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  • Ticker:- XMPT;true;CEFMXTR;
  • Ticker Group:- ETFFI_MI;false;;

  • Making News

    The Bond Buyer: Some Steering Clear of Puerto Rico, Others Riding Out the Storm


    04/10/13: Examining the question of whether investors should exit Puerto Rican debt ahead of the commonwealth’s proposed fiscal remedies, The Bond Buyer consults MV’s James Colby. "Whether or not we feel that these credits are at risk for further downgrades, we would only consider an outright sale or removal if we felt a monetary default might occur, putting shareholders' interest at risk."
      View article >> 


    The Bond Buyer: February Muni Bond Volume Tumbles


    02/28/13: James Ramage interviews MV's James Colby, who was surprised by the decline in muni issuance in February, considering interest rate levels. Colby expects that refundings should increase: "Why wait, if it’s producing cost savings and can get done reasonably efficiently? Do your refundings; get those deals off the books and save taxpayers money prior to the end of the fiscal year."
      View article >> 


    InvestmentNews: Colby on the Impact of Migratory Patterns on Munis


    02/17/13: Investment News pics up Colby’s MUNI NATION post about population migration in the U.S.: "My concern is for the economic health — no, survival — of state and local governments that issue tax-exempt debt securities in order to meet the public needs of their inhabitants. The Forbes article points to migratory population shifts that I believe will have very real consequences for certain states (NJ, IL, NY, MI, ME, CT, WI)."
      View article >> 


    ETF Trends: Muni Bond ETFs January Rebound


    02/14/13: MV's James Colby writes about the "political ripples of the fiscal cliff and inauguration finally reaching the edge of the pond, the markets appear to be once again fully engaged in the dissection of domestic economic releases, earnings and European monetary drama." He summarizes January: New flows into municipals, along with cash from calls, maturities and coupon payments are again positive, overwhelming a meager January supply: a formula that is prevalent in most years, coined the January Effect.

    View article >> 


  • MUNI NATION 

  • How to Purchase

    Learn more

CEF Municipal Income ETF XMPT

  • Full Name: Market Vectors®
    CEF Municipal Income ETF (XMPT)

    Management Style: Replication

    Underlying Index: The S-Network Municipal Bond Closed-End Fund Index (CEFMX)

    Index Description: CEFMX is composed of shares of municipal closed-end funds listed in the United States that are principally engaged in asset management processes designed to produce federally tax exempt annual yield.

  •    

    • Fund Ticker

      XMPT

    • Exchange

      NYSE Arca

    • Index Total Return Ticker

      CEFMXTR

    • Index Provider

      S-Network Global Indexes

    • Total Net Assets

      $26.4M

    • Shares Outstanding

      950,000

    • Number of Holdings

      80

    • Commencement Date

      07/12/2011

  •   as of 05/17/13

  • Key Points

    • Potential High Level of Tax-Exempt Income
      A portfolio of municipal CEFs that may produce yields higher than most other fixed income investments

    • Diversification by Asset, Strategy and Manager
      Reduced single fund risk with a portfolio of CEFs managed by leading active fixed income managers

    • The Discount Advantage
      Index assigns a greater weight to CEFs trading at discounts, potentially enhancing yield and the opportunity for capital appreciation

  • Yields as of 05/17/13

    • 30-Day SEC Yield1

      5.32%

    • Distribution Yield1

      5.44%

    • 12-Month Yield1

      5.35%

    • Taxable Equivalent 30-Day SEC Yields1a

    • Federal Tax Rate of 15%

      6.26%

    • Federal Tax Rate of 25%

      7.10%

    • Federal Tax Rate of 28%

      7.39%

    • Federal Tax Rate of 33%

      7.94%

    • Federal Tax Rate of 39.6%

      8.81%
     1/1a See Important Disclosure for definitions.

  • Fees & Expenses2

    • Management Fee

      0.40%

    • Other Expenses

      1.96%

    • Acquired Fund Fees and Expenses

      1.27%

    • Gross Expense Ratio

      3.63%

    • Fee Waivers and
      Expense Reimbursement

      (1.96)%

    • Net Expense Ratio

      1.67%
    2Expenses for XMPT are capped contractually at 0.40% until 09/01/13. Cap excludes certain expenses such as interest, offering costs, trading expenses, taxes, extraordinary expenses and Acquired Fund Fees and Expenses (AFFEs). See Important Disclosure for more information.

  • Trading Information

    • Fund Ticker

      XMPT

    • Index Total Return Ticker

      CEFMXTR

    • NAV

      XMPTNV

    • Intraday NAV (IIV)5

      XMPTIV

    • Shares Outstanding

      950,000

    • Estimated Cash

      XMPTEU

    • Total Cash

      XMPTTC

    • CUSIP

      57060U332

    • ISIN

      US57060U3326
    5See IIV Details. Source: Bloomberg

  • Prices as of 05/17/13

    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
    XMPT $27.78
    $27.73         		9,811
    42,864
    $0.01 / +0.0%
    $-0.02 / -0.1%
    		- 0.6%
    - 0.4%
    		$-0.05
    -0.18%

  • 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
    07/12/11
    XMPT (NAV) 1.03 -2.27 1.24 7.28 -- -- -- 12.81
    XMPT (Share Price) 0.82 -2.43 1.85 6.96 -- -- -- 12.92
    CEFMX (Index) 1.08 -2.18 0.83 7.67 -- -- -- 13.29
    Performance Differential (NAV - Index) -0.05 -0.09 0.41 -0.39 -- -- -- -0.48
    After Tax Held -- -- -- 5.23 -- -- -- 10.70
    After Tax Sold -- -- -- 4.43 -- -- -- 9.07
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/12/11
    XMPT (NAV) -2.00 0.21 0.21 8.69 -- -- -- 12.79
    XMPT (Share Price) -1.38 1.03 1.03 8.90 -- -- -- 13.04
    CEFMX (Index) -1.99 -0.24 -0.24 9.10 -- -- -- 13.26
    Performance Differential (NAV - Index) -0.05 -0.09 0.41 -0.39 -- -- -- -0.48
    After Tax Held -- -- -- 6.61 -- -- -- 10.70
    After Tax Sold -- -- -- 5.28 -- -- -- 9.07

    *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: 82
    Holding Name
    Ticker
    		 Shares Market Value
    (US$)     		% of Net
    Assets
    Nuveen Municipal Value Fund
    NUV US
    		 129,599 1,350,033 5.30
    Nuveen Insured Municipal Opportunity Fu
    NIO US
    		 70,016 1,061,653 4.17
    BlackRock Municipal Target Term Trust
    BTT US
    		 40,224 921,089 3.62
    Nuveen Premium Income Municipal Fund 2
    NPM US
    		 51,983 777,250 3.05
    Nuveen Performance Plus Municipal Fund
    NPP US
    		 44,049 702,890 2.76
    Nuveen Premium Income Municipal Fund
    NPI US
    		 46,834 689,490 2.71
    BlackRock MuniYield Quality Fund III In
    MYI US
    		 43,964 675,815 2.65
    Eaton Vance Municipal Bond Fund
    EIM US
    		 45,076 630,613 2.48
    Nuveen Quality Income Municipal Fund In
    NQU US
    		 40,383 613,640 2.41
    Invesco Insured Municipal Income Trust
    IIM US
    		 34,636 563,528 2.21
    Top 10 Total (%) 31.36

    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.

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

    • State

      % of Net Assets

    • UNITED STATES

      100.1

    • Other

      -0.1

    • Total

      100.0

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

    • U.S. Dollar

      100.14

    • Other

      -0.14

    • Total

      100.00
  • 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.

    1aTaxable equivalent yields (TEY) are used by investors to compare yields on taxable and tax-exempt securities after accounting for federal income taxes. TEY represents the yield a taxable bond investment would have to earn in order to match, after deducting federal income taxes, the yield available on a tax-exempt municipal bond investment. TEY = Tax-Free Municipal Bond Yield/(1 -Tax Rate).

    2XMPT Fees & Expenses: "Acquired Fund Fees and Expenses" reflect the Fund’s pro rata portion of the expenses charged by the Underlying Funds (as defined herein). These expenses are based on the total expense ratio disclosed in each Underlying Fund’s most recent shareholder report. Because Acquired Fund Fees and Expenses are not borne directly by the Fund, they will not be reflected in the expense information in the Fund’s financial statements and the information presented in the table will differ from that presented in the Fund’s financial highlights, when available. 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, extraordinary expenses and Acquired Fund Fees and Expenses) from exceeding 0.40% 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. 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.

    The Fund’s performance, 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.

    S-Network Municipal Bond Closed-End Fund IndexSM is calculated and maintained by S-Network Global Indexes, LLC. S-Network does not sponsor, endorse, or promote the Fund and bears no liability with respect to the Fund or any security.

    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.

    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.