Even as ETFs have gone mainstream, the innovations continue. Here is a review of some new creative ETFs that have been launched or will shortly hit the market.

First Trust Advisors now has eight ETFs available to investors. The First Trust NASDAQ-100 Equal Weighted ETF (QQEWI) weights each of the 100 non-financial companies in the index equally and then rebalances on a quarterly basis. This avoids the problem in the market-cap weighted QQQQ where the ten largest companies in the index account for 40% of the total value. Another good option that does not get the attention it deserves is the Fidelity ETF, (ONEQ), which tracks the NASDAQ composite index of 3,000 companies. It too is market cap weighted but has somewhat better balance since the top ten holdings represent 29% of the basket