An Interesting China/Asia Pacific ETF You're Not Hearing About

Despite the fact that it hit a new 52-week high earlier this week and that it offers investors exposure to sexy markets such as China, India, Malaysia and Thailand, the SPDR S&P Emerging Asia Pacific ETF GMF has certainly been flying under the radar. That's somewhat odd when considering GMF holds well-known names like Baidu BIDU, China Mobile CHL, Cnooc CEO, PetroChina PTR and India's Reliance Industries among its top-10 holdings. Overall, the fund holds over 200 stocks, but don't go thinking GMF is diverse at the sector level. Financials and information technology issues account for almost 47% of the ETF's weight. GMF's under the radar status may not be long for the world as over 848,000 changed hands in the fund on Thursday compared with average daily volume of 123,000 shares. On the other hand, GMF was down almost 1% on that increased volume and the ETF is close to testing support at $80.30. If suppport there doesn't hold, a drop to $77 could be in the offing. From there, things could really ugly with a drop to the 200-day moving average around $74. GMF looks like a solid way to get some mixed emerging markets exposure, but it also looks like the ETF's run may long in the tooth and better prices could be had for the patient investor.