Here's a look at my ETF winners and losers for the week.
While Asia was a definite winner this week, Europe saw just the opposite. The lingering financial crisis has hit advanced- and emerging-European markets. On growing concerns that European banks are still suffering from financial problems, the U.K.-focused ETF, EWU, slumped this week. The economic shocks also hit the emerging European ETFs such as GUR. US Natural Gas ( UNG) -3.96% First Trust Natural Gas ( FCG) (FCG) -4.19% iPath Natural Gas Total Return ( GAZ) -3.64% Natural gas took a beating this week after last week's gains. The drawbacks of the massive natural gas ETF, UNG, may be showing some truth with this week's losses. Smaller funds such as FCG also saw considerable losses, showing that the commodity can pull these stocks along with it. iShares Dow Jones U.S. Aerospace & Defense Fund ( ITA) (ITA) -4.34% PowerShares Aerospace and Defense ( PPA) -2.99% Negative news from Boeing, as reported on an article this week http://www.thestreet.com/p/_search/rmoney/etf/10526162.html pulled down both ITA and PPA. On top of that, this week, President Obama's Government Accountability Office found that 95 major defense contracts ran $295 billion over budget last year. Add those issues to the budget cuts on the part of the Pentagon, and it makes for a pretty dismal week for this sector.