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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 04/17/15

    • 30-Day SEC Yield1

      3.14%
    • Total Net Assets

      $94.5M
    • Number of Holdings

      287
    • Options

      Expected
    • Gross Expense Ratio2

      0.35%
    • Net Expense Ratio/TER2

      0.35%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      04/30/2015
  • 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
    as of 04/17/15

    • 30-Day SEC Yield1

      3.14%
    • Distribution Yield1

      3.14%
    • 12-Month Yield1

      3.07%
    • Taxable Equivalent 30-Day SEC Yields1a

      --
    • Federal Tax Rate of 15%

      3.69%
    • Federal Tax Rate of 25%

      4.18%
    • Federal Tax Rate of 28%

      4.35%
    • Federal Tax Rate of 33%

      4.68%
    • Federal Tax Rate of 39.6%

      5.19%
     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 04/16/15

    • Yield to Worst

      3.40%
    • Yield to Maturity

      3.62%
    • Effective Duration (yrs)

      4.25
    • Modified Duration (yrs)

      3.99
    • Duration to Worst (yrs)

      3.92
    • Spread Duration (yrs)

      3.83
    • Years to Maturity

      7.48
    • Coupon

      5.01%
    • AMT

      15.24%
     4 See Important Disclosure for definitions.
  • Prices as of 04/17/15

    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 $25.53
    $25.52
    30,636
    26,522
    $0.00 / +0.02%
    $-0.02 / -0.08%
    +1.6%
    +1.0%
    $-0.01
    -0.05%
  • 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) 0.20 1.37 1.37 4.40 -- -- -- 4.92
    SHYD (Share Price) -0.82 0.30 0.30 3.53 -- -- -- 4.51
    BMHYTR (Index) 0.32 1.45 1.45 7.47 -- -- -- 7.87
    Performance Differential (NAV - Index) -0.12 -0.08 -0.08 -3.07 -- -- -- -2.95
    After Tax Held -- -- -- 4.40 -- -- -- 4.92
    After Tax Sold -- -- -- 3.85 -- -- -- 4.44
    Quarter End as of 03/31/15
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    01/13/14
    SHYD (NAV) 0.20 1.37 1.37 4.40 -- -- -- 4.92
    SHYD (Share Price) -0.82 0.30 0.30 3.53 -- -- -- 4.51
    BMHYTR (Index) 0.32 1.45 1.45 7.47 -- -- -- 7.87
    Performance Differential (NAV - Index) -0.12 -0.08 -0.08 -3.07 -- -- -- -2.95
    After Tax Held -- -- -- 4.40 -- -- -- 4.92
    After Tax Sold -- -- -- 3.85 -- -- -- 4.44
  • View All Holdings »Top 10 Holdings (%)as of 03/31/15

    Total Holdings: 287
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    State
    Currency
    % of Net
    Assets
    Railsplitter Tobacco Settlement Authori
    5.500
    06/01/2023
    BBB+
    IL
    USD
    1.59
    Texas Municipal Gas Acquisition & Suppl
    5.000
    12/15/2021
    BBB+
    TX
    USD
    1.56
    Beaver County Industrial Development Au
    3.500
    12/01/2035
    BBB-
    PA
    USD
    1.39
    Arizona Health Facilities Authority
    5.100
    10/01/2022
    NR
    AZ
    USD
    1.30
    Salem County Pollution Control Financin
    5.000
    12/01/2023
    BBB-
    NJ
    USD
    1.28
    Texas Municipal Gas Acquisition & Suppl
    5.000
    12/15/2022
    BBB+
    TX
    USD
    1.25
    Antonio B Won Pat International Airport
    5.000
    10/01/2021
    BBB
    GU
    USD
    1.24
    Illinois Finance Authority
    7.625
    05/15/2025
    NR
    IL
    USD
    1.22
    Love Field Airport Modernization Corp
    5.000
    11/01/2018
    BBB
    TX
    USD
    1.21
    City Of Burlington Vt Airport Revenue
    5.000
    07/01/2022
    BB+
    VT
    USD
    1.21
    Top 10 Total (%)13.25

    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 03/31/15

    • State

      % of Net Assets
    • TX

      11.5
    • CA

      8.2
    • NY

      7.6
    • LA

      7.2
    • IL

      6.3
    • OH

      6.2
    • AZ

      6.1
    • MI

      5.6
    • NJ

      5.5
    • PA

      5.2
    • PR

      5.0
    • IA

      3.3
    • VI

      2.8
    • WI

      2.8
    • GU

      2.0
    • MD

      1.8
    • VT

      1.4
    • FL

      1.3
    • VA

      1.2
    • NM

      1.1
    • Other

      7.9
  • Currency Exposure (%)
    as of 03/31/15

    • U.S. Dollar

      100.97
    • Other

      -0.97
  • Sector Weightings (%) as of 03/31/15

    • Sector

      % of Net Assets
    • IDR/PCR

      35.7
    • Health Care Facilities

      21.5
    • Transportation

      10.3
    • Special Tax

      9.2
    • Water Utilities

      5.9
    • Power Utilities

      4.5
    • Education

      3.8
    • State General

      2.4
    • Leasing

      2.3
    • Local General

      1.7
    • Housing

      0.2
  • Credit Quality (%)
    as of 03/31/15

    Composite % of Net Assets
    Investment Grade A 0.22
    BBB 48.80
    Non-Investment Grade BB 11.15
    B 11.43
    CCC 3.15
    D 0.01
    Total Investment Grade 49.02
    Total Non-Investment Grade 25.73
    Not Rated 25.25
    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 03/31/15

    Average Portfolio Maturity: 7.59 Years