This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Vectors Announces Upcoming Changes To Its LatAm Aggregate Bond ETF (BONO)

Market Vectors ETFs today announced changes to its Market Vectors® LatAm Aggregate Bond ETF (NYSE Arca:BONO®). On or about December 10, 2013, BONO will change its ticker, fund name, and investment strategy, and will be renamed the Market Vectors® Emerging Markets Aggregate Bond ETF (NYSE Arca:EMAG) to reflect its new investment objective which will be to seek to track, before fees and expenses, the price and yield performance of the Market Vectors® EM Aggregate Bond Index (MVEMAG). Fund shareholders are not required to take any action with respect to the foregoing .

The MVEMAG index includes the four major categories of emerging markets bonds: U.S. dollar and Euro denominated sovereigns, local currency sovereigns, U.S. dollar and Euro denominated corporates, and local currency corporates. Additionally, the index is expected to continue to include Latin American debt as an important component, and will include Asian, Eastern European, Middle Eastern, and African debt as well.

“By changing BONO to EMAG, we are seeking to introduce an efficient means for investors to gain access to a broad exposure of emerging markets bonds in a single ETF,” said Ed Lopez, Marketing Director with Market Vectors ETFs.

“A key feature of the MVEMAG index is that it has a relatively balanced exposure to both local currency and hard currency debt,” added Mr. Lopez. “We expect that this will allow the ETF to maintain broadly diversified exposure within the emerging markets debt universe, presenting an attractive option to investors who are not able to devote significant resources to researching currencies and credit ratings.”

Van Eck’s Market Vectors ETF family also includes Emerging Markets High Yield Bond ETF (NYSE Arca:HYEM), Emerging Markets Local Currency Bond ETF (NYSE Acra:EMLC), and Renminbi Bond ETF (NYSE Arca:CHLC).

EMAG is expected to have a gross expense ratio of 1.26 percent and a net expense ratio of 0.49 percent, which are the same expense ratios currently associated with BONO. Van Eck Global, which sponsors the Market Vectors family of ETFs, has agreed to waive fees and/or pay EMAG’s expenses to prevent the operating expenses of the Fund (excluding certain expenses, such as interest) from exceeding 0.49 percent of the fund’s average daily net assets per year until at least September 1, 2015.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs