SOCL has also benefited from its China exposure. The world’s largest Internet market, one with more Internet users than there people in the U.S., accounts for nearly 26% of the ETF’s weight. That is a nice trait at time when Chinese Internet stocks, as measured by the KraneShares CSI China Internet Fund (NasdaqGM: KWEB) are soaring in anticipation of the Alibaba initial public offering, among other catalysts. [China Internet ETF Tops $100M in AUM]

However, there remains the issue of valuation and that may be keeping some investors away from SOCL. SOCL sports a P/E ratio of nearly 23.6 and a price-to-book ratio of 3.18. The PowerShares QQQ (NasdaqGM: QQQ), the NASDAQ-100 tracking ETF, trades with a P/E of 20.3.

Global X Social Media Index ETF



Tom Lydon’s clients own shares of QQQ and Facebook.