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

iShares MSCI Philippines Investable Market Index Fund (EPHE) 3.1%

A slew of emerging Asia ETFs are finding themselves at the top of the winners list. In addition to EPHE, the iShares MSCI Indonesia Investable Market Index Fund (EIDO) and the iShares MSCI Malaysia Index Fund (EWM) are pushing higher.

Not all parts of this region are gaining ground. The Market Vectors Vietnam ETF (VNM) is tumbling to a second day of losses, dipping over 1.5%.

iShares Dow Jones U.S. Home Construction Index Fund (ITB) 3.4%

After locking in some of the heaviest losses in the ETF universe Tuesday, Blackrock's homebuilder ETF is rebounding. The SPDR S&P Homebuilder ETF (XHB) is again seeing relatively contained action compared to ITB. As we head towards the end of the session, the fund has gained only 2%.

ProShares UltraShort 20+ Year Treasury Bond ETF (TBT) 1.2%

Despite the fact that major U.S. market indices are struggling to push higher, investors are showing disinterest towards safe havens like long-term U.S. Treasuries. Shares of the iShares Barclays 20+ Year Treasury Bond Fund (TLT) are down around 0.5%, retreating back below its closely-watched 50-day moving average.

Losers

Market Vectors Solar Energy ETF (KWT) -3.5%

The solar energy sector appears to have staged a dramatic about face in recent weeks, reminding investors of its inherently volatile nature.

With Wednesday's decline, KWT has once again broken through its 50-day moving average. In the days ahead, it will be interesting to see if this is only a short term test, or if the fund is due to head lower.

iPath Dow Jones UBS Natural Gas Subindex Total Return ETN (GAZ) -4.7%

GAZ continues to swing wildly as the fund's staggering premiums magnifies fluctuations. At the same time that the disconnected ETN is taking a shot across the bow, the United States Natural Gas Fund (UNG) is heading higher, locking in some of the strongest gains across the entire ETF industry.

Energy producers are facing pressure at mid-week, leading the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) to notable losses.

iShares Silver Trust (SLV) -5.4%

Precious metals are taking a beating, with bullion-tracking products like SLV and the iShares Gold Trust (IAU) taking the brunt of the hit.

Miners are not immune to the pain, however. The Market Vectors Junior Gold Miners ETF (GDX) and the Global X Silver Miners ETF (SIL) are both in negative territory. The pain is extending into all reaches of the mining industry; the SPDR S&P Metals & Mining ETF (XME) is nearing its February lows.

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