Van Eck Associates Corporation is lowering the expense cap for its Market Vectors Indonesia Index ETF (IDX) from 60 basis points (bps) to 57 bps. This marks the second time in IDX's more than three-year history that its expense cap has been lowered.

IDX seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Indonesia Index (MVIDXTR), a rules-based, modified market capitalization-weighted, float-adjusted index intended to give investors exposure to Indonesia. As of March 31, the fund had approximately USD537 million in assets under management.

"We are committed to building and maintaining a family of ETFs focused on providing investors with access to opportunities in emerging markets, hard assets, fixed income and more. Wherever possible, we look to reduce fees and expenses and pass those savings along to our investors," says Adam Phillips (pictured), Chief Operating Officer of Market Vectors ETFs. "We're pleased to lower IDX's expense cap for the second time, and IDX currently has the lowest net expense ratio among the Indonesia-focused ETFs in the marketplace."

IDX was the first US-listed ETF to focus on Indonesian equities at the time of its launch and currently holds Morningstar 5-star ratings in both the 3-year and overall categories.+ The Fund was recently joined in the Market Vectors suite by another first-of-its-kind offering, Market Vectors Indonesia Small-Cap ETF (IDXJ), which launched in March 2012 and seeks to track an index that focuses exclusively on equities of small-cap companies that are domiciled and primarily listed in Indonesia or that generate the majority of their revenues in Indonesia. Together, IDX and IDXJ provide full coverage of the Indonesian equity market cap spectrum.

"Indonesia's growth over the past several years has been impressive, and we believe the outlook remains bright, driven in part by rising domestic consumption and higher levels of disposable income," says Ed Lopez, Marketing Director at Market Vectors ETFs. "By lowering the expense cap of IDX, we have made investing in the compelling Indonesian growth story even more affordable for our investors."