The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.
The “Net Asset Value” (NAV) of a Market Vectors Exchange-Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF’s intraday trading value. Market Vectors ETF investors should not expect to buy or sell shares at NAV.
Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Investors cannot invest directly in an Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested, and fees and expenses. Index returns assume that dividends have been reinvested.
1Performance is based on the following indices. The Barclays AMT-Free Short Continuous Municipal Index (LMT1TR), the underlying index of SMB, is a market value weighted index designed to replicate the price movements of short-duration bonds with a nominal maturity of 1-6 years. The Barclays AMT-Free Intermediate Continuous Municipal Index (LMT2TR), the underlying index of ITM, is a market value weighted index designed to replicate the price movements of medium-duration bonds with a nominal maturity of 6-17 years. The Barclays AMT-Free Long Continuous Municipal Index (LMT3TR), the underlying index of MLN, is a market value weighted index designed to replicate the price movements of long-duration bonds with a nominal maturity of 17 years or more. An index’s performance is not illustrative of any fund’s performance.