There continues to be no seeming limit as to what ETF providers can come up with as investment ideas. MyShares, a New Jersey-based ETF provider, has filed with the SEC for a Walmart ETF. The fund will track WalMart's suppliers.

In the same filing MyShares also applied for exemptions for its Homebuilders Index Fund, SINdex Fund and Homeland Security Index Fund. If you guessed that the SINdex fund is a vice-focused fund, you would be right.

In recent months there has been industry speculation that ETF launches have gotten more and more outlandish with each new product, usually a sign that a trendy product has reached a peak. These fund are still in registration, so it's anybody's guess as to how they will play in the market.  

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