iShares Software ( IGV) About the only thing writers, TV gurus and journalists wish to talk about in tech-land these days? Cloud computing. You should pay high double-digit multiples or triple-digit multiples for names such as Salesforce.com ( CRM), Rackspace ( RAX) and VMWare ( VMW). Really?

OK, even I offered a cloud computing, dot-com play with the First Trust Internet Fund ( FDN) back in August. (FDN has rallied 15.6% in just a bit more than a month!) Yet IGV rallied for 11.7% in the same period at a fraction of the risk. Most importantly, it's nearly impossible to dismiss the attractiveness of Microsoft ( MSFT), Oracle ( ORCL) and Intuit ( INTU) with these giants' global footprints.

SPDR Pharmaceuticals ( XPH) It's true that broad-based health care has been abysmal. And even the formerly loved medical devices stocks couldn't shake the health care reform law.

Yet XPH has always been a little unique in its design. By concentrating a max of 5% in one company through equal weighting -- a lawsuit here, a patent expiration there -- they just haven't derailed the need for drugs. What's more, whereas some pharma investments tend to be caught up in distribution and pipelines, XPH has more exposure to actual researchers and developers.

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Disclosure Statement: ETF Expert is a website that makes the world of ETFs easier to understand. Gary Gordon, Pacific Park Financial and/or its clients may hold positions in ETFs, mutual funds and investment assets mentioned. The commentary does not constitute individualized investment advice. The opinions offered are not personalized recommendations to buy, sell or hold securities. At times, issuers of exchange-traded products compensate Pacific Park Financial or its subsidiaries for advertising at the ETF Expert website. ETF Expert content is created independently of any advertising relationships. You may review additional ETF Expert at the site.

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