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Pisani: New ETF = Play on Mid-East Growth

CNBC.com
Thursday, 24 Jul 2008 | 3:39 PM ET
CNBC 101: Gulf State ETFs
CNBC's Bob Pisani takes a look at new Gulf state ETFs.

Trader Talk blogger Bob Pisani discussed a new Middle East-oriented ETF: The Van Eck Market Vectors Gulf States Index.

The ETF (exchange-traded fund) offers investors access to 40 companies, based in key U.S. allies Bahrain, Kuwait, Oman and the UAE.

Pisani notes that the ETF includes no oil companies, which are generally owned by these nations' governments. Instead, the ETF is largely built on financial services and construction companies -- playing the Mideast construction boom.

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Other Major ETFs:

- SPDRs

- SPDR Gold Shares

- UltraShort Real Estate ProShares

- Financial Select Sector SPDR

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