregate
 2.37 1.86 0.93 -5.48 -2.01
TIPS
 0.78 3.30 2.71 -1.33 2.06
Municipals
 0.79 1.30 3.21 -0.88 1.16
High Yield Municipals
 1.18 6.52 8.90 0.12 2.99
10 Year Treasuries
 1.38 2.31 -0.84 -5.33 -1.83
Preferred Securities
 3.71 7.02 6.72 -2.66 0.93
U.S. Dividend Stocks
 3.08 16.48 11.44 5.25 8.29
Investment Category Investment Category
U.S. Aggregate
U.S. High Yield Corporates
Global High Yield Corporates
EM USD High Yield Aggregate
EM USD High Yield + IG Corps
EM Local Currency Sovereigns
EM USD Sovereigns
U.S. Corporates
U.S. REITs
Global Aggregate
TIPS
Municipals
High Yield Municipals
10 Year Treasuries
Preferred Securities
U.S. Dividend Stocks
← Scroll for more information →

Source: FactSet (as of dates indicated). *Returns less than one year are not annualized.
The performance quoted represents past performance. Past performance is no guarantee of future results. Not representative of fund or fund indices. The listed indices are unmanaged and are not securities in which an investment can be made. Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Certain indices may take into account withholding taxes. Investors cannot invest directly in the Index.

VanEck Income ETF Total Returns (%)

Month-End 08/31/2024 Quarter-End 06/30/2024
Ticker Fund Name 1 MO* YTD* 1 YR 3 YR 5 YR LIFE Commenced
Corporate Bonds
ANGL
Fallen Angel High Yield Bond ETF
 1.56 4.76 8.99 0.09 4.52 6.71 04/10/2012
MBBB
Moody’s Analytics BBB Corporate Bond ETF
 1.56 4.63 6.51 -2.17 -- -1.30 12/01/2020
MIG
Moody’s Analytics IG Corporate Bond ETF
 1.57 4.30 5.99 -2.25 -- -1.56 12/01/2020
Equity Income
MORT
Mortgage REIT Income ETF
 2.16 5.83 4.50 -7.53 -4.05 3.70 08/16/2011
PFXF
Preferred Securities ex Financials ETF
 3.97 7.21 5.36 -0.45 3.43 4.73 07/16/2012
DURA
Durable High Dividend ETF
 4.18 12.94 3.19 4.19 6.06 7.42 10/30/2018
EINC
Energy Income ETF
 4.09 26.93 29.93 17.40 11.84 -2.78 03/12/2012
Floating Rate
BIZD
BDC Income ETF
 -1.47 8.24 24.58 10.68 11.64 8.03 02/11/2013
FLTR
IG Floating Rate ETF
 0.39 4.93 7.54 3.98 3.20 2.14 04/25/2011
CLOI
CLO ETF
 0.62 5.64 9.15 -- -- 8.46 06/21/2022
International Bond
CBON
China Bond ETF
 1.92 3.23 3.13 -0.50 2.39 1.66 11/10/2014
HYEM
Emerging Markets High Yield Bond ETF
 1.50 9.89 12.38 -1.01 1.76 3.95 05/08/2012
GRNB
Green Bond ETF
 1.51 4.22 5.20 -2.07 0.02 1.50 03/03/2017
IHY
International High Yield Bond ETF
 2.39 5.89 9.13 -2.25 1.22 3.59 04/02/2012
EMLC
J.P. Morgan EM Local Currency Bond ETF
 2.98 0.68 -0.38 -3.45 -1.91 -- 07/22/2010
Municipal Bond
XMPT
CEF Muni Income ETF
 1.96 9.69 8.72 -5.90 0.16 3.89 07/12/2011
HYD
High Yield Muni ETF
 0.76 4.53 5.60 -2.67 -0.12 5.07 02/04/2009
SMI
HIP Sustainable Muni ETF
 0.47 1.54 3.26 -- -- -1.18 09/08/2021
ITM
Intermediate Muni ETF
 0.81 0.75 2.56 -1.77 0.55 3.25 12/04/2007
MLN
Long Muni ETF
 0.51 1.48 3.74 -3.60 -0.10 2.92 01/02/2008
SHYD
Short High Yield Muni ETF
 0.75 3.11 3.50 -1.32 0.69 1.95 01/13/2014
SMB
Short Muni ETF
 0.87 1.89 2.76 -0.30 0.74 1.82 02/22/2008
Multi-Asset Income
INC
Dynamic High Income
 1.91 7.19 8.04 -- -- 9.68 11/01/2022
← Scroll for more information →

Source: FactSet (as of dates indicated). *Returns less than one year are not annualized.
The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

Month-End 08/31/2024 Quarter-End 06/30/2024
Ticker Fund Name 1 MO* YTD* 1 YR 3 YR 5 YR LIFE Commenced
Corporate Bonds
ANGL
Fallen Angel High Yield Bond ETF
 1.46 5.06 8.12 -0.10 4.34 6.68 04/10/2012
MBBB
Moody’s Analytics BBB Corporate Bond ETF
 1.79 4.59 6.21 -2.24 -- -1.31 12/01/2020
MIG
Moody’s Analytics IG Corporate Bond ETF
 1.76 4.51 5.76 -2.30 -- -1.55 12/01/2020
Equity Income
MORT
Mortgage REIT Income ETF
 2.14 5.86 4.22 -7.61 -4.05 3.69 08/16/2011
PFXF
Preferred Securities ex Financials ETF
 3.68 7.30 5.64 -0.44 3.40 4.74 07/16/2012
DURA
Durable High Dividend ETF
 4.19 12.89 3.12 4.14 6.04 7.41 10/30/2018
EINC
Energy Income ETF
 4.08 27.21 29.59 17.49 11.87 -2.78 03/12/2012
Floating Rate
BIZD
BDC Income ETF
 -1.32 8.18 24.63 10.68 11.65 8.04 02/11/2013
FLTR
IG Floating Rate ETF
 0.37 4.94 7.57 3.99 3.24 2.14 04/25/2011
CLOI
CLO ETF
 0.58 5.72 8.88 -- -- 8.42 06/21/2022
International Bond
CBON
China Bond ETF
 1.90 3.19 3.72 -0.43 2.35 1.65 11/10/2014
HYEM
Emerging Markets High Yield Bond ETF
 1.58 10.12 11.40 -1.24 1.58 3.94 05/08/2012
GRNB
Green Bond ETF
 1.58 4.16 5.12 -2.14 0.02 1.52 03/03/2017
IHY
International High Yield Bond ETF
 2.67 5.38 8.37 -2.50 1.13 3.56 04/02/2012
EMLC
J.P. Morgan EM Local Currency Bond ETF
 2.86 1.25 -1.02 -3.49 -1.96 -0.02 07/22/2010
Municipal Bond
XMPT
CEF Muni Income ETF
 1.51 9.38 8.58 -6.04 0.09 3.88 07/12/2011
HYD
High Yield Muni ETF
 -0.07 4.04 5.09 -2.99 -0.27 5.03 02/04/2009
SMI
HIP Sustainable Muni ETF
 0.17 1.67 3.09 -- -- -1.28 09/08/2021
ITM
Intermediate Muni ETF
 0.57 0.37 2.10 -1.92 0.51 3.22 12/04/2007
MLN
Long Muni ETF
 0.05 0.96 3.05 -3.76 -0.15 2.91 01/02/2008
SHYD
Short High Yield Muni ETF
 0.90 3.77 3.46 -1.54 0.64 1.94 01/13/2014
SMB
Short Muni ETF
 0.89 2.25 3.12 -0.41 0.75 1.82 02/22/2008
Multi-Asset Income
INC
Dynamic High Income
 1.85 7.12 8.06 -- -- 9.69 11/01/2022
← Scroll for more information →

Source: FactSet (as of dates indicated). *Returns less than one year are not annualized.
The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

Month-End 08/31/2024 Quarter-End 06/30/2024
Ticker Fund Name 1 MO* YTD* 1 YR 3 YR 5 YR LIFE Commenced
Corporate Bonds
ANGL Fallen Angel High Yield Bond ETF NAV 1.56 4.76 8.99 0.09 4.52 6.71 04/10/2012
Price 1.46 5.06 8.12 -0.10 4.34 6.68
MBBB Moody’s Analytics BBB Corporate Bond ETF NAV 1.56 4.63 6.51 -2.17 -- -1.30 12/01/2020
Price 1.79 4.59 6.21 -2.24 -- -1.31
MIG Moody’s Analytics IG Corporate Bond ETF NAV 1.57 4.30 5.99 -2.25 -- -1.56 12/01/2020
Price 1.76 4.51 5.76 -2.30 -- -1.55
Equity Income
MORT Mortgage REIT Income ETF NAV 2.16 5.83 4.50 -7.53 -4.05 3.70 08/16/2011
Price 2.14 5.86 4.22 -7.61 -4.05 3.69
PFXF Preferred Securities ex Financials ETF NAV 3.97 7.21 5.36 -0.45 3.43 4.73 07/16/2012
Price 3.68 7.30 5.64 -0.44 3.40 4.74
DURA Durable High Dividend ETF NAV 4.18 12.94 3.19 4.19 6.06 7.42 10/30/2018
Price 4.19 12.89 3.12 4.14 6.04 7.41
EINC Energy Income ETF NAV 4.09 26.93 29.93 17.40 11.84 -2.78 03/12/2012
Price 4.08 27.21 29.59 17.49 11.87 -2.78
Floating Rate
BIZD BDC Income ETF NAV -1.47 8.24 24.58 10.68 11.64 8.03 02/11/2013
Price -1.32 8.18 24.63 10.68 11.65 8.04
FLTR IG Floating Rate ETF NAV 0.39 4.93 7.54 3.98 3.20 2.14 04/25/2011
Price 0.37 4.94 7.57 3.99 3.24 2.14
CLOI CLO ETF NAV 0.62 5.64 9.15 -- -- 8.46 06/21/2022
Price 0.58 5.72 8.88 -- -- 8.42
International Bond
CBON China Bond ETF NAV 1.92 3.23 3.13 -0.50 2.39 1.66 11/10/2014
Price 1.90 3.19 3.72 -0.43 2.35 1.65
HYEM Emerging Markets High Yield Bond ETF NAV 1.50 9.89 12.38 -1.01 1.76 3.95 05/08/2012
Price 1.58 10.12 11.40 -1.24 1.58 3.94
GRNB Green Bond ETF NAV 1.51 4.22 5.20 -2.07 0.02 1.50 03/03/2017
Price 1.58 4.16 5.12 -2.14 0.02 1.52
IHY International High Yield Bond ETF NAV 2.39 5.89 9.13 -2.25 1.22 3.59 04/02/2012
Price 2.67 5.38 8.37 -2.50 1.13 3.56
EMLC J.P. Morgan EM Local Currency Bond ETF NAV 2.98 0.68 -0.38 -3.45 -1.91 -- 07/22/2010
Price 2.86 1.25 -1.02 -3.49 -1.96 -0.02
Municipal Bond
XMPT CEF Muni Income ETF NAV 1.96 9.69 8.72 -5.90 0.16 3.89 07/12/2011
Price 1.51 9.38 8.58 -6.04 0.09 3.88
HYD High Yield Muni ETF NAV 0.76 4.53 5.60 -2.67 -0.12 5.07 02/04/2009
Price -0.07 4.04 5.09 -2.99 -0.27 5.03
SMI HIP Sustainable Muni ETF NAV 0.47 1.54 3.26 -- -- -1.18 09/08/2021
Price 0.17 1.67 3.09 -- -- -1.28
ITM Intermediate Muni ETF NAV 0.81 0.75 2.56 -1.77 0.55 3.25 12/04/2007
Price 0.57 0.37 2.10 -1.92 0.51 3.22
MLN Long Muni ETF NAV 0.51 1.48 3.74 -3.60 -0.10 2.92 01/02/2008
Price 0.05 0.96 3.05 -3.76 -0.15 2.91
SHYD Short High Yield Muni ETF NAV 0.75 3.11 3.50 -1.32 0.69 1.95 01/13/2014
Price 0.90 3.77 3.46 -1.54 0.64 1.94
SMB Short Muni ETF NAV 0.87 1.89 2.76 -0.30 0.74 1.82 02/22/2008
Price 0.89 2.25 3.12 -0.41 0.75 1.82
Multi-Asset Income
INC Dynamic High Income NAV 1.91 7.19 8.04 -- -- 9.68 11/01/2022
Price 1.85 7.12 8.06 -- -- 9.69

Source: FactSet (as of dates indicated). *Returns less than one year are not annualized.
The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

VanEck Vectors Monthly ETF Yield Monitor

VanEck Monthly ETF Yield Monitor

IMPORTANT DISCLOSURE

Prior to September 1, 2020, the Municipal Income funds were known as the VanEck AMT-Free Short Municipal Index ETF, VanEck AMT-Free Intermediate Municipal Index ETF, VanEck AMT-Free Long Municipal Index ETF, VanEck Short High-Yield Municipal Index ETF, VanEck High-Yield Municipal Index ETF, and the VanEck Municipal Allocation ETF.

30-Day SEC Yield is a standard calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the fund’s expenses for the period. It does not reflect the yield an investor would have received if they had held the fund over the last 12 months assuming the most recent NAV. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Duration to Worst is a measure of the duration of a bond computed using the bond's nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. Effective Duration is a measure of the average percentage change in a bond’s price, given an upward and downward parallel shift in the Treasury (spot) curve, where the change in price reflects any exercise of embedded call or put options, optional prepayments, and/or changes in adjustable rate coupons according to formulas which may include periodic or lifetime rate caps/floors, etc. Modified Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield.

Investment category index representation: U.S. Aggregate represents the Bloomberg Barclays US Aggregate Index, U.S. High Yield Corporates represents the ICE BofAML U.S. High Yield Master Index, Global High Yield Corporates represents the ICE BofAML Global High Yield Index, EM USD High Yield Aggregate represents the Bloomberg Barclays EM Aggregate High Yield Index, EM USD High Yield + IG Corps represents the ICE BofAML EM Liquid Corp Plus Index, EM Local Currency Sovereigns represents the JPM GBI EM Global Diversified Index, EM USD Sovereigns represents the JPM EMBI Global Diversified Index, U.S. Corporates represents the Bloomberg Barclays US Corp Index, U.S. REITs represents the ICE BofAML U.S. REIT Index, Global Aggregate represents the Bloomberg Barclays Global Aggregate Index, TIPS represents the Bloomberg Barclays US Treasury TIPS Index, Municipals represents the Bloomberg Barclays Municipal Index, High Yield Municipals represents the Bloomberg Barclays HY Muni Index, 10 Year Treasuries represents the Bloomberg Barclays US Treasury 10 Yr Index, Preferred Securities represents the ICE BofAML Preferreds Index, U.S. Dividend Stocks represents the DJ U.S. Select Dividend Index.

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. Debt securities carry interest rate and credit risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. Credit risk is the risk of loss on an investment due to the deterioration of an issuer's financial health. High-yield, municipal securities and emerging markets securities have additional risks. Some of the underlying securities of some Funds may be subject to call risk, which may result in the Funds having to reinvest the proceeds at lower interest rates, resulting in a decline in the Funds' income. Please see the prospectus of each Fund for more complete information regarding each Fund's specific risks.

Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. 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.

Income Investing: Ideas to Beat the Bank is a service mark of Van Eck Associates Corporation