This Week's ETF Winners & Losers

Financial funds were crushed.

Author:: Robert Holmes
Publish date:: Nov 9, 2007 4:29 PM EST

Financial-related exchange-traded funds were among the worst performers of a horrid week on Wall Street following more fears about the credit crisis, new writedowns and another CEO ouster.

Embattled

Citigroup

chief Chuck Prince resigned over the weekend, but the news was overshadowed by the banking giant's forecast for writedowns of between $8 billion and $11 billion from the shrinking value of its subprime-related investments. Shares of Citigroup dropped 12.3% on the week.

Similarly,

Wachovia

(WB) - Get Report

said Friday that it expects to record a $1.1 billion writedown in debt obligations for October alone because of the recent subprime mortgages and credit mess. Wachovia tumbled 5.1% over the five sessions.

Several other lenders fell hard during the week.

Washington Mutual

(WM) - Get Report

sank 13.9%,

Barclays

(BCS) - Get Report

dropped 11.1%,

Morgan Stanley

(MS) - Get Report

lost 8%,

Merrill Lynch

(MER)

ended down 7%, and

Bear Stearns

(BSC)

shed 5.1%.

The

Ultra Financial ProShares

(UYG) - Get Report

ETF tumbled 7.8% to $45.35. The

iShares Dow Jones U.S. Broker-Dealers

(IAI) - Get Report

ETF was lower by 5.3% to $49.27. The

KBW Bank

(KBE) - Get Report

ETF fell 3.3% to $46.32.

Elsewhere, a 12.1% drop in shares of

Cisco

(CSCO) - Get Report

during the week sank Internet and technology ETFs. Cisco said it had a fiscal first-quarter profit that topped estimates by a penny. However, the tech behemoth soured sentiment after saying it is feeling the effects of the credit crunch.

Several other tech leaders, who had enjoyed a run-up in recent months, stumbled during the week.

Research in Motion

(RIMM)

Google

(GOOG) - Get Report

Oracle

(ORCL) - Get Report

and

Apple

(AAPL) - Get Report

lost 6.6% or more.

The

Ultra Technology ProShares

(ROM) - Get Report

ETF plunged 16.4% to $80.14. The

Internet Architecture HOLDRs

(IAH)

shed 10.9% to $49.66. The

iShares S&P GSTI Networking

(IGN) - Get Report

ETF lost 7% to $34.84. The

First Trust Dow Jones Internet Index

(FDN) - Get Report

slid 6.5% to $25.59.

Bundled securities tracking the retail sector were also losers for the week, following disappointing same-store sales results on Thursday. Most notably affected were apparel retailers, as

Nordstrom

(JWN) - Get Report

Limited

(LTD)

Gap

(GPS) - Get Report

and

Chico's FAS

(CHS) - Get Report

all reported monthly losses and missed consensus targets.

The

SPDR S&P Retail

(XRT) - Get Report

ETF ended down 5% to $34.69. The

PowerShares Dynamic Retail

(PMR) - Get Report

ETF eased 4.9% to $16.05. The

Retail HOLDRs

(RTH) - Get Report

fell 4.9% to $91.46.

On the other hand, Treasury-related ETFs were among few gainers as investors pulled out of equities money into bonds. On Friday, the 10-year note rose 16/32 in price, yielding 4.22%, compared to a yield of 4.30% a week ago.

The

SPDR Barclays Capital TIPS

(IPE)

ETF rose 1.4% to $50.88. The

iShares Lehman 10-20 Year Treasury Bond

(TLH) - Get Report

ETF gained 0.6% to $103.56. The

SPDR Lehman Long Term Treasury

(TLO)

ETF added 0.3% to $52.64.