The Market
Vectors Gulf States Index ETF (MES),
an exchange-traded fund (ETF) that started trading on July 23, 2008,
is based on the Dow
Jones GCC Titans 40 Index, which includes stocks that are based
or do business in five countries (Bahrain, Kuwait, Oman, Qatar and
United Arab Emirates) that belong to the Gulf Cooperation Council
(GCC).
Currently MES's top sectors include banks, financial services and
real estate. MES is heavily weighted with stocks from Kuwait, the
United Arab Emirates, Qatar, and Oman .
The top five holdings, as of August 5, 2008, are Mobile
Telecommunications Company, National
Bank of Kuwait, Kuwait
Finance House, Emaar
Properties and National
Industries Group Holdings.
MES has an expense ratio of 0.98 percent.
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Updated August 15, 2008.
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