Claymore Securities has teamed up with The Bank of New York Mellon to debut the first U.S.-listed ETF to track frontier markets. Business Wire defines a "frontier market as a market of a country that is less developed than a traditional emerging market. The new fund, known as Claymore/BNY Mellon Frontier Markets ETF (FRN) is designed to track up to 41 countries considered to be within the frontier classification, such as Kenya, Morocco, Nigeria, Croatia, or Poland. Christian Magoon, President of Claymore, believes the intriguing aspect for investors of frontier markets is their growth opportunity, as they are currently in the early stages of their development and are considered the "next generation of emerging markets. FRN will link to The BNY Mellon New Frontier DR Index, which Business Wire reports is made up of companies with a minimum market capitalization of $100 million. Bank of New York Mellon, managing director Michael Finck provided his perspective with the statement, "U.S. investors have had little exposure to these smaller, less-developed markets, which are excluded from most benchmarks and overshadowed by the popular emerging markets.

Though Japans ETF had been downward trending for nearly two years, the fund has experienced a reversal and has shown strength since March. The recent upward momentum has taken iShares MSCI Japan Index ETF (EWJ) to a five-month high, which is an 18% recovery from its 52-week low of 11.53, according to Trang Ho of Investors Business Daily. As EWJ is only 7% away from its annual high, noteworthy is the fact that the fund had enough force to push through the 200-day moving average, a major long-term level of resistance.