VANECK VECTORS INVESTMENT GRADE FLOATING RATE ETF

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Investment Grade Floating Rate Index (the Floating Rate Index). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index is comprised of U.S. dollar-denominated floating rate notes issued by corporate entities or similar commercial entities that are public reporting companies in the United States and rated investment grade. The fund is non-diversified.