vaneck (europe)
Not For Use in the United States. The principal risks of investing in VanEck
ETFs include sector, market, economic, political, foreign currency, world event,
index tracking and non-diversification risks, as well as fluctuations in net
asset value and the risks associated with investing in less developed capital
markets. The ETFs may loan their securities, which may subject them to
additional credit and counterparty risk. ETFs that invest in high-yield
securities are subject to risks associated with investing in high-yield
securities, which include a greater risk of loss of income and principal than
funds holding higher-rated securities; concentration risk; credit risk; hedging
risk; interest rate risk; and short sale risk. ETFs that invest in companies
with small capitalizations are subject to elevated risks, which include, among
others, greater volatility, lower trading volume and less liquidity than larger
companies. Please see the prospectus of each ETF for more complete information
regarding each ETF's specific risks.
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