Pakistan, the sixth-most populous country in the world, “has been identified by Goldman Sachs as one of the potentially large, fast growing markets that are expected be an important source of global economic growth and opportunity in the future,” according to Global X.
Frontier markets historically have low correlations to developed and emerging markets equities. PAK has the potential to continue that theme as Pakistani equities had a correlation of zero to the S&P 500 last year, according to Global X.
PAK is the fourth single-country frontier markets ETF to come to market. The others are the Mar, ket Vectors Vietnam ETF (NYSEArca: VNM), Global X MSCI Argentina ETF (NYSEArca: ARGT) and the Global X Nigeria Index ETF (NYSEArca: NGE).
PAK Top 10 Holdings and Sector Weights