This Week's ETF Winners & Losers

Exchange-traded funds tracking gold reaped rich gains this week as the dollar weakened even further against the euro and the yen.

During a week in which gold futures went past the $1,000 mark for the first time ever, the Market Vectors Gold Miners ETF (GDX Quote) jumped 5.2%, and the iShares COMEX Gold Trust (IAU Quote) fund added 3.1%. streetTRACKS Gold Shares (GLD Quote) rose 3.4%.

ETFs tracking Treasury bonds likewise benefited from traders' fears as more evidence piled up that the economy is unraveling. In addition to the softening greenback was a blow from Bear Stearns (BSC Quote), which revealed that it has severe liquidity problems, prompting many to wonder what further woes may emerge from financials.

Furthermore, a Wall Street Journal economist survey published Thursday found most respondents saying the U.S. is already in a recession. A Federal Reserve move on Tuesday to pump $200 billion of liquidity into the market by exchanging cash for banks' illiquid assets for 28-day periods sent bond prices tumbling that day, but prices quickly rebounded to end sharply higher for the week.

The iShares Lehman 20+ Year Treasury Bond (TLT Quote) fund climbed 3% for the week, and the iShares Lehman 10-20 Year Treasury Bond (TLH Quote) ETF advanced 1.9%.

Bundled securities tracking energy and oil also did well as crude prices reached new record highs every trading session this week.

The PowerShares DB Oil (DBO Quote), the Ultra Oil & Gas ProShares (DIG Quote), and the United States Oil (USO Quote) fund tacked on 3.3% or more.

On the losing side this week were health stocks, after WellPoint (WLP Quote) and Humana (HUM Quote) each offered downbeat profit forecasts. Also, Aetna (AET Quote) affirmed its targets, but they were below consensus expectations.

Since Monday, the Health Care Select SPDR (XLV Quote) lost 3.3%, and the Ultra Health Care ProShares (RXL Quote) gave back 5.2%.

Among sinking financial ETFs this week were the iShares Dow Jones U.S. Broker-Dealers (IAI Quote) and the Financial Select Sector SPDR (XLF Quote), which were lower by 4.3% and 1.6%, respectively, for the week.