SMI Fees and Costs — VanEck HIP Sustainable Muni ETF
Data updated: 2025-07-10
The net expense ratio is 0.24%. There are no sales loads or redemption fees. Portfolio turnover was 11%.
SMI Fees and Expenses
Annual operating expenses and sales charges of SMI. Prospectus, as of August 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.24% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.24% |
| Fee waiver | — |
| Net expense ratio | 0.24% |
| 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 |
SMI Costs Over Time
On $10,000 invested in SMI, assuming 5% a year before costs, total costs come to $152 over 5 years, cutting the return by 0.25% 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 0.24%) | $25 | $79 | $139 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $25 | $83 | $152 |
| Value after costs | $10,475 | $11,493 | $12,610 |
| Impact on return, per year | 0.25% | 0.25% | 0.25% |
SMI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $8.3M
- Portfolio turnover (prospectus): 11%
- Securities lending: none during the year
SMI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNY Capital Markets, LLC | $2.1M | 27.57% |
| Morgan Stanley & Co. LLC | $923K | 12.32% |
| MarketAxess Corporation | $912K | 12.18% |
| Wedbush Securities Inc. | $763K | 10.18% |
| BofA Securities, Inc. | $667K | 8.91% |
| RBC Capital Markets, LLC | $529K | 7.06% |
| J.P. Morgan Securities LLC | $510K | 6.81% |
| Jefferies LLC | $479K | 6.40% |
| Ice Securities Execution & Clearing, LLC | $325K | 4.33% |
| Deutsche Bank Securities Inc. | $317K | 4.24% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.