Here's a look at the best and worst performing ETFs of the past week.
Market Vectors Steel ( SLX) +14.6% Claymore/Delta Global Shipping ( SEA) +11.2% Market Vectors Coal ( KOL) +12.7% First Trust ISE-Revere Natural Gas ( FCG) +12.2% The global risk trade came back in force this week after commodity-related ETFs had sold off between mid-June and mid-July. Energy and industrial commodity prices bounced off their lows, and strong GDP reports from Singapore and China gave confidence to investors. These four funds are still down between 10% and 15% from their June 11 levels, however. Claymore/Robb Report Global Luxury ( ROB) + 12% With Goldman Sachs ( GS), JPMorgan Chase ( JPM) and other banks reporting knockout quarters, big bonuses may be on the way, and that's good news for luxury retailers. The fund has been unpopular though, and actually had zero volume on Friday. I picked it as one of the five dumbest ETFs, and it has no chance to attract attention until people begin wasting money again, something that doesn't happen until well into an economic upswing. SPDR S&P Homebuilders ( XHB) +12.6% iShares Dow Jones U.S. Home Construction ( ITB) +14.2% Both these funds gained on Friday, while the broader real estate ETFs declined. This goes to my argument that recent housing news paints a brighter picture for homebuilders than for ETFs holding commercial real estate, although both face a difficult road ahead. iShares Dow Jones U.S. Real Estate ( IYR) gained 7.6% on the week.