Was reading a bit about the concept behind them on Marketwatch.com, basically will be ETFs with two specific features: leverage, plus bull/bear friendly ETFs. The former aspect (the article called it double beta) is interesting, since it would provide an investment vehicle that is safer (less volatile) than trading index futures, but would provide more action than, say, QQQQs. The other really interesting aspect is that four of the funds are bull-oriented, other four are bear-oriented, apparently this will work out in a manner that you could go long the bear-oriented ETF and see capital gains if the market were to decrease. I'm intrigued to see exactly how the bear ETFs will be structured in order to pull this off... The combination of leverage and the ability to be long or short the market while technically only being long would be very interesting from the perspective of a self-directed retirement account.