Top ETFs for today's market. August 11, 2008 Don't let the bear market paralyze you. We don't know when stocks will end their slide, but these five exchange-traded funds look timely.SPDR S&P Biotech Index (symbol XBI). The biotechnology sector has a history of behaving independently of sweeping stock-market trends. Lately, that's been a good thing: The ETF lost just 2% in the first half of 2008. Rydex S&P Equal Weight Technology (RYT). According to First Call, analysts on average see technology-company earnings rising 13% this year and 18% in 2008. Yet the group has been hammered. For more on the Rydex ETF, see the facing page. PowerShares Dynamic Banking (PJB). This contrarian bet is filled with midsize regional banks. It's a better choice, for now, than the riskier Pro-Shares Ultra Financials (see the story, at left). There are parallels between technology stocks in 2002 -- after their crash -- and banks in 2008. Tech got better. So should banking. Advertisement SPDR Lehman Municipal Bond ETF (TFI). This ETF yields 3.8%, the same as the ten-year Treasury note. But because the ETF invests in tax-free muni bonds, that 3.8% yield is equivalent to a taxable yield of as much as 5.8% for taxpayers in the 35% federal bracket. The ETF, which launched in September 2007, charges annual fees of just 0.20%. ProShares UltraShort Lehman 20+ Year Treasury (TBT). With yields in the area of 4% and inflation rising, Treasury bonds are unattractive. This ETF, which launched in May, is designed to deliver twice the daily inverse return of a long-term Treasury-bond index.