Dion's Tuesday ETF Winners and Losers

NEW YORK (TheStreet) -- Welcome to Don Dion's "ETF Winners and Losers." Be sure to stop by throughout the week to find out which ETFs are gaining or losing.

Winners

PowerShares Dynamic Networking Portfolio (PXG) 1.3%

A strong quarterly earnings showing from VMware (VMW) sent shares of the firm up nearly 8% in early afternoon trading. This performance is boding well for PXQ, which lists the company among its top 10 holdings.

PXQ has enjoyed an impressive string of gains over the past few weeks that have helped to propel it through its 200-day moving average for the first time since last July. WisdomTree India Earnings Fund (EPI) 1.6%

EPI has seen only two days of negative action in January. This largely uninterrupted rally has helped the fund recover a good portion of the losses suffered during the tumultuous final months of 2011. Fellow India ETFs like the Market Vectors India Small Cap Index ETF (SCIF) have also fared well; if the fund can close out this session in positive territory, it will mark its twelfth consecutive win.

iPath S&P 500 VIX Short Term Futures ETN (VXX) 1.0%

The ongoing European debt saga has fallen back into focus, making for a choppy day of trading. As major U.S. stock indices struggle to contain losses, the fear-tracking VIX index is powering higher. VXX is on the verge of locking in its first day of gains since January 13.

Losers

Global X Norway ETF (NORW) -1.8%

Europe-related ETFs are stumbling in this choppy trading environment. NORW's downturn has negated all of the gains since the start of the week. The iShares MSCI Austria Investable Market Index Fund (EWO), meanwhile, is capping a five-day rally.

The mood surrounding Europe has lightened considerably during the opening weeks of the year. Still, investors should maintain a close watch on developments in this region.

Global X Uranium ETF (URA) -1.8%

Over the past four sessions, the uranium ETF has struggled against both its 200-day moving average and October highs. The shaky action will likely continue in the near term as the fund determines where to head next.

The Market Vectors Coal ETF (KOL) and the Global X Copper Miners ETF (COPX) are also seeing red during mid-afternoon trading.

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