The Market Vectors ETF Trust announced regular monthly distributions
today for its six municipal income ETFs and its income-oriented ETFs.
The following dates apply to today’s distribution declarations:
|
|
|
|
|
|
|
|
Ex-Date
|
|
|
|
|
|
|
|
Record Date
|
|
|
|
|
|
|
|
Payable Date
|
|
|
|
|
|
|
|
March 1, 2013
|
|
|
|
|
|
|
|
March 5, 2013
|
|
|
|
|
|
|
|
March 7, 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distribution
|
|
|
|
Distribution Amount
|
Fund
|
|
|
|
Ticker
|
|
|
|
Frequency
|
|
|
|
Per Share
|
Market Vectors Intermediate Municipal Index ETF
|
|
|
|
ITM
|
|
|
|
Monthly
|
|
|
|
$0.0434
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Long Municipal Index ETF
|
|
|
|
MLN
|
|
|
|
Monthly
|
|
|
|
$0.0581
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Short Municipal Index ETF
|
|
|
|
SMB
|
|
|
|
Monthly
|
|
|
|
$0.0186
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors High-Yield Municipal Index ETF
|
|
|
|
HYD
|
|
|
|
Monthly
|
|
|
|
$0.1270
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Pre-Refunded Municipal Index ETF
|
|
|
|
PRB
|
|
|
|
Monthly
|
|
|
|
$0.0292
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Emerging Markets Local Currency Bond ETF
|
|
|
|
EMLC
|
|
|
|
Monthly
|
|
|
|
$0.0970
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Investment Grade Floating Rate ETF
|
|
|
|
FLTR
|
|
|
|
Monthly
|
|
|
|
$0.0170
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors LatAm Aggregate Bond ETF
|
|
|
|
BONO
|
|
|
|
Monthly
|
|
|
|
$0.0600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Renminbi Bond ETF
|
|
|
|
CHLC
|
|
|
|
Monthly
|
|
|
|
$0.0450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors CEF Municipal Income ETF
|
|
|
|
XMPT
|
|
|
|
Monthly
|
|
|
|
$0.1250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors International High Yield Bond ETF
|
|
|
|
IHY
|
|
|
|
Monthly
|
|
|
|
$0.1180
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Fallen Angel High Yield Bond ETF
|
|
|
|
ANGL
|
|
|
|
Monthly
|
|
|
|
$0.1300
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Emerging Markets High Yield Bond ETF
|
|
|
|
HYEM
|
|
|
|
Monthly
|
|
|
|
$0.1250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market Vectors Preferred Securities Ex Financials ETF
|
|
|
|
PFXF
|
|
|
|
Monthly
|
|
|
|
$0.0910
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The majority, and possibly all, of these distributions will be paid out
of net investment income earned by the Funds. A portion of this
distribution may come from net short-term realized capital gains or
return of capital.
The amount of dividends paid by each fund may vary from time to time.
Past amounts of dividends are no guarantee of future dividend payment
amounts.
Market Vectors does not provide legal, tax or accounting advice. Any
statement contained in this communication concerning U.S. tax matters is
not intended or written to be used, and cannot be used, for the purpose
of avoiding penalties imposed on the relevant taxpayer. Shareholders or
potential shareholders of the Market Vectors ETFs should obtain their
own independent tax advice based on their particular circumstances.
About Market Vectors ETFs
Market Vectors exchange-traded products have been offered since 2006 and
span many asset classes, including equities, fixed income (municipal and
international bonds) and currency markets. The Market Vectors family
currently totals $26.4 billion in assets under management, making it the
fifth largest ETP family in the U.S. and eighth largest worldwide as of
December 31, 2012.
Market Vectors ETFs are distributed by Van Eck Global. Founded in 1955,
Van Eck Global was among the first U.S. money managers helping investors
achieve greater diversification through global investing. Today, the
firm continues this tradition by offering innovative, actively managed
investment choices in hard assets, emerging markets, precious metals
including gold, and other alternative asset classes. Van Eck Global has
offices around the world and manages approximately $36.6 billion in
investor assets as of December 31, 2012.
Please call 888.MKT.VCTR or visit our website
for the most recent month-end performance of Market Vectors ETFs. This
information will be available no later than seven business days after
the most recent month end.
Principal Fund Risk Factors: Bonds and bond funds will decrease
in value as interest rates rise. Investors should be willing to accept
substantial risk, a high degree of volatility and the potential of
significant loss. The Funds may also be subject to credit risk, interest
rate risk, sovereign debt risk, tax risk, and risks associated with
non-investment grade securities. The Funds may loan their securities,
which may subject them to additional credit and counterparty risk.
Market Vectors Municipal Bond ETFs Risk: Municipal bonds are
subject to risks related to litigation, legislation, political change,
conditions in underlying sectors or in local business communities and
economies, bankruptcy or other changes in the issuer’s financial
condition, and/or the discontinuance of taxes supporting the project or
assets or the inability to collect revenues for the project or from the
assets. Additional risks include credit, interest rate, call,
reinvestment, tax, market and lease obligation risk.
High-yield municipal bonds are subject to greater risk of loss of income
and principal than higher-rated securities, and are likely to be more
sensitive to adverse economic changes or individual municipal
developments than those of higher-rated securities. Interest and
principal payments for pre-refunded bonds are funded from securities in
an escrow account. The escrowed securities do not guarantee the price of
these bonds. Municipal bonds may be less liquid than taxable bonds.
There is no guarantee that the Funds’ income will be exempt from federal
or state income taxes, and changes in those tax rates or in alternative
minimum tax rates or in the tax treatment of municipal bonds may make
them less attractive as investments and cause them to lose value.
Capital gains, if any, are subject to capital gains tax.
Market Vectors Emerging Markets Local Currency Bond ETF and Market
Vectors LatAm Aggregate Bond ETF Risk: Investments in emerging
market securities are subject to elevated risks which include, among
others, expropriation, confiscatory taxation, issues with repatriation
of investment income, limitations of foreign ownership, political
instability, armed conflict and social instability. As the Funds invest
in securities denominated in foreign currencies and some of the income
received by the Funds will be in foreign currency, changes in currency
exchange rates may negatively impact the Funds’ return. The Funds will
generally invest a portion of its assets in Rule 144A securities. Rule
144A securities are restricted securities. They may be less liquid than
other investments because, at times, such securities cannot be readily
sold in broad public markets and the Funds might be unable to dispose of
such securities promptly or at reasonable prices. A restricted security
that was liquid at the time of purchase may subsequently become illiquid.
Market Vectors Investment Grade Floating Rate ETF Risk:
Floating rate notes are debt issues with variable coupon payments
that are pegged to a reference rate plus a spread. Coupons are reset
periodically and can rise or fall with changes in the reference rate.
The Fund is subject to financial services sector risk, restricted
securities risk, credit risk, interest rate risk, and call risk, among
others. The Fund will generally invest a significant portion of its
assets in the financial services industry. As such, the Fund will be
sensitive to changes in, and its performance will depend to a greater
extent on, the overall condition of the financial services sector. The
Fund will generally invest a portion of its assets in Rule 144A
securities. Rule 144A securities are restricted securities. They may be
less liquid than other investments because, at times, such securities
cannot be readily sold in broad public markets and the Fund might be
unable to dispose of such securities promptly or at reasonable prices. A
restricted security that was liquid at the time of purchase may
subsequently become illiquid.
Market Vectors Renminbi Bond ETF Risk:Investments in
China-related securities are subject to elevated risks which include
adverse market, political, regulatory, and geographic events affecting
China and the surrounding region. The Chinese economy differs from the
U.S. economy in terms of structure, general development, government
involvement, wealth distribution, rate of inflation, growth rate,
allocation of resources, and capital reinvestment, among others, and
these differences may pose risk for investors. A decline in the value of
the renminbi versus the USD will result in reduced returns or loss for
the Fund. As a result of the Index’s concentration, a significant
portion of the Fund’s assets will be invested in financial services
industry and sovereign debt. Fixed income securities are subject to
credit risk and interest rate risks. As the general level of interest
rates goes up, the prices of most fixed income securities go down.
Issuers of a security may be unable or unwilling to make timely interest
payments and/or repay principle on its debt. The Fund will include bonds
issued by non-U.S. issuers. Investments in the securities of non-U.S.
issuers involve risks such as greater market volatility, the
availability of financial information, higher transactional and custody
costs, taxation by foreign governments, among others. RMB bonds may also
have less liquidity and may have greater volatility than other fixed
income securities. As a result, the Fund might be unable to dispose of
such bonds promptly or at reasonable prices.
Market Vectors CEF Municipal Income ETF Risk:The
Fund, because it is a “fund of funds”, is dependent on the performance
of the Underlying Funds. The Fund is subject to the risks of the
Underlying Funds’ investments, and the Fund’s shareholders will
indirectly bear the expenses of the Underlying Funds. In addition, at
times certain segments of the market represented by the Underlying Funds
may be out of favor and underperform other segments. The shares of a
closed-end fund may trade at a discount or premium to its net asset
value (“NAV”). Additionally, the securities of closed-end investment
companies in which the Fund will invest may be leveraged. As a result,
the Fund may be indirectly exposed to leverage through an investment in
such securities. An investment in securities of closed-end investment
companies that use leverage may expose the Fund to higher volatility in
the market value of such securities and the possibility that the Fund’s
long-term returns on such securities (and, indirectly, the long-term
returns of the Shares) will be diminished. Investment in the Underlying
Funds may be subject to municipal securities risk, high-yield securities
risk, fixed-income securities risk, tax risk, liquidity risk, leverage
risk and anti-takeover measures risk. Some of the Underlying Funds are
considered non-diversified and can invest a larger proportion of its
assets in a single company. As a result, they may be subject to greater
risks than a diversified fund. A portion of the Fund’s dividends may be
subject to federal, state, or local income taxes or may be subject to
the federal alternative minimum tax.
Market Vectors International High Yield ETF Risk: The Fund may be
subject to credit risk, interest rate risk and a greater risk of loss of
income and principal than higher rated securities. Investments in
emerging markets securities are subject to elevated risks which include,
among others, expropriation, confiscatory taxation, issues with
repatriation of investment income, limitations of foreign ownership,
political instability, armed conflict and social instability. Investors
should be willing to accept a high degree of volatility and the
potential of significant loss.
Market Vectors Fallen Angel High Yield Bond ETF Risk: The Fund
may be subject to credit risk, interest rate risk and a greater risk of
loss of income and principal than higher rated securities. Investors
should be willing to accept a high degree of volatility and the
potential of significant loss. Investments concentrated in the financial
services and industrials sectors may be subject to more volatility than
investments in a diverse group of sectors and are subject to the risks
associated with such sectors. The Fund may loan its securities, which
may subject it to additional credit and counterparty risk.
Market Vectors Preferred Securities Ex Financials ETF Risk:
Investments in preferred securities are subject to fluctuations in value
due to deferred or unpaid distributions, call features and decreases in
value of common stock if security is convertible. Investments in fixed
income securities are subject to credit risk and will decline in price
when interest rates rise. Payments may be structurally subordinated such
that creditors will have priority to assets over the Fund. Adverse
economic, business or political developments affecting real estate could
have an effect on the value of the Fund’s investments. Small- and
medium-capitalization companies may be more volatile than
large-capitalization companies. The Fund’s assets may be concentrated in
a particular sector, such as real estate, utilities and consumer
discretionary and may be subject to more risk than investments in a
diverse group of sectors.
Fund shares are not individually redeemable and will be issued and
redeemed at their 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.
Investors may call 888.MKT.VCTR or visit vaneck.com/etf
for a free prospectus
and summary
prospectus. Investing involves substantial risk and
high volatility including possible loss of principal. Bonds and bond
funds will decrease in value as interest rates rise. An investor should
consider the investment objective, risks, and charges and expenses of
Market Vectors ETFs carefully before investing. The prospectus and
summary prospectus contains this and other information. Please read the
prospectus and summary prospectus carefully before investing.
Van Eck Securities Corporation, Distributor, 335 Madison Avenue, New
York, NY 10017