<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:01a0151e-fc5a-74fa-872e-be0424b2ae6f,g:5c676bc5-0b79-4add-9dee-c0369c6cf053-->
<xs:schema xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:ck0001137360="http://vaneck.com/20260818" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://vaneck.com/20260818">
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd"/>
  <xs:import namespace="http://xbrl.sec.gov/fnd-oef/2026" schemaLocation="https://xbrl.sec.gov/fnd/2026/fnd-oef-2026.xsd"/>
  <xs:import namespace="http://xbrl.sec.gov/oef-rr/2026" schemaLocation="https://xbrl.sec.gov/oef/2026/oef-rr-2026.xsd"/>
  <xs:annotation>
    <xs:appinfo>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="ck0001137360-20260818_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="ck0001137360-20260818_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="ck0001137360-20260818_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:type="simple"/>
    </xs:appinfo>
  </xs:annotation>
  <xs:element id="ck0001137360_S000106200Member" abstract="true" name="S000106200Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_C000277036Member" abstract="true" name="C000277036Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_DefinedOutcomeStrategyRiskMember" abstract="true" name="DefinedOutcomeStrategyRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_DefinedOutcomeStrategyRiskBufferedLossRiskMember" abstract="true" name="DefinedOutcomeStrategyRiskBufferedLossRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_DefinedOutcomeStrategyRiskCappedUpsideReturnRiskMember" abstract="true" name="DefinedOutcomeStrategyRiskCappedUpsideReturnRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_DefinedOutcomeStrategyRiskOutcomePeriodRiskMember" abstract="true" name="DefinedOutcomeStrategyRiskOutcomePeriodRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_DefinedOutcomeStrategyRiskUpsideParticipationRiskMember" abstract="true" name="DefinedOutcomeStrategyRiskUpsideParticipationRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_DefinedOutcomeStrategyRiskCapChangeRiskMember" abstract="true" name="DefinedOutcomeStrategyRiskCapChangeRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_FLEXOptionsRiskMember" abstract="true" name="FLEXOptionsRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_OptionContractsRiskMember" abstract="true" name="OptionContractsRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_DerivativesRiskMember" abstract="true" name="DerivativesRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_ClearingMemberDefaultRiskMember" abstract="true" name="ClearingMemberDefaultRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_CounterpartyRiskMember" abstract="true" name="CounterpartyRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_UnderlyingETFRiskMember" abstract="true" name="UnderlyingETFRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_UnderlyingETFRiskEquitySecuritiesRiskMember" abstract="true" name="UnderlyingETFRiskEquitySecuritiesRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_UnderlyingETFRiskInformationTechnologySectorRiskMember" abstract="true" name="UnderlyingETFRiskInformationTechnologySectorRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_UnderlyingETFRiskLargeCapitalizationCompaniesRiskMember" abstract="true" name="UnderlyingETFRiskLargeCapitalizationCompaniesRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_CorrelationRiskMember" abstract="true" name="CorrelationRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_ConcentrationRiskMember" abstract="true" name="ConcentrationRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_InvestmentObjectiveRiskMember" abstract="true" name="InvestmentObjectiveRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_LiquidityRiskMember" abstract="true" name="LiquidityRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_MarketRiskMember" abstract="true" name="MarketRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_TaxRiskMember" abstract="true" name="TaxRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_InvestingInETFsRiskMember" abstract="true" name="InvestingInETFsRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_ActiveManagementRiskMember" abstract="true" name="ActiveManagementRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_SubAdviserRiskMember" abstract="true" name="SubAdviserRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_AffiliatedFundInvestmentRiskMember" abstract="true" name="AffiliatedFundInvestmentRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_OperationalRiskMember" abstract="true" name="OperationalRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_AuthorizedParticipantConcentrationRiskMember" abstract="true" name="AuthorizedParticipantConcentrationRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_NewFundRiskMember" abstract="true" name="NewFundRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_CashTransactionsRiskMember" abstract="true" name="CashTransactionsRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_NoGuaranteeOfActiveTradingMarketRiskMember" abstract="true" name="NoGuaranteeOfActiveTradingMarketRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_TradingIssuesRiskMember" abstract="true" name="TradingIssuesRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_FundSharesTradingPremiumDiscountRiskAndLiquidityOfFundSharesRiskMember" abstract="true" name="FundSharesTradingPremiumDiscountRiskAndLiquidityOfFundSharesRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="ck0001137360_ValuationRiskMember" abstract="true" name="ValuationRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
</xs:schema>
