Last week, the ASX welcomed yet another new exchange-traded fund (ETF) to its boards. Yes, Thursday saw the float of the BetaShares Future of Food ETF (ASX: IEAT). So now that this new ETF is five trading days into its new ASX life, it might be a good time to check how it's faring.

According to provider BetaShares, this new IEAT ETF is designed as follows:

The BetaShares Future of Food ETF (ASX: IEAT) provides a convenient, cost-effective way to access the growth potential of the 'future of food' revolution, a segment of the global food industry that focuses on more sustainable, humane and healthier ways to produce the food we eat.

IEAT aims to track the performance of an index (before fees and expenses) that provides exposure to a portfolio of some of the world's most innovative companies in the areas of global food production and supply. 

This ETF charges an annual management fee of 0.67% per annum. Its current top holdings include Danone SA, Archer-Daniels-Midland Co, International Flavors & Fragrances Inc, Bunge Ltd and FMC Corp. It has a fairly large weighting to the United States at 53.2% of the underlying portfolio as it currently stands. But other countries like Sweden (11.4%), Denmark (8.6%), Japan (3.3%) and Britain (2.2%) are also present.

The ASX welcomes another new ETF

IEAT tracks the Foxberry Next Generation Foods USD Net Total Return Index, which has struggled in recent years. As of 31 May, it had gone backwards by 16.55% over the preceding 12 months, but had netted a positive 4.76% per annum on average over the past five years.

So how has IEAT fared?

Well, this ETF began life at around $11.83 per unit last Thursday. By the end of its first trading day, it had slipped slightly to $11.82. But today, IEAT units are being priced at $11.87. That's up 1.02% for the day so far, and represents a gain of 0.34% from its listing price.

But IEAT may not be the last new ETF we get from BetaShares in 2022. According to the provider, two new energy-based ETFs are coming to the ASX "soon". These will be the BetaShares Solar ETF (ticker code to be TANN), and the BetaShares Global Uranium ETF (ticker URNM).

So lots to keep an eye out for in the ASX exchange-traded fund space over the next few months.

The post 1 week in: Here's how the ASX's newest ETF is tracking appeared first on The Motley Fool Australia.