Market Vectors launches Treasury-Hedged High Yield Bond Fund ETF

By Toni Weeks

San Luis Obispo, Calif., Feb. 5 - Market Vectors ETF Trust has launched the Treasury-Hedged High Yield Bond Fund ETF, according to an N-1A filing with the Securities and Exchange Commission.

The exchange-traded fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors U.S. Treasury-Hedged High Yield Bond index. It will normally invest at least 80% of its total assets in securities that comprise the index.

The index was designed to provide exposure to below-investment-grade, dollar-denominated corporate bonds and, through the use of Treasury notes, to hedge against rising interest rates.

Michael F. Mazier and Francis G. Rodilosso are the portfolio managers.

The fund's shares will trade on the NYSE Arca under the symbol "THHY."

There are no shareholder fees. Including a 0.45% management fee, and including the effects of a fee waiver agreement with the adviser, annual fund operating expenses will be about 1.45%.

New York-based Van Eck Associates Corp. will serve as the investment adviser.

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