Fund Description: VanEck Vectors AMT-Free Long Municipal Index ETF, formerly, Market Vectors - Long Municipal Index ETF, formerly Market Vectors - Lehman Brothers AMT-Free Long Municipal Index ETF, is a separate investment portfolio of the VanEck Vectors ETF Trust, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the VanEck Vectors ETF Trust, an open-ended investment management company. INVESTMENT OBJECTIVE: The VanEck Vectors AMT-Free Long Municipal Index ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays AMT-Free Long Continuous Municipal Index, formerly Barclays Capital AMT-Free Long Continuous Municipal Index. INDEX DESCRIPTION: The Barclays AMT-Free Long Continuous Municipal Index is a market value weighted index designed to replicate the price movements of long-duration bonds with a nominal maturity of 17 years or more. The Index is comprised of publicly traded municipal bonds that cover the U.S. dollar denominated long-term tax-exempt bond market. FUND STRATEGY: The Fund normally invests at least 80% of its total assets in fixed income 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, sampling methodology is used 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 and return characteristics of the Index. FUND MANAGEMENT: Van Eck Associates Corp. serves as the adviser to the Fund.