Fund Description: VanEck Vectors Environmental Services ETF, formerly The Market Vectors - Environmental Services ETF, is an investment portfolio of the VanEck Vectors ETF Trust, an open-end investment company. The Fund's investment objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the AMEX Environmental Services Index (Index Ticker Symbol AXENV). INDEX DESCRIPTION: The Amex Environmental Services Index is a modified equal dollar weighted index comprised of publicly traded companies that engage in business activities that may benefit from the global increase in demand for consumer waste disposal, removal and storage of industrial by-products, and the management of associated resources. The Environmental Services Index includes common stocks and ADRs of selected companies that are involved in management, removal and storage of consumer waste and industrial by-products and related environmental services, including waste collection, transfer and disposal services, recycling services, soil remediation, wastewater management and environmental consulting services, and that are listed for trading on the NYSE, Amex or quoted on the NASDAQ Global Market. Only companies with a market capitalization greater than $100 million and a three-month trading price greater than $3.00 that have a daily average traded volume of at least $1 million over the past three months are eligible for inclusion in the Environmental Services Index. The Environmental Services Index is weighted based on the market capitalization of each of the component securities. FUND STRATEGY: The Fund will normally invest at least 80% of its total assets in common stocks and American Depositary Receipts ("ADRs") of companies involved in the environmental services industry. This 80% investment policy is non-fundamental and requires 60 days' prior written notice to shareholders before it can be changed. The Fund, utilizing a "passive" or indexing investment approach, attempts to approximate the investment performance of the Environmental Services Index by investing in a portfolio of securities that generally replicate the Environmental Services Index. The Adviser anticipates that, generally, the Fund will hold all of the securities which comprise the Environmental Services Index in proportion to their weightings in the Environmental Services Index. However, under various circumstances, it may not be possible or practicable to purchase all of those securities in these weightings. In these circumstances, the Fund may purchase a sample of securities in the Environmental Services Index. There also may be instances in which the Adviser may choose to overweight another security in the Environmental Services Index, purchase securities not in the Environmental Services Index which the Adviser believes are appropriate to substitute for certain securities in the Environmental Services Index or utilize various combinations of other available investment techniques in seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of the Environmental Services Index. The Fund may sell securities that are represented in the Environmental Services Index in anticipation of their removal from the Environmental Services Index or purchase securities not represented in the Environmental Services Index in anticipation of their addition to the Environmental Services Index. The Adviser expects that, over time, the correlation between the Fund's performance and that of the Environmental Services Index before fees and expenses will be 95% or better. A figure of 100% would indicate perfect correlation. The Fund will normally invest at least 95% of its total assets in stocks and ADRs that comprise the Environmental Services Index. FUND MANAGEMENT: Van Eck Associates Corporation is the investment adviser to the Fund.