NEW YORK ( TheStreet) -- Emerging Global Shares INDXX India Small Cap Fund ( SCIN) and the Global X Brazil Consumer ETF ( BRAQ) are the latest ETFs to offer targeted investment within a single emerging market.

The recent bout of economic turmoil gripping the European Union and China has led many U.S. investors to shy away from not only these two regions, but international markets in general. However, the recent global economic jitters have not been enough to dissuade ETF providers from releasing new products aimed at tracking various slices of some of the most popular countries from around the globe.

The BRIC nations remain popular for many ETF providers looking at emerging markets. Although broad products such as iShares MSCI Brazil Index Fund ( EWZ), Market Vectors Russia ETF ( RSX), PowerShares India Portfolio ( PIN) and iShares FTSE/Xinhua China 25 Index Fund ( FXI) have been around for years, fund companies have taken to launching funds which further slice these individual markets.

Two of the newest ETFs to hit the scene are the Emerging Global Shares INDXX India Small Cap Fund and the Global X Brazil Consumer ETF.

Focusing on India

SCIN is the third new fund from Emerging Global Shares in 2010. EGShares is a boutique fund provider which initially came on the scene boasting a small family of ETFs aimed at tracking emerging market sectors.

Unfortunately, products like EGShares Emerging Markets Metals/Mining ( EMT) and EGShares Emerging Markets Financials ( EFN) have struggled to garner much of a following and currently change hands less than 10,000 times each day.

Recently, the company appears to have shifted focus, launching products aimed at tracking the infrastructure industry of individual nations. EGShares China Infrastructure ETF ( CHXX) and EGShares Brazil Infrastructure ETF ( BRXX) have had a better start, now trading 17,000 and 51,000 times each day.

SCIN, like BRXX and CHXX, will focus entirely on the market of a single nation: India. However, rather than playing the Indian infrastructure industry, this fund will cover the nation's smallest companies.

In the past, small-cap BRIC nation-focused ETFs, including Market Vectors Brazil Small Cap ETF ( BRF) and Claymore/AlphaShares China Small Cap Index ETF ( HAO), have proven to be popular funds. I anticipate SCIN will garner a similar following.

Concerning the portfolio, as of the end of June, commercial banks and IT services made up the biggest slices of SCIN's index, representing 12.5% and 8.5% of the fund respectively.

Seventy-five companies comprise the fund's index and weightings are based on market capitalization. Patni Computer Systems, Indian Bank and Mangalore Refinery represent SCIN's three largest positions, making up 3.4%, 2.5% and 2.0% of the fund respectively.

Targeting Brazil

Global X has not wasted any time in expanding its suite of funds aimed at tracking unique slices of the Brazilian markets. In the closing weeks of June, the Global X Brazil MidCap Fund ( BRAZ) debuted, providing investors with the first opportunity to gain exposure to companies with market caps that place them between those tracked by EWZ and those tracked by BRF.

Two weeks later, BRAQ gave investors the chance to play Brazil's consumer industry. Looking ahead, Global X appears to be in the process of launching a third fund aimed at tracking the nation's financial industry as well.

BRAQ is the fifth fund launch from Global X this year. Like EGShares, this small fund provider has explored a number of different directions in hopes of building a niche in the quickly expanding ETF universe.

Prior to launching Brazil-focused products, the company made a foray into the materials industry, putting together funds such as the Global X Silver Miner ETF ( SIL) and Global X Copper Miner ETF ( COPX) in hopes of attracting investors to new precious and base metal options.

Before SIL and COPX, the firm also launched a collection of funds focused on the individual sectors of the Chinese economy. Some of these funds have struggled while others, such as SIL and the Global X China Financials ETF ( CHIX), have become popular funds.

BRAQ tracks a basket of 28 companies in Brazil's food & beverage, retail, travel & leisure, household goods, and media industries. Top holdings such as Companhia de Bebidas das Americas (ABV), Brazil Foods, Companhia Brasileira De Distribuicao and Natura Cosméticos each represent over 4.5% of the fund's total portfolio.

BRAQ and SCIN will certainly not be the last BRIC-focused ETFs to be available to investors. However, it is important to remember that a byproduct of slicing and dicing these nations' markets into smaller chunks is an increase in risk.

It is easy to get lost among the more than 1,000 ETF products currently available, and in order to maintain a portfolio of strong, stable domestic and international positions, investors must do their homework before jumping into new products.

-- Written by Don Dion in Williamstown, Mass.

Readers Also Like:

At the time of publication, Dion Money Management was not long any of the equities mentioned.

Don Dion is president and founder of Dion Money Management, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Mass., Dion Money Management manages assets for clients in 49 states and 11 countries. Dion is a licensed attorney in Massachusetts and Maine and has more than 25 years' experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

Dion also is publisher of the Fidelity Independent Adviser family of newsletters, which provides to a broad range of investors his commentary on the financial markets, with a specific emphasis on mutual funds and exchange-traded funds. With more than 100,000 subscribers in the U.S. and 29 other countries, Fidelity Independent Adviser publishes six monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.

If you liked this article you might like

Trader's Daily Notebook: Is a Battered Brazil Worth a Buy?

Trader's Daily Notebook: Is a Battered Brazil Worth a Buy?

Advanced Trade: Brazil ETF

Advanced Trade: Brazil ETF

Walmart, Alibaba, iShares Brazil, Cisco: How to Trade Thursday's Most-Active Stocks

Walmart, Alibaba, iShares Brazil, Cisco: How to Trade Thursday's Most-Active Stocks

Thursday's Most Active Stocks

Thursday's Most Active Stocks

Brazilian Stocks Tumble After Tape Allegedly Shows President Temer Supporting Bribes

Brazilian Stocks Tumble After Tape Allegedly Shows President Temer Supporting Bribes