Hi Satbir Re ETFs
First forget about using tools to pick the ETFs you want to own.
1)Decide if you want to invest by style or industry (you already did that)
2)How much do you have to start with? With traditional AIM you don't want to start with less than $15,000 per fund ($10,000 stock and $5,000 cash) to avoid tiny trades. That will limit the # of funds. (you can use time to diversify, one new fund every two years)
3)Once you know how many funds you can afford decide which industries. (check out www.ishares.com)
4)Start with the industries that have done the worst over the last two years. In other words stay away from OIL, Mining, Construction, Banking, REITS etc for now.
Toofuzzy