Van Eck launched the anticipated Africa focused exchange traded fund (ETF), launched on the NYSE Arca.

Market Vectors Africa Index (AFK) allows investors easy, one-stop access to the ever-growing, untapped market in Africa. The ETF tracks the Dow Jones Africa Titans 50 Index, a pan-African index. The expense ratio is 0.83%.

Nigeria is the top-weighted country, with 25.2% of the holdings. South Africa is the second-largest at 24.7%, followed by Egypt at 13.1% and Morocco at 11.4%. Banks are the top sector, at 33.7%. Basic resources follow at 18.2%; oil and gas at 13.5% and telecommunications at 10.2%.

There are other funds that have launched containing African exposure, particularly in the emerging and frontier markets area, but this is the most pure to date in an ETF.

• Claymore/BNY Mellon Frontier Markets (FRN)
• Powershares MENA Frontier Countries Portfolio (PMNA)
• iShares MSCI South Africa Index (EZA)

Many are anticipating Africa to be turning a corner because of debt reduction, strong commodity prices and increased quality of economic management.

Tags: AFK, Africa, Commodity ETFs, Corn, Egypt, Emerging Markets, Energy, EZA, Financial, FRN, Frontier Markets, Middle East, Oil, PMNA, Sector ETFs, Telecommunications