ETF Market Summary: Week Ending July 27th 2007

Dollar-Weighted Category Return

Sector Day Week Month YTD Day $ Week Correlation to SPY
Real Estate -2.51% -9.04% -9.29% -0.66% 1027 48.77%
Small Cap -2.36% -7.93% -8.08% -0.04% 16865 81.50%
Latin America -0.18% -7.68% -1.19% 7.77% 159 65.58%
Utilities -1.25% -7.63% -4.39% 0.23% 532 67.53%
Energy -1.19% -7.41% -0.37% 1.28% 2991 58.81%
Europe -1.37% -7.12% -4.46% 0.23% 746 83.45%
Mid Cap -0.85% -6.61% -4.79% 0.23% 1560 79.18%
Asia -2.14% -6.44% -1.54% 1.22% 73 77.30%
Emerging Markets -1.24% -6.38% -0.06% 1.16% 2904 65.77%
Russia -1.02% -6.31% 1.94% -6.39% 14 84.56%
MSCI -1.38% -5.79% -3.17% 5.62% 767 90.44%
Infrastructure -2.19% -5.76% -3.54% 12.48% 3 79.88%
Transports -1.25% -5.75% -1.53% 8.55% 51 91.27%
Dividend -1.23% -5.64% -5.59% -0.20% 100 80.35%
Consumer Goods & Services -0.70% -5.49% -4.67% -0.09% 323 77.37%
Retail -0.21% -4.99% -4.61% 0.18% 775 70.06%
Large Cap -1.83% -4.82% -1.76% 0.25% 4689 89.47%
Healthcare -2.22% -4.53% -4.92% 0.13% 147 92.84%
Commodities & Resources -0.40% -4.07% 1.78% 0.43% 509 29.91%
Call/Write 1.11% -3.86% -5.61% -0.45% 5 25.68%
Convertible 1.42% -3.30% -7.44% -0.97% 21 23.35%
China -1.48% -3.27% 3.27% 2.43% 583 85.66%
Japan -0.97% -2.39% -0.77% 0.03% 600 75.15%
Biotech -0.91% -2.15% -1.52% -0.20% 184 81.67%
Currency -1.26% -1.89% 0.58% 0.71% 66 15.31%
Short 1.45% 10.66% 3.37% -1.52% 3935 -80.62%