1 “Warren Buffett on Business: Principles from the Sage of Omaha”, p.63, John Wiley & Sons

Important Disclosures

The Morningstar^® Wide Moat Focus IndexSM, Morningstar^® Global ex-US Moat Focus IndexSM, and Morningstar^® Global Wide Moat Focus IndexSM were created and are maintained by Morningstar, Inc. Morningstar, Inc. does not sponsor, endorse, issue, sell, or promote the VanEck Vectors Morningstar Wide Moat ETF, VanEck Vectors Morningstar International Moat ETF, or VanEck Vectors Morningstar Global Wide Moat ETF and bears no liability with respect to the ETFs or any security. Morningstar^® is a registered trademark of Morningstar, Inc. Morningstar Wide Moat Focus Index, Morningstar Global ex-US Moat Focus Index, and Morningstar^® Global Wide Moat Focus IndexSM are service marks of Morningstar, Inc.

The information herein represents the opinion of the author(s), but not necessarily those of VanEck, and these opinions may change at any time and from time to time. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Not intended to be a forecast of future events, a guarantee of future results or investment advice. Historical performance is not indicative of future results. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck.

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An investment in the VanEck Vectors Morningstar Wide Moat ETF (MOAT^®), VanEck Vectors Morningstar International Moat ETF (MOTI^®), VanEck Vectors Morningstar Global Wide Moat ETF (GOAT) and VanEck Morningstar Wide Moat Fund, (the “Funds”) may be subject to risks which include, among others, investing in the health care, consumer discretionary, consumer staples, industrials, telecommunications, information technology, financial services, medium-capitalization companies, equity securities, market, operational, high portfolio turnover, index tracking and data, emerging market issuers, special risk considerations of investing in European and Asian issuers, depositary receipts, cash transactions, underlying fund, new fund, market, operational, high portfolio turnover, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, replication management, passive management, fund shares trading, premium/discount risk and liquidity of fund shares, non-diversified, and concentration risks, which may make these investments volatile in price or difficult to trade. Medium-capitalization companies may be subject to elevated risks. Foreign investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, and changes in currency exchange rates which may negatively impact the Fund's returns.

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