To be precise, IPW entered trading today with a 4.21% weight to BG, making the stock the ETF’s seventh-largest holding.
Additionally, IPW is a pure international ETF, meaning it holds no U.S.-based companies so the fund is not being hampered by speculation that Exxon will need to respond to Shell with a sizable acquisition of its own. [Old Oil Takeover Rumor Could Lift This ETF]
IPW and IXC are down an average of 1.2% this year.
SPDR S&P International Energy Sector ETF