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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 10/01/14

    • 30-Day SEC Yield1

      4.32%
    • Total Net Assets

      $887.1M
    • Number of Holdings

      239
    • Options

      Available
    • Gross Expense Ratio2

      0.52%
    • Net Expense Ratio/TER2

      0.47%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      10/31/2014
  • 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 10/01/14

    • 30-Day SEC Yield1

      4.32%
    • Distribution Yield1

      5.30%
    • 12-Month Yield1

      6.20%
     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

      39,200,000
    • Estimated Cash

      EMLCEU
    • Total Cash

      EMLCTC
    • CUSIP

      57060U522
    • ISIN

      US57060U5222
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 10/01/14

    • Yield to Worst

      4.63%
    • Yield to Maturity

      4.64%
    • Effective Duration (yrs)

      2.38
    • Modified Duration (yrs)

      2.42
    • Years to Maturity

      3.36
    • Coupon

      8.23%
     4 See Important Disclosure for definitions.
  • Prices as of 10/01/2014

    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 $22.63
    $22.69
    283,889
    494,238
    $-0.10 / -0.42%
    $-0.11 / -0.48%
    - 1.7%
    - 1.4%

    $0.06
    0.27%
  • 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) 0.20 0.31 5.46 7.54 0.15 -- -- 3.65
    EMLC (Share Price) 0.37 0.65 5.68 8.29 -0.04 -- -- 3.68
    GBIEMCOR (Index) 0.38 0.47 5.34 8.48 0.95 -- -- 4.54
    Performance Differential (NAV - Index) -0.18 -0.16 0.12 -0.94 -0.80 -- -- -0.89
    After Tax Held -- -- -- 5.15 -- -- -- 1.84
    After Tax Sold -- -- -- 4.23 -- -- -- 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 08/31/14

    Total Holdings: 236
    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
    3.14
    Chile Government International Bond
    5.500
    08/05/2020
    AA-
    Chile
    CLP
    2.90
    Eskom Holdings Ltd
    9.250
    04/20/2018
    NR
    South Africa
    ZAR
    2.59
    Poland Government Bond
    5.750
    09/23/2022
    A
    Poland
    PLN
    1.60
    Banco Do Brasil Sa/Cayman
    9.750
    07/18/2017
    NR
    Brazil
    BRL
    1.58
    Inter-American Development Bank
    8.000
    01/26/2016
    AAA
    Supra- National
    MXN
    1.57
    Cia Energetica De Sao Paulo
    9.750
    01/15/2015
    NR
    Brazil
    BRL
    1.48
    Philippine Government International Bon
    6.250
    01/14/2036
    BBB-
    Philippines
    PHP
    1.37
    Transnet Ltd
    10.800
    11/06/2023
    NR
    South Africa
    ZAR
    1.28
    Poland Government Bond
    5.250
    10/25/2020
    A
    Poland
    PLN
    1.19
    Top 10 Total (%)18.70

    †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 08/31/14

    • Country

      % of Net Assets
    • POLAND

      9.9
    • BRAZIL

      9.8
    • SOUTH AFRICA

      9.2
    • MALAYSIA

      8.4
    • TURKEY

      7.9
    • MEXICO

      6.4
    • RUSSIA

      6.4
    • INDONESIA

      6.2
    • THAILAND

      5.8
    • COLOMBIA

      5.6
    • HUNGARY

      4.0
    • SUPRA-NATIONAL

      3.6
    • NIGERIA

      3.0
    • PERU

      3.0
    • PHILIPPINES

      2.9
    • ROMANIA

      2.9
    • CHILE

      2.9
    • GERMANY

      0.7
    • NETHERLANDS

      0.3
    • FINLAND

      0.0
    • Other

      0.9
  • Currency Exposure (%)
    as of 08/31/14

    • Brazilian Real

      10.26
    • Mexican Peso

      10.18
    • Polish Zloty

      9.86
    • South African Rand

      9.30
    • Malaysian Ringgit

      8.39
    • Turkish Lira

      8.04
    • Russian Ruble

      6.35
    • Indonesian Rupiah

      6.20
    • Thai Baht

      5.83
    • Colombian Peso

      5.62
    • Hungarian Forint

      4.28
    • Nigeria Naira

      3.01
    • Peruvian New Sol

      2.95
    • Philippines Peso

      2.95
    • New Romanian Leu

      2.94
    • Chilean Peso

      2.90
    • Other

      0.94
    • Total

      100.00
  • Sector Weightings (%)
    as of 08/31/14

    • Sector

      % of Net Assets
    • Government

      86.2
    • Utilities

      7.7
    • Financial

      3.2
    • Industrial

      1.6
    • Consumer, Non-cyclical

      0.1
    • Other

      1.1
  • Credit Quality (%)
    as of 08/31/14

    Composite % of Net Assets
    Investment Grade AAA 4.15
    AA 3.25
    A 20.14
    BBB 38.46
    Non-Investment Grade BB 7.75
    Total Investment Grade 65.99
    Total Non-Investment Grade 7.75
    Not rated 26.25
    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 08/31/14

    Average Portfolio Maturity: 6.95 Years