ETF'S To Capture Amazon's Move One Way Or The Other (HHH, PNQI, FDN)

Amazon.com

is set to report earnings tonight and if you believe the company will beat earnings, you'd want to be long the company, right? Well that is inherently risky going into earnings so it might be better off to diversify your risk and still capture some of the gains Amazon will have if Wall Street likes the report with these three ETF's. Conversely, if you believe Amazon is likely to miss, these three ETF's will also get hit, but not as hard as Amazon shares, but are cheaper to purchase than a company whose stock is trading around $150 per share. First Trust Dow Jones Internet Index ETF

Amazon among its top 10 holdings, with a weight of 6.79%. It's the highest weight company in the ETF, and should benefit or hurt from Amazon's earnings release. Internet HOLDRs

also boasts Amazon as a top 10 holding, and is extremely overweight Amazon, with it being 28% of the funds. This one could be the one ETF to consider if you really want exposure to Amazon without holding the stock. The last ETF to consider is PowerShares NASDAQ Internet

. These three ETF's count Amazon as among their largest holdings, and could be worth a look long or short depending on your outlook for Amazon. Disclosure: no position in any securities mentioned above