CMCI Fees and Costs — VanEck CMCI Commodity Strategy ETF
Data updated: 2026-08-26
The net expense ratio is 0.67%: a 0.65% management fee plus 4.30% other expenses, less a 4.28% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 0%.
CMCI Fees and Expenses
Annual operating expenses and sales charges of CMCI. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 4.30% |
| Gross expense ratio | 4.95% |
| Fee waiver | −4.28% |
| Net expense ratio | 0.67% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
CMCI Costs Over Time
On $10,000 invested in CMCI, assuming 5% a year before costs, total costs come to $422 over 5 years, cutting the return by 0.70% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.67%) | $70 | $220 | $383 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $70 | $231 | $422 |
| Value after costs | $10,430 | $11,345 | $12,341 |
| Impact on return, per year | 0.70% | 0.70% | 0.70% |
CMCI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $122.1M
- Portfolio turnover (prospectus): 0%
- Securities on loan, average value: $121K
- Net income from securities lending: $118 (0.005% of average net assets)
CMCI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $111.8M | 91.53% |
| State Street Bank and Trust Company | $4.7M | 3.85% |
| Federal Reserve Bank of Boston | $2.0M | 1.65% |
| BofA Securities, Inc. | $1.8M | 1.47% |
| Morgan Stanley & Co. LLC | $1.3M | 1.05% |
| Scotia Capital (USA) Inc. | $563K | 0.46% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.