Emerging market investors appear to be receiving a new ETF by Exchange Traded Concept Trust. The new fund will provide exposure to India’s internet and e-commerce sector, a first for the ETF market.
The India Internet & Ecommerce (INQQ) ETF has been filed with the United States Securities and Exchange Commission and aims to provide individuals with access to a universe of Indian stocks that are considered leaders in the internet and e-commerce.
The passively managed fund plans to track the INQQ India Internet & Ecommerce Index and aims to provide access to stocks involved in the internet services space, as well as internet retail, internet media, online advertising, online travel, online games, search engines and social networks. network space.
According to the prospectus, INQQ intends to trade on the New York Stock Exchange and expects to have an expense ratio of 0.86%. Additionally, the index tracked by INQQ intends to rebalance on a semi-annual basis.
INQQ is coming to market at a time when India’s overall internet economy is expected to reach $1 billion by 2030, according to a report by RedSeer.
INQQ will be the first ETF to focus solely on the internet and e-commerce space, but can still compete with other funds that provide exposure to companies in India, such as: (BATS:INDA), (NYSEARCA:PPE), (NASDAQ: INDY), (NYSEARCA:INDL), (PIN), (SMIN) and (INCO).
On a separate note, the Federal Reserve kicked off its tightening cycle with an expected quarter-point hike, and the stock and bond markets had different reactions.