This Week's ETF Winners & Losers

Financial-related funds are punished.
Publish date:

As the three major U.S. averages dropped more than 1.6% for the week, nearly every exchange-traded fund was lower over the five sessions.



were hit hard. On Wednesday,

Bear Stearns


fell 2.5% amid worries about two of its hedge funds, reigniting fears about the effects of the subprime fallout.


Ultra Financials ProShares

(UYG) - Get Report

ETF ended down 5.5% to $66.55. Additionally, the

iShares Dow Jones Broker-Dealers

(IAI) - Get Report

was lower by 3.4% to $55.89.

Housing-related ETFs were among the worst performers of the week. On Tuesday, a government report said U.S. housing starts fell a greater-than-expected 2.1% in May to 1.47 million annualized units. On average, economists were looking for new construction to total 1.48 million units.

For the week, the

SPDR Homebuilders

(XHB) - Get Report

ETF shed 4.2% to $31.72. The

iShares Dow Jones U.S. Home Construction

(ITB) - Get Report

ETF fell 4% to finish at $32.90.

Several biotech-related bundled securities also declined. On Monday, shares of

Encysive Pharmaceuticals


plunged 43.4% after the Food and Drug Administration refused to approve the company's treatment for pulmonary arterial hypertension, Thelin.


SPDR S&P Biotech

(XBI) - Get Report

ETF was lower by 5.2% to $50.60. The

PowerShares Dynamic Biotech & Genome

(PBE) - Get Report

ETF was down 4.2% to $18.24. The

iShares Nasdaq Biotechnology

(IBB) - Get Report

lost 3.9% to $78.10.

Securities tracking energy exploration were also among the decliners, even after the front-month crude contract jumped amid labor strikes in Nigeria. Crude oil finished the week with a gain of nearly 1% at $69.41 a barrel.


Ultra Oil & Gas ProShares

(DIG) - Get Report

eased 3.9% to $99.12. The

SPDR S&P Oil & Gas Exploration & Production

(XOP) - Get Report

ETF fell 2% to $47.63, and the

PowerShares Dynamic Energy Exploration

(PXE) - Get Report

ETF lost 1.3% to $23.53.