This ETF offers exposure to the global energy sector through a diverse portfolio of domestic and international equities, with exposure spreading across both developed and emerging markets. Not surprisingly, FILL has a heavy tilt towards mega cap stocks, as this ETF includes a number of the world's biggest oil companies. Furthermore, the global label on this ETF may be a bit misleading seeing as how emerging market companies account for only a minimal fraction of total assets. Roughly half of the underlying portfolio is invested in U.S. energy stocks, which makes this fund less of a true broad-based play on the global energy sector than some might expect. On the other hand, FILL features by far the most diverse portfolio of holdings among broad energy ETFs. Investors looking to minimize costs may opt for the domestic-focused XLE instead, while small cap-focused ETFs like IOIL and PSCE can help to complement large-cap, core holdings.