Van Eck Associates Corporation is lowering the expense cap for its Market
Vectors Indonesia Index ETF (NYSE Arca: IDX) from 60 basis points
(bps) to 57 bps, effective today. This marks the second time in IDX’s
more than three-year history that its expense cap has been lowered.
IDX seeks to replicate as closely as possible, before fees and expenses,
the price and yield performance of the Market Vectors Indonesia Index
(MVIDXTR), a rules-based, modified market capitalization-weighted,
float-adjusted index intended to give investors exposure to Indonesia.
As of March 31, the fund had approximately $537 million in assets under
management.
“We are committed to building and maintaining a family of ETFs focused
on providing investors with access to opportunities in emerging markets,
hard assets, fixed income and more. Wherever possible, we look to reduce
fees and expenses and pass those savings along to our investors,” said
Adam Phillips, Chief Operating Officer of Market Vectors ETFs. “We’re
pleased to lower IDX’s expense cap for the second time, and IDX
currently has the lowest net expense ratio among the Indonesia-focused
ETFs in the marketplace.”
IDX was the first U.S.-listed ETF to focus on Indonesian equities at the
time of its launch and currently holds Morningstar 5-star ratings in
both the 3-year and overall categories.+ The Fund was
recently joined in the Market Vectors suite by another first-of-its-kind
offering, Market
Vectors Indonesia Small-Cap ETF (IDXJ), which launched in March 2012
and seeks to track an index that focuses exclusively on equities of
small-cap companies that are domiciled and primarily listed in Indonesia
or that generate the majority of their revenues in Indonesia. Together,
IDX and IDXJ provide full coverage of the Indonesian equity market cap
spectrum.
“Indonesia’s growth over the past several years has been impressive, and
we believe the outlook remains bright, driven in part by rising domestic
consumption and higher levels of disposable income,” said Ed Lopez,
Marketing Director at Market Vectors ETFs. “By lowering the expense cap
of IDX, we have made investing in the compelling Indonesian growth story
even more affordable for our investors.”
IDX and IDXJ are part of the Market Vectors family of ETFs that also
includes small- and all-cap emerging markets and international
exchange-traded funds such as India
Small-Cap Index (SCIF); Germany
Small-Cap ETF (GERJ); Russia
ETF (RSX); Russia
Small-Cap ETF (RSXJ); Poland
ETF (PLND); Vietnam
ETF (VNM); and Brazil
Small-Cap ETF (BRF), among others.
About Market Vectors ETFs
Market Vectors exchange-traded products have been offered since 2006 and
span many asset classes, including equities, fixed income (municipal and
international bonds) and currency markets.