10 Overly Niche ETFs: They'll Happily Take Your Money

A recent Forbes article reports that there are around 407 exchange traded funds (ETFs) available for trading. Crazy, isn't it? The market has certainly moved beyond the original idea of simple investing through indexing. The article mentions 10 of the latest and mostly over-focused offerings, but uses a silly slide show interface so I've gone ahead and presented the list here in a more simplified form.

Powershares Listed Private Equity Fund (PSP)
This ETF invests in public companies that invest in private companies. Kind of circular, wouldn't you say?

iShares MSCI Canada (EWC)
Of this list, this Canada ETF is the only one that might actually have a place in a diversified portfolio.

Powershares DB Agriculture Fund (DBA)
Forbes write, “It's like owning your own farm, but you don't have to wake up until the markets open.”

Claymore/Zacks Yield Hog (CVY)
Targets companies with dividends. Not so bad. Oh wait, it also buys shares of closed-end funds. That's odd. Ah, here's the catch. Claymore runs closed-end funds. So you're basically paying them twice.

Market Vectors Environmental Services (EVX)
Seems like it's part of the green movement, but in reality just a bunch of landfills.

HealthShares GI/Gender Health (HHU)
I don't even know what this one is! Investing in health services tied to a specific gender? Is this a way to hedge against being male?

HealthShares Emerging Cancer ETF (HHK)
Focuses on emerging companies that are involved with cancer treatment. Yeah, just invest in this one and the Heart Disease ETF and you'll be all set. Talk about overly specific.

Powershares Lux Nanotech (PXN)
On the service this sounds interesting, but dig a little and you see that it just invests in companies like Hewlett-Packard. You could do that on your own.

Claymore Sabrient/Stealth ETF (STH)
This exchange traded fund targets companies that Wall Street hasn't noticed. Unfortunately, the ETF itself seems to be stealth as it's not attracting any attention. Might as well pick up some of the Microcap ETF with its underlying holdings that Wall Street also ignores.

Powershares DB US Dollar Index Bullish Fund (UUP)
Forbes sums it up nicely with, “Because it's so hard to buy the U.S. dollar? At an ATM.”