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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 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
    • Index Total Return Ticker

      HXUS
    • Index Provider

      BofA Merrill Lynch
    • Total Net Assets

      $160.4M
    • Shares Outstanding

      5,800,000
    • Number of Holdings

      398
    • Commencement Date

      04/02/2012
  •  
    as of 04/24/14

    • 30-Day SEC Yield1

      4.30%
    • Distribution Frequency

      Monthly
    • Gross Expense Ratio2

      0.52%
    • Net Expense Ratio2

      0.40%
    • Options

      Expected
    • Preliminary NAIC Designation7

      3
    • Management Team »
    • IHY Fact Sheet »
    1, 2, 7 See Important Disclosure
  • Index Key Points

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

    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 pounds sterling issued in the major domestic or Eurobond markets.

    Index Weighting:
    Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. Similarly, the face value of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis.

    Index Provider: BofA Merrill Lynch

  • Index Profile
     

    • Ticker

      HXUS
    • Inception Date

      03/20/2012
    • Rebalance Frequency

      Monthly
  • Index Fundamentals4
    as of 04/23/14

    • Yield to Worst

      5.25%
    • Yield to Maturity

      5.84%
    • Effective Duration (yrs)

      3.64
    • Modified Duration (yrs)

      4.20
    • Years to Maturity

      5.42
    • Coupon

      7.06%
     4 See Important Disclosure for definitions.
  • Top 10 Constituents (%) as of 03/31/14

    Total Constituents: 1548
    Constituent Name
    Coupon
    Maturity Weighting (%)
    Petroleos De Venezuela S
    8.500
    11/02/2017
    0.56
    Barclays Bank Plc
    7.625
    11/21/2022
    0.36
    Royal Bk Of Scotland Plc
    0.000
    0.35
    Lloyds Tsb Bank Plc
    12.000
    12/29/2049
    0.29
    Petroleos De Venezuela S
    12.750
    02/17/2022
    0.29
    Wind Acquisition Fin Sa
    7.375
    02/15/2018
    0.27
    Petroleos De Venezuela S
    0.000
    0.27
    Softbank Corp
    4.500
    04/15/2020
    0.26
    Credit Suisse Group Ag
    7.500
    12/11/2049
    0.26
    Royal Bk Scotlnd Grp Plc
    6.125
    12/15/2022
    0.25
    Top 10 Total (%) 3.16
    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
    • UNITED KINGDOM

      12.1
    • ITALY

      11.5
    • FRANCE

      9.1
    • GERMANY

      7.8
    • CANADA

      5.0
    • LUXEMBOURG

      4.5
    • RUSSIA

      4.3
    • CHINA

      4.2
    • SPAIN

      3.9
    • BRAZIL

      3.8
    • NETHERLANDS

      2.9
    • PORTUGAL

      2.8
    • MEXICO

      2.3
    • VENEZUELA

      1.8
    • INDONESIA

      1.4
    • NA / UNDEFINED

      1.2
    • SWITZERLAND

      1.1
    • AUSTRALIA

      1.0
    • IRELAND

      0.9
    • COLOMBIA

      0.8
    • OTHERS

      17.4
    • Total

      99.8
  • Index Sector Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • Financial

      29.4
    • Communications

      16.8
    • Industrial

      12.9
    • Basic Materials

      10.5
    • Consumer, Cyclical

      9.6
    • Energy

      6.8
    • Consumer, Non-cyclical

      6.5
    • Utilities

      4.9
    • Diversified

      1.7
    • Technology

      0.7
    • OTHERS

      0.2
    • Total

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

    Composite % of Net Assets
    Investment Grade BBB 0.53
    Non-Investment Grade BB 57.30
    B 27.49
    CCC 5.55
    CC 0.28
    C 0.21
    DDD 0.06
    Total Investment Grade 0.53
    Total Non-Investment Grade 90.89
    Not Rated 8.58
    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: 5.45 Years