"It's a common assumption that the average individual investor has zero allocation to commodities, " says Matthew Carvalho, director of investment research at Loring Ward, a financial-advisory firm in San Jose, Calif.

WSJ: The Intelligent Investor: Why Your Stocks Are Acting Like Commodities

These funds establish a broad allocation to a wide range of assets that include stocks and bonds (both domestic and international), commodities, real estate and other investments.

FORBES: Taking A Smoother Ride In An ETF That Makes Market Timing Calls