Dion's Thursday ETF Winners and Losers

The United States Natural Gas Fund rose on a report of a less-than-expected growth in natural gas supplies in the U.S.
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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.

Winners

United States Natural Gas Fund

(UNG) - Get Report

+3.9%

Gas prices and UNG rose after the Energy Department's Energy Information Administration reported stockpiles of natural gas grew less than expected over the past week.

UNG's fall since the start of 2010 has been steep, but the fund appears to be heading sideways the past few weeks. Its next move may be higher than lower, though I would advise against playing the fund.

Market Vectors Vietnam ETF

(VNM) - Get Report

+2.5%

Vietnam has scored some big gains today amidst global economic concerns. Investors appear to be pouring into the nation's markets after Mark Mobius, chairman of Templeton Asset Management, called Vietnam one of the world's "cheapest" stock markets.

Today's rise brings VNM off its 50-day moving average, where it has remained very close since the start of April.

Losers

iPath Dow Jones-UBS Sugar Subindex Total Return ETN

(SGG) - Get Report

-3.2%

For the third time in a week sugar prices fell, dragging SGG to some steep losses on the day. The dip on Wednesday has brought SGG the $45.50 level. The fund has tested this level on three different occasions this month.

iShares MSCI Italy Index Fund

(EWI) - Get Report

-2.3%

Investors holding ETFs focused on the European bloc are feeling the heat today as Greece continues to struggle with its ongoing debt situation.

Leading the pack lower are single-nation ETFs designed to track Italy and other countries seen to be most susceptible to a sovereign debt crisis.

Europe remains a dangerously volatile area. Investors venturing into this area do so at their own risk.

Market Vectors Russia ETF

(RSX) - Get Report

-1.6%

Russia is another country taking a big hit today. The performance of RSX relies heavily on the energy industry. Top holdings include gas and oil giants like

Lukoil

(LUKOY)

,

Gazprom

(OGZPY)

and Rosneft.

This week, Russia and Ukraine announced that they were moving forward with a plan to upgrade Ukraine's gas pipelines, the second largest in Europe.

iShares MSCI South Africa Index Fund

(EZA) - Get Report

-1.35%

South Africa's markets are taking a hit today after the country's central bank signaled that it would end rate cuts.

Though the fund has slid considerably this month after a nice rally in April.. Today, the fund currently is close to its 50-day moving average.

All prices as of 2:15 p.m. EST

-- Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion was long Market Vectors Russia.

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.