Wednesday's ETF Winners & Losers

Several interest rate-sensitive exchange-traded funds were rallying Wednesday, one day after the Federal Reserve cut rates by a surprising 50 basis points.

Among bundled securities tracking real estate, the First Trust S&P REIT (FRI Quote) ETF jumped $1.10, or 6.2%, to $18.88. The Ultra Real Estate ProShares (URE Quote) was up $2.10, or 4.5%, to $49.30. The iShares Dow Jones U.S. Real Estate (IYR Quote) rose $1.86, or 2.4%, to $78.11.

Bundled securities tracking basic materials were also among the best performers, thanks to gains by Alcoa (AA Quote), Freeport McMoRan (FCX Quote), Monsanto (MON Quote) and Nucor (NUE Quote).

The Ultra Basic Materials ProShares (UYM Quote) was up $4.22, or 4.6%, to $95.21. The Vanguard Materials (VAW Quote) ETF rose $1.89, or 2.2%, to $87.19. The PowerShares FTSE RAFI Basic Materials (PRFM Quote) ETF was adding $1.48, or 2.3%, to $67.37. The Materials Select Sector SPDR (XLB Quote) was higher by 78 cents, or 1.9%, to $42.08.

Financial ETFs, which slumped due to liquidity problems and tightening credit markets, rallied thanks to the interest rate cut. Embattled finance concerns, including Countrywide (CFC Quote), were on the rise Wednesday.

The Ultra Financials ProShares (UYG Quote) gained $1.21, or 2.1%, to $60.21. The Financial Select Sector SPDR (XLF Quote) was up 44 cents, or 1.3%, to $35.37. The Vanguard Financials (VFH Quote) ETF was advancing by 59 cents, or 1 %, to $62.71. The iShares Dow Jones U.S. Financial Sector (IYF Quote) was adding $1.14, or 1%, to $112.80.

Home construction-related ETFs were also gaining ground. D.R. Horton (DHI Quote), Lennar (LEN Quote), Centex (CTX Quote) and Beazer Homes (BZH Quote) were all jumping by 3.5% or more.

The iShares Dow Jones U.S. Home Construction (ITB Quote) was up 69 cents, or 2.8%, to $24.62. The SPDR S&P Homebuilders (XHB Quote) was climbing 53 cents, or 2.1%, to $25.38.

Once again, the United States Natural Gas (UNG Quote) was the worst decliner of the session as natural gas futures fell 31 cents to $6.26 per million British thermal units. The ETF was lower by $1.26, or 3.2%, to $38.68.