The third emerging market sector exchange-traded fund launched on Wednesday, this time adding top stocks from a composite index of 10 sectors spanning 15 countries.

The name of the new ETF is a mouthful—the Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund (NYSE Arca: EEG). Its sponsor is Emerging Global Advisors, which is responsible for coming to market in May with the first sector-focused emerging markets ETFs so far.

Those are the Emerging Global Shares Dow Jones Emerging Markets Energy Fund (NYSE Arca: EEO) and the Emerging Global Shares Dow Jones Emerging Markets Metals & Mining Titans Index Fund (NYSE Arca: EMT). You can read more about those ETFs here.

EEG is designed to track the Dow Jones Emerging Markets Sector Titans Composite Index. That benchmark includes the 100 top names by market capitalization sizes in major sectors across the developing marketplace. The sector weightings are modified in that no one name can have more than a 10% exposure in the fund.

The ETF will charge an annual expense ratio of 0.75%.

EEG differs in both its geographical complexion as well as its sector exposures in several subtle, yet possibly significant ways, from broader-based emerging markets ETFs. For example, take the iShares MSCI Emerging Markets Index (NYSE: EEM). It has roughly the same in financials (23.89%) as EEG’s benchmark had at the end of the second quarter (22.35%).

But financials are the second-biggest sector in EEG, whereas it’s No. 1 in EEM. Oil and gas was the Dow Jones index’s largest sector weighting, at slightly more than 29% (again, through June). EEM has less than 16% in energy right now.

“Since we don’t include Taiwan, Korea and Israel—we don’t consider them emerging markets—our fund will have a little bit more exposure to the BRICs. That means we’ll have less in areas like telecom and a little more in resource-related sectors,” said Richard Kang, EGA’s research director.

Kang and the firm’s chief executive, Bob Holderith, discussed in detail how a composite sector emerging market ETF might work—along with the company’s other plans to launch 10-plus related sector ETFs—in this Q&A story that ran at IndexUniverse.com in June.)

Entering the third quarter, the underlying benchmark for EEG had the following country makeup:

• China Offshore: 20.43%

• Brazil: 20.29%

• India: 18.15%

• Russia: 14.24%

• Mexico: 10.07%

• South Africa: 8.30%

• Chile: 2.74%

• Malaysia: 1.85%

• Indonesia: 1.53%

• Kuwait: 1.04%

The fund’s sector weightings of its underlying benchmark showed the following breakdown:

• Oil & Gas: 29.02%

• Financials: 22.35%

• Basic Materials: 11.36%

• Telecommunications: 10.70%

• Industrials: 5.55%

• Consumer Goods: 5.20%

• Technology: 4.93%

• Consumer Services: 4.80%

• Utilities: 4.25%

• Health Care: 1.84%