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BDC Income ETF BIZD

  • Full Name: Market Vectors®
    BDC Income ETF (BIZD)

    Management Style: Replication

    Underlying Index: Market Vectors® US Business Development Companies Index (MVBIZDTG)

    Index Provider: Market Vectors Index Solutions

    Index Description: MVBIZDTG is a rules based index intended to track the overall performance of publicly traded business development companies.

  •  
      

    • Fund Ticker

      BIZD
    • Exchange

      NYSE Arca
    • Commencement

      02/11/2013
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      MVBIZDTG
    • Index Rebalancing

      Monthly
  •  
    as of 09/30/14

    • 30-Day SEC Yield1

      8.63%
    • Total Net Assets

      $45.9M
    • Number of Holdings

      29
    • Options

      Expected
    • Gross Expense Ratio2

      9.58%
    • Net Expense Ratio/TER2

      9.17%
    • Distribution Frequency

      Quarterly
    • Next Distribution Date

      12/26/2014
    • Expenses Explained
  • Key Points

    • High Income Potential 

    • Only ETF Offering Pure-Play Exposure to BDCs 

    • BDCs Generate Income by Lending to, and Investing in, Private Companies that tend to be Below Investment Grade or Not Rated 
  • Yields
    as of 09/30/14

    • 30-Day SEC Yield1

      8.63%
    • Distribution Yield1

      6.96%
    • 12-Month Yield1

      6.99%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      0.41%
    • Acquired Fund Fees and Expenses

      8.77%
    • Gross Expense Ratio

      9.58%
    • Fee Waivers and
      Expense Reimbursement

      -0.41%
    • Net Expense Ratio/TER2

      9.17%
    2Expenses for BIZD are capped contractually at 0.40% until 09/01/15. Cap excludes certain expenses, such as interest and acquired fund fees and expenses. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio". See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      BIZD
    • Index Total Return Ticker

      MVBIZDTG
    • NAV

      BIZDNV
    • Intraday NAV (IIV)5

      BIZDIV
    • Shares Outstanding

      2,350,000
    • Estimated Cash

      BIZDEU
    • Total Cash

      BIZDTC
    • CUSIP

      57060U316
    • ISIN

      US57060U3169
    5See IIV Details. Source: Bloomberg
  • Prices as of 09/30/2014

    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
    BIZD $19.53
    $19.60
    16,684
    10,537
    $-0.22 / -1.09%
    $-0.16 / -0.81%
    - 3.2%
    - 3.3%

    $0.07
    0.35%
  • 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
    02/11/13
    BIZD (NAV) 3.05 5.45 3.53 11.09 -- -- -- 7.98
    BIZD (Share Price) 2.80 5.14 3.02 11.02 -- -- -- 7.90
    MVBIZD (Index) 3.06 5.50 1.94 11.38 16.27 -- -- 8.33
    Performance Differential (NAV - Index) -0.01 -0.05 1.59 -0.29 -- -- -- -0.35
    After Tax Held -- -- -- 7.94 -- -- -- 5.32
    After Tax Sold -- -- -- 6.21 -- -- -- 4.85
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/11/13
    BIZD (NAV) 5.85 3.36 3.92 12.63 -- -- -- 9.30
    BIZD (Share Price) 5.99 3.15 3.85 12.53 -- -- -- 9.55
    MVBIZD (Index) 5.90 3.41 2.32 13.00 -- -- -- 9.70
    Performance Differential (NAV - Index) -0.05 -0.05 1.60 -0.37 -- -- -- -0.40
    After Tax Held -- -- -- 9.62 -- -- -- 6.83
    After Tax Sold -- -- -- 7.05 -- -- -- 5.92
  • View All Holdings »Top 10 Holdings (%)as of 08/31/14

    Total Holdings: 29
    Holding Name
    Ticker
    SharesMarket Value
    (US$)
    % of Net
    Assets
    Ares Capital Corp
    ARCC US
    317,779
    5,449,91011.77
    Prospect Capital Corp
    PSEC US
    364,796
    3,761,0478.12
    American Capital Ltd
    ACAS US
    242,665
    3,758,8818.12
    Fs Investment Corp
    FSIC US
    279,437
    2,934,0896.34
    Fifth Street Finance Corp
    FSC US
    239,788
    2,357,1165.09
    Main Street Capital Corp
    MAIN US
    71,959
    2,342,9855.06
    Apollo Investment Corp
    AINV US
    266,368
    2,336,0475.05
    Triangle Capital Corp
    TCAP US
    80,490
    2,211,8654.78
    Golub Capital Bdc Inc
    GBDC US
    116,233
    2,056,1624.44
    Hercules Technology Growth Capital Inc
    HTGC US
    131,072
    2,004,0914.33
    Top 10 Total (%)63.10
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Sector Weightings (%)
    as of 08/31/14

    • Sector

      % of Net Assets
    • Financial

      100.5
    • Other

      -0.5
  • Currency Exposure (%)
    as of 08/31/14

    • U.S. Dollar

      100.55
    • Other

      -0.55
    • Total

      100.00
  • Country Weightings (%)
    as of 08/31/14

    • Country

      % of Net Assets
    • U.S.

      100.5
    • Other

      -0.5