Fund Description: VanEck Vectors AMT-Free Short Municipal Index ETF, formerly, Market Vectors - Short Municipal Index ETF formerly, Market Vectors - Lehman Brothers AMT-Free Short Municipal Index 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 AMT-Free Short Municipal Index ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays AMT-Free Short Continuous Municipal Index, formerly Barclays Capital AMT-Free Short Continuous Municipal Index. INDEX DESCRIPTION: The Barclays AMT-Free Short Continuous Municipal Index is comprised of publicly traded municipal bonds that cover the U.S. dollar denominated short-term tax-exempt bond market. FUND STRATEGY: 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 and return characteristics of the Index. FUND MANAGEMENT: Van Eck Associates Corporation serves as the investment adviser to the Fund.