Global X Funds has launched the Global X FTSE Argentina 20 ETF, rounding out its suite of Latin American exchange-traded funds.
Global X noted that Argentina is the second largest economy by GDP in South America, after Brazil. The nation also has trading ties with emerging economic powers, with 19% of its exports going to Brazil and 9% to China. Further, it is the second-largest exporter of corn and third-largest exporter of soy in the world.
The Argentina 20 ETF “provides a relatively cost-effective way to access the second-largest economy in South America, a glaring hole in the existing ETF offerings,” said Bruno del Ama, chief executive officer of Global X Funds.
The fund tracks the FTSE Argentina 20 Index.