Dion's Wednesday 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

Guggenheim Solar ETF (TAN) 4.2%

Solar energy stocks are ratcheting higher, pushing TAN to its sixth consecutive day of gains. This multi-day rally has propelled the fund to levels last seen prior to its November sell off.

Alternative energy has reveled in these increasingly confident market conditions. Investors must be cautious, because the fund could face steep headwinds if that sentiment turns south.

Guggenheim China Small Cap ETF (HAO) 3.4%

After spending years taking steps to reign in the nation's explosive housing market, China's government appears to be reversing its course and seeking out ways to reignite demand. As lawmakers attempt to prop up the real estate industry, fears of a hard landing are falling by the wayside. Therefore, it is not surprising to see HAO and the SPDR S&P China ETF (GXC) head higher.

Market Vectors Vietnam ETF (VNM) 1.6%

VNM continues to make up for ground lost during 2010, ascending to its 200-day moving average for the first time since last April. Bloomberg has reported that the Vietnam's marketplace is currently the top-rated frontier market. Despite this encouraging news, investors should continue to approach this nation with extreme caution.

SPDR S&P Semiconductor ETF (XSD) 1.0%

Semiconductors are benefiting, helping XSD power to 2012 highs. This corner of the tech sector welcomed some encouraging news this week courtesy of The Semiconductor Industry Association, which reported that chip sales grew in 2011 despite looming market headwinds.

Losers

Market Vectors Junior Gold Miners ETF (GDXJ) -1.9%

Tuesday's gains from funds like GDXJ, the iShares Gold Trust (IAU) and the iShares Silver Trust (SLV) did not last long. With major stock market indices seeing tepid action, investors are opting to unload their exposure to shiny metals.

Investors are not fearless, however. On the contrary, the volatility-tracking VIX benchmark is seeing solid gains.

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