Exchange-traded funds related to financials were the worst performers of a losing week as credit concerns continued to swirl in the aftermath of a rate cut by the

Federal Reserve


The central bank cut the fed funds rate by 25-basis points on Wednesday, but the move did little to calm fears over exposure to the subprime mortgage mess.


(C) - Get Report


Bear Stearns

( BSC),

Morgan Stanley

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Washington Mutual

(WM) - Get Report

fell more than 9% on the week.

Additionally, shares of

Merrill Lynch

( MER) dropped nearly 13% over the five sessions following the departure of embattled CEO Stan O'Neal.


Ultra Financial ProShares

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ETF tumbled 10.6% to $48.98. The

KBW Bank

(KBE) - Get Report

ETF fell 6.1% to $47.91. The

iShares Dow Jones U.S. Broker-Dealers

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ETF was lower by 3.6% to $51.97.

ETFs tracking homebuilders were among the biggest decliners as they were also dragged lower by the credit fears.


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Beazer Homes

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all lost 8% or more.

For the week, the

iShares Dow Jones U.S. Home Construction

(ITB) - Get Report

ETF sank 8.5% to $19.68. The

SPDR S&P Homebuilders

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ETF shed 8.4% to $20.96.

On the other hand, energy-related ETFs were among winners as crude set multiple records during the week. Crude ultimately added 4.4% over the five sessions to close at $95.93.


PowerShares DB Oil

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ETF rose 4.7% to $34.44. The

iPath S&P GSCI Crude Oil Index

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ETF finished up 4.6% to $55.07. The

United States Oil

(USO) - Get Report

added 4.5% to $74.35.

Chip stocks also finished the week higher as tech shares were unaffected by the subprime woes.


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Advanced Micro Devices

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(ALTR) - Get Report

were all better by 2.2% or more.


Ultra Semiconductor ProShares

(USD) - Get Report

ETF rose 3.7% to $82.20. The

Semiconductor HOLDRs

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gained 1.4% to $34.25. The

iShares S&P GSTI Semiconductor


ETF added 1.3% to $64.02.