Egypt ETF

Market Vectors Egypt Index ETF

The Market Vectors Egypt Index ETF (EGPT) is an Egypt ETF that was floated by Van Eck Global on February 2010 on the NYSE Arca exchange. This Egypt Index ETF seeks to closely mimic the price and yield performance of the Market Vectors Egypt Index before fees. The Market Vectors Egypt Index is a rules-based, modified capitalization-weighted, float-adjusted index intended to give investors exposure to Egypt.

While considered the only pure play Egypt ETF listed on US exchanges, the Market Vectors Egypt Index Exchange Traded Fund (EGPT) has been thinly traded since its inception. It opened trading on February 16, 2010 at $20.54 and closed the year at $20.19 having had recovered from the mid $16 range earlier in the year shortly after its debut. One of the main attractions of such an Egyptian Market ETF listed in the US is the ability to short it (for hedging purposes) if you are an international investor who happens to own Egypt listed equities or if you have any Egypt investment exposure. However the dearth of volume makes it hard to do so in a large scale if you are an emerging markets portfolio manager.

The Market Vectors Egypt Index ETF (EGPT) vital stats:

Symbol: EGPT

Exchange: NYSE Arca

Assets Under Management: ~$13 Mill (As of January 2011)

Expense Ratio: 0.94%

Dividend Yield: NA

Price at issuance: $20.54

Options: Not yet

Inception Date: 2/16/2010

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