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I found what I think is a very funny article from Morningstar that questions whether some of the new commodity and currency ETFs that are coming are a good idea or not, writes Roger Nusbaum. The author questions the risk of these from several aspects.

Commodities are high, after a good run. Currencies are very difficult to game, even Alan Greenspan says that the author writes. Also the fees may eat away performance.

What I find funny about this questioning of different types of ETFs is where it is coming from. Has there been a more irrelevant line of ETFs than the nine Morningstar Style Box ETFs? I would say the race for useless ETFs is neck and neck between Morningstar and the NYSE ETFs, NY and NYC.

The new types of ETFs are just that, new. They offer easy ways to access investment different parts of capital markets. They are no different in that some folks will use them incorrectly and lose out and some other will use them very smartly and do very well.

I was just amused by the whole thing.

Source: Morningstar on commodity and currency ETFs