NPORT-EX 2 NPORT_5849417893647168.htm

VANECK VECTORS AFRICA INDEX ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
of Shares		      Value 
COMMON STOCKS: 99.2%
Canada: 14.1%
 42,972   B2Gold Corp. (USD)  $131,494 
 93,899   Barrick Gold Corp. (USD)   1,720,230 
 189,039   First Quantum Minerals Ltd.   954,924 
 385,212   IAMGOLD Corp. (USD) *   878,283 
 467,313   Ivanhoe Mines Ltd. *   768,267 
         4,453,198 
China / Hong Kong: 2.8%
 3,225,000   China Molybdenum Co. Ltd. † #   886,756 
Egypt: 4.4%
 384,974   Commercial International Bank Egypt SAE (GDR) #   1,393,250 
India: 1.7%
 44,479   MakeMyTrip Ltd. (USD) * †   531,746 
Kenya: 10.2%
 321,700   East African Breweries Ltd. #   455,518 
 2,548,800   Equity Group Holdings Plc   823,720 
 7,687,700   Safaricom Plc #   1,921,721 
         3,200,959 
Morocco: 16.6%
 46,235   Attijariwafa Bank #   1,703,082 
 29,873   Bank of Africa   459,019 
 54,108   Banque Centrale Populaire   1,151,177 
 28,995   Cosumar #   503,627 
 111,071   Maroc Telecom #   1,398,800 
         5,215,705 
Nigeria: 10.4%
 26,079,359   Guaranty Trust Bank Plc #   1,173,652 
 3,787,645   MTN Nigeria Communications Plc #   888,554 
 238,810   Nestle Nigeria Plc   478,872 
 24,760,557   Zenith Bank Ltd. #   732,434 
         3,273,512 
Singapore: 2.0%
 6,518,100   Golden Agri-Resources Ltd. #   644,064 
South Africa: 29.4%
 45,246   Absa Group Ltd. #   188,504 
 4,190   Anglo American Platinum Ltd. #   175,277 
 17,703   AngloGold Ashanti Ltd. (ADR)   294,401 
 24,670   Aspen Pharmacare Holdings Ltd. * #   129,223 
 19,059   AVI Ltd. #   74,804 
 17,675   Bid Corp. Ltd. † #   208,632 
 20,000   Bidvest Group Ltd. † #   163,286 
 4,765   Capitec Bank Holdings Ltd. #   234,725 
 11,895   Clicks Group Ltd. #   171,693 
 16,070   Coronation Fund Managers Ltd. #   28,323 
 29,798   Discovery Ltd. #   130,117 
 16,964   Exxaro Resources Ltd. #   93,123 
 216,016   FirstRand Ltd. #   485,460 
 57,963   Fortress REIT Ltd.   32,779 
 12,316   Foschini Group Ltd. #   46,058 
 38,791   Gold Fields Ltd. (GDR)   184,257 
 175,611   Growthpoint Properties Ltd.  †   125,882 
 31,525   Harmony Gold Mining Co. Ltd. (GDR) *   68,725 
 15,214   Hyprop Investments Ltd.   16,185 
 45,885   Impala Platinum Holdings Ltd. † #   191,458 
 36,211   Investec Plc (GBP) #   67,343 
 76,333   Life Healthcare Group Holdings Ltd.   78,897 
 23,908   Mediclinic International Plc (GBP) #   79,032 
 54,631   Momentum Metropolitan Holdings   47,687 
 13,198   Mr Price Group Ltd. #   83,871 
 84,018   MTN Group Ltd. † #   225,604 
 21,525   MultiChoice Group Ltd. * #   102,437 
 20,232   Naspers Ltd. #   2,879,363 
 25,521   Nedbank Group Ltd. #   118,763 
 91,391   Netcare Ltd.   76,756 
 21,353   Northam Platinum Ltd. * #   81,586 
 257,668   Old Mutual Ltd. † #   171,184 
 21,003   Pick n Pay Stores Ltd.   71,264 
 13,175   PSG Group Ltd. #   95,020 
 53,814   Rand Merchant Investment Holdings Ltd. † #   66,924 
 320,936   Redefine Properties Ltd.   42,519 
 27,173   Remgro Ltd. #   186,045 
 17,885   Resilient REIT Ltd.   31,837 
 44,826   RMB Holdings Ltd. #   122,745 
 110,821   Sanlam Ltd. #   316,027 
 21,105   Sappi Ltd. * #   24,977 
 29,183   Sasol Ltd. (ADR) * †   58,658 
 28,365   Shoprite Holdings Ltd.   198,523 
 30,723   Sibanye Stillwater Ltd. (GDR) * #   145,013 
 10,019   Spar Group Ltd. #   101,562 
 74,410   Standard Bank Group Ltd. † #   426,465 
 10,003   Tiger Brands Ltd. #   103,761 
 23,941   Truworths International Ltd.   33,485 
 13,643   Vodacom Group Ltd. #   89,279 
 46,755   Woolworths Holdings Ltd. #   72,167 
         9,241,706 
United Kingdom: 6.7%
 70,120   Anglo American Plc #   1,226,629 
 199,926   Centamin Plc #   296,319 
 23,976   Ninety One Plc *   51,402 
 4,157,739   Tullow Oil Plc † #   526,907 
         2,101,257 
United States: 0.8%
 8,191   Royal Caribbean Cruises Ltd. †   263,505 
Zimbabwe: 0.0%
 32,900   Cassava Smartech Zimbabwe Ltd. *   3,685 
 15,980   Delta Corp. Ltd. #   4,086 
         7,771 
Total Common Stocks
(Cost: $41,428,186)		   31,213,429 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 2.2%
(Cost: $691,746)
Money Market Fund: 2.2%
 691,746   State Street Navigator Securities Lending Government Money Market Portfolio   691,746 
Total Investments: 101.4%
(Cost: $42,119,932)		   31,905,175 
Liabilities in excess of other assets: (1.4)%   (426,463)
NET ASSETS: 100.0%  $31,478,722 

 

Definitions:

ADR American Depositary Receipt
GBP British Pound
GDR Global Depositary Receipt
USD United States Dollar

 

Footnotes:

* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $1,829,309.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $21,635,250 which represents 68.7% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.

 

Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value 
Communication Services   14.8%    $4,626,395 
Consumer Discretionary   12.5    3,910,195 
Consumer Staples   9.7    3,016,406 
Energy   2.0    620,030 
Financials   32.6    10,176,753 
Health Care   1.2    363,908 
Industrials   0.5    163,286 
Materials   25.9    8,087,254 
Real Estate   0.8    249,202 
    100.0%  $31,213,429 

 

VANECK VECTORS AGRIBUSINESS ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
of Shares		      Value 
COMMON STOCKS: 100.2%
Australia: 1.9%
 1,980,381   Incitec Pivot Ltd. † #  $2,444,332 
 1,087,604   Treasury Wine Estates Ltd. † #   6,718,982 
         9,163,314 
Brazil: 1.5%
 1,952,000   Rumo SA *   7,395,365 
Canada: 7.1%
 1,027,259   Nutrien Ltd. (USD)   34,865,170 
Chile: 1.1%
 227,313   Sociedad Quimica y Minera de Chile SA (ADR)   5,125,908 
China / Hong Kong: 2.1%
 2,976,000   China Mengniu Dairy Co. Ltd. #   10,265,832 
Denmark: 1.1%
 84,878   Bakkafrost P/F (NOK) #   3,981,882 
 24,076   Schouw & Co. AB #   1,588,267 
         5,570,149 
Germany: 8.0%
 659,920   Bayer AG #   37,618,714 
 339,742   K+S AG † #   1,944,717 
         39,563,431 
Indonesia: 0.8%
 13,624,800   Charoen Pokphand Indonesia Tbk PT  #   4,099,813 
Israel: 0.8%
 1,305,684   Israel Chemicals Ltd. (USD) †   4,008,450 
Japan: 6.0%
 1,682,030   Kubota Corp. #   21,308,589 
 68,300   Maruha Nichiro Corp. #   1,419,565 
 155,500   Nippon Meat Packers, Inc. † #   5,389,935 
 371,700   Nippon Suisan Kaisha Ltd. #   1,629,231 
         29,747,320 
Malaysia: 3.5%
 4,888,455   IOI Corp. Bhd #   4,506,689 
 675,170   Kuala Lumpur Kepong Bhd #   3,274,093 
 998,580   PPB Group Bhd #   3,786,207 
 4,832,400   Sime Darby Plantation Bhd #   5,525,479 
         17,092,468 
Netherlands: 0.3%
 119,142   OCI NV * † #   1,416,463 
Norway: 5.2%
 472,511   Leroy Seafood Group ASA #   2,289,891 
 761,656   Mowi ASA #   11,401,160 
 89,862   Salmar ASA #   2,943,389 
 293,202   Yara International ASA #   9,178,472 
         25,812,912 
Russia: 0.5%
 227,445   PhosAgro PJSC Reg S (GDR)   2,323,300 
Singapore: 2.6%
 7,676,545   Golden Agri-Resources Ltd. #   758,532 
 5,391,051   Wilmar International Ltd. #   12,169,952 
         12,928,484 
Switzerland: 0.6%
 11,422   Bucher Indistries AG #   2,994,840 
Taiwan: 0.4%
 1,413,000   Taiwan Fertilizer Co. Ltd. #   1,941,099 
Thailand: 1.1%
 7,480,236   Charoen Pokphand Foods (NVDR) #   5,509,145 
United Kingdom: 2.8%
 1,631,691   CNH Industrial NV (USD) †   9,153,787 
 109,373   Genus Plc #   4,412,018 
         13,565,805 
United States: 52.8%
 89,778   AGCO Corp.   4,242,010 
 653,163   Archer-Daniels-Midland Co.   22,978,274 
 37,763   Balchem Corp.   3,727,963 
 195,545   Bunge Ltd.   8,023,211 
 236,759   CF Industries Holdings, Inc.   6,439,845 
 1,004,748   Corteva, Inc.   23,611,578 
 179,533   Darling International, Inc. *   3,441,648 
 250,294   Deere & Co.   34,580,619 
 444,014   Elanco Animal Health, Inc. *   9,941,473 
 165,805   FMC Corp.   13,544,610 
 122,458   IDEXX Laboratories, Inc. *   29,664,226 
 61,715   Neogen Corp. *   4,134,288 
 103,682   Pilgrim’s Pride Corp. *   1,878,718 
 26,458   Sanderson Farms, Inc.   3,262,801 
 522,125   The Mosaic Co.   5,649,392 
 145,450   Toro Co.   9,467,340 
 179,391   Tractor Supply Co.   15,167,509 
 395,552   Tyson Foods, Inc.   22,890,594 
 320,325   Zoetis, Inc.   37,699,049 
         260,345,148 
Total Common Stocks
(Cost: $599,205,655)		   493,734,416 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.4%
(Cost: $2,072,735)
Money Market Fund: 0.4%
 2,072,735   State Street Navigator Securities Lending Government Money Market Portfolio   2,072,735 
Total Investments: 100.6%
(Cost: $601,278,390)		   495,807,151 
Liabilities in excess of other assets: (0.6)%   (3,010,392)
NET ASSETS: 100.0%  $492,796,759 

 

Definitions:

ADR American Depositary Receipt
GDR Global Depositary Receipt
NOK Norwegian Krone
NVDR  Non-Voting Depositary Receipt
USD United States Dollar

 

Footnotes:

* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $11,799,056.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $170,517,288 which represents 34.6% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.

 

Summary of Investments by Sector Excluding
Collateral for Securities Loaned		  % of
Investments		  Value 
Consumer Discretionary   3.1%     $15,167,509 
Consumer Staples   30.3    149,733,290 
Health Care   25.0    123,469,768 
Industrials   18.1    89,142,550 
Materials   23.5    116,221,299 
    100.0%  $493,734,416 

 

VANECK VECTORS BRAZIL SMALL-CAP ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 91.5%     
Automobiles & Components: 1.0%     
 57,500   Mahle-Metal Leve SA Industria e Comercio  $194,098 
 99,050   Tupy SA   250,098 
         444,196 
Capital Goods: 0.6%     
 128,602   Iochpe Maxion SA   272,742 
Consumer Durables & Apparel: 13.6%     
 66,600   Arezzo Industria e Comercio SA   472,574 
 169,500   Cia Hering SA   485,395 
 101,300   Construtora Tenda SA   401,995 
 423,850   Cyrela Brazil Realty SA Empreendimentos e Participacoes   1,152,595 
 171,800   Even Construtora e Incorporadora SA *   202,017 
 227,102   EZ Tec Empreendimentos e Participacoes SA   1,298,075 
 336,800   Grendene SA   488,078 
 403,000   MRV Engenharia e Participacoes SA   949,312 
 155,200   Vivara Participacoes SA   471,027 
         5,921,068 
Consumer Services: 7.8%     
 40,115   Afya Ltd. (USD) * †   764,592 
 17,230   Arco Platform Ltd. (USD) * †   728,140 
 129,696   Arcos Dorados Holdings, Inc. (USD)   433,185 
 221,450   BK Brasil Operacao E Assessoria   386,124 
 211,900   CVC Brasil Operadora e Agencia de Viagens SA   452,665 
 117,200   GAEC Educacao SA   430,131 
 71,075   Ser Educacional SA Reg S 144A   206,956 
         3,401,793 
Energy: 2.1%     
 119,050   Enauta Participacoes SA   209,639 
 29,500   Modec, Inc. #   354,151 
 101,550   Petro Rio SA *   326,377 
         890,167 
Food, Beverage & Tobacco: 7.4%     
 75,442   Adecoagro SA (USD) *   293,469 
 176,800   Camil Alimentos SA   265,059 
 520,500   Marfrig Alimentos SA *   886,516 
 398,850   Minerva SA *   610,238 
 243,200   Sao Martinho SA   691,768 
 105,350   SLC Agricola SA   460,238 
         3,207,288 
Health Care Equipment & Services: 9.2%     
 70,700   Centro de Imagem Diagnosticos SA   122,457 
 359,550   Fleury SA   1,400,530 
 48,900   Instituto Hermes Pardini SA   180,878 
 396,750   Odontoprev SA   1,105,625 
 262,950   Qualicorp SA   1,194,284 
         4,003,774 
Insurance: 0.4%     
 97,900   Wiz Solucoes e Corretagem de Seguros SA   169,946 
Materials: 6.6%     
 454,525   Duratex SA   817,884 
 74,232   ERO Copper Corp. * †   557,544 
 376,370   Largo Resources Ltd. * †   187,209 
 52,036   Rhi Magnesita NV (GBP) #   1,313,877 
         2,876,514 
Media & Entertainment: 0.5%     
 87,100   Smiles Fidelidade SA   207,018 
Real Estate: 7.7%     
 206,338   Aliansce Sonae Shopping Centers SA   1,056,290 
 271,550   BR Properties SA *   478,705 
 29,434   FII BTG Pactual Corporate Office Fund   505,908 
 129,250   Iguatemi Empresa de Shopping Centers SA   777,326 
 363,900   JHSF Participacoes SA   245,117 
 65,600   Log Commercial Properties E   276,484 
         3,339,830 
Retailing: 1.7%     
 133,500   C&A Modas Ltda   172,139 
 91,050   Grupo SBF SA *   421,598 
 179,800   Marisa Lojas SA *   159,173 
         752,910 
Semiconductor: 0.9%     
 16,121   SMART Global Holdings, Inc. *   391,740 
Software & Services: 2.2%     
 197,998   Linx SA (ADR) * †   641,514 
 624,383   Sonda SA   327,818 
         969,332 
Technology Hardware & Equipment: 0.6%     
 19,281   Ituran Location and Control Ltd. (USD) †   273,983 
Telecommunication Services: 1.7%     
 59,100   Jereissati Participacoes SA   232,824 
 1,107,993   Oi SA (ADR) * †   486,298 
         719,122 
Transportation: 8.2%     
 455,800   Cia de Locacao das Americas   920,179 
 131,400   Cosan Logistica SA *   422,819 
 300,390   EcoRodovias Infraestrutura e Logistica SA *   546,311 
 102,176   Gol Linhas Aereas Inteligentes SA (ADR) †   436,292 
 111,200   Julio Simoes Logistica SA   277,139 
 200,850   Movida Participacoes SA   312,711 
 717,350   Santos Brasil Participacoes SA   618,488 
         3,533,939 
Utilities: 19.3%     
 309,940   AES Tiete Energia SA   782,589 
 328,187   Alupar Investimento SA   1,421,106 
 94,596   Cia de Saneamento de Minas Gerais SA   744,592 
 401,700   Cia de Saneamento do Parana   1,843,795 
 322,300   Light SA   598,563 
 81,300   Omega Geracao SA *   425,268 
 514,500   Transmissora Alianca de Energia Eletrica SA   2,557,598 
         8,373,511 
Total Common Stocks
(Cost: $56,911,806)		   39,748,873 
PREFERRED STOCKS: 8.4%     
Banks: 0.9%     
 112,150   Banco ABC Brasil SA, 7.93%   285,765 
 130,600   Banco BMG SA Reg S 144A, 6.93%   90,735 
         376,500 
Capital Goods: 1.3%     
 705,059   Marcopolo SA, 5.38%   335,154 
 239,700   Randon Implementos e Participacoes SA, 6.59%   251,413 
         586,567 
Financials: 1.5%     
 287,300   Banco do Estado do Rio Grande do Sul SA, 9.88%   659,627 
Materials: 2.7%     
 954,900   Metalurgica Gerdau SA, 2.58%   854,542 
 66,477   Unipar Carbocloro SA, 1.08%   307,047 
         1,161,589 
Utilities: 2.0%     
 163,850   Cia Energetica de Sao Paulo, 3.30%   847,614 
Total Preferred Stocks
(Cost: $3,548,151)		   3,631,897 
Total Investments Before Collateral for Securities Loaned: 99.9%
(Cost: $60,459,957)		   43,380,770 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 5.0%
(Cost: $2,155,465)		     
Money Market Fund: 5.0%     
 2,155,465   State Street Navigator Securities Lending Government Money Market Portfolio   2,155,465 
Total Investments: 104.8%
(Cost: $62,615,422)		   45,536,235 
Liabilities in excess of other assets: (4.8)%   (2,097,439)
NET ASSETS: 100.0%  $43,438,796 

 

Definitions:

ADR American Depositary Receipt
GBP British Pound
USD United States Dollar

 

Footnotes:

* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $3,297,041.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $1,668,028 which represents 3.8% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $297,691, or 0.7% of net assets.

 

Summary of Investment by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value  
Communication Services   2.1%  $926,140 
Consumer Discretionary   24.3    10,519,967 
Consumer Staples   7.4    3,207,288 
Energy   2.1    890,167 
Financials   3.9    1,711,981 
Health Care   9.2    4,003,774 
Industrials   10.1    4,393,248 
Information Technology   3.8    1,635,055 
Materials   9.3    4,038,103 
Real Estate   6.5    2,833,922 
Utilities   21.3    9,221,125 
    100.0%     $43,380,770 

 

VANECK VECTORS CHINAAMC CSI 300 ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.3%     
Automobiles & Components: 2.2%     
 42,300   BAIC BluePark New Energy Technology Co. Ltd. * #  $35,355 
 27,281   Byd Co. Ltd.  #   228,751 
 20,509   China Shipbuilding Industry Group Power Co. Ltd. * #   48,020 
 59,062   Chongqing Changan Automobile Co. Ltd.  #   87,118 
 42,400   Fuyao Glass Industry Group Co. Ltd.  #   113,963 
 36,374   Great Wall Motor Co. Ltd.  #   45,220 
 27,680   Guangzhou Automobile Group Co. Ltd. #   40,906 
 47,773   Huayu Automotive Systems Co. Ltd.  #   143,686 
 105,963   SAIC Motor Corp. Ltd. #   304,007 
 72,180   Zhejiang Century Huatong Group Co. Ltd. #   125,069 
         1,172,095 
Banks: 15.6%     
 1,161,200   Agricultural Bank of China Ltd. #   550,347 
 448,515   Bank of Beijing Co. Ltd.  #   304,420 
 30,600   Bank of Changsha Co. Ltd. #   33,213 
 54,500   Bank of Chengdu Co. Ltd. #   57,540 
 638,800   Bank of China Ltd. #   312,478 
 832,816   Bank of Communications Co. Ltd. #   604,365 
 77,960   Bank of Guiyang Co. Ltd. #   83,787 
 62,160   Bank of Hangzhou Co. Ltd. #   67,157 
 279,900   Bank of Jiangsu Co. Ltd. #   236,302 
 179,871   Bank of Nanjing Co. Ltd.  #   182,806 
 84,935   Bank of Ningbo Co. Ltd.  #   274,542 
 215,354   Bank of Shanghai Co. Ltd. #   248,828 
 14,800   Bank of Xi’an Co. Ltd. #   11,429 
 92,900   China CITIC Bank Corp. Ltd. #   67,530 
 203,600   China Construction Bank Corp. #   181,260 
 482,700   China Everbright Bank Co. Ltd.  #   244,774 
 312,589   China Merchants Bank Co. Ltd.  #   1,411,684 
 752,517   China Minsheng Banking Corp. Ltd. #   603,623 
 186,556   Huaxia Bank Co. Ltd.  #   169,483 
 653,704   Industrial & Commercial Bank of China Ltd. #   473,162 
 440,791   Industrial Bank Co. Ltd.  #   982,591 
 294,209   Ping An Bank Co. Ltd.  #   526,673 
 18,300   Qingdao Rural Commercial Bank Corp. #   11,241 
 355,918   Shanghai Pudong Development Bank Co. Ltd. #   506,997 
         8,146,232 
Capital Goods: 8.5%     
 27,100   AECC Aviation Power Co. Ltd. #   80,366 
 41,900   AVIC Aircraft Co. Ltd.  #   92,725 
 8,900   AVIC Helicopter Co. Ltd. #   51,793 
 12,400   AVIC Shenyang Aircraft Co. Ltd. * #   49,667 
 25,700   Beijing New Building Materials Plc #   84,800 
 15,199   China Avionics Systems Co. Ltd. #   27,440 
 71,124   China Communications Construction Co. Ltd.  #   81,829 
 83,700   China Gezhouba Group Co. Ltd.  #   81,596 
 74,700   China National Chemical Engineering Co. Ltd.  #   62,276 
 139,100   China Railway Construction Corp. Ltd. #   190,496 
 246,908   China Railway Group Ltd. #   185,492 
 277,400   China Shipbuilding Industry Co. Ltd.  #   163,212 
 17,900   China Spacesat Co. Ltd.  #   73,084 
 636,108   China State Construction Engineering Corp. Ltd. #   468,096 
 294,915   CRRC Corp. Ltd. #   269,970 
 48,858   Fangda Carbon New Material Co. Ltd.  * #   60,978 
 25,800   Han’s Laser Technology Co. Ltd. #   101,418 
 74,300   Jiangsu Zhongtian Technology Co. Ltd. #   98,870 
 216,400   Metallurgical Corp of China Ltd. #   79,035 
 69,711   NARI Technology Co. Ltd.  #   191,483 
 231,800   Power Construction Corp. of China Ltd. #   127,559 
 178,400   Sany Heavy Industry Co. Ltd.  #   428,683 
 134,848   Shanghai Construction Group Co. Ltd.  #   60,590 
 110,700   Shanghai Electric Group Co. Ltd. #   71,167 
 30,849   Shenzhen Inovance Technology Co. Ltd. #   111,359 
 33,089   Siasun Robot & Automation Co. Ltd. * #   62,910 
 48,461   Suzhou Gold Mantis Construction Decoration Co. Ltd.  #   55,412 
 112,107   TBEA Co. Ltd.  #   114,091 
 145,000   Weichai Power Co. Ltd.  #   240,891 
 142,100   XCMG Construction Machinery Co. Ltd.  #   99,553 
 42,600   Xiamen C & D, Inc. #   45,641 
 83,600   Xinjiang Goldwind Science and Technology Co. Ltd.  #   110,806 
 32,600   Zhejiang Chint Electrics Co. Ltd. #   107,842 
 41,882   Zhejiang Sanhua Intelligent Controls Co. Ltd. #   93,674 
 39,753   Zhengzhou Yutong Bus Co. Ltd.  #   76,054 
 157,000   Zoomlion Heavy Industry Science and Technology Co. Ltd.  #   124,929 
         4,425,787 
Commercial & Professional Services: 0.4%     
 57,441   Beijing Originwater Technology Co. Ltd. #   74,035 
 11,200   Shanghai M&G Stationery, Inc. #   72,642 
 47,000   Shanghai Yuyuan Tourist Mart Group Co. Ltd. #   48,280 
         194,957 
Consumer Durables & Apparel: 5.1%     
 145,928   Gree Electric Appliances, Inc. #   1,063,526 
 111,700   Haier Smart Home Co. Ltd. #   224,821 
 14,372   Hangzhou Robam Appliances Co. Ltd. #   57,130 
 147,195   Midea Group Co. Ltd.  #   996,765 
 3,400   Oppein Home Group, Inc. #   45,036 
 410,000   TCL Corp. #   236,569 
 5,000   Zhejiang Supor Co. Ltd. #   48,421 
         2,672,268 
Consumer Services: 1.1%     
 29,600   China International Travel Service Corp. Ltd. #   277,427 
 39,694   Heilan Home Co. Ltd. #   35,189 
 20,500   Offcn Education Technology Co. Ltd. #   65,242 
 124,020   Shenzhen Overseas Chinese Town Co. Ltd.  #   110,721 
 26,400   Songcheng Performance Development Co. Ltd. #   92,258 
         580,837 
Diversified Financials: 6.8%     
 66,336   Anxin Trust Co. Ltd. * #   23,633 
 163,086   AVIC Capital Co. Ltd.  #   89,530 
 56,200   Bohai Capital Holding Co. Ltd. * #   22,778 
 75,800   Caitong Securities Co. Ltd. #   107,293 
 39,100   China Galaxy Securities Co. Ltd. #   51,977 
 9,300   China Great Wall Securities Co. Ltd. #   15,793 
 86,600   China Merchants Securities Co. Ltd.  #   207,732 
 8,300   Chinalin Securities Co. Ltd. #   16,830 
 238,500   CITIC Securities Co. Ltd.  #   740,109 
 13,900   CSC Financial Co. Ltd. #   60,263 
 41,800   Dongxing Securities Co. Ltd. #   63,685 
 162,820   East Money Information Co. Ltd. #   365,556 
 59,171   Everbright Securities Co. Ltd. #   90,893 
 124,250   Founder Securities Co. Ltd.  #   124,753 
 136,250   Guotai Junan Securities Co. Ltd. #   310,259 
 74,530   Guoyuan Securities Co. Ltd.  #   115,700 
 245,336   Haitong Securities Co. Ltd.  #   441,351 
 6,300   Hithink RoyalFlush Information Network Co. Ltd. #   95,029 
 12,100   Hongta Securities Co, Ltd. * #   33,993 
 14,960   Minmetals Capital Co. Ltd. #   15,588 
 108,500   Orient Securities Co. Ltd. #   138,174 
 51,200   SDIC Capital Co. Ltd. #   87,315 
 273,138   Shenwan Hongyuan Group Co. Ltd. #   168,594 
 72,900   Sinolink Securities Co. Ltd.  #   93,083 
 19,930   Tianfeng Securities Co. Ltd. #   14,307 
 39,800   Zheshang Securities Co. Ltd. #   55,828 
         3,550,046 
Energy: 1.9%     
 54,900   China Coal Energy Co. Ltd.  #   30,657 
 17,900   China Oilfield Services Ltd. #   29,202 
 405,600   China Petroleum & Chemical Corp. #   252,204 
 99,810   China Shenhua Energy Co. Ltd.  #   226,677 
 61,000   CNOOC Energy Technology & Services Ltd. * #   19,515 
 66,680   Offshore Oil Engineering Co. Ltd.  #   45,631 
 294,400   PetroChina Co. Ltd.  #   190,980 
 121,007   Shaanxi Coal Industry Co. Ltd. #   126,215 
 36,700   Shanxi Meijin Energy Co. Ltd. * #   33,375 
 26,900   Yanzhou Coal Mining Co. Ltd.  #   32,437 
         986,893 
Financials: 1.9%     
 117,300   Changjiang Securities Co. Ltd.  #   105,494 
 89,656   GF Securities Co. Ltd.  #   171,852 
 60,750   Guoyuan Securities Co. Ltd.  #   70,890 
 133,304   Huatai Securities Co. Ltd.  #   321,757 
 141,950   Industrial Securities Co. Ltd.  #   123,945 
 95,820   SooChow Securities Co. Ltd.  #   105,492 
 85,028   Southwest Securities Co. Ltd.  #   53,857 
 53,014   Western Securities Co. Ltd.  #   61,348 
         1,014,635 
Food, Beverage & Tobacco: 13.3%     
 3,300   Anhui Gujing Distillery Co. Ltd. #   53,012 
 24,200   Foshan Haitian Flavouring and Food Co. Ltd. #   425,167 
 23,900   Guangdong Haid Group Co. Ltd. #   134,683 
 12,425   Hebei Yangyuan Zhihui Beverage Co. Ltd. #   44,500 
 30,167   Henan Shuanghui Investment and Development Co. Ltd.  #   165,964 
 184,444   Inner Mongolia Yili Industrial Group Co. Ltd.  #   771,262 
 18,199   Jiangsu Yanghe Brewery Joint-Stock Co. Ltd.  #   213,681 
 15,126   Kweichow Moutai Co. Ltd.  #   2,352,319 
 21,664   Luzhou Laojiao Co. Ltd.  #   222,980 
 26,100   Muyuan Foodstuff Co. Ltd. #   445,814 
 63,600   New Hope Liuhe Co. Ltd.  #   278,434 
 7,960   Shanxi Xinghuacun Fen Wine Factory Co. Ltd. #   100,778 
 58,900   Tongwei Co. Ltd. #   95,669 
 112,185   Wens Foodstuffs Group Co. Ltd. #   507,637 
 58,900   Wuliangye Yibin Co. Ltd.  #   948,118 
 116,156   Yonghui Superstores Co. Ltd.  #   166,714 
         6,926,732 
Health Care Equipment & Services: 1.6%     
 36,862   Aier Eye Hospital Group Co. Ltd. #   202,416 
 15,100   Hangzhou Tigermed Consulting Co. Ltd. #   135,303 
 26,481   Huadong Medicine Co. Ltd.  #   64,509 
 17,000   Jointown Pharmaceutical Group Co. Ltd. #   40,471 
 32,400   Lepu Medical Technology Beijing Co. Ltd. #   163,491 
 83,074   Meinian Onehealth Healthcare Holdings Co. Ltd. #   137,382 
 34,873   Shanghai Pharmaceuticals Holding Co. Ltd.  #   95,528 
         839,100 
Insurance: 7.6%     
 50,411   China Life Insurance Co. Ltd.  #   185,498 
 95,217   China Pacific Insurance Group Co. Ltd.  #   375,213 
 59,900   Hubei Biocause Pharmaceutical Co. Ltd. #   49,655 
 24,676   New China Life Insurance Co. Ltd.  #   137,167 
 32,200   People’s Insurance Co. Group of China Ltd. #   28,334 
 328,320   Ping An Insurance Group Co. of China Ltd. #   3,179,613 
         3,955,480 
Materials: 6.0%     
 198,200   Aluminum Corp. of China Ltd. * #   79,735 
 72,530   Angang Steel Co. Ltd. #   27,331 
 60,500   Anhui Conch Cement Co. Ltd. #   463,637 
 44,900   Baiyin Nonferrous Group Co. Ltd. * #   17,656 
 270,128   Baoshan Iron and Steel Co. Ltd.  #   184,525 
 101,000   BBMG Corp. #   46,163 
 27,052   Beijing Oriental Yuhong Waterproof Technology Co. Ltd. #   128,096 
 8,900   Bluestar Adisseo Co. #   14,571 
 63,500   China Jushi Co. Ltd. #   70,227 
 214,200   China Molybdenum Co. Ltd.  #   103,138 
 66,070   China Northern Rare Earth Group High-Tech Co. Ltd. #   83,022 
 128,700   Hebei Iron & Steel Co. Ltd.  #   38,367 
 63,640   Hengli Petrochemical Co. Ltd. #   110,583 
 33,800   Hengyi Petrochemical Co. Ltd. #   59,167 
 3,680   Hoshine Silicon Industry Co. Ltd. #   12,691 
 102,316   Inner Mongolia Junzheng Energy & Chemical Industry Co. Ltd. * #   35,232 
 690,860   Inner Mongolian Baotou Steel Union Co. Ltd.  #   111,342 
 30,800   Jiangxi Copper Co. Ltd.  #   54,340 
 23,100   Jiangxi Ganfeng Lithium Co. Ltd. #   129,588 
 30,500   Lomon Billions Group Co. Ltd. #   63,609 
 24,100   Ningxia Baofeng Energy Group Co. Ltd. #   28,394 
 130,000   Pangang Group Vanadium Titanium & Resources Co. Ltd. * #   40,409 
 57,200   Rongsheng Petro Chemical Co. Ltd. #   87,682 
 30,900   Shandong Gold Mining Co. Ltd.  #   148,609 
 217,240   Shandong Nanshan Aluminum Co. Ltd. #   62,569 
 27,034   Tianqi Lithium Industries, Inc. #   69,705 
 191,500   Tongling Nonferrous Metals Group Co. Ltd.  #   53,402 
 39,400   Transfar Zhilian Co. Ltd. #   33,915 
 47,570   Wanhua Chemical Group Co. Ltd.  #   274,258 
 17,936   YanAn Bicon Pharmaceutical Listed Co. * #   19,365 
 19,633   Zhejiang Huayou Cobalt Co. Ltd. #   80,401 
 78,700   Zhejiang Longsheng Group Co. Ltd.  #   130,812 
 51,846   Zhongjin Gold Corp. Ltd. #   58,724 
 416,700   Zijin Mining Group Co. Ltd.  #   214,307 
         3,135,572 
Media & Entertainment: 1.5%     
 22,629   China Film Co. Ltd. #   37,249 
 12,100   China Satellite Communications Co. Ltd. * #   24,043 
 311,512   Focus Media Information Technology Co. Ltd. #   192,148 
 18,300   Giant Network Group Co. Ltd. #   42,569 
 15,460   Mango Excellent Media Co. Ltd. * #   94,147 
 15,400   Perfect World Co. Ltd. #   102,297 
 62,367   Shanghai Oriental Pearl Group Co. Ltd. #   76,454 
 24,700   Wanda Film Holding Co. Ltd. * #   54,350 
 31,900   Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co. Ltd. #   145,699 
         768,956 
Pharmaceuticals / Biotechnology: 6.5%     
 16,800   Beijing Tongrentang Co. Ltd.  #   59,612 
 3,600   Changchun High & New Technology Industry Group, Inc. #   275,580 
 8,045   Chengdu Kanghong Pharmaceutical Group Co. Ltd. #   44,486 
 14,500   Chongqing Zhifei Biological Products Co. Ltd. #   137,572 
 16,961   Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd.  #   74,576 
 24,840   Hualan Biological Engineering, Inc. #   166,537 
 9,500   Hubei Jumpcan Pharmaceutical Co. Ltd. #   29,186 
 93,649   Jiangsu Hengrui Medicine Co. Ltd.  #   1,202,941 
 14,000   Shandong Dong-E E-Jiao Co. Ltd. #   50,290 
 30,300   Shanghai Fosun Pharmaceutical Group Co. Ltd.  #   139,018 
 60,360   Shanghai RAAS Blood Products Co. Ltd. * #   65,312 
 12,386   Shenzhen Salubris Pharmaceuticals Co. Ltd. #   30,761 
 26,091   Sichuan Kelun Pharmaceutical Co. Ltd. #   75,373 
 27,370   Tasly Pharmaceutical Group Co. Ltd.  #   52,901 
 42,739   Tonghua Dongbao Pharmaceutical Co. Ltd. #   63,198 
 36,700   Walvax Biotechnology Co. Ltd. #   162,596 
 21,720   WuXi AppTec Co. Ltd. #   273,982 
 15,301   Yunnan Baiyao Group Co. Ltd.  #   183,471 
 9,091   Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. #   158,066 
 39,100   Zhejiang NHU Co. Ltd. #   149,093 
         3,394,551 
Real Estate: 4.3%     
 36,374   China Fortune Land Development Co. Ltd.  #   105,958 
 95,959   China Merchants Shekou Industrial Zone Co. Ltd. #   221,185 
 176,767   China Vanke Co. Ltd.  #   633,053 
 68,401   Gemdale Corp. #   134,911 
 110,600   Greenland Holdings Corp. Ltd. #   83,786 
 56,200   Jiangsu Zhongnan Construction Group Co. Ltd. #   60,703 
 64,800   Jinke Properties Group Co. Ltd. #   72,288 
 217,004   Poly Developments and Holdings Group Co. Ltd. #   451,891 
 12,100   Red Star Macalline Group Corp. Ltd. #   15,748 
 52,800   RiseSun Real Estate Development Co. Ltd.  #   57,247 
 27,200   Seazen Holdings Co. Ltd. #   119,166 
 12,100   Shanghai Lingang Holdings Corp. Ltd. #   34,004 
 26,617   Shanghai Lujiazui Finance and Trade Zone Development Co. Ltd.  #   41,349 
 48,700   Sunshine City Group Co. Ltd. #   47,523 
 130,081   Xinhu Zhongbao Co. Ltd.  #   54,853 
 106,023   Youngor Group Co. Ltd.  #   94,602 
         2,228,267 
Retailing: 0.4%     
 98,920   China Grand Automotive Services Co. Ltd. #   56,258 
 113,000   Suning Commerce Group Co. Ltd.  #   142,819 
         199,077 
Semiconductor: 1.7%     
 5,867   Gigadevice Semiconductor Beijing, Inc. #   198,229 
 79,883   LONGi Green Energy Technology Co. Ltd. #   277,338 
 74,123   Sanan Optoelectronics Co. Ltd.  #   197,444 
 3,600   Shenzhen Goodix Technology Co. Ltd. #   130,853 
 5,300   Will Semiconductor Ltd. #   114,739 
         918,603 
Software & Services: 1.9%     
 12,200   360 Security Technology, Inc. #   32,138 
 33,500   Aisino Co. Ltd. #   89,314 
 46,730   Anhui USTC iFlytek Co. Ltd. #   223,532 
 9,406   Beijing Shiji Information Technology Co. Ltd. #   37,941 
 20,500   Glodon Co. Ltd. #   121,981 
 18,790   Hundsun Technologies, Inc. #   230,465 
 58,931   Wangsu Science and Technology Co. Ltd. #   63,965 
 37,815   Yonyou Software Co. Ltd.  #   213,150 
         1,012,486 
Technology Hardware & Equipment: 6.5%     
 7,700   Avary Holding Shenzhen Co. Ltd. #   34,037 
 15,473   AVIC Jonhon OptronicTechnology Co. Ltd. #   74,259 
 718,533   BOE Technology Group Co. Ltd.  #   370,348 
 31,600   Chaozhou Three-Circle Group Co. Ltd. #   80,420 
 18,500   Dawning Information Industry Co. Ltd. #   112,774 
 132,800   Dongxu Optoelectronic Technology Co. Ltd. #   55,593 
 21,222   Fiberhome Telecommunication Technologies Co. Ltd. #   97,411 
 54,200   Foxconn Industrial Internet Co. Ltd. #   99,419 
 68,800   GoerTek, Inc. #   156,639 
 2,200   Guangzhou Shiyuan Electronic Technology Co. Ltd. #   23,995 
 113,070   Hangzhou Hikvision Digital Technology Co. Ltd.  #   439,315 
 39,740   Hengtong Optic-electric Co. Ltd. #   89,120 
 29,349   Lens Technology Co. Ltd. #   59,461 
 96,962   Luxshare Precision Industry Co. Ltd. #   514,512 
 57,450   OFILM Group Co. Ltd. * #   109,529 
 33,800   Shengyi Technology Co. Ltd. #   124,215 
 3,100   Shennan Circuits Co. Ltd. #   84,882 
 23,400   Shenzhen Sunway Communication Co. Ltd. * #   111,590 
 71,800   Tsinghua Tongfang Co. Ltd.  * #   79,990 
 24,500   Tsinghua Unisplendour Co. Ltd. #   120,477 
 54,495   Zhejiang Dahua Technology Co. Ltd.  #   122,862 
 70,120   ZTE Corp. * #   419,769 
         3,380,617 
Telecommunication Services: 0.4%     
 282,078   China United Network Communications Ltd. #   205,593 
Transportation: 2.7%     
 90,600   Air China Ltd. #   82,266 
 117,300   China COSCO Holdings Co. Ltd. * #   67,213 
 135,800   China Eastern Airlines Corp. Ltd. * #   78,237 
 130,000   China Southern Airlines Co. Ltd.  #   93,471 
 180,191   Daqin Railway Co. Ltd.  #   172,080 
 30,800   Guangzhou Baiyun International Airport Co. Ltd. #   54,018 
 348,700   Hainan Airlines Co. Ltd.  * #   75,677 
 119,767   Ningbo Port Co. Ltd.  #   59,390 
 14,700   Qingdao Port International Co. Ltd. #   11,919 
 26,700   SF Holding Co. Ltd. #   176,628 
 29,100   Shanghai International Airport Co. Ltd.  #   247,510 
 140,400   Shanghai International Port Group Co. Ltd.  #   87,815 
 11,200   Spring Airlines Co. Ltd. #   50,516 
 9,200   STO Express Co. Ltd. #   22,424 
 17,200   YTO Express Group Co. Ltd. #   27,802 
 20,140   Yunda Holding Co. Ltd. #   86,835 
         1,393,801 
Utilities: 2.4%     
 188,599   China National Nuclear Power Co. Ltd. #   116,455 
 266,800   China Yangtze Power Co. Ltd.  #   649,272 
 357,500   GD Power Development Co. Ltd.  #   101,884 
 98,679   Huadian Power International Corp. Ltd. #   47,918 
 54,400   Huaneng Lancang River Hydropower, Inc. #   27,791 
 133,057   Huaneng Power International, Inc. #   87,659 
 102,700   SDIC Power Holdings Co. Ltd.  #   114,639 
 53,300   Sichuan Chuantou Energy Co. Ltd.  #   68,963 
 123,710   Zhejiang Zheneng Electric Power Co. Ltd. #   58,959 
         1,273,540 
Total Common Stocks
(Cost: $47,471,480)		   52,376,125 
Liabilities in excess of other assets: (0.3)%   (177,469)
NET ASSETS: 100.0%  $52,198,656 

 

Footnotes:

* Non-income producing
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $52,376,125 which represents 100.3% of net assets.

 

Summary of Investments by Sector  % of
Investments		  Value  
Communication Services   1.9%  $974,549 
Consumer Discretionary   8.9    4,672,557 
Consumer Staples   13.2    6,926,732 
Energy   1.9    986,893 
Financials   31.8    16,666,393 
Health Care   8.1    4,233,651 
Industrials   11.4    5,966,265 
Information Technology   10.1    5,311,706 
Materials   6.0    3,135,572 
Real Estate   4.3    2,228,267 
Utilities   2.4    1,273,540 
    100.0%     $52,376,125 

 

VANECK VECTORS CHINAAMC SME-CHINEXT ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
of Shares		      Value 
COMMON STOCKS: 99.9%
Automobiles & Components: 1.8%
 51,022   Byd Co. Ltd.  #  $427,819 
Banks: 2.3%
 165,832   Bank of Ningbo Co. Ltd.  #   536,031 
 36,800   Qingdao Rural Commercial Bank Corp. #   22,504 
         558,535 
Capital Goods: 9.6%
 111,100   AVIC Electromechanical Systems Co. Ltd. #   112,301 
 50,700   Contemporary Amperex Technology Co. Ltd. #   855,561 
 31,905   Eve Energy Co. Ltd. * #   257,969 
 53,500   Han’s Laser Technology Co. Ltd. #   210,306 
 67,890   Shenzhen Inovance Technology Co. Ltd. #   245,070 
 74,322   Siasun Robot & Automation Co. Ltd. * #   141,303 
 85,949   Suzhou Gold Mantis Construction Decoration Co. Ltd.  #   98,276 
 156,830   Xinjiang Goldwind Science and Technology Co. Ltd.  #   207,866 
 73,926   Zhejiang Sanhua Intelligent Controls Co. Ltd. #   165,344 
         2,293,996 
Commercial & Professional Services: 0.6%
 108,063   Beijing Originwater Technology Co. Ltd. #   139,281 
Consumer Durables & Apparel: 1.7%
 29,280   Hangzhou Robam Appliances Co. Ltd. #   116,391 
 80,176   NavInfo Co. Ltd. #   157,548 
 36,500   Zhejiang Semir Garment Co. Ltd. #   36,333 
 9,923   Zhejiang Supor Co. Ltd. #   96,097 
         406,369 
Consumer Services: 1.1%
 34,300   Offcn Education Technology Co. Ltd. #   109,162 
 44,921   Songcheng Performance Development Co. Ltd. #   156,982 
         266,144 
Diversified Financials: 6.6%
 58,800   China Great Wall Securities Co. Ltd. #   99,845 
 313,615   East Money Information Co. Ltd. #   704,115 
 144,980   First Capital Securities Co. Ltd. #   139,972 
 133,743   Guoyuan Securities Co. Ltd.  #   207,622 
 12,200   Hithink RoyalFlush Information Network Co. Ltd. #   184,024 
 98,500   Shanxi Securities Co. Ltd.  #   96,794 
 111,054   Western Securities Co. Ltd.  #   128,513 
         1,560,885 
Food, Beverage & Tobacco: 12.0%
 23,400   Fujian Sunner Development Co. Ltd.  #   77,308 
 42,800   Guangdong Haid Group Co. Ltd. #   241,190 
 254,000   Guangdong Wens Foodstuffs Group Co. Ltd. #   1,149,350 
 34,238   Jiangsu Yanghe Brewery Joint-Stock Co. Ltd.  #   402,001 
 80,000   Jiangxi Zhengbang Technology Co. Ltd. #   213,234 
 45,000   Muyuan Foodstuff Co. Ltd. #   768,645 
         2,851,728 
Health Care Equipment & Services: 9.9%
 80,255   Aier Eye Hospital Group Co. Ltd. #   440,671 
 36,820   Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. #   188,066 
 70,398   Lepu Medical Technology Beijing Co. Ltd. #   355,231 
 157,216   Meinian Onehealth Healthcare Holdings Co. Ltd. #   259,993 
 24,600   Shenzhen Mindray Bio-Medical Electronics Co. Ltd. #   895,602 
 77,851   Winning Health Technology Group Co. Ltd. #   227,420 
         2,366,983 
Household & Personal Products: 0.5%
 46,600   By-health Co. Ltd. #   109,677 
Materials: 4.6%
 51,769   Beijing Oriental Yuhong Waterproof Technology Co. Ltd. #   245,134 
 46,900   Jiangxi Ganfeng Lithium Co. Ltd. #   263,103 
 63,400   Lomon Billions Group Co. Ltd. #   132,223 
 102,800   Rongsheng Petrochemical Co. Ltd. #   157,582 
 71,650   Sansteel Minguang Co. Ltd., Fujian #   79,925 
 57,676   Tianqi Lithium Industries, Inc. #   148,714 
 77,500   Zhejiang Transfar Co. Ltd. #   66,712 
         1,093,393 
Media & Entertainment: 6.6%
 58,510   Beijing Enlight Media Co. Ltd. #   72,702 
 680,060   Focus Media Information Technology Co. Ltd. #   419,478 
 28,080   Giant Network Group Co. Ltd. #   65,319 
 34,770   Mango Excellent Media Co. Ltd. * #   211,739 
 34,900   Perfect World Co. Ltd. #   231,829 
 45,750   Wanda Film Holding Co. Ltd. * #   100,669 
 72,100   Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co. Ltd. #   329,307 
 77,900   Zhejiang Century Huatong Group Co. Ltd. #   134,981 
         1,566,024 
Pharmaceuticals / Biotechnology: 10.0%
 10,400   BGI Genomics Co. Ltd. #   122,809 
 16,700   Chengdu Kanghong Pharmaceutical Group Co. Ltd. #   92,346 
 31,224   Chongqing Zhifei Biological Products Co. Ltd. #   296,245 
 31,300   Hangzhou Tigermed Consulting Co. Ltd. #   280,462 
 49,590   Hualan Biological Engineering, Inc. #   332,471 
 119,563   Shanghai RAAS Blood Products Co. Ltd. * #   129,372 
 17,200   Shenzhen Kangtai Biological Products Co. Ltd. #   275,061 
 22,340   Shenzhen Salubris Pharmaceuticals Co. Ltd.  #   55,482 
 58,498   Sichuan Kelun Pharmaceutical Co. Ltd.  #   168,992 
 77,900   Walvax Biotechnology Co. Ltd. #   345,130 
 71,770   Zhejiang NHU Co. Ltd.  #   273,667 
         2,372,037 
Real Estate: 0.5%
 106,500   RiseSun Real Estate Development Co. Ltd.  #   115,470 
Retailing: 1.1%
 211,338   Suning Commerce Group Co. Ltd.  #   267,107 
Semiconductor: 0.9%
 110,820   Tianjin Zhonghuan Semiconductor Joint-Stock Co. Ltd.  #   220,947 
Software & Services: 7.9%
 97,050   Anhui USTC iFlytek Co. Ltd. #   464,238 
 19,890   Beijing Shiji Information Technology Co. Ltd. #   80,230 
 65,700   Beijing Sinnet Technology Co. Ltd. #   218,363 
 119,458   DHC Software Co. Ltd.  #   215,197 
 45,175   Glodon Software Co. Ltd. #   268,805 
 9,400   Sangfor Technologies, Inc. #   208,542 
 277,463   Shanghai 2345 Network Holding Group Co. Ltd. #   107,554 
 38,215   Venustech Group, Inc. #   197,704 
 117,250   Wangsu Science and Technology Co. Ltd. #   127,266 
         1,887,899 
Technology Hardware & Equipment: 19.5%
 15,400   Avary Holding Shenzhen Co. Ltd. #   67,887 
 34,461   AVIC Jonhon Optronic Technology Co. Ltd. #   165,388 
 65,900   Chaozhou Three-Circle Group Co. Ltd. #   167,711 
 135,016   GoerTek, Inc. #   307,394 
 109,600   Guangdong LY Intelligent Manufacturing Co. Ltd. * #   125,318 
 104,000   Guangzhou Haige Communications Group, Inc. Co. #   163,664 
 4,500   Guangzhou Shiyuan Electronic Technology Co. Ltd. #   49,080 
 217,195   Hangzhou Hikvision Digital Technology Co. Ltd.  #   843,876 
 72,168   Lens Technology Co. Ltd. #   146,212 
 194,722   Luxshare Precision Industry Co. Ltd. #   1,033,258 
 13,500   NAURA Technology Group Co. Ltd. #   219,057 
 121,362   OFILM Group Co. Ltd. * #   231,377 
 6,500   Shennan Circuits Co. Ltd. #   178,796 
 50,501   Shenzhen Sunway Communication Co. Ltd. * #   240,829 
 24,700   Unigroup Guoxin Microelectronics Co. Ltd.   172,232 
 73,800   WUS Printed Circuit Kunshan Co. Ltd. #   244,289 
 6,600   Yealink Network Technology Corp. Ltd. #   74,934 
 99,705   Zhejiang Dahua Technology Co. Ltd.  #   224,790 
         4,656,092 
Transportation: 2.3%
 56,800   SF Holding Co. Ltd. #   375,748 
 16,200   STO Express Co. Ltd. #   39,486 
 29,388   Yunda Holding Co. Ltd. #   126,709 
         541,943 
Utilities: 0.4%
 136,100   CGN Power Co. Ltd. * #   55,832 
 40,300   Jiangsu Guoxin Corp. Ltd. * #   36,539 
         92,371 
Total Common Stocks
(Cost: $18,899,404)		   23,794,700 
Other assets less liabilities: 0.1%   34,265 
NET ASSETS: 100.0%  $23,828,965 
   
Footnotes:
* Non-income producing
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $23,794,700 which represents 99.9% of net assets.
   
Summary of Investments
by Sector		  % of
Investments		  Value 
Communication Services   6.6%       $1,566,024 
Consumer Discretionary   5.8    1,367,439 
Consumer Staples   12.4    2,961,405 
Financials   8.9    2,119,420 
Health Care   19.9    4,739,020 
Industrials   12.5    2,975,220 
Information Technology   28.4    6,764,938 
Materials   4.6    1,093,393 
Real Estate   0.5    115,470 
Utilities   0.4    92,371 
    100.0%  $23,794,700 

 

VANECK VECTORS COAL ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		       Value  
COMMON STOCKS: 100.1%
Australia: 22.5%
 547,574   Aurizon Holdings Ltd. #  $1,412,041 
 303,398   Coronado Global Resources, Inc. Reg S 144A #   212,064 
 509,107   New Hope Corp. Ltd. † #   428,655 
 86,397   Washington H. Soul Pattinson & Co. Ltd. #   888,348 
 804,560   Whitehaven Coal Ltd. #   940,139 
         3,881,247 
Canada: 10.3%
 163,919   Teck Resources Ltd. (USD) †   1,239,228 
 57,576   Westshore Terminals Investment Corp. †   529,100 
         1,768,328 
China / Hong Kong: 26.9%
 2,845,095   China Coal Energy Co. Ltd. #   782,740 
 864,908   China Shenhua Energy Co. Ltd. #   1,634,605 
 29,780,000   National United Resources Holdings Ltd. * # ∞   4 
 1,367,000   Sany Heavy Equipment International Holdings Co. Ltd. #   721,382 
 2,912,067   Shougang Fushan Resources Group Ltd. #   527,523 
 1,252,000   Yanzhou Coal Mining Co. Ltd. #   970,107 
         4,636,361 
Indonesia: 20.8%
 12,851,615   Adaro Energy Tbk PT #   767,916 
 81,626,800   Bumi Resources Tbk PT * #   249,826 
 620,752   Indo Tambangraya Megah Tbk PT #   304,429 
 5,637,200   Tambang Batubara Bukit Asam Tbk PT #   745,100 
 1,569,500   Transcoal Pacific Tbk PT #   463,977 
 1,014,500   United Tractors Tbk PT #   1,044,727 
         3,575,975 
Philippines: 2.5%
 2,001,430   Semirara Mining and Power Corp. #   431,491 
Poland: 1.4%
 82,927   Jastrzebska Spolka Weglowa SA † #   243,045 
South Africa: 5.7%
 180,201   Exxaro Resources Ltd. † #   989,208 
Thailand: 4.2%
 4,565,089   Banpu PCL (NVDR) #   726,137 
United States: 5.8%
 10,925   Arch Coal, Inc.   315,732 
 56,394   Peabody Energy Corp.   163,543 
 49,718   Warrior Met Coal, Inc.   528,005 
         1,007,280 
Total Common Stocks
(Cost: $39,357,378)		   17,259,072 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 8.7%
(Cost: $1,493,396)
Money Market Fund: 8.7%
 1,493,396   State Street Navigator Securities Lending Government Money Market Portfolio   1,493,396 
Total Investments: 108.8%
(Cost: $40,850,774)		   18,752,468 
Liabilities in excess of other assets: (8.8)%   (1,520,019)
NET ASSETS: 100.0%  $17,232,449 
 
Definitions:
NVDR Non-Voting Depositary Receipt
USD United States Dollar
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $2,022,528.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $14,483,464 which represents 84.0% of net assets.
∞ Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $212,064, or 1.2% of net assets.
   
Summary of Investments by Sector Excluding Collateral for Securities Loaned  % of
Investments		  Value 
Energy   66.0%     $11,382,703 
Industrials   18.1    3,126,504 
Materials   15.9    2,749,865 
    100.0%  $17,259,072 

 

VANECK VECTORS EGYPT INDEX ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		       Value  
COMMON STOCKS: 109.5%
Banks: 8.0%
 440,281   Commercial International Bank Egypt SAE (GDR) #  $1,593,410 
Capital Goods: 5.8%
 2,328,033   El Sewedy Electric Co. #   1,157,264 
Consumer Durables & Apparel: 3.5%
 2,023,801   Oriental Weavers   691,744 
Consumer Services: 4.6%
 1,459,390   Cairo Investment & Real Estate Development Co. SAE #   926,875 
Diversified Financials: 11.0%
 3,317,162   CI Capital Holding for Financial Investments * #   556,272 
 441,966   Egyptian Financial Group-Hermes Holding Co. Reg S (GDR) #   465,585 
 905,899   Egyptian Financial Group-Hermes Holding SAE #   476,945 
 2,138,513   Pioneers Holding *   411,671 
 4,090,959   Qalaa Holdings SAE * #   279,639 
         2,190,112 
Food, Beverage & Tobacco: 13.4%
 2,204,334   Eastern Co. SAE #   1,721,807 
 2,489,183   Juhayna Food Industries #   950,055 
         2,671,862 
Health Care Equipment & Services: 13.2%
 4,745,889   Cleopatra Hospital *   1,386,982 
 2,450,113   Ibnsina Pharma SAE #   1,244,609 
         2,631,591 
Materials: 18.9%
 2,310,338   Alexandria Mineral Oils Co. #   315,486 
 645,293   Centamin Plc #   956,417 
 1,860,000   Egyptian Kuwaiti Holding Co. (USD) #   1,739,241 
 1,305,868   Ezz Steel Co. SAE * #   454,884 
 883,375   Sidi Kerir Petrochemcials Co. #   307,956 
         3,773,984 
Real Estate: 23.9%
 3,538,389   Emaar Misr for Development SAE * #   584,078 
 2,246,439   Heliopolis Housing   483,826 
 4,834,715   Medinet Nasr Housing * #   955,755 
 8,992,680   Palm Hills Developments SAE * #   613,116 
 1,363,920   Six of October Development & Investment Co. #   804,772 
 4,158,950   Talaat Moustafa Group #   1,317,964 
         4,759,511 
Telecommunication Services: 7.2%
 15,131,133   Orascom Telecom Media and Technology Holding SAE * #   317,562 
 1,686,738   Telecom Egypt   1,125,206 
         1,442,768 
Total Common Stocks
(Cost: $28,553,606)		   21,839,121 
Liabilities in excess of other assets: (9.5)%   (1,902,448)
NET ASSETS: 100.0%  $19,936,673 
   
Definitions:
GDR Global Depository Receipt
USD United States Dollar
   
Footnotes:
* Non-income producing
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $17,739,692 which represents 89.0% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
   
Summary of Investments by Sector  % of
Investments		  Value 
Communication Services   6.6%      $1,442,768 
Consumer Discretionary   7.4    1,618,619 
Consumer Staples   12.2    2,671,862 
Financials   17.3    3,783,522 
Health Care   12.1    2,631,591 
Industrials   5.3    1,157,264 
Materials   17.3    3,773,984 
Real Estate   21.8    4,759,511 
    100.0%  $21,839,121 

 

VANECK VECTORS GOLD MINERS ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		       Value  
COMMON STOCKS: 99.7%
Australia: 13.0%
 101,726,579   Evolution Mining Ltd. ‡ #  $236,570,131 
 31,416,428   Newcrest Mining Ltd. #   429,293,908 
 38,796,733   Northern Star Resources Ltd. ‡ #   250,078,601 
 37,206,304   OceanaGold Corp. (CAD) ‡ †   35,288,938 
 69,527,366   Perseus Mining Ltd. ‡ * #   39,316,752 
 30,383,608   Regis Resources Ltd. ‡ #   67,190,134 
 53,998,184   Resolute Mining Ltd. ‡ * † #   26,641,413 
 65,907,880   Saracen Mineral Holdings Ltd. ‡ * † #   147,472,266 
 41,801,397   St. Barbara Ltd. ‡ #   54,919,160 
         1,286,771,303 
Canada: 53.4%
 9,802,184   Agnico-Eagle Mines Ltd. (USD) †   390,028,901 
 23,388,091   Alamos Gold, Inc. (USD) ‡   116,940,455 
 61,325,298   B2Gold Corp. (USD) ‡ †   187,655,412 
 72,643,723   Barrick Gold Corp. (USD)   1,330,833,005 
 17,551,919   Centerra Gold, Inc. ‡ *   103,213,940 
 10,685,866   Dundee Precious Metals, Inc. ‡ †   33,333,505 
 9,474,082   Eldorado Gold Corp. (USD) ‡ * †   58,455,086 
 187,109   Equinox Gold Corp. (USD) * †   1,240,533 
 12,243,988   First Majestic Silver Corp. (USD) ‡ * †   75,790,286 
 7,705,583   Franco-Nevada Corp. (USD) †   766,859,620 
 27,981,102   IAMGOLD Corp. (USD) ‡ *   63,796,913 
 74,943,424   Kinross Gold Corp. (USD) ‡ *   298,274,828 
 16,728,204   Kirkland Lake Gold Ltd. ‡ †   487,149,370 
 40,231,853   New Gold, Inc. (USD) ‡ *   20,542,384 
 9,411,059   Osisko Gold Royalties Ltd. (USD) ‡   70,018,279 
 12,532,501   Pan American Silver Corp. (USD) ‡ †   179,590,739 
 11,081,113   Pretium Resources, Inc. (USD) ‡ * †   62,829,911 
 10,450,907   Sandstorm Gold Ltd. (USD) ‡ * †   52,359,044 
 19,996,610   Semafo, Inc. ‡ * †   38,353,704 
 10,262,202   Silvercorp Metals, Inc. (USD) ‡   33,557,401 
 7,356,625   SSR Mining, Inc. (USD) ‡ * †   83,718,392 
 5,098,595   Torex Gold Resources, Inc. ‡ *   48,824,147 
 8,174,673   Wesdome Gold Mines Ltd. ‡ * †   42,442,712 
 20,507,962   Wheaton Precious Metals Corp. (USD) †   564,584,194 
 56,825,205   Yamana Gold, Inc. (USD) ‡   156,269,314 
         5,266,662,075 
China / Hong Kong: 1.9%
 62,730,500   Zhaojin Mining Industry Co. Ltd. ‡ † #   63,054,791 
 343,158,000   Zijin Mining Group Ltd. ‡ #   128,562,122 
         191,616,913 
Monaco: 0.9%
 6,572,029   Endeavour Mining Corp. (CAD) ‡ * †   92,392,103 
Peru: 1.1%
 15,175,108   Cia de Minas Buenaventura SAA (USD) ‡   110,626,537 
South Africa: 7.3%
 24,829,461   AngloGold Ashanti Ltd. (ADR) ‡ †   412,913,936 
 49,542,993   Gold Fields Ltd. (USD) ‡ †   235,329,217 
 32,421,804   Harmony Gold Mining Co. Ltd. (USD) ‡ * †   70,679,533 
         718,922,686 
United Kingdom: 1.6%
 69,113,477   Centamin Plc ‡ #   102,436,089 
 21,757,011   Highland Gold Mining Ltd. ‡ #   52,414,772 
         154,850,861 
United States: 20.5%
 17,618,688   Alacer Gold Corp. (CAD) ‡ *   56,197,593 
 14,375,889   Coeur Mining, Inc. ‡ *   46,146,604 
 29,626,313   Hecla Mining Co. ‡   53,919,890 
 33,500,577   Newmont Mining Corp.   1,516,906,127 
 3,921,669   Royal Gold, Inc. ‡   343,969,588 
         2,017,139,802 
Total Common Stocks
(Cost: $10,643,633,596)		   9,838,982,280 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.0%
(Cost: $96,092,105)
Money Market Fund: 1.0%
 96,092,105   State Street Navigator Securities Lending Government Money Market Portfolio   96,092,105 
Total Investments: 100.7%
(Cost: $10,739,725,701)		   9,935,074,385 
Liabilities in excess of other assets: (0.7)%   (71,425,310)
NET ASSETS: 100.0%  $9,863,649,075 
 
Definitions:
ADR American Depositary Receipt
CAD Canadian Dollar
USD United States Dollar
   
Footnotes:
‡ Affiliated issuer – as defined under the Investment Company Act of 1940.
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $168,220,460.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $1,597,950,139 which represents 16.2% of net assets.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value 
Gold   90.8%     $8,931,539,770 
Silver   9.2    907,442,510 
    100.0%  $9,838,982,280 

 

A summary of the Fund’s transactions in securities of affiliates for the period ended March 31, 2020 is set forth below:

 

Affiliates    Value 12/31/19   Purchases   Sales Proceeds   Realized Gain
(Loss)		   Dividend
Income		   Net Change in
Unrealized
Appreciation
(Depreciation)		   Value 03/31/20 
Alacer Gold Corp.  $98,668,191   $9,056,001   $(11,926,527)  $2,817,447   $—   $(42,417,519)  $56,197,593 
Alamos Gold, Inc.   148,183,745    17,320,912    (23,717,674)   6,676,486    358,507    (31,523,014)   116,940,455 
AngloGold Ashanti Ltd.   583,793,728    59,915,682    (81,043,216)   29,931,122    2,428,226    (179,683,380)   412,913,936 
B2Gold Corp.   258,816,788    28,557,002    (40,048,153)   10,035,705    642,082    (69,705,930)   187,655,412 
Centamin Plc   122,016,193    12,909,915    (19,305,661)   1,888,694    —    (15,073,052)   102,436,089 
Centerra Gold, Inc.   147,155,926    15,345,432    (20,629,106)   4,315,971    —    (42,974,283)   103,213,940 
Cia de Minas Buenaventura SAA   241,158,385    20,041,994    (25,276,828)   (5,057,225)   —    (120,239,789)   110,626,537 
Coeur Mining, Inc.   122,252,687    8,713,437    (10,463,358)   (776,394)   —    (73,579,768)   46,146,604 
Detour Gold Corp.   216,419,234    7,651,600    (146,064,791)   1,175,108    —    (79,181,151)   — 
Dundee Precious Metals, Inc.   48,403,977    5,043,831    (7,094,714)   (292,322)   219,185    (12,727,267)   33,333,505 
Eldorado Gold Corp.   80,070,037    8,410,387    (12,324,152)   2,833,450    —    (20,534,636)   58,455,086 
Endeavour Mining Corp.   130,838,546    14,708,689    (20,212,992)   185,519    —    (33,127,659)   92,392,103 
Evolution Mining Ltd.   285,107,900    32,681,220    (46,490,435)   10,495,042    5,041,739    (45,223,596)   236,570,131 
First Majestic Silver Corp.   157,985,327    12,687,036    (16,160,440)   1,955,317    —    (80,676,954)   75,790,286 
Gold Fields Ltd.   344,138,678    35,912,928    (49,835,243)   15,858,639    3,095,605    (110,745,785)   235,329,217 
Harmony Gold Mining Co. Ltd.   123,865,219    12,493,079    (17,127,204)   6,292,484    —    (54,844,045)   70,679,533 
Hecla Mining Co.   105,703,007    9,484,862    (12,371,551)   919,753    77,621    (49,816,181)   53,919,890 
Highland Gold Mining Ltd.   59,183,929    6,427,674    (9,532,461)   768,782    —    (4,433,152)   52,414,772 
IAMGOLD Corp.   109,845,516    10,055,386    (13,093,590)   (2,268,079)   —    (40,742,320)   63,796,913 
Kinross Gold Corp.   373,867,149    44,428,591    (62,525,430)   11,391,852    —    (68,887,334)   298,274,828 
Kirkland Lake Gold Ltd.   563,145,549    208,958,857    (92,475,727)   48,502,708    4,266,961    (240,982,017)   487,149,370 
New Gold, Inc.   37,261,514    3,853,735    (4,932,975)   (877,238)   —    (14,762,652)   20,542,384 
Northern Star Resources Ltd.   322,344,397    38,384,290    (54,870,573)   22,282,859    2,019,706    (78,062,372)   250,078,601 
OceanaGold Corp.   77,002,870    7,113,652    (9,084,762)   (2,199,218)   —    (37,543,604)   35,288,938 
Osisko Gold Royalties Ltd.   96,177,657    10,176,155    (13,626,991)   (751,157)   340,657    (21,957,385)   70,018,279 
Pan American Silver Corp.   312,466,101    29,683,766    (40,626,321)   9,602,065    681,171    (131,534,872)   179,590,739 
Perseus Mining Ltd.   59,258,632    5,572,407    (7,825,631)   64,692    —    (17,753,348)   39,316,752 
Pretium Resources, Inc.   129,804,682    11,433,099    (14,029,426)   (1,072,404)   —    (63,306,040)   62,829,911 
Regis Resources Ltd.   96,922,314    9,988,099    (13,643,561)   (1,027,966)   1,659,424    (25,048,752)   67,190,134 
Resolute Mining Ltd.   50,094,493    4,293,365    (5,686,455)   (944,771)   —    (21,115,219)   26,641,413 
Royal Gold, Inc.   504,581,618    47,636,913    (65,253,552)   9,182,790    1,155,688    (152,178,181)   343,969,588 
Sandstorm Gold Ltd.   81,945,776    8,109,786    (10,877,344)   2,085,405    —    (28,904,579)   52,359,044 
Saracen Mineral Holdings Ltd.   161,141,752    19,465,054    (27,575,047)   12,333,559    —    (17,893,052)   147,472,266 
Semafo, Inc.   43,820,064    4,791,489    (6,956,567)   (397,465)   —    (2,903,817)   38,353,704 
Silvercorp Metals, Inc.   61,254,547    5,071,558    (6,227,531)   (1,718,568)   —    (24,822,605)   33,557,401 
SSR Mining, Inc.   149,124,556    14,328,566    (18,975,731)   3,725,047    —    (64,484,046)   83,718,392 
St. Barbara Ltd.   83,729,671    8,301,139    (11,057,506)   (1,351,502)   1,158,669    (24,702,642)   54,919,160 
Torex Gold Resources, Inc.   84,910,581    8,203,321    (10,774,414)   1,845,432    —    (35,360,773)   48,824,147 
Wesdome Gold Mines Ltd.   67,489,359    6,681,371    (9,032,545)   (506,960)   —    (22,188,513)   42,442,712 
Yamana Gold, Inc.   236,234,921    25,752,459    (35,607,043)   5,341,261    728,405    (75,452,284)   156,269,314 
Zhaojin Mining Industry Co. Ltd.   72,449,148    8,707,476    (12,298,127)   1,987,534    —    (7,791,240)   63,054,791 
Zijin Mining Group Ltd.   179,209,244    17,994,242    (24,704,317)   3,499,648    —    (47,436,695)   128,562,122 
   $7,227,843,608   $876,346,457   $(1,141,385,672)  $208,753,102   $23,873,646   $(2,332,321,503)  $4,839,235,992 

 

VANECK VECTORS INDIA SMALL-CAP INDEX ETF

SCHEDULE OF INVESTMENTS (a)

March 31, 2020 (unaudited)

 

Number
of Shares		      Value 
COMMON STOCKS: 103.7%     
Automobiles & Components: 3.1%     
 1,127,799   Apollo Tyres Ltd. #  $1,180,572 
 137   Bajaj Auto Ltd. #   3,653 
 62,026   Ceat Ltd. #   648,646 
 418,972   Jamna Auto Industries Ltd. #   129,867 
 258,904   JK Tyre & Industries Ltd. #   137,748 
 3,061   Mahindra CIE Automotive Ltd. * #   2,801 
         2,103,287 
Banks: 6.4%     
 1,628,476   Andhra Bank * #   200,785 
 989   Bandhan Bank Ltd. Reg S 144A #   2,655 
 140,007   Can Fin Homes Ltd. #   516,098 
 182,383   CSB Bank Ltd. * #   283,934 
 693,285   Development Credit Bank Ltd. #   871,303 
 4,728   Federal Bank Ltd. #   2,555 
 303   HDFC Bank Ltd. #   3,453 
 480,101   Indian Bank * #   272,925 
 975,865   Jammu & Kashmir Bank Ltd. * #   161,281 
 667,359   Karnataka Bank Ltd. #   370,397 
 1,400,501   Karur Vysya Bank Ltd. #   371,984 
 523,356   Oriental Bank of Commerce * #   257,367 
 176,843   PNB Housing Finance Ltd. Reg S 144A #   379,475 
 3,885,019   South Indian Bank Ltd. #   291,996 
 1,952,488   Syndicate Bank * #   369,044 
         4,355,252 
Capital Goods: 16.8%     
 551   Amara Raja Batteries Ltd. #   3,485 
 43,788   BEML Ltd. #   259,121 
 143,809   Dilip Buildcon Ltd. Reg S 144A #   399,580 
 664,435   Engineers India Ltd. #   527,524 
 225   ESAB India Ltd. * #   3,208 
 263,142   Escorts Ltd. #   2,287,681 
 205,431   Graphite India Ltd. #   344,001 
 243,107   Greaves Cotton Ltd. * #   223,498 
 56,021   HEG Ltd. #   356,467 
 3,248,092   Hindustan Construction Co. Ltd. * #   168,984 
 30,408   IndiaMart InterMesh Ltd. Reg S 144A #   772,167 
 646,693   IRB Infrastructure Developers Ltd. * #   452,761 
 278,564   Kajaria Ceramics Ltd. #   1,376,669 
 270,320   KEC International Ltd. #   662,973 
 168,616   KEI Industries Ltd. #   596,020 
 657,168   MMTC Ltd. #   106,219 
 1,603,087   Nagarjuna Construction Co. Ltd. #   397,018 
 52,270   Nava Bharat Ventures Ltd. #   23,463 
 1,892,644   NBCC India Ltd. #   405,885 
 36,800   Nissei ASB Machine Co. Ltd. #   1,059,183 
 349   Polycab India Ltd. #   3,399 
 192,562   Praj Industries Ltd. #   139,240 
 115,689   Prince Pipes & Fittings Ltd. #   155,634 
 1,096,167   Rail Vikas Nigam Ltd. Reg S #   184,716 
 161,588   Sterling & Wilson Solar Ltd. Reg S #   163,633 
 11,420,219   Suzlon Energy Ltd. *   294,370 
 336   Timken India Ltd. #   3,376 
 156,099   Welspun Enterprises Ltd. #   81,620 
         11,451,895 
Commercial & Professional Services: 1.7%     
 229   L&T Technology Services Ltd. Reg S 144A #   3,509 
 187,520   Quess Corp. Ltd. Reg S 144A * #   527,551 
 186,198   RITES Ltd. #   602,122 
         1,133,182 
Consumer Durables & Apparel: 6.5%     
 33,065   Amber Enterprises India Ltd. #   534,663 
 555,508   Arvind Ltd. #   144,203 
 119,626   Bajaj Electricals Ltd. #   424,154 
 221   Bata India Ltd. #   3,581 
 217,165   Bombay Dyeing & Manufacturing Co. Ltd. #   130,502 
 12,166   Dixon Technologies India Ltd. Reg S #   571,835 
 103,525   Himatsingka Seide Ltd. #   81,454 
 77,115   Jindal Worldwide Ltd. #   31,187 
 26,553   LUX Industries Ltd. #   330,170 
 68,050   Raymond Ltd. #   199,917 
 256,829   Swan Energy Ltd. #   341,566 
 5,134,978   Trident Ltd. #   287,048 
 13,360   TTK Prestige Ltd. #   854,716 
 148,591   VIP Industries Ltd. #   471,143 
         4,406,139 
Consumer Services: 0.9%     
 1,298,085   Chennai Super Kings Cricket Ltd. * # ∞ ø   132,637 
 284,883   Delta Corp. Ltd. #   246,975 
 213   Jubilant Foodworks Ltd. #   4,126 
 833,022   Lemon Tree Hotels Ltd. Reg S 144A *   242,250 
         625,988 
Diversified Financials: 7.2%     
 82   Bajaj Finance Ltd. #   2,397 
 47,342   BSE Ltd. #   185,745 
 153,457   Capri Global Capital Ltd.   346,464 
 95,514   Care Ratings Ltd. #   410,158 
 109,878   Central Depository Services India Ltd. Reg S #   310,483 
 1,320   Cholamandalam Investment and Finance Co. Ltd. #   2,664 
 2,006,899   Edelweiss Financial Services Ltd. #   1,016,874 
 4,231   Equitas Holdings Ltd. Reg S * #   2,380 
 121   HDFC Asset Management Co. Ltd. Reg S 144A #   3,368 
 859   ICICI Securities Ltd. Reg S 144A #   3,138 
 3,357,042   IDFC Ltd. #   659,146 
 3,269,354   IFCI Ltd. * #   174,548 
 2,413   Manappuram Finance Ltd. #   3,000 
 75,966   Multi Commodity Exchange of India Ltd. #   1,126,390 
 403   Muthoot Finance Ltd. #   3,262 
 104,154   Repco Home Finance Ltd. #   162,659 
 392   Shriram Transport Finance Co. Ltd. #   3,427 
 67,614   Spandana Sphoorty Financial Ltd. * #   521,491 
         4,937,594 
Energy: 0.3%     
 156,576   Chennai Petroleum Corp. Ltd. * #   124,632 
 2,102   Coal India Ltd. #   3,863 
 139,050   Hindustan Oil Exploration Co. Ltd. * #   63,261 
 4,915   Oil and Natural Gas Corp. Ltd. #   4,401 
         196,157 
Food & Staples Retailing: 0.0%     
 154   Avenue Supermarts Ltd. Reg S 144A * #   4,454 
Food, Beverage & Tobacco: 6.2%     
 143,258   Avanti Feeds Ltd. #   555,995 
 568,669   Balrampur Chini Mills Ltd. #   777,231 
 73,363   Bombay Burmah Trading Co. #   702,965 
 45,558   Godfrey Phillips India Ltd. #   560,935 
 1,996   ITC Ltd. #   4,501 
 118,939   Kaveri Seed Co. Ltd. #   534,595 
 22   Nestle India Ltd. #   4,757 
 234,012   Radico Khaitan Ltd. #   824,821 
 260,707   Triveni Engineering & Industries Ltd. #   124,298 
 418   Varun Beverages Ltd. #   2,921 
 14,812   Venky’s India Ltd. #   164,451 
         4,257,470 
Health Care Equipment & Services: 1.0%     
 282,773   Max India Ltd. * #   226,816 
 155,548   Take Solutions Ltd. #   81,103 
 55,556   Thyrocare Technologies Ltd. Reg S 144A #   362,153 
         670,072 
Household & Personal Products: 0.0%     
 159   Hindustan Unilever Ltd. #   4,822 
Materials: 14.9%     
 371   Aarti Industries Ltd. #   3,758 
 117,426   Advanced Enzyme Technologies Ltd. Reg S #   220,580 
 2,620   Castrol India Ltd. #   3,442 
 233,608   Century Plyboards India Ltd. #   343,061 
 117,445   Century Textile & Industries Ltd. #   454,511 
 437,628   Chambal Fertilizers & Chemicals Ltd. #   625,672 
 163,968   DCM Shriram Ltd. #   465,168 
 143,493   Deepak Nitrite Ltd. #   725,252 
 186,105   EID Parry India Ltd. #   339,112 
 103,268   GHCL Ltd. #   121,471 
 163,418   Gujarat Narmada Valley Fertilizers Co. Ltd. #   247,261 
 440,254   Himadri Speciality Chemical Ltd. #   170,090 
 2,541   Hindalco Industries Ltd. #   3,201 
 486,419   Hindustan Copper Ltd. #   136,238 
 1,385   Huhtamaki PPL Ltd. #   3,545 
 543,079   India Cements Ltd. #   756,106 
 18,853   International Paper APPM Ltd. * #   34,983 
 211,088   Jai Corp. Ltd. #   140,713 
 518,326   Jindal Saw Ltd. #   314,341 
 123,726   JK Lakshmi Cement Ltd. #   319,541 
 187,418   JK Paper Ltd. #   183,465 
 35,351   Kiri Industries Ltd. #   127,590 
 267,403   Meghmani Organics Ltd. #   130,101 
 124,252   Mishra Dhatu Nigam Ltd. Reg S 144A #   293,051 
 249,543   MOIL Ltd. #   337,299 
 1,961,639   National Aluminium Co. Ltd. #   753,771 
 15,691   Nilkamal Ltd. #   206,288 
 4,290   NMDC Ltd. #   4,490 
 174,129   NOCIL Ltd. #   151,070 
 181,208   Phillips Carbon Black Ltd. #   149,415 
 240   PI Industries Ltd. #   3,723 
 529,264   Prism Johnson Ltd. #   211,101 
 353,657   Rain Industries Ltd. #   262,078 
 204,478   Rallis India Ltd. #   472,536 
 580,083   Rashtriya Chemicals & Fertilizers Ltd. #   216,441 
 72,790   Sudarshan Chemical Industries #   356,917 
 29,531   Tata Metaliks Ltd. #   128,790 
 16,074   Tata Steel BSL Ltd. * #   3,489 
 110,055   Tinplate Co. of India Ltd. #   109,673 
 75,928   Uflex Ltd. #   137,720 
 560,021   Welspun Corp. Ltd. #   462,111 
         10,129,165 
Media & Entertainment: 6.9%     
 26,809   Affle India Ltd. * #   357,720 
 1,967,895   Dish TV India Ltd. * #   106,128 
 470,672   Eros International Plc (USD) *   776,609 
 220,932   Inox Leisure Ltd. #   764,625 
 108,053   Just Dial Ltd. * #   418,027 
 112,483   PVR Ltd. #   1,758,812 
 857   Sun TV Network Ltd. #   3,226 
 62,740   TV Today Network Ltd. #   136,138 
 1,952,813   TV18 Broadcast Ltd. * #   401,500 
 1,772   Zee Entertainment Enterprises Ltd. #   2,884 
         4,725,669 
Pharmaceuticals / Biotechnology: 11.2%     
 256   Ajanta Pharma Ltd. #   4,606 
 564   Alembic Pharmaceuticals Ltd. #   3,942 
 134   Alkem Laboratories Ltd. #   4,085 
 780   Aurobindo Pharma Ltd. #   4,209 
 1,125   Biocon Ltd. #   4,012 
 108,456   Bliss Gvs Pharma Ltd. #   142,592 
 112   Dr Reddy’s Laboratories Ltd. #   4,560 
 605,744   Glenmark Pharmaceuticals Ltd. #   1,641,520 
 545,806   Granules India Ltd. #   1,015,992 
 1,457   IOL Chemicals and Pharmaceuticals Ltd. #   3,396 
 39,181   Ipca Laboratories Ltd. #   710,226 
 81,260   JB Chemicals & Pharmaceuticals Ltd. #   540,010 
 314,023   Jubilant Life Sciences Ltd. #   1,025,947 
 17,454   Procter & Gamble Health Ltd. #   829,527 
 45   Sanofi India Ltd. #   3,693 
 192,381   Strides Pharma Science Ltd. #   816,183 
 367,349   Sun Pharma Advanced Research Co. Ltd. * #   460,729 
 90,887   Suven Life Sciences Ltd. * #   25,912 
 18,019   Suven Pharmaceuticals Ltd. * #   47,887 
 1,158   Syngene International Ltd. Reg S 144A #   3,627 
 135,830   Wockhardt Ltd. * #   308,304 
         7,600,959 
Real Estate: 2.5%     
 1,271,562   Indiabulls Real Estate Ltd. * #   687,877 
 192,314   OMAXE Ltd.   388,181 
 1,281   Prestige Estates Projects Ltd. #   2,837 
 99,727   Sobha Developers Ltd. #   174,628 
 153,905   Sunteck Realty Ltd. #   424,432 
         1,677,955 
Retailing: 0.6%     
 698,933   Infibeam Avenues Ltd. #   314,121 
 77,914   Yatra Online, Inc. (USD) *   80,251 
         394,372 
Software & Services: 12.9%     
 715,253   Birlasoft Ltd. #   575,311 
 58,339   Ebix, Inc. (USD)   885,586 
 729,537   Firstsource Solutions Ltd. #   263,453 
 657   HCL Technologies Ltd. #   3,790 
 139,124   Intellect Design Arena Ltd. * #   99,863 
 200   Larsen & Toubro Infotech Ltd. Reg S 144A #   3,743 
 52,070   Mastek Ltd. #   129,919 
 377   MindTree Ltd.   4,130 
 432   Mphasis Ltd. #   3,776 
 303,783   NIIT Ltd. #   326,445 
 82,112   NIIT Technologies Ltd. #   1,242,855 
 164,065   Persistent Systems Ltd. #   1,194,662 
 138,215   Sonata Software Ltd. #   301,325 
 179   Tata Consultancy Services Ltd. #   4,306 
 65,433   Tata Elxsi Ltd. #   541,477 
 494   Tech Mahindra Ltd. #   3,680 
 2,275,539   Vakrangee Software Ltd. #   600,650 
 90,186   Virtusa Corp. *   2,561,282 
 1,641   Wipro Ltd. #   4,269 
         8,750,522 
Technology Hardware & Equipment: 1.6%     
 10   Honeywell Automation India Ltd. #   3,384 
 784,134   Redington India Ltd. #   707,408 
 424,754   Sterlite Technologies Ltd. #   356,107 
         1,066,899 
Telecommunication Services: 0.5%     
 1,425   Bharti Infratel Ltd.   3,014 
 2,757,235   Himachal Futuristic Communications Ltd. #   328,837 
         331,851 
Transportation: 1.7%     
 190,540   Gateway Distriparks Ltd. #   237,063 
 75,219   Mahindra Logistics Ltd. Reg S 144A #   224,158 
 489,773   Shipping Corp. of India Ltd. * #   240,756 
 630,585   SpiceJet Ltd. * #   307,247 
 87,077   VRL Logistics Ltd. #   177,197 
         1,186,421 
Utilities: 0.8%     
 1,578   Gujarat State Petronet Ltd. #   3,594 
 780   Indraprastha Gas Ltd. #   4,014 
 778,109   PTC India Ltd. #   397,717 
 117,407   VA Tech Wabag Ltd. * #   127,629 
         532,954 
Total Common Stocks
(Cost: $111,970,805)		   70,543,079 
Liabilities in excess of other assets: (3.7)%   (2,535,337)
NET ASSETS: 100.0%  $68,007,742 

 

Definitions:

USD United States Dollar

 

Footnotes:

(a) Represents Consolidated Schedule of Investments.
* Non-income producing
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $64,960,942 which represents 95.5% of net assets.
Ø Restricted Security – the aggregate value of restricted securities is $132,637, or 0.2% of net assets
∞ Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $3,224,879, or 4.7% of net assets.

 

Restricted securities held by the Fund as of March 31, 2020 are as follows:

 

Security  Acquisition
Date		  Number of
Shares		  Acquisition Cost   Value   % of
Net Assets
Chennai Super Kings Cricket Ltd.  10/08/15  1,298,085  $35,108   $132,637    0.2%

 

Summary of Investments by Sector  % of
Investments		  Value 
Communication Services  7.2%      $5,057,520 
Consumer Discretionary  10.7    7,529,786 
Consumer Staples  6.0    4,266,746 
Energy   0.3    196,157 
Financials   13.2    9,292,846 
Health Care   11.7    8,271,031 
Industrials   19.5    13,771,498 
Information Technology  13.9    9,817,421 
Materials   14.4    10,129,165 
Real Estate   2.4    1,677,955 
Utilities   0.7    532,954 
    100.0%  $70,543,079 

 

VANECK VECTORS INDONESIA INDEX ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.3%    
Automobiles & Components: 5.4%      
 4,935,000   Astra International Tbk PT #  $1,173,295 
Banks: 25.5%      
 1,152,900   Bank Central Asia Tbk PT #   1,942,542 
 4,014,602   Bank Mandiri Persero Tbk PT #   1,141,399 
 3,433,332   Bank Negara Indonesia Persero Tbk PT #   800,745 
 8,624,700   Bank Rakyat Indonesia Tbk PT #   1,581,814 
 2,059,000   Bank Tabungan Negara Tbk PT #   105,296 
          5,571,796 
Diversified Financials: 1.1%      
 1,013,250   First Pacific Company Ltd. #   187,251 
 3,967,400   Kresna Graha Investama Tbk PT * #   64,613 
          251,864 
Energy: 8.5%      
 7,773,700   Adaro Energy Tbk PT #   464,498 
 2,318,597   Banpu PCL (NVDR) #   368,803 
 1,903,900   Tambang Batubara Bukit Asam Tbk PT #   251,649 
 743,369   United Tractors Tbk PT #   765,518 
          1,850,468 
Food, Beverage & Tobacco: 15.2%      
 3,507,100   Charoen Pokphand Indonesia Tbk PT  #   1,055,315 
 1,975,900   Golden Agri-Resources Ltd. #   195,242 
 224,500   Gudang Garam Tbk PT #   564,056 
 1,077,000   Indofood Cbp Sukses Makmur Tbk PT #   671,759 
 2,134,000   Indofood Sukses Makmur Tbk PT #   825,563 
          3,311,935 
Health Care Equipment & Services: 1.6%      
 2,631,397   Mitra Keluarga Karyasehat Tbk PT Reg S #   346,179 
Household & Personal Products: 5.6%      
 2,781,500   Unilever Indonesia Tbk PT #   1,230,008 
Materials: 13.7%      
 12,547,800   Barito Pacific Tbk PT * #   549,879 
 1,128,500   Chandra Asri Petrochemical Tbk PT #   363,864 
 1,249,900   Indah Kiat Pulp and Paper Corp. Tbk PT #   305,200 
 876,800   Indocement Tunggal Prakarsa Tbk PT #   667,763 
 4,789,700   Merdeka Copper Gold Tbk PT * #   297,196 
 605,300   Pabrik Kertas Tjiwi Kimia Tbk PT #   147,229 
 1,412,700   Semen Gresik Persero Tbk PT #   656,237 
          2,987,368 
Media & Entertainment: 0.6%      
 2,729,000   Surya Citra Media Tbk PT #   129,632 
Pharmaceuticals / Biotechnology: 3.3%      
 9,797,400   Kalbe Farma Tbk PT #   718,378 
Real Estate: 3.3%      
 4,490,500   Bumi Serpong Damai Tbk PT * #   182,782 
 4,781,495   Ciputra Development Tbk PT #   128,931 
 18,953,900   Lippo Karawaci Tbk PT * #   154,930 
 7,959,000   Pakuwon Jati Tbk PT #   148,933 
 3,929,800   Summarecon Agung Tbk PT #   95,726 
          711,302 
Retailing: 4.6%  
 3,334,400   Ace Hardware Indonesia Tbk PT #   265,284 
 47,988   Jardine Cycle & Carriage Ltd. #   658,639 
 913,500   Matahari Department Store Tbk PT #   74,524 
          998,447 
Telecommunication Services: 10.1%      
 88,884   Telekomunikasi Indonesia Persero Tbk PT (ADR) †   1,711,017 
 5,176,100   Tower Bersama Infrastructure Tbk PT #   287,147 
 1,766,375   XL Axiata Tbk PT * #   215,292 
          2,213,456 
Transportation: 0.7%      
 1,058,350   Jasa Marga Persero Tbk PT #   164,017 
Utilities: 1.1%      
 5,066,700   Perusahaan Gas Negara Tbk PT #   238,716 
Total Common Stocks
(Cost: $46,150,121)		    21,896,861 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 4.2%
(Cost: $925,477)		      
Money Market Fund: 4.2%      
 925,477   State Street Navigator Securities Lending Government Money Market Portfolio   925,477 
Total Investments: 104.5%
(Cost: $47,075,598)		    22,822,338 
Liabilities in excess of other assets: (4.5)%    (978,937)
NET ASSETS: 100.0%   $21,843,401 

 

Definitions:
ADR American Depositary Receipt
NVDR Non-Voting Depositary Receipt

 

Footnotes:

* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $879,725.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $20,185,844 which represents 92.4% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.

 

Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value 
Communication Services   10.7%       $2,343,088 
Consumer Discretionary   9.9    2,171,742 
Consumer Staples   20.7    4,541,943 
Energy   8.5    1,850,468 
Financials   26.6    5,823,660 
Health Care   4.9    1,064,557 
Industrials   0.8    164,017 
Materials   13.6    2,987,368 
Real Estate   3.2    711,302 
Utilities   1.1    238,716 
    100.0%  $21,896,861 

 

VANECK VECTORS ISRAEL ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.1%     
Banks: 15.3%     
 377,010   Bank Hapoalim BM #  $2,261,580 
 481,422   Bank Leumi Le-Israel BM #   2,657,582 
 17,234   First International Bank of Israel Ltd. #   416,856 
 389,862   Israel Discount Bank Ltd. #   1,138,087 
 43,193   Mizrahi Tefahot Bank Ltd. #   795,907 
 5,932   Union Bank of Israel  #   22,581 
         7,292,593 
Capital Goods: 5.7%     
 8,144   Ashtrom Group Ltd. #   90,616 
 1,651   Bet Shemesh Engines Holdings 1997 Ltd. #   41,095 
 7,689   Caesarstone Ltd. (USD)   81,273 
 8,272   Elbit Systems Ltd. #   1,073,177 
 3,070   Elco Holdings Ltd. #   101,729 
 559   Electra Ltd. #   232,925 
 1,771   Ham-Let Israel-Canada Ltd. * #   25,533 
 36,565   Inrom Construction Industries Ltd. #   125,936 
 13,744   Kornit Digital Ltd. (USD) * †   342,088 
 950   Plasson Industries Ltd. #   31,031 
 10,525   RADA Electronic Industries Ltd. (USD) *   36,838 
 2,001   Scope Metals Group Ltd. #   32,690 
 38,520   Shapir Engineering and Industry Ltd. #   247,455 
 67,192   Shikun & Binui Ltd. #   236,904 
         2,699,290 
Commercial & Professional Services: 0.2%     
 1,608   Danel Adir Yeoshua Ltd. #   112,226 
Consumer Durables & Apparel: 0.4%     
 3,075   Delta-Galil Industries Ltd. #   47,438 
 3,252   Electra Consumer Products Ltd. #   57,178 
 13,897   Maytronics Ltd. #   86,989 
         191,605 
Consumer Services: 0.5%     
 113,982   888 Holdings Plc #   173,858 
 1,361   Fattal Holdings Ltd. #   45,914 
         219,772 
Diversified Financials: 1.6%     
 16,201   Altshuler Shaham Provident Funds & Pension Ltd. #   57,318 
 44,679   Isracard Ltd.   120,051 
 7,034   Nawi Brothers Ltd. * #   28,005 
 32,757   Plus500 Ltd. (GBP) #   432,549 
 33,383   Tel Aviv Stock Exchange Ltd. * #   112,641 
         750,564 
Energy: 1.5%     
 1,464   Delek Group Ltd. #   38,364 
 27,036   Energean Oil & Gas Plc * † #   192,211 
 11,840   Naphtha Israel Petroleum Corp. Ltd. * #   41,676 
 552,047   Oil Refineries Ltd. #   150,234 
 3,324   Paz Oil Co. Ltd. #   277,917 
 22,589   Tamar Petroleum Ltd. Reg S 144A #   11,656 
         712,058 
Food & Staples Retailing: 1.0%     
 2,481   Rami Levi Chain Stores Hashikma Marketing Ltd. #   137,086 
 58,981   Shufersal Ltd. #   334,151 
         471,237 
Food, Beverage & Tobacco: 1.0%     
 628   Neto ME Holdings Ltd. #   28,863 
 16,556   Strauss Group Ltd. #   435,431 
         464,294 
Health Care Equipment & Services: 4.3%     
 5,512   Brainsway Ltd. * #   20,317 
 3,933   Inmode Ltd. (USD) *   84,560 
 14,765   Intercure Ltd. * #   17,891 
 28,974   Mediterranean Towers Ltd. #   53,679 
 27,873   Novocure Ltd. (USD) *   1,876,968 
         2,053,415 
Insurance: 1.6%     
 13,814   Clal Insurance Enterprises Holdings Ltd. * #   114,058 
 36,420   Harel Insurance Investments & Financial Services Ltd. #   197,337 
 2,467   IDI Insurance Co. Ltd. #   66,084 
 7,419   Menorah Mivtachim Holdings Ltd. #   83,793 
 112,817   Migdal Insurance & Financial Holdings Ltd. #   58,703 
 48,093   Phoenix Holdings Ltd. #   229,523 
         749,498 
Materials: 1.9%     
 783   Hadera Paper Ltd. #   28,919 
 230,854   Israel Chemicals Ltd. #   736,082 
 1,218   Israel Corp. Ltd. * #   123,088 
         888,089 
Media & Entertainment: 0.1%     
 26,921   Taptica international Ltd. (GBP) *   46,733 
 55,600   XLMedia Plc (GBP) #   10,581 
         57,314 
Pharmaceuticals / Biotechnology: 8.4%     
 21,071   Compugen Ltd. (USD) *   152,975 
 20,359   Foamix Pharmaceuticals Ltd. (USD) * † # ∞   12,317 
 4,415   Galmed Pharmaceuticals Ltd. (USD) *   15,276 
 9,632   Intec Pharma Ltd. (USD) *   1,831 
 7,877   Kamada Ltd. * #   47,991 
 4,802   Pluristem Therapeutics, Inc. (USD) *   17,623 
 11,044   Redhill Biopharma Ltd. (ADR) * †   50,029 
 3,061   Taro Pharmaceutical Industries Ltd. (USD) *   187,333 
 380,201   Teva Pharmaceutical Industries Ltd. * #   3,382,362 
 5,814   UroGen Pharma Ltd. * †   103,722 
         3,971,459 
Real Estate: 7.6%     
 6,089   Africa Israel Properties Ltd. * #   153,578 
 24,109   Airport City Ltd. * #   351,248 
 37,938   Alony Hetz Properties & Investments Ltd. #   436,373 
 1,777   Alrov Properties and Lodgings Ltd. #   48,697 
 55,191   Amot Investments Ltd. #   324,317 
 10,955   Ashtrom Properties Ltd. #   51,962 
 12,339   Azrieli Group Ltd. #   706,295 
 336   Bayside Land Corp. #   194,669 
 1,959   Big Shopping Centers Ltd. #   141,438 
 1,631   Blue Square Real Estate Ltd. #   64,531 
 1,629   Brack Capital Properties NV  (ILS) * #   132,872 
 25,047   Gazit-Globe Ltd. #   191,438 
 86,829   Industrial Buildings Corp. * #   187,328 
 550   Isras Investment Co. Ltd. #   99,839 
 6,727   Mega Or Holdings Ltd.  #   164,734 
 5,380   Melisron Ltd. #   207,369 
 719   Property & Building Corp. #   44,825 
 10,599   Summit Real Estate Holdings Ltd. #   95,835 
         3,597,348 
Retailing: 0.4%     
 12,164   Delek Automotive Systems Ltd. #   47,267 
 3,358   Fiverr International Ltd. (USD) * †   84,521 
 2,334   Fox Wizel Ltd. #   77,216 
         209,004 
Semiconductor: 9.6%     
 7,297   Camtek Ltd. (USD) †   61,441 
 7,203   Ceva, Inc. (USD) *   179,571 
 7,246   DSP Group, Inc. (USD) *   97,096 
 17,635   Mellanox Technologies Ltd. (USD) * †   2,139,478 
 8,244   Nova Measuring Instruments Ltd. * #   271,224 
 16,204   SolarEdge Technologies, Inc. (USD) *   1,326,784 
 31,772   Tower Semiconductor Ltd. (USD) * †   505,810 
         4,581,404 
Software & Services: 31.9%     
 10,702   Allot Communications Ltd. (USD) * †   101,134 
 45,582   Amdocs Ltd.   2,505,643 
 40,368   Check Point Software Technologies Ltd. (USD) *   4,058,599 
 12,518   CyberArk Software Ltd. (USD) *   1,071,040 
 12,313   ForeScout Technologies, Inc. * †   388,968 
 2,337   Formula Systems Ltd. #   129,182 
 4,829   Hilan Ltd. #   150,609 
 20,187   LivePerson, Inc. (USD) * †   459,254 
 7,976   Magic Software Enterprises Ltd. (USD)   64,127 
 10,439   Matrix IT Ltd. #   169,966 
 19,298   NICE Systems Ltd. * #   2,793,599 
 8,465   Sapiens International Corp. NV (USD)   161,004 
 63,691   Splitit Payments Ltd. * #   12,632 
 4,222   Tufin Software Technologies Ltd. (USD) * †   37,069 
 9,793   Varonis Systems, Inc. * †   623,520 
 20,472   Verint Systems, Inc. *   880,296 
 15,898   Wix.com Ltd. (USD) * †   1,602,836 
         15,209,478 
Technology Hardware & Equipment: 2.2%     
 7,148   AudioCodes Ltd. (USD) †   170,766 
 112,748   BATM Advanced Communications (GBP) * #   62,761 
 20,400   Ceragon Networks Ltd. (USD) * †   25,704 
 8,750   Gilat Satellite Networks Ltd. #   64,666 
 6,604   Ituran Location and Control Ltd. (USD) †   93,843 
 9,480   Powerfleet, Inc. *   32,801 
 13,551   Radware Ltd. (USD) *   285,520 
 2,096   Silicom Ltd. (USD) * †   56,592 
 17,109   Stratasys Ltd. (USD) * †   272,889 
         1,065,542 
Telecommunication Services: 1.5%     
 674,770   Bezeq The Israeli Telecommunication Corp. Ltd. * #   490,694 
 20,342   Cellcom Israel Ltd. * #   59,102 
 48,529   Partner Communications Co. Ltd. * #   181,487 
         731,283 
Transportation: 0.0%     
 94,017   El Al Israel Airlines  * #   18,438 
Utilities: 3.4%     
 53,436   Energix-Renewable Energies Ltd. * #   152,527 
 208,595   Enlight Renewable Energy Ltd. * #   208,187 
 9,298   Kenon Holdings Ltd. (ILS) #   135,492 
 13,716   OPC Energy Ltd. #   95,706 
 15,311   Ormat Technologies, Inc.   1,035,942 
         1,627,854 
Total Common Stocks
(Cost: $46,938,551)		   47,673,765 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.8%
(Cost: $834,447)		     
Money Market Fund: 1.8%     
 834,447   State Street Navigator Securities Lending Government Money Market Portfolio   834,447 
Total Investments: 101.9%
(Cost: $47,772,998)		   48,508,212 
Liabilities in excess of other assets: (1.9)%   (882,971)
NET ASSETS: 100.0%  $47,625,241 

 

Definitions:

ADR American Depositary Receipt
GBP British Pound
ILS New Israeli Shekel
USD United States Dollar

 

Footnotes:

* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $5,768,379.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $26,234,217 which represents 55.1% of net assets.
∞ Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $11,656, or 0.0% of net assets.

 

Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value 
Communication Services   1.7%       $788,597 
Consumer Discretionary   1.3    620,381 
Consumer Staples   2.0    935,531 
Energy   1.5    712,058 
Financials   18.4    8,792,655 
Health Care   12.6    6,024,874 
Industrials   5.9    2,829,954 
Information Technology   43.8    20,856,424 
Materials   1.9    888,089 
Real Estate   7.5    3,597,348 
Utilities   3.4    1,627,854 
    100.0%  $47,673,765 

 

VANECK VECTORS JUNIOR GOLD MINERS ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 99.6%     
Australia: 23.0%     
 40,462,653   Aurelia Metals Ltd. #  $5,850,698 
 13,887,501   Dacian Gold Ltd. ‡ * † #   3,569,936 
 79,882,530   Evolution Mining Ltd. #   185,770,727 
 38,680,873   Gold Road Resources Ltd. * † #   32,719,340 
 31,724,013   Northern Star Resources Ltd. #   204,488,785 
 23,831,812   OceanaGold Corp. (CAD)   22,603,679 
 54,744,873   Perseus Mining Ltd. * #   30,957,459 
 32,750,296   Ramelius Resources Ltd. † #   20,019,528 
 23,817,569   Regis Resources Ltd. † #   52,670,033 
 38,668,804   Resolute Mining Ltd. * #   19,078,263 
 46,017,336   Saracen Mineral Holdings Ltd. * † #   102,966,153 
 40,231,115   Silver Lake Resources Ltd. * † #   34,089,334 
 33,168,045   St. Barbara Ltd. † #   43,576,562 
 17,599,788   Westgold Resources Ltd. * † #   20,352,561 
         778,713,058 
Canada: 49.2%     
 14,305,824   Alamos Gold, Inc. (USD) †   71,529,120 
 6,810,211   Alexco Resource Corp. (USD) ‡ *   8,308,457 
 4,311,500   Americas Gold & Silver Corp. (USD) *   6,639,710 
 39,064,477   B2Gold Corp. (USD) †   119,537,300 
 8,896,737   Centerra Gold, Inc. *   52,317,201 
 13,821,237   China Gold International Resources Corp. Ltd. * †   5,437,800 
 5,327,286   Dundee Precious Metals, Inc.   16,617,943 
 8,297,305   Eldorado Gold Corp. (USD) ‡ * †   51,194,372 
 7,591,637   Endeavour Silver Corp. (USD) ‡ * †   10,172,794 
 8,606,812   Equinox Gold Corp. *   56,840,575 
 9,396,971   First Majestic Silver Corp. (USD) * †   58,167,250 
 8,245,541   Fortuna Silver Mines, Inc. (USD) ‡ * †   19,047,200 
 7,296,656   Gold Standard Ventures Corp. (USD) * †   3,641,031 
 3,440,032   Golden Star Resources Ltd. (USD) * †   8,565,680 
 2,676,424   Gran Colombia Gold Corp. * †   7,615,497 
 1,689,860   Great Bear Resources Ltd. * †   7,064,086 
 16,759,702   Great Panther Silver Ltd. (USD) ‡ *   5,165,340 
 20,697,770   IAMGOLD Corp. (USD) *   47,190,916 
 10,574,131   K92 Mining, Inc. * †   21,989,973 
 52,312,492   Kinross Gold Corp. (USD) * †   208,203,718 
 4,090,260   Lundin Gold, Inc. * †   22,500,956 
 3,363,750   MAG Silver Corp. (USD) * †   25,833,600 
 17,598,862   McEwen Mining, Inc. (USD) * †   11,629,328 
 29,749,204   New Gold, Inc. (USD) *   15,189,944 
 11,253,555   NovaGold Resources, Inc. (USD) * †   83,051,236 
 7,753,010   Novo Resources Corp. * †   9,042,046 
 4,863,465   Osisko Gold Royalties Ltd. (USD) †   36,184,180 
 10,145,353   Osisko Mining, Inc. * †   15,894,992 
 9,565,891   Pan American Silver Corp. (USD) * #   3,252,403 
 10,434,337   Pan American Silver Corp. (USD) †   149,524,049 
 8,815,899   Premier Gold Mines Ltd. * †   7,370,583 
 7,098,834   Pretium Resources, Inc. (USD) * †   40,250,389 
 16,140,293   Roxgold, Inc. * †   9,298,514 
 26,748,278   Royal Nickel Corp. * †   5,825,669 
 8,480,286   Sandstorm Gold Ltd. (USD) * †   42,486,233 
 2,758,608   Seabridge Gold, Inc. (USD) * †   25,792,985 
 13,190,862   Semafo, Inc. *   25,300,210 
 9,299,642   Silvercorp Metals, Inc. (USD) ‡   30,409,829 
 4,747,437   SilverCrest Metals, Inc. (USD) * †   24,781,621 
 6,120,499   SSR Mining, Inc. (USD) * †   69,651,279 
 1,694,754   Sulliden Mining Capital, Inc. *   41,674 
 6,418,767   Teranga Gold Corp. *   31,161,471 
 2,879,457   Torex Gold Resources, Inc. *   27,573,681 
 6,388,595   Wesdome Gold Mines Ltd. * †   33,169,436 
 47,263,917   Yamana Gold, Inc. (USD) †   129,975,772 
         1,660,438,043 
China / Hong Kong: 1.2%     
 19,287,400   Real Gold Mining Ltd. * # ∞   2 
 39,009,000   Zhaojin Mining Industry Co. Ltd. #   39,210,661 
         39,210,663 
Indonesia: 1.0%     
 563,218,400   Merdeka Copper Gold Tbk PT * #   34,947,165 
Mexico: 3.9%     
 10,529,586   Fresnillo Plc (GBP) #   86,359,059 
 7,042,781   Industrias Penoles, SAB de CV   47,397,690 
         133,756,749 
Monaco: 1.5%     
 3,518,540   Endeavour Mining Corp. (CAD) *   49,464,984 
Peru: 2.8%     
 10,212,603   Cia de Minas Buenaventura SAA (ADR)   74,449,876 
 14,484,917   Hochschild Mining Plc (GBP) #   18,894,939 
         93,344,815 
Russia: 0.9%     
 12,271,475   Highland Gold Mining Ltd. (GBP) #   29,563,186 
South Africa: 10.0%     
 32,817,346   Gold Fields Ltd. (ADR) †   155,882,394 
 26,670,311   Harmony Gold Mining Co. Ltd. (ADR) * †   58,141,278 
 25,991,999   Sibanye Stillwater Ltd. (ADR) * †   122,682,235 
         336,705,907 
Turkey: 0.7%     
 2,614,889   Koza Altin Isletmeleri AS * #   24,209,924 
United Kingdom: 1.9%     
 43,606,388   Centamin Plc #   64,630,924 
United States: 3.5%     
 12,463,902   Alacer Gold Corp. (CAD) *   39,755,587 
 8,207,549   Argonaut Gold, Inc. (CAD) *   6,227,669 
 9,308,499   Coeur Mining, Inc. *   29,880,282 
 3,266,588   Gold Resource Corp.   8,983,117 
 18,976,683   Hecla Mining Co.   34,537,563 
         119,384,218 
Total Common Stocks
(Cost: $4,263,252,835)		   3,364,369,636 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 3.1%
(Cost: $102,629,941)		     
Money Market Fund: 3.1%     
 102,629,941   State Street Navigator Securities Lending Government Money Market Portfolio   102,629,941 
Total Investments: 102.7%
(Cost: $4,365,882,776)		   3,466,999,577 
Liabilities in excess of other assets: (2.7)%   (89,579,152)
NET ASSETS: 100.0%  $3,377,420,425 

 

Definitions:

ADR American Depositary Receipt
CAD Canadian Dollar
GBP British Pound
USD United States Dollar

 

Footnotes:

‡ Affiliated issuer – as defined under the Investment Company Act of 1940.
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $141,765,234.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $1,057,177,639 which represents 31.3% of net assets.
∞ Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy.

 

Summary of Investments by Sector Excluding
Collateral for Securities Loaned		  % of
Investments		  Value 
Diversified Metals & Mining   2.4%       $82,317,301 
Environmental & Facilities Ser   0.3    8,308,457 
Gold   81.7    2,749,429,215 
Precious Metals & Minerals   5.2    174,475,036 
Silver   10.4    349,839,627 
    100.0%  $3,364,369,636 

 

A summary of the Fund’s transactions in securities of affiliates for the period ended March 31, 2020 is set forth below:

 

Affiliates        Value 12/31/19  Purchases  Sales Proceeds  Realized Gain
(Loss)		  Dividend
Income		  Net Change in
Unrealized
Appreciation
(Depreciation)		  Value 03/31/20
Alexco Resource Corp.  $—   $10,622,395   $(881,371)  $102,998   $—   $(1,535,565)  $8,308,457 
Argonaut Gold, Inc.   14,435,644    3,170,938    (4,111,182)   (2,242,982)   —    (5,024,749)   —(a) 
Dacian Gold Ltd.   13,018,355    5,433,892    (3,266,695)   (324,071)   —    (11,291,545)   3,569,936 
Detour Gold Corp.   181,734,099    1,177,961    (165,579,677)   42,521,899    —    (59,854,282)   — 
Eldorado Gold Corp.   73,147,045    22,293,276    (26,928,331)   (4,405,001)   —    (12,912,617)   51,194,372 
Endeavour Silver Corp.   20,422,974    4,657,768    (5,725,223)   (3,407,252)   —    (5,775,473)   10,172,794 
First Majestic Silver Corp.   124,793,167    26,032,506    (30,942,793)   (2,044,146)   —    (59,671,484)   —(a) 
Fortuna Silver Mines, Inc.   34,976,747    8,726,407    (9,099,887)   (1,385,057)   —    (14,171,010)   19,047,200 
Gold Resource Corp.   19,463,815    4,624,340    (5,097,575)   (266,414)   34,966    (9,741,049)   —(a) 
Great Panther Silver Ltd.   9,618,682    2,814,817    (3,256,120)   (2,591,536)   —    (1,420,503)   5,165,340 
Harmony Gold Mining Co. Ltd.   109,086,669    31,581,803    (38,511,194)   3,431,253    —    (47,447,253)   —(a) 
IAMGOLD Corp.   89,982,908    22,061,258    (29,306,640)   (13,677,882)   —    (21,868,728)   —(a) 
Pan American Silver Corp.   281,572,897    75,977,053    (92,863,030)   (11,173,858)   593,702    (103,989,013)   —(a) 
Perseus Mining Ltd.   52,403,324    14,272,815    (18,323,079)   3,896,819    —    (21,292,420)   —(a) 
Ramelius Resources Ltd.   31,267,811    8,727,276    (10,330,587)   2,766,487    —    (12,411,459)   —(a) 
Regis Resources Ltd.   81,384,318    23,333,177    (29,320,019)   (5,514,039)   1,426,356    (17,213,404)   —(a) 
Roxgold, Inc.   15,552,339    4,336,099    (5,882,491)   (1,561,248)   —    (3,146,185)   —(a) 
Royal Nickel Corp.   12,503,299    2,856,868    (3,649,167)   (2,444,778)   —    (3,440,553)   —(a) 
Sandstorm Gold Ltd.   69,904,229    19,035,533    (22,985,450)   1,691,897    —    (25,159,976)   —(a) 
Silver Lake Resources Ltd.   41,916,219    14,486,432    (17,236,257)   5,650,781    —    (10,727,841)   —(a) 
Silvercorp Metals, Inc.   58,986,781    42,267,088    (45,857,746)   636,215    —    (25,622,509)   30,409,829 
SSR Mining, Inc.   134,317,641    36,233,499    (44,305,657)   4,983,589    —    (61,577,794)   —(a) 
St. Barbara Ltd.   71,165,348    19,380,571    (23,746,880)   (8,796,623)   1,028,256    (14,425,854)   —(a) 
Wesdome Gold Mines Ltd.   65,233,780    17,901,355    (26,509,672)   2,647,087    —    (26,103,114)   —(a) 
Yamana Gold, Inc.   212,879,242    67,078,972    (82,868,311)   5,639,353    610,185    (72,753,484)   —(a) 
   $1,819,767,333   $489,084,099   $(746,585,034)  $14,133,491   $3,693,465   $(648,577,864)  $127,867,928 

 

(a)  Security held by the Fund, however not classified as an affiliate at the end of the reporting period.

 

VANECK VECTORS LOW CARBON ENERGY ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.0%     
Austria: 2.4%     
 56,247   Verbund - Oesterreichische Elektrizis AG † #  $2,018,225 
Brazil: 1.3%     
 88,100   Cosan Ltd. (USD) *   1,083,630 
Canada: 4.1%     
 37,692   Canadian Solar, Inc. (USD) * †   599,680 
 142,398   Northland Power, Inc. †   2,810,243 
         3,409,923 
China / Hong Kong: 2.9%     
 2,566,000   China Longyuan Power Group Corp. Ltd. #   1,400,872 
 34,760   JinkoSolar Holding Co. Ltd. (ADR) * †   516,186 
 594,180   Xinjiang Goldwind Science & Technology Co. Ltd. #   512,434 
         2,429,492 
Denmark: 8.7%     
 88,956   Vestas Wind Systems A/S #   7,204,222 
Spain: 3.3%     
 185,671   Siemens Gamesa Renewable Energy SA #   2,725,753 
Sweden: 5.2%     
 301,337   Nibe Industrier AB #   4,352,003 
Thailand: 1.7%     
 1,417,300   Energy Absolute PCL (NVDR) #   1,453,784 
United States: 70.4%     
 32,729   Acuity Brands, Inc.   2,803,566 
 107,303   AMETEK, Inc.   7,727,962 
 24,046   Badger Meter, Inc.   1,288,866 
 102,055   Covanta Holding Corp.   872,570 
 88,971   Cree, Inc. *   3,154,912 
 95,431   Eaton Corp. Plc   7,414,034 
 34,929   EnerSys, Inc.   1,729,684 
 66,137   Enphase Energy, Inc. *   2,135,564 
 62,720   First Solar, Inc. * †   2,261,683 
 31,807   Franklin Electric Co. Inc.   1,499,064 
 29,374   Itron, Inc. *   1,639,950 
 116,257   Microchip Technology, Inc. †   7,882,225 
 42,154   Ormat Technologies, Inc.   2,852,140 
 24,303   Power Integrations, Inc.   2,146,684 
 32,188   Renewable Energy Group, Inc. *   660,820 
 70,736   SunPower Corp. * †   358,631 
 82,891   Sunrun, Inc. *   837,199 
 12,925   Tesla, Inc. *   6,772,700 
 35,023   Universal Display Corp.   4,615,331 
         58,653,585 
Total Common Stocks
(Cost: $73,451,424)		   83,330,617 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.2%
(Cost: $199,435)		     
Money Market Fund: 0.2%     
 199,435   State Street Navigator Securities Lending Government Money Market Portfolio   199,435 
Total Investments: 100.2%
(Cost: $73,650,859)		   83,530,052 
Liabilities in excess of other assets: (0.2)%   (207,418)
NET ASSETS: 100.0%  $83,322,634 

 

Definitions:

ADR American Depositary Receipt
NVDR Non-Voting Depositary Receipt
USD United States Dollar

 

Footnotes:

* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $12,383,939.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $19,667,293 which represents 23.6% of net assets.

 

Summary of Investments by Sector Excluding
Collateral for Securities Loaned		  % of
Investments		  Value 
Consumer Discretionary   8.1%  $6,772,700 
Energy   2.1    1,744,450 
Industrials   45.2    37,678,491 
Information Technology   31.9    26,599,712 
Utilities   12.7    10,535,264 
    100.0%  $83,330,617 

 

VANECK VECTORS NATURAL RESOURCES ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.0%     
Argentina: 0.1%     
 6,925   Adecoagro SA (USD) *  $26,938 
 1,587   YPF SA (ADR) †   6,618 
         33,556 
Australia: 4.9%     
 6,035   AGL Energy Ltd. #   62,845 
 39,853   Alumina Ltd. † #   35,539 
 14,545   Bega Cheese Ltd. † #   40,676 
 49,673   BHP Group Ltd. † #   896,665 
 8,814   BlueScope Steel Ltd. #   45,917 
 2,291   Caltex Australia Ltd. #   30,782 
 27,808   Costa Group Holdings Ltd. #   46,930 
 10,116   Elders Ltd. #   46,533 
 22,695   Evolution Mining Ltd. #   52,778 
 28,581   Fortescue Metals Group Ltd. #   174,282 
 15,195   GrainCorp. Ltd. * #   29,150 
 7,131   Iluka Resources Ltd. #   30,005 
 11,008   Newcrest Mining Ltd. #   150,420 
 19,828   Nufarm Ltd. * † #   61,035 
 12,169   Oil Search Ltd. #   17,561 
 16,124   Origin Energy Ltd. #   43,114 
 16,243   Santos Ltd. #   33,194 
 15,090   Saracen Mineral Holdings Ltd. * † #   33,765 
 82,346   South32 Ltd. #   90,452 
 8,645   Woodside Petroleum Ltd. † #   95,453 
         2,017,096 
Austria: 0.3%     
 128   Mayr-Melnhof Karton AG #   15,917 
 1,321   OMV AG #   35,966 
 802   Verbund - Oesterreichische Elektrizis AG † #   28,777 
 2,109   Voestalpine AG #   42,334 
         122,994 
Brazil: 2.1%     
 4,024   Cia de Saneamento Basico do Estado de Sao Paulo (ADR)   29,697 
 10,771   Cia Siderurgica Nacional SA (ADR) †   14,110 
 1,400   Cosan S.A. Industria e Comercio   14,511 
 17,795   Gerdau SA (ADR) †   33,988 
 16,150   Klabin SA   49,790 
 17,069   Petroleo Brasileiro S.A. (ADR)   93,880 
 6,350   SLC Agricola SA   27,792 
 7,850   Suzano SA   54,169 
 66,889   Vale SA (ADR)   554,510 
         872,447 
Canada: 11.3%     
 3,433   Agnico-Eagle Mines Ltd. (USD)   136,599 
 5,600   Alamos Gold, Inc.   27,816 
 6,173   Algonquin Power & Utilities Corp. †   82,185 
 14,754   B2Gold Corp.   44,158 
 25,455   Barrick Gold Corp. (USD)   466,336 
 876   Boralex Inc   15,386 
 10,890   Canadian Natural Resources Ltd. (USD)   147,560 
 9,355   Cenovus Energy, Inc. †   18,666 
 3,068   Centerra Gold, Inc. *   18,041 
 18,572   Enbridge, Inc. (USD)   540,260 
 2,623   First Majestic Silver Corp. * †   16,070 
 10,821   First Quantum Minerals Ltd.   54,662 
 2,699   Franco-Nevada Corp.   266,629 
 2,765   Husky Energy, Inc. †   6,877 
 6,700   IAMGOLD Corp. * †   15,063 
 2,115   Imperial Oil Ltd. (USD) †   23,836 
 1,517   Innergex Renewable Energy, Inc.   20,410 
 17,952   Kinross Gold Corp. (USD) *   71,449 
 3,820   Kirkland Lake Gold Ltd.   111,244 
 803   Lundin Gold, Inc. *   4,417 
 10,792   Lundin Mining Corp.   40,109 
 898   Methanex Corp.   10,807 
 3,432   NovaGold Resources, Inc. (USD) *   25,328 
 42,744   Nutrien Ltd. (USD)   1,450,731 
 2,052   Osisko Gold Royalties Ltd. †   15,138 
 3,001   Pan American Silver Corp. (USD)   43,004 
 5,022   Pembina Pipeline Corp. †   93,147 
 2,601   Pretium Resources, Inc. * †   14,674 
 1,763   SSR Mining, Inc. (USD) *   20,063 
 14,005   Suncor Energy, Inc. (USD)   221,279 
 8,609   TC Energy Corp. (USD)   381,379 
 8,207   Teck Resources Ltd. (USD)   62,045 
 1,251   TransAlta Renewables Inc †   13,069 
 751   West Fraser Timber Co. Ltd.   14,162 
 6,403   Wheaton Precious Metals Corp. (USD)   176,275 
 13,608   Yamana Gold, Inc. (USD)   37,422 
         4,706,296 
Chile: 0.8%     
 32,164   Aguas Andinas SA   9,510 
 5,824   Antofagasta Plc (GBP) #   55,526 
 16,768   Empresas CMPC SA #   35,869 
 21,967   Hortifrut SA #   19,610 
 8,532   Sociedad Quimica y Minera de Chile SA (ADR)   192,397 
         312,912 
China / Hong Kong: 1.8%     
 62,700   Aluminum Corp. of China Ltd. * #   12,318 
 24,840   Angang Steel Co. Ltd. † #   6,479 
 121,375   China BlueChemical Ltd. #   18,641 
 19,600   China Coal Energy Co. Ltd. #   5,392 
 18,100   China Gas Holdings Ltd. #   62,603 
 27,700   China Hongqiao Group Ltd. #   11,709 
 36,729   China Longyuan Power Group Corp. Ltd. #   20,052 
 60,000   China Molybdenum Co. Ltd. † #   16,498 
 14,100   China Oilfield Services Ltd. (Class H) #   10,767 
 233,527   China Petroleum & Chemical Corp. #   114,130 
 31,291   China Shenhua Energy Co. Ltd. #   59,137 
 147,779   CNOOC Ltd. #   153,605 
 41,700   Fosun International Ltd. #   47,883 
 20,800   Huadian Fuxin Energy Corp Ltd #   3,411 
 19,400   Jiangxi Copper Co. Ltd. (Class H) #   17,806 
 37,000   Kunlun Energy Co. Ltd. #   21,388 
 18,200   Lee & Man Paper Manufacturing Ltd. #   10,919 
 13,700   Maanshan Iron and Steel Co. Ltd. (Class H) † #   4,264 
 24,657   Nine Dragons Paper Holdings Ltd. #   22,345 
 193,640   PetroChina Co. Ltd. (Class-H) #   70,200 
 14,000   Yanzhou Coal Mining Co. Ltd. #   10,848 
 14,300   Zhaojin Mining Industry Co. Ltd. #   14,374 
 81,161   Zijin Mining Group Ltd. #   30,407 
         745,176 
Denmark: 0.9%     
 3,574   Bakkafrost P/F (NOK) #   167,667 
 2,342   Vestas Wind Systems A/S #   189,670 
         357,337 
Finland: 0.5%     
 3,951   Neste Oil Oyj #   130,688 
 9,127   Stora Enso Oyj (R Shares) #   90,792 
         221,480 
France: 2.4%     
 371   Neoen SA Reg S 144A * #   11,554 
 4,992   Suez #   50,456 
 21,959   Total SA #   823,150 
 6,093   Veolia Environnement SA #   128,030 
         1,013,190 
Germany: 0.9%     
 25,818   E.ON SE #   263,476 
 1,007   Encavis AG #   10,020 
 4,875   Suedzucker AG #   69,315 
 8,300   ThyssenKrupp AG * #   43,494 
         386,305 
Hungary: 0.1%     
 4,435   MOL Hungarian Oil & Gas Plc #   25,894 
India: 1.1%     
 14,232   Reliance Industries Ltd. 144A (GDR)   435,890 
Indonesia: 0.0%     
 38,200   Indah Kiat Pulp and Paper Corp. Tbk PT #   9,328 
 18,500   Pabrik Kertas Tjiwi Kimia Tbk PT #   4,500 
         13,828 
Ireland: 0.2%     
 3,555   Smurfit Kappa Group Plc (GBP) #   100,241 
Israel: 0.5%     
 2,001   Energix-Renewable Energies Ltd. * #   5,712 
 51,509   Israel Chemicals Ltd. #   164,237 
 276   Israel Corp. Ltd. * #   27,892 
         197,841 
Italy: 0.6%     
 23,336   ENI S.p.A. #   230,713 
Japan: 6.1%     
 1,700   Daio Paper Corp. † #   22,753 
 3,417   Hitachi Metals Ltd. † #   35,724 
 1,800   Hokuto Corp. #   31,314 
 1,900   Idemitsu Kosan Co. Ltd. † #   43,192 
 9,900   Inpex Corp. #   55,318 
 9,764   JFE Holdings, Inc. #   63,019 
 29,600   JXTG Holdings, Inc. #   100,457 
 86,400   Kubota Corp. #   1,094,548 
 7,400   Kumiai Chemical Industry Co. Ltd. † #   56,723 
 1,365   Kurita Water Industries Ltd. #   31,192 
 3,336   Maruha Nichiro Corp. #   69,336 
 2,200   Mitsubishi Materials Corp. † #   44,796 
 1,700   Nippon Paper Industries Co. Ltd. † #   24,074 
 16,000   Nippon Steel Corp. † #   135,846 
 23,314   Nippon Suisan Kaisha Ltd. #   102,190 
 18,750   Nisshin Seifun Group, Inc. #   311,547 
 14,276   Oji Holdings Corp. #   75,591 
 3,670   Rengo Co. Ltd. #   28,414 
 2,700   Sakata Seed Corp. #   81,589 
 2,483   Sumitomo Forestry Co. Ltd. #   31,575 
 4,700   Sumitomo Metal Mining Ltd. #   95,706 
         2,534,904 
Luxembourg: 0.3%     
 10,799   Arcelormittal #   101,425 
 2,165   Tenaris SA (ADR)   26,088 
 895   Ternium SA (ADR)   10,651 
         138,164 
Malaysia: 1.2%     
 114,239   Felda Global Ventures Holdings Bhd * #   22,601 
 25,351   Genting Plantation Bhd #   55,643 
 145,294   IOI Corp. Bhd #   133,947 
 23,978   Kuala Lumpur Kepong Bhd #   116,276 
 1,700   Petronas Dagangan Bhd #   8,388 
 39,200   PPB Group Bhd #   148,630 
 26,600   Press Metal Aluminium Holdings Bhd #   20,348 
         505,833 
Mexico: 0.6%     
 2,637   Fresnillo Plc (GBP) #   21,628 
 16,390   Gruma, SAB de CV   126,925 
 53,814   Grupo Mexico, SAB de CV   100,337 
 1,762   Industrias Penoles, SAB de CV   11,858 
         260,748 
Monaco: 0.0%     
 1,086   Endeavour Mining Corp. (CAD) *   15,267 
Netherlands: 1.6%     
 6,288   OCI NV * † #   74,757 
 34,359   Royal Dutch Shell Plc (GBP) #   575,342 
         650,099 
Norway: 2.7%     
 10,106   Equinor ASA #   124,728 
 33,564   Mowi ASA #   502,416 
 23,046   Norsk Hydro ASA #   49,196 
 1,398   Norway Royal Salmon ASA #   27,804 
 13,007   Yara International ASA #   407,175 
         1,111,319 
Peru: 0.2%     
 3,227   Cia de Minas Buenaventura SAA (ADR)   23,525 
 1,436   Southern Copper Corp. (USD) †   40,438 
         63,963 
Poland: 0.2%     
 2,296   KGHM Polska Miedz SA * #   32,682 
 2,667   Polski Koncern Naftowy Orlen SA #   35,544 
 14,842   Polskie Gornictwo Naftowe I Gazownictwo SA #   12,208 
         80,434 
Portugal: 0.1%     
 3,961   Galp Energia, SGPS, SA #   45,067 
 3,316   Navigator Co. SA #   7,831 
         52,898 
Russia: 3.3%     
 8,821   Evraz Plc (GBP) #   25,194 
 55,377   Gazprom PJSC (ADR) #   251,120 
 3,870   Lukoil PJSC (ADR) #   228,066 
 10,149   MMC Norilsk Nickel PJSC (ADR)   251,394 
 919   Novatek PJSC Reg S (GDR)   104,208 
 1,922   Novolipetsk Steel PJSC Reg S (GDR) #   29,877 
 10,145   PhosAgro PJSC Reg S (GDR)   103,629 
 3,973   Polymetal International Plc (GBP) #   67,882 
 10,695   Rosneft Oil Co. PJSC Reg S (GDR) #   43,049 
 3,201   Severstal PAO Reg S (GDR) #   35,071 
 32,773   Surgutneftegas PJSC (ADR) #   135,786 
 2,283   Tatneft PJSC (ADR)   95,257 
         1,370,533 
Singapore: 0.8%     
 494,119   Golden Agri-Resources Ltd. #   48,825 
 132,164   Wilmar International Ltd. #   298,352 
         347,177 
South Africa: 0.9%     
 888   Anglo American Platinum Ltd. #   37,147 
 5,944   AngloGold Ashanti Ltd. (ADR)   98,849 
 2,838   Astral Foods Ltd. #   30,376 
 11,864   Gold Fields Ltd. (ADR)   56,354 
 6,638   Harmony Gold Mining Co. Ltd. (ADR) *   14,471 
 11,440   Impala Platinum Holdings Ltd. † #   47,734 
 924   Kumba Iron Ore Ltd. #   14,428 
 6,569   Northam Platinum Ltd. * #   25,099 
 5,259   Sasol Ltd. * #   10,909 
 30,641   Sibanye Stillwater Ltd. *   38,722 
         374,089 
South Korea: 0.9%     
 1,441   Hyundai Steel Co. #   21,068 
 214   Korea Zinc Co. Ltd. #   62,278 
 1,192   POSCO #   156,853 
 517   SK Energy Co. Ltd. #   36,581 
 433   SK Holdings Co. Ltd. #   59,228 
 372   S-Oil Corp. #   17,282 
 600   Woongjin Coway Co. Ltd. #   28,382 
         381,672 
Spain: 0.5%     
 2,558   Acerinox SA #   17,129 
 1,746   EDP Renovaveis SA #   20,900 
 13,493   Repsol YPF SA #   119,758 
 2,647   Siemens Gamesa Renewable Energy SA #   38,859 
         196,646 
Sweden: 0.7%     
 2,637   Billerudkorsnas AB † #   28,709 
 4,615   Boliden AB #   82,666 
 1,481   Holmen AB † #   40,089 
 1,732   Lundin Energy AB #   32,644 
 10,655   SSAB AB (B Shares) † #   23,216 
 9,029   Svenska Cellulosa AB  † #   89,213 
         296,537 
Switzerland: 0.4%     
 100,227   Glencore Plc (GBP) #   151,436 
Taiwan: 0.6%     
 212,472   China Steel Corp. #   133,094 
 15,920   Formosa Petrochemical Corp. #   42,504 
 56,200   Taiwan Fertilizer Co. Ltd. #   77,204 
         252,802 
Thailand: 0.3%     
 20,200   Energy Absolute PCL (NVDR) #   20,720 
 12,700   PTT Exploration & Production PCL (NVDR) #   25,848 
 78,600   PTT PCL (NVDR) #   72,666 
         119,234 
Turkey: 0.1%     
 23,036   Eregli Demir ve Celik Fabrikalari TAS #   26,193 
 1,126   Tupras-Turkiye Petrol Rafinerileri AS * #   12,859 
         39,052 
United Kingdom: 6.7%     
 20,481   Anglo American Plc #   358,280 
 694   Atlantica Yield plc (USD)   15,476 
 174,668   BP Plc #   715,064 
 16,551   Centamin Plc #   24,531 
 53,395   Centrica Plc #   25,116 
 74,128   CNH Industrial NV (USD) †   415,858 
 20,455   DS Smith Plc #   69,211 
 3,827   KAZ Minerals Plc † #   16,568 
 7,237   Mondi Plc #   121,917 
 4,957   Pennon Group Plc #   66,166 
 16,802   Rio Tinto Plc #   768,908 
 2,802   Severn Trent Plc #   79,179 
 3,854   TechnipFMC Plc (USD)   25,976 
 8,030   United Utilities Group Plc #   89,732 
         2,791,982 
United States: 43.3%     
 4,674   AGCO Corp.   220,847 
 3,131   Alcoa Corp. *   19,287 
 434   American States Water Co.   35,475 
 3,450   Apache Corp.   14,421 
 41,532   Archer-Daniels-Midland Co.   1,461,096 
 6,916   Arconic, Inc. *   111,071 
 5,962   Baker Hughes Co.   62,601 
 10,583   Bunge Ltd.   434,221 
 3,655   Cabot Oil & Gas Corp.   62,829 
 572   California Water Service Group   28,783 
 2,260   Cal-Maine Foods, Inc.   99,395 
 16,127   CF Industries Holdings, Inc.   438,654 
 2,284   Cheniere Energy, Inc. *   76,514 
 17,241   Chevron Corp.   1,249,283 
 927   Clearway Energy, Inc.   17,428 
 1,804   Concho Resources, Inc.   77,301 
 9,918   ConocoPhillips   305,474 
 783   Continental Resources, Inc. †   5,982 
 1,269   Cree, Inc. *   44,999 
 12,214   Darling International, Inc. *   234,142 
 23,397   Deere & Co.   3,232,530 
 3,513   Devon Energy Corp.   24,275 
 1,452   Diamondback Energy, Inc.   38,042 
 853   Domtar Corp.   18,459 
 5,338   EOG Resources, Inc.   191,741 
 2,624   Essential Utilities Inc   106,797 
 38,814   Exxon Mobil Corp.   1,473,768 
 894   First Solar, Inc. * †   32,238 
 9,634   FMC Corp.   787,001 
 24,487   Freeport-McMoRan Copper and Gold, Inc.   165,287 
 2,258   Fresh Del Monte Produce Inc   62,343 
 4,326   Graphic Packaging Holding Co.   52,777 
 8,052   Halliburton Co.   55,156 
 995   Helmerich & Payne, Inc.   15,572 
 2,376   Hess Corp.   79,121 
 1,367   HollyFrontier Corp.   33,505 
 4,980   Ingredion, Inc.   375,990 
 5,844   International Paper Co.   181,924 
 418   Itron, Inc. *   23,337 
 17,869   Kinder Morgan, Inc.   248,736 
 808   Lindsay Corp.   73,997 
 1,669   Louisiana-Pacific Corp.   28,673 
 7,300   Marathon Oil Corp.   24,017 
 5,957   Marathon Petroleum Corp.   140,704 
 3,539   National Oilwell Varco, Inc.   34,788 
 11,566   Newmont Mining Corp.   523,708 
 4,387   Noble Energy, Inc.   26,497 
 5,079   Nucor Corp.   182,946 
 8,194   Occidental Petroleum Corp.   94,887 
 3,791   ONEOK, Inc.   82,682 
 601   Ormat Technologies, Inc.   40,664 
 1,410   Packaging Corp. of America   122,430 
 4,031   Phillips 66   216,263 
 3,911   Pilgrim’s Pride Corp. *   70,867 
 1,519   Pioneer Natural Resources Co.   106,558 
 1,129   Reliance Steel & Aluminum Co.   98,889 
 1,108   Royal Gold, Inc.   97,183 
 12,700   Schlumberger Ltd.   171,323 
 18   Seaboard Corp.   50,630 
 305   SJW Group   17,620 
 9,620   Southern Co.   520,827 
 3,280   Steel Dynamics, Inc.   73,931 
 1,008   SunPower Corp. * †   5,111 
 2,135   Targa Resources Corp.   14,753 
 2,384   The Andersons, Inc.   44,700 
 25,714   The Mosaic Co.   278,225 
 8,832   Tractor Supply Co.   746,746 
 22,022   Tyson Foods, Inc.   1,274,413 
 3,754   Valero Energy Corp.   170,281 
 3,844   Westrock Co.   108,631 
 11,106   Weyerhaeuser Co.   188,247 
 11,119   Williams Cos, Inc.   157,334 
         17,986,927 
Total Common Stocks
(Cost: $59,458,109)		   41,514,912 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 1.6%
(Cost: $678,489)		     
Money Market Fund: 1.6%     
 678,489   State Street Navigator Securities Lending Government Money Market Portfolio   678,489 
Total Investments: 101.6%
(Cost: $60,136,598)		   42,193,401 
Liabilities in excess of other assets: (1.6)%   (664,639)
NET ASSETS: 100.0%  $41,528,762 
 
Definitions:
ADR American Depositary Receipt
CAD Canadian Dollar
GBP British Pound
GDR Global Depositary Receipt
NOK Norwegian Krone
NVDR Non-Voting Depositary Receipt
USD United States Dollar
 
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $2,348,318.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $15,702,607 which represents 37.8% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $447,444, or 1.1% of net assets.
   
Summary of Investments by Sector Excluding
Collateral for Securities Loaned		  % of
Investments		  Value  
Consumer Discretionary   1.9%  $806,703 
Consumer Staples   16.1    6,690,179 
Energy   29.2    12,113,905 
Industrials   13.3    5,515,683 
Information Technology   0.3    105,685 
Materials   34.1    14,171,046 
Real Estate   0.5    188,247 
Utilities   4.6    1,923,464 
    100.0%  $41,514,912 

 

VANECK VECTORS OIL REFINERS ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.1%     
Australia: 3.7%     
 28,433   Caltex Australia Ltd. #  $382,021 
Austria: 4.2%     
 16,032   OMV AG #   436,498 
Finland: 6.1%     
 19,233   Neste Oil Oyj #   636,175 
Greece: 1.3%     
 11,319   Motor Oil Hellas Corinth Refineries SA #   137,447 
Hungary: 4.4%     
 79,236   MOL Hungarian Oil & Gas Plc #   462,620 
India: 8.5%     
 28,939   Reliance Industries Ltd. 144A (GDR)   886,329 
Japan: 12.6%     
 10,900   Cosmo Energy Holdings Co. Ltd. #   151,517 
 24,368   Idemitsu Kosan Co. Ltd. #   553,952 
 178,500   JXTG Holdings, Inc. #   605,796 
         1,311,265 
Poland: 7.1%     
 14,692   Grupa Lotos SA #   182,614 
 41,992   Polski Koncern Naftowy Orlen SA #   559,637 
         742,251 
Portugal: 5.3%     
 48,073   Galp Energia, SGPS, SA #   546,955 
South Korea: 10.0%     
 1,479   Hyundai Heavy Industries Holdings Co. Ltd. #   238,190 
 6,203   SK Energy Co. Ltd. #   438,898 
 7,882   S-Oil Corp. #   366,165 
         1,043,253 
Taiwan: 4.9%     
 190,000   Formosa Petrochemical Corp. #   507,272 
Thailand: 1.8%     
 200,700   Thai Oil PCL (NVDR) #   185,578 
Turkey: 2.3%     
 20,848   Tupras-Turkiye Petrol Rafinerileri AS * #   238,089 
United States: 27.9%     
 5,516   CVR Energy, Inc.   91,179 
 8,473   Delek US Holdings, Inc. †   133,535 
 20,214   HollyFrontier Corp.   495,445 
 23,468   Marathon Petroleum Corp.   554,314 
 12,245   PBF Energy, Inc.   86,695 
 16,424   Phillips 66   881,148 
 14,564   Valero Energy Corp.   660,623 
         2,902,939 
Total Common Stocks: 100.1%
(Cost: $19,583,181)		   10,418,692 
Liabilities in excess of other assets: (0.1)%   (7,808)
NET ASSETS: 100.0%  $10,410,884 
 
Definitions:
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
 
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $104,111.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $6,629,424 which represents 63.7% of net assets.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $886,329, or 8.5% of net assets.
   
Summary of Investments by Sector  % of Investments  Value  
Energy   97.7%       $10,180,502 
Industrials   2.3    238,190 
    100.0%  $10,418,692 

 

VANECK VECTORS OIL SERVICES ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 99.9%     
Luxembourg: 5.8%     
 1,248,421   Tenaris SA (ADR)  $15,043,473 
Netherlands: 4.5%     
 1,145,769   Core Laboratories NV (USD)   11,847,252 
Switzerland: 0.5%     
 5,172,711   Noble Corp. Plc (USD) *   1,344,905 
United Kingdom: 5.4%     
 1,895,295   TechnipFMC Plc (USD)   12,774,288 
 2,917,770   Valaris Plc (USD) †   1,313,288 
         14,087,576 
United States: 83.7%     
 1,684,696   Apergy Corp. *   9,687,002 
 1,518,735   Baker Hughes Co.   15,946,718 
 1,053,685   Cactus, Inc.   12,222,746 
 1,396,545   Diamond Offshore Drilling, Inc. * †   2,555,677 
 303,396   DMC Global, Inc.   6,981,142 
 460,866   Dril-Quip, Inc. *   14,056,413 
 3,365,627   Halliburton Co.   23,054,545 
 3,738,888   Helix Energy Solutions Group, Inc. *   6,131,776 
 684,479   Helmerich & Payne, Inc.   10,712,096 
 10,239,265   Nabors Industries Ltd.   3,994,337 
 1,452,128   National Oilwell Varco, Inc.   14,274,418 
 3,553,494   NexTier Oilfield Solutions, Inc. *   4,157,588 
 2,591,970   Oceaneering International, Inc. *   7,620,392 
 1,148,572   Oil States International, Inc. *   2,331,601 
 4,709,583   Patterson-UTI Energy, Inc.   11,067,520 
 2,636,095   ProPetro Holding Corp. *   6,590,238 
 3,080,980   RPC, Inc. †   6,346,819 
 3,502,501   Schlumberger Ltd.   47,248,739 
 10,071,246   Transocean Ltd. * †   11,682,645 
 1,090,770   US Silica Holdings, Inc. †   1,963,386 
         218,625,798 
Total Common Stocks
(Cost: $1,118,224,474)		   260,949,004 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 4.0%
(Cost: $10,388,746)		     
Money Market Fund: 4.0%     
 10,388,746   State Street Navigator Securities Lending Government Money Market Portfolio   10,388,746 
Total Investments: 103.9%
(Cost: $1,128,613,220)		   271,337,750 
Liabilities in excess of other assets: (3.9)%   (10,072,441)
NET ASSETS: 100.0%  $261,265,309 
 
Definitions:
ADR American Depositary Receipt
USD United States Dollar
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $15,855,653.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value  
Oil & Gas Drilling   16.4%      $42,670,468 
Oil & Gas Equipment & Services   83.6    218,278,536 
    100.0%  $260,949,004 

 

VANECK VECTORS RARE EARTH/STRATEGIC METALS ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.0%     
Australia: 22.9%     
 9,246,937   Galaxy Resources Ltd. * † #  $4,496,765 
 1,638,001   Iluka Resources Ltd. #   6,892,293 
 36,522,343   Jupiter Mines Ltd. #   4,975,220 
 3,943,566   Orocobre Ltd. * † #   4,989,159 
 44,622,873   Pilbara Minerals Ltd. * † #   4,553,390 
         25,906,827 
Canada: 2.9%     
 6,617,889   Largo Resources Ltd. * †   3,254,661 
China / Hong Kong: 38.9%     
 17,618,480   China Molybdenum Co. Ltd.  #   8,483,372 
 6,785,024   China Northern Rare Earth Group High-Tech Co. Ltd. #   8,525,896 
 6,879,970   Jinduicheng Molybdenum Co. Ltd.  #   5,813,141 
 6,816,561   Shenghe Resources Holding Co. Ltd. #   6,599,191 
 4,455,700   Xiamen Tungsten Co. Ltd.  #   7,043,943 
 1,853,501   Zhejiang Huayou Cobalt Co. Ltd. #   7,590,461 
         44,056,004 
France: 5.4%     
 194,815   Eramet SA † #   6,066,670 
Japan: 8.7%     
 501,092   OSAKA Titanium Technologies Co. † #   4,310,320 
 933,147   Toho Titanium Co. Ltd. † #   5,541,769 
         9,852,089 
Malaysia: 4.7%     
 6,112,719   Lynas Corp. Ltd. (AUD) * † #   5,334,452 
Netherlands: 4.1%     
 321,433   AMG Advanced Metallurgical † #   4,619,553 
South Africa: 4.4%     
 301,617   Assore Ltd. †   5,025,993 
United Kingdom: 4.4%     
 994,689   Tronox Holdings Plc (USD)   4,953,551 
United States: 3.6%     
 777,644   Livent Corp. * †   4,082,631 
Total Common Stocks
(Cost: $184,654,862)		   113,152,431 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 5.2%
(Cost: $5,852,552)		     
Money Market Fund: 5.2%     
 5,852,552   State Street Navigator Securities Lending Government Money Market Portfolio   5,852,552 
Total Investments: 105.2%
(Cost: $190,507,414)		   119,004,983 
Liabilities in excess of other assets: (5.2)%   (5,898,167)
NET ASSETS: 100.0%  $113,106,816 
   
Definitions:
AUD Australian Dollar
USD United States Dollar
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $27,139,739.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $95,835,595 which represents 84.7% of net assets.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of Investments    Value  
Diversified Metals & Mining   29.3%      $33,171,497 
Materials   70.7    79,980,934 
    100.0%  $113,152,431 

 

VANECK VECTORS RUSSIA ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		       Value  
COMMON STOCKS: 96.3%
Banks: 8.1%
 5,530,097   Sberbank of Russia PJSC (ADR) #  $52,092,535 
 15,612,003   VTB Bank PJSC Reg S (GDR) #   12,556,828 
         64,649,363 
Diversified Financials: 2.1%
 13,482,031   Moscow Exchange MICEX-RTS PJSC #   16,640,099 
Energy: 36.1%
 14,152,423   Gazprom PJSC (ADR) # †   64,177,530 
 993,511   Lukoil PJSC (ADR) #   58,549,292 
 404,925   Novatek PJSC Reg S (GDR) †   45,915,682 
 10,360,455   Rosneft Oil Co. PJSC Reg S (GDR) #   41,702,448 
 8,857,625   Surgutneftegas PJSC (ADR) # †   36,699,098 
 946,317   Tatneft PJSC (ADR)   39,484,558 
         286,528,608 
Food & Staples Retailing: 7.6%
 3,426,119   Magnit OJSC Reg S (GDR) #   30,224,071 
 1,117,699   X5 Retail Group NV Reg S (GDR) #   29,864,898 
         60,088,969 
Materials: 26.0%
 25,136,442   Alrosa PJSC #   20,339,670 
 5,246,826   Evraz Plc (GBP) #   14,985,831 
 1,945,107   MMC Norilsk Nickel PJSC (ADR)   48,180,942 
 962,577   Novolipetsk Steel PJSC Reg S (GDR) #   14,963,244 
 1,209,072   PhosAgro PJSC Reg S (GDR)   12,350,401 
 2,123,904   Polymetal International Plc (GBP) #   36,288,527 
 565,985   Polyus PJSC Reg S (GDR)   38,409,453 
 1,934,102   Severstal PJSC Reg S (GDR) #   21,190,368 
         206,708,436 
Media & Entertainment: 6.7%
 1,046,883   Mail.ru Group Ltd. Reg S (GDR) *   16,826,894 
 1,069,250   Yandex NV (USD) *   36,407,962 
         53,234,856 
Telecommunication Services: 6.9%
 4,413,220   Mobile TeleSystems PJSC (ADR) †   33,540,472 
 1,766,260   Rostelecom PJSC (ADR) #   9,692,269 
 7,729,799   VEON Ltd. (ADR) †   11,671,996 
         54,904,737 
Utilities: 2.8%
 356,319,410   Inter Rao Ues PJSC #   22,032,553 
 7,410,870   Irkutsk Electronetwork Co. JSC (USD) * # ∞   46,392 
         22,078,945 
Total Common Stocks
(Cost: $1,130,412,526)		   764,834,013 
PREFERRED STOCK: 3.7%
(Cost: $42,673,411)
Energy: 3.7%
 15,594   AK Transneft OAO, 7.29% #   29,136,956 
Total Investments Before Collateral for Securities Loaned: 100.0%
 (Cost: $1,173,085,937)		   793,970,969 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.0%
(Cost: $310,477)		     
Money Market Fund: 0.0%     
 310,477   State Street Navigator Securities Lending Government Money Market Portfolio   310,477 
Total Investments: 100.0%
(Cost: $1,173,396,414)		   794,281,446 
Liabilities in excess of other assets: (0.0)%   (249,495)
NET ASSETS: 100.0%  $794,031,951 
 
Definitions:
ADR American Depositary Receipt
GBP British Pound
GDR Global Depositary Receipt
USD United States Dollar
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $3,716,810.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $511,182,609 which represents 64.4% of net assets.
∞ Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value 
Communication Services   13.6%      $108,139,593 
Consumer Staples   7.6    60,088,969 
Energy   39.8    315,665,564 
Financials   10.2    81,289,462 
Materials   26.0    206,708,436 
Utilities   2.8    22,078,945 
    100.0%  $793,970,969 

 

VANECK VECTORS RUSSIA SMALL-CAP ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		     Value
COMMON STOCKS: 98.2%
Banks: 9.0%
 30,503,200   Credit Bank of Moscow PJSC #  $2,138,317 
Capital Goods: 0.9%
 72,855   United Wagon Co. PJSC * #   210,022 
Commercial & Professional Services: 4.4%
 64,854   HeadHunter Group Plc (ADR) †   1,035,718 
Diversified Financials: 7.4%
 161,946   Safmar Financial Investment  #   975,918 
 145,073   Vostok New Ventures Ltd. (SDR) *   771,602 
         1,747,520 
Energy: 2.7%
 1,218,237   TMK PJSC #   639,017 
Food & Staples Retailing: 3.2%
 402,745   Lenta Ltd. Reg S (GDR) * #   767,257 
Materials: 14.9%
 471,601   Highland Gold Mining Ltd. (GBP) #   1,136,133 
 785,363   Mechel PJSC * #   595,267 
 5,100,886   Petropavlovsk Plc (GBP) * † #   1,320,868 
 386,994   Raspadskaya OJSC  #   475,932 
         3,528,200 
Media & Entertainment: 2.1%
 2,084,201   ITE Group Plc (GBP)   509,108 
Real Estate: 9.5%
 741,982   Etalon Group Plc Reg S (GDR)   957,125 
 176,684   LSR Group PJSC (GDR) #   1,308,880 
         2,266,005 
Retailing: 6.6%
 987,590   Detsky Mir PJSC Reg S 144A #   1,139,780 
 84,443   M.Video PJSC  #   416,547 
         1,556,327 
Software & Services: 3.9%
 86,737   QIWI Plc (ADR) †   928,953 
Telecommunication Services: 8.7%
 629,062   Sistema PJSFC Reg S (GDR)   2,061,239 
Transportation: 11.3%
 1,838,689   Aeroflot PJSC #   1,578,776 
 208,596   Globaltrans Investment Plc Reg S (GDR)   1,094,860 
         2,673,636 
Utilities: 13.6%
 31,247,800   Mosenergo PJSC #   726,850 
 117,205,600   OGK-2 PJSC #   856,667 
 2,878,400,000   TGC-1 PJSC #   356,679 
 39,488,000   Unipro PJSC #   1,289,058 
         3,229,254 
Total Common Stocks
(Cost: $36,168,047)		   23,290,573 
PREFERRED STOCK: 1.7%
(Cost: $525,338)
Utilities: 1.7%
 261,475   Lenenergo PJSC, 9.28%   401,413 
Total Investments Before Collateral for Securities Loaned: 99.9%
(Cost: $36,693,385)		   23,691,986 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 10.5%
(Cost: $2,490,285)
Money Market Fund: 10.5%
 2,490,285   State Street Navigator Securities Lending Government Money Market Portfolio   2,490,285 
Total Investments: 110.4%
(Cost: $39,183,670)		   26,182,271 
Liabilities in excess of other assets: (10.4)%   (2,474,463)
NET ASSETS: 100.0%  $23,707,808 
 
Definitions:
ADR American Depositary Receipt
GBP British Pound
GDR Global Depositary Receipt
SDR Swedish Depositary Receipt
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $2,705,142.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $15,931,968 which represents 67.2% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $1,139,780, or 4.8% of net assets.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value  
Communication Services   10.9%     $2,570,347 
Consumer Discretionary   6.6    1,556,327 
Consumer Staples   3.2    767,257 
Energy   2.7    639,017 
Financials   16.4    3,885,837 
Industrials   16.5    3,919,376 
Information Technology   3.9    928,953 
Materials   14.9    3,528,200 
Real Estate   9.6    2,266,005 
Utilities   15.3    3,630,667 
    100.0%  $23,691,986 

 

VANECK VECTORS STEEL ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		     Value
COMMON STOCKS: 100.2%
Brazil: 19.9%
 1,149,618   Cia Siderurgica Nacional SA (ADR)) †  $1,506,000 
 781,232   Gerdau SA (ADR) †   1,492,153 
 533,108   Vale SA (ADR)   4,419,465 
         7,417,618 
India: 5.0%
 518,370   Vedanta Ltd. (ADR)   1,845,397 
Luxembourg: 19.2%
 203,458   ArcelorMittal SA (USD) †   1,898,263 
 164,593   Tenaris SA (ADR)   1,983,346 
 273,696   Ternium SA (ADR)   3,256,982 
         7,138,591 
South Korea: 4.2%
 47,675   POSCO (ADR) †   1,556,589 
United Kingdom: 12.7%
 103,734   Rio Tinto Plc (ADR)   4,726,121 
United States: 39.2%
 90,815   Allegheny Technologies, Inc. *   771,928 
 34,191   Carpenter Technology Corp.   666,725 
 194,533   Cleveland-Cliffs, Inc. †   768,405 
 123,066   Commercial Metals Co.   1,943,212 
 23,907   Gibraltar Industries, Inc. *   1,026,088 
 53,531   Nucor Corp.   1,928,187 
 7,920   Olympic Steel, Inc.   81,972 
 18,611   Reliance Steel & Aluminum Co.   1,630,138 
 27,214   Ryerson Holding Corp. *   144,778 
 19,205   Schnitzer Steel Industries, Inc.   250,433 
 91,228   Steel Dynamics, Inc.   2,056,279 
 60,693   SunCoke Energy, Inc.   233,668 
 32,268   TimkenSteel Corp. *   104,226 
 122,479   United States Steel Corp.   772,842 
 38,386   Warrior Met Coal, Inc.   407,659 
 68,943   Worthington Industries, Inc.   1,809,754 
         14,596,294 
Total Common Stocks
(Cost: $68,457,843)		   37,280,610 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 6.0%
(Cost: $2,212,508)
Money Market Fund: 6.0%
 2,212,508   State Street Navigator Securities Lending Government Money Market Portfolio   2,212,508 
Total Investments: 106.2%
(Cost: $70,670,351)		   39,493,118 
Liabilities in excess of other assets: (6.2)%   (2,289,518)
NET ASSETS: 100.0%  $37,203,600 
 
Definitions:
ADR American Depository Receipt
USD United States Dollar
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $5,400,466.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of Investments  Value 
Energy   5.3%         $1,983,346 
Industrials   2.8    1,026,088 
Materials   91.9    34,271,176 
    100.0%  $37,280,610 

 

VANECK VECTORS UNCONVENTIONAL OIL & GAS ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 99.8%
Canada: 13.4%
 36,959   ARC Resources Ltd. †  $105,163 
 97,699   Cenovus Energy, Inc. (USD) †   197,352 
 62,483   Crescent Point Energy Corp. (USD) †   48,043 
 27,549   Enerplus Corp. (USD)   40,773 
 37,462   Husky Energy, Inc. †   93,171 
 17,953   PrairieSky Royalty Ltd. †   93,716 
 26,613   Seven Generations Energy Ltd. * †   28,981 
 25,588   Tourmaline Oil Corp.   155,324 
 38,676   Whitecap Resources, Inc.   31,792 
         794,315 
United States: 86.4%
 24,575   Antero Resources Corp. *   17,520 
 21,563   Apache Corp.   90,133 
 22,296   Cabot Oil & Gas Corp.   383,268 
 7,867   Cimarex Energy Co.   132,402 
 8,811   CNX Resources Corp. *   46,875 
 7,093   Concho Resources, Inc.   303,935 
 16,146   ConocoPhillips   497,297 
 10,617   Continental Resources, Inc. †   81,114 
 31,872   Devon Energy Corp.   220,235 
 10,619   Diamondback Energy, Inc.   278,218 
 13,528   EOG Resources, Inc.   485,926 
 22,533   EQT Corp. †   159,308 
 10,746   Hess Corp.   357,842 
 58,336   Marathon Oil Corp.   191,925 
 9,993   Matador Resources Co. *   24,783 
 8,183   Murphy Oil Corp. †   50,162 
 6,022   National Fuel Gas Co.   224,560 
 33,143   Noble Energy, Inc.   200,184 
 36,198   Occidental Petroleum Corp.   419,173 
 22,918   Ovintiv, Inc. †   61,879 
 32,366   Parsley Energy, Inc.   185,457 
 7,463   PDC Energy, Inc. *   46,345 
 6,549   Pioneer Natural Resources Co.   459,412 
 17,405   Range Resources Corp. †   39,683 
 6,878   SM Energy Co.   8,391 
 58,066   WPX Energy, Inc. *   177,101 
         5,143,128 
Total Common Stocks
(Cost: $26,840,338)		   5,937,443 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 4.0%
(Cost: $238,484)
Money Market Fund: 4.0%
 238,484   State Street Navigator Securities Lending Government Money Market Portfolio   238,484 
Total Investments: 103.8%
(Cost: $27,078,822)		   6,175,927 
Liabilities in excess of other assets: (3.8)%   (225,680)
NET ASSETS: 100.0%  $5,950,247 
 
Definitions:
USD United States Dollar
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $821,392.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of Investments  Value 
Gas Utilities   3.8%         $224,560 
Integrated Oil & Gas   11.9    709,696 
Oil & Gas Exploration & Production   84.3    5,003,187 
    100.0%  $5,937,443 

 

VANECK VECTORS URANIUM+NUCLEAR ENERGY ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		     Value
COMMON STOCKS: 100.1%
Canada: 5.4%
 98,962   Cameco Corp. (USD)  $756,070 
 91,032   NexGen Energy Ltd. * †   69,073 
 25,570   Uranium Participation Corp. *   70,062 
         895,205 
China / Hong Kong: 2.9%
 2,108,000   CGN Power Co. Ltd. Reg S 144A #   480,355 
Czech Republic: 4.2%
 42,930   CEZ AS #   697,202 
Finland: 4.5%
 50,949   Fortum Oyj #   737,361 
France: 3.2%
 67,405   Electricite de France SA #   524,374 
Japan: 18.5%
 48,800   Hokuriku Electric Power Co. #   340,066 
 94,600   Kansai Electric Power Co., Inc. #   1,048,789 
 108,700   Kyushu Electric Power Co., Inc. #   868,329 
 227,000   Tokyo Electric Power Co., Inc. * #   786,528 
         3,043,712 
Korea: 0.6%
 4,070   KEPCO Plant Service & Engineering Co. Ltd. #   96,695 
South Korea: 4.4%
 95,531   Korea Electric Power Corp. (ADR) * †   721,259 
Spain: 4.6%
 36,051   Endesa SA #   758,945 
United States: 51.8%     
 8,852   BWX Technologies, Inc.   431,181 
 18,392   Dominion Energy, Inc.   1,327,718 
 15,967   Duke Energy Corp.   1,291,411 
 6,937   El Paso Electric Co.   471,439 
 29,635   Energy Fuels, Inc. * †   34,969 
 9,757   Entergy Corp.   916,865 
 31,916   Exelon Corp.   1,174,828 
 67,839   PG&E Corp. * †   609,873 
 9,121   Pinnacle West Capital Corp.   691,281 
 13,136   PNM Resources, Inc.   499,168 
 24,201   Public Service Enterprise Group, Inc.   1,086,867 
         8,535,600 
Total Common Stocks
(Cost: $19,887,435)		   16,490,708 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 2.0%
(Cost: $325,786)		     
Money Market Fund: 2.0%     
 325,786   State Street Navigator Securities Lending Government Money Market Portfolio   325,786 
Total Investments: 102.1%
(Cost: $20,213,221)		   16,816,494 
Liabilities in excess of other assets: (2.1)%   (353,434)
NET ASSETS: 100.0%  $16,463,060 
 
Definitions:
ADR American Depositary Receipt
USD United States Dollar
   
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $588,852.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $6,338,644 which represents 38.5% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $480,355, or 2.9% of net assets.
   
Summary of Investments by Sector Excluding
Collateral for Securities Loaned		  % of
Investments		  Value 
Energy   5.2%       $860,112 
Financials   0.4    70,062 
Industrials   3.2    527,876 
Utilities   91.2    15,032,658 
    100.0%  $16,490,708 

 

VANECK VECTORS VIETNAM ETF

SCHEDULE OF INVESTMENTS

March 31, 2020 (unaudited)

 

Number
 of Shares		      Value 
COMMON STOCKS: 100.5%
Banks: 6.2%
 6,312,392   Bank for Foreign Trade of Vietnam JSC #  $16,362,168 
Capital Goods: 6.1%
 3,633,491   FLC Faros Construction JSC * #   496,555 
 7,821,770   Hoang Huy Investment Financial Services JSC #   5,424,651 
 31,127,700   JAKS Resources Bhd * #   5,468,640 
 8,548,055   Vietnam Electrical Equipment * #   4,946,686 
         16,336,532 
Consumer Durables & Apparel: 5.7%
 1,316,160   Eclat Textile Co. Ltd. #   10,419,207 
 659,319   Hansae Co. Ltd. † #   4,850,386 
         15,269,593 
Diversified Financials: 2.2%
 12,274,891   Saigon Securities, Inc. #   5,928,380 
Energy: 0.8%
 13,710,724   Soco International Plc † #   2,045,735 
Food, Beverage & Tobacco: 15.2%
 6,630,740   Masan Group Corp. * #   13,702,592 
 13,261,711   Thanh Thanh Cong Tay Ninh JSC #   7,117,170 
 5,154,496   Vietnam Dairy Products JSC #   19,685,985 
         40,505,747 
Health Care Equipment & Services: 6.8%
 737,300   MANI, Inc. #   18,010,962 
Insurance: 2.0%
 3,424,086   Bao Viet Holdings #   5,264,371 
Materials: 3.8%
 14,200,419   Hoa Phat Group JSC * #   10,007,236 
Real Estate: 26.7%
 8,460,196   No Va Land Investment Group Corp. * #   18,566,956 
 15,847,972   Vincom Retail JSC #   12,618,765 
 6,171,672   Vingroup JSC * #   21,664,554 
 7,825,262   Vinhomes JSC Reg S 144A #   18,018,677 
         70,868,952 
Technology Hardware & Equipment: 17.7%
 941,428   BH Co. Ltd. * † #   11,919,233 
 532,301   Mcnex Co. Ltd. #   11,263,105 
 633,631   Seojin System Co. Ltd. #   13,214,358 
 3,436,557   Synopex, Inc. * #   5,855,905 
 612,532   UTI, Inc. † #   4,872,472 
         47,125,073 
Transportation: 4.6%
 2,968,900   Vietjet Aviation JSC #   12,164,214 
Utilities: 2.7%
 24,111,490   PetroVietnam Power Corp. * #   7,087,890 
Total Common Stocks
(Cost: $331,513,056)		   266,976,853 
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.0%
(Cost: $26,748)		     
Money Market Fund: 0.0%     
 26,748   State Street Navigator Securities Lending Government Money Market Portfolio   26,748 
Total Investments: 100.5%
(Cost: $331,539,804)		   267,003,601 
Liabilities in excess of other assets: (0.5)%   (1,295,523)
NET ASSETS: 100.0%  $265,708,078 
 
Footnotes:
* Non-income producing
† Security fully or partially on loan. Total market value of securities on loan is $749,779.
# Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $266,976,853 which represents 100.5% of net assets.
Reg S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
144A Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended, or otherwise restricted. These securities may be resold in transactions exempt from registration, unless otherwise noted, and the value amounted to $18,018,677, or 6.8% of net assets.
   
Summary of Investments by Sector
Excluding Collateral for Securities Loaned		  % of
Investments		  Value 
Consumer Discretionary   5.7%       $15,269,593 
Consumer Staples   15.2    40,505,747 
Energy   0.8    2,045,735 
Financials   10.3    27,554,919 
Health Care   6.7    18,010,962 
Industrials   10.7    28,500,746 
Information Technology   17.7    47,125,073 
Materials   3.7    10,007,236 
Real Estate   26.5    70,868,952 
Utilities   2.7    7,087,890 
    100.0%  $266,976,853