Index to underlie the VanEck Vectors® Energy Income ETF
FRANKFURT, Germany–(BUSINESS WIRE)–Today, MV Index Solutions (MVIS) announced the licensing of the MVIS North America Energy Infrastructure Index (MVEINC) to VanEck for the VanEck Vectors® Energy Income ETF (NYSE Arca: EINC). VanEck today announced to revamp an energy income ETF to better reflect investor needs and trends in the category. The VanEck Vectors® High Income MLP ETF (NYSE Arca: YMLP®) has been renamed the VanEck Vectors® Energy Income ETF (NYSE Arca: EINC). In addition to the new name and ticker, EINC is also now seeking to track the MVIS North America Energy Infrastructure Index.
The MVIS North America Energy Infrastructure Index is a rules based, modified capitalisation weighted, float adjusted index, intended to give investors a means of tracking the overall performance of companies involved in the midstream energy segment, which includes MLPs and corporations involved in oil and gas storage. The Index limits exposure to companies taxed as partnerships to 24% of its weighting each quarter, allowing the Fund to offer comprehensive exposure to the asset class without K-1 tax forms or fund-level taxation.
“The MVIS North America Energy Infrastructure Index complements our range of indices in the oil sector, which already covers unconventional oil production, oil services and refining,” said Thomas Kettner, Managing Director at MV Index Solutions. “It also follows the high index quality standards which are applied to all MVIS Indices leading to pure-play exposure and liquid, investable and well-diversified indices.”
“We’re very pleased to be announcing these changes, which should better position EINC as an attractive option for investors looking to access the attractive yield potential and growth prospects of the asset class,” said Ed Lopez, Head of ETF Product with VanEck. “The recent history of industry consolidation and restructuring in energy infrastructure only reaffirms the importance of looking beyond a company’s tax status to access this segment of the market.”
Key Index Features Full Market Capitalisation (bn USD): 487.76
Number of Components: 29
Base Date/Base Value: 31.12.2013/1000
Top 5 Companies by Weighting: Enbridge Inc. (9.62%), Tc Energy Corp. (8.95%), Kinder Morgan Inc. (7.39%), Williams Cos Inc. (6.51%), Oneok Inc. (6.34%)
(Data as of 30 November 2019)
Note to Editors:
MV Index Solutions (MVIS®) develops, monitors and licenses the MVIS Indices, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products.
Approximately USD 14.57 billion in assets under management are currently invested in financial products based on MVIS Indices. MVIS is a VanEck company.
Nibha Ritter, MV Index Solutions
+49 (0)69 4056 695 22