VANECK
CHINA
BOND
ETF
SCHEDULE
OF
INVESTMENTS
March
31,
2026
(unaudited)
FootnoteRuleAboveBlank
Footnotes:
*
See
Schedule
of
Investments
for
geographic
regions.
Par
(000's)
Value
CORPORATE
BONDS:
70.7%
Energy
:
11.9%
China
Petrochemical
Corp.
2.00%,
08/09/29
CNY
10,000
$
1,458,568
China
Petroleum
&
Chemical
Corp.
3.20%,
07/27/26
CNY
5,240
762,798
2,221,366
Financials
:
44.9%
Agricultural
Development
Bank
of
China
1.66%,
01/09/35
CNY
7,360
1,046,531
2.96%,
04/17/30
CNY
2,420
368,173
3.48%,
02/04/28
CNY
3,400
509,980
Bank
of
Communications
Co.
Ltd.
Reg
S
2.70%,
09/26/26
CNY
5,800
844,484
China
Development
Bank
2.69%,
09/11/33
CNY
4,060
623,285
3.45%,
09/20/29
CNY
4,800
737,960
3.48%,
01/08/29
CNY
4,460
679,235
3.65%,
05/21/29
CNY
1,950
300,010
3.66%,
03/01/31
CNY
1,170
185,239
3.70%,
10/20/30
CNY
4,150
654,019
4.04%,
07/06/28
CNY
4,360
666,206
China
Everbright
Bank
Co.
Ltd.
Reg
S
2.72%,
09/25/26
CNY
5,800
844,496
Export-Import
Bank
of
China
3.10%,
02/13/33
CNY
580
90,994
3.38%,
07/16/31
CNY
3,400
534,224
Par
(000’s)
Value
Financials
(continued)
3.74%,
11/16/30
CNY
1,740
$
275,034
8,359,870
Utilities
:
13.9%
China
Huaneng
Group
Co.
Ltd.
3.95%,
04/21/26
CNY
4,500
652,482
China
Three
Gorges
Corp.
4.15%,
05/11/26
CNY
3,400
493,758
Guangdong
Hengjian
Investment
Holding
Co.
Ltd.
3.28%,
01/14/27
CNY
4,300
630,888
State
Grid
Corp.
of
China
2.88%,
08/30/27
CNY
5,500
810,272
2,587,400
Total
Corporate
Bonds
(Cost:
$12,896,548)
13,168,636
GOVERNMENT
OBLIGATIONS:
27.1%
China
Government
Bond
1.42%,
08/15/28
CNY
9,330
1,354,881
1.44%,
09/15/27
CNY
1,760
255,488
1.62%,
08/15/27
CNY
7,170
1,043,563
2.27%,
05/25/34
CNY
3,490
526,404
2.35%,
02/25/34
CNY
1,760
266,881
2.40%,
07/15/28
CNY
3,480
516,809
2.67%,
11/25/33
CNY
6,950
1,078,586
Underline
Total
Government
Obligations
(Cost:
$4,783,925)
5,042,612
Total
Investments:
97.8%
(Cost:
$17,680,473)
18,211,248
Other
assets
less
liabilities:
2.2%
415,663
NET
ASSETS:
100.0%
$
18,626,911
Definitions:
CNY
Chinese
Yuan
Reg
S
Security
was
purchased
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933,
which
exempts
securities
offered
and
sold
outside
of
the
United
States
from
registering
with
the
Securities
and
Exchange
Commission.
Such
a
security
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
The
summary
of
inputs
used
to
value
the
Fund's
investments
as
of
March
31,
2026
is
as
follows:
Level
1
Quoted
Prices
Level
2
Significant
Observable
Inputs
Level
3
Significant
Unobservable
Inputs
Value
Corporate
Bonds
*
$
—
$
13,168,636
$
—
$
13,168,636
Government
Obligations
*
—
5,042,612
—
5,042,612
Total
Investments
$
—
$
18,211,248
$
—
$
18,211,248