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 - Cramer on FRI - Stock Picks) ETF jumped $1.10, or 6.2%, to $18.88. The Ultra Real Estate ProShares (URE Quote - Cramer on URE - Stock Picks) was up $2.10, or 4.5%, to $49.30. The iShares Dow Jones U.S. Real Estate (IYR Quote - Cramer on IYR - Stock Picks) 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 - Cramer on AA - Stock Picks), Freeport McMoRan (FCX Quote - Cramer on FCX - Stock Picks), Monsanto (MON Quote - Cramer on MON - Stock Picks) and Nucor (NUE Quote - Cramer on NUE - Stock Picks).

The Ultra Basic Materials ProShares (UYM Quote - Cramer on UYM - Stock Picks) was up $4.22, or 4.6%, to $95.21. The Vanguard Materials (VAW Quote - Cramer on VAW - Stock Picks) ETF rose $1.89, or 2.2%, to $87.19. The PowerShares FTSE RAFI Basic Materials (PRFM Quote - Cramer on PRFM - Stock Picks) ETF was adding $1.48, or 2.3%, to $67.37. The Materials Select Sector SPDR (XLB Quote - Cramer on XLB - Stock Picks) 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 - Cramer on CFC - Stock Picks), were on the rise Wednesday.

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

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

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

Once again, the United States Natural Gas (UNG Quote - Cramer on UNG - Stock Picks) 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.