Fund Description: VanEck Vectors Fallen Angel High Yield Bond ETF, formerly Market Vector Fallen Angel High Yield Bond ETF, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the VanEck Vectors ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The VanEck Vectors Fallen Angel High Yield Bond ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the BofA Merrill Lynch US Fallen Angel High Yield Index. INDEX DESCRIPTION: The BofA Merrill Lynch US Fallen Angel High Yield Index is comprised of below investment grade corporate bonds denominated in U.S. dollars that were rated investment grade at the time of issuance. Qualifying securities must be issued in the U.S. domestic market and have a below investment grade rating, based on an average of Moody’s Investors Service, Inc., Standard & Poor’s Rating Services or Fitch International Rating Agency. Defaulted securities are excluded from the Index. The Index is comprised of bonds issued by both U.S. and non-U.S. issuers. The country of risk of qualifying issuers must be a member of the Group of Ten, a Western European nation, or a territory of the United States or a Western European nation. The Group of Ten includes Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdom and the United States. As of the date of this Prospectus, April 10, 2012, the Index includes 384 below investment grade bonds of 144 issuers, and approximately 13.6% of the Index is comprised of Rule 144A securities. FUND STRATEGY: The Fund normally invests at least 80% of its total assets in securities that comprise the Index. The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the Index. Because of the practical difficulties and expense of purchasing all of the securities in the Index, the Fund does not purchase all of the securities in the Index. Instead, a sampling methodology is utilized in seeking to achieve the Fund’s objective. As such, the Fund may purchase a subset of the bonds in the Index in an effort to hold a portfolio of bonds with generally the same risk & return characteristics of the Index. The Fund may concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry or group of industries. FUND MANAGEMENT: Van Eck Associates Corporation serves as the adviser to the Fund and subject to the supervision of the Board of Trustees, will be responsible for the day-to-day investment management of the Fund.