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.

Winners

Market Vectors Rare Earth/Strategic Metals ETF

(REMX) - Get Report

4.3%

Major stock market indices are setting up for another day of gains. This upward action is boding well for market-correlated sectors like materials. As producers trek higher, ETFs like REMX and the

SPDR S&P Metals & Mining ETF

(XME) - Get Report

are scoring top spots on the winners list.

iShares Dow Jones U.S. Home Construction Index Fund

(ITB) - Get Report

3.5%

After kicking off the year on a positive note, the residential homebuilder rally has cooled. For weeks, funds like ITB and the

SPDR S&P Homebuilder ETF

(XHB) - Get Report

have struggled to find footing, with the former retreating to its 50-day moving average at the start of this week.

The past three days of strength, however, have helped ITB push to new 2012 highs. It will be interesting to see if short burst of strength proves to be a plateau-buster.

Guggenheim Solar ETF

(TAN) - Get Report

3.3%

The solar energy ETF is locking in a second day of gains as we head into the weekend on a positive note. The strength is refreshing since the fund had suffered a swift, six-day downturn prior to the run-up.

It is common to see a fund like TAN swing wildly in both directions. Use extreme caution here.

Losers

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report

-3.5%

The bull market celebrated its third birthday with a strong non-farm payroll report. As major stock market indices push back towards 2012 highs, the fear-tracking VIX benchmark is taking a hit. The VXX ETN is tumbling for a third day, locking in new 2012 lows.

iPath Dow Jones UBS Natural Gas Subindex Total Return ETN

(GAZ) - Get Report

-3.1%

The

United States Natural Gas Fund

(UNG) - Get Report

, which has recently tumbled to all-time lows, is closing out the week in unchanged territory. The same cannot be said for fellow futures-tracker, GAZ, which is suffering steep losses as it continues to be influenced by a substantial premium.

iShares MSCI Italy Index Fund

(EWI) - Get Report

-2.4%

Thanks to a successful debt swap, Greece is even closer to securing its much-needed bailout funding. Despite this news, however, tensions remain high in this region and ETFs linked to the EU are taking a hit.

Non EU-related Europe-tracking ETFs like the

iShares MSCI Turkey Investable Market Index Fund

(TUR) - Get Report

are also taking lumps.

All prices as of 2:10 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.