• Ticker:- HYD;true;LMEHTR;
  • Ticker Group:- ETFFI_MI;false;;
  • Making News

    InvestmentNews: Muni Bond Fund Rebound Appears to Have Legs


    3/13/14: InvestmentNews’ Carol O’Donnell suggests that municipal bonds may be worthwhile for investors to examine despite poor performance during 2013. According to James Colby, municipal bond supply is normalizing and “The question is whether demand is healthy enough to absorb these additional sales without a drop in price.”

    View article » 



    The WSJ: Detroit Rattles Muni Market


    8/07/13: In light of Detroit’s recent default, The Wall Street Journal considers the wider implications of replacing older bonds with new ones that have different terms, as the city’s emergency manager suggests doing. James Colby opines, “You really break the foundation of debt markets if municipalities can freely restructure their obligations.”

    View article » 



    ETF Trends: Sell-Off in Municipal Bond ETFs May be Overdone


    6/18/13: Tom Lydon considers the shift some investors have made away from municipal bond ETFs due to anxiety about higher interest rates. It may be an “overreaction,” he writes. Lydon suggests investing in SMB and consults James Colby, who contends that “muni bonds offer attractive taxable equivalent yields.”

    View article » 



    WSJ: Should You Buy Taxable Muni Bonds?


    06/05/13: According to The Wall Street Journal, institutional investors and mutual funds that can’t capitalize on tax breaks are buying taxable munis, but MV’s James Colby says, “I don’t doubt for a moment that some of these bonds are finding their way into individual accounts.”

    View article » 



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High-Yield Municipal Index ETF HYD

  • Full Name: Market Vectors®
    High-Yield Municipal Index ETF (HYD®)

    Management Style: Sampling

    Underlying Index: The Barclays Municipal Custom High Yield Composite Index (LMEHTR)

    Index Description: LMEHTR 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

      HYD
    • Exchange

      NYSE Arca
    • Index Total Return Ticker

      LMEHTR
    • Index Provider

      Barclays
    • Total Net Assets

      $927.2M
    • Shares Outstanding

      31,300,000
    • Number of Holdings

      523
    • Commencement Date

      02/04/2009
  •  
    as of 04/16/14

    • 30-Day SEC Yield1

      5.56%
    • Distribution Frequency

      Monthly
    • Gross Expense Ratio2

      0.35%
    • Net Expense Ratio2

      0.35%
    • Options

      Available
    • Preliminary NAIC Designation7

      4
    • Management Team »
    • HYD Fact Sheet »

    1, 2, 7 See Important Disclosure

  • Morningstar™ Ratings3
    as of 3/31/14

    Category Overall 3 Year 5 Year
    High Yield Muni
       
    3 stars of 153 Funds
       
    3 stars of 153 Funds
       
    3 stars of 123 Funds
  • Key Points

    • High-Yield Muni Focus
      Underlying Index comprised of highest-yielding municipal bonds with income generally exempt from federal taxes

    • Enhanced Liquidity Feature
      Index includes 25% BBB investment-grade exposure for enhanced liquidity

    • Diverse Sector Exposure and Low Default Rates
      Index covers wide range of muni sectors and securities with historically low default rates
  • Yields
    as of 04/16/14

    • 30-Day SEC Yield1

      5.56%
    • Distribution Yield1

      5.47%
    • 12-Month Yield1

      5.72%
    • Taxable Equivalent 30-Day SEC Yields1a

    • Federal Tax Rate of 15%

      6.54%
    • Federal Tax Rate of 25%

      7.41%
    • Federal Tax Rate of 28%

      7.72%
    • Federal Tax Rate of 33%

      8.30%
    • Federal Tax Rate of 39.6%

      9.21%
     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

      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.
  • Trading Information

    • Fund Ticker

      HYD
    • Index Total Return Ticker

      LMEHTR
    • NAV

      HYDNV
    • Intraday NAV (IIV)5

      HYDIV
    • Shares Outstanding

      31,300,000
    • Estimated Cash

      HYDEU
    • Total Cash

      HYDTC
    • CUSIP

      57060U878
    • ISIN

      US57060U8788
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 04/15/14

    • Yield to Worst

      6.07%
    • Yield to Maturity

      6.32%
    • Effective Duration (yrs)

      10.59
    • Modified Duration (yrs)

      10.04
    • Duration to Worst (yrs)

      7.91
    • Spread Duration (yrs)

      6.93
    • Years to Maturity

      21.72
    • Coupon

      5.77%
    • AMT

      13.75%
     4 See Important Disclosure for definitions.
  • Prices as of 04/16/14

    TickerNAV/
    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
    HYD $29.62
    $29.67
    401,379
    0
    $0.03 / +0.1%
    $0.00 / +0.0%
    + 4.0%
    + 5.0%

    $0.05
    0.16%
  • 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
    02/04/09
    HYD (NAV) 0.41 5.53 5.53 -5.22 7.39 9.24 -- 9.23
    HYD (Share Price) 1.13 6.51 6.51 -4.48 7.17 8.69 -- 9.24
    LMEHTR (Index) 0.55 6.04 6.04 -2.57 8.46 10.92 -- 10.63
    Performance Differential (NAV - Index) -0.14 -0.51 -0.51 -2.65 -1.07 -1.68 -- -1.40
    After Tax Held -- -- -- -5.30 -- 9.17 -- 9.16
    After Tax Sold -- -- -- -0.59 -- 8.68 -- 8.66
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/04/09
    HYD (NAV) 0.41 5.53 5.53 -5.22 7.39 9.24 -- 9.23
    HYD (Share Price) 1.13 6.51 6.51 -4.48 7.17 8.69 -- 9.24
    LMEHTR (Index) 0.55 6.04 6.04 -2.57 8.46 10.92 -- 10.63
    Performance Differential (NAV - Index) -0.14 -0.51 -0.51 -2.65 -1.07 -1.68 -- -1.40
    After Tax Held -- -- -- -5.30 -- 9.17 -- 9.16
    After Tax Sold -- -- -- -0.59 -- 8.68 -- 8.66
  • View All Holdings » Top 10 Holdings (%) as of 03/31/14

    Total Holdings: 513
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    State
    Currency
    % of Net
    Assets
    Overland Park Development Corp
    5.125
    01/01/2032
    BB
    KS
    USD
    2.17
    Illinois Finance Authority
    8.000
    05/15/2046
    NR
    IL
    USD
    1.24
    Sanger Industrial Development Corp
    8.000
    07/01/2038
    NR
    TX
    USD
    1.22
    South Carolina Jobs-Economic Developmen
    5.250
    11/01/2036
    NR
    SC
    USD
    1.01
    New Jersey Economic Development Authori
    6.625
    01/01/2037
    NR
    NJ
    USD
    0.96
    Washington State Housing Finan
    5.625
    01/01/2038
    NR
    WA
    USD
    0.91
    County Of Ohio Ky
    6.000
    07/15/2031
    BB-
    KY
    USD
    0.88
    Tobacco Settlement Financing Corp/Nj
    5.000
    06/01/2029
    B-
    NJ
    USD
    0.69
    California Pollution Control Financing
    5.000
    07/01/2037
    BBB-
    CA
    USD
    0.69
    Southeastern Ohio Port Authority
    6.000
    12/01/2042
    NR
    OH
    USD
    0.68
    Top 10 Total (%) 10.45

    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 03/31/14

    • State

      % of Net Assets
    • CA

      7.7
    • PR

      7.3
    • FL

      6.8
    • NY

      6.4
    • TX

      6.3
    • NJ

      5.8
    • OH

      5.7
    • IL

      5.2
    • AZ

      3.3
    • VA

      3.0
    • KS

      2.9
    • IN

      2.8
    • MI

      2.4
    • WA

      2.4
    • PA

      2.3
    • CO

      2.2
    • SC

      1.8
    • AL

      1.7
    • WV

      1.7
    • KY

      1.6
    • Other

      20.7
    • Total

      100.0
  • Currency Exposure (%)
    as of 03/31/14

    • U.S. Dollar

      99.08
    • Other

      0.92
    • Total

      100.00
  • Sector Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • Health Care Facilities

      37.9
    • IDR/PCR

      30.2
    • Education

      8.0
    • Special Tax

      6.2
    • Transportation

      5.6
    • Water Utilities

      3.4
    • Leasing

      2.5
    • Power Utilities

      2.3
    • State General

      1.5
    • Cash

      0.9
    • Housing

      0.8
    • Local General

      0.7
    • Total

      100.0
  • Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    Investment Grade A 0.79
    BBB 18.40
    Non-Investment Grade BB 26.87
    B 13.89
    CCC 2.14
    Total Investment Grade 19.19
    Total Non-Investment Grade 42.89
    Total Not rated 36.98
    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 03/31/14

    Average Portfolio Maturity: 21.74 Years