In yet another first for the U.S. ETF industry, State Street has rolled out the first fund to focus exclusively on small cap stocks in Asia Pacific economies. The New SPDR S&P Small Cap Emerging Asia Pacific ETF (GMFS) joins an existing SPDR ETF targeting large cap stocks in the region, as well as a growing number of international equity funds focusing on smaller stocks. The recently launched ETF is linked to the S&P Asia Pacific Emerging Under USD 2 Billion Index, a benchmark that consists of about 500 different holdings with an average market cap of approximately $460 million. By comparison, the SPDY S&P Emerging Asia Pacific ETF (GMF) has a weighted average market cap of more than $12 billion. Under The Hood The country allocation of GMFS is certainly worth noting, as this fund consists of a huge weighting towards a market that many investors consider to be developed. Taiwan stocks account [...] Click here to read the original article on ETFdb.com. Related Posts: Six Noteworthy ETF Innovations Van Eck Launches Small Cap Germany ETF (GERJ) First Small Cap Singapore ETF Debuts ETF Misnomers: Why You Never Judge A Fund By Its Cover BRIC ETF Investing: Small Cap Edition