Individual Investors

Subscribe to email updates

Subscribe now

Financial Professionals

Subscribe to email updates, or password protected financial professional-only content
email address/username
password

ITM Market Vectors AMT-Free Intermediate Municipal Index ETF

  • Fund Description

    The Market Vectors® AMT-Free Intermediate Municipal Index ETF (ITM®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays AMT-Free Intermediate Continuous Municipal Index (LMT2TR), which is intended to track the overall performance of the U.S. dollar denominated intermediate-term tax-exempt bond.

  •  
      

    • 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 02/11/16

    • 30-Day SEC Yield1

      1.69%
    • Total Net Assets

      $1.4B
    • Number of Holdings

      1530
    • Options

      Available
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      02/29/2016
    1, 2, 7 See Important Disclosure
  • Morningstar™ Ratings3
    as of 12/31/15

    Category Overall 3 Year 5 Year
    Muni National Intermediate
        
    4 stars of 298 Funds
        
    4 stars of 298 Funds
        
    4 stars of 250 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 02/11/16

    • 30-Day SEC Yield1

      1.69%
    • Distribution Yield1

      2.32%
    • 12-Month Yield1

      2.23%
    • Taxable Equivalent 30-Day SEC Yields1a

      --
    • 15% Federal Tax Rate

      1.98%
    • 25% Federal Tax Rate

      2.25%
    • 28% Federal Tax Rate

      2.34%
    • 33% Federal Tax Rate

      2.52%
    • 39.6% Federal Tax Rate

      2.79%
     1/1a See Important Disclosure for definitions.
  • Fees and Expenses2

    • Management Fee

      0.24%
    • Other Expenses

      0.00%
    • 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." See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      ITM
    • Index Total Return Ticker

      LMT2TR
    • NAV

      ITMNV
    • Intraday NAV (IIV)5

      ITMIV
    • Shares Outstanding

      56,600,000
    • Estimated Cash

      ITMEU
    • Total Cash

      ITMTC
    • CUSIP

      57060U845
    • ISIN

      US57060U8457
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 02/10/16

    • Yield to Worst

      1.83%
    • Yield to Maturity

      2.53%
    • Effective Duration (yrs)

      6.76
    • Duration to Worst (yrs)

      6.16
    • Modified Duration (yrs)

      6.51
    • Spread Duration (yrs)

      6.53
    • Years to Maturity

      10.73
    • Coupon

      4.83%
     4 See Important Disclosure for definitions.
  • Prices as of 02/11/16

    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 $24.48
    $24.50
    482,061
    636,553
    $0.07 / +0.28%
    $0.04 / +0.16%
    +2.9%
    +2.6%
    $0.02
    0.06%
  • 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) 1.87 3.16 1.87 2.98 3.39 5.95 -- 5.01
    ITM (Share Price) 1.52 3.21 1.52 2.72 3.41 6.28 -- 5.01
    LMT2TR (Index) 1.75 3.40 1.75 3.63 4.23 6.68 -- 5.84
    Performance Differential (NAV - Index) 0.12 -0.24 0.12 -0.65 -0.84 -0.73 -- -0.83
    After Tax Held 1.87 3.16 1.87 2.98 3.39 5.95 -- 5.01
    After Tax Sold 1.14 2.04 1.14 2.68 3.16 5.27 -- 4.60
    Quarter End as of 12/31/15
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    12/04/07
    ITM (NAV) 0.78 1.81 3.67 3.67 2.92 5.47 -- 4.83
    ITM (Share Price) 1.12 2.02 3.66 3.66 2.96 5.63 -- 4.87
    LMT2TR (Index) 1.04 2.08 4.24 4.24 3.69 6.17 -- 5.68
    Performance Differential (NAV - Index) -0.26 -0.27 -0.57 -0.57 -0.77 -0.70 -- -0.85
    After Tax Held 0.78 1.81 3.67 3.67 2.92 5.46 -- 4.82
    After Tax Sold 0.53 1.28 3.10 3.10 2.80 4.89 -- 4.45
  • Daily Holdings »Top 10 Holdings (%)as of 01/31/16

    Total Holdings: 1526
    Issuer Name
    State Weighting (%)
    California St For Previous Issues See 13063B
    CA
    3.46
    Connecticut St For Issues Dated Prior To 10/19/10 See 2
    CT
    2.61
    Pennsylvania St
    PA
    2.31
    New Jersey Economic Dev Auth Rev
    NJ
    1.96
    California St For Previous Issues See 13063A Foraddl Is
    CA
    1.70
    New York St Dorm Auth St Pers Income Tax Rev Forissues
    NY
    1.70
    Triborough Brdg & Tunl Auth N Y Revs
    NY
    1.59
    Hawaii St
    HI
    1.53
    New York N Y For Prior Issues See 64966H Etc Foraddl Is
    CY
    1.48
    California St Pub Wks Brd Lease Rev For Issues Dtd Prio
    CA
    1.46
    Top 10 Total (%)19.80

    These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Geographical Weightings (%) as of 01/31/16

    • State

      % of Net Assets
    • New York

      16.1
    • California

      14.7
    • Texas

      10.4
    • New Jersey

      4.7
    • Florida

      4.2
    • Illinois

      3.8
    • Washington

      3.4
    • Connecticut

      3.4
    • Ohio

      3.3
    • Maryland

      3.1
    • Virginia

      3.0
    • Massachusetts

      2.9
    • Pennsylvania

      2.8
    • Arizona

      2.4
    • Hawaii

      2.3
    • Louisiana

      2.3
    • Kentucky

      1.7
    • Georgia

      1.4
    • Minnesota

      1.3
    • Missouri

      1.0
    • Other

      12.0
  • Currency Exposure (%)
    as of 01/31/16

    • U.S. Dollar

      99.90
    • Other/Cash

      0.10
  • Sector Weightings (%) as of 01/31/16

    • Sector

      % of Net Assets
    • State

      26.5
    • Local

      19.6
    • Transportation

      11.6
    • Special Tax

      9.9
    • Leasing

      7.6
    • Water & Sewer

      7.5
    • Education

      6.9
    • Power

      5.4
    • Health Care

      4.4
    • Industrial Revenue

      0.5
    • Solid Waste/Res Recovery

      0.2
    • Housing

      0.1
  • Credit Quality (%)
    as of 01/31/16

    Composite % of Net Assets
    Investment Grade AAA 15.63
    AA 60.32
    A 20.48
    BBB 3.32
    Total Investment Grade -- 99.76
    Not Rated -- 0.24
    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 01/31/16

    Average Portfolio Maturity: 10.70 Years