This ETF offers exposure to the Middle East, making it an interesting option for investors looking to bet on a region that can exhibit significant volatility. The regions covered by this ETF generally receive only minor allocations in global or emerging markets ETFs, so GULF can be an efficient tool for those looking to increase their exposure. GULF differentiates itself by the weighting methodology; the related benchmark includes dividend-paying stocks, and as such this ETF is likely to be tilted towards the telecom sector (and perhaps financials and industrials). One potential drawback of GULF is the concentration; a handful of stocks account for a big portion of assets, and there are only about 50 components in total. While GAF and MES may seem to be similar alternatives to GULF, the country exposure offered varies drastically across these three options; be sure to take a close look under the hood to make sure the exposure you desire is there. GULF is towards the higher end of the ETF spectrum, but the fees are reasonable for the type of exposure offered (and this ETF is considerably cheaper than MES).