VANECK ETF TRUST

Ticker: MLN CUSIP: 92189F536 Class: LONG MUNI ETF

Baird Financial Group, Inc.'s Holding History (CIK: 0001648711)

Note: Option positions (PUT/CALL) are excluded.

Q3 2016
Shares 24,587 Value ($000) $512 Avg Close — Range —
Q2 2016
Shares 23,576 Value ($000) $497 Avg Close — Range —