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 GSCI Crude Oil Total Return Subindex ETN

(OIL) - Get Report

6.1%

Oil prices are soaring as analysts and market commentators debate the impact growing unrest across North Africa and the Middle East will have on production.

Despite crude's sharp rise, the same cannot be said for other components of the commodities spectrum. Agriculture and industry metal futures-backed ETFs and ETNs such as the

Teucrium Corn ETF

(CORN) - Get Report

, the

iPath Dow Jones UBS Cotton Total Return Subindex ETN

(BAL) - Get Report

and the

iPath Dow Jones UBS Copper Total Return Subindex ETF

(JJC) - Get Report

are taking heavy hits.

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report

11.4%

Political unrest sweeping Libya and other regions of the developing world are weighing heavily on markets around the globe. Concern about this turmoil is stoking investor fears, driving VXX and the

iPath S&P 500 VIX Mid Term Futures ETN

(VXZ) - Get Report

to notable gains.

Although VXX and VXZ have seen some strength recently, I continue to urge investors to steer clear. As we have seen in the past, these funds tend to perform in a volatile manner and could see a quick reversal.

Global X Silver Miners ETF

(SIL) - Get Report

1.2%

Despite today's jittery market, silver prices continue to trudge higher, helping metal producers carve out impressive gains.

SIL has staged an impressive run up throughout February thanks to improving economic conditions and investors' insatiable demand for precious metals. The fund is nearing the highs at the start of the year.

Losers

Market Vectors Vietnam ETF

(VNM) - Get Report

-5.9%

A wide range of Asia-related ETFs are among the heaviest hit funds amid the downward market action. Leading the retreat are the

Market Vectors Vietnam ETF

, the

iShares MSCI South Korea Index Fund

(EWY) - Get Report

, and the

Guggenheim China Small Cap Index ETF

(HAO) - Get Report

.

iShares MSCI Italy Index Fund

(EWI) - Get Report

-5.6%

The Italy-tracking EWI's top holding,

Eni

(E) - Get Report

is getting hit hard in response to the political tension facing Libya. In response to the company's decision to suspend some Libyan operations, the company is heading lower, dropping over 7% in early afternoon trading.

EWI is heavily influenced by the day to day action from Eni. The fund sets aside an 18% slice of its index to the firm.

ETFS Physical Palladium Shares

(PALL) - Get Report

-5.4%

Although silver prices have managed to stay in positive territory, other industry linked precious metals are tumbling as investors flee the market and seek out defensive assets.

Palladium and platinum are getting hard, causing PALL and the

ETFS Physical Platinum Shares

(PPLT) - Get Report

to suffer notable losses.

All prices as of 2:14 PM EST

-- Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion Money Management owned none.

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.