Dion's Weekly ETF Winners and Losers

Here's a look at Don Dion's ETF winners and losers for the week.

Winners

ProShares UltraShort Real Estate(SRS Quote) +10.1%

Last week the real estate ETFs dominated the weekly winners; this week they were among the losers. The drop in REITs provided a much needed lift to SRS, which is down more than 40% in the past three months.

PowerShares DB Crude Oil Double Short ETN(DTO Quote) +9.3%

DTO has been a weekly winner several times because the moves in oil have been swift.

Friday's 9% gain delivered all the gains for the week and then some, as DTO was trading slightly lower for the week at the close on Thursday. Traders need to watch the flip side though: DTO lost 14% from July 29 to July 31.

WisdomTree Japan Small Cap(DFJ Quote) +3.8%

A humdrum week for the broad U.S. market was a quiet gainer for DFJ. Japan's Nikkei gained 1.8% for the week, while CurrencyShares Japanese Yen(FXY Quote) advanced nearly 3%. Most Japan funds failed to take advantage of a double-gain (equity plus currency) week, which have been rare of late, but DFJ made the most of it.

Losers

U.S. Natural Gas(UNG Quote) -4.9%

iPath Natural Gas(GAZ Quote)-6.7%

GAZ underperformed UNG by a wide margin because UNG refuses to issue shares until the CFTC announces potential changes to futures regulations. UNG had a premium that grew to nearly 10% on Friday.

Meanwhile, GAZ has no premium and therefore followed the price of natural gas down.

ProShares UltraShort 20+ Year Treasury(TBT Quote) -6.4%

ProShares UltraShort 7-10 Year Treasury (PST Quote) -4.4%

A strong Treasury auction for longer-term bonds and a weak stock market combined to support bond prices, which hit TBT. With no sign of inflation, investors' only hope for higher rates is the end of quantitative easing, but reduced money supply plus higher rates is a recipe for deflation.