Yes, we are creating so many fancy ETFs, but it seems no one really cares about investor education. Kudos to NYSE!

In a publication expected to be released today, NYSE Group Inc.'s NYSE Regulation unit highlights several questions investors should ask themselves and their brokers before buying an ETF -- a type of mutual fund that trades on an exchange like regular stocks.

The publication, the latest in a series of "Informed Investor" pieces, is an educational effort and wasn't the result of investor complaints or concerns over the way ETFs are sold, says Allison Bishop, head of NYSE Regulation's risk-assessment unit. Rather, the exchange says it decided to address some of the "distinct risks" associated with investing in ETFs given the growth of the market and the fact more individual investors are exposed to ETF investment opportunities. "People are comparing ETFs to mutual funds," she says. "That's why we think it's important for people to understand some of the finer details associated with ETF purchases."

The release of the publication, called "What You Should Know About Exchange Traded Funds," comes at a time when ETFs are soaring in popularity and firms are rolling out more versions. Assets have swelled to about $336.92 billion in July, from $65.6 billion at the end of 2000, according to the Investment Company Institute, a trade group. The number of ETFs has jumped to 268 from 80 over the same period.