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Pre-Refunded Municipal Index ETF PRB

  • Full Name: Market Vectors®
    Pre-Refunded Municipal Index ETF (PRB®)

    Management Style: Sampling

    Underlying Index: The Barclays Municipal Pre-Refunded Treasury-Escrowed Index (LMPETR)

    Index Provider: Barclays

    Index Description: LMPETR is a market value weighted Index comprised of pre-refunded and/or escrowed-to-maturity municipal bonds, provided that the collateral in the escrow account is comprised strictly of obligations of, and carry the full faith and credit of, the U.S. Treasury. To be included in the Index, bonds must have an explicit or implicit credit rating of AAA.

  •  
      

    • Fund Ticker

      PRB
    • Exchange

      NYSE Arca
    • Commencement

      02/02/2009
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMPETR
    • Index Rebalancing

      Monthly
  •  
    as of 10/21/14

    • 30-Day SEC Yield1

      0.40%
    • Total Net Assets

      $27.2M
    • Number of Holdings

      63
    • Options

      Expected
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      10/31/2014
  • Index Key Points

    The Barclays Municipal Pre-Refunded Treasury-Escrowed Index (LMPETR) is comprised of: 

    Pre-refunded and escrowed-to-maturity bonds (ETMs) with underlying collateral comprised solely of U.S. Treasuries and U.S. Treasury-issued State and Local Government Series bonds (SLGs).

    Issues eligible for inclusion in Index:  

    • Nominal maturity of 1-30 years.
    • Outstanding par value of at least $7 million.
    • Issued as part of transaction of at least $75 million in value.
    • Fixed rate coupon and denominated in U.S. dollars.

      Index Provider: Barclays

    • Index Profile
       

      • Ticker

        LMPETR
      • Inception Date

        12/16/2008
      • Rebalance Frequency

        Monthly
    • Index Fundamentals4
      as of 10/21/14

      • Yield to Worst

        0.61%
      • Yield to Maturity

        0.63%
      • Effective Duration (yrs)

        2.67
      • Modified Duration (yrs)

        2.71
      • Duration to Worst (yrs)

        2.60
      • Spread Duration (yrs)

        2.71
      • Years to Maturity

        3.00
      • Coupon

        4.96%
       4 See Important Disclosure for definitions.
    • Top 10 Constituents (%)as of 09/30/14

      Total Constituents: 1885
      Constituent Name
      Coupon
      Maturity Weighting (%)
      MASSACHUSETTS ST SCH BLDG AUTH
      5.000
      08/15/2030
      1.08
      IL Toll Hwy Auth Toll
      5.000
      01/01/2031
      0.61
      NJ Tpk Auth Tpk Rev
      6.000
      01/01/2016
      0.59
      Sacramento Co, CA Santn Di
      5.000
      12/01/2035
      0.59
      Regional Transn Dist, CO Sale
      5.000
      11/01/2036
      0.57
      MA Water Res Auth
      6.000
      07/15/2019
      0.51
      LA Gas & Fuels Tax Rev
      5.000
      05/01/2035
      0.50
      Louisville & Jefferson Co, KY
      6.000
      02/01/2037
      0.49
      PR Comwlth Hwy & Tran
      5.000
      07/01/2036
      0.45
      CA Infrastructure & Ec
      5.000
      07/01/2033
      0.45
      Top 10 Total (%)5.84
      These are not recommendations to buy or to sell any security. Securities and holdings may vary.
    • Index Geographical Weightings (%)
      as of 09/30/14

      • State

        % of Net Assets
      • CA

        15.7
      • TX

        9.9
      • MA

        7.7
      • WA

        6.5
      • NY

        5.6
      • MD

        4.5
      • IL

        4.4
      • NJ

        4.1
      • CO

        3.9
      • VA

        3.1
      • FL

        2.8
      • NC

        2.6
      • PA

        2.2
      • PR

        2.2
      • TN

        2.1
      • LA

        2.1
      • AL

        2.0
      • OR

        1.9
      • GA

        1.9
      • WI

        1.6
    • Index Sector Weightings (%)
      as of 09/30/14

      • Sector

        % of Net Assets
      • State General

        22.4
      • Local General

        19.0
      • Transportation

        18.0
      • Education

        8.4
      • Special Tax

        7.3
      • Water Utilities

        7.3
      • Leasing

        7.0
      • Health Care Facilities

        6.7
      • Power Utilities

        2.9
      • Resource Recovery

        0.6
      • Housing

        0.4
      • IDR/PCR

        0.1
    • Maturity (%) as of 09/30/14

      Average Maturity: 10.86 Years