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EM Local Currency Bond ETF EMLC

  • Full Name: Market Vectors®
    Emerging Markets Local Currency Bond ETF (EMLC)

    Management Style: Sampling

    Underlying Index: The J.P. Morgan GBI-EMG Core Index (GBIEMCOR)

    Index Provider: J.P. Morgan

    Index Description: GBIEMCOR provides direct exposure to local currency bonds issued by emerging market governments. As such, the Fund is subject to the risks of investing in emerging market debt securities.

  •  
      

    • Fund Ticker

      EMLC
    • Exchange

      NYSE Arca
    • Commencement

      07/22/2010
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      GBIEMCOR
    • Index Rebalancing

      Monthly
    • Preliminary NAIC
      Designation7

      2
  •  
    as of 08/21/14

    • 30-Day SEC Yield1

      4.60%
    • Total Net Assets

      $889.3M
    • Number of Holdings

      235
    • Options

      Available
    • Gross Expense Ratio2

      0.48%
    • Net Expense Ratio/TER2

      0.47%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      08/29/2014
  • Key Points

    • Seeks to Replicate the J.P. Morgan GBI-EMG Core Index 

    • Provides Exposure to Local Bond Markets in Emerging Economies 

    • Emerging Markets Currently Have Higher Yields than Developed Markets and Potential for Currency Appreciation
  • Yields
    as of 08/21/14

    • 30-Day SEC Yield1

      4.60%
    • Distribution Yield1

      5.35%
    • 12-Month Yield1

      5.40%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.35%
    • Other Expenses

      0.13%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.48%
    • Fee Waivers and
      Expense Reimbursement

      -0.01%
    • Net Expense Ratio/TER2

      0.47%
    2Expenses for EMLC are capped contractually at 0.47% until 09/01/14. Cap excludes certain expenses, such as interest. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio". See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      EMLC
    • Index Total Return Ticker

      GBIEMCOR
    • NAV

      EMLCNV
    • Intraday NAV (IIV)5

      EMLCIV
    • Shares Outstanding

      37,200,000
    • Estimated Cash

      EMLCEU
    • Total Cash

      EMLCTC
    • CUSIP

      57060U522
    • ISIN

      US57060U5222
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 08/21/14

    • Yield to Worst

      5.05%
    • Yield to Maturity

      5.06%
    • Effective Duration (yrs)

      4.58
    • Modified Duration (yrs)

      4.68
    • Years to Maturity

      6.94
    • Coupon

      7.03%
     4 See Important Disclosure for definitions.
  • Prices as of 08/21/2014

    TickerNAV/
    Last Price
    Volume
    30-Day Avg./
    Last Trading Day
    Daily Change
    NAV/
    Last Price
    YTD Change
    NAV/
    Last Price
    Premium/
    Discount
    Prem/Discount
    Distribution Charts
    NAV &
    Prem/Discount
    History
    NAV
    Chart
    EMLC $23.91
    $23.91
    278,944
    181,127
    $0.02 / +0.07%
    $0.03 / +0.13%
    + 3.7%
    + 3.8%

    $0.00
    0.02%
  • 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
    07/22/10
    EMLC (NAV) -0.91 2.31 5.25 3.40 0.15 -- -- 3.68
    EMLC (Share Price) -0.74 2.45 5.30 3.63 0.00 -- -- 3.66
    GBIEMCOR (Index) -0.92 2.31 4.94 3.94 0.93 -- -- 4.53
    Performance Differential (NAV - Index) 0.01 0.00 0.31 -0.54 -0.78 -- -- -0.85
    After Tax Held -- -- -- 1.03 -- -- -- 1.82
    After Tax Sold -- -- -- 1.88 -- -- -- 2.10
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/22/10
    EMLC (NAV) 1.03 4.37 6.22 4.40 0.94 -- -- 4.00
    EMLC (Share Price) 1.04 4.60 6.09 5.66 0.74 -- -- 3.94
    GBIEMCOR (Index) 1.02 4.32 5.92 4.81 1.72 -- -- 4.88
    Performance Differential (NAV - Index) 0.01 0.05 0.30 -0.41 -0.78 -- -- -0.88
    After Tax Held -- -- -- 2.02 -- -- -- 2.14
    After Tax Sold -- -- -- 2.43 -- -- -- 2.35
  • View All Holdings »Top 10 Holdings (%)as of 07/31/14

    Total Holdings: 230
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Rushydro Jsc Via Rushydro Finance Ltd
    7.875
    10/28/2015
    BB+
    Russian Federation
    RUB
    3.33
    Chile Government International Bond
    5.500
    08/05/2020
    AA-
    Chile
    CLP
    3.02
    Eskom Holdings Ltd
    9.250
    04/20/2018
    NR
    South Africa
    ZAR
    2.59
    Banco Do Brasil Sa/Cayman
    9.750
    07/18/2017
    NR
    Brazil
    BRL
    1.64
    Inter-American Development Bank
    8.000
    01/26/2016
    AAA
    Supra- National
    MXN
    1.58
    Cia Energetica De Sao Paulo
    9.750
    01/15/2015
    NR
    Brazil
    BRL
    1.56
    Philippine Government International Bon
    6.250
    01/14/2036
    BBB-
    Philippines
    PHP
    1.42
    Poland Government Bond
    5.750
    09/23/2022
    A
    Poland
    PLN
    1.37
    Transnet Ltd
    10.800
    11/06/2023
    NR
    South Africa
    ZAR
    1.26
    Poland Government Bond
    5.250
    10/25/2020
    A
    Poland
    PLN
    1.22
    Top 10 Total (%)18.99

    †See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Country Weightings (%)
    as of 07/31/14

    • Country

      % of Net Assets
    • POLAND

      9.8
    • BRAZIL

      9.7
    • SOUTH AFRICA

      9.1
    • MALAYSIA

      8.7
    • TURKEY

      7.8
    • RUSSIA

      6.7
    • INDONESIA

      6.3
    • MEXICO

      6.1
    • THAILAND

      5.9
    • COLOMBIA

      4.9
    • HUNGARY

      4.4
    • SUPRA-NATIONAL

      3.7
    • PHILIPPINES

      3.1
    • NIGERIA

      3.0
    • PERU

      3.0
    • CHILE

      3.0
    • ROMANIA

      3.0
    • GERMANY

      0.7
    • NETHERLANDS

      0.4
    • FINLAND

      0.0
    • Other

      0.7
  • Currency Exposure (%)
    as of 07/31/14

    • Brazilian Real

      10.08
    • Mexican Peso

      9.89
    • Polish Zloty

      9.85
    • South African Rand

      9.27
    • Malaysian Ringgit

      8.66
    • Turkish Lira

      7.91
    • Russian Ruble

      6.67
    • Indonesian Rupiah

      6.34
    • Thai Baht

      5.93
    • Colombian Peso

      4.93
    • Hungarian Forint

      4.64
    • Philippines Peso

      3.06
    • Nigeria Naira

      3.04
    • Peruvian New Sol

      3.03
    • Chilean Peso

      3.02
    • New Romanian Leu

      3.00
    • Other

      0.70
    • Total

      100.02
  • Sector Weightings (%)
    as of 07/31/14

    • Sector

      % of Net Assets
    • Government

      86.1
    • Utilities

      8.0
    • Financial

      3.3
    • Industrial

      1.6
    • Consumer, Non-cyclical

      0.1
    • Other

      0.9
  • Credit Quality (%)
    as of 07/31/14

    Composite % of Net Assets
    Investment Grade AAA 4.19
    AA 3.37
    A 19.52
    BBB 38.55
    Non-Investment Grade BB 8.30
    Total Investment Grade 65.62
    Total Non-Investment Grade 8.30
    Not rated 26.08
    Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion.
  • Maturity (%) as of 07/31/14

    Average Portfolio Maturity: 8.20 Years