ETF's are simply not living up to the promises they deliver.


 They cannot - and do not - compete with ordinary mutual funds.


 One would think a leveraged "double" ETF that is supposedly capitalizing on the precious metals' market, would have catapaulted the average buy and hold investor into the stratosphere where the precious metals market is concerned.


 Think again.


 If, one year ago, you had thrown $10,000 into TD's Precious Metals' mutual fund, you would now have $13,118.56 at your disposal.


 Alternatively, if you had invested that same $10,000 into a double ETF (HGU.TO), you would have $11,082.50.


 A difference of - $2,036.06