May 22, 2008 at 6:00 am by Tom Lydon
Exchange traded fund (ETF) provider State Street Global Advisors delivered the first cap-weighted, small-cap emerging markets ETF last week.
The SPDR S&P Emerging Markets Small Cap (EWX) tracks an index of 1,660 holdings, reports Heather Bell for Index Universe. Of the 25 countries in the fund, Taiwan makes up the largest portion with 31.9% of the holdings. China is 7.8%, India is 6.5%, South Africa is 6.5% and Brazil is 6%.
WisdomTree has the WisdomTree Emerging Markets Small Cap Dividend Fund (DGS), however, it’s dividend-weighted. Taiwan is the largest country represented in that fund, as well.
There are other international small-cap ETFs, which focus primarily on developed markets:
- iShares FTSE Developed Small Cap ex-North America (IFSM), down 1.1% year-to-date
- SPDR S&P International Small Cap (GWX), down 2.2% year-to-date
- iShares MSCI EAFE Small Cap Index (SCZ), down 4.6% year-to-date
Tags: Asia, Brazil, China, Emerging Markets, India, Large-Cap, Latin America, Small-Cap, South Africa, Taiwan
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