Fund Description: VanEck Vectors Oil Refiners ETF, formerly Market Vectors Oil Refiners 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 Oil Refiners ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Global Oil Refiners Index. INDEX DESCRIPTION: The Market Vectors Global Oil Refiners Index is comprised of equity securities and depositary receipts of companies that generate at least 50% of their revenues from (or, in certain circumstances, have at least 50% of their assets related to) crude oil refining. Products of these companies may include gasoline, diesel, jet fuel, fuel oil, naphtha, and other petrochemicals. Companies which operate in the marketing and distribution of these products may be included in the Index if crude oil refining is performed in company-owned refineries. Such companies may include medium-capitalization companies and foreign and emerging market issuers. 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 by investing in a portfolio of securities that generally replicates 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. As of the date of the prospectus, the Index is concentrated in the oil refining industry and the energy sector. FUND MANAGEMENT: Van Eck Associates Corp. serves as the investment advisor for the Fund.