Global X Launches Canada ETF With A Twist

Global X, the New York-based ETF issuer that has already introduced two new ETFs this week, is adding a third ETF to that party with the debut of the Global X S&P/TSX Venture 30 Canada ETF TSXV, the first ETF to focus on emerging companies listed on the TSX Venture Exchange.

The Global X S&P/TSX Venture 30 Canada ETF tracks the S&P/TSX Venture 30 Index, which seeks to measure the performance of 30 of the largest and most liquid securities listed on the TSX Venture Exchange. As of March 14, 2011, the three largest components of the index were Atac Resources Ltd, Canacol Energy Ltd, and Rainy River Resources Ltd., according to Global X.

TSXV may be seen as a rival to the IQ Canada Small-CAP ETF CNDA, which is issued by IndexIQ. CNDA was the first Canada-specific small-cap ETF and has accumulated more than $100 million in assets under management.

Global X has over $1.5 billion AUM and has introduced nine new ETFs in 2011.