State Street (the managers of the SPY ETF), are coming out with 3 more ETF's. See etf.com - State street debuts etfs income em and commodities for additional detail.

The quest of finding a way to beat the market never ends (and never will). And indeed they'll probably manage to attract significant dollars into these funds with their sales pitch.

But I'd be willing to go out on a limb and say that these new funds will ultimately lag market indexes... The real winners end up being the companies with all these offerings. And since I don't want to be the "gloom and doomer", one bright note is that at least expense ratios on many ETF's / funds continues to drop. At the risk of dating myself, I can easily recall the days when mutual funds would charge huge front-end and back-end "loads"(2-5%) just to buy in and get out of their funds!

Lee