China ETFs Lead Week's Biggest Losers

NEW YORK (TheStreet) -- Five funds that invest in Chinese companies had the biggest losses this week among portfolios that target specific regions.

The 200% leveraged ProShares Ultra FTSE/Xinhua China 25(XPP Quote) exchanged traded fund was the worst performer of the week that ended Thursday, losing 11%. Three other ETFs and one mutual fund lost as much as 6%.

Among major Chinese stocks, Huaneng Power International(HNP Quote) fell 10%, hurt by weak domestic electricity demand and acquisitions that expanded capacity without immediately boosting the company's earnings. The company refinanced $2.3 billion of debt this week. China Coal Energy(CCOZY Quote) sank 8.8% after coal supplies were forecast to rise in October.

Luck ran out for investors in the second-worst performer, the New Ireland Fund(IRL Quote), which fell 7.5%. Retails sales in Ireland fell 15% in July from a year ago, while producer prices for August declined 2.1%.

Worst Performing Geographically Focused Funds for the Week Ending Thursday Sept. 24 Fund (Ticker) Rating Objective 1 Wk Totl Return ProShares Ultra FTSE/Xinhua China 25 (XPP) U China -10.74% New Ireland Fund Inc/The (IRL) E Geo Focused -7.45% iShares MSCI Mexico Investable Market Index Fund (EWW) C Mexico -6.69% ProFunds Ultra China ProFund (UGPIX) U China -6.03% Mexico Fund Inc/The (MXF) D Mexico -5.98% iShares FTSE/Xinhua China 25 Index Fund (FXI) C- China -5.42% Morgan Stanley China A Share Fund Inc (CAF) C China -5.15% iShares FTSE China HK Listed Index Fund (FCHI) B+ China -5.01% iShares MSCI South Africa Index Fund (EZA) C- Geo Focused -4.94% ProShares Ultra MSCI Emerging Markets (EET) U Emerging Mkt -4.90% Source: Bloomberg & TheStreet.com Ratings

The top geographically focused fund for the week bet against Mexican stocks with 200% leverage. The three-month-old ProShares UltraShort MSCI Mexico Investable Market Fund(SMK Quote) rose 15%. Large holding Cemex SAB de CV(CX Quote) declined 8.1% in advance of a dilutive share offering.

Mexican President Felipe Calderon proposed adding a 4% tax on phone service, Internet access, mining sales and other products. The plan helped drag Grupo Carso(GPOVY Quote) shares down 12%, America Movil(AMX Quote) shares down 9.1%, and Telefonos de Mexico(TMX Quote) stock down 8.7%.

Best Performing Geographically Focused Funds for the Week Ending Thursday Sept. 24 Fund (Ticker) Rating Objective 1 Wk Totl Return ProShares UltraShort MSCI Mexico Investable Market (SMK) U Mexico 14.77% ProShares UltraShort FTSE/Xinhua China 25 (FXP) E- China 11.05% Global X/InterBolsa FSTE Colombia 20 ETF (GXG) U Geo Focused 6.06% Profunds Ultra Short China ProFund (UHPIX) U China 5.79% Parr USX China Fund (HPCHX) C China 5.42% ProShares UltraShort MSCI Europe (EPV) U European 4.68% ProShares UltraShort MSCI Emerging Markets (EEV) E- Emerging Mkt 4.63% Thai Fund Inc/The (TTF) C Thailand 2.59% ProShares Short MSCI Emerging Markets (EUM) E+ Emerging Mkt 2.36% iShares MSCI Thailand Index Fund (THD) B Thailand 2.33% Source: Bloomberg & TheStreet.com Ratings

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-- Reported by Kevin Baker in Jupiter, Fla.