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Intermediate Municipal Index ETF ITM

  • Full Name: Market Vectors®
    Intermediate Municipal Index ETF (ITM®)

    Management Style: Sampling

    Underlying Index: The Barclays AMT-Free Intermediate Continuous Municipal Index (LMT2TR)

    Index Provider: Barclays

    Index Description: LMT2TR is a market value weighted index designed to replicate the price movements of medium-duration bonds with a nominal maturity of 6-17 years.

  •  
      

    • Fund Ticker

      ITM
    • Exchange

      NYSE Arca
    • Commencement

      12/04/2007
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMT2TR
    • Index Rebalancing

      Monthly
    • Preliminary NAIC
      Designation7

      1
  •  
    as of 11/26/14

    • 30-Day SEC Yield1

      2.18%
    • Total Net Assets

      $802.3M
    • Number of Holdings

      914
    • Options

      Expected
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      11/28/2014
    1, 2, 7 See Important Disclosure
  • Morningstar™ Ratings3
    as of 10/31/14

    Category Overall 3 Year 5 Year
    Muni National Intermediate
        
    4 stars of 249 Funds
        
    4 stars of 249 Funds
        
    4 stars of 209 Funds
  • Key Points

    • Tax-Free Yield
      Income generally exempt from federal taxes and the Alternative Minimum Tax (AMT)

    • Targeted Interest Rate Risk
      Designed to track an index of intermediate-duration municipal bonds

    • Quality
      Investment-grade index constituents with high overall credit quality
  • Yields
    as of 11/26/14

    • 30-Day SEC Yield1

      2.18%
    • Distribution Yield1

      2.43%
    • 12-Month Yield1

      2.47%
    • Taxable Equivalent 30-Day SEC Yields1a

    • Federal Tax Rate of 15%

      2.56%
    • Federal Tax Rate of 25%

      2.91%
    • Federal Tax Rate of 28%

      3.03%
    • Federal Tax Rate of 33%

      3.25%
    • Federal Tax Rate of 39.6%

      3.61%
     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

      ITM
    • Index Total Return Ticker

      LMT2TR
    • NAV

      ITMNV
    • Intraday NAV (IIV)5

      ITMIV
    • Shares Outstanding

      34,200,000
    • Estimated Cash

      ITMEU
    • Total Cash

      ITMTC
    • CUSIP

      57060U845
    • ISIN

      US57060U8457
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 11/26/14

    • Yield to Worst

      2.38%
    • Yield to Maturity

      2.84%
    • Effective Duration (yrs)

      7.22
    • Modified Duration (yrs)

      6.75
    • Duration to Worst (yrs)

      6.38
    • Spread Duration (yrs)

      6.72
    • Years to Maturity

      10.63
    • Coupon

      4.81%
     4 See Important Disclosure for definitions.
  • Prices as of 11/26/2014

    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
    ITM $23.46
    $23.50
    206,957
    121,025
    $0.03 / +0.12%
    $0.05 / +0.21%
    + 6.8%
    + 7.9%

    $0.04
    0.17%
  • 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
    12/04/07
    ITM (NAV) 0.71 2.06 8.47 6.98 4.74 5.29 -- 5.04
    ITM (Share Price) 0.67 1.97 9.40 7.55 4.71 5.26 -- 5.04
    LMT2TR (Index) 0.87 2.37 9.53 8.53 5.57 6.07 -- 5.90
    Performance Differential (NAV - Index) -0.16 -0.31 -1.06 -1.55 -0.83 -0.78 -- -0.86
    After Tax Held -- -- -- 6.98 -- 5.29 -- 5.03
    After Tax Sold -- -- -- 5.08 -- 4.80 -- 4.63
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    12/04/07
    ITM (NAV) -0.17 1.58 7.70 7.16 4.30 4.54 -- 4.99
    ITM (Share Price) -0.13 1.54 8.67 7.83 4.19 4.48 -- 5.00
    LMT2TR (Index) -0.07 1.79 8.58 8.58 5.06 5.27 -- 5.84
    Performance Differential (NAV - Index) -0.10 -0.21 -0.88 -1.42 -0.76 -0.73 -- -0.85
    After Tax Held -- -- -- 7.16 -- 4.53 -- 4.99
    After Tax Sold -- -- -- 5.19 -- 4.19 -- 4.60
  • View All Holdings »Top 10 Holdings (%)as of 10/31/14

    Total Holdings: 886
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    State
    Currency
    % of Net
    Assets
    State Of California
    5.000
    10/01/2029
    A
    CA
    USD
    0.62
    Nj Transportation Trust Fund Authority
    5.250
    06/15/2030
    A
    NJ
    USD
    0.51
    New York State Thruway Authority
    5.000
    01/01/2026
    A
    NY
    USD
    0.51
    State Of Louisiana
    4.000
    02/01/2029
    AA
    LA
    USD
    0.48
    State Of Ohio
    5.000
    05/01/2027
    AA+
    OH
    USD
    0.48
    New York City Transitional Finance Auth
    5.000
    05/01/2030
    AA+
    NY
    USD
    0.47
    New York State Dormitory Authority
    5.000
    03/15/2021
    AA+
    NY
    USD
    0.43
    Commonwealth Of Massachusetts
    5.000
    07/01/2026
    AA+
    MA
    USD
    0.43
    State Of California
    5.000
    10/01/2028
    A
    CA
    USD
    0.42
    Harris County Cultural Education Facili
    5.000
    12/01/2030
    A+
    TX
    USD
    0.42
    Top 10 Total (%)4.77

    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
    • NY

      18.0
    • CA

      14.7
    • TX

      8.4
    • NJ

      7.6
    • FL

      5.1
    • WA

      4.2
    • IL

      3.9
    • VA

      3.6
    • OH

      2.5
    • MA

      2.5
    • AZ

      2.5
    • CT

      2.5
    • PA

      2.5
    • GA

      1.9
    • MN

      1.7
    • MO

      1.6
    • SC

      1.4
    • HI

      1.4
    • NC

      1.3
    • MD

      1.2
    • Other

      11.6
  • Currency Exposure (%)
    as of 10/31/14

    • U.S. Dollar

      99.99
    • Other

      0.01
  • Sector Weightings (%)
    as of 10/31/14

    • Sector

      % of Net Assets
    • State General

      25.7
    • Local General

      16.3
    • Special Tax

      13.1
    • Transportation

      11.2
    • Power Utilities

      7.9
    • Leasing

      7.8
    • Education

      7.0
    • Water Utilities

      5.9
    • Health Care Facilities

      3.5
    • IDR/PCR

      1.4
    • Housing

      0.3
  • Credit Quality (%)
    as of 10/31/14

    Composite % of Net Assets
    Investment Grade AAA 15.09
    AA 53.42
    A 29.57
    BBB 1.93
    Total Investment Grade 100.00
    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: 10.60 Years