Exchange-traded securities that invested in platinum, copper and other precious metals were among the top performers in February.

Each month, TheStreet.com Ratings looks at

exchange-traded funds

that generated the biggest returns. Last month, the

SPDR S&P 500

fund

(SPY) - Get Report

fell 11%, while the Nasdaq 100-tracking

PowerShares QQQ Trust

(QQQQ)

declined 5.3%. Clearly, few stock strategies worked.

Funds that bet

against the market

climbed as much as 62% with the

Direxion Small Cap Bear 3X Shares

(TZA) - Get Report

fund leading the group. Excluding so-called

inverse funds

, the 10 best-performing ETFs from Jan. 30 to Feb. 27 are listed below.

The

B2B Internet HOLDRs Trust

(BHH)

led the bullish funds, returning 17% for the month. This fund has two holdings left:

Ariba

(ARBA)

and

Internet Capital Group

(ICGE)

, accounting for 91% and 9% of assets, respectively. Shares of Ariba, which sells risk-management software to businesses, climbed 15% last month after reporting its third-straight quarterly earnings gain.

Six of the 10 securities listed are "exchange-traded notes," or ETNs. They're similar to ETFs, except they track their underlying indexes without owning the member stocks or commodities.

The best-performing ETN,

ELEMENTS Linked to the MLCX Precious Metals Index

(PMY)

rose 8.7% on gains in precious metals prices. These notes were issued by

Credit Suisse

(CS) - Get Report

, which assumes the risk of the portfolio's value dropping below the index level.

The

E-TRACS UBS Long Platinum ETN

(PTM)

and the

iPath Dow Jones-AIG Platinum Total Return Sub-Index ETN

(PGM) - Get Report

, which follow platinum indexes, returned more than 8%. Platinum rose 8.7% in February to $1,073.50 an ounce.

For an explanation of our ratings, please read this

methodology statement

.

Kevin Baker became the senior financial analyst for TSC Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.