Claymore Securities launched the the first airline ETF on the NYSE Arca Monday. The Claymore/NYSE Arca Airline ETF (FAA) offers investors a way to bet on the global airline industry. I would say the coolest thing about this ETF is the ticker symbol: FAA.
The ETF tracks the newly created NYSE Arca Global Airline Index (AXGAL). The index is comprised of approximately 70% U.S. passenger airline companies, with the remaining 30% international passenger airlines. Companies must derive at least 50% of their revenue from passenger operations, have a market capitalization of at least $100 million and a 100-day average daily trading volume of at least $1 million. As of Dec. 31, 2008, the top five index constituents were AMR (AMR), Continental Airlines (CAL), Southwest Airlines (LUV), JetBlue Airways (JBLU) and Delta Airlines (DAL).