ETF Watch: Small Cap ETFs for Anything, Hong Kong Small Caps (HKK, SKOR, TWON)

Investing

Published: May 18, 2011 12:06 pm

They say there is an ETF for just about anything. Now we have IndexIQ launching a small cap ETF based on Hong Kong’s small cap equity listings. The launch of IQ Hong Kong Small Cap ETF (NYSE Arca: HKK) is being launched as another “Asian Tiger.”

The new ETF allows investors in America one more avenue to get into domestic Hong Kong via small-cap stocks. The ETF aims to track the performance of the IQ Hong Kong Small Cap Index in a market cap-weighted index.

Index IQ already has two cousins of this ETF… IQ South Korea Small Cap ETF (NYSE: SKOR) is the first South Korea small cap ETF and IQ Taiwan Small Cap ETF (NYSE: TWON) is the first Taiwan small cap ETF.

The Hong Kong version of this shows that there are 100 holdings per the factsheet and the top ten holdings are as follows, with sector and weighting percentage:

Skyworth Digital Holdings Ltd. (Consumer Discretionary) 2.24% weighting
Great Eagle Holdings Ltd. (Financials) 2.19% weighting
Kingdee International Software Group Co. Ltd. (Technology) 2.18% weighting
G-Resources Group Ltd. (Materials) 2.13% weighting
Giordano International Ltd. (Consumer Discretionary) 2.11% weighting
Pacific Basin Shipping Ltd. (Transportation) 2.08% weighting
China Gas Holdings Ltd. (Energy) 2.07% weighting
Luk Fook Holdings International Ltd. (Consumer Discretionary) 2.06% weighting
China Modern Dairy Holdings Ltd. (Materials) 2.04% weighting
Yuexiu Property Co. Ltd. (Financial) 2.03% weighting

The saying is becoming more and more true each day. There really is getting to be an ETF for just about every form of investment class.

JON C. OGG

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