IndexIQ, a Rye Brook, N.Y.-based ETF firm known for its hedge fund replication strategies, rolled out two small-cap exchange-traded funds on Tuesday that are focused on Canada and Australia, the first in a series of 13 product launches targeting commodities and Asia, the most vibrant realms of the global economy.

The initial two, the IQ Australia Small Cap ETF (NYSEArca: KROO) and the IQ Canada Small Cap ETF (NYSEArca: CNDA), target companies in two countries that produce raw materials that are in high demand in  Asian economies.

“Australia and Canada both have booming economies, and their currencies are strong,” IndexIQ Chief Executive Officer Adam Patti said in a telephone interview. “They’re both strong commodities stories,” he noted.

Asian economies, led by China and India, are among the fastest-growing on the planet, and investing in commodities and companies producing them is one of the best ways to profit from the boom. The UBS CMCI Price Index of commodities has more than tripled in the past decade and has risen almost 60 percent since the market crash of 2008.

“We’ll start floating the other ones over the next couple of months. It depends on how quickly we see demand for the products,” Patti said, adding he hopes IndexIQ completes the rollouts sooner rather than later.

IndexIQ outlined all 13 of the small-cap ETFs it plans to offer in a filing with the Securities and Exchange Commission last week.

“The one thing that ties them all together is China,” Patti said, noting that many of the countries the funds are focused on are among China’s top 10 trading partners.

The next launches will be the IQ South Korea Small Cap ETF (NYSEArca: SKOR) and the IQ Taiwan Small Cap ETF (NYSEArca: TWON), focusing on two countries more associated with prowess in computer technology than with commodities exports, IndexIQ’s CEO said.

After those funds will come another pair from Asia, the IQ Hong Kong Small Cap ETF (NYSEArca: HKK) and the IQ Singapore Small Cap ETF (NYSEArca: SAX), Patti said.

The remaining three Asia-focused funds include the IQ Indonesia Small Cap ETF (NYSEArca: INNN), the IQ Malaysia Small Cap ETF (NYSEArca: MALA) and the IQ Thailand Small Cap ETF (NYSEArca: THAI), according to the SEC filing

IndexIQ also plans to introduce four funds focused on commodity companies, including the IQ Global Agribusiness Small Cap Equity ETF (NYSEArca: CROP), the IQ Global Natural Gas Small Cap Equity ETF (NYSEArca: IGAS), the IQ Global Crude Oil Small Cap Equity ETF (NYSEArca: IOIL) and the IQ Global Gold Small Cap Equity ETF (NYSEArca: GLZ).

Some Cheaper Than Others

Annual management fees on the ETFs vary, with Australia and Canada funds charging 0.69 percent, or 69 basis points (100 basis points equal 1 percentage point). The Hong Kong and Singapore ETFs will also have an expense ratio of 69 basis points.

The gold fund will be the cheapest, at 50 basis points, and the Taiwan fund will be the most expensive, at 91 basis points.  Cost of the Taiwan ETF includes a 12-basis point tax on foreign investors, according to the SEC filing.

Funds charging 79 basis points include the Indonesia, Malaysia, South Korea and Thailand ETFs. The ETFs with 65 basis points in annual fees are targeting agribusiness, natural gas and crude oil industries.

Each fund will track an underlying index of the same name and will strive for a fully replicating strategy. However, the funds might at times hold a representative sample of equities in the indexes as they seek to replicate returns. The indexes were created by IndexIQ's parent company Financial Development Holdco LLC.