Investment objective & strategy
As of April 29, 2025 · prospectusObjective. VanEck Oil Refiners ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS Global Oil Refiners Index (the Oil Refiners Index or the Index).
Strategy. The Fund normally invests at least 80% of its total assets in securities that comprise the Funds benchmark index. For purposes of this policy, the term assets means net assets plus the amount of any borrowings for investment purposes. The Oil Refiners Index includes equity securities and depositary receipts of companies in the global oil refining segment. To be initially eligible for the Oil Refiners Index, companies must generate at least 50% of their revenues from crude oil refining. Products of these companies may include gasoline, diesel, jet fuel, fuel oil, naphtha, and other petrochemicals. Companies which operate in the marketing and distribution of these products may be included in the Oil Refiners Index if refining is performed in company-owned … The Fund normally invests at least 80% of its total assets in securities that comprise the Funds benchmark index. For purposes of this policy, the term assets means net assets plus the amount of any borrowings for investment purposes. The Oil Refiners Index includes equity securities and depositary receipts of companies in the global oil refining segment. To be initially eligible for the Oil Refiners Index, companies must generate at least 50% of their revenues from crude oil refining. Products of these companies may include gasoline, diesel, jet fuel, fuel oil, naphtha, and other petrochemicals. Companies which operate in the marketing and distribution of these products may be included in the Oil Refiners Index if refining is performed in company-owned refineries. Such companies may include medium-capitalization companies and foreign and emerging market issuers. As of December 31, 2024, the Oil Refiners Index included 25 securities of companies with a market capitalization range of between approximately $917 million and $192.2 billion and a weighted average market capitalization of $30.7 billion. These amounts are subject to change. The Funds 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days prior written notice to shareholders. The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the Oil Refiners Index by investing in a portfolio of securities that generally replicates the Oil Refiners Index. Unlike many investment companies that try to beat the performance of a benchmark index, the Fund does not try to beat the Oil Refiners Index and does not seek temporary defensive positions that are inconsistent with its investment objective of seeking to replicate the Oil Refiners Index. The Fund is classified as a non-diversified fund under the Investment Company Act of 1940, as amended (the Investment Company Act of 1940), and, therefore, may invest a greater percentage of its assets in a particular issuer. The Fund may concentrate its investments in a particular industry or group of industries to the extent that the Oil Refiners Index concentrates in an industry or group of industries. As of December 31, 2024, the energy sector represented a significant portion of the Fund.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| VALERO ENERGY CORP | — | $10.87M | 8.23% |
| RELIANC-GDR 144A | RLNIY US | $9.93M | 7.51% |
| PHILLIPS 66 | — | $9.56M | 7.24% |
| MARATHON PETROLEUM CORP | — | $8.89M | 6.73% |
| PKN ORLEN | — | $7.85M | 5.94% |
| ENEOS HOLDINGS I | — | $7.27M | 5.50% |
| NESTE OYJ | — | $7.00M | 5.30% |
| HF SINCLAIR CORP | — | $6.33M | 4.79% |
| OMV AG | — | $6.20M | 4.69% |
| IDEMITSU KOSAN C | — | $6.17M | 4.67% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| iShares U.S. Oil & Gas Exploration & Production ETF · IEO | 23% | 0.38% |
| Invesco Energy Exploration & Production ETF · PXE | 18% | 0.61% |
| State Street(R) SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF · XOP | 16% | 0.35% |
Advisers
| Firm | Role |
|---|---|
| Van Eck Associates Corporation | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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