RSXJ Fund Description

The Market Vectors Russia Small-Cap ETF tracks a market-weighted index of small-cap Russian securities and depository receipts.

RSXJ ETF.com Insight

The primary factor that sets RSXJ apart from the Russia small-cap market, as we define it, is its geographic exposure. This discrepancy can be explained by the fact that the fund'sincludes firms with at least 50% of revenue in Russia, regardless of domicile underlying index includes firms that produce at least 50% of their revenue in Russia, regardless of domicile. As a result, about 30% of RSXJ's portfolio is exposed to firms headquartered or listed outside of Russia. By industry, the fund massively overweights utilities and energy at the expense of severely underweighting consumer cyclicals. Meanwhile, RSXJ's Tradability is only fair. The fund sees excellent volume, but bid/ask spreads average nearly 50 bps, which will create difficulties for retail and institutional investors alike. Active traders should avoid RSXJ. (Insight updated 05/19/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/24/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

RSXJ (Mkt)
-6.54% 7.07% -23.13% -18.26% -21.55% -- --

RSXJ (NAV)

-7.13% 5.95% -23.25% -18.96% -21.63% -- --

Market Vectors Russia Small-Cap Index

-7.48% 6.26% -24.62% -19.55% -21.81% -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

RSXJ Top 10 Countries

RSXJ Top 10 Sectors

RSXJ Top 10 Holdings View All

RSXJ Summary Data

Van Eck

A company that produces and manages ETFs.

04/13/11

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.67%

The net total annual fee a fund holder pays to the issuer.

$54.56 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$2.06 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.42%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

RSXJ Portfolio Data

$1.92 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

-3.47

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

0.77

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

3.70%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/29/14

The date on which a security's price excludes an upcoming dividend.

30

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

RSXJ Index Data

Market Vectors Russia
Small-Cap Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI Russia Small Cap

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to RSXJ

RSX, ERUS, RBL

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

RSXJ ETF.com Efficiency Insight

RSXJ hasn't garnered much interest since its 2011 launch. Its AUM is only around $40M. While we don't see any undue closure risk, RSXJ would benefit from increased investor support. Tracking has been loose, at times lagging by more than 3.5%. The good news is that RSXJ refunds 100% of revenues from its securities lending program, so the fund actually beat its index over most periods in the past 2 years. (Insight updated 05/19/2014)


Total Return
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/24/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

RSXJ (Mkt)
-6.54% 7.07% -23.13% -18.26% -21.55% -- --

RSXJ (NAV)
-7.13% 5.95% -23.25% -18.96% -21.63% -- --

Market Vectors Russia Small-Cap Index
-7.48% 6.26% -24.62% -19.55% -21.81% -- --

MSCI Russia Small Cap
-7.64% 9.30% -19.15% -25.13% -30.62% -4.09% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

RSXJ Portfolio Management

0.67%

The net annual fee a fund holder pays to the issuer.

0.04%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

1.20%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-3.64%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

RSXJ Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

RSXJ Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

100% / 0%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

N/A

The multiple of the underlying index which the fund aims to deliver. For funds that reset, the leverage factor holds true only for the reset period, often just 1 day.

N/A

The time period at which the fund “trues up” its leverage factor. For funds that reset, the reset period–often just 1 day–is the length of time over which the fund delivers its leverage factor.

RSXJ ETF.com Tradability Insight

RSXJ's liquidity is somewhat disappointing. The fund trades over $1M on a given day, but average bid/ask spreads are wide at 0.49%. Fortunately, there is some overlap in market hours: Price is often more in line with fair value if you trade in the early morning. Still, underlying holdings are highly illiquid, which means creates/redeems can have major price impact. (Insight updated 05/19/2014)

Average Spread

Premium/Discount

Volume

RSXJ ETF.com/ Block LiquidityAs of 07/25/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of RSXJ. RSXJ is rated a 5 out of 5.

RSXJ Tradability

59,329

The average number of shares traded during a 60 day period.

$2.06 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

53,070

Median number of shares traded over the past 45 trading days.

$1.82 M

Median dollar value of shares traded over the past 45 trading days.

0.42%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

$0.15

The difference between the highest and lowest posted prices for an ETF, averaged over the past 60 days, in dollars.

0.15%

The middle value in the ranked set of all premium/discount values over a 12-month period.

3.34% / -2.15%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

33.93%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

1.06

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.06%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

16.77%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

--

The total number of net outstanding options contracts for an ETF.

$32.42

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

RSXJ ETF.com Fit Insight

RSXJ isn't a great Fit to our 14-holding benchmark, but it has a wider scope (for better or worse), holding 30 securities. To achieve its exposure, RSXJ allocates a large proportion of its assets to Russian firms domiciled and/or listed outside Russia. RSXJ tilts slightly larger: It allocates 6% to midcaps, whereas our benchmark allots 100% to small- and micro-caps. By industry, the ETF overweights utilities and energy, while severely underweighting consumer cyclicals. (Insight updated 05/19/2014)

RSXJ Sector/Industry Breakdown

RSXJ Segment Benchmark
20.41% 29.24%
14.45% 18.63%
-- 15.27%
20.53% 11.33%
24.23% 11.03%
14.39% 10.54%
5.99% 3.29%

RSXJ Geographic Exposure

RSXJ Segment Benchmark
100.00% 82.88%
-- 10.18%
-- 3.30%
-- 1.65%
-- 1.64%
-- 0.35%

RSXJ Segment Benchmark
100.00% 98.00%
-- 1.65%
-- 0.35%
-- / 100.00% 17.12% / 82.88%

RSXJ Performance Statistics

0.81

The degree to which the fund and its segment benchmark move up and down in unison.

0.76

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

0.67

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.84

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.85%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI Russia Small Cap

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

RSXJ Benchmark Comparison

RSXJ
30 Holdings
Segment Benchmark
12 Constituents
Shared Holdings
10 (Count)
 
41.47% (Weight)
RSXJSegment Benchmark
$1.67 B$1.92 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

0%0%
11%28%
89%66%
0%8%
-6.51-3.47

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.070.77

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

4.16%1.71%

The weighted average of the current yield on the portfolio’s holdings.

1230

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

HighHigh

The level of return contribution attributable to the average portfolio constituent.