Long/Short Equity Index FundLSNYX

  • Daily Price   as of 05/22/2015

    $9.19  $-0.01 / -0.1%
  • Class Y Details: LSNYX

    12/12/2013 13.19%/1.11%
  • Fund Summary & Key Points

    The Long/Short Equity Index Fund seeks to track, before fees and expenses, the performance of the Market Vectors North America Long/Short Equity Index (the “Index”). The Index is constructed using a rules based process and seeks to capture the performance of a group of long/short equity hedge funds that focus on North American companies. This is done by identifying an initial universe of North American focused long/short equity hedge funds, and then eliminating outlier hedge funds, typically eliminating more of the underperforming outlier hedge funds, from the initial universe with a patented True Alpha® (True α®) metric that scores and ranks funds based on their risk-adjusted performance over a twelve month period.

    • Seeks Consistent Risk/Return Characteristics
    • Quantitative Expertise and Repeatable Systematic Process

  • Fund Details 
    as of 04/30/15

    • Net Assets (All Classes)
    • Benchmark Indices
      Market Vectors North America Long/Short Equity Index

      S&P 500® Index

  • Performance History: Average Annual Total Returns (%) 

    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE
    Van Eck Long/Short Equity Fund: Class Y
    At Net Asset Value-0.333.190.785.21------4.17
    Market Vectors North America Long/Short Equity Index2-
    S&P 500 Index 20.965.071.9212.98--------
    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE
    Van Eck Long/Short Equity Fund: Class Y
    At Net Asset Value-0.661.111.114.27------4.70
    Market Vectors North America Long/Short Equity Index2-0.541.391.395.11--------
    S&P 500 Index 2-1.580.950.9512.73--------

    *Returns less than one year are not annualized.

    The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the Fund incurred all expenses and fees, investment returns would have been reduced. Expenses: Class Y: Gross 13.19% and Net 1.11%. Expenses are capped contractually through 05/01/16 at 0.70% for Class Y. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

  • Current Allocations (%) 

    U.S. Treasury Bills Long 31.9
    U.S. Small Cap Equities Long 20.0
    Materials Sector Equities Long 20.0
    U.S. Mid Cap Equities Long 19.1
    U.S. Mid Cap Core Equities Long 16.2
    U.S. Mid Cap Value Equities Short -7.2
    U.S. Treasury Bills Long 51.9
    Industrial Sector Equities Long 16.7
    U.S. Small Cap Equities Long 16.7
    U.S. Mid Cap Core Equities Long 16.7
    Materials Sector Equities Long 10.7
    U.S. Mid Cap Value Equities Long 4.0
    1-3 Year Credit Bonds Short -16.7

    These are not recommendations to buy or sell any security. Fund allocation excludes cash.

  • Important Disclosure 

    Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics. 

    NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase. No sales charge is imposed where Class A shares are issued to you pursuant to the automatic investment of income dividends or capital gains distribution. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class I and Class Y do not have an initial sales charge. See the prospectus for more information.

    1Other expenses and acquired fund fees and expenses are based on estimated amounts for the current fiscal year. Van Eck Associates Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 0.95% for Class A, 0.65% for Class I, and 0.70% for Class Y of the Fund’s average daily net assets per year until May 1, 2016. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

    2 The Market Vectors North America Long/Short Equity Index seeks to capture the systematic returns (beta) of North American focused long/short equity hedge funds. The index employs a patented rating and ranking system that filters out funds with low beta as compared to their hedge fund peer group. The index is constructed using transparent, liquid ETFs to produce hedge fund-style returns. The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.

    Market Vectors North America Long/Short Equity Index (the “Index”) is the exclusive property of Market Vectors Index Solutions GmbH (a wholly owned subsidiary of the Adviser), which has contracted with Solactive AG to maintain and calculate the Index. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards Market Vectors Index Solutions GmbH, Solactive AG has no obligation to point out errors in the Index to third parties.

    Market Vectors Index Solutions GmbH does not sponsor, endorse or promote the Long/Short Equity Fund and makes no representation regarding the advisability of investing in the Fund.

    All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees, or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

    The views and opinions expressed are those of Van Eck Global. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

    You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program rather than a complete program. All mutual funds are subject to market risk, including possible loss of principal. Because the Fund is a "fund-of-funds," an investor will indirectly bear the principal risks of the exchange-traded products in which it invests, including but not limited to, risks associated with smaller companies, foreign securities, emerging markets, debt securities, commodities, and derivatives, as well as risk of tracking error. With respect to derivatives, the use of leverage may magnify losses. The Fund will bear its share of the fees and expenses of the exchange-traded products. Consequently, an investment in the Fund entails more direct and indirect expenses than a direct investment in an exchange-traded product. Because the Fund invests in exchange-traded products, it is subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an exchange-traded product's shares may be higher or lower than the value of its underlying assets, there may be a lack of liquidity in the shares of the exchange-traded product, or trading may be halted by the exchange on which they trade. Principal risks of investing in foreign securities include changes in currency rates, foreign taxation and differences in auditing and other financial standards.  Investments in commodities and emerging markets are subject to risks associated with geopolitical and global economic conditions. Debt securities may be subject to credit risk and interest rate risk. Investments in debt securities typically decrease in value when interest rates rise. The Fund may actively engage in short selling, which entails special risks. If the Fund makes short sales in securities that increase in value, the Fund will lose value. The amount the Fund could lose on a short sales is theoretically unlimited. Because the Adviser relies heavily on proprietary quantitative models, the Fund is also subject to Model and Data Risk. For a description of these and other risk considerations, please refer to the Fund’s prospectus, which should be read carefully before you invest. 

    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 them carefully before investing.  

    Van Eck Securities Corporation, Distributor
    335 Madison Avenue, 19th Floor
    New York, NY 10017