Market Vectors ETFs, the fifth largest provider of exchange-traded products in the U.S. and the eighth largest provider of ETPs globally, announced today that it has added six NYSE Arca-traded ETFs to the growing list of depository receipts based on Market Vectors ETFs currently available to Qualified Investors in Mexico. Deutsche Securities Casa de Bolsa in Mexico will act as local sponsor and filing agent for depositary receipts on the following ETFs:
- Market Vectors High-Yield Municipal Index ETF (Ticker: HYD)
Assets under management1: USD924.4 M
30-day average daily trading volume1,2: 259 thousand shares
- Market Vectors Intermediate Municipal Index ETF (Ticker: ITM)
Assets under management1: USD641.6 M
30-day average daily trading volume1,2: 185 thousand shares
- Market Vectors Long Municipal Index ETF (Ticker: MLN)
Assets under management1: USD106.6 M
30-day average daily trading volume1,2: 37 thousand shares
- Market Vectors Morningstar Wide Moat Research ETF (Ticker: MOAT)
Assets under management1: USD63.4 M
30-day average daily trading volume1,2: 39 thousand shares
- Market Vectors Mortgage REIT Income ETF (Ticker: MORT)
Assets under management1: USD90.2 M
30-day average daily trading volume1,2: 80 thousand shares
- Market Vectors Short Municipal Index ETF (Ticker: SMB)
Assets under management1: USD175.4 M
30-day average daily trading volume1,2: 56 thousand shares
1 As of 10/31/12; 2Source: Bloomberg.
The six Market Vectors ETFs underlying such depositary receipts seek to replicate as closely as possible, before fees and expenses, the price and yield performance of a corresponding rules-based index, as described below.
|ETF Ticker||Underlying Index|
|HYD||The Barclays Capital Municipal Custom High Yield Composite Index (LMEHTR) is a market value weighted Index that tracks the high yield municipal bond market with a 75% weight in non-investment grade municipal bonds and a 25% weight in Baa/BBB-rated investment grade municipal bonds for liquidity and balance.|
|ITM||The Barclays Capital AMT-Free Intermediate Continuous Municipal Index Index (LMT2TR) is a market value weighted index designed to replicate the price movements of medium-duration bonds with a nominal maturity of 6-17 years.|
|MLN||The Barclays Capital AMT-Free Long Continuous Municipal Index (LMT3TR) is a market value weighted index designed to replicate the price movements of long-duration bonds with a nominal maturity of 17 years or more.|
|MOAT||The Morningstar® Wide Moat Focus IndexSM (MWMFTR) is a rules-based, equal-weighted index intended to offer exposure to the 20 most attractively priced companies with sustainable competitive advantages according to Morningstar’s equity research team.|
|MORT||The Market Vectors Global Mortgage REITs Index (MVMORTTR) is a rules based index intended to track the overall performance of publicly traded mortgage REITs.|
|SMB||The Barclays Capital AMT-Free Short Continuous Municipal Index (LMT1TR), a market value weighted index designed to replicate the price movements of short-duration bonds with a nominal maturity of 1-6 years.|
Other Market Vectors ETFs Available in Mexico
With the addition of these six ETFs, Market Vectors ETFs now offers depositary receipts on the following 30 ETFs to Qualified Investors in Mexico.
|Market Vectors ETFs Available to Qualified Investors in Mexico||Ticker|
|Market Vectors Broad-Based U.S. ETFs|
|Morningstar Wide Moat Research ETF||MOAT|
|Market Vectors Hard Assets ETFs|
|Global Alternative Energy ETF||GEX|
|Gold Miners ETF||GDX|
|Junior Gold Miners ETF||GDXJ|
|Nuclear Energy ETF||NLR|
|Oil Services ETF||OIH|
|Rare Earth/Strategic Metals ETF||REMX|
|RVE Hard Assets Producers ETF||HAP|
|Market Vectors Industry ETFs|
|Market Vectors International Equity ETFs|
|Africa Index ETF||AFK|
|Brazil Small-Cap ETF||BRF|
|Egypt Index ETF||EGPT|
|Gulf States Index ETF||MES|
|India Small-Cap ETF||SCIF|
|Indonesia Index ETF||IDX|
|Market Vectors Equity Income ETFs|
|Mortgage REIT Income ETF||MORT|
|Market Vectors International Bond ETFs|
|Emerging Markets Local Currency Bond ETF||EMLC|
|Market Vectors U.S. Municipal Bond ETFs|
|High-Yield Municipal Index ETF||HYD|
|Intermediate Municipal Index ETF||ITM|
|Long Municipal Index ETF||MLN|
|Short Municipal Index ETF||SMB|
About Market Vectors ETFs
Market Vectors exchange-traded products have been offered since 2006 and span many asset classes, including equities, fixed income (municipal and international bonds) and currency markets. The Market Vectors family currently totals $27.9B in assets under management, making it the fifth largest ETP family in the U.S. and eighth largest worldwide as of September 30, 2012.
Market Vectors ETFs are sponsored by Van Eck Global. Founded in 1955, Van Eck Global was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today, the firm continues this tradition by offering innovative, actively managed investment choices in hard assets, emerging markets, precious metals including gold, and other alternative asset classes. Van Eck Global has offices around the world and manages approximately $37.8B in investor assets as of September 30, 2012.
There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. Debt securities carry interest rate and credit risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. Credit risk is the risk of loss on an investment due to the deterioration of an issuer’s financial health. High-yield and municipal securities have additional risks. The Funds’ underlying securities may be subject to call risk, which may result in the Funds having to reinvest the proceeds at lower interest rates, resulting in a decline in the Funds’ income.
The Funds have not been and will not be registered with the National Registry of Securities and Intermediaries of Mexico, pursuant to relevant securities laws and regulations of Mexico, and may not be publicly offered or sold within the Mexican territory in circumstances which constitute a public offer, within the meaning of the Securities Market Law (“Ley del Mercado de Valores”) of Mexico and its regulations.
The Market Vectors indices mentioned herein are the exclusive property of Market Vectors Index Solutions GmbH (a wholly owned subsidiary of the Adviser), which has contracted with Structured Solutions AG to maintain and calculate the Index. Structured Solutions AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards Market Vectors Index Solutions GmbH, Structured Solutions AG has no obligation to point out errors in the Index to third parties. The Funds are not sponsored, endorsed, sold or promoted by Market Vectors Index Solutions GmbH and Market Vectors Index Solutions GmbH makes no representation regarding the advisability of investing in the Funds.
The Barclays Capital Indices mentioned herein are calculated and maintained by Barclays Capital Inc. Barclays Capital Inc. does not sponsor, endorse, or promote the Funds and bears no liability with respect to any such Funds or security.
The Morningstar® Wide Moat Focus IndexSM was created and is maintained by Morningstar, Inc. Morningstar, Inc. does not sponsor, endorse, issue, sell, or promote the Market Vectors Morningstar Wide Moat Research ETF and bears no liability with respect to that ETF or any security. Morningstar® is a registered trademark of Morningstar, Inc. Morningstar® Wide Moat Focus IndexSM is a service mark of Morningstar, Inc.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.