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Dion's Wednesday ETF Winners and Losers

NEW YORK ( TheStreet) -- Welcome to Don Dion's Daily ETF Winners and Losers. Be sure to stop by each day to get a feel of who's winning and who's losing when it comes to ETFs.


iPath S&P 500 VIX Short Term Futures ETN(VXX) 4.4%

Investors remain skittish after yesterday's gut-wrenching market drop. With fear in the forefront, investors continue to pile into the VXX, helping it recover to levels last seen in March.

Despite its impressive gains over the past two days, I am still wary of promoting VXX as a play against a nervous market.


First Trust NYSE Arca Biotech Index(FBT) -5.5%

The biotech industry is reeling after InterMune (ITMN) failed to receive FDA approval for its proposed lung drug. In after hours trading the firm dipped nearly 80% and more than completely reversed the previous gain of more than 200% in March, which came after an FDA panel recommendation. The swings highlight the huge risks of playing this industry using individual company stock.

Myriad Genetics (MYGN), another holding in FBT, was also taking a big hit on Wednesday.

Despite seeing a heavy drop today, FBT's scheduled quarterly rebalancing helped it dodge a bullet. At the end of the first quarter, ITMN accounted for more than 12% of the fund after shares jumped. Rebalancing cut the exposure and reduced the losses for the ETF.

Market Vectors Indonesia ETF(IDX) -4.2%

Indonesia's markets are suffering today after the nation's finance minister resigned and took up a post at the World Bank. Sri Mulyani Indrawati was an essential player in saving South East Asian from the global financial crisis. Tuesday's drop brings IDX below its 50-day moving average.

iShares MSCI Austria Investable Market Index Fund(EWO) -4.1%

The Austria ETF has slid along with the rest of Europe over the past two days. Wednesday's dip brings the fund close to February 2010 lows. With sovereign debt issues still fresh on investors' minds, investors should be prepared for steep drops in Europe focused ETFs.

United States Oil Fund(USO) -3.4%

Concerns regarding Greece and a strong U.S. dollar caused crude prices to dip below $81 on Wednesday, dragging USO investors lower. Aiding oil's tumble was the petroleum storage report from the Energy Information Administration. Supply increased by 2.7 million barrels vs. the expected 700,000.

All prices as of 2:16 PM EST

Don Dion is president and founder of Dion Money Management, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Mass., Dion Money Management manages assets for clients in 49 states and 11 countries. Dion is a licensed attorney in Massachusetts and Maine and has more than 25 years' experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

Dion also is publisher of the Fidelity Independent Adviser family of newsletters, which provides to a broad range of investors his commentary on the financial markets, with a specific emphasis on mutual funds and exchange-traded funds. With more than 100,000 subscribers in the U.S. and 29 other countries, Fidelity Independent Adviser publishes six monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.

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FBT $91.32 -2.40%
EWO $16.24 1.50%
VXX $16.70 2.60%
USO $11.30 0.71%
ITMN $73.89 -0.03%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

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