Without surprise, the elite-performing ETFs so far this year reflect surging oil and gas prices. The top eight ETFs are all oil and gas specific, with the rest focused on various commodities.

Non-energy related equity funds like the SPDRs S&P Homebuilders ETF (XHB) is up some 15 percent followed by the iShares Dow Jones Transportation Average (IYT) with a 14 percent gain.

The iShares MSCI Turkey (TUR) is up 13.1 percent, and iShares MSCI Israel (EIS) is ahead by 7.4 percent; both funds were just launched in March.

In the cold department, a handful of alternative-energy ETFs — along with emerging market funds focused on Indian and Chinese stocks — dominate. All of these areas enjoyed solid gains last year, but are now taking a breather.

What’s Hot:

Name

Ticker

Exp.

Year To Date

United States Natural Gas

UNG

0.60%

49.7%

iPath DJ AIG Natural Gas

GAZ

0.75%

48.4%

iPath DJ AIG Energy

JJE

0.75%

36.4%

PowerShares DB Energy Fund

DBE

0.75%

32.8%

ELEMENTS Rogers International Energy

RJN

0.75%

32.4

PowerShares DB Oil Fund

DBO

0.50%

32.3%

iPath S&P GSCI Crude Oil

OIL

0.75%

31.8%

First Trust ISE Revere Natural Gas

FCG

0.60%

27.3%

iPath DJ AIG Copper

JJC

0.75%

26.5%

iPath S&P GSCI Total Return

GSP

0.75%

26.4%

What’s Not:

Name

Ticker

Exp.

Year To Date

iPath MSCI India

INP

0.89%

-25.7%

PowerShares WilderHill Clean Energy

PBW

0.60%

-24.5%

First Trust Nasdaq Clean Edge

QCLN

0.60%

-23.0%

iShares DJ US Healthcare Providers

IHF

0.48%

-22.3%

PowerShares Dynamic Healthcare Services

PTJ

0.60%

-21.2%

HealthShares Metabolic-Endocrine

HHM

0.75%

-19.1%

iShares DJ U.S. Broker Dealers

IAI

0.48%

-18.7%

KBW Capital Markets ETF

KCE

0.35%

-18.1%

HealthShares GI/Gender

HHU

0.75%

-17.8%

PowerShares Golden Dragon Halter China

PGJ

0.60%

-16.0%

Performance data YTD through 5/7/08, does not include leveraged and inverse performing ETFs. Source: www.etfguide.com