This Week's ETF Winners & Losers
Exchange-traded funds tracking the financial sector were among the biggest winners this week, propelled by the Federal Reserve's decision to cut its overnight lending rate by another quarter-point to 2%.
The Ultra Financials ProShares (UYG) had a particularly good week, surging 5.2% since Monday.
At the same time, the Financial Select Sector SPDR (XLF), the Vanguard Financials ETF (VFH), the iShares Dow Jones U.S. Financial Sector (IYF) fund and the iShares S&P Global Financials (IXG) ETF each added 2.3% or more.
The central bank provided further cushion to financials Friday when it ratcheted up its term auction facility by 50% to $150 billion, meaning banks will have that much more money available for borrowing.Since Monday, two of the Dow's financial components -- Bank of America (BAC) and JPMorgan Chase (JPM) -- added 3.9% and 1.8%, respectively, though Citigroup (C) ticked 0.8% lower, weighed down by this week's news that it would offer $4.5 billion in stock. Suffering the flip-side of the Fed's decision were commodities-related ETFs. Among the worst-performing energy ETFs were Oil Services HOLDRs (OIH), PowerShares Dynamic Oil & Gas Services (PXJ), United States Oil (USO) and iShares Dow Jones U.S. Energy (IYE). All have sunk at least 2.1% apiece over the past five sessions. Those declines came despite climbs at Chevron (CVX) and BP (BP), which both reported higher profits this week on the back of the oil boom, and for the week were up 2.8% and 4.4%, respectively. Exxon Mobil (XOM) was a notable exception, sliding 3.1% since Monday after failing to hit analyst estimates for the first quarter, despite a surging bottom line. As for gold, the Market Vectors Gold Miners ETF (GDX) slid 4.7% for the week, while the iShares COMEX Gold Trust (IAU) and the streetTRACKS Gold Shares (GLD) fund each dropped 3.1%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV