Earlier this week, it was reported that Van Eck’s Market Vectors unit could bring the first dedicated oil refiners exchange traded fund to market. has filed plans for the Market Vectors Oil Refiners ETF, which would track the Market Vectors Global Oil Refiners Index (MVCRAK), according to a filing with the Securities and Exchange Commission.

According to the filing, the ticker for the Market Vectors Oil Refiners ETF will be “CRAK.” Although the Market Vectors Oil Refiners ETF may not be launching soon, Market Vectors is providing a look at the Market Vectors Global Oil Refiners Index, which will give investors a sense of what the new ETF will look like when it debuts. [Maybe a Refiners ETF]

MVCRAK is a pure play index that includes companies that generate at least half their revenue from oil refining, which also includes refining of diesel, jet fuel and other petroleum products, according to Market Vectors. Index requirements include “three-month average-daily-trading volume of at least 1 mln USD at a review and also at the previous two reviews and at least 250,000 shares traded per month over the last six months at a review and also at the previous two reviews.”

U.S. stocks dominate the index with a weight of over 39% while South Korea and Japan combine for another 23.7%. The index is currently home to 26 stocks, none of which account for more than 7.85% of its weight.

Phillips 66 (NYSE: PSX), Valero Energy (NYSE: VLO) and Marathon Petroleum are MVCRAK’s top three components, combining for about 22% of the index’s weight. Low oil prices have boosted margins for refiners this year, helping ETFs that have above-average exposure to the sector outperform.