The charm of any index fund or ETF is that it offers instant diversification for a low minimum investment. ETFs also allow you to invest in areas such as sectors or foreign markets where you don't have any expertise. Someone who didn't want to make a lot of investment decisions but wanted more tax efficiency than even an index fund could have an entire portfolio of ETFs. It's not a matter of owning too many ETFs or too few. They're simply another approach to investing you'll want to consider when planning your investment strategy.
Today there is a wide range of ETFs.
The trust was introduced in 1993. First available in 1998, this security owns all 30 stocks in the Dow. That means it owns most of the leading technology companies. Select Sector SPDRs. 29 companies, including Exxon, Chevron and El Paso Energy.