This Week's ETF Winners & Losers: Energy Sapped - TheStreet

This Week's ETF Winners & Losers: Energy Sapped

Exchange-traded funds tracking energy suffer despite crude-oil's tremendous week. Financial-space ETFs also take a hit, but gold-related funds gain ground.
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Exchange-traded funds tracking energy were among the decliners this week despite an extraordinarily strong week for crude-oil futures.

Crude prices gathered an enormous amount of upward momentum this week and, in quick succession, smashed past the $130 and the $135 marks before easing to a 4.6% surge at $132.19 a barrel. Amid those moves, however, oil-and-gas giants

Exxon Mobil

(XOM) - Get Report

and

ConocoPhillips

(COP) - Get Report

each lost ground for the week as investors ended the week with profit-taking.

The

Oil Service HOLDRs

(OIH) - Get Report

ETF was off 3.2% for the week,

Energy Select Sector SPDR

(XLE) - Get Report

sank 3%, and

iShares Dow Jones U.S. Energy Sector

(IYE) - Get Report

gave up 2%.

At the same time, concerns over rising fuel prices stuck it to transportation stocks, and the

iShares Dow Jones Transportation Average

(IYT) - Get Report

surrendered 4.2% over the past five sessions.

The

SPDR S&P Homebuilders

(XHB) - Get Report

fund, meanwhile, plummeted 12.1% over the past week. Friday saw miserable existing-home sales data come to light, with the National Association of Realtors saying the housing backlog is at a 23-year high. Also, on Thursday, the Office of Federal Housing Administration said home prices suffered their worst quarterly drop on record last quarter, according to its purchase-only house-price index.

Financial-space ETFs were also particularly hard hit in a week that saw Oppenheimer analyst Meredith Whitney predict that banks will take writedowns of at least another $170 billion by the end of next year, and that the effects of the credit crisis could linger even past 2009. Also earlier this week,

The Wall Street Journal

said that some banks' hedging strategies -- betting against funds tracking real estate and leveraged loans, for instance -- have backfired amid recovering U.S. shares this quarter.

The paper cited

Lehman Brothers

(LEH)

and

Morgan Stanley

(MS) - Get Report

as among those hurt by that tactic. Shares of the firms plunged 17.3% and 11.4%, respectively.

The

Financial Select Sector SPDR

(XLF) - Get Report

lost 6.7% since Monday;

Ultra Financials ProShares

(UYG) - Get Report

tumbled 10.9%;

Vanguard Financials ETF

(VFH) - Get Report

shed 5.3%; and

iShares Dow Jones U.S. Financial

(IYF) - Get Report

was off 5.5%.

Among suffering individual names,

Dow

financial components

Citigroup

(C) - Get Report

,

Bank of America

(BAC) - Get Report

, and

JPMorgan Chase

(JPM) - Get Report

, slid at least 6.2% apiece.

On the lonely upside were gold-related ETFs, which gained ground for the week as futures on the metal glided higher by nearly 3% on a weakening U.S. dollar. The

iShares COMEX Gold Trust

(IAU) - Get Report

and the

SPDR Gold Trust

(GLD) - Get Report

have risen 2.4% over the past five sessions, and

Market Vectors Gold Miners ETF

(GDX) - Get Report

is better by 0.9%.