NEW YORK ( TheStreet) -- The ETF universe continues to expand and with over 1,000 different products currently trading, finding new, unique and attractive investment niches to fill has become a difficult task for providers.

As evidence, a number of ETF companies have resorted to launching funds which repackage indexes, while others have attempted to pull in new assets through the use of attractive pricing gimmicks.

However, some companies still have stuck to the traditional method of driving traffic: launching funds which fill gaps previously left untouched by other ETF providers. With products such as the Global X/InterBolsa FTSE Columbia 20 Index ETF ( GXG), Global X Silver Miners ETF ( SIL) and Global X China Financials ETF ( CHIX), Global X, has relied on its unique collection of products to grow its brand. Oftentimes, Global X funds are first movers within their respective market niches.

Since its products tap into previous unexplored market niches, Global X's suite of products includes a number of highly popular products as well as others that have struggled to gain traction. For instance, although it is just slightly over two months old, SIL has managed to take off with the growing interest in precious metals.

Today, the fund changes hands nearly 250,000 per day. Global X FTSE Nordic 30 ETF ( GXF), on the other hand, has been around for nearly a year but has not been nearly as popular, with an average volume failing to break the 10,000-share mark.

On Tuesday, the firm will attempt to attract new investor assets with the launch of the Global X Brazil Mid Cap ETF ( BRAZ). Although a number of products currently track aspects of this attractive emerging market, this fund provides investors with the very first opportunity to play Brazilian companies that have market caps ranging from $2 billion to $10 billion.

BRAZ will track the Solactive Brazil Mid Cap Index which consists of 40 individual holdings. Top positions include CPFL Energia, Companhia Energetica de Minas Gerais, All America Latina Logistica, and Metalurgica Gerdau.

Because it focuses on solely mid-cap companies, BRAZ will fill the gap left open between the large and mega cap-focused iShares MSCI Brazil Index Fund ( EWZ) and the small-cap Market Vectors Brazil Small Cap ETF ( BRF).

The new fund will carry a 0.69% expense ratio, causing it to fall between EWZ and BRF in terms of cost to investor.

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