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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 Provider: Barclays

    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
    • Commencement

      02/04/2009
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMEHTR
    • Index Rebalancing

      Monthly
    • Preliminary NAIC
      Designation7

      4
  •  
    as of 09/22/14

    • 30-Day SEC Yield1

      4.64%
    • Total Net Assets

      $1.2B
    • Number of Holdings

      649
    • Options

      Available
    • Gross Expense Ratio2

      0.35%
    • Net Expense Ratio/TER2

      0.35%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      09/30/2014

    1, 2, 7 See Important Disclosure

  • Morningstar™ Ratings3
    as of 8/31/14

    Category Overall 3 Year 5 Year
    High Yield Muni
       
    3 stars of 153 Funds
        
    4 stars of 153 Funds
       
    3 stars of 133 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 09/22/14

    • 30-Day SEC Yield1

      4.64%
    • Distribution Yield1

      4.95%
    • 12-Month Yield1

      5.22%
    • Taxable Equivalent 30-Day SEC Yields1a

    • Federal Tax Rate of 15%

      5.45%
    • Federal Tax Rate of 25%

      6.18%
    • Federal Tax Rate of 28%

      6.44%
    • Federal Tax Rate of 33%

      6.92%
    • Federal Tax Rate of 39.6%

      7.67%
     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/TER2

      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. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio".
  • Trading Information

    • Fund Ticker

      HYD
    • Index Total Return Ticker

      LMEHTR
    • NAV

      HYDNV
    • Intraday NAV (IIV)5

      HYDIV
    • Shares Outstanding

      38,300,000
    • Estimated Cash

      HYDEU
    • Total Cash

      HYDTC
    • CUSIP

      57060U878
    • ISIN

      US57060U8788
    5See IIV Details. Source: Bloomberg
  • Fundamentals4
    as of 09/22/14

    • Yield to Worst

      5.32%
    • Yield to Maturity

      5.76%
    • Effective Duration (yrs)

      10.51
    • Modified Duration (yrs)

      10.03
    • Duration to Worst (yrs)

      6.77
    • Spread Duration (yrs)

      7.06
    • Years to Maturity

      21.68
    • Coupon

      5.63%
    • AMT

      12.89%
     4 See Important Disclosure for definitions.
  • Prices as of 09/22/2014

    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
    HYD $30.66
    $30.63
    228,669
    2,072,268
    $0.03 / +0.10%
    $0.02 / +0.07%
    + 10.4%
    + 11.2%

    $-0.03
    -0.10%
  • 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) 1.66 1.45 11.69 12.39 7.12 7.63 -- 9.62
    HYD (Share Price) 2.16 1.69 12.87 15.01 7.04 7.40 -- 9.65
    LMEHTR (Index) 1.61 1.67 12.41 15.05 7.99 9.36 -- 10.94
    Performance Differential (NAV - Index) 0.05 -0.22 -0.72 -2.66 -0.87 -1.73 -- -1.32
    After Tax Held -- -- -- 12.29 -- 7.56 -- 9.55
    After Tax Sold -- -- -- 9.60 -- 7.25 -- 8.94
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    02/04/09
    HYD (NAV) -0.53 3.77 9.51 4.15 6.92 8.45 -- 9.53
    HYD (Share Price) -0.82 3.36 10.08 4.79 6.83 7.91 -- 9.46
    LMEHTR (Index) -0.29 3.96 10.24 5.63 7.89 9.81 -- 10.91
    Performance Differential (NAV - Index) -0.24 -0.19 -0.73 -1.48 -0.97 -1.36 -- -1.38
    After Tax Held -- -- -- 4.06 -- 8.38 -- 9.47
    After Tax Sold -- -- -- 4.83 -- 7.96 -- 8.88
  • View All Holdings »Top 10 Holdings (%)as of 08/31/14

    Total Holdings: 619
    Holding Name
    Coupon
    Maturity
    Composite
    Rating
    State
    Currency
    % of Net
    Assets
    Overland Park Development Corp
    5.125
    01/01/2032
    BB
    KS
    USD
    1.52
    Texas Municipal Gas Acquisition & Suppl
    6.250
    12/15/2026
    BBB+
    TX
    USD
    1.02
    Salt Verde Financial Corp
    5.000
    12/01/2037
    BBB+
    AZ
    USD
    0.99
    Sanger Industrial Development Corp
    8.000
    07/01/2038
    NR
    TX
    USD
    0.94
    County Of Jefferson Al Sewer Revenue
    6.500
    10/01/2053
    BB+
    AL
    USD
    0.92
    Foothill-Eastern Transportation Corrido
    5.500
    01/15/2053
    BB+
    CA
    USD
    0.90
    Metropolitan Washington Airports Author
    5.000
    10/01/2053
    BBB+
    DC
    USD
    0.84
    South Carolina Jobs-Economic Developmen
    5.250
    11/01/2036
    NR
    SC
    USD
    0.78
    Buckeye Tobacco Settlement Financing Au
    5.125
    06/01/2024
    B-
    OH
    USD
    0.72
    New Jersey Economic Development Authori
    6.625
    01/01/2037
    NR
    NJ
    USD
    0.71
    Top 10 Total (%)9.34

    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 08/31/14

    • State

      % of Net Assets
    • CA

      9.0
    • TX

      6.9
    • NY

      6.9
    • FL

      6.2
    • OH

      5.3
    • NJ

      5.2
    • IL

      4.6
    • AZ

      3.9
    • PR

      3.8
    • VA

      3.6
    • MI

      3.5
    • IN

      3.4
    • PA

      2.9
    • AL

      2.6
    • KS

      2.3
    • IA

      2.1
    • CO

      2.0
    • KY

      1.9
    • DC

      1.9
    • WA

      1.7
    • Other

      20.2
  • Currency Exposure (%)
    as of 08/31/14

    • U.S. Dollar

      99.98
    • Other

      0.02
    • Total

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

    • Sector

      % of Net Assets
    • IDR/PCR

      35.8
    • Health Care Facilities

      30.6
    • Transportation

      11.3
    • Education

      6.1
    • Special Tax

      5.0
    • Water Utilities

      3.8
    • Leasing

      1.9
    • State General

      1.4
    • Power Utilities

      1.3
    • Local General

      0.9
    • Housing

      0.7
  • Credit Quality (%)
    as of 08/31/14

    Composite % of Net Assets
    Investment Grade AA 0.09
    A 0.69
    BBB 24.84
    Non-Investment Grade BB 21.32
    B 18.58
    CCC 2.42
    Total Investment Grade 25.61
    Total Non-Investment Grade 42.32
    Not Rated 27.95
    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 08/31/14

    Average Portfolio Maturity: 21.72 Years