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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.


iPath Dow Jones UBS Cotton Total Return Subindex ETN (BAL) 3.1%

November has been a painful month for single commodity ETNs. After staging dramatic rallies, BAL and

iPath Dow Jones UBS Sugar Total Return Subindex ETN


have both tumbled hard and are now struggling to regain long territory.

As I've explained, these products are not for conservative long-term investors. It is not uncommon for these funds to swing wildly from day to day.

iPath S&P 500 VIX Short Term Futures ETN (VXX) 2.0%

Investors returning to their desks after the Thanksgiving holiday are once again reminded of the economic turmoil plaguing various regions of the globe. Resonating market fears are pressuring the major market indices lower, providing the volatility index with fuel to power higher.

The VIX and products relating to it have become popular destinations for investors seeking ways to play the global market concerns. This week, a new player to the ETF arena,


announced the launch of a suite of new ETNs aimed at tracking various permutations of the fear index. As seen by the performance of VXX throughout the year, these products are not for long-term investors. Only the most risk tolerant, active traders should attempt to navigate the market with these funds.

Market Vectors Vietnam ETF (VNM) 2.0%

Despite the shaky performance seen from the developed world, developing Asian nations are scoring some respectable gains. Leading the pack on Monday is VNM, which seeks to reflect the state of the broad Vietnamese marketplace.

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iShares MSCI Thailand Investable Market Index Fund


is another fund from Southeast Asia heading higher.

The Vietnam ETF has already managed to recover much of the ground lost during it early-November breakdown. Looking ahead, the VNM and THD will likely be influenced by economic conditions in China and the goings on in Europe.


United States Natural Gas Fund (UNG) -4.5%

Natural gas futures are heading lower today in light of the stronger U.S. dollar. Interestingly, the impact of this downfall is hitting natural gas futures-backed exchange traded products differently. While both are heading lower, GAZ is performing noticeably better. The divergence between these two products can be traced back to the 11% premium underlying GAZ.

iShares MSCI Turkey Investable Market Index Fund (TUR) -4.0%

Euro-crisis fears were not forgotten over the holiday weekend. On Monday, a slew of European ETFs tumbled hard, led by the more volatile emerging regions of the continent. As nations from the euro-bloc continue to sort out their fiscal issues, investors expect turmoil to persist into the future. Therefore, extreme caution should be exhibited when venturing into this region of the globe.

Guggenheim Solar Energy ETF (TAN) -3.0%

Sovereign debt fears are weighing heavily on subsidy-reliant alternative energy companies such as those dedicated to solar energy. TAN has struggled to stabilize and is currently trading at levels seen prior to its early fall rally.

This type of choppy performance highlights why I urge investors to keep exposure to volatile funds such as this.

All prices as of 2:15 PM EST

At the time of publication, Dion Money Management owned THD and TUR.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.