Market Vectors Agribusiness ETF (MOO)

The Market Vectors Agribusiness ETF (MOO) started trading at the end of August 2007. It tracks the DAXglobal Agribusiness Index, minus expenses and fees. The ETF uses a replication approach in tracking the index, attempting to own all of the index's components.

The DAXglobal Agribusiness Index measures the performance of corporations involved in agriculture whose shares are traded domestically and abroad. The index is market cap weighted and its components are selected based on the following criteria:

They must be agribusinesses that have a monthly trading volume of at least 250,000 shares in the trailing six months, an average daily dollar volume of at least $1 million in each of the last two months as well as over the past six months, and a market cap of at least $150 million.

As of the end of June 2008, the ETF had the following industry breakdown:

Agriculture chemicals 45.3%
Agriculture equipment 17.3%
Agriproducts 31.7%
Bio fuel 1.7%
Livestock 4%

The ETF is passively managed, with an expense ratio of 0.65%. The expense ratio is capped at 0.65% until May 2009, after which it may rise. The fund's most recent annual turnover rate was 4%.

The ETF has not paid any dividends in the past. It is designed to limit distributions.


The Market Vectors Agribusiness ETF held 43 stocks, as of July 2008. Its holdings are listed below.