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Treasury-Hedged High Yield Bond ETF THHY

  • Full Name: Market Vectors®
    Treasury-Hedged High Yield Bond ETF (THHY)

    Management Style: Sampling

    Underlying Index: The Market Vectors® US Treasury-Hedged High Yield Bond Index (MVTHHY)

    Index Provider: Market Vectors Index Solutions

    Index Description: MVTHHY is designed to provide exposure to below investment grade corporate bonds, denominated in U.S. dollars; that are, through the use of Treasury notes, hedged against rising interest rates.

  •  
      

    • Fund Ticker

      THHY
    • Exchange

      NYSE Arca
    • Commencement

      03/21/2013
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      MVTHHY
    • Index Rebalancing

      Monthly
  •  
    as of 09/19/14

    • 30-Day SEC Yield1

      4.23%
    • Total Net Assets

      $10.1M
    • Number of Holdings

      91
    • Options

      Expected
    • Gross Expense Ratio2

      1.78%
    • Net Expense Ratio/TER2

      0.50%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      09/30/2014
  • Index Key Points

    Market Vectors US Treasury-Hedged High Yield Bond Index (MVTHHY) 

    Index Composition:  

    The long positions in the Index are comprised of U.S. below-investment grade corporate bond issues with a minimum outstanding of $500 million, denominated in U.S. dollars, by issuers incorporated in the U.S. The short portfolio of the Index comprises the cheapest-to-deliver 5-year United States Treasury note in the equivalent dollar amount of the total long high-yield positions.

    Index Weighting: 
    Constituents comprising the long positions in the Index are modified market capitalization-weighted issuers capped at 3%. The excess weight shall be redistributed proportionately across the other Long Portfolio constituents. 

    The short and long positions are rebalanced on a monthly basis.

    Index Provider: Market Vectors Index Solutions

  • Index Profile
     

    • Ticker

      MVTHHY
    • Inception Date

      02/05/2013
    • Rebalance Frequency

      Monthly
  • Index Fundamentals4
    as of 09/18/14

    • Yield to Worst

      3.56%
    • Yield to Maturity

      4.08%
    • Effective Duration (yrs)

      0.19
    • Years to Maturity (yrs)

      8.82
    • Coupon

      6.85%
     4 See Important Disclosure for definitions.
  • Top 10 Long Constituents (%)as of 08/31/14

    Total Constituents: 802
    Constituent Name
    Coupon
    Maturity Weighting (%)
    Bank Of America Corp
    8.000
    12/29/2049
    0.88
    Sprint Corp
    7.875
    09/15/2023
    0.62
    Bank Of America Corp
    8.125
    12/29/2049
    0.58
    First Data Corporation
    12.625
    01/15/2021
    0.48
    Sprint Nextel Corp
    9.000
    11/15/2018
    0.47
    Chrysler Gp/Cg Co-Issuer
    8.250
    06/15/2021
    0.45
    Hca Inc
    6.500
    02/15/2020
    0.45
    Reynolds Grp Iss/Reynold
    5.750
    10/15/2020
    0.45
    Chs/Community Health Sys
    6.875
    02/01/2022
    0.43
    Tenet Healthcare Corp
    8.125
    04/01/2022
    0.43
    Top 10 Total (%)5.24
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Short Constituents (%)as of 08/31/14

    Total Constituents: 1
    Constituent Name
    Coupon
    Maturity Weighting (%)
    Us Treasury N/B
    0.000
    -100.00
    Total (%)-100.00
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Index Credit Quality (%)
    as of 08/31/14

    Composite % of Net Assets
    Non-Investment Grade BB 45.47
    B 36.58
    CCC 15.63
    CC 0.21
    C 0.20
    Total Non-Investment Grade 98.10
    Not Rated 1.90
    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.  The credit breakdown presented above only includes the aggregate of the Long positions.
  • Maturity (%) as of 08/31/14

    Average Maturity: 8.85 Years

    *Maturity breakdown presented above only includes the Long Portfolio of the Index. 100% of the Short Portfolio of the Index, consisting entirely of 5-year U.S. Treasury notes, falls within the 3-to-5 years maturity range. Years to Maturity is the length of time until a fixed-income investment returns its original investment.