The Van Eck
] team just launched a new ETF that contrasts with similar freshly-launched ETFs from iShares and WisdomTree. Benzinga
and Dow Jones
both report on the debut yesterday of the Market Vectors Emerging Markets High Yield Bond ETF
(HYEM), which the Van Eck team describes as the first ETF focusing on dollar-denominated, high-yield corporate bonds.
notes that the ETF will be taking on the iShares Emerging Markets Corporate Bond Fund
and the WisdomTree Emerging Markets Corporate Bond Fund
, which came to market earlier in 2012.
The new ETF has a 40-basis-point net expense ratio and its benchmark is the BofA Merrill Lynch High Yield US Emerging Markets Liquid Corporate Plus Index
. It is Van Eck's 49th Market Vectors ETF.
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