Worst ETFs of the Third Quarter

The third quarter of 2008 was a tough investing time period across the board, but the TheStreet.com Ratings' list of the quarter's worst exchange-traded funds reveals some of the hardest-hit sectors.

Competition for World's Worst ETF was fierce with the slaughter on the markets, but our winners all came from the energy and commodities sector that in the beginning of 2008 were the darlings of the investment world.

The worst-performer for the quarter ended Sept. 30 was the First Trust ISE-Revere Natural Gas (FCG Quote), which lost 41.18% during that three-month time frame. But investors in any of these other five funds also have good reason to cry.

Worst ETFs of the Third Quarter
Fund Name	Ticker	Current Grade	Previous Grade	Three-Month Return	Category
First Trust ISE-Revere Natural Gas	FCG	E+	C-	-41.18	Equity Income
iPath S&P GSCI Total Return Idx ETN	GSP	E+	C-	-35.88	Growth - Domestic
GS Cnct S&P GSCI Enh Cmd TR Str Idx	GSC	E+	C-	-34.57	Growth - Domestic
PowerShares DB Commodity Idx Track	DBC	C-	A+	-34.21	Growth - Domestic
PowerShares DB Agriculture Fund	DBA	D+	B	-33.1	Equity Income
Market Vectors Global Alt Energy	GEX	E-	D+	-27.32	Sector - Energy/Natural Res
Source: TheStreet.com Ratings