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VanEck to close and liquidate three ETFs

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VanEck is to close and liquidate three VanEck Vectors ETFs following approval by the Board of Trustees of VanEck Vectors ETF Trust.

The funds are: the VanEck Vectors Generic Drugs ETF; the VanEck Vectors Poland ETF; and the VanEck Vectors Pre-Refunded Municipal Index ETF.
 
VanEck continuously monitors and evaluates its ETF offerings across a number of factors, including performance, liquidity, assets under management, and investor interest, among others. The decision was made to liquidate these funds based on an analysis of these factors.
 
Shareholders of the Funds may sell their shares of each Fund on its relevant listing exchange until market close on 5 April, 2019 (transaction fees from their broker-dealer may be incurred). The Funds’ shares will no longer trade on the relevant listing exchanges after market close on 5 April, 2019, and the shares will subsequently be de-listed. Shareholders who continue to hold shares of any of the Funds on the Funds’ liquidation date, which is expected to be on or about April 12 2019, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares. Proceeds from the liquidation are currently scheduled to be sent to shareholders on or about 12 April 2019. For tax purposes, shareholders will generally recognise a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares. The Funds will stop accepting creation orders from Authorised Participants on 5 April 2019.
 
In addition, shareholders who hold shares of any of the Funds may receive a final distribution of net income and capital gains earned by such Fund and not previously distributed prior to liquidation.
 
The final tax status of distributions made by the Funds, including the liquidating distribution, will be provided to shareholders with the year-end tax reporting for the Funds (including any portion which may be treated as a return of capital for tax purposes, reducing a shareholder’s basis in such shares).

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