Finding Value (And Bigger Position Size) With Three Energy ETFs

One of the most prominent market themes of 2011 has been the return of $100 oil, a phenomenon that has, for the most part, been quite kind to oil stocks. We'll leave the problems $120 oil will cause for another day because the intent here is to find some vestige of value among energy ETFs. Specifically, we're talking about traditional energy

. ETFs trackin the solar, wind and related alternative energy fare can still be had at very reasonalbe price tags, but oil ETFs have moved up almost in straight line fashion for several months. So with the Energy Select Sector SPDR

trading for almost $80 and the Oil Services HOLDRs

trading for more than twice that, what are investors to do if they're short on capital, but want energy exposure? What about traders that want to build bigger positions in energy ETFs? We've got the answers. 1) PowerShares Dynamic Energy Exploration & Production ETF

: PXE offers exposure to many of the same companies that XLE holds at a third of the price. No, a security's price tag should not be the deciding factor in a decision to buy, but consider this: PXE has outperformed XLE by 5% over the past six months. 2) iShares Dow Jones US Oil Equipment Index Fund

: As PXE is to XLE, IEZ is to OIH. But, and this is an important "but," Transocean

, the world's largest provider of offshore drilling services, factors prominently into OIH's mix. The same cannot be said for IEZ. IEZ trades for $100 less than OIH and has outperformed its pricier rival by almost 10% in the past six months. 3) Global X Oil Equities ETF

: Try to find an oil ETF trading for less than $16. Don't bother. Just have a look at the newly minted XOIL. Want some exposure to high price tag stocks such as Apache

and Devon Energy

without bleeding your brokerage account dry? Give XOIL a look.