The VanEck Oil Refiners ETF (CRAK) aims to closely mirror the investment returns of the MVIS Global Oil Refiners Index (MVCRAKTR), excluding its own operational costs. This specific index is systematically constructed using a modified market capitalization weighting method. It offers investors a benchmark to track the overall financial performance of companies primarily engaged in refining crude oil, transforming it into various products such as gasoline, diesel, jet fuel, fuel oil, naphtha, and other petrochemicals.