The Market Vectors ETF Trust announced today the following 2011 distributions per share for two of their industry exchange-traded funds. The following dates apply to today’s distribution declarations:
December 28, 2011
December 30, 2011
January 4, 2012
Market Vectors Bank and Brokerage ETF
Market Vectors Retail ETF
Passive Foreign Investment Company (PFIC) Income Several Market Vectors ETFs may make investments in non-U.S. corporations classified as “passive foreign investment companies.” Generally speaking, PFICs are non-U.S. corporations having 50% or more of their assets invested in cash or securities, or having 75% or more of their gross income originating from passive sources, including but not limited to interest, dividends and rents. In other words, these foreign companies primarily derive their revenue streams from investments (rather than operations). Please refer to your Market Vectors ETF’s Statement of Additional Information (SAI) for further information on PFICs.