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At $1 billion+ in assets, the Claymore/BNY BRIC ETF (Amex: EEB) is one of the largest funds in the Claymore ETF family.

The BRIC ETF tracks the Bank of New York Mellon BRIC Select ADR Index which is comprised of ADRs and GDRs selected from listed depositary receipts of companies from Brazil, Russia, India and China currently trading on U.S. exchanges. The stocks are picked with a method developed by The Bank of New York Mellon that looks at minimum share price, trading volume and market cap.

Because the modified market-cap weighting of the index favors stocks that have run up in value, the country splits are skewed towards Brazil and China. As of 12.31.07, the split was:

• 48% Brazil
• 36% China
• 10% India
• 6% Russia

Largest holdings as of 2.27.08 include Petrobras (NYSE: PBR), China Mobile (HKSE: 0941.HK ) and Vale do Rio Doce (NYSE: RIO). Also represented in the index are China Life (NYSE: LFC), PetroChina (NYSE: PTR ), Infosys (Nasdaq: INFY ) and Vimpel Communications (NYSE: VIP).

Read more at the Claymore ETF website.

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WisdomTree and PowerShares both announced plans to bring new India ETFs to market later this month. The new ETFs will provide direct exposure to Indian Securities for the first time, however, the firms will take different approaches.

WisdomTree intends to launch an earnings-weighted India ETF (EPI) that offers exposure to a universe of approximately 150 profitable companies in the WisdomTree India Earnings Index.

PowerShares will launch the PowerShares India Portfolio (PIN). PIN is based on the Indus India Index which tracks the performance of 50 Indian domiciled companies across the information technology, health sciences, financial services, heavy industry, and consumer products segments.

The new ETFs are expected to address the shortcomings of existing India ETFs and closed-end funds that rely on derivatives and ADRs as a proxy for local equities.

Learn more at the firms’ websites WisdomTree and PowerShares.

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