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.


iPath Dow Jones UBS Natural Gas Subindex Total Return ETN

(GAZ) - Get Report


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 Report

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

iShares Dow Jones Transportation Average Index Fund

(IYT) - Get Report


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 Report


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 Report

, the

Market Vectors Indonesia ETF

(IDX) - Get Report

, and the

iShares MSCI Taiwan Index Fund

(EWT) - Get Report

are each up less than 1%.


Market Vectors India Small Cap ETF

(SCIF) - Get Report


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 Report


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 Report


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


, 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.


(BAP) - Get Report



(BVN) - Get 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.