VanEck Intermediate Muni ETF
VanEck ETF Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
VanEck Intermediate Muni ETF is a U.S. bond index ETF that tracks the ICE Intermediate AMT-Free Broad National Municipal Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q3
VanEck Intermediate Muni ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Intermediate AMT-Free Broad National Municipal Index (the Intermediate Index).
The fund uses a passive indexing approach to track the ICE Intermediate AMT-Free Broad National Municipal Index, which comprises U.S. dollar–denominated intermediate-term tax-exempt municipal bonds. Rather than holding all index constituents, the fund employs sampling methodology to construct a portfolio with similar risk and return characteristics. Because the fund samples the index rather than replicating it fully, its performance may diverge from the index.
| Share class | Expense ratio |
|---|---|
| ITM | 0.18% |
Portfolio turnover 11.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 98.03% |
Latest quarter
What changed since the fund's previous filing
Largest new: Salem-Keizer School District No 24J ×2, State of California, Metropolitan Pier & Exposition Authority, New York City Municipal Water Finance Authority, Central Valley Energy Authority, Black Belt Energy Gas District, Texas Municipal Gas Acquisition & Supply Corp V
Largest exited: California Community Choice Financing Authority ×2, City of Chicago IL, Fremont Union High School District, North Texas Tollway Authority, Commonwealth of Pennsylvania, Texas Water Development Board, University of Kansas Hospital Authority
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 90.3% |
| Floating rate | 8.8% |
| Zero-coupon or unclassified | 0.9% |
Share of the fund's debt value in each maturity band, shortest first.
| 5-10y | 39.9% |
| 10y+ | 60.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 52% |
| Interest rates | 48% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +5.95 yr |
| High yield | +0.01 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.37 yr | 7% |
| 5 yr | 1.82 yr | 33% |
| 10 yr | 2.96 yr | 54% |
| 30 yr | 0.26 yr | 5% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.38 yr | 6% |
| 5 yr | 2.02 yr | 34% |
| 10 yr | 3.25 yr | 55% |
| 30 yr | 0.28 yr | 5% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.02 | +0.00 | $4.4k | $7 |
| 1 yr | +0.37 | +0.38 | +0.00 | $81.5k | $112 |
| 5 yr | +1.82 | +2.02 | +0.00 | $438.1k | $772 |
| 10 yr | +2.96 | +3.25 | +0.00 | $704.8k | $520 |
| 30 yr | +0.26 | +0.28 | +0.00 | $61.3k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | New Jersey Educational Facilities Authority5.00% floating · due 2064-07-01 | 0.53% | $11.52M | — |
| — | California Community Choice Financing Authority5.00% floating · due 2055-08-01 | 0.50% | $10.79M | — |
| — | State of California4.00% · due 2036-03-01 | 0.44% | $9.59M | — |
| — | California Community Choice Financing Authority5.00% floating · due 2055-02-01 | 0.44% | $9.56M | — |
| — | Connecticut State Health & Educational Facilities Authority5.00% floating · due 2064-07-01 | 0.39% | $8.40M | — |
| — | California Community Choice Financing Authority5.00% floating · due 2056-01-01 | 0.37% | $8.11M | — |
| — | State of California5.25% · due 2032-08-01 | 0.30% | $6.51M | — |
| — | New York City Municipal Water Finance Authority5.00% · due 2034-06-15 | 0.29% | $6.20M | — |
| — | California Housing Finance Agency3.75% · due 2035-03-25 | 0.28% | $6.01M | — |
| — | Southeast Energy Authority A Cooperative District5.25% floating · due 2055-11-01 | 0.27% | $5.95M | — |
Top 10 positions are 3.81% of net assets, top 25 7.56%, across 460 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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