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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 11/25/14

    • 30-Day SEC Yield1

      4.03%
    • Total Net Assets

      $924.5M
    • Number of Holdings

      238
    • Options

      Available
    • Gross Expense Ratio2

      0.52%
    • Net Expense Ratio/TER2

      0.47%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      11/28/2014
  • 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 11/25/14

    • 30-Day SEC Yield1

      4.03%
    • Distribution Yield1

      5.30%
    • 12-Month Yield1

      5.69%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.35%
    • Other Expenses

      0.17%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.52%
    • Fee Waivers and
      Expense Reimbursement

      -0.05%
    • Net Expense Ratio/TER2

      0.47%
    2Expenses for EMLC are capped contractually at 0.47% until 09/01/15. 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

      40,800,000
    • Estimated Cash

      EMLCEU
    • Total Cash

      EMLCTC
    • CUSIP

      57060U522
    • ISIN

      US57060U5222
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 11/25/14

    • Yield to Worst

      6.11%
    • Yield to Maturity

      6.13%
    • Effective Duration (yrs)

      4.60
    • Modified Duration (yrs)

      4.70
    • Years to Maturity

      6.90
    • Coupon

      7.03%
     4 See Important Disclosure for definitions.
  • Prices as of 11/25/2014

    NAV/
    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 $22.66
    $22.71
    274,229
    202,369
    $0.02 / +0.09%
    $0.04 / +0.18%
    - 1.6%
    - 1.3%

    $0.05
    0.22%
  • 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) 1.23 -3.37 1.70 -2.88 0.69 -- -- 2.63
    EMLC (Share Price) 0.92 -3.28 1.84 -2.24 0.74 -- -- 2.64
    GBIEMCOR (Index) 1.52 -3.04 1.76 -2.20 1.47 -- -- 3.51
    Performance Differential (NAV - Index) -0.29 -0.33 -0.06 -0.68 -0.78 -- -- -0.88
    After Tax Held -- -- -- -5.12 -- -- -- 0.82
    After Tax Sold -- -- -- -1.62 -- -- -- 1.34
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/22/10
    EMLC (NAV) -4.74 -5.42 0.46 -1.33 2.21 -- -- 2.39
    EMLC (Share Price) -4.52 -4.88 0.91 -0.89 2.33 -- -- 2.47
    GBIEMCOR (Index) -4.85 -5.36 0.24 -1.16 2.85 -- -- 3.21
    Performance Differential (NAV - Index) 0.11 -0.06 0.22 -0.17 -0.64 -- -- -0.82
    After Tax Held -- -- -- -3.57 -- -- -- 0.59
    After Tax Sold -- -- -- -0.72 -- -- -- 1.16
  • View All Holdings »Top 10 Holdings (%)as of 10/31/14

    Total Holdings: 238
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Chile Government International Bond
    5.500
    08/05/2020
    AA-
    Chile
    CLP
    3.07
    Rushydro Jsc Via Rushydro Finance Ltd
    7.875
    10/28/2015
    BB+
    Russian Federation
    RUB
    2.41
    Eskom Holdings Ltd
    9.250
    04/20/2018
    NR
    South Africa
    ZAR
    2.32
    Poland Government Bond
    5.750
    09/23/2022
    A
    Poland
    PLN
    2.01
    Inter-American Development Bank
    8.000
    01/26/2016
    AAA
    Supra- National
    MXN
    1.46
    Banco Do Brasil Sa/Cayman
    9.750
    07/18/2017
    NR
    Brazil
    BRL
    1.38
    Cia Energetica De Sao Paulo
    9.750
    01/15/2015
    NR
    Brazil
    BRL
    1.32
    Philippine Government International Bon
    6.250
    01/14/2036
    BBB-
    Philippines
    PHP
    1.30
    Colombian Tes
    10.000
    07/24/2024
    NR
    Colombia
    COP
    1.18
    Transnet Ltd
    10.800
    11/06/2023
    NR
    South Africa
    ZAR
    1.17
    Top 10 Total (%)17.62

    †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 10/31/14

    • Country

      % of Net Assets
    • POLAND

      9.6
    • TURKEY

      8.7
    • SOUTH AFRICA

      8.7
    • BRAZIL

      8.3
    • MALAYSIA

      8.1
    • INDONESIA

      6.5
    • COLOMBIA

      6.5
    • MEXICO

      6.2
    • THAILAND

      6.0
    • RUSSIA

      5.4
    • HUNGARY

      4.4
    • SUPRA-NATIONAL

      3.4
    • CHILE

      3.1
    • PERU

      3.0
    • PHILIPPINES

      3.0
    • ROMANIA

      3.0
    • NIGERIA

      2.9
    • GERMANY

      0.7
    • NETHERLANDS

      0.3
    • FINLAND

      0.0
    • Other

      2.4
  • Currency Exposure (%)
    as of 10/31/14

    • Mexican Peso

      9.68
    • Polish Zloty

      9.61
    • Turkish Lira

      8.79
    • South African Rand

      8.78
    • Brazilian Real

      8.67
    • Malaysian Ringgit

      8.12
    • Indonesian Rupiah

      6.51
    • Colombian Peso

      6.46
    • Thai Baht

      5.98
    • Russian Ruble

      5.41
    • Hungarian Forint

      4.69
    • Chilean Peso

      3.07
    • Peruvian New Sol

      3.00
    • Philippines Peso

      2.97
    • New Romanian Leu

      2.96
    • Nigeria Naira

      2.87
    • Other

      2.41
    • Total

      99.98
  • Sector Weightings (%)
    as of 10/31/14

    • Sector

      % of Net Assets
    • Government

      86.6
    • Utilities

      6.6
    • Financial

      2.9
    • Industrial

      1.5
    • Other

      2.4
  • Credit Quality (%)
    as of 10/31/14

    Composite % of Net Assets
    Investment Grade AAA 3.98
    AA 3.38
    A 19.26
    BBB 38.05
    Non-Investment Grade BB 7.41
    Total Investment Grade 64.67
    Total Non-Investment Grade 7.41
    Not rated 27.92
    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 10/31/14

    Average Portfolio Maturity: 6.93 Years