Capitalizing upon the current popularity of emerging ETFs, Emerging Global Advisors has launched its second exchange-traded fund of 2009. The new fund, named Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund (EEG: Quote, Profile, Advanced Chart, News), seeks to track the Dow Jones Titan Index, but with several amendments to the original index.

According to a press release, the fund is weighted by country as follows:

China Offshore: 20.43%
Brazil: 20.29%
India: 18.15%
Russia: 14.24%
Mexico: 10.07%
South Africa: 8.30%
Chile: 2.74%
Malaysia: 1.85%
Indonesia: 1.53%
Kuwait: 1.04%

The new ETF will invest in 100 of the top stocks of the Dow Jones Emerging Market Titan Index. To protect against bubble investments, the fund will ensure that no sector has more than 10% of the vested interest of the fund. The fund is just one of 10 sector-based ETFs Emerging Global Advisors plans to launch in the near future.

The Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund will trade on the NYSE Arca with an annual expense of .75%.

The Middle Eastern markets continue to grow in popularity among international investors and Kuwait will now be accessible via a new ETF to capture the country’s performance. The new ETF, known as the Lyxor FTSE Coast Kuwait ETF (LKUU), will be trading on the London Stock Exchange and track the FTSE Coast Kuwait 40 Index. According to Jennifer Lowe of What Investment, the FTSE Coast Kuwait 40 Index will provide investors access to the top 40 companies on the Kuwait Stock Exchange with regard to market capitalization. In a quote from the head of the ETF division at the London Stock Exchange, Pietro Poletto stated, “This launch is great news for investors as it provides them with the opportunity to access Kuwait’s fast growing banking, telecom and UT sectors while benefiting from the low-cost, instant diversification offered by ETFs.”

The newly introduced Dow Jones GCC Titans 40 Index now has a Van Eck ETF to track its performance. The ETF, known as Market Vectors-Gulf States Index ETF (MES), is designed to follow the Gulf Cooperation Council member states, according to Business Wire. MES is set to trade on the NYSE Arca exchange and is made up of 40 components that trade in five out of the six GCC member states of Bahrain, Kuwait, Oman, Qatar and United Arab Emirates (UAE). In a recent Market Watch article Jan van Eck, head of Van Eck Global, talks of the popularity of this region by saying, “The Gulf region is one of the world’s fastest growing and most sought after markets. The countries are seeking to diversify away from energy and to develop their financial markets.” To be eligible for the index, stocks must have at least $1 million of average daily trading volume. In an effort to maintain diversity, Market Watch points out that the weight of any stock is capped at 8% and there is a limit of 15 companies per country.

Investors now have a vehicle to track the performance of the Middle East region. WisdomTree has just debuted its newest ETF on the Nasdaq Stock Market, known as WisdomTree Middle East Dividend Fund (GULF). Business Wire reports that GULF will provide exposure to about 70 dividend-paying companies located in Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar and the United Arab Emirates. President of WisdomTree, Bruce Lavine, discusses his view of the new fund in the following Business Wire quote, "The growing economies of the Middle East region, while driven by increasing revenues from oil exports, are becoming more diversified. We estimate that equities trading in the Middle East region now make up nearly 2% of the world’s total market capitalization. Further, the equity returns in the Middle East have historically demonstrated a low correlation to the U.S., developed, and even Emerging Markets, and may be a source of portfolio diversification.”

The Dow Jones GCC Titans 40 Index has now been introduced, and Van Eck Global will issue the first ETF to follow the Gulf Cooperation Council member states. Market Watch reports that the new index is made up of 40 components that trade in five out of the six GCC member states of Bahrain, Kuwait, Oman, Qatar and United Arab Emirates (UAE). Jan van Eck, head of Van Eck Global, talks of the popularity of this region by saying, "The Gulf region is one of the world’s fastest growing and most sought after markets. The countries are seeking to diversify away from energy and to develop their financial markets.” To be eligible for the index, stocks must have at least $1 million of average daily trading volume. In an effort to maintain diversity, Market Watch points out that the weight of any stock is capped at 8% and there is a limit of 15 companies per country.