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PRB
Market Vectors Pre-Refunded Municipal Index ETF

  • Fund Description

    The VanEck Vectors Pre-Refunded Municipal Index ETF (PRB®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bloomberg Barclays Municipal Pre-Refunded-Treasury-Escrowed Index (LMPETR), which is intended to track the overall performance of the U.S. dollar denominated pre-refunded or escrowed-to maturity tax-exempt bond market.

  •  
      

    • Fund Ticker

      PRB
    • Exchange

      NYSE Arca
    • Commencement

      02/02/2009
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      LMPETR
    • Index Rebalancing

      Monthly
  •  
    as of 12/08/16

    • 30-Day SEC Yield1

      1.10%
    • Total Net Assets

      $19.6M
    • Number of Holdings

      71
    • Options

      Expected
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      12/16/2016
  • Index Key Points

    The Bloomberg Barclays Municipal Pre-Refunded Treasury-Escrowed Index (LMPETR) is comprised of:

    Pre-Refunded and escrowed-to-maturity bonds (ETMs) with underlying collateral comprised of marketable U.S. Treasury securities, U.S. Treasury-issued State and Local Government Series (SLGS) securities and/or U.S. government agency-issued securities.

    Issues eligible for inclusion in Index:

    • Nominal maturity of 1-30 years.
    • Outstanding par value of at least $7 million.
    • Issued as part of transaction of at least $75 million in value.
    • Fixed rate coupon and denominated in U.S. dollars.

      Index Provider: Bloomberg Index Services Limited

    • Index Profile

      • Ticker

        LMPETR
      • Inception Date

        12/16/2008
      • Rebalance Frequency

        Monthly
    • Index Fundamentals4
      as of 12/08/16

      • Yield to Worst

        1.48%
      • Yield to Maturity

        1.49%
      • Effective Duration (yrs)

        2.41
      • Duration to Worst (yrs)

        2.37
      • Modified Duration (yrs)

        2.43
      • Spread Duration (yrs)

        2.43
      • Years to Maturity

        2.65
      • Coupon

        5.08%
       4 See Important Disclosure for definitions.
    • Top 10 Constituents (%) as of 11/30/16

      Total Constituents: 3963
      Issuer Name
      StateWeighting (%)
      California St Economic Recovery
      CA
      2.06
      Washington St For Issues Dtd Prior To 07/23/08 See 9397
      WA
      2.03
      Massachusetts St
      MA
      1.82
      California St Pub Wks Brd Lease Rev
      CA
      1.50
      Illinois Fin Auth Rev For Issues Dtd Prior To 09/27/07
      IL
      1.43
      Bay Area Toll Auth Calif Toll Brdg Rev
      CA
      1.39
      New York St Dorm Auth Revs Non St Supported Debt
      NY
      1.37
      North Carolina Eastn Mun Pwr Agy Pwr Sys Rev
      NC
      1.24
      Massachusetts St Health & Edl Facs Auth Rev
      MA
      1.13
      Los Angeles Calif Cmnty College Dist
      CA
      1.05
      Top 10 Total (%)15.02
      These are not recommendations to buy or to sell any security. Securities and holdings may vary.
    • Index Geographical Weightings (%) as of 11/30/16

      • State

        % of Net Assets
      • California

        19.6
      • Texas

        9.7
      • New York

        6.9
      • Massachusetts

        5.3
      • Washington

        5.2
      • Florida

        4.3
      • North Carolina

        4.1
      • Pennsylvania

        3.3
      • Arizona

        3.2
      • Illinois

        2.9
      • Georgia

        2.6
      • Virginia

        2.2
      • Maryland

        2.2
      • New Jersey

        2.1
      • Ohio

        1.9
      • Tennessee

        1.8
      • Oregon

        1.6
      • Michigan

        1.6
      • Louisiana

        1.6
      • Wisconsin

        1.6
    • Index Sector Weightings (%) as of 11/30/16

      • Sector

        % of Net Assets
      • State General

        14.5
      • Transportation

        13.9
      • Local General

        13.6
      • Health Care Facilities

        13.2
      • Education

        12.3
      • Water Utilities

        10.8
      • Power Utilities

        7.1
      • Leasing

        7.1
      • Special Tax

        7.1
      • IDR/PCR

        0.2
      • Resource Recovery

        0.2
      • Housing

        0.0
    • Maturity (%) as of 11/30/16

      Average Portfolio Maturity: 9.55 Years