The Market Vectors RVE Hard Assets Producers ETF (NYSEArca: HAP) is now the Market Vectors Natural Resources ETF. The ETF is keeping the ticker HAP.
HAP name change “follows the rebranding of the Fund’s benchmark index from the RogersTM-Van Eck Hard Assets Producers Index to the RogersTM-Van Eck Natural Resources Index,” according to a statement issued by Market Vectors.
HAP’s new index holds “companies that are principally engaged in the production and distribution of commodities and commodity-related products and services in agriculture, energy, precious metals, base and industrial metals, alternatives, and forest products,” said Market Vectors.
The $102.8 million HAP launched in August 2008 and holds 342 companies. Top holdings include Exxon Mobil (NYSE: XOM), Monsanto (NYSE: MON), Chevron (NYSE: CVX) and Deere (NYSE: DE).
U.S. companies represent 47.1% of HAP’s weight with Canada and the U.K. combining for another 19.2%. The energy and materials sectors combine for over 80% of the ETF’s sector weight.