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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.


iShares MSCI Chile Investable Market Index Fund

(ECH) - Get iShares MSCI Chile ETF Report


Chile's markets treading higher today, sending ECH to all-time highs. This fund has been roaring higher since bouncing off its 50-day moving average at the start of July.

Latin America remains an attractive region of the globe as Europe and Asia continue to face their own respective economic headwinds.

PowerShares DB Base Metals ETF

(DBB) - Get Invesco DB Base Metals Fund Report


Base metals are scoring their second consecutive day of gains with copper leading the way. Investors looking for exposure to this red metal should check out

iPath Dow Jones-UBS Copper Total Return Subindex ETN

(JJC) - Get iPath Series B Bloomberg Copper Subindex Total Return ETN Report

, which is up 1.6%.

Other base metal and materials funds heading higher include

SPDR S&P Metals & Mining ETF

(XME) - Get SPDR S&P Metals & Mining ETF Report

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Market Vectors Steel ETF

(SLX) - Get VanEck Steel ETF Report


Market Vectors Coal ETF

(KOL) - Get VanEck Vectors Coal ETF Report


Investors playing this industry should continue to keep a close watch on China. This nation represents a large portion of the world's base material demand and will likely influence these commodities' direction.

SPDR S&P Emerging Europe ETF



While developed Europe remains embattled in its own debt issues, the emerging region of the continent is managing to find some strength, pushing GUR higher. This fund appears to be heading higher on upward trajectory since hitting 2010 lows at the end of May.

GUR tracks a basket of companies in five Eastern European nations. However, Russia is the main driver of the fund, representing 61% of its portfolio.


iShares MSCI Spain Index Fund

(EWP) - Get iShares MSCI Spain ETF Report


As I explained in my comments on GUR, developed Europe continues to face headwinds thanks to debt issues facing Spain, Greece and other EU constituents.

EWP has spent plenty of time on the winners and losers list over the past few months indicating the volatile nature of the fund. Investors should avoid playing these troubled nations until clearer skies prevail.

SPDR Regional Banking ETF

(KRE) - Get SPDR S&P Regional Banking ETF Report


The regional banking ETF is taking a big hit today as Obama signs Washington's sweeping financial reform bill into law. KRE's top holding,

Fulton Financial

(FULT) - Get Fulton Financial Corporation Report

, is down more than 10% today after failing to beat analyst expectations with its second-quarter earnings report.

iShares Dow Jones U.S. Medical Devices Index Fund

(IHI) - Get iShares U.S. Medical Devices ETF Report


The medical devices industry is taking a heavy hit today, led lower by top holdings including


(SYK) - Get Stryker Corporation Report


Boston Scientific

(BSX) - Get Boston Scientific Corporation Report

which are down 9.0% and 3.5% respectively. Together, these two firms account for 7% and 5% of the fund respectively.

Top holding


(MDT) - Get Medtronic plc. Report

, which represents a 13% position in IHI, is not holding up much better. It's down 3.3%.

All prices as of 2:16 PM EST.

-- Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion Money Management was long the iShares Dow Jones U.S. Medical Devices Index Fund.

Don Dion is president and founder of

Dion Money Management

, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Mass., Dion Money Management manages assets for clients in 49 states and 11 countries. Dion is a licensed attorney in Massachusetts and Maine and has more than 25 years' experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

Dion also is publisher of the Fidelity Independent Adviser family of newsletters, which provides to a broad range of investors his commentary on the financial markets, with a specific emphasis on mutual funds and exchange-traded funds. With more than 100,000 subscribers in the U.S. and 29 other countries, Fidelity Independent Adviser publishes six monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.