Hate Jim Cramer? Love Jim Cramer? There's a New ETF for You

Jim Cramer is the host of CNBC's Mad Money and he loves making stock picks. And in social media, often times he gets ridiculed for some of the picks he makes that don’t pan out. Some people even make a habit of going against his picks and betting that he will be wrong.

Well, that's easier to do now with the launch of a new exchange-traded fund (ETF), the Inverse Cramer Tracker ETF (BATS:SJIM). The ETF is described as being "an actively managed exchange traded fund that attempts to achieve the inverse of Jim Cramer’s recommendations by going short anything he recommends buying and going long anything he doesn’t like."

Unsurprisingly, the actively managed fund requires lots more work than a regular ETF and so its expense ratio is an incredibly high 1.2%. Generally, ETFs have expense ratios of far less than 1% and so investors are paying a bit of a premium here to stay on top of Jim Cramer's picks.

Traders who are fans of Jim Cramer can also bet on his picks, as there's a new Long Cramer Tracker ETF (BATS:LJIM) as well. It has the same expense ratio as the Inverse Cramer ETF.

These funds have launched just this month and are run by Tuttle Capital Management.

For investors, there can be significant risk with these types of ETFs because not only are they expensive, but they will likely be very actively managed and so there can be significant changes on a weekly and monthly basis. And so unless you're following Jim Cramer and his picks, it can be difficult to predict what stocks these ETFs may end up holding.