Market Vectors Pre-Refunded Municipal Index ETF (PRB)

Fund Description

The investment seeks to replicate the Barclay Capital Municipal Pre-Refunded-Treasury-Es crowed Index. The fund normally invests at least 80% of total assets in securities that comprise the benchmark index. The benchmark is comprised of publicly traded municipal bonds that cover the U.S. dollar denominated high yield tax-exempt bond market. The fund may concentrate its investments in a particular industry or group of industries to the extent that the Pre-Refunded Index concentrates in an industry or group of industries. It is non-diversified.