Exchange-traded funds related to financials were among the best performers of a winning week, despite mixed earnings reports from key names in the sector.

On Wednesday, Merrill Lynch ( MER) sank sector ETFs, following its greater-than-expected $7.9 billion writedown due to the credit crisis. The stock, however, rebounded Friday on rumors CEO Stan O'Neal would be forced out of the position.

Countrywide Financial's ( CFC) rosy guidance on Friday also buoyed financial names, helping the stock to finish the week higher.

The Ultra Financial ProShares ( UYG) added 5.2% to $54.79. The iShares Dow Jones U.S. Broker-Dealers ( IAI) was higher by 5.1% to $53.93. The KBW Bank ( KBE) ETF rose 3% to $51.02.

Energy-related ETFs were also among the winners, as crude set multiple records during the week. The December benchmark contract touched a high of $92.22 a barrel on Friday. Crude ultimately added 5.6% over the course of the week to close at $91.86.

The United States Oil ( USO) added 6% to $71.17. The iPath S&P GSCI Crude Oil Index ( OIL) ETF finished up 5.9% to $52.66.

ETFs tracking Internet and software stocks were also higher for the week, following strong reports from Microsoft ( MSFT), Akamai Technologies ( AKAM) and Apple ( AAPL), among others.

The Internet HOLDRs ( HHH) gained 4.3% over the five sessions to $67.28. The First Trust Dow Jones Internet Index ( FDN) added 3.3% to $27.78. The iShares S&P GSTI Software ( IGV) ended up 2.2% to $52.24.

On the other hand, chip-related ETFs were the week's worst decliners, following gloomy earnings releases from Texas Instruments ( TXN), Broadcom ( BRCM), and Altera ( ALTR).

The Ultra Semiconductor ProShares ( USD) ETF slipped 7.2% to $79.24. The Semiconductor HOLDRs ( SMH) ETF slid 5.2% to $33.79. The PowerShares Dynamic Semiconductors ( PSI) ETF was down 2.6% to $17.85.

More from ETFs

60 Seconds: What's the Difference Between an ETF and a Mutual Fund?

60 Seconds: What's the Difference Between an ETF and a Mutual Fund?

Video: Why Shark Tank Star Kevin O'Leary Is Doubling Down on Internet Stocks

Video: Why Shark Tank Star Kevin O'Leary Is Doubling Down on Internet Stocks

Simple Investing Strategies Stand the Test of Time

Simple Investing Strategies Stand the Test of Time

This Technology ETF Could Be Signaling a Looming Tech Stock Rout

This Technology ETF Could Be Signaling a Looming Tech Stock Rout

The End of Retailpocolypse? This Retail ETF Is Soaring

The End of Retailpocolypse? This Retail ETF Is Soaring