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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 iPath Series B Bloomberg Natural Gas Subindex Total Return ETN Report

4.5%

Watching GAZ's action, investors may think that natural gas is on a tear. In actuality, the ETN's standout performance can be attributed to its more than 110% premium. The

United States Natural Gas Fund

(UNG) - Get United States Natural Gas Fund LP Report

, which boasts no premium, is up less than 1% heading into the close.

iShares Dow Jones Transportation Average Index Fund

(IYT) - Get iShares US Transportation ETF Report

3.5%

It has lagged throughout much of the year, but the transportation ETF appears to be seeing some stirrings of life. If this standout action persists, Dow theorists will be pleased since the transports' divergence from the industrials has stood out as a frustrating quality throughout this early-year rally.

Market Vectors Vietnam ETF

(VNM) - Get VanEck Vietnam ETF Report

2.9%

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After three days of losses, the Vietnam ETF has regained some lost ground. Elsewhere in Asia, the markets are seeing tepid action. The

iShares FTSE China 25 Index Fund

(FXI) - Get iShares China Large-Cap ETF Report

, the

Market Vectors Indonesia ETF

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, and the

iShares MSCI Taiwan Index Fund

(EWT) - Get iShares MSCI Taiwan ETF Report

are each up less than 1%.

Losers

Market Vectors India Small Cap ETF

(SCIF) - Get VanEck Vectors India Growth Leaders ETF Report

-1.5%

The small-cap India ETF has enjoyed a strong start to 2012. However, as the year progresses, we are beginning to see signs of a strain. Since falling from its year-to-date highs, it has struggled to break back above its 200-day moving average. It will be interesting to see if this level continues to hold up as a point of resistance.

United States Gasoline Fund

(UGA) - Get United States Gasoline Fund LP Report

-1.3%

Gasoline futures prices are heading lower, pushing UGA to a second day of losses. This decline comes as reports that President Obama and UK Prime Minister, David Cameron, are discussing the possibility of tapping into emergency oil reserve in order to combat against rising fuel prices.

iShares MSCI All Peru Capped Index Fund

(EPU) - Get iShares MSCI Peru ETF Report

-1.0%

The Peru ETF is seeing weak action following the release of an uninspiring GDP report. According to

Bloomberg

, the nation's growth slowed during the opening month of January.

EPU may be attractive for investors looking to venture into Latin America. Caution is warranted, however.

Creditcorp

(BAP) - Get Credicorp Ltd. Report

and

Buenaventura

(BVN) - Get Compañía de Minas Buenaventura SAA Report

top the fund's index, accounting for more than 30% of its assets.

All prices as of 2:12 PM DST.

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.