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Pre-Refunded Municipal Index ETF PRB

  • Full Name: Market Vectors®
    Pre-Refunded Municipal Index ETF (PRB®)

    Management Style: Sampling

    Underlying Index: The Barclays Municipal Pre-Refunded Treasury-Escrowed Index (LMPETR)

    Index Provider: Barclays

    Index Description: LMPETR is a market value weighted Index comprised of pre-refunded and/or escrowed-to-maturity municipal bonds, provided that the collateral in the escrow account is comprised strictly of obligations of, and carry the full faith and credit of, the U.S. Treasury. To be included in the Index, bonds must have an explicit or implicit credit rating of AAA.

  •  
      

    • Fund Ticker

      PRB
    • Exchange

      NYSE Arca
    • Commencement

      02/02/2009
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMPETR
    • Index Rebalancing

      Monthly
  •  
    as of 10/23/14

    • 30-Day SEC Yield1

      0.40%
    • Total Net Assets

      $27.2M
    • Number of Holdings

      63
    • Options

      Expected
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      10/31/2014
  • Key Points

    • Tax-Free Yields with the Security of Treasuries
      Yields typically exceeding those of Treasuries on taxable-equivalent basis, and income generally exempt from federal taxes and AMT-free constituents

    • High Credit Quality and Liquidity
      Most liquid segment of municipal bond market with the highest credit quality available*

    • Limited Interest Rate Risk
      Designed to track an index of relatively short maturity municipal bonds

    • *Issuers often choose not to pay to have a pre-refunded bond re-rated by a national rating agency such as Moody’s, S&P or Fitch. Pre-refunded bonds are typically considered the highest quality available in the muni market because the collateral carries the full faith and credit of the U.S. Treasury.
  • Yields
    as of 10/23/14

    • 30-Day SEC Yield1

      0.40%
    • Distribution Yield1

      0.86%
    • 12-Month Yield1

      1.06%
    • Taxable Equivalent 30-Day SEC Yields1a

    • Federal Tax Rate of 15%

      0.47%
    • Federal Tax Rate of 25%

      0.54%
    • Federal Tax Rate of 28%

      0.56%
    • Federal Tax Rate of 33%

      0.60%
    • Federal Tax Rate of 39.6%

      0.67%
     1/1a See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.24%
    • Other Expenses

      --
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.24%
    • Fee Waivers and
      Expense Reimbursement

      --
    • Net Expense Ratio/TER2

      0.24%
    2The investment management agreement between Market Vectors ETF Trust (the “Trust”) and Van Eck Associates Corporation (the “Adviser”) provides that the Adviser will pay all expenses of the Fund, except for the fee payment under the investment management agreement, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio". 
  • Trading Information

    • Fund Ticker

      PRB
    • Index Total Return Ticker

      LMPETR
    • NAV

      PRBNV
    • Intraday NAV (IIV)5

      PRBIV
    • Shares Outstanding

      1,100,000
    • Estimated Cash

      PRBEU
    • Total Cash

      PRBTC
    • CUSIP

      57060U738
    • ISIN

      US57060U7384
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 10/23/14

    • Yield to Worst

      0.57%
    • Yield to Maturity

      0.57%
    • Effective Duration (yrs)

      2.34
    • Modified Duration (yrs)

      2.42
    • Duration to Worst (yrs)

      2.32
    • Spread Duration (yrs)

      2.42
    • Years to Maturity

      2.74
    • Coupon

      5.11%
     4 See Important Disclosure for definitions.
  • Prices as of 10/23/2014

    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
    PRB $24.69
    $24.50
    6,666
    62,874
    $-0.01 / -0.03%
    $0.03 / +0.12%
    + 0.8%
    + 0.5%

    $-0.19
    -0.78%
  • 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
    02/02/09
    PRB (NAV) -0.12 0.13 1.08 1.12 0.57 1.11 -- 1.29
    PRB (Share Price) -0.20 -0.27 0.88 0.63 0.58 0.87 -- 1.16
    LMPETR (Index) -0.11 0.24 1.23 1.52 1.13 1.66 -- 1.83
    Performance Differential (NAV - Index) -0.01 -0.11 -0.15 -0.40 -0.56 -0.55 -- -0.54
    After Tax Held -- -- -- 1.12 -- 1.10 -- 1.28
    After Tax Sold -- -- -- 1.10 -- 1.17 -- 1.30
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/02/09
    PRB (NAV) -0.12 0.13 1.08 1.12 0.57 1.11 -- 1.29
    PRB (Share Price) -0.20 -0.27 0.88 0.63 0.58 0.87 -- 1.16
    LMPETR (Index) -0.11 0.24 1.23 1.52 1.13 1.66 -- 1.83
    Performance Differential (NAV - Index) -0.01 -0.11 -0.15 -0.40 -0.56 -0.55 -- -0.54
    After Tax Held -- -- -- 1.12 -- 1.10 -- 1.28
    After Tax Sold -- -- -- 1.10 -- 1.17 -- 1.30
  • View All Holdings »Top 10 Holdings (%)as of 09/30/14

    Total Holdings: 63
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    State
    Currency
    % of Net
    Assets
    Nj Transportation Trust Fund Authority
    5.250
    12/15/2018
    A+
    NJ
    USD
    6.32
    Washington Health Care Facilities Autho
    6.500
    11/15/2027
    NR
    WA
    USD
    6.28
    Regional Transportation District
    5.000
    11/01/2019
    AA+
    CO
    USD
    6.16
    Colorado State Department Of Correction
    5.000
    03/01/2018
    AA-
    CO
    USD
    6.14
    Waco Health Facilities Development Corp
    4.500
    08/01/2035
    A
    TX
    USD
    4.40
    Charleston Educational Excellence Finan
    5.250
    12/01/2030
    AA
    SC
    USD
    4.36
    Richmond Metropolitan Authority
    5.250
    07/15/2022
    A
    VA
    USD
    3.50
    Regional Transportation District
    5.000
    11/01/2028
    AA
    CO
    USD
    3.20
    State Of Washington
    5.000
    01/01/2018
    AA+
    WA
    USD
    3.08
    Regional Transportation District
    5.000
    11/01/2036
    AA
    CO
    USD
    2.77
    Top 10 Total (%)46.21

    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.

  • Geographical Weightings (%)
    as of 09/30/14

    • State

      % of Net Assets
    • CO

      21.1
    • IL

      12.4
    • WA

      10.8
    • TX

      7.9
    • CA

      7.1
    • NJ

      6.3
    • SC

      4.4
    • NY

      4.1
    • MA

      3.9
    • MD

      3.7
    • VA

      3.5
    • PR

      3.2
    • HI

      2.4
    • OR

      1.7
    • FL

      1.5
    • UT

      1.4
    • MO

      1.0
    • GA

      1.0
    • NV

      0.8
    • NC

      0.7
    • Other

      1.2
  • Currency Exposure (%)
    as of 09/30/14

    • U.S. Dollar

      99.08
    • Other

      0.92
    • Total

      100.00
  • Sector Weightings (%)
    as of 09/30/14

    • Sector

      % of Net Assets
    • Leasing

      21.0
    • Transportation

      19.9
    • Special Tax

      16.3
    • State General

      14.6
    • Health Care Facilities

      13.9
    • Local General

      7.9
    • Education

      4.1
    • Water Utilities

      1.2
  • Maturity (%) as of 09/30/14

    Average Portfolio Maturity: 11.24 Years