Claymore Investments Inc. announced that the Claymore S&P/TSX Global Mining ETF (TSX: CMW) began trading today on the Toronto Stock Exchange.

The exchange traded fund seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of an equity index called the S&P/TSX global mining index. The index is currently comprised of 107 stocks selected based on the relative importance of the global mining industry within their business model and has a balanced representation from different segments of the mining industry consisting of five sub-industries including: aluminum; diversified metals & mining; gold; precious metals & minerals; and coal & consumable fuels.

“We believe this ETF fills a void in the market for a pure play ETF on the global mining industry”, says Som Seif, president of Claymore Investments. “Investors now have a product that invests in securities of mining companies that may have exposure to nickel, copper, gold and other core metals; but also covers consumable fuels such as uranium, which currently is an orphaned sub-sector and not covered by other indexes.”

To ensure investability, a developed market listing and a minimum market capitalization of US $300 million is required. The index is rebalanced annually.

Like Claymore Investments’ other current ETFs, Claymore S&P/TSX Global Mining ETF, will be offering two classes of units, the common unit (CMW) and advisor class unit (CMW.A).