ETFs For GM's Sequel? Maybe, Maybe Not

Alright, General Motors (NYSE: GM) has finally graced us with its IPO and sequel as a public company. For investors looking to play the potential success of GM the sequel without jumping directly into that stock, derivative plays are few and far between. Ford (NYSE: F) immediately jumps to mind, but what about ETF plays? GM isn't in any ETFs yet and it will take a little while for the stock to make its way into the S&P 500, so where do ETF investors turn to benefit from GM's success, assuming that success is realized? One option would be the thinly traded PowerShares Active Mega Cap ETF (NYSE: PMA). Ford accounts for more than 6% of this fund's weight. Another option would be the Consumer Discretionary Select Sector SPDR (NYSE: XLY) of which Ford is a top-10 holding at 4.7%. Don't bother stretching too auto parts suppliers through ETFs because companies like American Axle (NYSE: AXL) and Borg Warner (NYSE: BWA) don't account for even 2% of any of the ETFs that they're found in. All this makes the Professor think if GM performs well, it's high time for an auto-specific ETF.