Fund Description: VanEck Vectors Gold Miners ETF, formerly The Market Vectors -- Gold Miners ETF, is an investment portfolio of the VanEck Vectors ETF Trust, an open-end investment company. The VanEck Vectors Gold Miners ETF investment objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the AMEX Gold Miners Index (Index Ticker Symbol GDM). INDEX DESCRIPTION: The Amex Gold Miners Index is a modified market-capitalization-weighted index composed of common stocks or ADRs of publicly traded companies involved primarily in the mining for gold and silver. The Index was launched by the AMEX in 2004 and the data dates back to September 1993. The Index is calculated using a modified market capitalization weighting methodology. Only companies with market capitalization greater than $100 million that have traded an average daily volume of at least 50,000 shares over the past six months are eligible for inclusion in GDM. The weight of any single component stock may not account for more than 20% of the total value of the Index. The Index currently comprises 44 constituents. Index composition and share weightings are reviewed quarterly. FUND STRATEGY: The Adviser anticipates that, generally, the Fund will hold all of the securities which comprise its Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in these weightings. In these circumstances, the Fund may purchase a sample of stocks in the Index. There also may be instances in which the Adviser may choose to overweight another stock in the Index, purchase securities not in the Index which the Adviser believes are appropriate to substitute for certain securities in the Index or utilize various combinations of other available investment techniques in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index. The Adviser expects that, over time, the correlation between the Fund's performance and that of the Index before fees and expenses will be 95% or better. A figure of 100% would indicate perfect correlation. The Fund's policy is to remain as fully invested as practicable in a chosen pool of equity securities, which may include foreign securities. The Fund will normally invest at least 95% of its total assets in stocks that comprise the Index. FUND MANAGEMENT: Van Eck Associates Corporation is the investment adviser to the Fund.