• Ticker:- HYD;true;LMEHTR;
  • Ticker Group:- ETFFI_MI;false;;
  • Making News

    InvestmentNews: Muni Bond Fund Rebound Appears to Have Legs


    3/13/14: InvestmentNews’ Carol O’Donnell suggests that municipal bonds may be worthwhile for investors to examine despite poor performance during 2013. According to James Colby, municipal bond supply is normalizing and “The question is whether demand is healthy enough to absorb these additional sales without a drop in price.”

    View article » 



    The WSJ: Detroit Rattles Muni Market


    8/07/13: In light of Detroit’s recent default, The Wall Street Journal considers the wider implications of replacing older bonds with new ones that have different terms, as the city’s emergency manager suggests doing. James Colby opines, “You really break the foundation of debt markets if municipalities can freely restructure their obligations.”

    View article » 



    ETF Trends: Sell-Off in Municipal Bond ETFs May be Overdone


    6/18/13: Tom Lydon considers the shift some investors have made away from municipal bond ETFs due to anxiety about higher interest rates. It may be an “overreaction,” he writes. Lydon suggests investing in SMB and consults James Colby, who contends that “muni bonds offer attractive taxable equivalent yields.”

    View article » 



    WSJ: Should You Buy Taxable Muni Bonds?


    06/05/13: According to The Wall Street Journal, institutional investors and mutual funds that can’t capitalize on tax breaks are buying taxable munis, but MV’s James Colby says, “I don’t doubt for a moment that some of these bonds are finding their way into individual accounts.”

    View article » 



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High-Yield Municipal Index ETF HYD

  • Full Name: Market Vectors®
    High-Yield Municipal Index ETF (HYD®)

    Management Style: Sampling

    Underlying Index: The Barclays Municipal Custom High Yield Composite Index (LMEHTR)

    Index Description: LMEHTR is calculated using a market value weighting methodology and it tracks the high-yield municipal bond market with a 75% weight in non-investment grade municipal bonds and a 25% weight in Baa/BBB-rated investment grade municipal bonds for liquidity and balance.

  •  
     

    • Fund Ticker

      HYD
    • Exchange

      NYSE Arca
    • Index Total Return Ticker

      LMEHTR
    • Index Provider

      Barclays
    • Total Net Assets

      $934.1M
    • Shares Outstanding

      31,400,000
    • Number of Holdings

      526
    • Commencement Date

      02/04/2009
  •  
    as of 04/23/14

    • 30-Day SEC Yield1

      5.46%
    • Distribution Frequency

      Monthly
    • Gross Expense Ratio2

      0.35%
    • Net Expense Ratio2

      0.35%
    • Options

      Available
    • Preliminary NAIC Designation7

      4
    • Management Team »
    • HYD Fact Sheet »

    1, 2, 7 See Important Disclosure

  • Geographical Weightings (%)
    as of 03/31/14

    • State

      % of Net Assets
    • CA

      7.7
    • PR

      7.3
    • FL

      6.8
    • NY

      6.4
    • TX

      6.3
    • NJ

      5.8
    • OH

      5.7
    • IL

      5.2
    • AZ

      3.3
    • VA

      3.0
    • KS

      2.9
    • IN

      2.8
    • MI

      2.4
    • WA

      2.4
    • PA

      2.3
    • CO

      2.2
    • SC

      1.8
    • AL

      1.7
    • WV

      1.7
    • KY

      1.6
    • Other

      20.7
    • Total

      100.0
  • Portfolio Composition (%)
    as of 03/31/14

    • % of Net Assets

    • Stocks

      0.00
    • Bonds

      99.08
    • Other

      0.00
    • Cash

      0.92
    • Total

      100.00
  • Currency Exposure (%)
    as of 03/31/14

    • U.S. Dollar

      99.08
    • Other

      0.92
    • Total

      100.00
  • Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    Investment Grade A 0.79
    BBB 18.40
    Non-Investment Grade BB 26.87
    B 13.89
    CCC 2.14
    Total Investment Grade 19.19
    Total Non-Investment Grade 42.89
    Total Not rated 36.98
    Barclays Composite Rating: A blend of a security's Moody's, S&P, and Fitch ratings. If all three agencies rate the security, the middle rating is taken. If only two agencies rate a security, the lower rating is taken. If only one agency rates a security, that rating is used. Not rated indicates that a security is rated by fewer than one of the three rating agencies. This composite is not intended to be a credit opinion.
  • 3-YR Risk Measures*
    as of 03/31/14

    • Beta vs. S&P 500 Index

      -0.02
    • Correlation vs. S&P 500 Index

      -0.04
    • Volatility (Standard Deviation)

      6.56
    • Sharpe Ratio

      1.12

    Source: Van Eck Global, FactSet

    *Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the ETF performance and the index performance. Volatility is the annualized standard deviation of the ETF's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the ETF's return less the risk free rate divided by the standard deviation. See S&P 500 Index definition.6

  • Sector Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • Health Care Facilities

      37.9
    • IDR/PCR

      30.2
    • Education

      8.0
    • Special Tax

      6.2
    • Transportation

      5.6
    • Water Utilities

      3.4
    • Leasing

      2.5
    • Power Utilities

      2.3
    • State General

      1.5
    • Cash

      0.9
    • Housing

      0.8
    • Local General

      0.7
    • Total

      100.0