New ETFs: One Fund Gets Buy Rating

Two of the funds listed below have nowhere to go but up in future ratings as we initiate coverage at our lowest possible rating of E-. PowerShares DWA Emerging Markets Technical Leaders Portfolio(PIE Quote), took a hit by following the Dorsey Wright Emerging Markets Technical Leaders Index to a loss of 62.76% in 2008.

Contributors include minus 84.2% from Yingli Green Energy(YGE Quote), minus 52.8% from Gerdau SA(GGB Quote) and minus 51.3% from Unibanco -- Uniao de Bancos Brasileiros SA(UBB Quote).

The fund is allocated to 29% China, 14.6% Mexico, 12.8% Indonesia, 10% Malaysia and 8.3% Brazil equities.

Research Methodology

TheStreet.com Ratings condenses the available fund performance and risk data into a single composite opinion of each fund's risk-adjusted performance. This allows the unbiased identification of those funds that have historically done well or underperformed the market.

While there is no guarantee of future performance, these investment ratings provide a solid framework for making informed, timely investment decisions. The funds listed below have reached their one-year anniversary.

New Coverage of Exchange Traded Funds Fund (Ticker) Initial Rating Inception Objective Total Return 1 Year Market Vectors - LB AMT-Free Intermediate Municipal ETF (ITM) A+ 12/4/2007 Municipal - National -1.16% iShares JPMorgan USD Emerging Markets Bond Fund (EMB) C+ 12/17/2007 Emerging Market Income -2.14% Vanguard Extended Duration Treasury ETF (EDV) C+ 12/6/2007 Government Bond 54.51% iShares MSCI Japan Small Cap Index Fund (SCJ) C- 12/20/2007 Non-US Equity -18.99% Vanguard Mega Cap 300 Value ETF (MGV) D 12/17/2007 Equity Income -35.64% iShares S&P Global Infrastructure Index Fund (IGF) D 12/10/2007 Global Equity -38.96% Vanguard Mega Cap 300 ETF (MGC) D 12/17/2007 Equity Income -36.07% PowerShares S&P 500 BuyWrite Portfolio (PBP) D- 12/20/2007 Equity Income -29.33% iShares MSCI Kokusai Index Fund (TOK) D- 12/10/2007 Global Equity -40.29% Vanguard Mega Cap 300 Growth ETF (MGK) D- 12/17/2007 Growth - Domestic -36.25% iShares MSCI EAFE Small Cap Index Fund (SCZ) D- 12/10/2007 Non-US Equity -48.55% PowerShares DWA Developed Markets Technical Leaders Portfolio (PIZ) E+ 12/28/2007 Non-US Equity -45.68% Claymore/AlphaShares China Real Estate ETF (TAO) E+ 12/18/2007 Growth & Income -55.46% PowerShares DWA Emerging Markets Technical Leaders Portfolio (PIE) E- 12/28/2007 Emerging Market Equity -62.76% PowerShares FTSE RAFI International Real Estate Portfolio (PRY) E- 12/28/2007 Growth & Income -54.85% Source: Bloomberg & TheStreet.com Ratings

Funds rated A or B are considered buys based on a track record of higher-than-average risk-adjusted performance. Funds at the C level are rated as hold, while underperformers at the D and E levels are sell.

For more information, check out an explanation of our ratings.