Fund Description: VanEck Vectors International High Yield Bond ETF, formerly Market Vectors International 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 International 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 Global ex-US Issuers High Yield Constrained Index. INDEX DESCRIPTION: The BofA Merrill Lynch Global ex-US Issuers High Yield Constrained Index is comprised of below investment grade debt issued by corporations located throughout the world (which may include emerging market countries) excluding the United States denominated in Euros, U.S. dollars, Canadian dollars or pound sterling issued in the major domestic or eurobond markets. Qualifying securities must have a below investment grade rating (based on an average of Moody’s Investors Service, Inc., Standard & Poor’s Rating Services and Fitch International Rating Agency. As of April 2, 2012, the Index includes 1,008 below investment grade securities of 546 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. 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.