Robert Powell — editor of TheStreet's Retirement Daily — often reviews exchange-traded funds for those saving for or living in retirement; in his latest issue, he looks at a new ETF that buys stocks of companies that do business primarily through online platforms or marketplaces.

WisdomTree has launched the WisdomTree Modern Tech Platform Fund ETF (PLAT) — an ETF that buys stocks of companies that do business primarily through online platforms or marketplaces.

The companies can be based anywhere, but all shares purchased by the WisdomTree Modern Tech Platforms Fund must be traded on a U.S. or European exchange.

The Modern Tech Platforms Fund is the 56th equity ETF from WisdomTree ETFs, the seventh largest ETF issuer by assets under management ($38.1 billion), bringing their ETF total to 79, says Steve McCarten, an ETF industry consultant with nearly 20 years of experience with ETFs.

 PLAT seeks to track the performance of the The WisdomTree Modern Tech Platforms Index, an equal-weighted index designed to provide exposure to mid- and large-cap companies that are generating substantial revenue from a modern platform business with a minimum market capitalization of $2 billion.

WisdomTree defines a modern technology platform as a company with a non-linear, multi-sided business model focused on creating value by facilitating interactions between two or more interdependent groups through technology, says McCarten.

Based on the most recent holdings, McCarten says Communication Services is the largest sector allocation for PLAT with 36.2%, followed by Consumer Discretionary at 24.6%, and Information Technology at 14.5%. Financials (14.5), Industrials (8.7), and Healthcare (1.4) round out the remaining sector exposures.

While the fund only includes companies listed on U.S or European exchanges, the top three country exposures offered by the fund are as follows: The U.S. is largest with nearly 60%, with China the second with close to 19%, while European exposure is a distant third at 11.5%. The fund has a management fee of .45%.

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