0001137360
2011-04-01
2011-04-01
0001137360
cik0001137360:S000031767Member
2011-04-01
2011-04-01
0001137360
cik0001137360:S000031767Member
cik0001137360:C000098931Member
2011-04-01
2011-04-01
iso4217:USD
xbrli:pure
"Other Expenses" are based on estimated amounts for the current fiscal year.
Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.55% of the Fund's average daily net assets per year until at least May 1, 2012. During such time, the expense limitation is expected to continue until the Fund's Board of Trustees acts to discontinue all or a portion of such expense limitation.
MARKET VECTORS ETF TRUST
485BPOS
false
0001137360
2011-04-01
2011-04-01
2011-04-01
2011-04-04
RISK/RETURN
INVESTMENT OBJECTIVE
<p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">Market Vectors Germany Small-Cap ETF (the “Fund”) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Germany Small-Cap Index (the “Index”).</font></p>
FUND FEES AND EXPENSES
<p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">This table describes the fees and expenses that you may pay if you buy and hold Shares of the Fund.</font></p>
0.00
0.0050
0.0013
0.0063
-0.0008
0.0055
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2012-05-01
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
EXPENSE EXAMPLE
<p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. This example does not take into account brokerage commissions that you pay when purchasing or selling Shares of the Fund.</font></p>
56
194
~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact cik0001137360_S000031767Member column rr_ProspectusShareClassAxis compact * row primary compact * ~
The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your Shares at the end of those periods. The example also assumes that your investment has a 5% annual return and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
PORTFOLIO TURNOVER
<p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">The Fund will pay transaction costs, such as commissions, when it purchases and sells securities (or “turns over” its portfolio). A higher portfolio turnover will cause the Fund to incur additional transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, may affect the Fund’s performance. Because the Fund is newly organized, no portfolio turnover figures are available.</font></p>
PRINCIPAL INVESTMENT STRATEGIES
<p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">The Fund normally invests at least 80% of its total assets in securities that comprise the Fund’s benchmark index. The Fund’s benchmark index is comprised of securities and depositary receipts of German small-capitalization companies. The Fund will normally invest at least 80% of its total assets in securities of small-capitalization German companies. The Fund’s 80% investment policy is non-fundamental and requires 60 days’ prior written notice to shareholders before it can be changed.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">The Fund, using a “passive” or indexing investment approach, attempts to approximate the investment performance of the Index by investing in a portfolio of securities that generally replicates the Index. The Adviser expects that, over time, the correlation between the Fund’s performance and that of the Index before fees and expenses will be 95% or better. A figure of 100% would indicate perfect correlation.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">The Fund may concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry or group of industries. As of the date of this Prospectus, the industrials sector represents a significant portion of the Index.</font></p>
The Fund may concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry or group of industries. As of the date of this Prospectus, the industrials sector represents a significant portion of the Index.
PRINCIPAL RISKS OF INVESTING IN THE FUND
<p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;"><b>Investors in the Fund should be willing to accept a high degree of volatility in the price of the Fund’s Shares and the possibility of significant losses. An investment in the Fund involves a substantial degree of risk. Therefore, you should consider carefully the following risks before investing in the Fund.</b></font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Special Risk Considerations of Investing in German Issuers.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">The German economy is dependent on the other countries in Europe as key trade partners. Exports account for more than one-third of Germany’s output and are a key element in German economic expansion. Reduction in spending by European countries on German products and services or negative changes in any of these countries may cause an adverse impact on the German economy. In addition, the U.S is a large trade and investment partner of Germany. Decreasing U.S. imports, new trade regulations, changes in the U.S. dollar exchange rates or a recession in the United States may also have an adverse impact on the German economy.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">The Economic and Monetary Union of the European Union (the “EU”) requires compliance with restrictions on inflation, deficits, interest rates, public debt and fiscal and monetary controls, each of which may significantly affect each country in Europe. Decreasing imports or exports, changes in governmental or EU regulations on trade, changes in the exchange rate of the euro, the default or threat of default by an EU country on its sovereign debt, and recessions in an EU country may have a significant adverse effect on the economies of EU countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about rising government debt levels of several European countries, including Greece, Spain, Ireland, Italy and Portugal. These events have adversely affected the exchange rate of the euro and may continue to significantly affect other countries in Europe.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">Investing in German issuers involves political, social and regulatory risks. Certain sectors and regions of Germany have experienced high unemployment and social unrest. These issues may have an adverse affect on the German economy or the German industries or sectors in which the Fund invests. Heavy regulation of labor and product markets is pervasive in Germany. These regulations may stifle economic growth or result in extended recessionary periods.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Risks of Investing in the Industrials Sector.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">To the extent the Index includes securities of issuers in the industrials sector, the Fund will invest in companies in such sector. As such, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the industrials sector. Companies in the industrials sector may be adversely affected by changes in government regulation, world events and economic conditions. In addition, companies in the industrials sector may be adversely affected by environmental damages, product liability claims and exchange rates. The stock prices of companies in the industrials sector are affected by supply and demand both for their specific product or service and for industrial sector products in general. The products of manufacturing companies may face product obsolescence due to rapid technological developments and frequent new product introduction. In addition, the industrials sector may also be adversely affected by changes or trends in commodity prices, which may be influenced or characterized by unpredictable factors.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Market Risk.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">The prices of the securities in the Fund are subject to the risk associated with investing in the stock market, including general economic conditions and sudden and unpredictable drops in value. An investment in the Fund may lose money.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Index Tracking Risk.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">The Fund’s return may not match the return of the Index for a number of reasons. For example, the Fund incurs a number of operating expenses not applicable to the Index and incurs costs associated with buying and selling securities, especially when rebalancing the Fund’s securities holdings to reflect changes in the composition of the Index and raising cash to meet redemptions or deploying cash in connection with newly created Creation Units (defined herein). Because the Fund bears the costs and risks associated with buying and selling securities while such costs and risks are not factored into the return of the Index, the Fund’s return may deviate significantly from the return of the Index. In addition, the Fund may not be able to invest in certain securities included in the Index, or invest in them in the exact proportions they represent of the Index, due to legal restrictions or limitations imposed by the government of Germany or a lack of liquidity on stock exchanges in which such securities trade. The Fund is expected to value some or all of its investments based on fair value prices. To the extent the Fund calculates its net asset value (“NAV”) based on fair value prices and the value of the Index is based on securities’ closing price on local foreign markets (<i>i.e.</i>, the value of the Index is not based on fair value prices), the Fund’s ability to track the Index may be adversely affected.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Replication Management Risk.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">An investment in the Fund involves risks similar to those of investing in any fund of equity securities traded on an exchange, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in security prices. However, because the Fund is not “actively” managed, unless a specific security is removed from the Index, the Fund generally would not sell a security because the security’s issuer was in financial trouble. Therefore, the Fund’s performance could be lower than other types of mutual funds that may actively shift their portfolio assets to take advantage of market opportunities or to lessen the impact of a market decline or a decline in the value of one or more issuers.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Risk of Investing in Small-Capitalization Companies.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">Small-capitalization companies may be more volatile and more likely than large- and medium-capitalization companies to have narrower product lines, fewer financial resources, less management depth</font></p> <p><font style="font-family:sans-serif; font-size:3.5mm;">and experience and less competitive strength. Returns on investments in stocks of these companies could trail the returns on investments in stocks of larger companies. As of the date of this Prospectus, the Index included 95 securities of companies with a market capitalization range of between approximately $165 million and $4.5 billion with an average market capitalization of $1.2 billion. These amounts are subject to change.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Non-Diversified Risk.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940, as amended (“1940 Act”). Therefore, the Fund may invest a relatively high percentage of its assets in a smaller number of issuers or may invest a larger proportion of its assets in a single company. As a result, the gains and losses on a single investment may have a greater impact on the Fund’s NAV and may make the Fund more volatile than more diversified funds.</font></p> <p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm; color:#c1ef00;"><i>Concentration Risk.</i></font> <font style="font-family:sans-serif; font-size:3.5mm;">The Fund’s assets may be concentrated in a particular sector or sectors or industry or group of industries to the extent the Index concentrates in a particular sector or sectors or industry or group of industries. In addition, the Fund’s assets will be concentrated in Germany. To the extent that the Fund’s investments are concentrated in a particular sector, industry or country, the Fund will be susceptible to loss due to adverse occurrences affecting that sector, industry or country.</font></p>
Market Risk. The prices of the securities in the Fund are subject to the risk associated with investing in the stock market, including general economic conditions and sudden and unpredictable drops in value. An investment in the Fund may lose money.
Non-Diversified Risk. The Fund is classified as a "non-diversified" investment company under the Investment Company Act of 1940, as amended ("1940 Act"). Therefore, the Fund may invest a relatively high percentage of its assets in a smaller number of issuers or may invest a larger proportion of its assets in a single company. As a result, the gains and losses on a single investment may have a greater impact on the Fund's NAV and may make the Fund more volatile than more diversified funds.
PERFORMANCE
<p style="margin:2.1mm 0 0;"><font style="font-family:sans-serif; font-size:3.5mm;">The Fund has not yet commenced operations and therefore does not have a performance history. Once available, the Fund’s performance information will be accessible on the Fund’s website at vaneck.com/etf.</font></p>
The Fund has not yet commenced operations and therefore does not have a performance history.
Once available, the Fund's performance information will be accessible on the Fund's website at vaneck.com/etf.