In Tuesday's Wall Street Journal Fund Track column, John Spence names some of the biggest winners and losers in the exchange-traded realm. The top performers include ProShares UltraShort S&P 500 (up 61 percent), Vanguard Extended Duration Treasury ETF (up 55 percent), iShares Lehman 20+ Year Treasury Bond Fund (up 34 percent) and SPDR Lehman Long Term Treasury ETF (up 24 percent).

2008, of course, was a year to forget for ETFs tracking the financial, commodities and real estate sectors. Among those hit hard were ProShares Ultra Financials, which lost 85 percent, iShares Dow Jones U.S. Home Construction (down 43 percent) and U.S. Oil Fund (down 56 percent.) 

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