Even when you don't wish to understand the wines themselves, you do have to have an understanding of how the companies that enable you to buy into fine wine operate.
Which investment funds option is better for yourself depends for a large part on how much guidance and advise you need. The very first 2 options mean that you pay a substantial management fee and you'll most likely also pay a overall performance based charge, but you will be taken by the hand. In exchange you receive the expertise that will hopefully result in a great return on your investment. The very best funds and much less so the brokers possess the expertise to potentially make your portfolio do much better than when bought yourself or when bought based on advise of wine merchants. At the same time, particularly the wine funds would be the most traditional and also conservative in their pick of wines. A disadvantage from the funds is you don't know nor have a say in which wines they purchase. And therefore you're also unable to judge whether you pay a fair price for these wines.
Exactly what many people forget is the fact that these fees are not the only costs you accumulate. The wine also needs to be bought and sold. You have to be confident that your supplier/partner (let's call them partner from here on) will be able to purchase and sell at competitive costs. You want to pay as close to market prices as you can and, upon selling, your partner will be able to do this at the highest price achievable.
This is when a bit of research is necessary. Most of the newly established wine beverage brokers won't be able to purchase for the best prices. A few of the bigger and older wine investments will, although the established wine merchants will score better on this. After all, this is their business - they buy and sell every day and have the network needed to do this competitively.