VanEck Short Muni ETF
SMB
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 666 Third Avenue, 9th Floor New York NY United States of America 10017
- IPO Date
- Feb 28, 2008
- CIK
- 0001137360
- Website
- vaneck.com
- Similar Companies
- Business
- VanEck Short Muni ETF (SMB) is an exchange-traded fund that seeks to replicate, before fees and expenses, the price and yield performance of the ICE Short AMT-Free Broad National Municipal Index (MBNS), which tracks the U.S. dollar-denominated short-term tax-exempt municipal bond market. The fund primarily invests in investment-grade, short-maturity municipal bonds issued by U.S. states, territories, and political subdivisions; these securities are generally exempt from federal income taxes and the Alternative Minimum Tax (AMT), with less than six years to maturity, fixed coupons, and ratings based on the middle of Moody's, S&P, and Fitch assessments. Its portfolio emphasizes high credit quality (approximately 90% investment grade, including AAA at 17.73%, AA at 46.53%, A at 21.42%, and BBB at 4.33%), diversified across sectors such as state general obligations (19.09%), local general obligations (14.71%), utilities, power, education, water and sewer, hospitals, and transportation; top holdings include bonds from California Community Choice Financing Authority, State of California, Commonwealth of Massachusetts, and State of New Jersey, with an average maturity profile concentrated in under seven years. The ETF targets investors seeking tax-efficient income with reduced interest rate risk compared to longer-duration municipal funds, offering a 30-day SEC yield of 2.66% and monthly distributions, such as $0.0372 in November 2025 and $0.0405 in early November 2025. Launched on February 22, 2008, and domiciled in the United States as part of VanEck ETF Trust, managed by Van Eck Associates Corporation, the fund is headquartered in New York, NY, with total net assets of approximately $292.87 million and an expense ratio of 0.07% as of December 2025. It operates exclusively in the U.S. fixed income market, focusing on domestic municipal issuers, with no international geographic exposure. Prior to September 1, 2020, the fund operated as the VanEck AMT-Free Short Municipal Index ETF, reflecting a name change and potential minor index transition adjustments; its benchmark evolved from the Bloomberg AMT-Free Short Continuous Municipal Index through transitional ICE indices to the current ICE Short AMT-Free Broad National Municipal Index (MBNS) effective December 1, 2022. Recent performance highlights include year-to-date returns of 3.92% (NAV) as of December 12, 2025, with resilience in rising rate environments, such as a 3.56% return in 2023 outperforming longer-duration peers; ongoing monthly dividend declarations continued through 2025, including ex-dividend dates in September ($0.0389), June ($0.0384), and March ($0.0325). No major acquisitions, funding rounds, partnerships, or new product launches were reported in the last 1-2 years.