Individual Investors

Subscribe to email updates

Subscribe now

Financial Professionals

Subscribe to email updates, or password protected financial professional-only content
email address/username
password

Short Municipal Index ETF SMB

  • Full Name: Market Vectors®
    Short Municipal Index ETF (SMB)

    Management Style: Sampling

    Underlying Index: The Barclays AMT-Free Short Continuous Municipal Index (LMT1TR)

    Index Description: LMT1TR is a market value weighted index designed to replicate the price movements of short-duration bonds with a nominal maturity of 1-6 years.

  •  
     

    • Fund Ticker

      SMB
    • Exchange

      NYSE Arca
    • Index Total Return Ticker

      LMT1TR
    • Index Provider

      Barclays
    • Total Net Assets

      $245.9M
    • Shares Outstanding

      13,950,000
    • Number of Holdings

      278
    • Commencement Date

      02/22/2008
  •  
    as of 04/16/14

  • Index Key Points

    The Barclays AMT-Free Short Continuous Municipal Index (LMT1TR) is comprised of: 

    Four main sectors: general obligation bonds, revenue bonds, insured bonds and pre-refunded bonds.

    Issues eligible for inclusion in Index:  

    • Have a nominal maturity of 1-6 years.
    • Have a dated-date within the last 5 years.
    • Rated investment grade.
    • AMT-free.
    • Have an outstanding par value of at least $7 million.
    • Issued as part of a transaction of at least $75 million.
    • Fixed rate.

        Index Provider: Barclays

  • Index Profile
     

    • Ticker

      LMT1TR
    • Inception Date

      11/05/2007
    • Rebalance Frequency

      Monthly
  • Index Fundamentals4
    as of 04/15/14

    • Yield to Worst

      1.02%
    • Yield to Maturity

      1.07%
    • Effective Duration (yrs)

      3.22
    • Modified Duration (yrs)

      3.23
    • Duration to Worst (yrs)

      3.21
    • Spread Duration (yrs)

      3.23
    • Years to Maturity

      4.60
    • Coupon

      4.76%
     4 See Important Disclosure for definitions.
  • Top 10 Constituents (%) as of 03/31/14

    Total Constituents: 6335
    Constituent Name
    Coupon
    Maturity Weighting (%)
    CALIFORNIA ST DEPT WTR RES PWR
    5.000
    05/01/2019
    0.45
    CALIFORNIA ST ECONOMIC RECOVER
    5.000
    07/01/2018
    0.44
    CALIFORNIA ST ECONOMIC RECOVER
    5.000
    07/01/2019
    0.32
    CALIFORNIA ST DEPT WTR RES PWR
    5.000
    05/01/2017
    0.29
    California State
    5.000
    04/01/2019
    0.25
    CITIZENS PPTY INS CORP FLA
    5.000
    06/01/2017
    0.25
    FLORIDA HURRICANE CATASTROPHE
    5.000
    07/01/2016
    0.24
    CITIZENS PPTY INS CORP FLA
    5.000
    06/01/2015
    0.24
    FLORIDA HURRICANE CATASTROPHE
    5.000
    07/01/2015
    0.24
    CITIZENS PPTY INS CORP FLA
    6.000
    06/01/2016
    0.21
    Top 10 Total (%) 2.93
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Index Geographical Weightings (%)
    as of 03/31/14

    • State

      % of Net Assets
    • NY

      16.6
    • CA

      15.1
    • FL

      6.6
    • TX

      5.4
    • PA

      4.2
    • IL

      4.2
    • WA

      3.8
    • MD

      3.6
    • NJ

      3.5
    • OH

      3.3
    • GA

      3.0
    • NC

      2.9
    • MA

      2.4
    • VA

      2.3
    • MI

      2.1
    • MN

      1.8
    • WI

      1.7
    • AZ

      1.7
    • CT

      1.5
    • TN

      1.4
    • Total

      87.1
  • Index Sector Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • State General

      25.1
    • Special Tax

      16.1
    • Local General

      13.3
    • Transportation

      11.5
    • Power Utilities

      8.0
    • Leasing

      6.0
    • Water Utilities

      5.8
    • Education

      5.7
    • Health Care Facilities

      4.0
    • IDR/PCR

      3.6
    • Housing

      0.6
    • Resource Recovery

      0.4
    • Total

      100.1
  • Index Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    AAA 19.87
    AA 52.34
    A 24.69
    BAA 3.10
    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 03/31/14

    Average Maturity: 4.62 Years