A new generation of exchange-traded funds (ETFs) is emerging, with some equities previously removed from the S&P 500 or Russell 1000 now being included in these new ETFs. Analysts describe some of these funds as 'financial turduckens,' suggesting they are created more out of possibility than wisdom. The US market remains dominant, making up 70% of global ETFs. Additionally, the trend of single-stock ETFs is expanding globally, allowing US traders to bet on overseas companies without worrying about currency risk. Investors now have access to a variety of new ETFs, including several with covered call strategies.