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EM High Yield Bond ETF HYEM

  • Full Name: Market Vectors®
    Emerging Markets High Yield Bond ETF (HYEM)

    Management Style: Sampling

    Underlying Index: The BofA Merrill Lynch High Yield US Emerging Markets Liquid Corporate Plus Index (EMHY)

    Index Provider: BofA Merrill Lynch

    Index Description: EMHY is comprised of U.S. dollar-denominated bonds issued by non-sovereign emerging markets issuers that are rated below investment grade and issued in the major domestic or eurobond markets.

  •  
      

    • Fund Ticker

      HYEM
    • Exchange

      NYSE Arca
    • Commencement

      05/08/2012
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      EMHY
    • Index Rebalancing

      Monthly
    • Preliminary NAIC
      Designation10

      3
  •  
    as of 11/20/14

    • 30-Day SEC Yield1

      7.56%
    • Total Net Assets

      $425.9M
    • Number of Holdings

      379
    • Options

      Expected
    • Gross Expense Ratio2

      0.53%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      11/28/2014
    1, 2, 10 See Important Disclosure
  • Key Points

    • Focuses Solely on Non-Sovereign Segment of the High Yield EM Bond Market 7 

    • HY EM Corporate Bonds Currently Have Higher Yields than HY EM Sovereign and HY U.S. Corporate Bonds8 

    • HY EM Corporate Bonds Historically Have Had Lower Default Rates than HY U.S. Corporate Bonds 
  • Yields
    as of 11/20/14

    • 30-Day SEC Yield1

      7.56%
    • Distribution Yield1

      6.59%
    • 12-Month Yield1

      6.26%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      0.13%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.53%
    • Fee Waivers and
      Expense Reimbursement

      -0.13%
    • Net Expense Ratio/TER2

      0.40%
    2Expenses for HYEM are capped contractually at 0.40% 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

      HYEM
    • Index Total Return Ticker

      EMHY
    • NAV

      HYEMNV
    • Intraday NAV (IIV)5

      HYEMIV
    • Shares Outstanding

      17,200,000
    • Estimated Cash

      HYEMEU
    • Total Cash

      HYEMTC
    • CUSIP

      57061R403
    • ISIN

      US57061R4039
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 11/20/14

    • Yield to Worst

      8.55%
    • Yield to Maturity

      8.73%
    • Effective Duration (yrs)

      3.91
    • Modified Duration (yrs)

      4.13
    • Years to Maturity

      5.46
    • Coupon

      7.15%
     4 See Important Disclosure for definitions.
  • Prices as of 11/20/2014

    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
    HYEM $24.76
    $24.77
    68,125
    67,663
    $-0.05 / -0.20%
    $-0.05 / -0.20%
    + 0.4%
    + 1.4%

    $0.01
    0.04%
  • 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
    05/08/12
    HYEM (NAV) 0.43 -1.35 5.77 4.82 -- -- -- 6.69
    HYEM (Share Price) 0.07 -1.12 6.71 4.82 -- -- -- 6.62
    EMHY (Index) 0.43 -1.44 5.78 5.52 8.92 -- -- 7.39
    Performance Differential (NAV - Index) 0.00 0.09 -0.01 -0.70 -- -- -- -0.70
    After Tax Held -- -- -- 2.10 -- -- -- 4.15
    After Tax Sold -- -- -- 2.69 -- -- -- 4.02
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    05/08/12
    HYEM (NAV) -1.58 -2.15 5.32 7.19 -- -- -- 6.75
    HYEM (Share Price) -1.46 -1.89 6.63 7.57 -- -- -- 6.83
    EMHY (Index) -1.61 -2.22 5.32 8.03 11.96 -- -- 7.47
    Performance Differential (NAV - Index) 0.03 0.07 0.00 -0.84 -- -- -- -0.72
    After Tax Held -- -- -- 4.42 -- -- -- 4.21
    After Tax Sold -- -- -- 4.03 -- -- -- 4.06
  • View All Holdings »Top 10 Holdings (%)as of 10/31/14

    Total Holdings: 380
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Petroleos De Venezuela Sa
    8.500
    11/02/2017
    B-
    Venezuela
    USD
    1.23
    Majapahit Holding Bv
    7.750
    01/20/2020
    BB+
    Indonesia
    USD
    1.12
    Petroleos De Venezuela Sa
    5.375
    04/12/2027
    B-
    Venezuela
    USD
    0.89
    Vimpel Communications Via Vip Finance I
    9.125
    04/30/2018
    BB-
    Netherlands
    USD
    0.88
    Myriad International Holdings Bv
    6.000
    07/18/2020
    BB+
    South Africa
    USD
    0.81
    Vedanta Resources Plc
    9.500
    07/18/2018
    BB-
    Bahamas
    USD
    0.79
    Petroleos De Venezuela Sa
    5.500
    04/12/2037
    B-
    Venezuela
    USD
    0.76
    Vtr Finance Bv
    6.875
    01/15/2024
    B+
    United Kingdom
    USD
    0.76
    Banco Do Brasil Sa/Cayman
    8.500
    10/29/2049
    NR
    Brazil
    USD
    0.74
    Csn Resources Sa
    6.500
    07/21/2020
    BB+
    Brazil
    USD
    0.73
    Top 10 Total (%)8.71

    †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
    • CHINA

      9.4
    • BRAZIL

      8.1
    • MEXICO

      7.7
    • VENEZUELA

      7.6
    • RUSSIA

      7.1
    • INDONESIA

      4.4
    • COLOMBIA

      3.6
    • SOUTH AFRICA

      3.4
    • UNITED KINGDOM

      3.1
    • BERMUDA

      3.1
    • TURKEY

      3.1
    • NETHERLANDS

      3.0
    • LUXEMBOURG

      3.0
    • UKRAINE

      2.9
    • ARGENTINA

      2.6
    • UAE

      2.4
    • BAHAMAS

      2.1
    • INDIA

      2.1
    • U.S.

      1.6
    • KAZAKHSTAN

      1.5
    • Other

      18.4
  • Currency Exposure (%)
    as of 10/31/14

    • U.S. Dollar

      99.33
    • Other

      0.67
    • Total

      100.00
  • Sector Weightings (%)
    as of 10/31/14

    • Sector

      % of Net Assets
    • Financial

      33.8
    • Energy

      15.2
    • Communications

      11.7
    • Basic Materials

      11.3
    • Industrial

      8.5
    • Utilities

      6.2
    • Consumer, Non-cyclical

      5.0
    • Consumer, Cyclical

      4.0
    • Government

      2.5
    • Technology

      0.5
    • Diversified

      0.5
    • Other

      0.7
  • Credit Quality (%)
    as of 10/31/14

    Composite % of Net Assets
    Investment Grade BBB 0.99
    Non-Investment Grade BB 54.12
    B 30.37
    CCC 6.82
    CC 0.17
    DD+ --
    Total Investment Grade 0.99
    Total Non-Investment Grade 91.48
    Not rated 7.52
    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: 5.49 Years