Two India-focused exchange traded funds (ETFs) have been locked in a fierce race to the starting line, and one of them finally reached it today.
The WisdomTree India Earnings Fund (EPI) began trading on the NYSE Arca this morning, trading a million shares straight out of the gate. On Monday or Tuesday, PowerShares will follow up with its own India ETF: the PowerShares India Portfolio (PIN).
There’s huge demand for an India ETF. For a time, there was the iPath MSCI India Index (INP) investors could use to get exposure. Once India changed up its foreign investing rules, the ETN was pretty much down for the count as no new shares were being issued.
While the two ETFs they might have one country in common, their underlying indexes are constructed very differently.