Northern Trust is adding to their lineup despite the market tumult, with a new member for their NETS exchange traded fund (ETF) family. NYSE Euronext has listed the NETS FTSE CNBC Global 300 Index Fund (MYG), and it is the 17th ETF from the provider.

NETS first entered the ETF arena earlier this year with a line of funds that track the major indexes of their respective countries.

MYG seeks to  provide investment results that correspond generally to the price and yield performance of publicly traded securities in the aggregate in the global market, as represented by the FTSE-CNBC Global 300 Index.

The FTSE index is made up of 300 companies from around the world.

Steve Schoenfeld, chief investment officer at Northern Trust, made the case that the world is eventually going to improve and investors may want to bet on it.

Allan Wastler for comments that these indexes are business products, so money is made for creating them, putting your name on them and of course, for using them. This ETF launch is a nod to the partnership between Northern Trust and the most important companies within the global financial world.

According to the fund’s fact sheet, the index is made up of the largest 15 stocks by full market capitalization from each of the 18 Industry Classification Benchmark Supersectors and the 30 largest stocks from emerging markets.

Consumer goods is the top sector in the fund, with 15.5% of the holdings. Financials follow, with 15.4%; oil and gas are 14.5% and technology is 10.9%. The expense ratio is 0.43%. The fund’s page on CNBC will give daily holdings information.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.