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

iPath Dow Jones UBS Natural Gas Subindex Total Return ETN

(GAZ) - Get Report

6.6%

Natural gas has spent most the month showing investors how far it can fall. Heading into the final full week of January trading, however, futures-backed funds like GAZ and the

United States Natural Gas Fund

(UNG) - Get Report

at last appear to be finding some footing.

This upward action is boding well for gas producers as well. The

First Trust ISE Revere Natural Gas Index Fund

(FCG) - Get Report

is up over 4% in early afternoon trading.

iShares MSCI Austria Investable Market Index Fund

(EWO) - Get Report

2.8%

Europe-related fears have been cast to the sidelines over the past week, helping some of the most troubled members of this region push higher. Austria, for example, has had a welcomed rally, helping EWO to five consecutive days of upward action. The fund has not traded at this level since the first half of November.

Global X Uranium ETF

(URA) - Get Report

2.5%

After stumbling into the weekend, uranium miners appear to have shaken off the jitters, helping URA get back to its positive trajectory.

The fund has broken above its October highs and appears on track to test its 200-day moving average. This will be the first time that the young fund has visited this level.

Meanwhile, fellow uranium-tracker, the

Market Vectors Uranium+Nuclear Energy ETF

(NLR) - Get Report

, has yet to revisit its autumn highs.

SPDR S&P Oil & Gas Exploration & Production Index ETF

(XOP) - Get Report

2.5%

XOP and a number of other ETFs linked to energy producers are powering higher as strong market conditions drive investors back into growth-correlated sectors.

The

SPDR S&P Oil & Gas Equipment & Services Index Fund

(XES) - Get Report

and the

iShares Dow Jones U.S. Oil Equipment & Services Index Fund

(IEZ) - Get Report

are taking hits. Losses from industry giants like

Halliburton

(HAL) - Get Report

and

Baker Hughes

(BHI)

have caused the fund to remain in unchanged territory.

Market Vectors Junior Gold Miners ETF

(GDXJ) - Get Report

0.88%

The junior gold miner ETF spent the past few days trading along its 50-day moving average. At the start of the week, however, the fund appears to have broken higher. Looking to the near term, investors should continue to monitor this level; since dipping below in September, it has proven to be a point of resistance.

The

Global X Silver Miner ETF

's

(SIL) - Get Report

strength indicates that producers across the precious metal spectrum are benefiting from the market's strength.

Losers

Market Vectors Vietnam ETF

(VNM) - Get Report

-1.4%

VNM got off to a rocky start in 2012 as the fund locked in all-time lows. In the past few weeks, however, the fund has staged a dramatic about-face, recovering December's losses.

Vietnam's marketplace is a unique entity. It is not uncommon to see VNM perform independent of other ASEAN nations.

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report

-0.8%

The fear-tracking VIX index is heading higher, snapping a three day losing streak. Despite this upward action, however, the futures-tracking VXX is struggling to find footing. In 2012, this closely-watched product has witnessed only two days of upward action. This steep, prolonged descent has caused it to give back nearly all of the gains seen during its August run-up.

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.