Fund Description: VanEck Vectors Russia Small-Cap ETF, formerly Market Vectors Russia Small-Cap 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 Russia Small-Cap ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Russia Small-Cap Index. INDEX DESCRIPTION: The Market Vectors Russia Small-Cap Index is a rules-based, modified market capitalization-weighted, float adjusted index comprised of publicly traded companies that are domiciled and primarily listed in Russia or that generate the majority of their revenues in Russia. The index is comprised of securities and depositary receipts of Russian small-capitalization companies. 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 by investing in a portfolio of securities that generally replicates the Index. The Fund may also utilize depositary receipts to seek performance that corresponds to the Index. The Fund will 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. As of April 14, 2011, the following industries represent a significant portion of the Index: energy, basic materials and utilities. 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.