ETF Spotlight on Global X/Interbolsa Colombia 20 (NYSEARCA:GXG), part of a weekly series.
Assets: $52.2 million
Objective: Seeks to track the FTSE Colombia 20 Index, before fees and expenses.
What You Should Know
- The largest sector in the fund is oil and gas, with 28.9% of the weighting; use caution if you’re holding other allocations to oil companies or futures.
- Other heavy sectors include banks, 25%; financial services, 16.5%; and industrials, 9.9%.
- It has an expense ratio of 0.86%.
- It launched on Feb. 5, 2009; since then, it’s up 165.6%.
- Year-to-date, it’s up 39.7%, making it one of the stronger emerging market funds this year.
The Latest News
- Colombia’s economy is dependent on natural resource exports, with fast growing financial and manufacturing sectors.
- Colombia is South America’s third-largest oil producer and largest coal producer
- On the down side, the country is rife with guerrilla fighting and internal risks, but that has not deterred investors, writes Nancy Lopez for The Associated Press.
- The government is projecting a 4.5% GDP increase this year, backed by foreign direct investment.