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April, 2011 http://www.etfchannel.com

Best ETFs For The Buck

Each month, ETF Channel sorts through more than 800 ETFs to find the leader in 12 categories with regard to the average expense ratio and average trailing twelve month return; the list of ETFs below highlight the funds from these categories with the largest TTM gain paired with the lowest expense ratio.

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According to the National Stock Exchange, in 2010, ETF industry assets have increased approximately 28% since December 2009 and for the full year of 2010, net cash inflows to ETFs totaled $119 billion. It is fair to say that ETFs are now on many investors’ radar screens and learning more about these instruments is becoming increasingly important. Two factors to consider while researching ETFs are the fund’s expense ratio, and their track record. Because an ETF’s expense ratio determines how much is subtracted from an ETF’s assets each year, it is important to keep an eye on this number. If presented with two ETFs with identical holdings, and one ETF has an expense ratio of 0.25% while the other is 0.5%, investors would naturally gravitate toward the 0.25% to juice their returns. Additionally, within each category, there are many ETFs, and some are very similar to each other. An example would be iShares Gold Trust (IAU) versus SPDR Gold Shares (GLD). While they are not perfectly identical, they are very similar. GLD returned 29.27% in 2010 and IAU returned 29.42% over the same period. GLD has an expense ratio of 0.40%, while IAU is 0.25%. The difference in the return between IAU and GLD is 0.15%, the exact difference between the expense ratios (0.40% vs 0.25%). So, the investor who picked the ETF with the lowest expense ratio would have come out ahead.

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TABLE OF CONTENTS ASIA: iShares MSCI Singapore Index Fund CURRENCIES: WisdomTree Dreyfus Brazilian Real Fund EMERGING MARKETS: iShares MSCI Indonesia Investable Market Index Fund ENERGY: iShares DJ US Oil Equipment & Services Fund EUROPE: iShares FTSE EPRA/NAREIT Developed Europe Fund FINANCIAL: SPDR KBW Insurance ETF HEALTH: S&P SmallCap Health Care Portfolio INCOME: WisdomTree Dividend ex-Financials Fund INDUSTRIAL: Vanguard Materials ETF METALS: ETFS Physical Silver Shares REAL ESTATE: iShares Cohen & Steer Majors Realty Fund TECHNOLOGY: Semiconductor HOLDRS

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Category Asia # of ETFs in Category 34

ETF iShares MSCI Singapore Index Fund Symbol EWS

Average Expense Ratio In Category 0.57%

Expense Ratio 0.53% Average TTM Return In Category +9.53%

Return (TTM) +17.65% The iShares MSCI Singapore Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Singapore market, as measured by the MSCI Singapore Index. 46.62% of this ETF’s holdings are in Financials, followed by 25.62% in Industrials, 10.84% in Telecommunications, 9.59% in Consumer Discretionary, with the remainder in other sectors. Total net assets for the ETF are approximately $1.8 billion. The 12-month yield as of 2/28/11 was 3.25%.

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Category Currencies # of ETFs in Category 19

ETF WisdomTree Dreyfus Brazilian Real Fund

Symbol BZF

Average Expense Ratio In Category 0.45%

Expense Ratio 0.45% Average TTM Return In Category +6.39%

Return (TTM) +16.81%

The Wisdom Tree Dreyfus Brazilian Real Fund is designed to track the price of the Brazilian Real net of Trust expenses, which are expected to be paid from interest earned on the deposited Brazilian Reals. Total net assets for the ETF are $156,630,940.

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Category Emerging Markets # of ETFs in Category 24

ETF iShares MSCI Indonesia Investable Market Index Fund

Symbol EIDO

Average Expense Ratio In Category 0.65%

Expense Ratio 0.61% Average TTM Return In Category +14.93%

Return (TTM) +36.72%

The iShares MSCI Indonesia Investable Market Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Indonesia Investable Market Index. The underlying index is designed to measure the performance of the top 99%, by market capitalization, of equities listed on stock exchanges in Indonesia. The ETF has total net assets of $201,921,576 and a 12 month yield of 0.55% as of 2/28/11. Top industries held: 30.03% Financials, 14.63% Energy, 13.47% Consumer Discretionary, 11.58% Consumer Staples, 10.00% Telecom.

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Category Energy # of ETFs in Category 27

ETF iShares DJ US Oil Equipment & Services Fund

Symbol IEZ

Average Expense Ratio In Category 0.51%

Expense Ratio 0.47% Average TTM Return In Category +37.09%

Return (TTM) +53.69%

The iShares DJ US Oil Equipment & Services Fund is based on the Dow Jones United States Select Oil Equipment & Services Index, which is designed to measure the overall performance of common stocks of oil equipment and services companies (those principally engaged in the business of drilling, logistics, exploration and other providers of services to oil fields and platforms). This ETF has total net assets of $681.7 million.

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Category Europe # of ETFs in Category 26

ETF iShares FTSE EPRA/NAREIT Developed Europe Index Fund

Symbol IFEU

Average Expense Ratio In Category 0.50%

Expense Ratio 0.48% Average TTM Return In Category +13.21%

Return (TTM) +15.25%

The iShares FTSE EPRA/NAREIT Developed Europe Index Fund seeks to track the performance of the FTSE European Public Real Estate Association / National Association of Real Estate Investment Trusts Developed Europe Index. The underlying index gauges the performance of companies that develop and/or own European real estate.

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Category Financial # of ETFs in Category 24

ETF SPDR KBW Insurance ETF

Symbol KIE

Average Expense Ratio In Category 0.43%

Expense Ratio 0.35% Average TTM Return In Category +4.43%

Return (TTM) +8.49%

The SPDR KBW Insurance ETF, seeks to closely match the returns and characteristics (before expenses) of the KBW Insurance Index. The ETF has net assets of $206.09 million and a dividend yield of 1.78%. Approximately 35% of the ETF is in Life & Health Insurance, 32% in Property and Casualty Insurance, 11% in Multi-Line Insurance and 9.5% in Insurance Brokers.

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Category Health # of ETFs in Category 23

ETF S&P SmallCap Health Care Portfolio

Symbol PSCH

Average Expense Ratio In Category 0.43%

Expense Ratio 0.29% Average TTM Return In Category +7.83%

Return (TTM) +24.10%

The PowerShares S&P SmallCap Health Care Portfolio is based on the S&P SmallCap 600 Capped Health Care Index, which is designed to measure the overall performance of common stocks in the health care sector. Included are healthcare companies principally engaged in the business of providing healthcare-related products and services, including biotechnology, pharmaceuticals, medical technology and supplies, and facilities. This ETF has total net assets of $131.5 million and 73 holdings.

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Category Income # of ETFs in Category 21

ETF WisdomTree Dividend ex-Financials Fund

Symbol DTN

Average Expense Ratio In Category 0.43%

Expense Ratio 0.38% Average TTM Return In Category +14.27%

Return (TTM) +20.56%

WisdomTree Dividend ex-Financials Fund seeks investment results that closely correspond to the price and yield performance of the WisdomTree Dividend ex-Financials Index, which is comprised of large- and mid-capitalization companies listed on major US exchanges. The ETF has total net assets of $340.9 million , a distribution yield of 3.77%, and top industries held are: 16.2% in Utilities, 14.11% in Consumer Staples, and 10.83% in Industrials.

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Category Industrial # of ETFs in Category 22

ETF Vanguard Materials ETF

Symbol VAW

Average Expense Ratio In Category 0.44%

Expense Ratio 0.24% Average TTM Return In Category +21.23%

Return (TTM) +22.75%

This ETF Seeks to track the performance of a benchmark index that measures the investment return of stocks in the materials sector. The ETF includes stocks of companies that extract or process raw materials. Total net assets are $741.1 million. Top industries held are: 21.9% in Diversified Chemicals, 12.5% in Specialty Chemicals, and 10.9% in Fertilizers & Agricultural Chemicals.

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Category Metals # of ETFs in Category 20

ETF ETFS Physical Silver Shares

Symbol SIVR

Average Expense Ratio In Category 0.60%

Expense Ratio 0.30% Average TTM Return In Category +39.31%

Return (TTM) +112.99%

ETFS Physical Silver Shares is designed to offer investors a simple way to access the precious metals market. SIVR is intended to provide investors with a return equivalent to movements in the silver spot price less fees.

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Category Real Estate # of ETFs in Category 21

ETF iShares Cohen & Steers Realty Majors Fund

Symbol ICF

Average Expense Ratio In Category 0.46%

Expense Ratio 0.13% Average TTM Return In Category +14.62%

Return (TTM) +20.48%

The iShares Cohen & Steers Realty Majors Index Fund corresponds generally to the price and yield performance, before fees and expenses, of large, actively traded United States REITs, as represented by the Cohen & Steers Realty Majors Index.

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Category Technology # of ETFs in Category 42

ETF Semiconductor HOLDRs

Symbol SMH

Average Expense Ratio In Category 0.42%

Expense Ratio 0.24% Average TTM Return In Category +23.54%

Return (TTM) +25.59%

This concentrated ETF has eighteen holdings from the Semiconductor Sector, with top holdings of Texas Instruments (TXN), Intel (INTC) and Applied Materials (AMAT).