Updated Friday, August 22, 2014 as of 1:56 AM ET

New Wave of Fixed-Income ETFs Brings Fresh Possibilities for Clients

Nearly every day, I get a notice touting the launch of some new ETF. And at this point, most of them represent some fringe aspect of the investment world. Small-cap stocks from one certain country in the Middle East, say, or a fund from Africa that deals with water infrastructure. Sometimes, they are sliced so thinly that there are just a handful of companies in the underlying index. Useful perhaps, but probably only for a limited audience.

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