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TheStreet Open House

Dion's Wednesday ETF Winners and Losers

Stocks in this article: GDX FDN JJG

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.

Winners

Market Vectors Gold Miners ETF (GDX) 2.3%

Gold prices have been on a tear recently, returning to $1,200 levels as investors remained concerned about the strength of the global economic recovery. The rising price of the yellow metal is propelling gold miners higher, helping GDX and Market Vectors Junior Gold Miners ETF (GDXJ) pocket gains.

First Trust Dow Jones Internet Index ETF (FDN) 2.3%

Search giant Google (GOOG) is making headlines today after news reports indicated that the company was working with Verizon (VZ) and Motorola (MOT) to develop an Android powered tablet computer which would take on the successful Apple (AAPL) iPad.

Google accounts for the largest position in FDN, representing nearly 10% of the fund's total index.

iPath Dow Jones-UBS Grains Total Return Subindex ETN (JJG) 2.4%

Grain prices are climbing today as Russia's wheat market remains threatened by lingering drought conditions which have already cut into forecasted yields. On Wednesday, commodities trader Glencore urged the nation's government to institute a ban on wheat exports.

Losers

iShares MSCI Turkey Investable Market Index Fund (TUR) -1%

After running up nearly uninterrupted for more than a month, the Turkey ETF appears to be taking a breather, pocketing its second consecutive day of losses. The fund recently hit a new 2010 high.

Looking to the future, political tension between Turkey and Israel may put some weight on this fund's performance.

iShares MSCI Spain Index Fund (EWP) -1.1%

EWP staged an impressive rally through July. Over the past month, the fund has shot through both its 50- and 200-day moving averages, revisiting levels last seen in the second half of April.

Global X China Financials ETF (CHIX) -1.1%

Investors are fleeing China's financial industry today on word that the nation's banking regulator was urging banks to conduct stress tests to determine how they would be affected by a 60% drop in housing prices.

For a while now, I have warned investors to be cautious of playing China's banking sector and ETFs with heavy financial exposure, such as iShares FTSE/Xinhua China 25 (FXI). Claymore/AlphaShares China Small Cap Index ETF (HAO) is a far more reliable play for this nation.

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