MarketWatch's Chuck Jaffe writes "New exchange-traded bond fund doesn't fail ... to disappoint". Jaffe beats up on the new Bear Stearns Current Yield Fund ETF (YYY), saying, "The trouble is, there's not a lot of value that an active manager can add to short-term bond funds and money market funds. In fact, studies have shown that the biggest determining factor between the top funds and the laggards has much less to do with the assets they choose than with the costs associated with the fund."

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