Global X, a fund provider known for its alternative and niche exchange traded fund products, recently launched the first social media-based ETF.

Global X Social Media Index ETF (NasdaqGM: SOCL) tries to reflect the performance of the Solactive Social Media Index, which tracks companies engaged in the social media industry, including companies involved in social networking, file sharing and other web-based media applications. The fund has an expense ratio of 0.65%. [Social Media Valuations Running High; New ETF in the Works]

The fund’s top holdings include Tencent Holdings Inc., Sina Corp (NasdaqGS: SINA), Dena Co., (NasdaqGS: NTES) and Gree Inc. As a result of the indexing methodology, companies that show a significant presence in the social media space but aren’t fully vested in the industry will have a limited weighting in the index.

Country allocations include China 36.92%, U.S. 26.31%, Japan 19.47%, Russia 9.50%, Germany 2.20%, India 1.95%, Taiwan 1.77%, Italy 1.03% and U.K. 0.73%.

According to a Pew Research Center survey, the number of adult users who use social networking sites has doubled in 2011 from 2008, augmented by mobile phone usage.