AFK - Africa ETF | Market Vectors ETF | Holdings- Van Eck Global

Ticker:- AFK;false;DJAFKT;
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Africa Index ETF AFK

Full Name: Market Vectors^®
Africa Index ETF (AFK)
Management Style: Replication
Underlying Index: Dow Jones Africa Titans 50 Index^SM (DJAFKT)
Index Description: DJAFKT is a rules-based, modified capitalization-weighted, float-adjusted index comprised of publicly traded companies that are headquartered in Africa or that generate the majority of their revenues in Africa.
Fund Ticker
AFK

Exchange
NYSE Arca

Index Total Return Ticker
DJAFKT

Index Provider
Dow Jones

Total Net Assets
$98.6M

Shares Outstanding
3,250,000

Number of Holdings
52

Commencement Date
07/10/2008
as of 05/21/13

30-Day SEC Yield¹
1.75%

Distribution Frequency
Annually

Gross Expense Ratio²
0.91%

Net Expense Ratio²
0.80%

Options
Expected

Management Team »

Foreign Investor Information »

AFK Fact Sheet

Portfolio Composition (%) as of 05/20/13

% of Net Assets

Stocks
100.55

Bonds
0.00

Other
0.00

Cash
-0.55

Total
100.00

Download All Holdings All Holdings (%) as of 05/20/13

Total Holdings: 52

	Holding Name	Ticker	Shares	Market Value (US$)	% of Net Assets
	Guaranty Trust Bank PLC	GUARANTY NL	39,701,362	6,787,060	6.90
	Old Mutual PLC	OML LN	1,761,499	5,956,435	6.06
	Tullow Oil PLC	TLW LN	348,070	5,597,101	5.69
	Zenith Bank PLC	ZENITHBA NL	40,200,203	5,541,942	5.63
	First Bank of Nigeria PLC	FBNH NL	44,449,210	5,528,712	5.62
	Nigerian Breweries PLC	NB NL	4,738,557	5,279,293	5.37
	Naspers Ltd	NPN SJ	57,983	4,396,052	4.47
	MTN Group Ltd	MTN SJ	220,143	4,207,586	4.28
	Orascom Construction Industries	OCIC EY	122,379	4,206,699	4.28
	Commercial International Bank Egypt SAE	COMI EY	813,504	4,038,420	4.11
	Attijariwafa Bank	ATW MC	90,459	3,493,811	3.55
	First Quantum Minerals Ltd	FM CN	182,635	3,366,830	3.42
	Sasol Ltd	SOL SJ	71,690	3,155,987	3.21
	Randgold Resources Ltd	GOLD US	35,232	2,639,135	2.68
	Maroc Telecom	IAM MC	203,565	2,573,007	2.62
	Orascom Telecom Holding SAE	ORTE EY	3,572,663	2,406,781	2.45
	Acergy SA	SUBC NO	107,312	2,336,139	2.37
	United Bank for Africa PLC	UBA NL	42,229,513	2,291,545	2.33
	Standard Bank Group Ltd/South Africa	SBK SJ	182,509	2,123,398	2.16
	Remgro Ltd	REM SJ	67,696	1,421,962	1.45
	Banque Centrale Populaire	BCP MC	63,677	1,417,736	1.44
	Equity Bank Ltd	EQBNK KN	3,278,350	1,360,754	1.38
	Sanlam Ltd	SLM SJ	262,986	1,355,549	1.38
	Banque Marocaine du Commerce Exterieur	BCE MC	58,669	1,340,252	1.36
	FirstRand Ltd	FSR SJ	364,923	1,189,071	1.21
	Douja Promotion Groupe Addoha SA	ADH MC	188,792	1,138,409	1.16
	Bidvest Group Ltd	BVT SJ	37,815	1,024,817	1.04
	Aspen Pharmacare Holdings Ltd	APN SJ	44,227	1,012,573	1.03
	Egyptian Kuwaiti Holding Co	EKHO EY	926,017	981,578	1.00
	Shoprite Holdings Ltd	SHP SJ	52,186	941,703	0.96
	Telecom Egypt	ETEL EY	465,052	912,526	0.93
	AngloGold Ashanti Ltd	ANG SJ	53,879	910,967	0.93
	Talaat Moustafa Group	TMGH EY	1,489,748	900,008	0.91
	Afren PLC	AFR LN	416,520	893,004	0.91
	Impala Platinum Holdings Ltd	IMP SJ	76,444	776,430	0.79
	ABSA Group Ltd	ASA SJ	44,466	681,458	0.69
	Lonmin PLC	LMI LN	163,183	659,722	0.67
	Gold Fields Ltd	GFI SJ	102,648	607,160	0.62
	Egyptian Financial Group-Hermes Holding	HRHO EY	436,595	593,638	0.60
	Vodacom Group Ltd	VOD SJ	43,967	531,342	0.54
	African Minerals Ltd	AMI LN	95,253	374,962	0.38
	ElSwedy Cables Holding Co	SWDY EY	109,391	313,824	0.32
	Paladin Energy Ltd	PDN AU	297,045	280,745	0.29
	Nevsun Resources Ltd	NSU CN	76,261	252,237	0.26
	Orascom Telecom Media And Technology Ho	OTMT EY	3,429,756	240,704	0.24
	Petra Diamonds Ltd	PDL LN	143,487	228,620	0.23
	Perseus Mining Ltd	PRU AU	174,781	187,553	0.19
	Resolute Mining Ltd	RSG AU	251,441	180,097	0.18
	SEMAFO Inc	SMF CN	104,762	157,966	0.16
	Aquarius Platinum Ltd	AQP LN	173,609	111,772	0.11
	United Bank for Africa PLC	0102583D NL	40,301	623	0.00
	Other/Cash			-536,414	-0.55
Total (%)					100.01

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Important Disclosure

¹30-Day SEC Yield is calculated daily, 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 12-Month yield is calculated by summing any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months.

²AFK 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 acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.78% of the Fund’s average daily net assets per year until at least May 1, 2014. 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. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

⁴IIV 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.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

The Fund is subject to a high degree of risk, including those associated with less reliable financial information, higher costs, taxation, decreased liquidity, less stringent reporting, and foreign currency risks. Special risks particular to African investments include expropriation, political instability, economic impacts of armed conflict, civil war and severe social instability, less developed capital markets, lower market capitalization, lower trading volume, illiquidity, inflation, greater price fluctuations, uncertainty regarding the existence of trading markets, politically controlled access to trading markets, unsettled securities laws, and trade barriers. Investors should be willing to accept a high degree of volatility and the potential of significant loss.

The Dow Jones Africa Titans 50 Index^SM is calculated and maintained by Dow Jones Indexes. “Dow Jones^®”, “Titans” and “Dow Jones Africa Titans 50 Index” are service marks of Dow Jones & Company, Inc. Van Eck's Market Vectors Africa Index ETF is not sponsored, endorsed, sold or promoted by Dow Jones Indexes and Dow Jones Indexes makes no representation regarding the advisability of investing in such product(s). 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 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 “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.

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

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Africa Index ETF AFK

as of 05/21/13

Portfolio Composition (%) as of 05/20/13

Download All Holdings All Holdings (%) as of 05/20/13

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