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.


iPath Dow Jones UBS Natural Gas Subindex Total Return ETN

(GAZ) - Get Report


The effects of the substantial premium underlying GAZ were felt Wednesday as the ETN whipsawed between gains and losses. As we approach the end of the week, it has managed to push back into positive territory alongside fellow futures-tracking natural gas ETF, the

United States Natural Gas Fund

(UNG) - Get Report


Continue to steer clear of GAZ. Its premium currently stands at over 40%.

SPDR S&P Regional Banking ETF

(KRE) - Get Report


The financials are witnessing strength as the end of the week approaches. The regional banking ETFs like KRE are seeing some of the strongest gains.

This upward action is impressive. Prior to the opening bell, investors learned that Moody's was considering downgrades on a number of domestic and international banking institutions including

Morgan Stanley

(MS) - Get Report



(UBS) - Get Report


Global X Uranium ETF

(URA) - Get Report


Uranium producers are powering higher as investors shake off the jitters brought on by Wednesday's late-session downturn. These gains have helped URA recover back to levels seen at the start of the week.

URA and the

Market Vectors Uranium+Nuclear Energy ETF

(NLR) - Get Report

will be interesting to watch in the coming weeks as we approach the one-year anniversary of the Japanese earthquake and tsunami.


iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report


U.S. market indices have rebounded following Wednesday's tumble, helped higher by a welcomed dose of strong economic data regarding the U.S. economy. This news is driving volatility-tracking ETNs including VXX and the

iPath S&P 500 VIX Mid Term Futurse ETN

(VXZ) - Get Report

to notable losses.

iShares Barclays 20+ Year Treasury Bond Fund

(TLT) - Get Report


Long-term Treasuries are being shunned as the markets head higher and investors regain some confidence. It has been a back-and-forth month for TLT as the fund has struggled to regain ground above its 50-day moving average.

The market's climb has been encouraging, but I urge investors to avoid unloading defensive assets entirely. As we saw yesterday, the threat of a downturn is still present. Safe havens can help defend against turmoil down the road.

PowerShares DB Base Metals Fund

(DBB) - Get Report


DBB's 200-day moving average has proven to be an effective point of resistance. Since it tested this level last week, the fund has suffered a steep multi-day string of gains, pushing it back to its 50-day moving average. It will be interesting to see if this point proves to be one of support.

All prices as of 2:13 PM EST.

Written by Don Dion in Williamstown, Mass.


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At the time of publication, Dion Money Management did not own any equities mentioned.