Van Eck Global introduced the first exchange-traded fund that invests exclusively in emerging-market debt denominated in the local currency. The Market Vectors Emerging Markets Local Currency Bond ETF buys debt included in the JPMorgan Government Bond Index-Emerging Markets Global Core Index, which focuses on local-currency bonds from 13 emerging markets in Africa, Asia, Eastern Europe and Latin America. The ETF has a 0.49% expense ratio and trades on NYSE Arca.

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