VANECK
MORTGAGE
REIT
INCOME
ETF
SCHEDULE
OF
INVESTMENTS
March
31,
2026
(unaudited)
FootnoteRuleAboveBlank
Footnotes:
Number
of
Shares
Value
COMMON
STOCKS:
96.9%
Financial
Services
:
96.9%
Adamas
Trust,
Inc. †
920,378
$
6,773,982
AGNC
Investment
Corp. †
5,082,609
50,978,568
Annaly
Capital
Management,
Inc.
3,063,346
64,789,768
Apollo
Commercial
Real
Estate
Finance,
Inc. †
1,186,421
12,528,606
Arbor
Realty
Trust,
Inc. †
1,914,776
14,762,923
Ares
Commercial
Real
Estate
Corp. †
613,144
2,943,091
ARMOUR
Residential
REIT,
Inc. †
1,000,896
16,694,945
Blackstone
Mortgage
Trust,
Inc. †
942,270
18,044,471
BrightSpire
Capital,
Inc. †
1,209,117
6,771,055
Chicago
Atlantic
Real
Estate
Finance,
Inc. †
236,157
2,673,297
Chimera
Investment
Corp.
816,220
10,243,561
Dynex
Capital,
Inc. †
1,466,365
18,710,817
Ellington
Financial,
Inc. †
1,300,127
15,406,505
Franklin
BSP
Realty
Trust,
Inc. †
761,095
6,461,697
Invesco
Mortgage
Capital,
Inc. †
911,431
7,364,363
KKR
Real
Estate
Finance
Trust,
Inc. †
537,994
3,292,523
Number
of
Shares
Value
Financial
Services
(continued)
Ladder
Capital
Corp.
1,163,248
$
11,364,933
MFA
Financial,
Inc.
1,064,872
10,201,474
Orchid
Island
Capital,
Inc. †
2,308,214
16,226,744
PennyMac
Mortgage
Investment
Trust
739,526
8,622,873
Redwood
Trust,
Inc. †
965,691
5,417,527
Rithm
Capital
Corp. †
2,696,363
25,561,521
Starwood
Property
Trust,
Inc. †
1,619,734
27,891,820
TPG
RE
Finance
Trust,
Inc.
746,635
5,831,219
Two
Harbors
Investment
Corp. †
1,000,950
11,430,849
Underline
Total
Common
Stocks
(Cost:
$410,761,081)
380,989,132
SHORT-TERM
INVESTMENT
HELD
AS
COLLATERAL
FOR
SECURITIES
ON
LOAN:
2.4%
Money
Market
Fund:
2.4%
(Cost:
$9,324,633)
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
3.66%(a)
9,324,633
9,324,633
Total
Investments:
99.3%
(Cost:
$420,085,714)
390,313,765
Other
assets
less
liabilities:
0.7%
2,902,494
NET
ASSETS:
100.0%
$
393,216,259
†
Security
fully
or
partially
on
loan.
Total
market
value
of
securities
on
loan
is
$100,281,546.
(a)
The
rate
shown
is
the
7-day
yield
as
of
03/31/26.
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
Common
Stocks
*
$
380,989,132
$
—
$
—
$
380,989,132
Money
Market
Fund
9,324,633
—
—
9,324,633
Total
Investments
$
390,313,765
$
—
$
—
$
390,313,765
*
See
Schedule
of
Investments
for
industry
sectors.