Market Vectors  today unveiled the previously announced changes to the exchange traded fund formerly known as the Market Vectors LatAm Aggregate Bond ETF.

That ETF, which traded on the New York Stock Exchange under the ticker BONO, is now the Market Vectors Emerging Markets Aggregate Bond ETF (NYSEArca: EMAG).

“EMAG seeks to track, before fees and expenses, the price and yield performance of the Market Vectors EM Aggregate Bond Index (MVEMAG), which includes the four major categories of emerging markets bonds: 1) U.S. dollar and Euro denominated sovereigns; 2) local currency sovereigns; 3) U.S. dollar and Euro denominated corporates; and, 4) local currency corporates.

“The index is also diversified across credit qualities, with approximately 70% of the underlying constituents currently receiving investment grade ratings, and across currencies, with approximately half of the index currently made up of bonds issued in U.S. dollars or Euros and the other half in local emerging markets currencies,” according to a statement issued by Market Vectors.

While BONO was heavily tilted toward Brazilian and Mexican debt, EMAG features debt from Africa, Asia, Eastern Europe, and the Middle East. As of November 30, 2013, Mexico (with a weighting of 9.78 percent), Brazil (9.46 percent), Russia (9.30 percent), China (6.73 percent), and Poland (5.36 percent) represented the five largest country weightings in the index, according to Market Vectors.

Market Vectors has had success with several global bond ETFs, including the $931.5 million Market Vectors Emerging Markets Local Currency Bond ETF (NYSEArca: EMLC), the $124.4 million Market Vectors International High Yield Bond ETF (NYSEArca: IHY) and the $237.1 million Market Vectors Emerging Markets High Yield Bond ETF (NYSEArca: HYEM).

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.