Just last month, the news was about Claymore BNY/Mellon Frontier Markets ETF (FRN) -- and now, we have the second-to-market PowerShares MENA Frontier Countries Portfolio (PMNA), which will mimic the NASDAQ/OMX Middle East North Africa Index.FRN is diversified across several types of frontier markets, but the index underlying PMNA only invests, as the name implies, in a very narrow region; Kuwait 19.74%, UAE 19.04%, Egypt 16.11%, Qatar 14.52%, Morocco 12.21%, Jordan 9.20%, Oman 4.77%, Lebanon 2.22% and Bahrain 2.21%.
Middle East Fund Has Its Quirks, Perks
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