Earlier this month (12/8/2011) Global X Funds launched the first US-listed ETF targeting Greece. Global X FTSE Greece 20 ETF (GREK) is based on the FTSE/ATHEX 20 Capped Index of the top 20 Athens Exchange-listed companies ranked by full market capitalization.

We all know Greece has its problems. Many investors may still be surprised to know the country’s stock market lost nearly 90% of its market cap the past four years. While there is no guarantee that the Greek economy will ever recover, US investors now have easy access.

The fund’s largest holdings include Coca Cola Hellenic 15.1%, National Bank of Greece 12.3%, Opap GA 8.7%, Hellenic Telecom 5.2%, Bank of Cyprus 3.5%, Hellenic Petroleum 3.4%, and Titan Cement Company 3.4%. Top sector allocations include Financials 35.1%, Consumer Discretionary 18.4%, Consumer Staples 12.7%, Industrials 9.3%, and Telecommunications 8.8%.

GREK’s expenses are capped at 0.69% and additional information is located in the summary, press release (pdf), fact sheet (pdf), and prospectus (pdf).

Disclosure covering writer, editor, and publisher: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.