HAP Fees and Costs — VanEck Natural Resources ETF
Data updated: 2026-08-26
The net expense ratio is 0.41%: a 0.40% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $34K in broker commissions, 0.0212% of average net assets, and portfolio turnover was 21%.
HAP Fees and Expenses
Annual operating expenses and sales charges of HAP. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | 0.01% |
| Gross expense ratio | 0.41% |
| Fee waiver | — |
| Net expense ratio | 0.41% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HAP Costs Over Time
On $10,000 invested in HAP, assuming 5% a year before costs, total costs come to $273 over 5 years, cutting the return by 0.45% 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 0.41%) | $43 | $135 | $236 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $45 | $149 | $273 |
| Value after costs | $10,455 | $11,427 | $12,490 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
HAP 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): 0.0212%
- Total broker commissions: $34K
- Bought from dealers (principal trades, not a cost): $34.4M
- Portfolio turnover (prospectus): 21%
- Securities on loan, average value: $28.2M
- Net income from securities lending: $94K (0.058% of average net assets)
HAP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $11K | 30.77% |
| BofA Securities, Inc. | $10K | 29.63% |
| UBS Securities LLC | $7K | 21.54% |
| J.P. Morgan Securities LLC | $6K | 16.82% |
| Goldman Sachs & Co. LLC | $162 | 0.47% |
| Morgan Stanley & Co. LLC | $133 | 0.39% |
| Jefferies LLC | $130 | 0.38% |
HAP Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $29.6M | 86.01% |
| Mizuho Securities USA LLC | $4.8M | 13.99% |
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.