Part II: Top 20 ETFs Under $20

In the second part of our four-part series, Benzinga continues its look at the top-20 ETFs currently trading under $20. As a reminder, ETFs can make the list by a combination of factors, including their volatility that can be useful to short-term traders and their potential to eventually cross the $20 barrier. No preference is given to asset class, issuer, sector, etc.

1) PowerShares Financial Preferred Portfolio (NYSE: PGF): PGF isn't too volatile and asking for a move to $20 and beyond in the near-term would be asking for a mighty percentage gain that isn't likely to materialize due to the pressure on bank stocks, both U.S. and European. Still, PGF is a sound option for taking some of the beta out of a portfolio and its hard to ignore a 12-month yield of 7.16%. One quibble with PGF and that is significant exposure to preferred issues from European banks.

2) PowerShares Dynamic Food & Beverage Portfolio (NYSE: PBJ): Get while the getting is good on PBJ, which only languishes below $20 by a matter of pennies. PBJ has pulled back almost solely due to the debt-ceiling debate, not due to fundamental concerns regarding the ETF's constituents. Along those lines, PowerShares rebalanced this ETF recently, meaning Mead Johnson (NYSE: MJN), Hershey (NYSE: HSY), Coca-Cola (NYSE: KO) and General Mills (NYSE: GIS) are among the names that will drive PBJ's performance going forward. Above $20.50, PBJ is in rally mode.

3) PowerShares DWA Emerging Markets Technical Leaders Portfolio (NYSE: PIE): PIE is a unique play on the multi-country emerging markets ETF concept and deserves consideration because it is a far different animal than the Vanguard MSCI Emerging Markets ETF (NYSE: VWO) and related fare. The fund does an admirable job of mixing large, mid and small-cap growth and value names together and PIE represents an alternative to the multi-country EM ETFs that focus so heavily on the BRIC countries. Malaysia, South Korea, Mexico and Indonesia combine for about 69% of PIE's country allocation.

4) Direxion Daily Real Estate 3X Bear Shares (NYSE: DRV): This one is strictly for the traders among us. As is the case with all leveraged ETFs, DRV should not be turned into an investment, but as a day or swing-trade, this ETF packs the necessary punch to make a short tryst here very rewarding. DRV can easily move 5% or in a single day and 10% (or higher) moves in one week aren't uncommon with this ETF.

5) iShares MSCI Malaysia Index Fund (NYSE: EWM): EWM has suffered at the hands of the debt ceiling debate and that's no surprise. It's a condition that has plagued many emerging markets ETFs. Now EWM is flirting with support at $15. Assuming $15 holds, that's an attractive entry point to get involved. Malaysia has been one of the better EM inflation fighters over the past year, inflation has been on the rise there, so don't rule out interest rate hikes later this year. GDP growth is projected at 5.5% this year and EWM above $15.50 is a breakout.