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FLTR Market Vectors Investment Grade Floating Rate ETF

  • Fund Description

    Market Vectors® Investment Grade Floating Rate ETF (FLTR®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors® U.S. Investment Grade Floating Rate Index (MVFLTR), which consists of U.S. dollar denominated floating rate notes issued by corporate issuers and rated investment grade by at least one of the three rating services: Moody's, S&P or Fitch.

  •  
      

    • Fund Ticker

      FLTR
    • Exchange

      NYSE Arca
    • Commencement

      04/25/2011
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      MVFLTR
    • Index Rebalancing

      Monthly
    • NAIC
      Designation8

      2
  •  
    as of 02/10/16

    • 30-Day SEC Yield1

      1.17%
    • Total Net Assets

      $78.9M
    • Number of Holdings

      157
    • Options

      Expected
    • Gross Expense Ratio2

      0.48%
    • Net Expense Ratio/TER2

      0.14%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      02/29/2016
    1,2,8 See Important Disclosure
  • Index Key Points

    The Market Vectors® US Investment Grade Floating Rate Index (MVFLTR) comprises: 

    U.S. dollar denominated floating rate notes issued by corporate entities or similar commercial entities that are public reporting companies in the U.S. with at least one investment grade rating.

    Issues eligible for inclusion in Index:    

    • At least one investment grade rating by Moody’s, S&P or Fitch and must not be rated below investment grade by the same.
    • Outstanding issue size of at least $500 million. 
    • Minimum of 6 months remaining to maturity.
    • U.S. dollar denominated.

      Index Weighting: 

      • Modified market-cap weighted.
      • Constituents capped at 2%.
      • Rebalanced monthly.

      Index Provider: Market Vectors Index Solutions

    • Index Profile

      • Ticker

        MVFLTR
      • Inception Date

        02/10/2011
      • Rebalance Frequency

        Monthly
    • Index Fundamentals4
      as of 02/10/16

      • Yield to Worst

        1.61%
      • Yield to Maturity

        1.61%
      • Effective Duration (yrs)

        0.09
      • Modified Duration (yrs)

        0.13
      • Spread Duration (yrs)

        2.76
      • Years to Maturity

        2.85
      • Coupon

        1.28%
       4 See Important Disclosure for definitions.
    • Top 10 Constituents (%)as of 01/31/16

      Total Constituents: 294
      Constituent Name
      Coupon
      Maturity Weighting (%)
      Goldman Sachs Group Inc
      1.341
      11/15/2018
      1.99
      Apple Inc
      0.516
      05/03/2018
      1.91
      Goldman Sachs Group Inc
      1.838
      11/29/2023
      1.73
      Verizon Communications
      2.002
      09/14/2018
      1.72
      Goldman Sachs Group Inc
      1.417
      04/23/2020
      1.24
      Goldman Sachs Group Inc
      1.465
      04/30/2018
      1.20
      Jpmorgan Chase & Co
      1.212
      01/23/2020
      1.10
      Ibm Corp
      0.000
      11/06/2021
      1.05
      Westpac Banking Corp
      1.118
      11/23/2018
      0.96
      Morgan Stanley
      0.000
      01/01/1900
      0.96
      Top 10 Total (%)13.86
      These are not recommendations to buy or to sell any security. Securities and holdings may vary.
    • Index Country Weightings (%) as of 01/31/16

      • Country

        % of Net Assets
      • UNITED STATES

        60.73
      • AUSTRALIA

        8.48
      • CANADA

        7.02
      • JAPAN

        5.45
      • NETHERLANDS

        3.64
      • FRANCE

        2.62
      • SWITZERLAND

        2.54
      • UNITED KINGDOM

        2.40
      • GERMANY

        2.06
      • CHINA

        1.40
      • NORWAY

        1.33
      • SWEDEN

        1.02
      • SINGAPORE

        0.48
      • SOUTH KOREA

        0.44
      • SPAIN

        0.15
      • CHILE

        0.15
      • MEXICO

        0.10
      • OTHERS

        0.00
    • Index Sector Weightings (%) as of 01/31/16

      • Sector

        % of Net Assets
      • Financial

        67.3
      • Energy

        8.1
      • Technology

        7.5
      • Communications

        5.7
      • Consumer, Non-cyclical

        5.0
      • Consumer, Cyclical

        4.4
      • Industrial

        1.3
      • Basic Materials

        0.4
      • Utilities

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

      Composite % of Net Assets
      Investment Grade AAA 3.64
      AA 29.14
      A 52.31
      BBB 14.67
      Total Investment Grade -- 99.76
      Not Rated -- 0.24
      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.
    • Maturity (%) as of 01/31/16

      Average Maturity: 2.86 Years