Van Eck Global To Begin Trading The Market Vectors Short High-Yield Municipal Index ETF (NYSEArca:SHYD)

new9Van Eck Global has announced that they will begin trading the Market Vectors Short High-Yield Municipal Index ETF (NYSEArca:SHYD) on Tuesday, January 14, 2014. The Market Vectors Short High-Yield Municipal Index ETF (the “Fund”) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Barclays Municipal High Yield Short Duration Index.


Total Annual Fund Operating Expenses: 0.35%


Principal Investment Strategies


The Fund normally invests at least 80% of its total assets in securities that comprise the benchmark index. The Index is composed of publicly traded municipal bonds that cover the U.S. dollar denominated high yield short-term tax-exempt bond market. All bonds must have a fixed rate, a dated-date (i.e., the date when interest begins to accrue) after December 31, 1990 and a nominal maturity of 1 to 10 years. As of December 31, 2013, the Index consisted of approximately 1,619 bonds and 497 issuers. This 80% investment policy is non-fundamental and may be changed without shareholder approval upon requires 60 days’ prior written notice to shareholders.


The Fund has adopted a fundamental investment policy to invest at least 80% of its assets in investments suggested by its name. For purposes of this policy, the term “assets” means net assets plus the amount of any borrowings for investment purposes. This percentage limitation applies at the time of the investment.


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