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California-based tech giant Oracle (ORCL - Analyst Report) was in focus after it reported disappointing third quarter revenues and earnings driven by weak sales of new software licenses and cloud software subscription.

Close on the heels of this news, ORCL was pushed down by about 9.7% in a single trading session, the biggest drop since Dec 2011. Unsurprisingly this also led to a slump in many technology ETFs. This has obviously been particularly true for those funds that have major holdings in ORCL, and those that have a big focus on large caps or software firms in general.

The recently launched First Trust NASDAQ Technology Dividend Index Fund (TDIV - ETF report) recorded the largest decline of 2.42% on the day. The fund follows the NASDAQ Technology Dividend Index, holding 79 securities in its basket.

Of those firms, ORCL takes the seventh spot, making up roughly 4.04% of assets. This is a high cost product in the tech space with AUM of $75.3 million. The ETF is unpopular yet still up 8.64% year-to-date (read: Three Tech ETFs Still Going Strong).

Other top losers on the day were iShares Dow Jones U.S. Technology Sector Index Fund (IYW) and Vanguard Information Technology Index Fund (VGT - ETF report), which lost 1.36% and 1.26%, respectively, in the single trading day. Being the popular funds, these products have an impressive asset base of $1.9 billion and $2.8 billion, respectively. 

IYW tracks the Dow Jones US Technology index, holding 137 stocks while VGT tracks the MSCI US Investable Market Information Technology 25/50 Index, holding 415 securities. The former charges a higher fee of 46 bps a year while the latter charges a low fee of 14 bps a year.

Of the major holdings, Oracle takes the fifth position in the portfolio of both the funds with 5.39% of IYW and 4.5% of VGT. Still, the iShares product is up 3.29% and Vanguard product added 4.34% year-to-date (see more in the Zacks ETF Center).

Apart from these, the ultra-popular Technology Select Sector SPDR Fund (XLK - ETF report) also saw a price decline of 1.12%. The fund follows the S&P Technology Select Sector Index and holds 80 securities in total. Oracle takes the seventh position in the basket with 4.48% of the assets. With AUM of over $9.4 billion, the ETF gained 3.92% so far in the year and charges investors 18 bps in fees per year.

The iShares S&P North American Technology-Software Index Fund (IGV - ETF report) lost around 1.04%. This ETF provides exposure to companies specializing in software, holding 61 securities in total (read: New Leadership in the Tech ETF Space?). Unsurprisingly, ORCL takes the second spot, making up roughly 8.5% of assets.

The fund managed assets worth $729.6 million and has delivered excellent returns of 9.06% so far in the year despite the fall. The product charges a fee of 48 bps annually.

The other unleveraged tech ETFs – PowerShares Dynamic Software fund (PSJ), iShares S&P Goldman Sachs Technology Index Fund (IGM), iShares S&P Global Technology Index Fund (IXN) and First Trust ISE Cloud Computing Index Fund (SKYY) were also down 0.93%, 1.32%, 1.20% and 0.98%, respectively, on the day.

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