The Guggenheim Shipping ETF's ( SEA) near-8% decline is worth noting as well. In the absence of a pure Greece ETF play, SEA's 12% exposure to the nation makes it an interesting alternative.I encourage conservative investors to avoid troubled corners of the EU. Stick to the sidelines with SEA as well. Market Vectors Solar Energy ETF ( KWT) -8.2% A three-day rally at the end of the week helped to offset some of the losses from KWT and Guggenheim Solar ETF ( TAN). The gains, however, were not enough to keep the solar energy sector from scoring a spot near the top of this week's losers list. Since the start of October, this industry has managed to stay above all-time lows. However, in the event that market fears flare up in the weeks ahead, clouds could gather over this slice of the alternative energy industry. Market Vectors Brazil Small Cap Index Fund ( BRF) -7.4% As investors were reintroduced to the hurdles facing Europe and other corners of the globe, many opted to adapt a "risk-off" mentality. In fleeing volatile assets, investors shunned emerging-market ETFs. With the past week's losses, BRF has retreated to its 50-day moving average. It will be interesting to see whether the fund slips lower. Excluding this most recent breakout, the fund has struggled to break above this level since dipping below it in mid-May. -- Written by Don Dion in Williamstown, Mass.