Market Vectors plans international dollar-denominated high-yield ETF

By Toni Weeks

San Diego, Jan. 30 - Market Vectors ETF Trust announced plans to launch the Market Vectors International U.S.$ High Yield Bond ETF, according to an N-1A filing with the Securities and Exchange Commission.

The exchange-traded fund will seek to replicate as closely as possible, before fees and expenses, the price and yield performance of an index, which has not yet been selected. It will invest at least 80% of its total assets in securities that comprise the index, which will consist of dollar-denominated, high-yield debt issued by corporations throughout the world.

The portfolio manager will be Michael F. Mazier.

The fund will trade on the NYSE Arca. The ticker symbol has not been determined.

Fees and expenses have not yet been disclosed.

The fund's investment adviser will be New York-based Van Eck Associates Corp.

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