VanEck Russia Small-Cap ETF

The fund seeks to replicate the price and yield performance of the benchmark index, before fees and expenses, by investing in companies outside 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 to approximate the investment performance of the Index, by investing in a portfolio of securities that generally replicates the Index.

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

The Index includes securities of Russian small-capitalization companies.

A company is generally considered to be a Russian company if it is incorporated in Russia or is incorporated outside of Russia but has at least 50% of its revenues/related assets in Russia.

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.

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.

Also, the fund is classified as a non-diversified fund, and, therefore, may invest a greater percentage of its assets in a particular issuer.