TheStreet.com Ratings: Week's Best, Worst Health/Biotech Funds

In a landslide election, U.S. voters handed control of both houses of Congress to the Democratic Party. Overall, Wall Street cheered the move, banking on gridlock in Washington to restrain government spending in the absence of any other fiscal discipline.

But the political shift did put health care stocks and the mutual funds that hold them into play. For the most part, the movements of these funds were negative, as investors worried that the Democrats' early agenda would include scrutiny of big pharma's drugs that are still under patent.

The health care and biotech sector funds we rate lost an average of 1.21% for the five trading days ended Thursday, Nov. 9.

There were also some positive stories, however. Democrats tend to be pro-science. That means additional money may now be spent on stem cell science and other less controversial research.

Amazing breakthroughs are possible with the right funding. Just this week, a study showed that some vision could be restored to blind mice by implanting cells that restore degenerated rods.

The best performer for the five trading days ended Thursday was the Integrity Health Sciences Fund (IHLAX Quote), which gained 2.44%. Its top holdings -- Amgen(AMGN Quote), Merck (MRK Quote) and Caremark Rx(CMX Quote) -- fell 2.35%, 5.55% and 1.24%, respectively.

But these declines were offset by gains in other holdings, such as Boston Scientific(BSX Quote), which edged up 0.3%, and Kos Pharmaceuticals (KOSP Quote), which leapt 54.3% after agreeing to be acquired by Abbott Laboratories (ABT Quote).