(Bloomberg) -- Welcome to the era of ETF mashups, whose issuers act like Dr. Frankenstein and combine popular strategies hoping the result will be greater than the sum of its parts. 

Maybe such creativity is expected when there are more than 1,700 ETFs and basically everything under the sun has already been ETF-ized. The question is: Do mashups offer an exciting new investing opportunity or just create financial mush? Here is a look at a few of the more promising FrankenETFs:

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