Colby is a Senior Municipal Strategist with more than 30 years of fixed income experience, responsible for Market Vectors municipal bond investments.
Municipal bond ETFs have begun to move into what I think of as the "mature" stages of a fund’s life. Now that several have five-year track records, some with substantial assets under management, I believe that an independent assessment of this product innovation can potentially provide investors and advisors with insight based on the very same analytical approach and detail they are accustomed to for other asset classes. The white paper by Municipal Market Advisors (MMA) offers, in broad terms, MMA’s view to the "utility" of municipal ETFs and possibly identifies municipal ETFs’ competitive positioning relative to other (more traditional) municipal investment options. I hope you will take the time to consider this important work which, in my opinion, currently stands alone in its professional field.
Because of its relevance in today’s market, we are making MMA’s report publicly available in its entirety. MMA’s research study was commissioned by Van Eck Associates Corporation (VEAC), sponsor of Market Vectors ETFs. However, VEAC had no input into the findings of MMA’s research study.
Market Vectors High-Yield Municipal Index ETF
Market Vectors Intermediate Municipal Index ETF
Market Vectors Short High-Yield Municipal Index ETF
Market Vectors CEF Municipal Income ETF
666 Third Avenue
New York, NY 10017
ETF Fund shares are not individually redeemable and will be issued and redeemed at the NAV only through certain authorized broker-dealers in large, specified blocks of shares called "creation units" and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.
Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read the prospectus and summary prospectus carefully before investing.