The Market Vectors®Retail ETF (RTH) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors US Listed Retail 25 Index (MVRTHTR). The Index is a rules-based index intended to track the overall performance of 25 of the largest U.S. listed, publicly traded retail companies.
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After record vacancy rates, retailers are hungry for expansion again, but space is at a premium in many prime locations. "We wait for other retailers to die and hope that we can take their space," says NRDC Equity Partners CEO Richard Baker. (ETFs: RTH, XRT)
With the Retail HOLDRS ETF (RTH) surging back through its pre-recesssion highs, PragCap is worried things may be getting just a bit ahead of themselves - considering stores' operating income remains significantly below 2007 levels. "This price action is acting as if the consumer is (or will become) whole again - which I believe is undeniably false."