Investors now have an exchange traded fund (ETF) to gain access to an array of global small-cap oil companies. The new ETF from Index IQ is the IQ Global Oil Small Cap ETF (NYSEArca: IOIL), which will give investors one-trade exposure global oil stocks in the small-cap arena.

Companies involved in areas such as exploration and drilling, refining and marketing and equipment services and drilling are included. The ETF is also a compliment to large-cap oil, gas and energy funds within a portfolio. [Gasoline ETF Rises As Prices Near $4 a Gallon.]

Oil prices have been rising on Middle East unrest and a weaker U.S. dollar. [Are Oil ETFs A Good Investment?]

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.