A singular exchange traded fund (ETF) Internet HOLDRs (HHH) was more affected than most as Amazon (AMZN) reported better than expected third-quarter results. Net income more than quadrupled to $80 million, or 19 cents per share. Revenue rose 41% to $3.26 billion. The results beat Wall Street estimates of 18 cents per share, Reuters reports.

Amazon represents 24% of the assets of Internet HOLDRs (HHH), which is up more than 27% year-to-date. HHH is limited to 13 companies in the Internet industry space, including other leaders such as eBay Inc. (EBAY), Time Warner (TWX) and Yahoo (YHOO). Collectively these four horsemen represent 84% of the fund’s assets.

By no means is this ETF diversified. However, as we head into the holiday season and Internet buying continues to expand, look for these bellwether Internet companies to continue to profit if consumer confidence remains high.

Tags: Technology