Wednesday's ETF Winners & Losers

Exchange-traded funds tracking semiconductors were among the worst performers Wednesday, after a bearish analyst report on expected chip prices and Micron Technology's(MU Quote) disappointing quarter.

Micron was sliding nearly 9% after swinging to a fiscal fourth-quarter loss, while Merrill Lynch initiated coverage of Intel(INTC Quote), Advanced Micro Devices(AMD Quote) and Nvidia(NVDA Quote) with underweight ratings.

The Ultra Semiconductor ProShares(USD Quote) was shedding $3.71, or 4.1%, to $87.58. The Semiconductor HOLDRs(SMH Quote) was losing 89 cents, or 2.23, to $38.07. The iShares S&P GSTI Semiconductor(IGW Quote) was off $1.49, or 2.2%, to $67.53.

Funds tracking Chinese markets also were among the losers. Hong Kong's Hang Seng index lost 719.81 points overnight.

The iShares FTSE/Xinhua China 25 Index(FXI Quote) was losing $11.09, or 5.9%, to $178.40. The SPDR S&P China(GXC Quote) was shedding $5.67, or 5.8%, to $92.94. The PowerShares Golden Dragon Halter USX China(PGJ Quote) was off $1.61, or 4.6%, to $33.21.

Funds tracking homebuilders were among the session's few winners, as several holdings continued their run-up a second day. Beazer Homes(BZH Quote), Standard Pacific(SPF Quote) and Brookfield Homes(BHS Quote) were all up more than 3.5%.

The iShares Dow Jones US Home Construction(ITB Quote) was gaining 60 cents, or 2.7%, to $22.46. The iShares FTSE NAREIT Residential(REZ Quote) was adding 79 cents, or 1.7%, to $48.70.

Biotech- and pharmaceutical-related funds also were among the winners. Arena Pharmaceuticals(ARNA Quote), Imclone Systems(IMCL Quote) and Genzyme(GENZ Quote) were all adding more than 3%.

The SPDR S&P Biotech(XBI Quote) was gaining $1.01, or 1.7%, to $59.56. The Ultra Health Care ProShares(RXL Quote) was tacking on 75 cents, or 1%, to $74.70. The Pharmaceutical HOLDRs(PPH Quote) was adding 74 cents, or 0.9%, to $81.82.