Dion's Weekly ETF Winners and Losers

NEW YORK (TheStreet) -- The previous week's market slide on Thursday and Friday made for favorable comparisons for many ETFs this week, as the market rebounded from its lows. The EU bailout for the eurozone led to a big rally on Monday, but the gains in the euro began to disappear before Monday had even finished, and European shares found themselves under pressure for most of the week.

Winners

Claymore/Robb Report Global Luxury ETF(ROB) +8.3%

Although concerns still linger regarding Europe's debt issues and China's tightening steps, high-end consumers are still flocking to shopping centers. On Friday April's retail sales numbers came out and, for the seventh month in a row, U.S. retailers saw an increase.

While I typically recommend using the SPDR S&P Retail ETF(XRT) to play the broad retail industry, more adventurous investors may want to consider adding ROB instead.

Investors beware: This fund has unsettlingly low volume that may lead to troubles down the road. Protect yourself and keep any exposure to ROB small.

iShares MSCI Turkey Investable Market Index Fund(TUR) +5.7%

The Turkish markets and TUR saw some impressive gains this week. Recent increases in cooperative efforts between Turkey and neighbor Russia should continue to buoy the nation's markets in the near future.

This week, the two nations signed two agreements allowing for construction to begin on Turkey's first nuclear plant and for production on a new pipeline to transport from the Black Sea to the Mediterranean.

Additionally, visa requirements between the two nations are expected to be eased, which will aid tourism and trade.

The Russian ETF, Market Vectors Russia ETF(RSX) was also a winner this week, up 7.5%. iShares S&P Small Cap 600 Value Index Fund(IJS) +6.7%

Throughout this week, I have highlighted the strongest ETFs for investors looking to play small cap U.S. companies. In my final piece, Small Cap Value ETFs: A Guide , I noted that value-focused small cap ETFs had outperformed all other stylebox-based ETFs in 2010. This week, this trend continued with IJS scoring some of the strongest gains among all ETFs.

For more information see my articles on Small Cap Core, Growth and Value .