[SCHEDULE 13G] VanEck Low Carbon Energy ETF SEC Filing

Rhea-AI Filing Summary

Filing: Schedule 13G reporting beneficial ownership in VanEck High Yield Muni ETF (CUSIP 92189H409), relating to the 06/30/2025 record date and signed 08/05/2025.

Holdings: FMR LLC and Abigail P. Johnson each report beneficial ownership of 4,651,086.63 shares, representing 7.0% of the class. Reported powers: sole voting power 0.00, shared voting power 0.00, sole dispositive power 4,651,086.63, shared dispositive power 0.00. FMR LLC is identified as type HC; Abigail P. Johnson as type IN.

Other items: Item 6 notes other persons have rights to receive dividends or sale proceeds but none exceed 5%. The filing references Exhibit 99 for a 13d-1(k)(1) agreement and includes a certification that holdings were acquired in the ordinary course and not for control.

Positive

• Material disclosed stake: Reporting persons hold 4,651,086.63 shares (7.0%), a clearly reported position above 5%
• Clear dispositive authority: Sole dispositive power is reported for the full position, clarifying control over disposition
• Certification of passive intent: Item 10 certifies shares were acquired in the ordinary course and not to change or influence control

Negative

• No voting power reported (0.00), so the position conveys limited direct governance influence
• Limited detail on underlying holders: Item 6 notes other persons have rights to dividends/proceeds but does not identify any >5% holders
• Reliance on an exhibit: Key agreement referenced in Exhibit 99 is not included within the filing text provided here

Insights

Securities Analyst

TL;DR: A passive, material (>5%) stake of 7.0% is disclosed with dispositive but not voting power; filing indicates no intent to influence control.

The Schedule 13G shows FMR LLC and Abigail P. Johnson beneficially own 4,651,086.63 shares (7.0%) of VanEck High Yield Muni ETF (CUSIP 92189H409). The position reports sole dispositive power and zero voting power, and the certification states the shares are held in the ordinary course and not to affect control. For investors, this is a material passive stake that may affect potential liquidity and short-term trading interest but does not signal governance engagement.

Corporate Governance Expert

TL;DR: Material ownership disclosed but structured as passive; no immediate corporate control implications from this filing.

The filing identifies reporting persons and types (FMR LLC as HC, Abigail P. Johnson as IN), and confirms 0.00 voting power while retaining dispositive authority. The certification in Item 10 affirms absence of intent to influence control. The reference to Exhibit 99 suggests an agreement among filers under Rule 13d-1(k)(1), which may explain aggregated reporting. From a governance perspective, investors should note the size but recognize this Schedule 13G signals passive ownership rather than an activist intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

VanEck High Yield Muni ETF

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

92189H409

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 92189H409

1

Names of Reporting Persons

FMR LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 4,651,086.63
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,651,086.63

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 92189H409

1

Names of Reporting Persons

Abigail P. Johnson

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 4,651,086.63
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,651,086.63

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: VanEck High Yield Muni ETF
(b)	Address of issuer's principal executive offices: 666 THIRD AVENUE,9TH FLOOR,NEW YORK,NY,US,10017
Item 2.
(a)	Name of person filing: FMR LLC
(b)	Address or principal business office or, if none, residence: 245 Summer Street, Boston, Massachusetts 02210
(c)	Citizenship: Not applicable
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 92189H409
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4651086.63
(b)	Percent of class: 7.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 4651086.63
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of VanEck High Yield Muni ETF. No one other person's interest in the COMMON STOCK of VanEck High Yield Muni ETF is more than five percent of the total outstanding COMMON STOCK.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FMR LLC

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of May 23, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries*
Date:	08/05/2025

Abigail P. Johnson

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of May 23, 2023, by and on behalf of Abigail P. Johnson*
Date:	08/05/2025

Comments accompanying signature: *This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on August 8, 2023, accession number: 0000315066-23-002397.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.

FAQ

Who filed the Schedule 13G for VanEck High Yield Muni ETF?

The Schedule 13G was filed on behalf of FMR LLC and Abigail P. Johnson, signed 08/05/2025.

How many shares and what percent of VanEck High Yield Muni ETF were reported?

The filing reports beneficial ownership of 4,651,086.63 shares, representing 7.0% of the class (CUSIP 92189H409).

Does the filing indicate voting control of the shares?

No. The filing reports sole voting power 0.00 and shared voting power 0.00.

Was the position acquired to influence control of the issuer?

No. Item 10 certifies the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Is there any agreement or exhibit referenced in the filing?

Yes. The filing references Exhibit 99 for a 13d-1(k)(1) agreement; the exhibit itself is not included in the provided text.