NEW YORK ( TheStreet) -- Here are five ETFs to watch this week.

iShares Dow Jones U.S. Energy Sector Index Fund ( IYE)

Integrated oil goliaths will be in focus this week, pushing IYE and other large-cap dominated energy ETFs into the spotlight. Exxon Mobil ( XOM), Chevron ( CVX) and ConocoPhillips ( COP) are among the companies slated to report their earnings. Together, this trio accounts for over 40% of the fund's total portfolio.

IYE has seen a strong run up in recent weeks as EU-related concerns have begun to abate. This strength has helped it recover all of the losses it suffered during the September sell- off.

The days ahead will be crucial for IYE. In the event that confidence returns, the fund could be in for a lift. However, given its top heavy nature any exposure to IYE should be kept small.

iShares MSCI EMU Index Fund ( EZU)

Rumors were in abundance last week as market commentators attempted to learn more about the potential actions being taken to reign in the ongoing EU crisis.

Much of the focus over the past few weeks has been on France and Germany. As leaders from these two nations continue to sort out a plan, funds like EZU will be interesting to watch.

Even in the event that an agreement, I would encourage even the most aggressive, risk-tolerant investors to tread carefully in this region. Sentiment towards these nations has and will likely continue to shift from headline to headline. Those with heavy exposure to a fund like EZU will be vulnerable to volatility.

Materials Select Sector SPDR ( XLB)

The earnings season is packed this week as companies from across the market spectrum to report their earnings and guidance. Another sector that will be heavily in play will be materials.

Industry headliners and top XLB constituents including DuPont ( DU), Dow Chemicals ( DOW), Praxair ( PX), Newmont Mining ( NEM) and Ecolab ( ECL) will all be on tap. These firms represent nearly one-third of the fund's total portfolio.

While earnings will play a major role in directing XLB's performance in the days ahead, like other ETFs linked to market-correlated sectors, investors will want to keep a close watch on what is happening at a macro level. Reignited global economic fears could be enough to offset any strength from these reporters.

If you liked this article you might like

2 Vulnerable Energy Stocks to Sell Now

3 Sectors to Bet On in 2017 Amid Uncertainty

Four ETFs to Prep for Downside Risk in Equities

Four ETFs Which Could Help Protect Your Portfolio