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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 09/27/16

    • 30-Day SEC Yield1

      0.70%
    • Total Net Assets

      $19.8M
    • Number of Holdings

      69
    • Options

      Expected
    • Gross Expense Ratio2

      0.24%
    • Net Expense Ratio/TER2

      0.24%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      09/30/2016
  • 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 09/26/16

      • Yield to Worst

        0.99%
      • Yield to Maturity

        1.00%
      • Effective Duration (yrs)

        2.47
      • Duration to Worst (yrs)

        2.43
      • Modified Duration (yrs)

        2.50
      • Spread Duration (yrs)

        2.50
      • Years to Maturity

        2.75
      • Coupon

        5.05%
       4 See Important Disclosure for definitions.
    • Top 10 Constituents (%) as of 08/31/16

      Total Constituents: 3166
      Issuer Name
      StateWeighting (%)
      California St Economic Recovery
      CA
      2.71
      Washington St For Issues Dtd Prior To 07/23/08 See 9397
      WA
      2.67
      Massachusetts St
      MA
      2.31
      Illinois Fin Auth Rev For Issues Dtd Prior To 09/27/07
      IL
      1.74
      North Carolina Eastn Mun Pwr Agy Pwr Sys Rev
      NC
      1.65
      Bay Area Toll Auth Calif Toll Brdg Rev
      CA
      1.34
      Foothill / Eastern Transn Corridor Agy Calif Toll Rd Re
      CA
      1.29
      California Infrastructure & Economic Dev Bk Rev
      CA
      1.28
      San Joaquin Hills Calif Transn Corridor Agy Tollrd Rev
      CA
      1.27
      Pennsylvania St Tpk Commn Tpk Rev
      PA
      1.17
      Top 10 Total (%)17.43
      These are not recommendations to buy or to sell any security. Securities and holdings may vary.
    • Index Geographical Weightings (%) as of 08/31/16

      • State

        % of Net Assets
      • California

        20.0
      • Texas

        10.8
      • New York

        6.9
      • Massachusetts

        6.5
      • Washington

        5.4
      • North Carolina

        4.3
      • Florida

        4.2
      • Pennsylvania

        3.0
      • Arizona

        2.7
      • Virginia

        2.5
      • Ohio

        2.3
      • Maryland

        2.3
      • New Jersey

        2.2
      • Georgia

        1.9
      • Kentucky

        1.9
      • Michigan

        1.8
      • Oregon

        1.8
      • Tennessee

        1.6
      • Minnesota

        1.5
      • Nevada

        1.4
    • Index Sector Weightings (%) as of 08/31/16

      • Sector

        % of Net Assets
      • Transportation

        16.4
      • State General

        15.8
      • Local General

        15.3
      • Water Utilities

        11.8
      • Education

        10.6
      • Health Care Facilities

        10.2
      • Leasing

        7.3
      • Power Utilities

        6.5
      • Special Tax

        5.8
      • IDR/PCR

        0.2
      • Resource Recovery

        0.2
      • Housing

        0.0
    • Maturity (%) as of 08/31/16

      Average Portfolio Maturity: 9.83 Years