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Global Resources Fund - Class A

NLR
VanEck Vectors Uranium+Nuclear Energy ETF

Fund Description

VanEck Vectors^® Uranium+Nuclear Energy ETF (NLR^®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS^® Global Uranium & Nuclear Energy Index (MVNLRTR), which is intended to track the overall performance of companies involved in: (i) uranium mining or uranium mining projects that have the potential, in MV Index Solutions GmbH's (the "Index Provider") view, when such projects are developed are expected to generate at least 50% of a company's revenues or are expected to constitute at least 50% of such company's assets; (ii) the construction, engineering and maintenance of nuclear power facilities and nuclear reactors; (iii) the production of electricity from nuclear sources; or (iv) providing equipment, technology and/or services to the nuclear power industry.

Fund Ticker
NLR
Exchange
NYSE Arca
ETF Structure
Physical
Administrator
Van Eck Associates
Custodian
State Street Bank and Trust Company
Index Ticker
MVNLRTR
Index Rebalancing
Quarterly

as of 05/05/21

30-Day SEC Yield¹
2.17%
Total Net Assets
$23.7M
Number of Holdings
25
Options
Expected
Gross Expense Ratio²
1.25%
Net Expense Ratio/TER²
0.60%
Distribution Frequency
Annual

Schedule a Call

Key Points

Access to Important Segment of Clean Energy Market
Nuclear is a significant clean energy source at an inflection point where governments must reconcile downward trending nuclear energy output with increasing demand for clean energy

Comprehensive Nuclear Energy Exposure
Index targets companies across the uranium and nuclear energy industry including uranium mining, production of electricity and suppliers and service providers

Pure Play with Global Scope
Companies must derive at least 50% of total revenues from the nuclear energy industry to be added to the Index

Trading Information

Fund Ticker
NLR
Index Total Return Ticker
MVNLRTR
NAV
NLRNV
Intraday NAV (IIV)⁴
NLRIV
Shares Outstanding
441,632
Estimated Cash
NLREU
Total Cash
NLRTC
CUSIP
92189F601
ISIN
US92189F6016

Source: Bloomberg

Fees & Expenses²

Management Fee
0.50%
Other Expenses
0.75%
Gross Expense Ratio
1.25%
Fee Waivers and
Expense Reimbursement
-0.65%
Net Expense Ratio/TER²
0.60%

²Expenses for NLR are capped contractually at 0.60% until May 1, 2022. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Investment Professionals

Peter Liao, CFA

Portfolio Manager and Head of Equity ETFs
Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
Joined VanEck in 2005
CFA charterholder; member of the CFA Society New York
BA, Mathematics and Economics, New York University

Guo Hua (Jason) Jin

Portfolio Manager and Analyst for Equity ETFs
Joined VanEck in 2007
Prior to his current role, held a portfolio administration position at VanEck
Previously, Portfolio Analyst at Evaluation Associates
BS, Business Administration (concentration in Financial Analysis), State University of New York at Buffalo

Griffin Driscoll

Analyst for Equity ETFs
Joined VanEck in 2018
Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
BS, Finance, Providence College

Ralph Lasta

Analyst for Equity ETFs
Joined VanEck in 2019
Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
BS, Accounting, Hunter College

Prices as of 05/05/21

	NAV/ Market Price	Volume 30-Day Avg./ Last Trading Day	Daily Change NAV/ Last Price	YTD Change NAV/ Last Price	Premium/ Discount	Prem/Discount Distribution Charts	NAV & Prem/Discount History	30-Day Median Bid Ask Spread	NAV Chart
NLR	$53.76 $53.89	3,846 829	-$0.15 / -0.27% $-0.10 / -0.19%	+8.94% +9.55%	$0.13 0.24%			0.35%

Premium/Discount History as of 05/05/21

		Calendar Year 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021
	Days closed at a premium	84	35	23	16	40
NLR	Days closed at NAV	20	5	6	6	5
	Days closed at a discount	149	23	35	42	16

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

Month End as of 03/31/21
Quarter End as of 03/31/21

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 08/13/07
NLR (NAV)	10.23	6.12	6.12	35.50	5.22	4.83	1.16	-2.35
NLR (Share Price)	10.06	6.57	6.57	35.72	5.49	4.92	1.24	-2.34
MVNLRTR (Index)⁵	10.19	6.20	6.20	34.90	5.19	4.49	0.76	-2.47
Performance Differential (NAV - Index)	0.04	-0.08	-0.08	0.60	0.03	0.34	0.40	0.12

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 08/13/07
NLR (NAV)	10.23	6.12	6.12	35.50	5.22	4.83	1.16	-2.35
NLR (Share Price)	10.06	6.57	6.57	35.72	5.49	4.92	1.24	-2.34
MVNLRTR (Index)⁵	10.19	6.20	6.20	34.90	5.19	4.49	0.76	-2.47
Performance Differential (NAV - Index)	0.04	-0.08	-0.08	0.60	0.03	0.34	0.40	0.12

*Returns less than one year are not annualized.

⁵Index data prior to March 24, 2014 reflects that of the DAXglobal Nuclear Energy Index (DXNE). From March 24, 2014, forward, the index data reflects that of the Fund's underlying index, MVIS Global Uranium & Nuclear Energy Index (MVNLRTR). Index history which includes periods prior to March 24, 2014 reflects a blend of the performance of DXNE and MVNLRTR and is not intended for third party use.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

Top 10 Holdings (%) as of 03/31/21 Daily Holdings

Total Holdings: 25

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full data

	Holding Name	Ticker	Shares	Market Value (US$)	% of Net Assets
	DUKE ENERGY CORP	DUK US	18,422	1,778,276	8.15
	DOMINION ENERGY INC	D US	22,845	1,735,306	7.95
	EXELON CORP	EXC US	34,960	1,529,150	7.01
	PUBLIC SERVICE ENTERPRISE GROUP INC	PEG US	23,535	1,417,042	6.49
	ENTERGY CORP	ETR US	13,282	1,321,161	6.06
	PG&E CORP	PCG US	100,335	1,174,923	5.39
	FORTUM OYJ	FORTUM FH	40,492	1,083,900	4.97
	ELECTRICITE DE FRANCE SA	EDF FP	79,960	1,074,978	4.93
	KYUSHU ELECTRIC POWER CO INC	9508 JP	98,700	976,630	4.48
	PINNACLE WEST CAPITAL CORP	PNW US	11,991	975,468	4.47
Top 10 Total (%)					59.90

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 03/31/21

Country
% of Net Assets
■
United States
53.75
■
Japan
14.42
■
Canada
6.40
■
Finland
4.97
■
France
4.93
■
South Korea
4.91
■
Italy
4.46
■
Czech
4.42
■
Kazakhstan
1.77
■
Other/Cash
-0.03

Sector Weightings (%) as of 03/31/21

Sector
% of Net Assets
■
Utilities
86.7
■
Energy
9.1
■
Industrials
3.8
■
Financials
0.5
■
Other/Cash
0.0