NEW YORK ( TheStreet) -- Welcome to Don Dion's "Daily ETF Winners and Losers." Be sure to stop by each day to find out which ETFs are gaining or losing.
iShares MSCI Israel Capped Investable Market Index Fund (EIS) 3.6%
Global economic uncertainty has weighed heavily on the Israel ETF throughout August. Since the start of the month, the fund has stuck to a steep downward path, revisiting levels last seen in mid-2009.
Monday's rally is notable. However, I urge investors to exercise caution here. Aside from its steep decline, EIS is notably top heavy. With over 22% of its portfolio set aside for Teva Pharmaceuticals (TEVA), the fund will be heavily influenced by the firm's day-to-day action.Global X Silver Miners ETF (SIL) 5.0% Precious metals producers such as those underlying SIL and Market Vectors Gold Miners ETF (GDX) are powering higher, benefited by both the market's strength, and continued interest in safe-haven asset classes. GDX is currently trading around 2011 highs. It will be interesting to see if it can remain buoyed at this level. iShares MSCI Italy Index Fund (EWI) 3.6% The EU markets are starting off the new week on a strong note, as ETFs linked to troubled nations like Italy and Spain witness industry-leading gains. Non-euro members of the European continent are benefiting as well. iShares MSCI Sweden Index Fund (EWD) was up over 3% in early afternoon trading. Market Vectors Vietnam ETF (VNM) 4.2% Emerging nations are getting a lift as broad market strength drives investors back into risky corners of the global marketplace. Upward action can be seen from developing nations across the globe. VNM and Market Vectors Poland ETF (PLND) are among the biggest movers.