The sentiment behind the iShares Human Rights Index Fund that went into registration at the Securities and Exchange Commission last week looks like it might be another example of an interesting idea not equaling a good fund, according to an article on Market Watch.

The ETF’s MSCI indexing methodology will exclude countries and companies that violate human rights. However, that leaves the fund with 8,900 stocks in 42 countries, as opposed to the MSCI All-Country index’s 9,000 stocks and 45 counties, reports Chuck Jaffe, contributor of the Market Watch article.

Jaffe argued that the loss of 3 percent of securities and exclusion of three nations isn’t likely to entice the audience the fund seeks. Without assets, the ETF may end up shuttering, just as funds with catchy but suspect strategies have in the past, Jaffe said, citing funds such as StockCar Stocks Index Fund.

Head over to MarketWatch.com for Jaffe’s full perspective.