The index includes holdings from 10 countries. The top five countries are: "geographic China (39.71 percent), Brazil (22.88 percent), India (13.21 percent), South Africa (9.25 percent), and Malaysia (3.96 percent)"--as of Sept.11, according to a release from Emerging Global Advisors, LLC.
The new ETF trades on NYSE Arca as EFN, and is called Dow Jones Emerging Markets Financial Titans Index Fund. Emerging Global Advisors' CEO Robert Holderith said in the announcement, "Financial Services is an increasingly important component of the emerging markets success story." He added, "The companies in this sector, through their ability to provide liquidity, will play an increasingly vital role in driving domestic growth within these economies. Our new ETF will provide the only sector-based exposure to this industry."
Comments? Please send them to firstname.lastname@example.org. Kate McBride is editor in chief of Wealth Manager and a member of The Committee for the Fiduciary Standard.