Market Vectors Indonesia ETF Reaches $500M AUM

The Market Vectors Indonesia ETF (NYSE: IDX), the first Indonesia-specific ETF listed in the U.S., has reached the lofty $500 million in assets under management level, according to Van Eck, the parent company of Market Vectors. IDX made its debut in January 2009 and in that time has established itself as the leader among Indonesia-specific ETFs listed in the U.S. iShares, the largest U.S. ETF issuer, introduced the iShares MSCI Indonesia Investable Market Index Fund (NYSE: EIDO) a year ago, and while that fund has done admirably in attracting assets, its $184.4 million in AUM is still dwarfed by IDX. As of March 31, the index IDX tracks contained 35 stocks covering an array of sectors, including banks with a weight of 26.6%, consumer discretionary with a weight of 13.7%, energy with an allocation of 15.5% and materials with a weight of 12.7%. Bank Central Asia, Astra International and Telekomunik Indonesia are the ETF's top three holdings. Earlier this year, Van Eck cut the expense ratio on IDX to 0.6% from 0.68% and the shares were later split three-for-one. In addition to IDX, there are six other Market Vectors ETFs with over $500 million in AUM. Those funds are the following: The Market Vectors Agribusiness ETF (NYSE: MOO), the Market Vectors Coal ETF (NYSE: KOL), the Market Vectors Gold Miners ETF (NYSE: GDX), the Market Vectors Junior Gold Miners ETF (NYSE: GDXJ), the Market Vectors Russia ETF (NYSE: RSX) and the Market Vectors Brazil Small-Cap ETF (NYSE: BRF). Van Eck currently has 33 ETFs listed in the U.S. and $23 billion in assets under management. The firm is the sixth-largest U.S. ETF issuer.