5 New ETFs With Laser-Focus (MOAT, QLTA, EELV)

Over time, the exchange-traded products industry has continually brought new products to market that have increasingly narrow exposures. Call them niche funds, call them too narrow, but whatever one's opinion is, there's no getting around the fact niche funds are a last frontier of sorts for ETF issuers. That's not surprising given that the market for ETFs tracking the S&P 500 or another benign investment concept such as large-cap value funds is essentially saturated at this point. The technology sector is a case study in this trend. In 2011 alone, new ETFs focusing on smartphones, cloud computing and social media came to market, indicating that gone are the days that all tech ETFs must be dominated by the likes of Apple

, IBM

and Microsoft

. While the technology group may be particularly heavy on niche ETFs, the trend has reached to all corners of the ETF arena, providing investors with more narrowly-focused ETF options than ever. Here are some of 2012's more compelling new introductions on the niche product front.

FRAK isn't your run-of-the-mill energy ETF, so those looking for another version of an old standby like the Energy Select Sector SPDR

should look elsewhere. FRAK and XLE do share some holdings in common, Occidental Petroleum

being one prime example, but FRAK differentiates itself by focusing on a specific niche of the energy exploration business: Onshore activity at oil sands and shale plays. FRAK

given that the fund is also home to major gas producers such as EOG Resources

and Devon Energy

. Energy stocks have been beaten up lately, and that's putting it mildly, but FRAK might be worth a nibble as long as support at $20 holds.

Investors have plenty of options when it comes to bond ETFs. There also hasn't been a shortage of funds offering exposure to corporate debt or emerging markets sovereigns, however, emerging markets corporate bonds hadn't been deemed worthy of their own ETF until March when EMCB debuted. EMCB has a 30-day SEC yield of 4.85% and more than two-thirds of its holdings are rated either BBB or A. The idea of an emerging markets corporate bond ETF may have been overdue because soon after EMCB debuted, the iShares Emerging Markets Corporate Bond Fund

came to market.

Speaking of corporate bond funds with a niche flavor to them, we present the iShares Aaa - A Rated Corporate Bond Fund. QLTA, which debuted in mid-February, does exactly what its name implies: Tracks corporate bonds rated AAA down to A. Conservative investors will like that and they'll also like the monthly dividend and the meager 0.15% expense ratio.

High and low beta and volatility ETFs have been a favorite outlet for fund sponsors to create new narrowly-focused funds and it's not surprising that theme has reached into the emerging markets universe. EELV has a