Celebrate Cinco de Mayo With This New ETF

Global X, the New York-based ETF issuer with over $1.8 billion in assets under management, is providing investors with a way to truly celebrate Cinco de Mayo with the introduction of its thirtieth ETF, the Global X Mexico Small-Cap ETF

. MEXS is the first small-cap play on Mexico, Latin America's second-largest economy. The ETF will track the Solactive Mexcio Small-Cap Index with an expense ratio of 0.69%. Holding 28 stocks, MEXS devotes more than 29% of its sector allocation to consumer discretionary names while industrials get a weight of nearly 23%. Consumers staples and financials combine for over 31% of the ETF's weight. The top three holdings in the new ETF are Megacable Holdings, Grupo Comercial Chedraui SA and Grupo Continetal SAB. The top-10 holdings in MEXS account for 49.25% of the ETF's total weight. In the fourth quarter of 2010, Mexico's 4.6% economic growth rate was driven almost entirely by domestic demand. These consumers have a per-capita income twice as large as Brazil's, which translates into greater purchasing power and a strong domestic services sector, Global X said in a statement, citing a Morgan Stanley report that was originally covered by Reuters. “MEXS provides an efficient way to play Mexico's domestic growth story. Improvement in Mexico's terms of trade with the US, its largest trading partner, has helped to increase investment in domestic industries,” Global X CEO Bruno del Ama said in the statement. MEXS represents the third ETF Global X has introduced this week. The firm rolled out the Global X Fishing Industry ETF

on Wednesday and the Global X Food ETF

on Tuesday. Global X has launched more than a dozen new ETFs in 2011, making the firm one of the most prolific issuers of new ETFs this year.