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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 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
    • Index Total Return Ticker

      GBIEMCOR
    • Index Provider

      J.P. Morgan
    • Total Net Assets

      $827.3M
    • Shares Outstanding

      34,800,000
    • Number of Holdings

      208
    • Commencement Date

      07/22/2010
  •  
    as of 04/17/14

    • 30-Day SEC Yield1

      5.55%
    • Distribution Frequency

      Monthly
    • Gross Expense Ratio2

      0.48%
    • Net Expense Ratio2

      0.47%
    • Options

      Available
    • Preliminary NAIC Designation7

      2
    • Management Team »
    • EMLC Fact Sheet »
    1,2,7 See Important Disclosure
  • 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 04/17/14

    • 30-Day SEC Yield1

      5.55%
    • Distribution Yield1

      5.70%
    • 12-Month Yield1

      5.29%
     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

      0.47%
    2Expenses for EMLC are capped contractually at 0.47% until 09/01/14. Cap excludes certain expenses, such as interest. 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

      34,800,000
    • Estimated Cash

      EMLCEU
    • Total Cash

      EMLCTC
    • CUSIP

      57060U522
    • ISIN

      US57060U5222
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 04/16/14

    • Yield to Worst

      5.89%
    • Yield to Maturity

      5.91%
    • Effective Duration (yrs)

      4.45
    • Modified Duration (yrs)

      4.57
    • Years to Maturity

      6.88
    • Coupon

      7.15%
     4 See Important Disclosure for definitions.
  • Prices as of 04/17/14

    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 $23.77
    $23.75
    376,757
    243,212
    $0.10 / +0.4%
    $0.12 / +0.5%
    + 0.9%
    + 0.9%

    $-0.02
    -0.09%
  • 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) 2.59 1.77 1.77 -7.69 0.81 -- -- 3.08
    EMLC (Share Price) 2.51 1.43 1.43 -8.33 0.40 -- -- 2.95
    GBIEMCOR (Index) 2.71 1.53 1.53 -6.99 1.68 -- -- 4.02
    Performance Differential (NAV - Index) -0.12 0.24 0.24 -0.70 -0.87 -- -- -0.94
    After Tax Held -- -- -- -9.69 -- -- -- 1.28
    After Tax Sold -- -- -- -4.34 -- -- -- 1.70
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/22/10
    EMLC (NAV) 2.59 1.77 1.77 -7.69 0.81 -- -- 3.08
    EMLC (Share Price) 2.51 1.43 1.43 -8.33 0.40 -- -- 2.95
    GBIEMCOR (Index) 2.71 1.53 1.53 -6.99 1.68 -- -- 4.02
    Performance Differential (NAV - Index) -0.12 0.24 0.24 -0.70 -0.87 -- -- -0.94
    After Tax Held -- -- -- -9.69 -- -- -- 1.28
    After Tax Sold -- -- -- -4.34 -- -- -- 1.70
  • View All Holdings » Top 10 Holdings (%) as of 03/31/14

    Total Holdings: 207
    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
    3.70
    Chile Government International Bond
    5.500
    08/05/2020
    AA-
    Chile
    CLP
    3.00
    Eskom Holdings Ltd
    9.250
    04/20/2018
    NR
    South Africa
    ZAR
    2.82
    Banco Do Brasil Sa/Cayman
    9.750
    07/18/2017
    NR
    Brazil
    BRL
    1.72
    Inter-American Development Bank
    8.000
    01/26/2016
    AAA
    Supra- National
    MXN
    1.72
    Cia Energetica De Sao Paulo
    15.081
    01/15/2015
    NR
    Brazil
    BRL
    1.54
    Poland Government Bond
    5.500
    04/25/2015
    A
    Poland
    PLN
    1.51
    Transnet Ltd
    10.800
    11/06/2023
    NR
    South Africa
    ZAR
    1.38
    Philippine Government International Bon
    6.250
    01/14/2036
    BBB-
    Philippines
    PHP
    1.36
    Poland Government Bond
    5.250
    10/25/2020
    A
    Poland
    PLN
    1.36
    Top 10 Total (%) 20.11

    †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 03/31/14

    • Country

      % of Net Assets
    • BRAZIL

      9.8
    • POLAND

      9.8
    • SOUTH AFRICA

      9.4
    • MALAYSIA

      8.6
    • RUSSIA

      8.0
    • TURKEY

      7.4
    • INDONESIA

      6.6
    • THAILAND

      6.6
    • MEXICO

      5.4
    • HUNGARY

      4.5
    • SUPRA-NATIONAL

      3.8
    • COLOMBIA

      3.3
    • CHILE

      3.0
    • PHILIPPINES

      3.0
    • ROMANIA

      3.0
    • PERU

      3.0
    • NIGERIA

      2.9
    • GERMANY

      0.7
    • SWEDEN

      0.4
    • NETHERLANDS

      0.4
    • Other

      0.5
    • Total

      100.1
  • Currency Exposure (%)
    as of 03/31/14

    • Brazilian Real

      10.12
    • Mexican Peso

      9.97
    • Polish Zloty

      9.77
    • South African Rand

      9.56
    • Malaysian Ringgit

      8.60
    • Russian Ruble

      8.02
    • Turkish Lira

      7.36
    • Indonesian Rupiah

      6.59
    • Thai Baht

      6.58
    • Hungarian Forint

      4.79
    • Colombian Peso

      3.33
    • Chilean Peso

      3.00
    • Philippines Peso

      2.98
    • New Romanian Leu

      2.97
    • Peruvian New Sol

      2.97
    • Nigeria Naira

      2.94
    • Other

      0.47
    • Total

      100.02
  • Sector Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • Government

      85.5
    • Utilities

      8.6
    • Financial

      3.5
    • Industrial

      1.8
    • Consumer, Non-cyclical

      0.1
    • Other

      0.5
    • Total

      100.0
  • Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    Investment Grade AAA 4.53
    AA 3.37
    A 17.88
    BBB 43.22
    Non-Investment Grade BB 9.33
    Total Investment Grade 69.00
    Total Non-Investment Grade 9.33
    Not rated 21.66
    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 03/31/14

    Average Portfolio Maturity: 6.90 Years