Share-split context: A forward split was recorded on Feb 6, 2025 with coefficient 5. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

What this ETF is trying to do

The VanEck Environmental Services ETF (EVX) invests in companies that provide environmental services. Based on its top holdings, this includes businesses involved in waste management, water services, and environmental cleanup.

Top Holdings

As of October 8, 2026, the ETF's largest holdings include:

• Ecolab Inc (8.54%)

• Waste Management Inc (7.5%)

• Waste Connections Inc (6.99%)

• Republic Services Inc (6.5%)

• Veralto Corp (5.71%)

These are partial holdings, meaning they are only the largest companies in the fund. Holdings can change over time.

What the numbers show

The current price of the ETF is $39.15. Because this ETF has a history of share splits, we look at split-adjusted returns to see how it has performed.

• Year-to-Date (YTD): The price return and total return are both approximately 2.39%.

• One Year: The price return (share price change only) is approximately 0.90%, while the total return (which includes distributions) is approximately 1.08%.

• Three Year: The price return is approximately 38.02%, and the total return is approximately 40.26%.

• Five Year: The total return is approximately 35.75%.

Share Split Note: This ETF had a "forward split" on February 6, 2025, with a coefficient of 5. This means each old share became five new shares, and the price per share fell proportionally. This split did not create a gain or a loss; it only changed the number of shares.

Income and distribution explanation

The ETF has a distribution yield of approximately 0.18%. Over the last 12 months, it has made one payout. The distribution frequency is described as irregular or less frequent.

It is important for beginners to know that a distribution yield is not the same as a total return. While distributions provide cash income, they do not guarantee that the original investment value will stay the same.

NAV erosion explanation

"NAV erosion" happens when the net asset value of a fund declines over time. Investors who want steady income usually care about principal stability so their original investment doesn't shrink.

For this ETF, the erosion-risk score is 94, which is labeled as "Stable / sideways" with "good" severity. There is no severe erosion-risk flag for this fund.

Pros

• The fund has shown positive total returns over the one-year, three-year, and five-year periods.

• It has a "good" erosion-risk measurement.

Cons

• The distribution yield is very low.

• Payouts are irregular rather than scheduled.

Beginner takeaway

EVX provides exposure to environmental and waste companies. While it has seen growth over several years, it is not a high-income fund. Investors should distinguish between the price return (the change in share price) and the total return (which includes cash payouts).