Van Eck To Introduce Two New Bond ETFs
Van Eck, the ETF issuer behind the Market Vectors series of ETFs, is planning to step away from its usual natural resources and emerging market-specific offerings with the introduction of two new bond ETFs.
The two new ETFs are the Market Vector Emerging Markets Local Currency Debt ETF and the Market Vectors Investment Grade Floating Rate ETF. The currency ETF will focus on non-dollar denominated emerging market debt and the other ETF is a play on floating-rate investment-grade bonds.
The emerging markets ETF will hold debt issues with at least $100 million in outstanding value and at least one year to maturity. The floating-rate ETF will also focus on bonds with one-year maturities or longer. The floating-rate ETF will be the first of its class to be offered to U.S. investors.
These offerings bring the total of Van Eck ETFs to 26.
