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Tuesday's ETF Winners & Losers

Exchange-traded funds tracking homebuilders and REITs were falling hard Tuesday, as traders continued to fret about the health of credit markets.

Among REIT-related ETFs, the iShares FTSE NAREIT Mortgage REITs (REM) was dropping $2.13, or 7.1%, to $27.73. The Ultra Real Estate ProShares (URE) gave back $2.38, or 5.6%, to $39.97. The iShares FTSE NAREIT Residential (REZ) was tumbling $1.31, or 2.9%, to $44.24.

Homebuilders were feeling the crunch as well. Beazer Homes (BZH) gave back 9% after Fitch Ratings downgraded its debt again. Meanwhile, Centex (CTX), Hovnanian (HOV) and Meritage Homes (MTH) were losing 3% or more.

The iShares Dow Jones U.S. Home Construction (ITB) was shedding 76 cents, or 3%, to $25.01. The SPDR S&P Homebuilders (XHB) was lower by 63 cents, or 2.4%, to $25.27.

Retail-related ETFs were also suffering following disappointing news out of the world's largest retailer, Wal-Mart (WMT), and Home Depot (HD).

Excluding items, Wal-Mart said it had earnings of 76 cents a share, matching the Thomson Financial estimate, but the company guided lower for the third quarter and full year. Meanwhile, Home Depot beat estimates by a nickel, but the home improvement retailer said that housing markets should remain soft into 2008.

The Retail HOLDRs (RTH) was shedding $2.60, or 2.6%, to $97.15. The SPDR S&P Retail (XRT) was down 94 cents, or 2.4%, to $38.10. The PowerShares FTSE RAFI Consumer Services (PRFS) was losing $1.15, or 2.2%, to $51.90.

There were few winners during Tuesday's session outside of the biotechnology arena. Earlier, Biogen Idec (BIIB) said it had positive phase II clinical trial data for its congestive heart failure treatment drug, Adentri.

The First Trust Amex Biotechnology Index (FBT) ETF was adding 24 cents, or 1%, to $23.95. The Biotech HOLDRs (BBH) was higher by $1.55, or 1%, to $163.75.

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SYM TRADE IT LAST %CHG
XHB $34.92 -0.98%
REM $11.54 -1.30%
REZ $58.34 -2.30%
XRT $97.29 -1.30%
BBH $126.35 -2.10%

Markets

DOW 17,933.50 -136.90 -0.76%
S&P 500 2,094.76 -19.73 -0.93%
NASDAQ 4,946.6310 -70.2980 -1.40%

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