New issues of exchange traded funds (ETFs) did not slow down with the markets.  Van Eck and Global X launched new funds today covering Colombia, oil and gold miners.

Market Vectors Colombia ETF (NYSEArca: COLX) is designed for investors wanting direct exposure to the equities market in this country. Financial services make up 33% of the ETF, followed by energy at 30% and materials at 17%.

According to ETF Daily News, the index will represent the overall performance of companies either domiciled and primarily listed on an exchange in Colombia or generating at least 50% of their revenues in Colombia. Constituent stocks of the index must have a market capitalization of greater than $150 million to be added. Stocks whose market capitalization fall below $75 million will be deleted.

Columbia is the second largest South American country and has a rapidly expanding economy. As cross-border and cross-exchange co-operations continue to develop, the momentum should only pick up for Columbia.  The country has natural resources including petroleum, coffee, coal and gold.

Global X Funds recently exceeded $1.56 billion in assets with 23 ETFs in global commodities and markets.  Their latest funds include the Global X Oil Equities ETF (NYSEArca: XOIL) and Global X Pure Gold Miners ETF (NYSEArca: GGGG). [Comparing the International Oil ETF Plays.]

XOIL is based on an equal weighted index of global companies that have shown a high correlation to the spot price of oil. This fund focuses on spot prices and equities, not futures contracts.

GGGG tracks the largest gold mining companies on a global level. Companies that derive most of their revenue from gold mining and extracting are represented in the Solactive Global Pure Gold Miners Index. Unlike other miners, this fund does not represent any exploration companies. [Alternative Ways To Play Gold With ETFs.]

Tisha Guerrero contributed to this article.

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.