IPO, on the other hand, can add new companies as fast as the fifth day of trading, or upon quarterly review. Components are then removed after two years when the IPOs are considered seasoned stocks.

However, it should be noted that there is no guarantee the two IPO-related ETFs may pick up Albertsons.

Additionally, looking further out, Albertsons could end up in consumer staples sector-related ETFs as it competes with Krogers. For instance, the KR is the largest holding of PowerShares Dynamic Food & Beverage Portfolio (NYSEArca: PBJ) at 5.2% and the third largest component of PowerShares Dynamic Retail Portfolio (NYSEArca: PMR) at 5.4%.

For more information on the consumer sector, visit our consumer staples category.

Max Chen contributed to this article.