Dion's Friday 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.

Winners

PowerShares Dynamic Networking Portfolio (PXQ) 3.2%

The networking industry ETFs are powering higher today with Riverbed Technology (RVBD) leading the way. RVBD is PXQ's second largest position, accounting for over 5% of its total portfolio.

This firm was jumping nearly 20% during late morning trading after announcing a strong third-quarter earnings report. During the quarter the company saw its net income more than double. Following up the report the firm announced a 2-for-1 stock split.

iShares Dow Jones U.S. Oil Equipment & Services Index Fund (IEZ) 1.9%

Schlumberger (SLB) is leading the oil services industry higher today after a strong earnings report. The company's strength throughout the past quarter was largely due to its onshore activity as hurdles remain for the offshore drilling industry.

IEZ has seen a nice rally throughout the fall months. The fund is on the verge of testing previous 2010 highs.

PowerShares DB Base Metals Fund (DBB) 1.2%

DBB is designed to track a basket of futures contracts linked to the prices of copper, aluminum and zinc. Zinc is leading this fund's index higher as a result of concerns regarding the shutdown of a major Chinese smelter. This move could threaten supplies, providing room for the metal to run higher.

Losers

iPath S&P 500 VIX Short-Term Futures ETN (VXX) -2.9%

Trading has been choppy today with the broad U.S. indices performing in mixed fashion. The fear-based VIX ETNs are taking a nosedive.

VXX continues to tread lower into previously untested area and shows little sign of slowing down. Avoid this fund at all costs.

iPath Dow Jones UBS Natural Gas Total Return SubIndex ETN (GAZ) -2.8%

Natural gas prices are taking a hit, causing pain for ETFs structured to track futures prices. The iPath natural gas ETN has been struggling with a heavy premium causing it to disconnect from its underlying index. This has lead to the fund's notable divergence from its fellow natural gas tracking exchange-traded product, the United States Natural Gas Fund (UNG).

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