Dion's Wednesday ETF Winners and Losers

Sugar prices continue to yo-yo, today seeing strong gains as bargain hunters attempt to take advantage of the commodity's recent price decline.
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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 Dow Jones-UBS Sugar Total Return Subindex ETN (SGG) - Get Report 6.8%

Sugar prices continue to yo-yo, today seeing strong gains. Investors should be cautious before trying their luck with this sweetener because it has been extremely volatile this year.

Today's gains come as bargain hunters attempt to take advantage of the commodity's recent price decline.

Market Vectors Russia ETF (RSX) - Get Report 5.1%

On Wednesday, Russia and Turkey signed two agreements regarding the nations' energy cooperation. One paved way for the construction of Turkey's first nuclear power plant while the other allows the two nations to work on a pipeline which will carry oil to the Black Sea from Russia.

The Russia ETF is heavily weighted in the oil and gas industry and should therefore benefit directly from at least one of these agreements.

iShares MSCI Turkey Investable Market Index Fund (TUR) - Get Report 3.1%

RSX is not the only single nation ETF to benefit from the agreements signed between Russia and Turkey on Wednesday. The Turkey ETF is seeing gains as well. Today's rise brings the fund back above its 50-day moving average.

Wild swings in TUR are commonplace. Therefore, risk-conscious investors may want to avoid this fund.

SDPR S&P Semiconductor ETF (XSD) - Get Report 2.6%

The tech industry has been one of the strongest performers on Wednesday and the semiconductors are leading the pack.

Investors looking to play the tech and telecom industry in the near future should keep an eye on the presentations given at the J.P. Morgan Technology, Media and Telecom Conference. This program will run from May 17-19.

First Trust ISE-Revere Natural Gas Index Fund (FCG) - Get Report 2.4%

Natural gas producers are seeing nice gains today as futures prices rise and two Asian firms announce massive purchases of a top industry player.

Hopu Investments

, a private equity firm in Beijing, and Singapore's

Temasek Holdings

recently announced their plans to purchase a combined $1 billion stake in

Chesapeake Energy

(CHK) - Get Report

.

Losers

iPath S&P 500 VIX Short Term Futures ETN (VXX) - Get Report -5.7%

The battle between fear and greed continues to wage and on Wednesday, greed is taking the upper hand. As the markets head higher investors are abandoning their fears, driving the VIX and VXX lower. Today's move shows why investors who overstay their welcome in a fund such as VXX may watch their profits evaporate rapidly.

All prices as of 2:18 PM EST

At the time of publication, Dion Money Management owned RSX.

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.