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Investment Grade Floating Rate ETF FLTR

  • Full Name: Market Vectors®
    Investment Grade Floating Rate ETF (FLTR®)

    Management Style: Sampling

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

    Index Description: MVFLTR 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
    • Index Total Return Ticker

      MVFLTR
    • Index Provider

      Market Vectors Index Solutions
    • Total Net Assets

      $97.5M
    • Shares Outstanding

      3,900,000
    • Number of Holdings

      158
    • Commencement Date

      04/25/2011
  •  
    as of 04/16/14

    • 30-Day SEC Yield1

      0.43%
    • Distribution Frequency

      Monthly
    • Gross Expense Ratio2

      1.48%
    • Net Expense Ratio2

      0.19%
    • Options

      Expected
    • Preliminary NAIC Designation8

      1
    • Management Team »
    • FLTR Fact Sheet »
    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 04/14/14

    • Yield to Worst

      0.81%
    • Yield to Maturity

      0.81%
    • Effective Duration (yrs)

      0.10
    • Modified Duration (yrs)

      0.13
    • Spread Duration (yrs)

      3.06
    • Years to Maturity

      -0.29
    • Coupon

      0.98%
     4 See Important Disclosure for definitions.
  • Top 10 Constituents (%) as of 03/31/14

    Total Constituents: 260
    Constituent Name
    Coupon
    Maturity Weighting (%)
    Jpmorgan Chase & Co
    1.166
    01/25/2018
    2.00
    Apple Inc
    0.516
    05/03/2018
    1.86
    Jpmorgan Chase & Co
    2.363
    11/18/2016
    1.73
    Verizon Communications
    2.002
    09/14/2018
    1.72
    Jpmorgan Chase & Co
    0.000
    1.63
    Goldman Sachs Group Inc
    1.341
    11/15/2018
    1.60
    Abn Amro Bank Nv
    1.036
    10/28/2016
    1.40
    Petrobras Global Finance
    2.408
    01/15/2019
    1.36
    Goldman Sachs Group Inc
    1.465
    04/30/2018
    1.18
    Westpac Banking Corp
    0.668
    11/25/2016
    1.17
    Top 10 Total (%) 15.65
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Index Country Weightings (%)
    as of 03/31/14

    • Country

      % of Net Assets
    • U.S.

      60.2
    • CANADA

      8.7
    • AUSTRALIA

      7.1
    • NETHERLANDS

      4.9
    • FRANCE

      3.9
    • UNITED KINGDOM

      3.2
    • JAPAN

      3.1
    • GERMANY

      2.2
    • SOUTH KOREA

      2.2
    • BRAZIL

      1.6
    • NORWAY

      1.2
    • SWEDEN

      1.1
    • SWITZERLAND

      0.4
    • MEXICO

      0.2
    • Total

      100.0
  • Index Sector Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • Financial

      77.5
    • Energy

      6.5
    • Technology

      4.6
    • Communications

      4.2
    • Consumer, Non-cyclical

      4.0
    • Consumer, Cyclical

      1.8
    • Utilities

      0.7
    • Industrial

      0.5
    • Basic Materials

      0.3
    • OTHERS

      0.0
    • Total

      100.1
  • Index Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    Investment Grade AAA 1.42
    AA 29.58
    A 54.00
    BBB 13.70
    Total Investment Grade 98.69
    Not Rated 1.31
    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 03/31/14

    Average Maturity: 1.72 Years