Want More Tech ETFs? Global X Has Your Back

There are over 50 ETFs devoted to the technology sector listed in the U.S. and Global X, the New York-based ETF issuer known for its unique commodities and emerging markets funds, added to that total today with the debut of two new ETFs: The Global X NASDAQ 500 ETF

QQQV

and the Global X NASDAQ 400 Mid Cap ETF

QQQM

. Each with expense ratios of 0.48%, the two ETFs are the first two track new benchmark indexes on The NASDAQ Stock Market. The Global X NASDAQ 500 ETF tracks the NASDAQ 500 Index, which excludes financials and allows investors to get a large sampling of Nasdaq listings beyond the Nasdaq 100. Technology, consumer discretionary and healthcare names combine for over 90% of the ETF's weight. QQQV's top-five holdings are Apple

AAPL

, Microsoft

MSFT

, Oracle

ORCL

, Google

ORCL

and Intel

INTC

. Qualcomm

QCOM

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and Amazon

AMZN

are found among the top-10 holdings in the 500-stock ETF. Th Global X NASDAQ 400 Mid Cap ETF is a bit more diverse at the sector level with four sectors – technology, healthcare, consumer discretionary and industrials – receiving double-digit allocations. QQQM tracks the Nasdaq 400 Mid-Cap Index. With a weight of less than 1.5%, biotech firm Pharmasset

VRUS

is QQQM's top holding. Perrigo

PRGO

, Hansen Natural

HANS

, Avago Technologies

AVGO

and Nuance Communications

NUAN

round out QQQM's top-five holdings. “We are pleased to be pairing with NASDAQ OMX, a recognized leader in the development of innovative indices, to bring these products to market,” said Bruno del Ama, CEO of Global X Funds, in a statement. “Both new funds expand the coverage beyond the NASDAQ 100 Index®, providing greater diversification and possibly capturing the next Apple or Google.” Global X has also filed plans for the Global X Nasdaq 100 Global Technology Index ETF

QQQT

, which when it comes to market, looks to be a direct competitor to the PowerShares QQQ

QQQ

. QQQT is also expected to have an expense ratio of 0.48%. With the debut of the two new funds today, Global X now has 38 ETFs trading, more than half of which have come to market in 2011 making the firm one of the most prolific in terms of new fund introductions.