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.

Winners

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report

4.2%

The investor concerns brought on by the European Union's debt situation were exacerbated by increased tension between North and South Korea.

These issues are helping to create a volatile environment, lifting the VXX, which carved out brand new all-time lows on Monday.

iPath Dow Jones UBS Natural Gas Total Return Subindex ETN

(GAZ) - Get Report

2.3%

GAZ's premium has dropped significantly in recently weeks as demand for natural gas exposure cools. Still, at 6% this disconnection appears to be having an effect on the fund's performance. Fellow natural gas futures fund:

United States Natural Gas Fund

(UNG) - Get Report

is taking a slight hit today, falling 0.8%. Unlike GAZ, this fund is not dealing with a premium.

ETFS Physical Swiss Gold Shares

(SGOL) - Get Report

0.8%

In light of political and economic tensions facing a number of regions of the globe, investors are opting out of equities and moving into defensive asset classes.

The stock market exodus is boding well for gold and long term treasuries, as indicated by the gains seen in SGOL,

iShares Gold Trust

(IAU) - Get Report

,

SPDR Gold Shares

(GLD) - Get Report

and iShares

Barclays 20+ Year Treasury Bond Fund

(TLT) - Get Report

.

Losers

iShares MSCI South Korea Index Fund

(EWY) - Get Report

-5.5%

This morning U.S. investors were met with news of increased tensions between North and South Korea. Unsurprisingly, this has sent EWY and other South Korea-linked ETFs tumbling. The

First Trust Bick Index Fund

(BICK) - Get Report

, which tracks a basket of companies in Brazil, India, China and Korea, is taking a heavy hit today as well.

The threat of violence between South and North Korea is a factor that must been considered when taking on exposure to South Korea-focused products.

iShares MSCI EMU Index Fund

(EZU) - Get Report

-3.8%

Europe-focused ETFs continue to reel in light of the European Union's decision to bail out Ireland. Pressure can be felt across both broad Euro-ETFs and single nation funds.

Although it is not a member of the EU, The Turkish markets are taking a shot across the bow today, leading the

iShares MSCI Turkey Investable Market Index Fund

(TUR) - Get Report

to steep losses.

Global X Copper Miners ETF

(COPX) - Get Report

-3.8%

Copper is tumbling today as the EU and South Korea lead investors to question the strength of the global economic recovery. Weakness from this metal coupled with the broad down market is plaguing the basket of miners underlying COPX. Fellow base metal miner heavy products including

SPDR S&P Metals & Mining ETF

(XME) - Get Report

are also falling today.

All prices as of 2:15 PM EST

Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion Money Management owned iShares Gold Trust, iShares MSCI Turkey Investable Market Index Fund.

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.