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Investment Grade Floating Rate ETF FLTR

  • Full Name: Market Vectors®
    Investment Grade Floating Rate ETF (FLTR®)

    Management Style: Sampling

    Underlying Index: The Market Vectors® US Investment Grade Floating Rate Index (MVFLTR)

    Index Provider: Market Vectors Index Solutions

    Index Description: MVFLTR consists of U.S. dollar-denominated floating rate notes issued by corporate issuers and rated investment grade by at least one of the three rating services: Moody’s, S&P or Fitch. 

  •  
      

    • Fund Ticker

      FLTR
    • Exchange

      NYSE Arca
    • Commencement

      04/25/2011
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      MVFLTR
    • Index Rebalancing

      Monthly
    • Preliminary NAIC
      Designation8

      2
  •  
    as of 05/04/15

    • 30-Day SEC Yield1

      0.54%
    • Total Net Assets

      $99.7M
    • Number of Holdings

      177
    • Options

      Expected
    • Gross Expense Ratio2

      0.54%
    • Net Expense Ratio/TER2

      0.14%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      05/29/2015
    1,2,8 See Important Disclosure
  • Morningstar™ Ratings3
    as of 3/31/15

    Category Overall 3 Year 5 Year
    Ultrashort Bond
         
    5 stars of 106 Funds
         
    5 stars of 106 Funds
    --
  • Key Points

    • Potential to Benefit from Rising Rates7
      Floating rate notes have variable coupons that reset periodically

    • Investment Grade Credit Quality
      Underlying index is comprised of a non-leveraged portfolio of investment grade floating rate corporate bonds

    • Short Duration and Income Potential
      Floating rate notes may offer higher yields than other short duration instruments
  • Yields
    as of 05/04/15

    • 30-Day SEC Yield1

      0.54%
    • Distribution Yield1

      0.64%
    • 12-Month Yield1

      0.63%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.35%
    • Other Expenses

      0.19%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.54%
    • Fee Waivers and
      Expense Reimbursement

      -0.40%
    • Net Expense Ratio/TER2

      0.14%
    2Expenses for FLTR are capped contractually at 0.14% 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

      FLTR
    • Index Total Return Ticker

      MVFLTR
    • NAV

      FLTRNV
    • Intraday NAV (IIV)5

      FLTRIV
    • Shares Outstanding

      3,700,000
    • Estimated Cash

      FLTREU
    • Total Cash

      FLTRTC
    • CUSIP

      57060U514
    • ISIN

      US57060U5149
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 05/04/15

    • Yield to Worst

      0.73%
    • Yield to Maturity

      0.73%
    • Effective Duration (yrs)

      0.12
    • Modified Duration (yrs)

      0.15
    • Spread Duration (yrs)

      2.44
    • Years to Maturity

      2.54
    • Coupon

      0.87%
     4 See Important Disclosure for definitions.
  • Prices as of 05/04/15

    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
    FLTR $24.93
    $24.90
    27,582
    5,473
    $0.00 / +0.00%
    $-0.01 / -0.03%
    +0.4%
    +0.1%
    $-0.03
    -0.10%
  • 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
    04/25/11
    FLTR (NAV) 0.09 0.36 0.36 0.42 1.67 -- -- 0.90
    FLTR (Share Price) -0.03 -0.08 -0.08 0.18 2.24 -- -- 0.83
    MVFLTR (Index) 0.14 0.32 0.32 0.75 2.08 -- -- 1.37
    Performance Differential (NAV - Index) -0.05 0.04 0.04 -0.33 -0.41 -- -- -0.47
    After Tax Held -- -- -- 0.14 -- -- -- 0.59
    After Tax Sold -- -- -- 0.24 -- -- -- 0.56
    Quarter End as of 03/31/15
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    04/25/11
    FLTR (NAV) 0.09 0.36 0.36 0.42 1.67 -- -- 0.90
    FLTR (Share Price) -0.03 -0.08 -0.08 0.18 2.24 -- -- 0.83
    MVFLTR (Index) 0.14 0.32 0.32 0.75 2.08 -- -- 1.37
    Performance Differential (NAV - Index) -0.05 0.04 0.04 -0.33 -0.41 -- -- -0.47
    After Tax Held -- -- -- 0.14 -- -- -- 0.59
    After Tax Sold -- -- -- 0.24 -- -- -- 0.56
  • View All Holdings »Top 10 Holdings (%)as of 03/31/15

    Total Holdings: 179
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Jpmorgan Chase & Co
    1.156
    01/25/2018
    A
    U.S.
    USD
    2.95
    Wachovia Corp
    0.541
    06/15/2017
    A+
    U.S.
    USD
    2.60
    Verizon Communications Inc
    0.664
    06/09/2017
    BBB+
    U.S.
    USD
    2.55
    Goldman Sachs Group Inc/The
    0.715
    03/22/2016
    A-
    U.S.
    USD
    2.13
    Bear Stearns Cos Llc/The
    0.652
    11/21/2016
    A
    U.S.
    USD
    1.80
    Citigroup Inc
    1.957
    05/15/2018
    BBB+
    U.S.
    USD
    1.73
    Goldman Sachs Group Inc/The
    1.455
    04/30/2018
    A-
    U.S.
    USD
    1.68
    Wells Fargo & Co
    0.887
    04/23/2018
    A+
    U.S.
    USD
    1.62
    Toronto-Dominion Bank/The
    0.805
    04/30/2018
    AA
    Canada
    USD
    1.50
    Bank Of America Corp
    1.293
    01/15/2019
    BBB+
    U.S.
    USD
    1.38
    Top 10 Total (%)19.94

    †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 03/31/15

    • Country

      % of Net Assets
    • U.S.

      60.4
    • CANADA

      6.8
    • AUSTRALIA

      6.6
    • NETHERLANDS

      4.1
    • JAPAN

      4.1
    • FRANCE

      3.7
    • SWITZERLAND

      2.7
    • UNITED KINGDOM

      2.6
    • GERMANY

      2.0
    • CHINA

      1.6
    • BRAZIL

      1.5
    • SOUTH KOREA

      1.2
    • NORWAY

      1.2
    • SWEDEN

      0.7
    • SPAIN

      0.7
    • MEXICO

      0.2
    • Other

      0.0
  • Currency Exposure (%)
    as of 03/31/15

    • U.S. Dollar

      100.05
    • Other

      -0.05
  • Sector Weightings (%) as of 03/31/15

    • Sector

      % of Net Assets
    • Financial

      71.3
    • Energy

      8.0
    • Technology

      7.3
    • Communications

      6.0
    • Consumer, Non-cyclical

      4.1
    • Consumer, Cyclical

      2.3
    • Basic Materials

      0.8
    • Utilities

      0.3
    • Other

      0.0
  • Credit Quality (%)
    as of 03/31/15

    Composite % of Net Assets
    Investment Grade AAA 1.20
    AA 28.52
    A 51.22
    BBB 16.86
    Total Investment Grade 97.80
    Not Rated 2.20
    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 03/31/15

    Average Portfolio Maturity: 2.61 Years