Netflix: No Love From ETFs (NFLX, FDN, SKYY)

Say what you want about Netflix

, but the company sure gets a lot of press. Sometimes it's good, sometimes it's bad. The bottom line is for a company with a $6.2 billion market cap, Netflix is quite popular. Netflix is a lot of things. Cutting-edge tech company to some. A mid-cap growth story that still has legs to others. The list goes on. What Netflix is NOT, contrary to what some

is a big deal among ETFs. It's not and

. Only the First Trust ISE Cloud Computing Index Fund

and the First Trust Dow Jones Internet Index Fund

hold somewhat noteworthy allocations to Netflix and COMBINED these two ETFs offer just 10% exposure to the stock, we reported. That's what we said a couple of weeks ago. Add to the list of "Netflix ETFs" the PowerShares Nasdaq Internet Portfolio

, an ETF that doesn't even trade 20,000 shares per day. Netflix accounts for a staggering 4.33% of that ETF's weight, according to Barron's. With a market cap of just over $6 billion, Netflix would make for an ideal candidate to be more than a bit player in any number of mid-cap ETFs. The SPDR S&P 400 Mid Cap Growth ETF

would appear to be a logical home for Netflix, but even with over 230 stocks, MDYG has no room for Netflix, at least not at the moment. The SPDR Dow Jones Mid Cap ETF

is home to almost 500 stocks. No Netflix. The iShares S&P MidCap 400 Growth Index Fund

has no Netflix. The iShares Morningstar Mid Growth Index Fund

allocates a whopping 0.66% to Netflix. Said differently, Henry Schein

is more important to JKH than Netflix is. And the one ETF where Netflix is sort of a big dea, the First Trust ISE Cloud Computing Index Fund, shares no intimate correlation with the stock at all. Here's a brief list of lower market cap stocks that are arguably just as important, if not more important, among ETFs than Netflix is: Alpha Natural Resources

, Couer D'Alene Mines

, Carbo Ceramics

and Dendreon

. That's just a small list. Some ETFs are excellent ways to get exposure to one or two individual stocks. We've explored

with ETFs and Apple

. The Energy Select Sector SPDR

is a fine replacement for Exxon Mobil

and Chevron

. The iShares MSCI Brazil Index Fund

offers plenty of exposure to Petrobras

and Vale

. Again, just a couple of examples that underscore the reality that Netflix, while a popular stock, is not important in the ETF world. No, ETFs do not "love" Netflix.