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5 Funds That Should Fly on QE3

Utilities, financials and commodities among areas to target

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Last week, the Federal Reserve launched the third round of quantitative easing, which will involve at least $40 billion in monthly purchases of mortgage-backed bonds.

The hope: to help spur economic activity and cure America’s unemployment ills.

But the Fed’s efforts understandably will impact a variety of investments as well across a number of asset classes. But rather than trying to pick and choose the right stocks, a better strategy might be broader plays made through mutual funds and exchange-traded funds.

Here are five to consider:

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