Five India ETFs Your Broker Forgot To Mention

Summarizing the woes of India-specific ETFs in 2011 is no hard task. In fact, the trials and tribulations of this sub-sector of the ETF universe can be summarized in one word: Inflation. The Reserve Bank of India has been on a scorched-earth campaign to raise interest rates with precious little in the way of positive results. Still, India is the second-fastest growing major economy in the world behind China. India's GDP is expected to grow at 8.1% this year, the Times of India reported, citing the United Nations Conference on Trade and Development. Sounds good and with valuations depressed, it might just be time to have a look at some India-specific ETFs your broker forgot to mention. EGShares India Infrastructure ETF INXX: The EGShares India Infrastructure ETF is a long-term fundamental based on the thesis that India must and will improve its decrepit infrastructure. In the near-term, INXX is a chart play. Entering just below is safe, but if support at $14 doesn't hold, smart traders will bail. Market Vectors India Small-Cap ETF SCIF: When the Market Vectors India Small-Cap ETF and the EGShares India Small-Cap ETF SCIN made their respective debuts, they looked like must haves for the emerging markets portion of investors' portfolios. For essentially all of 2011, they've been “must avoids.” SCIF is down almost 37% year-to-date, but at around $12.50 consider the ETF a long-term call option on the Indian growth story. EGShares Technology GEMS ETF QGEM: The EGShares Technology GEMS ETF, newly minted as a matter of fact, is obviously not an India-specific ETF, but India is the biggest country weight at over 44% of the ETF's weight. In other words, India's woes will pressure QGEM, but improvement in Indian equities will have the opposite effect. Tech is one of the backbones of the Indian economy, so QGEM is worth a spot on your personal watch list. PowerShares India Portfolio PIN: The PowerShares India Portfolio isn't exactly “forgotten” when it comes to India ETFs, but it has a tendency to fly under the radar when it comes to the larger, more liquid India funds. PIN has slightly outperformed a pair of rival funds over the past three months, which means it's down less than that pair. But hey, less bad is better than really bad. Direxion Daily India 2X Bull Shares INDL: For those willing to bet on a short-term bounce in Indian equities, INDL is the weapon of choice. Be advised, this fund and its bearish cousin, the Direxion Daily India 2X Bear Shares INDZ will soon become triple-leveraged funds.