Elliott

Jim Cramer on ETF Proliferation

I agree with commenter Asif Suria. Pundits say too many ETFs are bad, but none of them have presented any objective evidence that ETF proliferation is harmful to anyone. In addition to the many mutual funds that Asif mentioned, there are also over 600 closed end funds -- those don't seem to be causing any harm.

Note that today's top performing ETF is the new ProShares Short QQQQ ETF, symbol PSQ. Up 2.1% today while the rest of the market is down. A smart investor using PSQ as a hedge would have appreciated the wide selection of ETFs available.