Van Eck Launches Rare Earth/Strategic Metals ETF

Van Eck Global launched an exchange-traded fund (ETF) which seeks to give investors exposure to the equities of companies primarily engaged in the producing, refining, and recycling of rare earth/precious metals.

The Market Vectors Rare Earth/Strategic Metals ETF (REMX) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Rare Earth/Strategic Metals Index (MVREMXTR). To be included in the Index, a company must have the capacity to generate more than 50% of its revenue from rare earth/strategic metals-focused efforts.  

As of October 13, 2010, the Index included 24 constituents from eight countries.  

REMX carries a gross expense ratio of 0.63% and a net expense ratio of 0.57%.