VanEck Long/Flat Trend ETF

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

As part of its strategy, the fund employs a passive or indexing investment approach.

Next, the research team invests significantly in securities that comprise the Index.

The Index follows a proprietary model that determines when, and by how much, it allocates to U.S. equities and/or U.S. Treasury bills to seek to help avoid losses in declining markets or capitalize from rising markets.

The model produces daily trade signals to determine the Index's equity allocation percentage (100%, 50%, or 0%).

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

In addition, the fund seeks to replicate the investment performance of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

The fund is non-diversified, which means that it may invest a greater percentage of its net assets in a limited number of issuers.

Also, the fund may concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry or group of industries.