ETF Evaluator:
VanEck Long Muni ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Muni National Long Over the Last Year
| 8.5% | Rareview Tax Advantaged Income ETF (RTAI) |
| 8.4% | First Trust Flexible Muncpl Hgh Inc ETF (MFLX) |
| 8.1% | VanEck Long Muni ETF (MLN) |
| 7.9% | Overlay Shares Municipal Bond ETF (OVM) |
| 7.6% | iShares Long-Term National Muni Bd ETF (LMUB) |
Risk
Index
Risk
Index
ETF Details
VanEck Long Muni ETF Overview
VanEck Long Muni ETF (MLN) is a passively managed Municipal Bond Muni National Long exchange-traded fund (ETF). VanEck launched the ETF in 2008.
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Long AMT-Free Broad National Municipal Index.
The fund normally invests at least 80% of its total assets in fixed income securities that comprise the index. The index is comprised of publicly traded municipal bonds that cover the U.S. dollar denominated long-term tax-exempt bond market.
About VanEck Long Muni ETF (MLN)
There are 1 members of the management team with an average tenure of 3.67 years: Stephanie Wang (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: ICE US Broad Municipal TR LOC index with a weighting of 100% and ICE Long AMT-Free Brd Nat Muni TR USD index with a weighting of 100%. VanEck Long Muni ETF has 655 securities in its portfolio. The top 10 holdings constitute 5.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VanEck Long Muni ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. VanEck Long Muni ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.7% (99.7% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VanEck Long Muni ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $677 million in total assets, which is below the $744 million average for the Muni National Long category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MLN Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VanEck Long Muni ETF expense ratio is below average compared to funds in the Muni National Long category. VanEck Long Muni ETF has an expense ratio of 0.24%, which is 54% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VanEck Long Muni ETF has a portfolio turnover rate of 7%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 22% for the Muni National Long category.
Recently, in the month of July 2026, VanEck Long Muni ETF returned -2.2%, which earned it a grade of D, as the Muni National Long category had an average return of -2.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VanEck Long Muni ETF has a trailing yield of 3.85%, which is below the 4.12% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VanEck Long Muni ETF Grades
Year to date, the ETF has returned 1.2%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 8.1% over the past year (grade of A), 2.8% over the past three years (grade of D) and -1.4% per year over the past five years (grade of F) and 1.2% per year over the past 10 years (grade of F).
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MLN Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MLN Return (NAV) | -2.2% | -0.4% | 8.1% | 2.8% | -1.4% | 1.2% |
| MLN Return (Price) | -1.9% | -0.5% | 8.5% | 2.6% | -1.4% | 1.2% |
| NAV +/- Price Return | -0.275% | 0.169% | -0.388% | 0.135% | 0.001% | 0.025% |
| Muni National Long Avg | -2.0% | -0.4% | 7.0% | 3.6% | -0.4% | 1.6% |
| MLN Grade (NAV) | D | C | A | D | F | F |
| +/- Category (NAV) | -0.2% | 0.1% | 1.1% | -0.8% | -1.0% | -0.4% |
| MLN Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
MLN Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MLN Return (NAV) | 1.2% | 2.1% | 1.6% | 7.8% | -17.5% | 2.2% | 6.5% | 10.2% | -0.7% | 8.6% | 0.2% |
| MLN Return (Price) | 1.0% | 1.8% | 1.5% | 8.0% | -17.2% | 2.2% | 6.2% | 10.6% | -0.8% | 8.2% | 0.2% |
| NAV +/- Price Ret | -0.151% | -0.133% | -0.031% | 0.029% | -0.019% | -0.008% | -0.036% | 4.4% | 6.5% | -4.4% | 4.9% |
| Muni National Long Avg | 1.0% | 3.9% | 2.5% | 7.4% | -14.7% | 3.3% | 6.6% | 10.0% | -0.2% | 6.9% | 1.3% |
| MLN Grade (NAV) | C | F | D | B | D | D | C | B | F | A | F |
| +/- Category | 0.2% | -1.8% | -0.9% | 0.5% | -2.8% | -1.1% | -0.2% | 0.2% | -0.6% | 1.6% | -1.2% |
| Risk Measures | |
| Beta: | 1.40 |
| R-Squared: | 95% |
| Standard Deviation: | 8.2% |
| Category Risk Index: | 1.07 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.67 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 3.9% |
| Total Assets: | $ 678 Mil |
| Share Class Assets: | $ 678 Mil |
| Turnover: | 7.0% |
| Expense Ratio: | 0.24% |
| Index Fund: | Yes |
| Index Tracked: | ICE US Broad Municipal TR LOC |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 3.7 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Wang Stephanie (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 655 |
| % in Top 10 Holdings: | 5.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.7% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | VanEck |
| Phone Number: | 800-826-2333 |
| Website: | www.marketvectorsetfs.com |
| Inception Date: | January 2, 2008 |
Expenses and Fees
| Expense Ratio (%): | 0.24% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.52% |
