The initial public offering (IPO) of two new real estate-focused exchange traded funds (ETFs) is taking place as you read this. But the reaction by investment professionals to these funds has been mixed.Some financial advisors are actually wary of the new ETFs that came to market. However, they do give easy access to residential real estate, without owning nay property. MacroShares are ETFs that are issued in pairs, and the ETFs allow investors play the upside of residential housing, as well as downside, reports David Hoffman for Investment News.

Many insiders feel the ETFs are just too complicated for regular investors. MacroShares Metro Major Housing Up (UMM) and MacroShares Metro Major Housing Down (DMM) are  a constant shifting of assets back and forth between the two in an attempt to mimic the percentage changes in an underlying benchmark.

These ETFs might fare well, simply because of demand for this type of fund. There are few alternatives for investors who want exposure to the residential housing market. Up until this point, ETF investors had real estate investment trusts (REITs), which are mostly commercial, or homebuilders, which don’t give perfect exposure.

Tags: DMM, ETF Trends in the Press, New ETFs, Real Estate, UMM