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International High Yield Bond ETF IHY

  • Full Name: Market Vectors®
    International High Yield Bond ETF (IHY)

    Management Style: Sampling

    Underlying Index: The BofA Merrill Lynch Global ex-US Issuers High Yield Constrained Index (HXUS)

    Index Provider: BofA Merrill Lynch

    Index Description: HXUS is comprised of below investment-grade debt issued by corporations located throughout the world (which may include emerging market countries) excluding the United States denominated in Euros, U.S. dollars, Canadian dollars or pound sterling issued in the major domestic or Eurobond markets.

  •  
      

    • Fund Ticker

      IHY
    • Exchange

      NYSE Arca
    • Commencement

      04/02/2012
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      HXUS
    • Index Rebalancing

      Monthly
    • Preliminary NAIC
      Designation7

      3
  •  
    as of 10/21/14

    • 30-Day SEC Yield1

      5.30%
    • Total Net Assets

      $204.5M
    • Number of Holdings

      503
    • Options

      Expected
    • Gross Expense Ratio2

      0.58%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      10/31/2014
    1, 2, 7 See Important Disclosure
  • About Securities Lending


    Market Vectors Exchange Traded Funds (ETFs) may lend securities to generate additional income which may help reduce expenses. All net proceeds earned by Market Vectors ETFs in the securities lending process are allocated to the applicable ETF after subtracting fees payable to the lending agent.

      

    Securities lending is an established practice that involves the lending of securities from a lender (“Fund”) to a third-party (“Borrower”). In return, the Borrower posts collateral — typically cash or U.S. Government securities — in an amount equal to at least 102% of the value of the borrowed securities. Over the course of the loan term, the Fund will receive any interest or dividends on the securities loaned. Moreover, the Borrower will pay a fee, as well as any interest earned on the investment of the cash collateral.

     

    The primary risk in securities lending is that a Borrower may default on its commitment to return securities that are on loan. If this occurs and the value of the liquidated collateral does not exceed the cost of repurchasing the securities, the Fund may suffer a loss with respect to the shortfall. This risk and others are described in more detail in the statutory prospectus, under "Lending Portfolio Securities".

  • Additional Resources

  • All Collateral HoldingsTop 10 Collateral Holdingsas of 07/31/14

    Security
    ISIN
    SEDOL
    Country
    Investment Type
    Weight %
    Citigroup Global Markets Inc, 0.09%, 08/01/2014
    --
    --
    United States
    Repurchase Agreement
    23.75
    HSBC Securities Usa Inc., 0.07%, 08/01/2014
    --
    --
    United States
    Repurchase Agreement
    23.75
    Merrill Lynch Pierce Fenner & Smith Inc., 0.09%, 08/01/2014
    --
    --
    United States
    Repurchase Agreement
    23.75
    Mizuho Securities Usa, Inc., 0.09%, 08/01/2014
    --
    --
    United States
    Repurchase Agreement
    23.75
    Jp Morgan Securities Llc, 0.06%, 08/01/2014
    --
    --
    United States
    Repurchase Agreement
    4.99
  • Securities Lending Summary
    as of 09/30/14

    Data Point %
    Securities Lending Return (% of AUM, YTD) 0.03
    Average On-Loan (% of AUM, YTD) 8.62
    Maximum On-Loan (% of AUM, YTD) 33.00
    Collateralization (% of Loan, YTD) 103.56
  • Loan/Collateral Combinations and Collateral Levels

    Loan Type Collateral Level
    Equities and Fixed Income  
    Domestic  102%
    Foreign  105%