Entering text into the input field will update the search result below

New ETF targets India's internet and e-commerce sector

Mar. 17, 2022 9:29 AM ETiShares MSCI India ETF (INDA), EPI, INDY, INDLPIN, INCO, SMINBy: Jason Capul, SA News Editor

Indian flag

daboost/iStock via Getty Images

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 ETF (INQQ) has been filed with the U.S. Securities and Exchange Commission and intends to offer individuals access to a universe of Indian stocks that are noted as leaders in the internet and e-commerce arena.

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 gaming, search engines and social networks space. 

According to the prospectus, INQQ intends to trade on the New York Stock Exchange and plans to come forward with a 0.86% expense ratio. Moreover, the index that INQQ tracks intends to rebalance itself on a semi-annual basis.

INQQ comes to market at a time when India’s overall internet economy is projected to reach $1T by 2030, according to a report by RedSeer.

INQQ will be the first ETF to focus solely on the internet and eCommerce space but still may compete with other funds that offer exposure to businesses in India such as: (BATS:INDA), (NYSEARCA:EPI), (NASDAQ:INDY), (NYSEARCA:INDL), (PIN), (SMIN), and (INCO).

On a separate note, the Federal Reserve has kicked off its tightening cycle with an expected quarter-point hike, and the stock and bond markets had different reactions.

Recommended For You

More Trending News

Related Stocks

SymbolLast Price% Chg
INDA--
iShares MSCI India ETF
EPI--
WisdomTree India Earnings Fund ETF
INDY--
iShares India 50 ETF
INDL--
Direxion Daily MSCI India Bull 2x Shares ETF