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PRB
VanEck 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 05/22/17

    • 30-Day SEC Yield1

      1.05%
    • Total Net Assets

      $14.8M
    • Number of Holdings

      70
    • Options

      Expected
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      05/31/2017
  • 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 05/19/17

      • Yield to Worst

        1.10%
      • Yield to Maturity

        1.11%
      • Effective Duration (yrs)

        2.30
      • Duration to Worst (yrs)

        2.26
      • Modified Duration (yrs)

        2.32
      • Spread Duration (yrs)

        2.32
      • Years to Maturity

        2.53
      • Coupon

        5.09%
       4 See Important Disclosure for definitions.
    • Top 10 Constituents (%) as of 04/30/17

      Total Constituents: 3712
      Issuer Name
      StateWeighting (%)
      California St Economic Recovery
      CA
      2.20
      Washington St For Issues Dtd Prior To 07/23/08 See 9397
      WA
      2.17
      Massachusetts St
      MA
      2.17
      California St Pub Wks Brd Lease Rev
      CA
      2.02
      Illinois Fin Auth Rev For Issues Dtd Prior To 09/27/07
      IL
      1.62
      New York St Dorm Auth Revs Non St Supported Debt
      NY
      1.47
      Massachusetts St Health & Edl Facs Auth Rev
      MA
      1.21
      Triborough Brdg & Tunl Auth N Y Revs
      NY
      1.15
      Los Angeles Calif Cmnty College Dist
      CA
      1.13
      Wisconsin St For Issues Dtd Prior To 1/28/04 See977056
      WI
      1.08
      Top 10 Total (%)16.22
      These are not recommendations to buy or to sell any security. Securities and holdings may vary.
    • Index Geographical Weightings (%) as of 04/30/17

      • State

        % of Net Assets
      • California

        21.3
      • Texas

        8.0
      • New York

        6.7
      • Massachusetts

        5.6
      • Florida

        5.0
      • Pennsylvania

        4.5
      • Washington

        4.2
      • North Carolina

        3.5
      • Arizona

        2.9
      • New Jersey

        2.8
      • Illinois

        2.6
      • Maryland

        2.5
      • Virginia

        2.5
      • Georgia

        2.3
      • Wisconsin

        2.2
      • Michigan

        2.0
      • Oregon

        1.6
      • Louisiana

        1.6
      • Tennessee

        1.5
      • Nevada

        1.4
    • Index Sector Weightings (%) as of 04/30/17

      • Sector

        % of Net Assets
      • State General

        14.3
      • Health Care Facilities

        14.2
      • Transportation

        13.8
      • Local General

        12.5
      • Education

        12.2
      • Water Utilities

        11.4
      • Leasing

        8.2
      • Special Tax

        6.7
      • Power Utilities

        6.2
      • IDR/PCR

        0.2
      • Resource Recovery

        0.2
      • Housing

        0.0
    • Maturity (%) as of 04/30/17

      Average Portfolio Maturity: 10.49 Years