Fund Description: VanEck Vectors NDR CMG Long/Flat Allocation 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 NDR CMG Long/Flat Allocation ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ned Davis Research CMG US Large Cap Long/Flat Index. INDEX DESCRIPTION: The Ned Davis Research CMG US Large Cap Long/Flat Index is a rules-based index that follows a proprietary model developed by Ned Davis Research, Inc. in conjunction with CMG Capital Management Group, Inc. (CMG). To help limit potential loss associated with adverse market conditions, the model produces trade signals that dictate the Index’s equity allocation ranging from 100% fully invested (i.e., long) to 100% in cash (i.e., flat). When the Index is long, or 100% fully invested, the Index will be allocated to the S&P 500 Index. When the Index is flat, or 100% cash, it will be allocated to the Solactive 13-week U.S. T-bill Index. When the Index is not completely long or flat, either 80% or 40% of it will be allocated to the S&P 500 Index, with the remaining allocated portion (20% or 60%, respectively) to the Solactive 13-week U.S. T-bill Index. The Fund will at least initially seek to track the Index when the Index has any equity allocation by holding shares of one or more exchange-traded funds (ETFs) whose investment objective is to track the performance of the S&P 500 Index, rather than investing directly in the shares of the 500 companies comprising the S&P 500 Index, until the Fund reaches, in the opinion of the Adviser, an adequate asset size then it will seek to track the Index by investing directly in the shares of the 500 companies comprising the S&P 500 Index. FUND STRATEGY: The Fund normally invests at least 80% of its total assets in securities that track and/or 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. he Fund is classified as a non-diversified fund. FUND MANAGEMENT: Van Eck Associates Corp. serves as the investment advisor for the Fund.