Investors who are looking to gain exposure to one of the top performing global markets, may be interested in a new ETF that starts trading today. The Tel-Aviv 25 index is the main Israeli large-cap stock index and has produced triple digit returns over the last four years. While Israel is known to have more publicly traded companies in the U.S. than any other country in the world, the make-up of the local TA 25, is mostly a domestic play on banks, phone companies, supermarket chains and other domestic consumption plays. The Israeli companies that trade in the U.S. are mostly hi-tech firms.

A few months ago Ishares launched an ETF on locally traded Israeli stocks. The Ishares MSCI Israel Index (NYSE: EIS) has done quite well, but there is an inherent flaw in the make-up of the ETF. The index gives Israeli generic drug giant, Teva Pharmaceutical (NASDAQ: TEVA) a colossal 25% weighting, basically leaving investors with a, "Where Teva goes, so goes the ETF" type of investment.

Starting today, the EIS will be joined by another ETF. Northern Trust (NASDAQ: NTRS) is launching the TAV, an ETF based on the TA 25. The ETF will try to follow the TA 25, and rarely will have an individual stock weighted above 10%.

For investors looking for some international exposure, take a look at Israel and research the new ETFs on the market. It's a good way to gain entrance and exposure to a flourishing market.

Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 5/27/08