The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors India Small-Cap Index. The fund invests substantially all of its assets in the Subsidiary, a wholly-owned subsidiary located in the Republic of Mauritius. The Subsidiary in turn will normally invest at least 80% of its total assets in securities that comprise the fund's benchmark index and depositary receipts based on the securities in the fund's benchmark index. The index is currently comprised of small-capitalization companies selected on the basis of their relative market capitalizations in India. It is non-diversified.