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  • Ticker:- BONO;true;LATS;
  • Ticker Group:- ETFFI_IB;false;;

  • Making News

    Journal of Indexes: Advantages of International High-Yield Bond Allocation


    05/01/13: Fran Rodilosso contributes to the May/June 2013 issue of Journal of Indexes, weighing the benefits and drawbacks of global high-yield bond exposure. "Investors who focus only on U.S. HY funds/indexes are missing approximately 35 percent of the world’s current HY opportunities, and consequently those regions with the highest rates of HY market growth."

     View article >> 


    ETF Daily News: Strong Inflows Push Market Vectors Emerging Markets and High-Yield Bond ETFs Past $200M AUM


    04/15/13: ETF Trends consults Fran Rodilosso on what strong inflows to HYEM and IHY tell us. “It is not the much anticipated ‘Great Rotation’ into equities we see, but rather investors starting to move assets between sub-sectors of fixed income, seeking out the shorter end of the yield curve and diversifying the kinds of instruments they hold.”

     View article >> 


    Barron's: Playing the Latest Market Top With Dividend Stocks


    03/06/13: J. Kimelman talks about EMLC when he discusses "several emerging-market bond exchange-traded funds with decent yields and low expenses." He reports that EMLC "recently surpassed $1.5 billion in assets under management, has one of the highest yields among broad emerging-market debt-focused ETFs," and a relatively low expense ratio.

     View article >> 


    Benzinga: Bond ETFs Resisting Chavez Rumors Yet Again


    03/01/13: HYEM is showcased by Benzinga as one of three ETFs holding Venezulan bonds, which may be impacted President Hugo Chavez's recent death.
    View article >>     


    ETF Database: EM Bond ETF Cheat Sheet - CHLC & BONO


    01/17/13: S. Bojinov highlights the low expenses, and the attractive depth and balance of CHLC in his article on EM debt ETFs. He also mentions the attractive yield offered by BONO: "Emerging Markets Bonds ETFs aren’t generally known for high dividend payouts, but [some of these ETFs] have meaningful dividend yields."
      View article >> 


    Seeking Alpha Likes IHY


    01/13/13: Tom Lydon spotlights IHY in his article, "Tom Lydon Positions For 2013: An ETF Trend-Following Strategy For All Seasons." Lydon discusses how he has been moving up the yield curve, "into the traditionally 'riskier' sectors of fixed-income such as corporates, high-yield and overseas," in order to find yield in this exceptionally low-rate environment.  He likes IHY as an investment option in the emerging markets bond international space. 
    View article >> 


  • How to Purchase

    Learn more

LatAm Aggregate Bond ETF BONO

  • Full Name: Market Vectors®
    LatAm Aggregate Bond ETF (BONO)

    Management Style: Sampling

    Underlying Index: The BofA Merrill Lynch Broad Latin America Bond Index (LATS)

    Index Description: LATS is comprised of external and local currency Latin American sovereign debt and the external debt of non-sovereign Latin American issuers denominated in USD or Euros.

  •    

    • Fund Ticker

      BONO

    • Exchange

      NYSE Arca

    • Index Total Return Ticker

      LATS

    • Index Provider

      BofA Merrill Lynch

    • Total Net Assets

      $46.7M

    • Shares Outstanding

      1,800,000

    • Number of Holdings

      121

    • Commencement Date

      05/11/2011

  •   as of 05/21/13

  • Key Points

    • Currently Have Higher Yields than Many Developed Markets 

    • Underlying Index Currently Comprised Primarily of Investment Grade Bonds 

    • Diversification Potential with Exposure to Bonds from Region Experiencing Robust Growth 

  • Yields as of 05/21/13

    • 30-Day SEC Yield1

      4.48%

    • Distribution Yield1

      2.54%

    • 12-Month Yield1

      4.06%
     1 See Important Disclosure for definitions.

  • Fees & Expenses2

    • Management Fee

      0.35%

    • Other Expenses

      1.57%

    • Acquired Fund Fees and Expenses

      --

    • Gross Expense Ratio

      1.92%

    • Fee Waivers and
      Expense Reimbursement

      (1.43)%

    • Net Expense Ratio

      0.49%
    2Expenses for BONO are capped contractually at 0.49% until 09/01/13. Cap excludes certain expenses, such as interest. See Important Disclosure for more information.

  • Trading Information

    • Fund Ticker

      BONO

    • Index Total Return Ticker

      LATS

    • NAV

      BONONV

    • Intraday NAV (IIV)5

      BONOIV

    • Shares Outstanding

      1,800,000

    • Estimated Cash

      BONOEU

    • Total Cash

      BONOTC

    • CUSIP

      57060U431

    • ISIN

      US57060U4316
    5See IIV Details. Source: Bloomberg

  • Fundamentals4 as of 05/17/13

    • Yield to Worst

      5.06%

    • Yield to Maturity

      5.12%

    • Effective Duration (yrs)

      6.26

    • Modified Duration (yrs)

      6.24

    • Years to Maturity

      9.51

    • Coupon

      7.38%

     4 See Important Disclosure for definitions.

  • Prices as of 05/21/13

    TickerNAV/
    Last Price    		Avg. 30-Day
    Trading
    Volume    		Daily Change
    NAV/
    Last Price    		 YTD Change
    NAV/
    Last Price    		Premium/
    Discount    		Prem/Discount
    Distribution Charts    		NAV &
    Prem/Discount
    History    		NAV
    Price
    Chart
    BONO $25.96
    $25.90         		43,168
    29,943
    $-0.03 / -0.1%
    $-0.10 / -0.4%
    		+ 1.9%
    - 0.1%
    		$-0.06
    -0.23%

  • View All Indices » View All ETFs » Performance History: Average Annual Total Returns* (%)

    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    05/11/11
    BONO (NAV) 2.48 2.20 3.84 9.16 -- -- -- 7.68
    BONO (Share Price) 3.43 2.04 2.43 9.99 -- -- -- 7.87
    LATS (Index) 2.58 2.62 3.25 11.81 -- -- -- 10.65
    Performance Differential (NAV - Index) -0.10 -0.42 0.59 -2.65 -- -- -- -2.97
    After Tax Held -- -- -- 7.41 -- -- -- 5.91
    After Tax Sold -- -- -- 5.42 -- -- -- 5.22
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    05/11/11
    BONO (NAV) 0.15 1.33 1.33 6.70 -- -- -- 6.66
    BONO (Share Price) -0.43 -0.96 -0.96 6.43 -- -- -- 6.34
    LATS (Index) 0.16 0.65 0.65 9.91 -- -- -- 9.64
    Performance Differential (NAV - Index) -0.10 -0.42 0.59 -2.65 -- -- -- -2.97
    After Tax Held -- -- -- 4.95 -- -- -- 4.89
    After Tax Sold -- -- -- 4.08 -- -- -- 4.46

    *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 ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

    The "Net Asset Value" (NAV) of a Market Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. Market Vectors ETF investors should not expect to buy or sell shares at NAV.

    The "After Tax Held" represents total return after taxes on distributions and assumes shares have not been sold. "After Tax Sold" represents total return after taxes on distributions and the sale of Fund shares. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. After-tax returns are based on NAV.

  • View All Holdings » Top 10 Holdings (%) as of 04/30/13

    Total Holdings: 119
    Holding Name
    Coupon
    		 Maturity
    Composite
    Rating
    Country†
    Currency
    		 % of Net
    Assets
    Mexican Bonos
    8.500
    		 05/31/2029
    BBB+
    Mexico
    MXN
    		 5.25
    Colombia Government International Bond
    12.000
    		 10/22/2015
    BBB-
    Colombia
    COP
    		 4.57
    Colombia Government International Bond
    7.750
    		 04/14/2021
    BBB-
    Colombia
    COP
    		 4.45
    Brazil Notas do Tesouro Nacional Ser F
    9.694
    		 01/01/2017
    BBB
    Brazil
    BRL
    		 4.03
    Mexican Bonos
    8.000
    		 12/17/2015
    BBB+
    Mexico
    MXN
    		 3.99
    Brazilian Government International Bond
    10.125
    		 05/15/2027
    BBB
    Brazil
    USD
    		 2.64
    Mexico Government International Bond
    6.050
    		 01/11/2040
    BBB
    Mexico
    USD
    		 1.97
    Vale Overseas Ltd
    6.875
    		 11/21/2036
    BBB+
    Cayman Islands
    USD
    		 1.76
    Mexico Government International Bond
    5.625
    		 01/15/2017
    BBB
    Mexico
    USD
    		 1.73
    Petroleos Mexicanos
    5.500
    		 01/21/2021
    BBB
    Mexico
    USD
    		 1.72
    Top 10 Total (%) 32.11

    †See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Country Weightings (%) as of 04/30/13

    • Domicile

      % of Net Assets

    • MEXICO

      26.0

    • BRAZIL

      20.8

    • COLOMBIA

      12.1

    • UNITED KINGDOM

      9.9

    • VENEZUELA

      6.9

    • CHILE

      4.9

    • UNITED STATES

      4.7

    • ARGENTINA

      2.4

    • PERU

      2.3

    • PANAMA

      1.9

    • ARUBA

      0.9

    • EL SALVADOR

      0.9

    • TRINIDAD

      0.8

    • URUGUAY

      0.7

    • LUXEMBOURG

      0.7

    • JAMAICA

      0.7

    • DOMINICAN REPB.

      0.6

    • AUSTRIA

      0.5

    • COSTA RICA

      0.5

    • Other

      1.7

    • Total

      99.9

  • Currency Exposure (%)
    as of 04/30/13

    • U.S. Dollar

      59.94

    • Mexican Peso

      15.60

    • Colombian Peso

      9.03

    • Brazilian Real

      7.79

    • Euro

      4.48

    • Chilean Peso

      1.47

    • Other

      1.69

    • Total

      100.00

  • Sector Weightings (%) as of 04/30/13

    • Sector

      % of Net Assets

    • Government

      60.4

    • Energy

      12.3

    • Financial

      8.2

    • Basic Materials

      7.1

    • Communications

      4.9

    • Industrial

      2.4

    • Consumer, Non-cyclical

      1.4

    • Diversified

      1.0

    • Utilities

      0.6

    • Other

      1.7

    • Total

      100.0

  • Credit Quality (%) as of 04/30/13

    Composite Rating % of Net Assets
    Investment Grade AA 1.47
    A 4.77
    BBB 67.92
    Non-Investment Grade BB 5.94
    B 9.45
    CCC 3.06
    Total Investment Grade 74.16
    Total Non-Investment Grade 18.45
    Not rated 7.39
    Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion.

  • Maturity (%) as of 04/30/13

    Average Portfolio Maturity: 9.58 Years

  • Contact Us

    Van Eck Securities
    Corporation, Distributor
    335 Madison Avenue, 19th Fl.
    New York, NY 10017
    888.MKT.VCTR
    888.658.8287
    marketvectors@vaneck.com

  • Important Disclosure

    130-Day SEC Yield is calculated as of the most recent month end, and is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons primarily among bond funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The Distribution Yield is the annual yield an investor would receive if the most recent fund distribution stayed the same going forward. The yield represents a single distribution from the fund and does not represent the total return of the fund.  The yield is calculated by annualizing the most recent distribution and dividing by the fund NAV from the as-of date. The 12-Month Yield is the yield an investor would have received if they had held the fund over the last 12 months assuming the most recent NAV. The 12-month yield is calculated by summing any income distributions over the past 12 months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past 12 months. Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included.

    2BONO Fees & Expenses: 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 interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.49% of the Fund’s average daily net assets per year until at least September 1, 2013. During such time, the expense limitation is expected to continue until the Fund’s Board of Trustees acts to discontinue all or a portion of such expense limitation.

    3Morningstar Ratings: ©2013 Morningstar, Inc. All Rights Reserved. Not applicable at this time.

    4These figures represent averages. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Yield to Maturity is the annualized return on a bond held to maturity. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bonds with embedded options. Modified Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. Duration to Worst measures the duration of a bond computed using the bond's nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. Spread Duration measures a bond's price sensitivity to a 100 basis point change to its option-adjusted spread. As the rate of the Treasury security in the option-adjusted spread increases, the rate of the option-adjusted spread also increases.Years to Maturity is the length of time until a fixed-income investment returns its original investment. Coupon is measured by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid on a fixed-income security on an annual basis. Averages are market weighted. The Coupon and Yield to Worst do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

     5IIV is an abbreviation for An ETF's intraday indicative value; it is an estimated fair value of its holdings based on the most recent prices of its underlying securities and other assets. Intraday values are typically updated every 15 seconds and should closely approximate the net asset value (NAV) of an ETF throughout the trading day. ETF intraday values are calculated by an exchange (e.g., the NYSE Arca) and are distributed through quote services.

    6The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sector; as an Index, it is unmanaged and is not a security in which investments can be made.

    Merrill Lynch, Pierce, Fenner & Smith Incorporated and its affiliates (“BofA Merrill Lynch”) indices and related information, the name “BofA Merrill Lynch”, and related trademarks, are intellectual property licensed from BofA Merrill Lynch, and may not be copied, used, or distributed without BofA Merrill Lynch’s prior written approval. The licensee’s products have not been passed on as to their legality or suitability, and are not regulated, issued, endorsed, sold, guaranteed, or promoted by BofA Merrill Lynch. BofA MERRILL LYNCH MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE INDICES, ANY RELATED INFORMATION, ITS TRADEMARKS, OR THE PRODUCT(S) (INCLUDING WITHOUT LIMITATION, THEIR QUALITY, ACCURACY, SUITABILITY AND/OR COMPLETENESS).

    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 Fund may invest in securities denominated in foreign currencies and some of the income received by the Fund will be in foreign currency, changes in currency exchange rates may negatively impact the Fund’s return. The Fund may also invest a portion of its assets in Rule 144A securities which are restricted securities. They may be less liquid than other investments because, at times, such securities cannot be readily sold in broad public markets. The Fund may also be subject to credit risk, interest rate risk, sovereign debt risk, tax risk, and risks associated with non-investment grade securities. Investors should be willing to accept a high degree of volatility and the potential of significant loss. Bonds and bond funds will decrease in value as interest rates rise.

    After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares throughtax-deferred arrangements such as 401(k) plans or individual retirement.

    Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Investors can not invest directly in the Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. Index returns assume that dividends have been reinvested.

    Country of Risk: The International Organization for Standardization (ISO) country code of the issuer's country of risk. The assignment of an issuer's country of risk takes four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the Chief Executive Officer (CEO), Chief Financial Officer CFO), Chief Operating Officer (COO), and/or General Counsel is otherwise.

    The “Net Asset Value” (NAV) of a Market Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF’s intraday trading value. Market Vectors ETF investors should not expect to buy or sell shares at NAV.

    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. You will incur brokerage expenses when trading Fund shares in the secondary market. Past performance is no guarantee of future results. Returns for actual Fund investments may differ from what is shown because of differences in timing, the amount invested, and fees and expenses.

    The performance data quoted represents past performance. Past performance is not a guarantee of future results. Performance information for the Fund reflects temporary waivers of expenses and/or fees. Had the Fund incurred all expenses, investment returns would have been reduced. Investment return and value of the shares of the Fund will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Performance current to the most recent month end is available by calling 888.MKT.VCTR or on this web page. 

    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, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 888.MKT.VCTR or visit vaneck.com/etf. Please read the prospectus and summary prospectus carefully before investing. 

    Not FDIC Insured — No Bank Guarantee — May Lose Value

 © 2013 Van Eck Securities Corporation. All rights reserved.