VANECK

JUNIOR

GOLD

MINERS

ETF

SCHEDULE

OF

INVESTMENTS

March

31,

2024

(unaudited)

1

Number

of

Shares

Value

COMMON

STOCKS

:

99.9%

Australia

:

17.3%

Alkane

Resources

Ltd. *

†

20,334,527‌

$

8,300,743‌

Aurelia

Metals

Ltd. *

†

60,951,453‌

6,155,659‌

Australian

Strategic

Materials

Ltd. *

1‌

1‌

Bellevue

Gold

Ltd. *

†

36,959,527‌

45,504,429‌

Capricorn

Metals

Ltd. *

†

13,972,428‌

46,923,049‌

De

Grey

Mining

Ltd. *

†

65,159,879‌

53,827,142‌

Emerald

Resources

NL *

†

19,943,255‌

38,167,304‌

Evolution

Mining

Ltd.

56,551,929‌

132,321,823‌

Firefinch

Ltd. *

†∞

54,133,739‌

1,589,258‌

Genesis

Minerals

Ltd. *

†

27,749,187‌

33,603,103‌

Gold

Road

Resources

Ltd.

43,141,857‌

44,539,209‌

Kingsgate

Consolidated

Ltd. *

†

11,621,686‌

9,274,333‌

OceanaGold

Corp.

(CAD)

23,678,926‌

53,543,332‌

Perseus

Mining

Ltd.

52,265,927‌

73,375,837‌

Ramelius

Resources

Ltd.

46,037,504‌

55,944,325‌

Red

5

Ltd. *

†

105,214,715‌

26,123,253‌

Regis

Resources

Ltd. *

†

28,679,738‌

37,739,178‌

Resolute

Mining

Ltd. *

67,702,423‌

19,010,849‌

Silver

Lake

Resources

Ltd. *

35,048,021‌

28,370,888‌

Silver

Mines

Ltd. *

†

69,614,496‌

7,715,445‌

Tietto

Minerals

Ltd. *

39,683,653‌

15,934,928‌

West

African

Resources

Ltd. *

†

32,157,158‌

25,209,203‌

Westgold

Resources

Ltd. †

17,308,802‌

29,644,119‌

792,817,410‌

Burkina

Faso

:

1.4%

IAMGOLD

Corp.

(USD) *

18,617,607‌

61,996,631‌

Underline

Canada

:

51.4%

Alamos

Gold,

Inc.

(USD) ‡

20,489,334‌

302,217,676‌

Archer

Exploration

Corp. *

1,075,827‌

31,800‌

Aris

Mining

Corp. *

†

5,560,747‌

19,970,612‌

Arizona

Metals

Corp. *

†

5,232,185‌

7,810,097‌

Artemis

Gold,

Inc. *

†

6,792,504‌

40,757,534‌

Aya

Gold

&

Silver,

Inc. *

†

5,628,851‌

48,499,836‌

B2Gold

Corp.

(USD)

44,521,601‌

116,201,379‌

Calibre

Mining

Corp. *

28,994,960‌

35,781,698‌

Dakota

Gold

Corp.

(USD) *

3,300,578‌

7,822,370‌

Discovery

Silver

Corp. *

†

13,527,568‌

7,097,412‌

Dundee

Precious

Metals,

Inc.

5,510,900‌

41,945,147‌

Endeavour

Silver

Corp.

(USD) *

†

9,864,287‌

23,772,932‌

Equinox

Gold

Corp.

(USD) *

†

12,585,974‌

75,767,563‌

Filo

Corp. *

†

3,515,565‌

61,439,580‌

First

Majestic

Silver

Corp.

(USD) †

12,265,634‌

72,121,928‌

Fortuna

Silver

Mines,

Inc.

(USD) *

13,096,070‌

48,848,341‌

Gold

Royalty

Corp.

(USD) †

5,435,629‌

10,218,982‌

GoldMining,

Inc.

(USD) *

†

8,720,667‌

7,630,584‌

K92

Mining,

Inc. *

†

8,563,436‌

39,866,726‌

Karora

Resources,

Inc. *

†

7,192,730‌

27,000,974‌

Kinross

Gold

Corp.

(USD)

54,894,531‌

336,503,475‌

Lundin

Gold,

Inc. †

3,953,857‌

55,630,103‌

MAG

Silver

Corp.

(USD) *

†

3,085,626‌

32,645,923‌

Number

of

Shares

Value

Canada

(continued)

McEwen

Mining,

Inc.

(USD) *

†

1,870,861‌

$

18,446,689‌

Metalla

Royalty

&

Streaming

Ltd.

(USD) †

4,111,588‌

12,787,039‌

New

Found

Gold

Corp. *

†

4,453,402‌

16,421,560‌

New

Gold,

Inc.

(USD) *

26,475,731‌

45,008,743‌

Novagold

Resources,

Inc.

(USD) *

†

8,728,409‌

26,185,227‌

Orla

Mining

Ltd.

(USD) *

†

7,493,120‌

28,398,925‌

Osisko

Gold

Royalties

Ltd.

(USD) †

6,690,476‌

109,857,616‌

Osisko

Mining,

Inc. *

14,647,062‌

30,089,660‌

Pan

American

Silver

Corp.

(USD) †

‡

18,592,090‌

280,368,717‌

Prime

Mining

Corp. *

†

5,132,243‌

8,305,644‌

Sandstorm

Gold

Ltd.

(USD) †

10,454,543‌

54,886,351‌

Seabridge

Gold,

Inc.

(USD) *

†

3,358,446‌

50,779,704‌

Silvercorp

Metals,

Inc.

(USD) †

7,982,319‌

26,022,360‌

SilverCrest

Metals,

Inc.

(USD) *

†

5,857,967‌

39,014,060‌

Skeena

Resources

Ltd. *

†

2,785,651‌

12,824,390‌

SSR

Mining,

Inc.

(USD)

7,705,940‌

34,368,492‌

Sulliden

Mining

Capital,

Inc. *

1,689,990‌

31,221‌

Torex

Gold

Resources,

Inc. *

2,853,400‌

42,044,556‌

Triple

Flag

Precious

Metals

Corp.

(USD) †

3,249,234‌

46,951,431‌

Victoria

Gold

Corp. *

1,673,644‌

8,187,344‌

Wesdome

Gold

Mines

Ltd. *

†

5,444,059‌

40,591,580‌

2,351,153,981‌

China

:

1.6%

Zhaojin

Mining

Industry

Co.

Ltd.

(HKD) †

54,495,200‌

74,258,239‌

Underline

Egypt

:

1.3%

Centamin

Plc

(GBP)

40,136,285‌

57,211,606‌

Underline

Indonesia

:

0.7%

Bumi

Resources

Minerals

Tbk

PT *

3,499,243,800‌

33,130,390‌

Underline

Jersey,

Channel

Islands

:

0.1%

Caledonia

Mining

Corp.

Plc

(USD)

620,617‌

6,870,230‌

Underline

Kyrgyzstan

:

1.0%

Centerra

Gold,

Inc.

(CAD)

7,484,170‌

44,244,123‌

Underline

Mexico

:

3.9%

Fresnillo

Plc

(GBP)

8,743,570‌

51,830,147‌

Industrias

Penoles

SAB

de

CV *

†

8,865,463‌

126,029,522‌

177,859,669‌

Peru

:

5.1%

Cia

de

Minas

Buenaventura

SAA

(ADR) ‡

13,053,796‌

207,294,281‌

VANECK

JUNIOR

GOLD

MINERS

ETF

SCHEDULE

OF

INVESTMENTS

(unaudited)

(continued)

2

FootnoteRuleAboveBlank

Footnotes:

Number

of

Shares

Value

Peru

(continued)

Hochschild

Mining

Plc

(GBP) *

15,138,590‌

$

24,287,522‌

231,581,803‌

South

Africa

:

6.0%

DRDGOLD

Ltd.

(ADR) †

984,830‌

8,075,606‌

Harmony

Gold

Mining

Co.

Ltd.

(ADR) ‡

32,562,386‌

266,034,694‌

274,110,300‌

Turkey

:

2.8%

Eldorado

Gold

Corp.

(USD) *

6,845,337‌

96,313,891‌

Koza

Altin

Isletmeleri

AS

45,598,845‌

31,520,653‌

127,834,544‌

United

Kingdom

:

2.9%

Endeavour

Mining

Plc

5,643,920‌

114,627,204‌

Greatland

Gold

Plc *

†

222,270,186‌

17,408,533‌

132,035,737‌

United

States

:

4.4%

Argonaut

Gold,

Inc.

(CAD) *

†

36,831,528‌

10,614,665‌

Aura

Minerals,

Inc.

(BRL)

(BDR)

1,532,185‌

11,414,366‌

Coeur

Mining,

Inc. *

†

12,649,602‌

47,689,000‌

Number

of

Shares

Value

United

States

(continued)

Gatos

Silver,

Inc. *

†

1,608,888‌

$

13,498,570‌

GoGold

Resources,

Inc.

(CAD) *

†

14,518,811‌

13,196,481‌

Hecla

Mining

Co. †

18,691,579‌

89,906,495‌

i-80

Gold

Corp. *

†

9,622,667‌

12,894,374‌

199,213,951‌

Total

Common

Stocks

(Cost:

$4,588,459,072)

4,564,318,614‌

SHORT-TERM

INVESTMENT

HELD

AS

COLLATERAL

FOR

SECURITIES

ON

LOAN:

1.9%

Money

Market

Fund:

1.9%

(Cost:

$87,426,815)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

87,426,815‌

87,426,815‌

Total

Investments:

101.8%

(Cost:

$4,675,885,887)

4,651,745,429‌

Liabilities

in

excess

of

other

assets:

(1.8)%

(81,645,630‌)

NET

ASSETS:

100.0%

$

4,570,099,799‌

Definitions:

ADR

American

Depositary

Receipt

BDR

Brazilian

Depositary

Receipt

BRL

Brazilian

Real

CAD

Canadian

Dollar

GBP

British

Pound

HKD

Hong

Kong

Dollar

USD

United

States

Dollar

†

Security

fully

or

partially

on

loan.

Total

market

value

of

securities

on

loan

is

$258,015,090.

*

Non-income

producing

∞

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.

‡

Affiliated

issuer

–

as

defined

under

the

Investment

Company

Act

of

1940.

Transactions

in

securities

of

affiliates

for

the

period

ended

March

31,

2024

were

as

follows:

Value

12/31/2023

Purchases

Sales

Proceeds

Realized

Gain

(Loss)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

Value

3/31/2024

Dividend

Income

Alamos

Gold,

Inc.

$–(a)

$37,968,479

$(6,491,528)

$3,374,447

$22,531,733

$302,217,677

$456,765

B2Gold

Corp.

233,544,410

9,469,154

(87,171,390)

(54,112,898)

14,472,103

–(b)

2,954,986

Cia

de

Minas

Buenaventura

SAA

–(a)

64,467,068

(4,120,389)

1,899,854

(1,494,591)

207,294,280

–

Harmony

Gold

Mining

Co.

Ltd.

–(a)

103,304,726

(3,379,083)

2,031,328

43,330,689

266,034,694

–

Metalla

Royalty

&

Streaming

Ltd.

10,607,277

2,350,637

(297,384)

9,027

117,482

–(b)

–

Pan

American

Silver

Corp.

319,425,235

13,971,847

(28,838,762)

(18,323,283)

(5,866,320)

280,368,717

1,924,790

$563,576,922

$231,531,911

$(130,298,536)

$(65,121,525)

$73,091,096

$1,055,915,368

$5,336,541