Dion's Wednesday ETF Winners and Losers

Gold ETFs have been on a winning streak. While uncertainty regarding Europe and Goldman Sachs sent investors piling into physical gold yesterday, today the miners are coming out on top.
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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

Market Vectors Gold Miners ETF (GDX) - Get Report 3.1%

Gold ETFs of various forms have been on a winning streak throughout this week. While uncertainty regarding Europe and

Goldman Sachs

(GS) - Get Report

sent investors piling into physical gold yesterday, today the miners are coming out on top.

Aiding GDX's rise on Wednesday was

Barrick Gold

's

(ABX)

earnings report, which beat analyst expectations.

Market Vectors Vietnam ETF (VNM) - Get Report 1.8%

VNM has managed to erase a good portion of the losses it accrued throughout this week.

Vietnam's relative disconnect from the rest of the global economy has and should continue to make VNM an interesting fund to watch as China, the U.S. and the E.U. work through their respective economic hurdles.

Losers

iPath Dow Jones UBS Sugar Total Return Subindex ETN (SGG) - Get Report -2.9%

Sugar prices continued to take a hit heading into Wednesday, leading SGG to some of biggest losses among all ETFs.

Wednesday's dip marks the seventh consecutive day of losses for this commodity.

iShares MSCI Spain Index Fund (EWP) - Get Report -2.5%

Europe continued to get battered today in light of Greece's ongoing debt troubles.

Leading the pack was EWP, which is designed to track Spain's markets. The past two days' losses have helped the fund carve out brand new lows for 2010.

Stay away from Spain and Europe until clearer skies prevail.

ETFS Physical Palladium Shares (PALL) - Get Report -1.6%

After Tuesday's tumble, investors still appear cautious of jumping back into the markets. Fears are causing investors to shy away from volatile metals like palladium, driving PALL lower.

Investors looking for a more conservative play on the platinum group of metals may want to take a look at the

ETFS Physical Platinum Shares

(PPLT) - Get Report

, but those who can stand the volatility should see nice gains when the market reverses.

All prices as of 2:15 PM EST

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.