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Dion's Friday ETF Winners and Losers

Despite a down trading session, the Market Vectors Gold Miners ETF continued to outperform the market.
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NEW YORK (TheStreet) -- Welcome to "Don Dion's Daily ETF Winners and Losers." Be sure to stop by each day to get a feel of who's winning and who's losing when it comes to ETFs.


Market Vectors Gold Miners ETF

(GDX) - Get VanEck Gold Miners ETF Report


Playing the gold miners this week has proved to be a worthy endeavor thanks to good earnings reports from heavyweights such as



. On Friday, the gains continued with gold moving higher, even though stocks moved lower. Gold miners have sometimes tracked with stocks rather than gold, but this week they went with the metal and GDX is outperforming

SPDR S&P 500

(SPY) - Get SPDR S&P 500 ETF Trust Report

by about 7% for the week.

iPath S&P 500 VIX Short-Term Futures ETN

(VXX) - Get iPath Series B S&P 500 VIX Short-Term Futures ETN Report


Friday has been another choppy day of trading after U.S. GDP numbers come in slightly below analyst expectations and

Goldman Sachs

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TheStreet Recommends

(GS) - Get Goldman Sachs Group, Inc. Report

(GS) gets whacked. In response to the uneasiness, investors are driving the fear index higher.

Global X Silver Miners ETF

(SIL) - Get Global X Silver Miners ETF Report


Friday has been a strong day for the precious metals industry. For the first time, the ETF designed to track the top players in the silver industry have managed to score a spot on the winners and losers list.

SIL is one of several new funds from Global X designed to track precious and base metal producers.


SPDR S&P Semiconductor ETF

(XSD) - Get SPDR S&P Semiconductor ETF Report


Despite a number of strong reports, investors have not been kind to the tech industry throughout this most recent earnings season.

During early Friday trading XSD's top holding,

International Rectifier


, was down more than 7% despite turning to profit in the most recent quarter. Fellow top holdings,


(LSI) - Get Life Storage, Inc. Report


Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

were down nearly 4% and 3% respectively.

United States Natural Gas Fund

(UNG) - Get United States Natural Gas Fund LP Report


Natural gas prices continued to reel after Thursday's disappointing storage numbers from the Energy Information Administration.

Investors should steer clear of UNG, which is trading in line with a level of support which has been tested four times over the past month. A dip below this area of support, which is its all-time low, could lead to a larger breakdown.

iShares Dow Jones US Oil Equipment Index Fund

(IEZ) - Get iShares U.S. Oil Equipment & Services ETF Report


As oil from the spill of the coast of Louisiana makes contact with land, President Obama has placed a halt on all new offshore drilling in U.S. waters until the cause for the accident is determined.

IEZ was strong last week and could still see some bright spots in the near future. Until the mess offshore is cleared up, the outlook for this fund is uncertain, but long-term investors may find prices attractive.

All prices as of 1:10 p.m. EST

-- Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion was not long any of the equities mentioned.

Don Dion is president and founder of

Dion Money Management

, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Mass., Dion Money Management manages assets for clients in 49 states and 11 countries. Dion is a licensed attorney in Massachusetts and Maine and has more than 25 years' experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

Dion also is publisher of the Fidelity Independent Adviser family of newsletters, which provides to a broad range of investors his commentary on the financial markets, with a specific emphasis on mutual funds and exchange-traded funds. With more than 100,000 subscribers in the U.S. and 29 other countries, Fidelity Independent Adviser publishes six monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.