Here’s the problem for FDN: It allocates over 12% of its combined weight to Amazon (NasdaqGS: AMZN) and eBay (NasdaqGS: EBAY), but as Yahoo’s Daily Ticker reports, Alibaba controls more e-commerce than Amazon and e-Bay combined.

Shares of Amazon are down 2% today, but a case can be made it should be more. Bloomberg notes the house that Jeff Bezos built earns a pathetic penny for every $1 in sales. For years, Wall Street and Main Street have willingly accepted Amazon’s lack of profits. However, to what end that acceptance is being granted becomes murky when Alibaba earns 43 cents for every $1 in sales, according to Bloomberg.

According to S&P Capital IQ data, Amazon is a top-10 holding in 24 ETFs, all of which are trading lower today.

First Trust Dow Jones Internet Index Fund

Tom Lydon’s clients own shares of Amazon and Facebook.