One exchange traded fund (ETF) provider is setting its sights on a brand-new benchmark, the Delta Global Shipping Index (DGAGSI).

This index has been licensed to Claymore Advisors, who plans on launching a corresponding global shipping ETF. The index launched last week and is made up of 30 maritime shipping stocks, reports Index Universe. The components are considered for inclusion if they’re generating 80% of their revenues from the operating and/or leasing of seaborne ships that transport dry bulk, tanker, container, specialty chemical or liquid natural gas goods.

Eligible companies must also be listed on a major stock exchange.

Chip Hanlon, CEO of Delta Global Indices, told us the shipping sector gives people direct exposure to global economic growth. “Two-thirds of the world’s goods are moved by sea.”

The index contains three types of ships: tankers, which transport things like crude oil; dry bulk carriers, which move steel, grains and other raw materials; and container ships, which move 20-foot boxes of finished goods.

The index was first published last month, Hanlon says, but has a full five years of backtested data. Based on the data, ending July 31, $10,000 would have grown to $49,000 vs. the MSCI World Index, which would have grown to $17k.

However, the index can be sensitive. “It’s a group of companies very sensitive to global economic growth trends,” says Hanlon. “When the market is concerned about a recession, they can be volatile on the downside.”