VanEck announced that it plans to close and liquidate 2 VanEck Vectors ETFs. On June 22, 2018, the Board of Trustees of VanEck Vectors ETF Trust approved the liquidation and dissolution of the following funds:
VanEck Vectors Spin-Off ETF (NYSE Arca:SPUN)
VanEck Vectors EM Investment Grade+BB Rated USD Sovereign Bond ETF (NYSE Arca: IGEM)
As the sponsor of VanEck Vectors ETFs, VanEck is proud to be an industry leader in offering unique, targeted exposures to numerous asset classes through ETFs that seek to meet investor needs. VanEck continuously monitors and evaluates its ETF offerings across a number of factors, including performance, liquidity, assets under management, and investor interest, among others. The decision was made to liquidate these funds based on an analysis of these factors.
Shareholders of the Funds may sell their holdings of each Fund on the NYSE Arca until market close on July 31, 2018 (transaction fees from their broker-dealer may be incurred). The Funds’ shares will no longer trade on the NYSE Arca after market close on July 31, 2018, and the shares will subsequently be de-listed. Shareholders who continue to hold shares of either of the Funds on the Funds’ liquidation date, which is expected to be on or about August 7, 2018, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares. Proceeds from the liquidation are currently scheduled to be sent to shareholders on or about August 7, 2018.