NEW YORK (TheStreet) -- Welcome to Don Dion's "Daily ETF Winners and Losers." Be sure to stop by each day to find out which ETFs are gaining or losing.

Winners

iShares MSCI Turkey Investable Market Index Fund

(TUR) - Get Report

3.6%

Turkey's markets has had a welcomed run up in recent days, helping TUR recover some of the losses suffered during the opening weeks of the month.

Turkey has struggled throughout 2011 as a combination of bloody protests in Northern Africa and the Middle East and debt issues in the EU lead investors to question the nation's strength.

While the fund may be interesting to watch, I would urge conservative investors to steer clear. The fund will likely continue to see whipsaw action in the days ahead.

PowerShares Dynamic Networking Portfolio

(PXQ) - Get Report

1.6%

After spending the first three days of the week tumbling, PXQ appears to have found some solid ground.

Motorola Solutions

(MSI) - Get Report

is playing a big role in pushing PXQ's index higher. This morning, the firm announced strong quarterly earnings numbers. MSI is listed as PXQ's fourth largest holding and accounts for over 5% of its index.

SPDR S&P Biotechnology ETF

(XBI) - Get Report

1.0%

Biotech-related ETFs are heading higher, leading funds like XBI and

First Trust Amex Biotechnology Index Fund

(FBT) - Get Report

to snap their three-day string of losses.

I've often highlighted the strengths of using ETFs to track the biotechnology industry. Individual firms from this corner of the health care industry can swing wildly from day to day. By providing investors with exposure to a wide collection of companies, funds like XBI and FBT can help to mitigate some of this volatility.

Losers

iPath Dow Jones UBS Sugar Subindex Total Return ETN

(SGG) - Get Report

-3.9%

Sugar prices are taking a hit this afternoon, leading the futures-tracking SGG to noticeable losses. SGG has become an exciting fund to watch. Since early May, the ETN has stuck to a steep, largely uninterrupted path higher.

The

iPath Dow Jones UBS Cotton Subindex Total Return ETN

(BAL) - Get Report

, another futures-tracking agriculture ETN, is also lower today.

iPath S&P VIX Mid Term Futures ETN

(VXZ) - Get Report

-1.5%

The markets have moved into positive territory as we head towards the close of the week, leading fear-tracking VIX ETNs like VXZ and

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report

to losses.

Looking to the days ahead, it will be interesting to see how VXX and VXZ behave. Investors remain jittery as Washington lawmakers continue to butt heads over debt ceiling negotiations.

iShares Silver Trust

(SLV) - Get Report

-1.3%

Silver prices are taking a hit as market strength instills confidence in investors and drives many into riskier asset classes.

Although investors have been turning to silver for shelter from uncertainty, it is crucial to note that, because this metal is used across a number of industries, it can be influenced by the day-to-day action in the markets. In the event of continued strength, funds like SLV could prove popular.

All prices as of 2:16 PM EST

Written by Don Dion in Williamstown, Mass.

RELATED ARTICLES:

>>After Soros, Will Hedge Funds Go Dark?

>>How to Trade a U.S. Debt Downgrade

At the time of publication, Dion Money Management did not own any equities mentioned.