New York-based exchange-traded fund provider Global X is planning to launch another ETF focused on master limited partnerships, this time of the small-cap variety, according to paperwork filed with the US Securities and Exchange Commission (SEC).

The Global X Junior MLP ETF will use the Solactive Junior MLP Composite Index as its underlying index, and 80 per cent of its net assets will be invested in securities that have economic characteristics of the small-capitalization segment of the master limited partnership asset class.

The underlying index is intended to give investors a means of tracking the overall performance of the small-capitalisation segment of the US master limited partnerships asset class.

The Solactive Junior MLP Composite Index is comprised of MLPs engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of natural resources.