An ETF that provides broad exposure to securities listed in the Middle East was launched today.

The WidsdomTree Middle East Dividend Fund (GULF) provides exposure to 70 dividend-paying companies listed in Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar and the United Arab Emirates.

In addition to exposure to oil driven economies, the fund provides an opportunity to diversify risk.  According to WisdomTree, Middle East equity returns have historically demonstrated a low correlation to the U.S. market.

The WisdomTree fund joins a growing market of Africa and Middle East focused ETFs including State Street’s SPDR S&P Emerging Middle East and Africa ETF (GAF), PowerShares MENA Frontier Countries Portfolio (PMNA) and Van Eck Global’s Market Vectors Africa Index ETF (AFK).