# EDGAR Filing Document

**Accession Number:** 0001137360
**File Stem:** 0001410368-25-028351
**Filing Date:** 2025-11
**Character Count:** 49467
**Document Hash:** d0c4906824fcd424cae65ad20b812b76
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-028351.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-028351

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VanEck ETF Trust
- **CENTRAL INDEX KEY:** 0001137360

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10325
- **FILM NUMBER:** 251507708

**BUSINESS ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-293-2000

**MAIL ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VanEck Vectors ETF Trust
- **DATE OF NAME CHANGE:** 20160427

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS ETF TRUST
- **DATE OF NAME CHANGE:** 20070312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS TRUST
- **DATE OF NAME CHANGE:** 20050516

## Series and Classes Contracts Data

### VanEck Brazil Small-Cap ETF (Series ID: S000025533)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000076451 | VanEck Brazil Small-Cap ETF | BRF             |

## Nport-Ex

VANECK

BRAZIL

SMALL-CAP

ETF

SCHEDULE

OF

INVESTMENTS

September

30,

2025

(unaudited)

#### Number

#### of

#### Shares

#### Value

#### COMMON

#### STOCKS:

#### 87.3%

#### Automobiles

#### &

#### Components

#### :

#### 1.9%
Fras-Le

SA \*

21,300

$

90,287

Iochpe

Maxion

SA

75,452

168,986

Mahle

Metal

Leve

SA

29,300

150,347

409,620

#### Capital

#### Goods

#### :

#### 1.3%
Armac

Locacao

Logistica

E

Servicos

SA \*

54,600

38,060

Kepler

Weber

SA

75,550

103,908

Mills

Locacao

Servicos

e

Logistica

SA \*

42,350

94,611

Tupy

SA \*

23,600

57,867

294,446

#### Commercial

#### &

#### Professional

#### Services

#### :

#### 2.1%
Orizon

Valorizacao

de

Residuos

SA \*

33,650

352,480

Valid

Solucoes

SA \*

25,300

100,539

453,019

#### Consumer

#### Discretionary

#### Distribution

#### &

#### Retail

#### :

#### 3.8%
C&A

Modas

SA

86,350

265,917

Grupo

Casas

Bahia

SA \*

57,300

42,203

Grupo

SBF

SA

50,000

122,129

Magazine

Luiza

SA

172,600

311,327

Pet

Center

Comercio

e

Participacoes

SA

132,450

94,318

835,894

#### Consumer

#### Durables

#### &

#### Apparel

#### :

#### 18.2%
Azzas

2154

SA \*

59,075

334,654

Construtora

Tenda

SA

46,500

227,946

Cury

Construtora

e

Incorporadora

SA

83,550

542,688

Cyrela

Brazil

Realty

SA

Empreendimentos

e

Participacoes

165,950

957,239

Direcional

Engenharia

SA

185,400

563,280

Ez

Tec

Empreendimentos

e

Participacoes

SA

91,652

283,106

Grendene

SA

105,400

103,177

Guararapes

Confeccoes

SA

49,550

88,165

MRV

Engenharia

e

Participacoes

SA \*

164,300

229,985

Plano

&

Plano

Desenvolvimento

Imobiliario

SA

34,500

110,652

Vivara

Participacoes

SA

74,500

399,778

Vulcabras

SA

41,700

154,193

3,994,863

#### Consumer

#### Services

#### :

#### 6.6%
Afya

Ltd.

8,705

135,798

Arcos

Dorados

Holdings,

Inc.

58,752

396,576

Cogna

Educacao

SA

909,600

570,823

Cruzeiro

do

Sul

Educacional

SA

36,150

33,418

YDUQS

Participacoes

SA

115,200

279,653

Zamp

SA \*

40,415

26,730

1,442,998

#### Number

#### of

#### Shares

#### Value

#### Consumer

#### Staples

#### Distribution

#### &

#### Retail

#### :

#### 0.6%
Dimed

SA

Distribuidora

da

Medicamentos \*

56,250

$

103,258

Empreendimentos

Pague

Menos

SA \*

47,222

31,941

135,199

#### Energy

#### :

#### 5.5%
Brava

Energia \*

203,259

686,664

Karoon

Energy

Ltd. †

299,092

325,048

Petroreconcavo

SA

78,800

186,701

1,198,413

#### Financial

#### Services

#### :

#### 0.7%
Vinci

Compass

Investments

Ltd.

15,055

161,841

Underline

#### Food,

#### Beverage

#### &

#### Tobacco

#### :

#### 7.8%
Adecoagro

SA †

5,839

45,778

BrasilAgro

-

Co.

Brasileira

de

Propriedades

Agricolas

29,950

113,953

Camil

Alimentos

SA

61,350

58,212

M

Dias

Branco

SA

73,200

395,278

Minerva

SA \*

267,100

338,752

Sao

Martinho

SA \*

83,500

272,358

SLC

Agricola

SA

101,000

311,412

Tres

Tentos

Agroindustrial

SA

72,750

191,093

1,726,836

#### Health

#### Care

#### Equipment

#### &

#### Services

#### :

#### 4.3%
Fleury

SA

159,737

484,411

Hospital

Mater

Dei

SA

37,700

32,513

Odontoprev

SA

146,590

364,667

Oncoclinicas

do

Brasil

Servicos

Medicos

SA \*

115,850

72,267

953,858

#### Insurance

#### :

#### 1.3%
IRB-Brasil

Resseguros

SA \*

32,023

294,824

Underline

#### Materials

#### :

#### 6.2%
Braskem

SA

(ADR) \*

†

48,360

117,031

Cia

Brasileira

de

Aluminio \*

117,850

78,829

Dexco

SA

206,000

224,491

ERO

Copper

Corp. \*

†

41,139

832,242

Irani

Papel

e

Embalagem

SA

68,600

107,497

1,360,090

#### Mining

#### :

#### 0.0%
ESG

Minerals

Ltd.

26,308

696

Underline

#### Pharmaceuticals,

#### Biotechnology

#### &

#### Life

#### Sciences

#### :

#### 0.2%
Blau

Farmaceutica

SA \*

18,850

49,230

Underline

#### Real

#### Estate

#### Management

#### &

#### Development

#### :

#### 4.7%
Iguatemi

SA

126,450

581,614

JHSF

Participacoes

SA

190,950

232,129

LOG

Commercial

Properties

e

Participacoes

SA

15,900

70,205

Moura

Dubeux

Engenharia

S/A

28,300

159,147

1,043,095

VANECK

BRAZIL

SMALL-CAP

ETF

SCHEDULE

OF

INVESTMENTS

(unaudited)

(continued)

#### Number

#### of

#### Shares

#### Value

#### Software

#### &

#### Services

#### :

#### 1.6%
LWSA

SA

144A

165,300

$

142,247

Sonda

SA

216,855

82,396

VTEX \*

†

30,759

134,725

359,368

#### Technology

#### Hardware

#### &

#### Equipment

#### :

#### 1.7%
Intelbras

SA

Industria

de

Telecomunicacao

Eletronica

Brasileira

53,600

118,636

Ituran

Location

and

Control

Ltd.

6,970

248,968

367,604

#### Telecommunication

#### Services

#### :

#### 0.0%
OI

SA \*

Underline

#### Transportation

#### :

#### 5.5%
EcoRodovias

Infraestrutura

e

Logistica

SA

191,090

281,128

Hidrovias

do

Brasil

SA \*

198,615

125,388

Movida

Participacoes

SA

83,350

140,320

SIMPAR

SA

178,400

167,263

Tegma

Gestao

Logistica

SA

8,900

58,060

Vamos

Locacao

de

Caminhoes

Maquinas

e

Equipamentos

SA \*

239,850

155,476

Wilson

Sons

SA

82,250

282,035

1,209,670

#### Utilities

#### :

#### 13.3%
Alupar

Investimento

SA

131,593

790,955

Auren

Energia

SA

190,100

366,824

Cia

de

Saneamento

de

Minas

Gerais

Copasa

MG

111,038

719,564

Cia

De

Sanena

Do

Parana \*

88,900

618,863

Light

SA \*

87,000

94,809

Serena

Energia

SA \*

145,452

337,514

2,928,529

#### Total

#### Common

#### Stocks
(Cost:

$16,908,958)

19,220,093

#### PREFERRED

#### SECURITIES:

#### 12.7%

#### Banks

#### :

#### 3.4%
Banco

ABC

Brasil

SA\*

53,298

232,830

Banco

do

Estado

do

Rio

Grande

do

Sul

SA

118,250

265,506

Banco

Pan

SA\*

167,800

245,288

743,624

#### Capital

#### Goods

#### :

#### 3.3%
Marcopolo

SA

373,240

624,842

Randon

SA

Implementos

e

Participacoes

98,200

113,473

738,315

#### Consumer

#### Discretionary

#### Distribution

#### &

#### Retail

#### :

#### 0.5%
Raizen

SA\*

587,250

112,545

Underline

#### Consumer

#### Durables

#### &

#### Apparel

#### :

#### 0.8%
Alpargatas

SA

94,250

166,816

Underline

#### Materials

#### :

#### 4.7%
Bradespar

SA

101,300

322,234

#### Number

#### of

#### Shares

#### Value

#### Materials
(continued)

Cia

de

Ferro

Ligas

da

Bahia

FERBASA\*

81,100

$

98,284

Unipar

Carbocloro

SA

29,800

396,363

Usinas

Siderurgicas

de

Minas

Gerais

SA

Usiminas\*

271,900

216,100

1,032,981

#### Total

#### Preferred

#### Securities
(Cost:

$2,521,781)

2,794,281

#### Total

#### Investments

#### Before

#### Collateral

#### for

#### Securities

#### Loaned:

#### 100.0%
(Cost:

$19,430,739)

22,014,374

#### SHORT-TERM

#### INVESTMENT

#### HELD

#### AS

#### COLLATERAL

#### FOR

#### SECURITIES

#### ON

#### LOAN:

#### 1.7%

#### Money

#### Market

#### Fund:

#### 1.7%
(Cost:

$369,526)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

4.18%(a)

369,526

369,526

#### Total

#### Investments:

#### 101.7%
(Cost:

$19,800,265)

22,383,900

#### Liabilities

#### in

#### excess

#### of

#### other

#### assets:

#### (1.7)%
(365,117)

#### NET

#### ASSETS:

#### 100.0%
$

22,018,783

#### FootnoteRuleAboveBlank

#### Footnotes:

#### Definitions:
ADR

American

Depositary

Receipt

\*

Non-income

producing

†

Security

fully

or

partially

on

loan.

Total

market

value

of

securities

on

loan

is

$1,271,846.

(a) Rate

shown

is

the

1-day

yield

as

of

09/30/25.

144A

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended,

or

otherwise

restricted.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

unless

otherwise

noted.

These

securities

have

an

aggregate

value

of

$142,247,

or

0.6%

of

net

assets.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** VanEck ETF Trust

- **b. Investment Company Act file number:** 811-10325

- **c. CIK number of Registrant:** 0001137360

- **d. LEI of Registrant:** 549300ZLFKNTXC51ZN76

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 666 THIRD AVENUE, 9TH FLOOR

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-293-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** VanEck Brazil Small-Cap ETF

- **b. EDGAR series identifier (if any):** S000025533

- **c. LEI of Series:** 549300ZD9CS886VZLI44

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $22564901.18

**Total Liabilities:** $546168.85

**Net Assets:** $22018732.33

**Cash Not Reported:** $75543.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000076451 | -7.80%               | 10.64%               | 3.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $175.35                  | $-1580318.13                               |
| Month 2  | $-326.45                 | $1901504.82                                |
| Month 3  | $1282443.69              | $-584855.34                                |

### Schedule of Portfolio Investments

| Name                                                                            | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ERO Copper Corp                                                                 | ERO Copper Corp                                                                 | CUSIP: 296006109<br>LEI: 549300KL8A21SEIO8I47 | Long             | EC               | CORP              | CA        |     41139 | NS      | $832241.97    | 3.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Cogna Educacao SA                                                               | Cogna Educacao SA                                                               | CUSIP: 000000000<br>LEI: 549300BTP1E45NJ6R194 | Long             | EC               | CORP              | BR        |    909600 | NS      | $570823.24    | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MRV Engenharia e Participacoes SA                                               | MRV Engenharia e Participacoes SA                                               | CUSIP: 000000000<br>LEI: 2549008V044NSKWJZ777 | Long             | EC               | CORP              | BR        |    164300 | NS      | $229984.50    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hospital Mater Dei SA                                                           | Hospital Mater Dei SA                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     37700 | NS      | $32513.13     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Cia de Ferro Ligas da Bahia FERBASA                                             | Cia de Ferro Ligas da Bahia FERBASA                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BR        |     81100 | NS      | $98284.56     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Sao Martinho S/A                                                                | Sao Martinho S/A                                                                | CUSIP: 000000000<br>LEI: 549300R3Z74BNJBF4161 | Long             | EC               | CORP              | BR        |     83500 | NS      | $272358.49    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Intelbras SA Industria de Telecomunicacao Eletronica Brasileira                 | Intelbras SA Industria de Telecomunicacao Eletronica Brasileira                 | CUSIP: 000000000<br>LEI: 254900KMTRJJ34YRJE34 | Long             | EC               | CORP              | BR        |     53600 | NS      | $118635.54    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Iochpe Maxion SA                                                                | Iochpe Maxion SA                                                                | CUSIP: 000000000<br>LEI: 2549005ZCUW2L5GKJI76 | Long             | EC               | CORP              | BR        |     75452 | NS      | $168986.39    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcopolo SA                                                                    | Marcopolo SA                                                                    | CUSIP: 000000000<br>LEI: 254900XL58LF2D2QUX37 | Long             | EP               | CORP              | BR        |    373240 | NS      | $624842.58    | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Kepler Weber SA                                                                 | Kepler Weber SA                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     75550 | NS      | $103908.31    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Light S/A                                                                       | Light S/A                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     87000 | NS      | $94809.53     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Randon SA Implementos e Participacoes                                           | Randon SA Implementos e Participacoes                                           | CUSIP: 000000000<br>LEI: 254900LW6AGK8N452319 | Long             | EP               | CORP              | BR        |     98200 | NS      | $113472.69    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Empreendimentos Pague Menos S/A                                                 | Empreendimentos Pague Menos S/A                                                 | CUSIP: 000000000<br>LEI: 549300FBHB2O0Y7P2P98 | Long             | EC               | CORP              | BR        |     47222 | NS      | $31941.23     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Blau Farmaceutica SA                                                            | Blau Farmaceutica SA                                                            | CUSIP: 000000000<br>LEI: 254900YP8DZ5SO4GQR53 | Long             | EC               | CORP              | BR        |     18850 | NS      | $49230.12     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Direcional Engenharia SA                                                        | Direcional Engenharia SA                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    185400 | NS      | $563280.19    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Fleury SA                                                                       | Fleury SA                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    159737 | NS      | $484410.76    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ez Tec Empreendimentos e Participacoes S/A                                      | Ez Tec Empreendimentos e Participacoes S/A                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     91652 | NS      | $283105.62    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vivara Participacoes SA                                                         | Vivara Participacoes SA                                                         | CUSIP: 000000000<br>LEI: 254900KO2WRLAVSJDR42 | Long             | EC               | CORP              | BR        |     74500 | NS      | $399778.29    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Tres Tentos Agroindustrial S/A                                                  | Tres Tentos Agroindustrial S/A                                                  | CUSIP: 000000000<br>LEI: 549300QQ67YECUJQIV31 | Long             | EC               | CORP              | BR        |     72750 | NS      | $191093.05    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Grendene SA                                                                     | Grendene SA                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    105400 | NS      | $103177.04    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Moura Dubeux Engenharia S/A                                                     | Moura Dubeux Engenharia S/A                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     28300 | NS      | $159146.79    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Serena Energia SA                                                               | Serena Energia SA                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    145452 | NS      | $337513.68    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors                                                    | State Street Navigator Securities Lending Government Money Market Portfolio     | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    368842 | NS      | $368842.00    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Mahle Metal Leve SA                                                             | Mahle Metal Leve SA                                                             | CUSIP: 000000000<br>LEI: 5299007RXRC7NGOR6145 | Long             | EC               | CORP              | BR        |     29300 | NS      | $150346.75    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Zamp SA                                                                         | Zamp SA                                                                         | CUSIP: 000000000<br>LEI: 213800C6KT7YTDPUAB54 | Long             | EC               | CORP              | BR        |     40415 | NS      | $26729.45     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Adecoagro SA                                                                    | Adecoagro SA                                                                    | CUSIP: 000000000<br>LEI: 529900Q00UR5LFELO811 | Long             | EC               | CORP              | LU        |      5839 | NS      | $45777.76     | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| IRB-Brasil Resseguros SA                                                        | IRB-Brasil Resseguros SA                                                        | CUSIP: 000000000<br>LEI: 21380017DVWSU9AEU878 | Long             | EC               | CORP              | BR        |     32023 | NS      | $294823.99    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ituran Location and Control Ltd                                                 | Ituran Location and Control Ltd                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |      6970 | NS      | $248968.40    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alupar Investimento SA                                                          | Alupar Investimento SA                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    131593 | NS      | $790954.97    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Plano & Plano Desenvolvimento Imobiliario SA                                    | Plano & Plano Desenvolvimento Imobiliario SA                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     34500 | NS      | $110651.51    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SONDA SA                                                                        | SONDA SA                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CL        |    216855 | NS      | $82396.13     | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| M Dias Branco SA                                                                | M Dias Branco SA                                                                | CUSIP: 000000000<br>LEI: 894500SZMRHGUL2PHQ60 | Long             | EC               | CORP              | BR        |     73200 | NS      | $395277.94    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo SBF SA                                                                    | Grupo SBF SA                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     50000 | NS      | $122128.80    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Iguatemi SA                                                                     | Iguatemi SA                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    126450 | NS      | $581614.17    | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cury Construtora e Incorporadora SA                                             | Cury Construtora e Incorporadora SA                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     83550 | NS      | $542688.43    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Oncoclinicas do Brasil Servicos Medicos SA                                      | Oncoclinicas do Brasil Servicos Medicos SA                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    115850 | NS      | $72266.80     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| JHSF Participacoes SA                                                           | JHSF Participacoes SA                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    190950 | NS      | $232128.61    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Bradespar SA                                                                    | Bradespar SA                                                                    | CUSIP: 000000000<br>LEI: 9598001UD1DHEH3PZ471 | Long             | EP               | CORP              | BR        |    101300 | NS      | $322233.83    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Camil Alimentos SA                                                              | Camil Alimentos SA                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     61350 | NS      | $58211.75     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| C&A MODAS SA                                                                    | C&A MODAS SA                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     86350 | NS      | $265916.95    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Braskem SA                                                                      | Braskem SA                                                                      | CUSIP: 105532105<br>LEI: 549300RPMQUFGBB7EY44 | Long             | EC               | CORP              | BR        |     48360 | NS      | $117031.20    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| YDUQS Participacoes SA                                                          | YDUQS Participacoes SA                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    115200 | NS      | $279653.15    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroreconcavo S/A                                                              | Petroreconcavo S/A                                                              | CUSIP: 000000000<br>LEI: 2549002HI638C802VA74 | Long             | EC               | CORP              | BR        |     78800 | NS      | $186700.74    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| SLC Agricola SA                                                                 | SLC Agricola SA                                                                 | CUSIP: 000000000<br>LEI: 54930017BQDYJPIJXG79 | Long             | EC               | CORP              | BR        |    101000 | NS      | $311411.53    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Orizon Valorizacao de Residuos SA                                               | Orizon Valorizacao de Residuos SA                                               | CUSIP: 000000000<br>LEI: 894500ACAMVLSLV62B28 | Long             | EC               | CORP              | BR        |     33650 | NS      | $352480.15    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcos Dorados Holdings Inc                                                      | Arcos Dorados Holdings Inc                                                      | CUSIP: 000000000<br>LEI: 54930023P2MIZN13DQ85 | Long             | EC               | CORP              | VG        |     58752 | NS      | $396576.00    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMPAR SA                                                                       | SIMPAR SA                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    178400 | NS      | $167263.09    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Afya Ltd                                                                        | Afya Ltd                                                                        | CUSIP: 000000000<br>LEI: 54930008Y7J8Z1BSDT57 | Long             | EC               | CORP              | KY        |      8705 | NS      | $135798.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcabras SA                                                                    | Vulcabras SA                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     41700 | NS      | $154193.43    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Armac Locacao Logistica E Servicos SA                                           | Armac Locacao Logistica E Servicos SA                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     54600 | NS      | $38060.22     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Minerva SA/Brazil                                                               | Minerva SA/Brazil                                                               | CUSIP: 000000000<br>LEI: 391200UHL6YHY0OA1P30 | Long             | EC               | CORP              | BR        |    267100 | NS      | $338752.41    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Vamos Locacao de Caminhoes Maquinas e Equipamentos SA                           | Vamos Locacao de Caminhoes Maquinas e Equipamentos SA                           | CUSIP: 000000000<br>LEI: 9845004ADLE5510G4A37 | Long             | EC               | CORP              | BR        |    239850 | NS      | $155476.07    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Unipar Carbocloro SA                                                            | Unipar Carbocloro SA                                                            | CUSIP: 000000000<br>LEI: 25490038QVMHO6NX9E92 | Long             | EP               | CORP              | BR        |     29800 | NS      | $396362.82    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Dimed SA Distribuidora da Medicamentos                                          | Dimed SA Distribuidora da Medicamentos                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     56250 | NS      | $103257.55    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cia De Sanena Do Parana                                                         | Cia De Sanena Do Parana                                                         | CUSIP: 000000000<br>LEI: 254900SZW9X2D21A7X94 | Long             | EC               | CORP              | BR        |     88900 | NS      | $618863.26    | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyrela Brazil Realty SA Empreendimentos e Participacoes                         | Cyrela Brazil Realty SA Empreendimentos e Participacoes                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    165950 | NS      | $957238.95    | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Auren Energia SA                                                                | Auren Energia SA                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    190100 | NS      | $366823.62    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Pan SA                                                                    | Banco Pan SA                                                                    | CUSIP: 000000000<br>LEI: 549300C24AZJIIZMBJ10 | Long             | EP               | CORP              | BR        |    167800 | NS      | $245287.99    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Raizen SA                                                                       | Raizen SA                                                                       | CUSIP: 000000000<br>LEI: 5493000WQL3QP7QXX484 | Long             | EP               | CORP              | BR        |    587250 | NS      | $112545.45    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexco SA                                                                        | Dexco SA                                                                        | CUSIP: 000000000<br>LEI: 8945004WLNADCQEEFF38 | Long             | EC               | CORP              | BR        |    206000 | NS      | $224491.52    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| LOG Commercial Properties e Participacoes SA                                    | LOG Commercial Properties e Participacoes SA                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     15900 | NS      | $70205.27     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Fras-Le SA                                                                      | Fras-Le SA                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     21300 | NS      | $90286.63     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Usinas Siderurgicas de Minas Gerais S/A Usiminas                                | Usinas Siderurgicas de Minas Gerais S/A Usiminas                                | CUSIP: 000000000<br>LEI: 2549001OK55PFGXM4827 | Long             | EP               | CORP              | BR        |    271900 | NS      | $216099.77    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Karoon Energy Ltd                                                               | Karoon Energy Ltd                                                               | CUSIP: 000000000<br>LEI: 529900VXILHR2CNBWD62 | Long             | EC               | CORP              | AU        |    299092 | NS      | $325048.18    | 1.48%             |  |  |  | No            |                  2 | On Loan: —       |
| Movida Participacoes SA                                                         | Movida Participacoes SA                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     83350 | NS      | $140319.60    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Irani Papel e Embalagem SA                                                      | Irani Papel e Embalagem SA                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     68600 | NS      | $107496.64    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Magazine Luiza SA                                                               | Magazine Luiza SA                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    172600 | NS      | $311326.98    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Tupy SA                                                                         | Tupy SA                                                                         | CUSIP: 000000000<br>LEI: 254900YH8MOZMIBO3R79 | Long             | EC               | CORP              | BR        |     23600 | NS      | $57866.50     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Azzas 2154 SA                                                                   | Azzas 2154 SA                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     59075 | NS      | $334653.81    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Hidrovias do Brasil SA                                                          | Hidrovias do Brasil SA                                                          | CUSIP: 000000000<br>LEI: 254900VN0UH5HO2RVM63 | Long             | EC               | CORP              | BR        |    198615 | NS      | $125388.02    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| LWSA SA                                                                         | LWSA SA                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    165300 | NS      | $142246.98    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Tegma Gestao Logistica SA                                                       | Tegma Gestao Logistica SA                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |      8900 | NS      | $58059.66     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cia Brasileira de Aluminio                                                      | Cia Brasileira de Aluminio                                                      | CUSIP: 000000000<br>LEI: 5493001QYTIDILBVYO18 | Long             | EC               | CORP              | BR        |    117850 | NS      | $78828.69     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco do Estado do Rio Grande do Sul SA                                         | Banco do Estado do Rio Grande do Sul SA                                         | CUSIP: 000000000<br>LEI: 254900W2BN097WLYIM20 | Long             | EP               | CORP              | BR        |    118250 | NS      | $265505.66    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci Compass Investments Ltd                                                   | Vinci Compass Investments Ltd                                                   | CUSIP: 000000000<br>LEI: 254900WV6Y7P21PJ5B49 | Long             | EC               | CORP              | KY        |     15055 | NS      | $161841.25    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Construtora Tenda S/A                                                           | Construtora Tenda S/A                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     46500 | NS      | $227945.89    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Guararapes Confeccoes SA                                                        | Guararapes Confeccoes SA                                                        | CUSIP: 000000000<br>LEI: 2549009NMB6VIHMFI409 | Long             | EC               | CORP              | BR        |     49550 | NS      | $88165.44     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Casas Bahia SA                                                            | Grupo Casas Bahia SA                                                            | CUSIP: 000000000<br>LEI: 984500F4BB82D0AB8237 | Long             | EC               | CORP              | BR        |     57300 | NS      | $42203.20     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilson Sons SA                                                                  | Wilson Sons SA                                                                  | CUSIP: 000000000<br>LEI: 25490033I0F25FUYFJ42 | Long             | EC               | CORP              | BR        |     82250 | NS      | $282035.32    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA | Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     25300 | NS      | $100539.25    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cia de Saneamento de Minas Gerais Copasa MG                                     | Cia de Saneamento de Minas Gerais Copasa MG                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    111038 | NS      | $719564.21    | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco ABC Brasil SA                                                             | Banco ABC Brasil SA                                                             | CUSIP: 000000000<br>LEI: 549300K1V1WOTCGNSI96 | Long             | EP               | CORP              | BR        |     53298 | NS      | $232829.82    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mills Locacao Servicos e Logistica SA                                           | Mills Locacao Servicos e Logistica SA                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     42350 | NS      | $94610.64     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Odontoprev SA                                                                   | Odontoprev SA                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    146590 | NS      | $364667.50    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cruzeiro do Sul Educacional SA                                                  | Cruzeiro do Sul Educacional SA                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     36150 | NS      | $33417.82     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Pet Center Comercio e Participacoes SA                                          | Pet Center Comercio e Participacoes SA                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    132450 | NS      | $94318.29     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BrasilAgro - Co Brasileira de Propriedades Agricolas                            | BrasilAgro - Co Brasileira de Propriedades Agricolas                            | CUSIP: 000000000<br>LEI: HNU7Z5273PRV5T5S5F07 | Long             | EC               | CORP              | BR        |     29950 | NS      | $113953.22    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpargatas SA                                                                   | Alpargatas SA                                                                   | CUSIP: 000000000<br>LEI: 254900LU3422XPKEQJ79 | Long             | EP               | CORP              | BR        |     94250 | NS      | $166815.73    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| VTEX                                                                            | VTEX                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     30759 | NS      | $134724.42    | 0.61%             |  |  |  | No            |                  1 | On Loan: —       |
| EcoRodovias Infraestrutura e Logistica SA                                       | EcoRodovias Infraestrutura e Logistica SA                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    191090 | NS      | $281128.23    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ESG MINERALS                                                                    | ESG MINERALS                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     26308 | NS      | $696.32       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Brava Energia                                                                   | Brava Energia                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    203259 | NS      | $686663.88    | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** VanEck ETF Trust

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer