Claymore announced the launch of the Claymore/BNY Mellon Frontier Markets ETF (FRN). FRN is the first U.S. ETF that provides investors with access to up to 41 countries that are less developed than traditional emerging markets—often referred to as the “frontier markets.”

Frontier markets have been referred to as the next generation of emerging markets and may potentially offer attractive risk and return ratios, as well as lower correlations to developed and emerging markets.

Potential countries for inclusion in the Index include Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, United Arab Emirates, Egypt, Ghana, Kenya, Malawi, Mauritius, Morocco, Nigeria, Tunisia, Zimbabwe, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Kazakhstan, Latvia, Lithuania, Poland, Romania, Slovak Republic, Slovenia, Ukraine, Bangladesh, Pakistan, Papua New Guinea, Sri Lanka, Vietnam, Peru, Chile, Colombia, Ecuador, Jamaica, Panama and Trinidad & Tobago.

FRN will track the The Bank of New York Mellon New Frontier DR Index which includes only companies with float-adjusted market capitalizations of more than $100 million that have depositary receipts that trade on U.S. exchanges or the London Stock Exchange.