Even though 2010 is nearing its conclusion, ETF fund providers aren’t slowing down. Instead, they’re gearing up for the new year with more exchange traded fund product launches.

Here’s a snapshot of new ETF and ETN launches:

Direxion Airline Shares (NYSE: FLYX): FLYX is linked to the NYSE Arca Airline Index which tracks U.S. and international passenger airline listed on developed and emerging global market exchanges. As of September 30, 2010 the market capitalizations of stocks included in the Index range from approximately $600 million to approximately $9 billion. FLYX currently owns 13 stocks and the fund’s annual expense ratio is 0.55%.The fund was launched on December 8th.

Direxion also unveiled two leveraged long and short ETFs on gold mining stocks. The Daily Gold Miners Bull 2x Shares ETF (NYSE: NUGT) attempts double the daily performance of gold miners while the Daily Gold Miners Bear 2x Shares ETF (NYSE: DUST) aims for double daily inverse or short performance to the same group. Both funds have an annual net expense ratio of 0.95%.

ProShares RAFI Long/Short (NYSE: RALS): The RALS exchange traded fund is designed to follow the RAFI US Equity Long/Short Index. The RAFI approach uses fundamental measures of company size—sales, dividends, cash flow and book value— instead of security price in selecting and weighting securities. The new ETF takes long positions in companies with large RAFI weights relative to their capitalization weights and short positions in companies with small RAFI weights relative to their capitalization weights. By allocating an equal dollar amount to its long and short positions, the Index is designed to generate an absolute return over a full market cycle. The fund’s annual expense ratio is 0.95% and it debuted on December 2.

RBS US Large Cap Trendpilot ETN (NYSE: TRND): TRND is a new exchange-traded note or ETN that follows a strategy index called the RBS US Large Cap Trendpilot Index which tries to time the market. It’s designed to provide exposure to the S&P 500 Total Return Index in uptrending markets whereas in downtrending markets it switches to cash. The note has a variable expense ratio which charges 1% when it’s fully invested in the market and 0.50% when it goes into cash. The Royal Bank of Scotland is the ETN’s issuer. December 7th was TRND’s first day of trading.

Rydex Equal Weight ETFs: Rydex added six ETFs that equally weight their respective holdings. The addition of these six new ETFs brings Rydex’s total number of exchange traded products to 34, with assets over $6 billion. The new Rydex ETFs have annual expense ratios between 0.40% and 0.70%.

• Rydex Russell 1000 Equal Weight ETF (NYSE: EWRI)
• Rydex Russell 2000 Equal Weight ETF (NYSE: EWRS)
• Rydex Russell Midcap Equal Weight ETF (NYSE: EWRM)
• Rydex MSCI EAFE Equal Weight ETF (NYSE: EWEF)
• Rydex MSCI Emerging Markets Equal Weight ETF (NYSE: EWEM)

This article was written by  ETFguide.com. ETFguide is the information leader on exchange-traded funds because of its vendor-neutral approach and its progressive reporting style. Unique features include an ETF bookstore, a monthly e-mail newsletter and subscription-based ETF portfolios.