A new Schwab study finds that advisers are more optimistic about stock ETFs, particularly tech, energy and financials.

In a new survey of independent advisers, Schwab has found that the single most popular type of fund most advisers are considering buying in the next six months are exchange-traded funds.

To those of you who read IndexUniverse.com on a regular basis, that’s probably not too surprising. But consider that Schwab operates the single largest independent network of fee-based fund advisers in the world.

And as an independent discount broker with the biggest third-party marketplace, Schwab’s take on the market through the eyes of advisers is perhaps one of the most illuminating reports in the industry.

As its latest survey reveals, advisers say they’re planning on increasingly looking at ETFs as well as commodities as their top investment vehicles in the next six months.

While 39 percent of advisers will increase their investments in ETFs in that time frame, (up from 35 percent a year ago), another 22 percent say they’ll also be considering buying commodity funds of various types. (That’s a big jump from a year ago when some 8 percent showed interest in that asset class.)

Coming in third place among picks were high-yield bonds through various stripes of funds. The survey found that 15 percent of advisers like those going forward (a drop from 24 percent a year ago).

Another area of interest is the U.S. small-cap equities market as investors continue to move away from cash and fixed income.

Advisers remain particularly bullish about the six-month outlook for the S&P 500—their most optimistic view in two years, according to Schwab. Some 72 percent of advisers surveyed expect a rise in the index’s performance in the next six months.

The sectors they are particularly optimistic about include: information technology, energy and financial. At the same time, the report found advisers signaling a sharp shift away from health care and consumer staples.

Overall, most advisers seem to be looking for the economic recession to be over in the next 12 months. On the other hand, the majority of them also look for unemployment to rise and many continue to express concern about their own markets.

More than a quarter of advisers surveyed are looking for an increase in interest rates in the next six months, while most are expecting increased consumer spending, as well as consumer savings.

You can read the actual report here.

Cinthia Murphy is associate editor at IndexUniverse.com. She welcomes comments and suggestions for future blogs at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .