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  • Ticker:- BIZD;true;MVBIZD;
  • Ticker Group:- ETFFI_EI;false;;

  • Making News

    StreetAuthority: These High-Yield Funds Make a Great Investment Even Better


    05/22/13: StreetAuthority makes a compelling case for investing in business development companies, especially through the reduced risk approach of ETFs, and leads with BIZD. “Launched in February, this fund seeks to own the largest BDCs, with each holding given a weighted position (and rebalanced) according to its market value.”

    View article >> 


    Seeking Alpha: How Preferred ETFs Can Juice Your Income Portfolio


    04/09/13: Touting the benefits of preferred stock ETFs, Seeking Alpha underscores PFXF. "This new and unique offering from Van Eck Global seeks to differentiate itself by getting away from the traditional financial sector dominance of other preferred ETFs." 

    View article >> 


    Barron's: Yield's Final Frontier


    03/09/13: "After high-yield bonds, real-estate investment trusts, and leveraged loans comes yield's final frontier: the roughly $24 billion niche of business-development companies [BDCs]," reports Brendan Conway. "Van Eck Global last month launched the first BDC-only ETF, the Market Vectors BDC Income ETF (BIZD). Though it tracks 25 companies, 50% of assets are invested in five BDCs. One reason: You can count the number of companies with a $1 billion market capitalization on two hands." 

    View article >> 


    WSJ: Advisers Find Income Alternatives in Mortgage REITs


    03/06/13:  WSJ Reporter Murray Coleman highlights MORT in his recent article on mortgage REITs: But for most mainstream investors, mortgage REITs likely represent "a roundabout way" to lower portfolio correlations and generate higher income. He quotes product manager, Brandon R.: “we stress that MORT is designed to leverage the differences between short-term financing rates and longer-term MBS [mortgage-backed securities] yields.”
    View article >> 


    ETF Database: All About The New BDC Income ETF (BIZD)


    02/26/13: “The new Market Vectors BDC Income ETF (BIZD) gives investors access to a diversified pool of business development companies in the U.S., and indirectly to the typically small high-yielding companies they invest in,” writes Cory Mitchell. “Ultimately, BIZD is attractive if you are an investor looking for high yield—expected to be around 7.60% – and are willing to accept higher risk to get it.”
      View article >> 


  • How to Purchase

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BDC Income ETF BIZD

  • Full Name: Market Vectors®
    BDC Income ETF (BIZD)

    Management Style: Replication

    Underlying Index: Market Vectors® US Business Development Companies Index (MVBIZDTG)

    Index Description: MVBIZDTG is a rules based index intended to track the overall performance of publicly traded business development companies.

  •    

    • Fund Ticker

      BIZD

    • Exchange

      NYSE Arca

    • Index Total Return Ticker

      MVBIZDTG

    • Index Provider

      Market Vectors Index Solutions

    • Total Net Assets

      $16.0M

    • Shares Outstanding

      800,000

    • Number of Holdings

      26

    • Commencement Date

      02/11/2013

  •   as of 06/17/13

  • Key Points

    • High Income Potential 

    • Only ETF Offering Pure-Play Exposure to BDCs 

    • BDCs Generate Income by Lending to, and Investing in, Private Companies that tend to be Below Investment Grade or Not Rated 

  • Yields as of 06/17/13

    • 30-Day SEC Yield1

      7.65%

    • Distribution Yield1

      4.15%

    • 12-Month Yield1

      --
     1 See Important Disclosure for definitions.

  • Fees & Expenses2

    • Management Fee

      0.40%

    • Other Expenses

      0.12%

    • Acquired Fund Fees and Expenses

      7.16%

    • Gross Expense Ratio

      7.68%

    • Fee Waivers and
      Expense Reimbursement

      (0.12)%

    • Net Expense Ratio

      7.56%
    2Expenses for BIZD are capped contractually at 0.40% until 09/01/14. Cap excludes certain expenses, such as interest and acquired fund fees and expenses. See Important Disclosure for more information.

  • Trading Information

    • Fund Ticker

      BIZD

    • Index Total Return Ticker

      MVBIZDTG

    • NAV

      BIZDNV

    • Intraday NAV (IIV)5

      BIZDIV

    • Shares Outstanding

      800,000

    • Estimated Cash

      BIZDEU

    • Total Cash

      BIZDTC

    • CUSIP

      57060U316

    • ISIN

      US57060U3169
    5See IIV Details. Source: Bloomberg

  • Prices as of 06/17/13

    TickerNAV/
    Last Price    		Avg. 30-Day
    Trading
    Volume    		Daily Change
    NAV/
    Last Price    		 YTD Change
    NAV/
    Last Price    		Premium/
    Discount    		Prem/Discount
    Distribution Charts    		NAV &
    Prem/Discount
    History    		NAV
    Price
    Chart
    BIZD $19.94
    $19.98         		12,890
    8,727
    $0.08 / +0.4%
    $0.07 / +0.4%
    		n/a
    n/a
    		$0.04
    0.20%

  • View All Indices » View All ETFs » Performance History: Average Annual Total Returns* (%)

    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/11/13
    BIZD (NAV) -4.01 -1.19 -- -- -- -- -- 0.59
    BIZD (Share Price) -3.76 -0.84 -- -- -- -- -- 1.04
    MVBIZD (Index) -3.98 -1.11 -- -- -- -- -- 0.71
    Performance Differential (NAV - Index) -0.03 -0.08 -- -- -- -- -- -0.12
    After Tax Held -- -- -- -- -- -- -- 0.14
    After Tax Sold -- -- -- -- -- -- -- 0.33
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/11/13
    BIZD (NAV) 0.59 -- -- -- -- -- -- 2.40
    BIZD (Share Price) 0.39 -- -- -- -- -- -- 2.30
    MVBIZD (Index) 0.63 -- -- -- -- -- -- 2.49
    Performance Differential (NAV - Index) -0.04 -- -- -- -- -- -- -0.09
    After Tax Held -- -- -- -- -- -- -- 2.40
    After Tax Sold -- -- -- -- -- -- -- 1.36

    *Returns less than one year are not annualized.

    The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

    The "Net Asset Value" (NAV) of a Market Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. Market Vectors ETF investors should not expect to buy or sell shares at NAV.

    The "After Tax Held" represents total return after taxes on distributions and assumes shares have not been sold. "After Tax Sold" represents total return after taxes on distributions and the sale of Fund shares. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. After-tax returns are based on NAV.

  • View All Holdings » Top 10 Holdings (%) as of 05/31/13

    Total Holdings: 26
    Holding Name
    Coupon
    		 Maturity
    Composite
    Rating
    Country†
    Currency
    		 % of Net
    Assets
    Ares Capital Corp
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 13.57
    American Capital Ltd
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 13.16
    Prospect Capital Corp
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 6.69
    Apollo Investment Corp
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 5.46
    Fifth Street Finance Corp
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 5.06
    Hercules Technology Growth Capital Inc
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 4.94
    Main Street Capital Corp
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 4.60
    Solar Capital Ltd
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 4.52
    BlackRock Kelso Capital Corp
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 4.46
    Triangle Capital Corp
    0.000
    		 01/01/1900
    NR
    U.S.
    USD
    		 4.42
    Top 10 Total (%) 66.88
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Sector Weightings (%) as of 05/31/13

    • Sector

      % of Net Assets

    • Financial

      99.9

    • Other

      0.1

    • Total

      100.0

  • Currency Exposure (%)
    as of 05/31/13

    • U.S. Dollar

      99.88

    • Other

      0.12

    • Total

      100.00

  • Domicile Weightings (%) as of 05/31/13

    • Domicile

      % of Net Assets

    • U.S.

      99.9

    • Other

      0.1

    • Total

      100.0
  • Contact Us

    Van Eck Securities
    Corporation, Distributor
    335 Madison Avenue, 19th Fl.
    New York, NY 10017
    888.MKT.VCTR
    888.658.8287
    marketvectors@vaneck.com

  • Important Disclosure

     130-Day SEC Yield is calculated as of the most recent month end, and is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons primarily among bond funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The Distribution Yield is the annual yield an investor would receive if the most recent fund distribution stayed the same going forward. The yield represents a single distribution from the fund and does not represent the total return of the fund.  The yield is calculated by annualizing the most recent distribution and dividing by the fund NAV from the as-of date. The 12-Month Yield is the yield an investor would have received if they had held the fund over the last 12 months assuming the most recent NAV. The 12-month yield is calculated by summing any income distributions over the past 12 months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past 12 months. Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included.

    2BIZD Fees & Expenses: "Other expenses"are based on estimated amounts for the current fiscal year. "Acquired fund fees and expenses" include fees and expenses incurred indirectly by the Fund as a result of investments in other investment companies, including business development companies ("BDCs"). Because acquired fund fees and expenses are not borne directly by the Fund, they will not be reflected in the expense information in the Fund’s financial statements and the information presented in the table will differ from that presented in the Fund’s financial highlights included in the Fund’s reports to shareholders, when available. Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.40% of the Fund’s average daily net assets per year until at least September 1, 2014. During such time, the expense limitation is expected to continue until the Fund’s Board of Trustees acts to discontinue all or a portion of such expense limitation.

    3Morningstar Ratings: ©2013 Morningstar, Inc. All Rights Reserved. Not applicable at this time.

    4IIV is an abbreviation for An ETF's intraday indicative value; it is an estimated fair value of its holdings based on the most recent prices of its underlying securities and other assets. Intraday values are typically updated every 15 seconds and should closely approximate the net asset value (NAV) of an ETF throughout the trading day. ETF intraday values are calculated by an exchange (e.g., the NYSE Arca) and are distributed through quote services.

    5The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sector; as an Index, it is unmanaged and is not a security in which investments can be made.

    Business Development Companies (BDC) invest in private companies and thinly traded securities of public companies, including debt instruments of such companies. Generally, little public information exists for private and thinly traded companies and there is a risk that investors may not be able to make fully informed investment decisions. Less mature and smaller private companies involve greater risk than well-established and larger publicly-traded companies. Investing in debt involves risk that the issuer may default on its payments or declare bankruptcy and debt may not be rated by a credit rating agency. Many debt investments in which a BDC may invest will not be rated by a credit rating agency and will be below investment-grade quality. These investments have predominantly speculative characteristics with respect to an issuer’s capacity to make payments of interest and principal. BDCs may not generate income at all times. Additionally, limitations on asset mix and leverage may prohibit the way that BDCs raise capital. The Fund and its affiliates may not own in excess of 25% of a BDC’s outstanding voting securities which may limit the Fund’s ability to fully replicate its index. The Fund is currently concentrated in the financial services sector and may depend, to a greater extent, on the overall condition of the sector. The Fund may loan its securities, which may subject it to additional credit and counterparty risk.

    Market Vectors US Business Development Companies Index (the “Index”) is 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. Market Vectors BDC Income ETF (the “Fund”) is 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 Fund.

    The “Net Asset Value” (NAV) of a Market Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF’s intraday trading value. Market Vectors ETF investors should not expect to buy or sell shares at NAV.

    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. You will incur brokerage expenses when trading Fund shares in the secondary market. Past performance is no guarantee of future results. Returns for actual Fund investments may differ from what is shown because of differences in timing, the amount invested, and fees and expenses.

    Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 888.MKT.VCTR or visit vaneck.com/etf. Please read the prospectus and summary prospectus carefully before investing. 

    Not FDIC Insured — No Bank Guarantee — May Lose Value  

© 2013 Van Eck Securities Corporation. All rights reserved.