5 ETFs for the Summer

NEW YORK (TheStreet) -- The temperature is heating up here in the Berkshires and for many here and across the U.S., this means a time to escape the day to day office life and enjoy some welcomed rest and relaxation.

While many are counting down to the time when they can replace their desk chairs with beach chairs, for others, the introduction of the summer months can present a number of attractive investing opportunities.

Within the ETF universe there are a number of products that may prove exciting to watch over the next few months.

PowerShares Dynamic Leisure & Entertainment Portfolio (PEJ)

Investors can profit as friends and family escape the workplace for the fun in the sun. PEJ is a unique, consumer-focused ETF product designed specifically to track the companies responsible for providing individuals with the food, fun, and entertainment that define summer vacation.

The fund's top holdings include Starbucks (SBUX), Las Vegas Sands (LVS), Carnival (CCL), and Disney (DIS). Despite its niche focus, PEJ's index is relatively well-diversified. The fund's 10 largest positions account for less than half of its index.

iShares Gold Trust (IAU)

As we have seen so far this year, it is difficult to predict when and where the next bout of market turmoil will originate. Given this uncertainty, investors will want to make sure that they maintain a level of defense when it comes to navigating the market the next few months. Gold, bonds, and dividend-paying equities will come in handy when it comes to weathering turmoil.

Another precious metal ETF to keep an eye on will likely be the iShares Silver Trust (SLV). This shiny, industrious metal has run into headwinds since falling from near record highs. In the near future, it will be interesting to see if volatility persists.

iShares MSCI EMU Index Fund (EZU)

The first half of 2011 has been inundated with concerning international stories and events including the bloody political turmoil in the Middle East, and the devastating Pacific earthquake.

Meanwhile, in Europe, ongoing sovereign debt issues have continued to generate headlines and raise investor ire. As vulnerable nations including Spain, Ireland, and Greece work to battle economic headwinds, this region will likely be one to keep an eye on. Risk tolerant investors looking to track the developments in this corner of the developed world will want to keep EZU on the radar.

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