disclosure for Israel ETF investors: Investors should be willing to accept a
high degree of volatility and the potential of significant loss. The Fund is
subject to elevated risks, including those associated with investments in
foreign securities, in particular Israeli issuers, which include, among others,
greater market volatility, the availability of less reliable financial
information, higher transactional and custody costs, taxation by foreign
governments, decreased market liquidity and political instability. Israel’s
relations with the Palestinian Authority and certain neighboring countries
such as Lebanon, Syria and Iran, among others, have at times been strained
due to territorial disputes, historical animosities or security concerns,
which may cause uncertainty in the Israeli markets and adversely affect the
overall economy. Furthermore, Israel’s economy is heavily dependent upon
trade relationships with key counter parties around the world. Any
reduction in these trade flows may have an adverse impact on the Fund’s
investments. In addition, companies with medium and small capitalizations are
subject to elevated risks, which include, among others, greater volatility,
lower trading volume and less liquidity than larger companies and tend to
have narrower product lines, fewer financial resources, less management depth
and experience and less competitive strength. Finally, the Fund is classified
as a “non-diversified” investment company under the Investment Company Act
of 1940, as amended (the “1940 Act”). Therefore, the Fund may invest
a relatively high percentage of its assets in a smaller number of issuers
or may invest a larger proportion of its assets in a single company.As a
result, the gains and losses on a single investment may have a greater
impact on the Fund’s NAV and may make the Fund more volatile than more
diversified funds. The Fund may loan its securities, which may subject it
to additional credit and counterparty risk.
“BlueStar Israel Global Index” is the exclusive property and a trademark
of BlueStar Global Investors LLC and has been licensed for use for certain
purposes by Van Eck Associates Corporation for Market Vectors Israel ETF.
The ETF is not sponsored, endorsed, sold or promoted by BlueStar Global
Investors LLC and BlueStar Global Investors LLC makes no representation
regarding the advisability of trading in such products(s).
Israel Capped Investable Market Index is designed to measure the performance
of the large, mid, and small cap segments of the Israeli market, consisting
of stocks traded on the Tel Aviv Stock Exchange. The iShares MSCI Israel
Capped ETF (EIS) seeks investment results that correspond generally to the
price and yield performance, before fees and expenses, of this
December 31, 2013, the individual stocks mentioned in this commentary had the
following allocation in the Market Vectors Israel ETF. Perrigo (9.72% of the
portfolio); Stratasys (3.70%); Check Point (7.02%); Teva (12.13%); Bank Leumi
(4.04%); Bank Hapoalim (4.20%).
involves substantial risk and high volatility, including possible loss of
principal. An investor should consider the investment objective, risks, charges
and expenses of the Fund carefully before investing. To obtain a prospectus
and summary prospectus, which contains this and other information, call
888.MKT.VCTR or visit marketvectors.com/isra.
Please read the prospectus and summary
prospectus carefully before investing.
part of this material may be reproduced in any form, or referred to in any
other publication, without express written permission of Van Eck Securities
Corporation. © 2014 Van Eck Securities Corporation.
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