Although IXP is framed as an international play, it does not exclude U.S. stocks as the world’s largest economy is IXP’s largest country weight at 28.3%. Dow components AT&T (NYSE: T) and Verizon (NYSE: VZ) are IXP’s second- and third-largest country weights, respectively, combining for 24.1% of the ETF’s weight.

Aside from a combined 7.6% weight to China and Mexico, IXP is focused on developed markets and the kicker is an almost 15% weight to U.K.-based Vodafone (NYSE: VOD), a company widely rumored to be the next mega telecom takeover target.

iShares Global Telecomm ETF

ETF Trends editorial team contributed to this post.