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Short High-Yield Municipal Index ETF SHYD

  • Full Name: Market Vectors® Short
    High-Yield Municipal Index ETF (SHYD®)

    Management Style: Sampling

    Underlying Index: The Barclays Municipal High Yield Short Duration Index (BMHYTR)

    Index Provider: Barclays

    Index Description: BMHYTR is calculated using a market value weighting methodology and it tracks the high-yield municipal bond market with a 75% weight in non-investment grade municipal bonds and a 25% weight in Baa/BBB-rated investment grade municipal bonds for liquidity and balance.

  •  
      

    • Fund Ticker

      SHYD
    • Exchange

      NYSE Arca
    • Commencement

      01/13/2014
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      BMHYTR
    • Index Rebalancing

      Monthly
  •  
    as of 11/21/14

    • 30-Day SEC Yield1

      3.13%
    • Total Net Assets

      $78.8M
    • Number of Holdings

      228
    • Options

      Expected
    • Gross Expense Ratio2

      0.35%
    • Net Expense Ratio/TER2

      0.35%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      11/28/2014
  • Key Points

    • High Yield, Shorter Duration Focus
      Index comprises highest yielding municipal bonds with maturities of 1-10 years, which potentially provides lower sensitivity to interest rates than all maturity high yield municipal bond funds

    • Enhanced Liquidity Feature
      Index includes 25% BBB investment-grade exposure for added liquidity

    • Diverse Sector Exposure and Low Default Rates
      Index covers wide range of muni sectors and securities with historically low default rates*

    * Source: Moody’s US Municipal Bond Defaults and Recoveries, 1970-2012

  • Yields

    • 30-Day SEC Yield1

      --
    • Distribution Yield1

      --
    • 12-Month Yield1

      --
    • Taxable Equivalent 30-Day SEC Yields1a

      --
    • Federal Tax Rate of 15%

      --
    • Federal Tax Rate of 25%

      --
    • Federal Tax Rate of 28%

      --
    • Federal Tax Rate of 33%

      --
    • Federal Tax Rate of 39.6%

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

    • Management Fee

      0.35%
    • Other Expenses

      --
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.35%
    • Fee Waivers and
      Expense Reimbursement

      --
    • Net Expense Ratio/TER2

      0.35%
    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

      SHYD
    • Index Total Return Ticker

      BMHYTR
    • NAV

      SHYDNV
    • Intraday NAV (IIV)5

      SHYDIV
    • Shares Outstanding

      3,100,000
    • Estimated Cash

      SHYDEU
    • Total Cash

      SHYDTC
    • CUSIP

      57061R486
    • ISIN

      US57061R4864
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 11/20/14

    • Yield to Worst

      3.47%
    • Yield to Maturity

      3.68%
    • Effective Duration (yrs)

      4.33
    • Modified Duration (yrs)

      4.05
    • Duration to Worst (yrs)

      3.89
    • Spread Duration (yrs)

      3.79
    • Years to Maturity

      7.32
    • Coupon

      5.01%
    • AMT

      12.81%
     4 See Important Disclosure for definitions.
  • Prices as of 11/21/2014

    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
    SHYD $25.41
    $25.48
    23,868
    21,348
    $0.00 / +0.01%
    $0.04 / +0.14%
    n/a
    n/a

    $0.07
    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
    01/13/14
    SHYD (NAV) 0.62 1.98 -- -- -- -- -- 4.26
    SHYD (Share Price) 0.70 2.02 -- -- -- -- -- 4.26
    BMHYTR (Index) 0.60 2.35 7.69 7.77 -- -- -- 3.68
    Performance Differential (NAV - Index) 0.02 -0.37 -- -- -- -- -- 0.58
    After Tax Held -- -- -- -- -- -- -- 4.26
    After Tax Sold -- -- -- -- -- -- -- 3.37
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    01/13/14
    SHYD (NAV) 0.50 1.22 -- -- -- -- -- 3.62
    SHYD (Share Price) 0.42 0.54 -- -- -- -- -- 3.53
    BMHYTR (Index) 0.59 1.95 7.04 7.25 -- -- -- 3.50
    Performance Differential (NAV - Index) -0.09 -0.73 -- -- -- -- -- 0.12
    After Tax Held -- -- -- -- -- -- -- 3.62
    After Tax Sold -- -- -- -- -- -- -- 2.88
  • View All Holdings »Top 10 Holdings (%)as of 10/31/14

    Total Holdings: 219
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    State
    Currency
    % of Net
    Assets
    Texas Municipal Gas Acquisition & Suppl
    5.000
    12/15/2021
    BBB+
    TX
    USD
    2.48
    Salem County Pollution Control Financin
    5.000
    12/01/2023
    BBB-
    NJ
    USD
    2.09
    City Of New Orleans La Sewerage Service
    5.000
    06/01/2019
    BBB+
    LA
    USD
    2.00
    Arizona Health Facilities Authority
    5.000
    02/01/2020
    NR
    AZ
    USD
    1.74
    Arizona Health Facilities Authority
    5.100
    10/01/2022
    NR
    AZ
    USD
    1.66
    Michigan Strategic Fund
    7.500
    01/01/2021
    NR
    MI
    USD
    1.65
    Town Of Oyster Bay Ny
    3.000
    08/15/2018
    NR
    NY
    USD
    1.61
    Virgin Islands Public Finance Authority
    5.000
    10/01/2020
    BBB
    VI
    USD
    1.61
    City Of New Orleans La Sewerage Service
    5.000
    06/01/2018
    BBB+
    LA
    USD
    1.61
    City Of Burlington Vt Airport Revenue
    5.000
    07/01/2022
    BB+
    VT
    USD
    1.60
    Top 10 Total (%)18.05

    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 10/31/14

    • State

      % of Net Assets
    • TX

      9.7
    • NJ

      9.6
    • OH

      8.3
    • CA

      8.0
    • MI

      6.9
    • LA

      6.9
    • NY

      5.9
    • AZ

      5.5
    • PR

      4.9
    • VI

      4.0
    • WI

      3.7
    • IL

      3.6
    • IA

      3.0
    • PA

      2.5
    • VT

      1.8
    • FL

      1.8
    • VA

      1.6
    • MD

      1.5
    • KY

      1.5
    • NM

      1.4
    • Other

      7.9
  • Currency Exposure (%)
    as of 10/31/14

    • U.S. Dollar

      100.62
    • Other

      -0.62
    • Total

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

    • Sector

      % of Net Assets
    • IDR/PCR

      28.3
    • Health Care Facilities

      22.5
    • Transportation

      10.6
    • Special Tax

      10.4
    • Water Utilities

      8.2
    • Education

      4.7
    • Power Utilities

      3.8
    • State General

      2.8
    • Leasing

      2.8
    • Local General

      2.6
    • Housing

      0.2
  • Credit Quality (%)
    as of 10/31/14

    Composite % of Net Assets
    Investment Grade A 2.76
    BBB 47.67
    Non-Investment Grade BB 16.92
    B 9.29
    CCC 1.52
    D 0.29
    Total Investment Grade 50.43
    Total Non-Investment Grade 28.01
    Not Rated 21.56
    Barclays Composite Rating: A blend of a security's Moody's, S&P, and Fitch ratings. If all three agencies rate the security, the middle rating is taken. If only two agencies rate a security, the lower rating is taken. If only one agency rates a security, that rating is used. Not rated indicates that a security is rated by fewer than one of the three rating agencies. This composite is not intended to be a credit opinion.
  • Maturity (%) as of 10/31/14

    Average Portfolio Maturity: 7.44 Years