Are ‘Pure-Play’ ETFs a Shrewd Investment – Or a Risk Not Worth Taking?

They're called "pure-play" exchange-traded funds (ETFs). And they're the latest rage in the ETF sector. But are they too much of a risk? According to Dictionary.com , a mutual fund is an investment company "that gives small investors access to a well-diversified portfolio of equities, bonds and other securities," professionally managed to "match the objective stated in the (fund's) prospectus."