Possibly the most conventional offering on the table, the iShares S&P Global Nuclear Index Fund ( NUCL), contains established stocks such as McDermott International ( MDR), FPL Group ( DPL) and First Energy ( FE).

Philosophically, NUCL is arguably the antithesis of the iShares S&P Global Clean Energy Industry Fund ( ICLN), the major holdings of which include First Solar ( FSLR), energy-from-waste pioneer Covanta Holdings ( CVA) and Sunpower ( SPWRA).

Of the Africa-Middle-East pair of ETFs on the list, the PowerShares MENA Frontier Countries Fund ( PMNA), with large positions in securities such as Arab Bank and Kuwait Finance, is more heavily invested in the oil-rich Persian Gulf than in the emerging African region.

On the other hand, the Market Vectors Africa Index ETF ( AFK) is invested in large African corporations.

Selected New 'Concept' ETFs
Name (Ticker), TheStreet.com Ratings Grade
Inception Date
Advisor
Investment Concept
Oct. Total Return (%)
3-Month Total Return (%)
First Trust ISE Global Wind Energy Index Fund (FAN), U
6/16/2008
First Trust Advisors
ISE Global Wind Energy Index
-45.17
-57.27
iPath Barclays Capital Gl Carbon Idx Tot Retn (GRN), U
6/24/2008
Barclay's Global
Barclays Capital Global Carbon Index Total Return
-18.91
-14.45
iShares S&P Global Nuclear Index Fd (NUCL), U
6/24/2008
Barclay's Global
The S&P Global Nuclear Energy Index
-19.49
-39.86
iShares S&P Global Clean Energy Ind (ICLN), U
6/24/2008
Barclay's Global
S&P Global Clean Energy Index
-39.73
-55.07
PowerShares Global Wind Energy Port (PWND), U
7/1/2008
Invesco PowerShares
NASDAQ OMX Clean Edge Global Wind Energy Index
-38.10
N/A
PowerShares MENA Frontier Countries (PMNA), U
7/9/2008
Invesco PowerShares
Middle East or African & New Frontier Countries
-21.00
N/A
Market Vectors Africa Index ETF (AFK), U
7/10/2008
Van Eck Associates
Dow Jones Africa Titans 50 Index
-26.07
-40.33
S&P 500 Total Return
-16.78
-23.11
Source: TheStreet.com Ratings (Data as of 9/30/2008)
For more information, check out an explanation of our ratings.
Richard Widows is a senior financial analyst for TheStreet.com Ratings. Prior to joining TheStreet.com, Widows was senior product manager for quantitative analytics at Thomson Financial. After receiving an M.B.A. from Santa Clara University in California, his career included development of investment information systems at data firms, including the Lipper division of Reuters. His international experience includes assignments in the U.K. and East Asia.

If you liked this article you might like

ETFs: Survival of the Fittest

ETFs: Survival of the Fittest

Best-Performing ETFs Point Way for Economy

Best-Performing ETFs Point Way for Economy

Alt-Energy ETFs Enjoy Gains in August

Alt-Energy ETFs Enjoy Gains in August

Access Carbon-Trading Market Via This ETN

Access Carbon-Trading Market Via This ETN