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Market Vectors Etf Trust MARKET VECTORS ETF TRUST STATEMENT OF ADDITIONAL INFORMATION Dated November 10, 2014 This Statement of Additional Information (―SAI‖) is not a prospectus. It should be read in conjunction with the Prospectus dated November 10, 2014 (the ―Prospectus‖) for the Market Vectors ETF Trust (the ―Trust‖), relating to the series of the Trust listed below, as it may be revised from time to time. Fund Principal U.S. Listing Exchange Ticker Market Vectors ChinaAMC China Bond ETF NYSE Arca, Inc. CBON A copy of the Prospectus may be obtained without charge by writing to the Trust or the Distributor. The Trust’s address is 335 Madison Avenue, 19th Floor, New York, New York 10017. Capitalized terms used herein that are not defined have the same meaning as in the Prospectus, unless otherwise noted. TABLE OF CONTENTS Page GENERAL DESCRIPTION OF THE TRUST ........................................................................................... 1 INVESTMENT POLICIES AND RESTRICTIONS ................................................................................... 2 Repurchase Agreements .................................................................................................................. 2 Futures Contracts and Options ........................................................................................................ 2 Swaps ........................................................................................................................................... 4 Warrants and Subscription Rights .................................................................................................. 5 Currency Forwards.......................................................................................................................... 6 Convertible Securities ..................................................................................................................... 6 Structured Notes ............................................................................................................................. 6 Participation Notes .......................................................................................................................... 6 Future Developments ...................................................................................................................... 7 Investment Restrictions ................................................................................................................... 7 SPECIAL CONSIDERATIONS AND RISKS .......................................................................................... 10 General ......................................................................................................................................... 10 RQFII Program Risk ..................................................................................................................... 11 U.S. Federal Tax Treatment of Futures Contracts ........................................................................ 12 EXCHANGE LISTING AND TRADING ................................................................................................ 13 BOARD OF TRUSTEES OF THE TRUST .............................................................................................. 14 Trustees and Officers of the Trust................................................................................................. 14 Independent Trustees .................................................................................................................... 15 Interested Trustee .......................................................................................................................... 16 Officer Information ....................................................................................................................... 17 Remuneration of Trustees ............................................................................................................. 21 PORTFOLIO HOLDINGS DISCLOSURE ............................................................................................... 22 QUARTERLY PORTFOLIO SCHEDULE ............................................................................................... 22 CODE OF ETHICS .................................................................................................................................... 22 PROXY VOTING POLICIES AND PROCEDURES ............................................................................... 22 MANAGEMENT ....................................................................................................................................... 24 Investment Adviser and Sub-Adviser ........................................................................................... 24 The Administrator ......................................................................................................................... 25 Custodian and Transfer Agent ...................................................................................................... 25 The Distributor .............................................................................................................................. 25 Other Accounts Managed by the Portfolio Managers ................................................................... 26 Portfolio Manager Compensation ................................................................................................. 27 Portfolio Manager Share Ownership............................................................................................. 28 BROKERAGE TRANSACTIONS ............................................................................................................ 29 BOOK ENTRY ONLY SYSTEM ............................................................................................................. 30 CREATION AND REDEMPTION OF CREATION UNITS ................................................................... 32 General ......................................................................................................................................... 32 Fund Deposit ................................................................................................................................. 32 Procedures for Creation of Creation Units .................................................................................... 33 Placement of Creation Orders Using Clearing Process................................................................. 35 Placement of Creation Orders Outside Clearing Process—Domestic Funds ................................ 35 Placement of Creation Orders Outside Clearing Process—Foreign Funds .................................. 36 Acceptance of Creation Orders ..................................................................................................... 36 Creation Transaction Fee .............................................................................................................. 37 Redemption of Creation Units ...................................................................................................... 37 Redemption Transaction Fee ........................................................................................................ 38 Placement of Redemption Orders Using Clearing Process ........................................................... 38 Placement of Redemption Orders Outside Clearing Process—Domestic Funds .......................... 39 Placement of Redemption Orders Outside Clearing Process—Foreign Funds ............................. 39 DETERMINATION OF NET ASSET VALUE ........................................................................................ 42 DIVIDENDS AND DISTRIBUTIONS ..................................................................................................... 43 General Policies ............................................................................................................................ 43 DIVIDEND REINVESTMENT SERVICE ............................................................................................... 43 CONTROL PERSONS AND PRINCIPAL SHAREHOLDERS .............................................................. 43 TAXES ...................................................................................................................................................... 44 Reportable Transactions................................................................................................................ 48 PRC Taxation ................................................................................................................................ 48 CAPITAL STOCK AND SHAREHOLDER REPORTS .......................................................................... 49 COUNSEL AND INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ............................ 50 LICENSE AGREEMENT AND DISCLAIMERS .................................................................................... 51 APPENDIX A VAN ECK GLOBAL PROXY VOTING POLICIES ....................................................... 52 GENERAL DESCRIPTION OF THE TRUST The Trust is an open-end management investment company. The Trust currently consists of 60 investment portfolios. This SAI relates to one investment portfolio, Market Vectors ChinaAMC China Bond ETF (the ―Fund‖). The Fund is classified as a non-diversified management investment company under the Investment Company Act of 1940, as amended (―1940 Act‖) and, as a result, is not required to meet certain diversification requirements under the 1940
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