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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 find out which ETFs are gaining or losing.

Winners

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Free Report

4.4%

The markets are struggling to capitalize on Thursday's late day rally as economic concerns once again take center stage. The daily back-and-forth action has done little to ease investor concerns. As fears remain piqued, the VIX has managed to climb higher. The VXX is trading around new 2011 highs.

iShares MSCI Philippines Investable Market Index Fund

(EPHE) - Get Free Report

0.9%

A number of international ETFs can be found trading in negative territory as macro- economic issues drive investors out of risk. Bucking this trend is the Philippines ETF, which has enjoyed a nice bounce after a steep drop in mid-September.

While impressive, I encourage investors to exercise caution: Emerging nations will likely continue to behave in a volatile manner in the future.

Losers

Teucrium Corn ETF

(CORN) - Get Free Report

-5.6%

Corn prices are taking a hit, thrusting the futures-backed CORN ETF to the top of the losers list. Other products, including the

iPath Dow Jones UBS Grains Subindex Total Return ETN

(JJG) - Get Free Report

and

iPath Dow Jones UBS Agriculture Subindex Total Return ETN

(JJA) - Get Free Report

are struggling in light of the crop's weakness.

Global X China Consumer ETF

(CHIQ) - Get Free Report

-6.2%

China-related ETFs are heading lower, weighed down by investor concerns about the nation's growth prospects. News that the U.S. Department of Justice is looking into accounting issues at Chinese firms listed in the U.S. is helping to place additional pressure on funds.

Russia is another emerging market player heading lower heading into the weekend as indicated by the losses seen from the

Market Vectors Russia ETF

(RSX) - Get Free Report

.

SPDR KBW Capital Markets ETF

(KCE) - Get Free Report

-3.1%

The capital markets ETF is failing to capitalize on Thursday's upward action. Leading the fund's index lower are top holdings

Morgan Stanley

(MS) - Get Free Report

and

Franklin Resources

(BEN) - Get Free Report

.

I encourage conservative investors to avoid exposure to the U.S. financial sector. With global economic turmoil still dominating headlines, this slice of the market will likely continue to behave in a shaky manner.

All prices as of 2:15 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.