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Just in time for the resurgence in emerging markets, the exchange traded fund [ETF] community will be welcoming another member as Global X is planning to release the first ETF targeting the economy of Peru.

The new Peruvian ETF will start trading on the New York Stock Exchange by mid-June, reports Veronica Navarro Espinosa for Bloomberg. In addition to giving investors the chance to access Peru’s market, and down the road, the option to short Peru will be available.

Peru’s economy actually grew 9.8% last year, and 4% growth is expected this year, according to Joseph A. Mann Jr. at The Miami Herald. If Peru achieves this target, it may outstrip the growth of all other nations in Latin America.

The new ETF will seek to reflect the FTSE Peru 20, which includes commodity producers such as Maple Energy PLc., an oil and natural gas producer; Austral Group SA, the largest country’s largest fishmeal producer; and Cia. de Minas Buenaventura SA, the biggest precious metals producer.

iShares is also working on introducing its own version of the Peruvian ETF (NYSEARCA:EPU), and it’s been a race to the finish line.

Peru’s Lima General Index climbed 95% this year as speculation on commodity prices will continue to fuel global growth. Among 92 world benchmarks tracked by Bloomberg, the Lima General Index advanced the most.

The Lima index includes 36 stocks, 21 of which are resource companies. Peru is the world’s third largest producer of copper, zinc and tin. The country is also the fifth biggest miner of gold and the biggest miner of silver.