Energy Funds' Losses Accelerate

The third-worst-performing fund last week was the Market Vectors-Coal ETF(KOL Quote), shedding 38.55% on declines of 54.10% in Patriot Coal(PCX Quote), 51.82% in Walter Industries(WLT Quote), and 51.77% in International Coal Group(ICO Quote). The spot price for low sulfur, Big Sandy Barge coal is down to $77.5 per short ton, or 41.9% off its June 2008 high.

Worst Performing Energy Funds for the Week Ending Thursday Nov. 20 Fund Ticker Rating Fund Type 1 Week Total Return Direxionshares Energy Bull 3X Shares ERX U ETF -49.37% Profunds Oil Equiptment Dist & Svcs UltraSector ProFund OEPIX U Open-End -38.85% Market Vectors-Coal ETF KOL U ETF -38.55% ProFunds Basic Materials UltraSector ProFund BMPIX E- Open-End -38.01% Claymore/MAC Global Solar Energy Index ETF TAN U ETF -37.92% Kayne Anderson Energy Development Co KED E- Closed-End -37.21% ProShares Ultra Oil & Gas DIG D- ETF -34.73% Tortoise Energy Capital Corp TYY C Closed-End -32.70% Rydex 2X S&P Select Sector Energy ETF REA U ETF -32.57% iShares S&P Global Clean Energy Index Fund ICLN U ETF -32.11% Source: Bloomberg & TheStreet.com Ratings

Four inverse funds were the only gainers last week, with the 300% inverse leveraged Direxionshares Energy Bear 3X Shares(ERY Quote) skyrocketing 68.40% over the five trading days. At 200% negative leverage were the Rydex Inverse 2X S&P Select Energy ETF(REC Quote), up 42.06%, and the UltraShort Oil & Gas ProShares(DUG Quote), up 41.10%. Industry leaders ExxonMobil(XOM Quote), off 9.15%; Chevron(CVX Quote), down 14.18%; and Schlumberger(SLB Quote), off 23.40%; assisted the appreciation in these funds.

Best Performing Energy Funds for the Week Ending Thursday Nov. 20 Fund Ticker Rating Fund Type 1 Week Total Return Direxionshares Energy Bear 3X Shares ERY U ETF 68.40% Rydex Inverse 2X S&P Select Sector Energy ETF REC U ETF 42.06% ProShares UltraShort Oil & Gas DUG B- ETF 41.10% ProFunds Short Oil & Gas ProFund SNPIX C+ Open-End 19.67% ProShares Short Oil & Gas DDG U ETF 17.26% iPath DJ-AIG Natural Gas Total Return Sub-Index ETN GAZ E+ ETF -2.82% United States Natural Gas Fund LP UNG E+ ETF -3.56% iPath DJ-AIG Energy Total Return Sub-Index ETN JJE E ETF -8.93% Petroleum & Resources Corp PEO C+ Closed-End -9.58% iShares S&P Global Nuclear Energy Index Fund NUCL U ETF -10.17% Source: Bloomberg & TheStreet.com Ratings

Parking lots full of unsold, imported automobiles are filling up at the port of Long Beach, California, while Honda(HMC Quote) cuts U.K. auto production. Last week, General Motors(GM Quote) and Ford(F Quote) got rebuffed from Congress after asking for a bailout. Don't look for a quick rebound for motor fuel demand.

The silver lining is that these lower energy costs should be helpful in reducing the pocketbook stress on American consumers as we work our way though this economic trough.

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