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ETF Specialist

Global X Launches Value and Growth Emerging-Markets ETFs

These style-based emerging-markets ETFs are the first of their kind.

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On Jan. 25, Global X launched two emerging-markets exchange-traded funds, offering investors the first-ever style-based emerging-markets ETFs: Global X Emerging Markets Value ETF (EMVX) and Global X Emerging Markets Growth ETF (EMGX).

EMVX will track the Russell Emerging Markets Mega Cap Value Index, which includes about 80 mega-cap growth companies with lower price/book ratios and lower expected growth values. By far, the biggest industry weighting in the index is energy, which makes up a whopping 45%-plus of the fund's assets. After that are utilities (17%-plus of assets), materials & processing (11%), financial services (11%), and technology (7%). The largest constituents include Brazilian energy company  Petrobras (PBR) (11%), Russian natural gas extractor Gazprom (9%), South Korean conglomerate Samsung (6%), Russian oil and gas company Surgutneftegaz (6%), and Chinese telecom  China Mobile (CHL) (5%). Top country weightings are Russia (27% of assets), South Korea (25%), Brazil (20%), China (16%), and Taiwan (7%). Note that those five countries together make up a whopping 95% of the fund's assets.

Robert Goldsborough does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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