Dion's Wednesday ETF Winners and Losers

NEW YORK (TheStreet) -- Here are today's ETF winners and losers.

Winners

iPath S&P 500 VIX Short Term Futures ETN (VXX) 2.1%

The market's mood continues to waver as investors digest macroeconomic news abroad and corporate earnings data here at home. This, in turn, has caused the fear-tracking VIX benchmark and ETNs like VXX to exhibit some rollercoaster action.

VXX has struggled in the days since its six-day winning streak was broken. In the days ahead, it will be interesting to see what's next here.

United States Natural Gas Fund (UNG) 0.4%

Yesterday's selling action pushed UNG to brand-new lifetime lows. During mid-week trading, the troubled futures-tracking fund has managed to stage a slight comeback.

The premium-plagued iPath Dow Jones UBS Natural Gas Subindex ETN (GAZ) is not as fortunate; it is currently suffering a notable loss.

Losers

iShares MSCI Spain Index Fund (EWP) -3.8%

After taking a backseat during yesterday's positive trading action, Spain's macroeconomic woes have again entered discussion. This has made for a choppy trading session. EWP's weakness has caused it to give back all of the gains it witnessed yesterday. The same can be said for the iShares MSCI Italy Index Fund (EWI).

Continue to steer clear of Europe-linked ETFs. Their back and forth day to day action will likely linger on.

Market Vectors Solar Energy ETF (KWT) -2.5%

The strength seen yesterday across the solar energy industry has proven to be short-lived and, as the end of trading approaches, KWT and the Guggenheim Solar ETF (TAN) have again succumbed to selling pressure.

First Solar (FSLR), which rallied Tuesday on layoff-related news, is seeing a notable decline. The firm's shares are off over 5%.

iShares MSCI Chile Investable Market Index Fund (ECH) -1.6%

As U.S. markets head lower, investors are expressing hesitance towards the developing world. ECH, the Market Vectors India Small Cap Index Fund (SCIF), and the iShares MSCI Poland Investable Market Index Fund (EPOL) are among the most notable decliners seen this session.

India's marketplace has been a notable outperformer in 2012, beating out other countries comprising the famed BRIC acronym.

Market Vectors Junior Gold Miners ETF (GDX) -1.4%

Even as major U.S. market averages slide, gold is failing to find solid ground. With today's losses, the bullion-backed iShares Gold Trust (IAU) has suffered four consecutive days of declines. This weakness, combined with the broader downward market action is weighing heavily on GDX and the Market Vectors Junior Gold Miners ETF (GDXJ).

All prices as of 2:10 PM DST

At the time of publication, Dion Money Management owned IAU.