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NEW YORK (TheStreet)-- In an attempt to offer investors another way to gain exposure to growing consumers in emerging markets, EGShares, an ETF provider, launched the Emerging Markets Consumer ETF, which trade under ticker symbol ECON.

Data suggests that in the coming years consumers in emerging markets are going to be the true drivers of the global economy. According to a research study conducted by McKinsey & Co., the rapidly expanding middle class of emerging nations is currently spending nearly $6.9 trillion annually and is expected to reach $20 trillion during the next decade.

Furthermore, the report indicates that income on a per-capita basis in these regions is expected to increase significantly with India expecting a nearly four-fold increase in average national income, with aggregate consumption to follow.

As incomes increase in these regions, there is likely to be a shifting in spending from basic necessities to discretionary items. With this shift, sectors like retail, media, automotive, personal goods and travel & leisure reap the benefits. Additionally, research indicates local companies that are involved in the aforementioned sectors are likely to reap the most rewards.

EGShares launched the Emerging Markets Consumer ETF, which tracks the Dow Jones Emerging Market Consumer Index, which utilizes a free-float market cap weighted index of 30 leading emerging market companies in the Consumer Goods and Consumer Services sectors.

As of June 30, 2010, the index allocated 53% of its assets to consumer goods and 47% to consumer services in addition to giving currency exposure to ten emerging markets.

In regards to country exposure, the index allocates 21.13% of its assets to Brazil, 20.81% to Mexico, 16.19% to India, 11.88% to South Africa and 8% to Chile.

Additionally, the index industry weightings are as follows: 16.27% to general retailers, 14.85% to automobiles and parts; 14.24% to beverages; 13.46% to food producers; 10.86% to media; 10.84% to food and drug retailers; 7.48% to tobacco; 7.35% to travel & leisure; 3.41% to personal goods; 1.23% to household goods.

Lastly, the index boasts Companhia de Bebidas das Americas Pref., Wal-Mart de Mexico S.A.B. de C.V. and Astra International as its top holdings.

Written by Kevin Grewal in Houston, Tx

At the time of publication, Grewal was not long any equities mentioned. Kevin Grewal is the founder, editor and publisher of

ETF Tutor and serves as the editor at , where he focuses on mitigating risk and implementing exit strategies to preserve equity. Additionally, he is the editor at The ETF Institute, which is the only independent organization providing financial professionals with certification, education, and training pertaining to exchange-traded funds (ETFs). Prior to this, Grewal was a quantitative analyst at a small hedge fund where he constructed portfolios dealing with stock lending, exchange-traded funds, arbitrage mechanisms and alternative investments. He is an expert at dealing with ETFs and holds a bachelor's degree from the University of California along with a MBA from the California State University, Fullerton.