If you’ve been disappointed by Wal-Mart’s (WMT) lagging stock price but you still long to get in, there’s a solution at hand in the form of an exchange traded fund (ETF). FocusShares ISE-REVERE Wal-Mart Supplier Index Fund (WSI) is a fund that allows investors to track the stock of Wal-Mart’s suppliers. WSI launched today on NYSE Arca.

The product has been in back-testing for three years, and finally begins trading today. In the tests, the ETF has "significantly outperformed" Wal-Mart’s stock and has instead correlated more closely with the superstore’s sales.

The fund was assembled through a "rigorous screening process" of all public companies that cite Wal-Mart as a customer. Those companies then were evaluated further until they were winnowed down to a basket of 30 stocks. Some of the stocks include Del Monte Foods (DLM), Hanesbrands (HBI), Kellogg (K) and Mattel (MAT).

Tags: Retail