State Street begins the regulatory process of bringing what could be the SPDR MSCI Beyond BRIC ETF to market.
"Beyond BRIC" investing is growing as a theme for emerging markets as investing in the BRICs has been a road to the poorhouse over the past few years.
The Emerging Global Beyond BRICs ETF (BBRC) launched about a year ago and has had a tough time garnering assets. It's changing its approach to begin including frontier market holdings.
Vanguard's (VWO), iShares' (EEM) and WisdomTree's (DEM) are the biggest players in emerging market ETFs, but BRICs weigh heavily - 42% of holdings in EEM (China along accounts for 19%).
Other BRIC ETFs: FNI, EEB, BKF, BIK, BBRC, EMDD, BICK.