VanEck Vectors Natural Resources UCITS ETF - A USD ACC ETF

The Fund’s investment objective is to replicate, before fees and expenses, the price and yield performance of the VanEck Natural Resources Index (the 'Index'). In order to seek to achieve its investment objective, the investment manager will normally use a replication strategy by investing directly in the underlying equity securities of the Index. It is anticipated that the underlying equity securities of the Index will be publicly traded companies engaged (derive greater than 50% of revenues from applicable sources) in the production and distribution of commodities and commodity-related products and services in the following sectors: 1) agriculture; 2) alternatives (water & alternative energy); 3) base and industrial metals; 4) energy; 5) forest products; and 6) precious metals that comprise the Index. The Index is comprised of small- and medium-capitalisation companies and non-US domiciled companies. In so doing, the Fund may invest up to 20% of its net asset value in securities issued by the same body. This limit may be raised to 35% for a single issuer when exceptional market conditions apply which may include the dominance of a particular issuer in the relevant market.