Then there is the Value Line. The ETF (new as of Feb 07) will track an index of the 100 stocks ranked #1 by
Value Line for timeliness and reconstituted monthly. The old FVL fund tracked the VL100 stocks in real time as they were updated every week. This lead to ~400% turnover/year and short term capital gains distributions. The new ETF should be much more tax efficient. The new ETF is still called FVL.
To protect value line's intellectual property, the new ETF is designed to not track the VL100 index exactly, as a paid member would get in weekly updates by the Value Line service. Still, the new First Trust Value Line 100 ETF is supposed to track the famous VL100 index more closely than the current Powershares ValueLine Timeliness Select Portfolio (PIV) does.
However, PIV looks better than FVL. But my portfolio looks a lot better than either.
-JD