In 2010, IGN's concentrated investing strategy has paid off. The fund has jumped 25% this year, beating out tech-focused funds with a broader reach such as the PowerShares QQQ ( QQQQ).

Investors can access the smartphone industry through an international lens as well. A number of companies outside of the U.S. have a direct impact on the production of these popular gadgets and will thrive as they increasingly become staples of our everyday business and social lives.

The iShares MSCI Taiwan Index Fund ( EWT) is one of the best international ETFs for following smartphone growth. Although the fund is designed to capture the strength of the broad Taiwanese economy, its performance is heavily reliant on the performance of the information technology sector.

Companies including Taiwan Semiconductor Manufacturing ( TSM), Hon Hai Precision, and HTC represent the fund's top three positions and make up a combined 26% of the fund's total index. All three play an essential role in creating various smartphone components and models.

The smartphone industry looks promising and will likely be an exciting region of the market to watch in 2011. By utilizing funds such as IGN and EWT, investors can gain a front row seat to the sector's growth, and profit as more people around the world turn to these gadgets to stay connected.

Written by Don Dion in Williamstown, Mass.

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At the time of publication, Dion Money Management does not have a position in any of the equities mentioned.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

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