Dion's Thursday ETF Winners and Losers

The iPath S&P 500 VIX Short Term Futures ETN was up today as investors piled into instruments that track the fear index.
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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

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report

22.2%

Investors remain uncertain about issues facing Greece and China. This uncertainty is sending investors piling into instruments that track the "fear" index.

While I don't recommend holding VXX or its cousin, the

iPath S&P 500 VIX Mid-Term Futures ETN

(VXZ) - Get Report

, this has not stopped investors from trying their luck. In April, the two funds combined managed to rake in nearly $1 billion in assets.

ETFS Physical Palladium Shares

(PALL) - Get Report

0.8%

A shaky market helped pressure palladium lower over the past four days, bringing it back to its 50-day moving average. However, on Thursday, the industry linked metal managed to find some support and head higher.

Since it is more volatile than platinum, palladium is an ideal metal to play in times of market strength. However, with plenty of uncertainty regarding the market's direction, it may be better to steer clear of it for the time being.

Losers

Claymore/MAC Global Solar Energy Index ETF

(TAN) - Get Report

-10.4%

The solar energy industry is taking a big hit, with some of the heaviest losses among all ETFs, and with TAN breaking through support.

Over the past three days, the fund has tumbled to levels last seen one year ago. Leading the fund lower was industry leader,

Suntech Power Holdings

(STP)

. In early trading the company was down nearly 10%.

iShares S&P U.S. Preferred Stock Index Fund

(PFF) - Get Report

-9.2%

PFF is taking a big hit today with preferred shares from top Europeans banks

Barclays

(BCS) - Get Report

and

Deutsche Bank

(DB) - Get Report

tumbling over worries of debt losses.

PFF is designed to provide investors with exposure to the preferred shares to 85 companies listed on the U.S. markets. Investors should be aware, however, that the fund has over 88% of its portfolio dedicated to financials.

Claymore/AlphaShares China Small Cap Index ETF

(HAO) - Get Report

-7.6%

An overheating domestic real estate market and the troubles facing Europe have tormented China ETFs in recent days. Today's biggest casualty is the nation's smallest firms.

Today's dip sent HAO below its 200-day moving average. Due to their lack of financial exposure, China small caps continue to be my choice for investors looking to play this nation's markets.

United States Natural Gas Fund

(UNG) - Get Report

-1.0%

Another week, another Energy Information Administration storage report. On Thursday natural gas futures tumbled when the agency released its supply numbers. In the past week, supply rose by 83 billion cubic feet. Analysts, however, had expected an increase of only 79 billion cubic feet.

This dismal news sent UNG to new all time intraday lows. Continue to steer clear of this fund.

-- Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion Money Management was not long any 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.