EGA Emerging Global Shares Trust is looking to launch a subset of exchange-traded funds that target BRIC economies.

They are:

• Emerging Global Shares INDXX India Infrastructure Index Fund

• Emerging Global Shares INDXX China Infrastructure Index Fund

• Emerging Global Shares INDXX Brazil Infrastructure Index Fund

• Emerging Global Shares INDXX India Mid Cap Index Fund

• Emerging Global Shares INDXX China Mid Cap Index Fund

• Emerging Global Shares INDXX Brazil Mid Cap Index Fund

• Emerging Global Shares INDXX Growing Asia Large Cap Index Fund

All together, each of these funds will invest in securities as well as in ADRs and GDRs of various companies to replicate their respective indexes. Though they will strive for a fully replicating strategy, the funds may at times use a representative sampling approach if necessary to track the indexes.

Moreover, each single company will have its weighting in the portfolio capped at 10 percent.

Net operating expenses are pegged at 0.85 percent for each of these funds. ALPS Advisors is the adviser for each fund, with Emerging Global Advisors LLC the subadviser.

The Differences

Infrastructure Funds

The three infrastructure funds will track a free-float capitalization-weighted index comprising companies that are considered representative of each country’s infrastructure sector.

Each company must have a market capitalization of at least $200 million.

In the case of the India fund, a total of 50 companies comprise the index. For China and Brazil, those funds comprise 30 stocks.

Mid-Cap Funds

These funds will track indexes comprising emerging market companies that are considered midmarket capitalization companies headquartered in India, China and Brazil.

In the India Mid-Cap Index Fund, the companies included in the portfolio must have a market capitalization that is less than the smallest company in the S&P CNX Nifty Index.

To be included in the China Mid-Cap Fund, companies must have a market cap of $500 million to $5 billion. And to make the cut for the Brazil Mid-Cap Fund, companies must have a market cap of $400 million to $4 billion.

Similarly to the infrastructure funds listed, the India Mid-Cap Fund will compris 50 stocks, while the China and Brazil funds will each account for 30 securities.

These funds build on the success Van Eck and others have had marketing emerging market small-cap products.

Growing Asia Large Cap Fund

The fund will track an index comprising a representative sample of the top 50 large-cap emerging market companies in China, India, Malaysia, Thailand and the Philippines, with 50 percent of the portfolio allocated to China and India.

You can read the prospectus here.