Date updated:09-24-2009
RealMoney's Don Dion lists the 10 most-dangerous ETFs for the buy-and-hold investor. "As ETF assets continue to grow, issuers are forging into increasingly unfamiliar territory. While these ETFs have unprecedented themes, they also can have unprecedented risks." Read more here and here.

-
UNG
Us Nat Gas Fd Etf - $8.99
- +0.56%
- $8.81
1. "UNG's complex underlying strategy has been made riskier by regulatory uncertainty." Read more here.

-
DTO
Powershares Db Cr - $66.72
- +1.43%
- $67.87
2. "Since DTO is both leveraged and futures-based, this fund faces double the regulatory uncertainty in the months ahead." Read more here.

-
FAS
Financial Bull 3x - $75.026
- -1.50%
- $74.31
3. (with FAZ) "While sophisticated traders may find these funds effective daily hedges for more complex strategies, they can be devastating to buy-and-hold investors who don't understand their objectives." Read more here.

-
FAZ
Financial Bear 3x - $19.99
- +1.78%
- $20.15
3. (with FAS) "While sophisticated traders may find these funds effective daily hedges for more complex strategies, they can be devastating to buy-and-hold investors who don't understand their objectives." Read more here.

-
DBV
Powershares Db G1 - $23.35
- -0.43%
- $23.30
4. "When the trends that propel funds like DBV reverse, they can quickly erase gains that have taken months to accumulate." Read more here.

-
UMM
Macroshs Housing - $22.66
- -1.00%
- $22.65
5. (with DMM) "Since UMM and DMM are tied financially, a creation in one of these funds will spark a creation in the other. Investors can get burned when fund managers take money from one pocket and put it in the other." Read more here.

-
DMM
Macroshs Housing - $26.38
- -0.17%
- $26.23
5. (with UMM) "Since UMM and DMM are tied financially, a creation in one of these funds will spark a creation in the other. Investors can get burned when fund managers take money from one pocket and put it in the other." Read more here.

-
VAZ
Del Inv Ariz Muni - $11.42
- +0.09%
- $11.44
6. (with VXX) "These ETFs track market volatility through the use of derivatives, and their complex strategies make them appropriate for only the most sophisticated investors." Read more here.
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