This ETF covers the Fini15 index (STXFIN) and includes; banks, insurance companies and a few listed property stocks. It has had an excellent June on the back of GNU talks but the banks remain cheap.
ETF: Concentration risk in ETFs
In an ETF weighted by market capitalisation, your exposure to companies with rising value will increase as share prices rise, and decrease as share price falls. The risk is that over time your overall portfolio could inadvertently become over-exposed to a single sector or even share.