Shorts, Commodities Lift These ETFs to Top

The top 10 ETFs for the quarter were dominated by funds that employed short strategies and funds invested in natural gas and copper.

While the broad market fell, these funds were able to post very solid returns ranging from 21% to 34% for the three months ended March 31.

Short strategy funds were able to capture returns across the spectrum of industries and sectors. This shows that the U.S. economy is experiencing a broad-based slowdown. Sectors and industries varied from semiconductors/technology, health care, small-cap and midcap stocks.

On the international front, shorting the Chinese market via the ProShares UltraShort FTSE/Xinhua China(FXP) fund capitalized on the recent cooling of that economy's runaway growth rate.

The profitable long positions were exposed to natural gas and copper.

Natural Gas looks like an opportunity going forward if investors want to play the energy market.

FUND_NAME	TICKER	TSCR Grade	Category	1 Month Return	3 Month Return
ProShares Ultra Short Semiconductors	SSG	A	Equity Income	-4.35	34.77
United States Natural Gas Fund	UNG	U	Energy/Natural Res	6.41	33.79
ProShares Ultra Short Technology	REW	C-	Growth - Domestic	-0.26	33.51
iPath Dow Jones-AIG Natural Gas Total Return	GAZ	U	Energy/Natural Res	6.82	33.20
ProShares Ultra Short QQQ	QID	C+	Growth - Domestic	-5.10	31.57
ProShares Ultra Short Health Care	RXD	C	Health/Biotechnology	8.51	27.02
ProShares Ultra Short Russell 2000 Growth	SKK	A+	Growth - Domestic	-1.59	26.20
iPath Dow Jones-AIG Copper Total Return	JJC	U	Energy/Natural Res	-0.53	25.65
ProShares Ultra Short Russell Mid Cap Growth	SDK	A+	Growth - Domestic	3.02	24.10
ProShares UltraShort FTSE/Xinhua China 25	FXP	U	Non-US Equity	4.40	21.55

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