10 ETF Ideas for 2010

By Michael Johnston, founder of ETF Database.

NEW YORK (TheStreet) -- Many investors will be sorry to see 2009 end. Following one of the most disruptive years in recent memory in 2008, almost every asset class participated in a stellar recovery this year.

At the depth of the recession, fear trumped reason, and irrational anxieties pushed many assets, including ETFs, well below their intrinsic value.

Much of the final three quarters of the year was spent recouping these losses, much to the delight to those who had the wisdom to identify an exaggerated downward correction and the stomach to stay all in as prices bottomed out.

Now, with 2010 just around the corner, the hard work begins. The low-hanging fruit has been collected, and the road ahead is littered with daunting obstacles, ranging from still-rising unemployment to inflation concerns to international debt crises.

That's not to say that 2010 won't be another stellar year, just that more concrete evidence of a progressing recovery will be needed to push prices higher. "Less bad" news can only be dressed up as signs of improvement for so long.

As we look ahead to 2010, there are a number of bright spots in the ETF industry. Below is a look at 10 funds we think present compelling cases for investment in the new year.