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Market Vectors Reduces Expense Cap for Indonesia Index ETF (IDX)

Tuesday, May 1, 2012 9:00 AM


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.


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