Dion's Weekly ETF Winners and Losers

ETFs designed to track the real estate industry dominated the ETF winners this week. The biggest gainers were two homebuilder funds.
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NEW YORK (TheStreet) -- It was a wild week for earnings, with Apple (AAPL) - Get Report bucking the trend of big postreport losses in the technology sector, and Schlumberger (SLB) - Get Report lifting the oil drillers at the end of the week. The euro fell for most of the week and Greek bond yields soared until Greece asked for EU and IMF aid on Friday. Positive housing data in the U.S. lifted domestic shares on Friday and capped off a positive week for the broader markets.

Winners

SPDR S&P Homebuilders ETF (XHB) - Get Report +10.1%

The real estate industry did well this week, and ETFs designed to track it dominated the ETF winners. The biggest gainers were two homebuilder funds, the

SPDR S&P Homebuilders ETF

(XHB) - Get Report

and the

iShares S&P Home Construction Index Fund

(ITB) - Get Report

.

Companies leading these two funds over their REIT-focused peers include

USG

(USG)

, up more than 20%;

Pulte Group

(PHM) - Get Report

, up nearly 20%; and

D.R. Horton

(DHI) - Get Report

, up nearly 15%.

iShares Dow Jones U.S. Oil Equipment Index Fund (IEZ) - Get Report +8.8%

Although oil prices saw a dip this week, energy producers and IEZ managed to pull out gains thanks to a better-than-expected natural gas storage report and strong earnings reports.

Schlumberger, which accounts for 21% of IEZ's index, gained nearly 11% this week after reporting its first-quarter earnings. In the report, the company provided an upbeat forecast despite seeing a nearly 30% drop in profits during the previous three-month period.

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Investors looking to play energy should keep an eye on the earnings calendar next week as

Exxon Mobil

(XOM) - Get Report

,

Chevron

(CVX) - Get Report

and other majors are scheduled to unveil their first-quarter results.

SPDR KBW Bank ETF (KBE) - Get Report +5.4%

This week, Obama offered harsh words for Wall Street in hopes of spurring support for the debated financial reform bill while

Goldman Sachs

(GS) - Get Report

continued to battle Washington's fraud allegations. However, despite the chips stacked against them, the broad financial industry managed to pull out some impressive gains this week.

KBE, which tracks a collection of regional banks and banking goliaths scored big while the

iShares Dow Jones U.S. Regional Banking Index Fund

(IAT) - Get Report

, which tracks purely regional banks, ranked just below it.

Moving forward, with the going looking rough for the Wall Street kings, investors should stick to regionals. Throughout Washington's assault these firms have managed to stay off the radar and score nice gains. I expect this trend to continue.

Losers

iShares MSCI Spain Index Fund (EWP) - Get Report -3.9%

Confusion regarding the Greece bailout continues to weigh on Europe, and on the performance of ETFs designed to track the region and its individual nations.

This week, Spain was the single biggest loser of the group, breaking below its 50-day moving average which had been an area of support since the start of April.

The European region may have further to fall next week as they continue to work out the Greece situation. This issue isn't going away any time soon.

First Trust NYSE Amex Biotechnology Index Fund (FBT) - Get Report -2.6%

Biotech ETFs staged a small comeback on Friday. Unfortunately for FBT, it was too little too late.

The three companies pulling FBT lower were

Gilead

(GILD) - Get Report

,

Human Genome Sciences

(HGSI)

and

Affymetrix

(AFFX)

. Together, these three firms account for nearly 14% of the fund.

Although this week's dip is off-putting, the biotech industry is inherently volatile. Next week, these firms could see strength and power to the top of the winners. Therefore, FBT and its peers should not be discounted.

Claymore/AlphaShares China Real Estate ETF (TAO) - Get Report -3.0%

China is taking tough steps to cool its overheating real estate industry. As the government flexes its regulatory muscles, TAO will continue to feel the heat.

TAO has been falling since the start of April. This week's dip brings the fund below both its 50- and 200-day moving averages.

-- Written by Don Dion in Williamstown, Mass.

Don Dion is president and founder of

Dion Money Management

, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Mass., Dion Money Management manages assets for clients in 49 states and 11 countries. Dion is a licensed attorney in Massachusetts and Maine and has more than 25 years' experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

Dion also is publisher of the Fidelity Independent Adviser family of newsletters, which provides to a broad range of investors his commentary on the financial markets, with a specific emphasis on mutual funds and exchange-traded funds. With more than 100,000 subscribers in the U.S. and 29 other countries, Fidelity Independent Adviser publishes six monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.