• Ticker:- PRB;true;LMPETR;
  • 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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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 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
    • Index Total Return Ticker

      LMPETR
    • Index Provider

      Barclays
    • Total Net Assets

      $34.6M
    • Shares Outstanding

      1,400,000
    • Number of Holdings

      58
    • Commencement Date

      02/02/2009
  •  
    as of 04/23/14

  • Geographical Weightings (%)
    as of 03/31/14

    • State

      % of Net Assets
    • NJ

      21.7
    • CO

      15.4
    • IL

      8.7
    • WA

      7.9
    • TX

      6.7
    • MA

      5.9
    • CA

      5.5
    • SC

      4.8
    • VA

      3.5
    • PR

      3.3
    • HI

      2.5
    • NC

      2.2
    • AZ

      1.9
    • GA

      1.8
    • FL

      1.6
    • MD

      1.5
    • UT

      1.5
    • NY

      1.0
    • NV

      0.8
    • KY

      0.8
    • Other

      1.1
    • Total

      100.1
  • Portfolio Composition (%)
    as of 03/31/14

    • % of Net Assets

    • Stocks

      0.00
    • Bonds

      98.90
    • Other

      0.00
    • Cash

      1.10
    • Total

      100.00
  • Currency Exposure (%)
    as of 03/31/14

    • U.S. Dollar

      98.90
    • Other

      1.10
    • Total

      100.00
  • Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    Investment Grade AAA 15.83
    AA 47.69
    A 12.15
    BBB 8.90
    Total Investment Grade 84.57
    Total Not rated 14.31
    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.
  • 3-YR Risk Measures*
    as of 03/31/14

    • Beta vs. S&P 500 Index

      -0.01
    • Correlation vs. S&P 500 Index

      -0.07
    • Volatility (Standard Deviation)

      2.03
    • Sharpe Ratio

      0.48

    Source: Van Eck Global, FactSet

    *Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6

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

    • Sector

      % of Net Assets
    • Leasing

      32.5
    • Transportation

      15.9
    • Health Care Facilities

      15.3
    • State General

      11.8
    • Special Tax

      8.8
    • Local General

      7.6
    • Education

      3.7
    • Power Utilities

      1.9
    • Water Utilities

      1.5
    • Cash

      1.1
    • Total

      100.1