This Week's ETF Winners & Losers

Funds tracking the financial sector are drubbed.
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Exchange-traded funds tracking the financial sector were among the worst performers of a down week following dreary earnings reports from several brokers.

For the week, the

Ultra Financial ProShares

(UYG) - Get Report

ETF slumped 14.4% to $31.26. The

iShares Dow Jones U.S. Broker-Dealers

(IAI) - Get Report

ETF was lower by 8.4% to $43.24. The

Financial Select Sector SPDR

(XLF) - Get Report

ETF lost 7.3% to $27.46.

The group was a drag on the market for much of the week. On Tuesday,

Citigroup

(C) - Get Report

posted a greater-than-expected quarterly loss that came after the company recorded a pretax writedown of $18.1 billion because of the mortgage mess.

The following day,

JPMorgan

(JPM) - Get Report

said its fourth-quarter profit fell 34% from a year ago amid a $1.3 billion writedown tied to subprime mortgage losses. Then on Thursday,

Merrill Lynch

(MER)

reported a fourth-quarter loss of almost $10 billion and a writedown $14.6 billion.

Insurers also suffered a costly week. Bond insurers

MBIA

(MBI) - Get Report

and

Ambac

(ABK)

lost significant ground as ratings agencies zeroed in on their triple-A ratings.

AIG

(AIG) - Get Report

,

Allianz SE

(AZ)

, and

AXA

(AXA)

also finished lower for the week due to fears of the subprime crisis crippling counterparty insurers.

The

iShares Dow Jones U.S. Insurance

(IAK) - Get Report

ETF dropped 9% to $43.95. The

KBW Insurance

(KIE) - Get Report

ETF lost 8.3% to $47.06. The

PowerShares Dynamic Insurance

(PIC) - Get Report

ETF fell 6.8% to $15.52.

Energy-related ETFs also fell for the week as crude finished with a 2.3% decline over the five sessions at $90.57. Among individual names,

Exxon Mobil

(XOM) - Get Report

,

ConocoPhillips

(COP) - Get Report

,

Valero

(VLO) - Get Report

,

Halliburton

(HAL) - Get Report

and

Transocean

(RIG) - Get Report

finished the week in the red.

The

iPath S&P GSCI Crude Oil Index

(OIL) - Get Report

shed 2.6% to $52.68. The

PowerShares DB Oil

(DBO) - Get Report

lost 2.5% to $32.65. The

United States Oil

(USO) - Get Report

declined 2.5% to $71.27.

Surprisingly, homebuilders were among few winners for the week, as

D.R. Horton

(DHI) - Get Report

,

Hovnanian

(HOV) - Get Report

,

Toll Brothers

(TOL) - Get Report

and

Pulte Homes

(PHM) - Get Report

rose.

The

SPDR S&P Homebuilders

(XHB) - Get Report

ETF added 2.9% to $17.14. The

iShares Dow Jones U.S. Home Construction

(ITB) - Get Report

ETF tacked on 2.6% to $14.83.