Markets like these are enough to drive most investors to drink. That's what a new fund is hoping, anyway.

The Vice Fund, the latest brainchild of mutual fund broker Mutuals.com, invests in a wide swath of "sin" stocks. After all, the theory goes, such stocks are recession-proof -- no matter how bad the economy gets, people will always drink, smoke, gamble and well, you get the idea.

The fund will focus primarily on four areas: alcohol, tobacco, gambling, and aerospace and defense, according to portfolio co-manager Dan Ahrens. At least 90% of the fund's assets will be invested in these four areas.