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Dion's Wednesday ETF Winners and Losers

Gold mining ETFs were up today on concerns about the strength of the global recovery.
Author:

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

2.3%

TST Recommends

Gold prices have been on a tear recently, returning to $1,200 levels as investors remained concerned about the strength of the global economic recovery. The rising price of the yellow metal is propelling gold miners higher, helping GDX and

Market Vectors Junior Gold Miners ETF

(GDXJ) - Get Report

pocket gains.

First Trust Dow Jones Internet Index ETF

(FDN) - Get Report

2.3%

Search giant

Google

(GOOG) - Get Report

is making headlines today after news reports indicated that the company was working with

Verizon

(VZ) - Get Report

and

Motorola

(MOT)

to develop an Android powered tablet computer which would take on the successful

Apple

(AAPL) - Get Report

iPad.

Google accounts for the largest position in FDN, representing nearly 10% of the fund's total index.

iPath Dow Jones-UBS Grains Total Return Subindex ETN

(JJG) - Get Report

2.4%

Grain prices are climbing today as Russia's wheat market remains threatened by lingering drought conditions which have already cut into forecasted yields. On Wednesday, commodities trader Glencore urged the nation's government to institute a ban on wheat exports.

Losers

iShares MSCI Turkey Investable Market Index Fund

(TUR) - Get Report

-1%

After running up nearly uninterrupted for more than a month, the Turkey ETF appears to be taking a breather, pocketing its second consecutive day of losses. The fund recently hit a new 2010 high.

Looking to the future, political tension between Turkey and Israel may put some weight on this fund's performance.

iShares MSCI Spain Index Fund

(EWP) - Get Report

-1.1%

EWP staged an impressive rally through July. Over the past month, the fund has shot through both its 50- and 200-day moving averages, revisiting levels last seen in the second half of April.

Global X China Financials ETF

(CHIX) - Get Report

-1.1%

Investors are fleeing China's financial industry today on word that the nation's banking regulator was urging banks to conduct stress tests to determine how they would be affected by a 60% drop in housing prices.

For a while now, I have warned investors to be cautious of playing China's banking sector and ETFs with heavy financial exposure, such as

iShares FTSE/Xinhua China 25

(FXI) - Get Report

.

Claymore/AlphaShares China Small Cap Index ETF

(HAO) - Get Report

is a far more reliable play for this nation.

Market Vectors Coal ETF

(KOL) - Get Report

-0.4%

Alpha Natural Resources announced strong earnings results for second quarter of 2010. This news, however, has not been enough to power the fund higher. Concerns regarding the strength of the economic recovery picture are proving to be a far larger determinant, weighing heavily on materials-focused ETFs.

All prices as of 2:16 PM EST

-- Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion Money Management was long Market Vectors Gold Miners ETF, First Trust Dow Jones Internet Index ETF and iShares MSCI Turkey Investable Market Index Fund.

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.