By Don Dion, TheStreet

 

Here are five exchange-traded funds worth keeping an eye on this week.

 

1. Market Vectors India Small Cap Index ETF (SCIF)

The Indian markets were sent into a tailspin last week, weighed down by concerns about the nation's corruption. As a result, ETFs designed to track the nation's economy were battered. The small-cap companies underlying SCIF were hit especially hard, leading the fund to crumble to new lows.

 

Investor sentiment will likely be pressured heading into the near future, and this could cause products such as SCIF and WisdomTree India Earnings ETF (EPI) to be shaky.

 

Emerging markets still hold promise heading toward the new year. However, in order to avoid the pain that can result from issues such as the one currently facing India, it is essential to keep a close watch on your portfolio's exposure.

 

2. iShares Dow Jones Transportation Average Index Fund (IYT)

Late this week, transportation bellwether FedEx (FDX) will release its quarterly earnings to the public. With FedEx listed as the fund's largest holding, the company's performance will play a major part in directing IYT's action heading into the end of the year.

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Aside from FedEx's earnings report, IYT remains an exciting fund to watch as we dive headlong into the holiday gift-giving season. As consumers increasingly turn to online retailers to get their last-minute shopping done, timely delivery from companies such as FDX and UPS will become an increasingly essential ingredient.

 

3. Guggenheim Canadian Energy Income ETF (ENY)

This week, Canadian Finance Minister Jim Flaherty offered up some promising words for his home nation. On top of highlighting a collection of optimistic fiscal data points such as the country's stable debt-to-GDP ratio, Flaherty turned to the future of the nation's ample natural resource industry. The politician went as far as labeling Canada an "emerging energy superpower."

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Aggressive investors who share Flaherty's optimistic views may want to consider putting ENY on their radar. Whereas broad-based Canada ETFs such as iShares MSCI Canada Index Fund (EWC) tap into the many facets of the nation's economy, ENY is comprised solely of companies involved in Canada's energy industry.

 

This industry will benefit as markets around the world continue on the path to recovery and emerging nations such as China continue to seek out ways to quench its thirst for energy.

 

4. SPDR S&P Retail ETF (XRT)

This retail ETF has seen a nice jump in our long-term momentum rankings as consumers load up on goods in preparation of the holidays. Although it has seen a dramatic multimonth run-up already, as we head into this week, XRT looks like it could hold on to its recent strength, benefiting from the diverse mix of luxury, discount and teen-related retailers underlying its index.

 

Two important data points that retail hungry investors should keep an eye on this week are retail sales numbers and Best Buy's (BBY) earnings report, both to be released Tuesday.

 

5. iShares Silver Trust (SLV)

It typically takes a backseat to gold in terms of popularity, but recently silver has enjoyed the spotlight as demand for precious metals combined with improving market sentiment has help drive the industry-linked commodity to staggering heights.

 

SLV's run-up has been dramatic, and therefore it is not surprising that investors used the past week as an opportunity to take profits. I would not advise investors to dive in, however. This fund could be in for a further correction, and for now the best option would be to stick to the sidelines.

 

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