Claymore Joins ETF Scrum

But not everyone thinks so.

Marta Norton, a fund analyst with Morningstar, says, "If investors are interested in these ETFs, they should take a hard look at them and see what they offer vs. what conventional ETFs have."

"I'm not sure these are something completely new, even though they look different," she adds.

One issue Norton has with the Claymore funds is cost: All five ETFs are capped at 0.60%. In many cases, Norton says, "I think you can find virtually the same things these ETFs offer ... with a more conventional ETF with a lower expense ratio."

Norton is also concerned about the potential volatility of some of the products and possible overlap within investors' portfolios.

On the cost side, XTF's Woods says, "It's hard to say if they're high [in cost] or low. You have to put it in proper perspective."

The cost is high compared with broad-based ETFs such as the SPDRs(SPY), which charge 0.10%, he says. However, compared with newer, more creative ETFs, they're pretty much in line, and they're a lot cheaper than most actively managed mutual funds, Woods adds.

In terms of volatility, he says it depends on the ETFs' designated purpose in a portfolio. If they are being used outside the core of the portfolio, investors may want some volatility.

Woods is a fan of the new products, but says, "We have to see them trade for about six months to see how they fit into the market."

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