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.

Winners

iShares MSCI Sweden Index Fund

(EWD) - Get Report

7.5%

Over the past three days, Sweden's markets have surged, helping EWD recover nearly all of the losses suffered during the two-week sell-off heading into Thanksgiving. This staggering climb has been impressive. However, it remains unclear as to whether or not these gains are sustainable. Continue to watch Europe-related ETFs from the sidelines.

Market Vectors Steel ETF

(SLX) - Get Report

7.4%

China's decision to slash its reserve requirement ratio is helping to drive SLX,

Market Vectors Coal ETF

(KOL) - Get Report

and other commodity-linked ETFs to industry-leading strength. As many have pointed out in the past, continued strength from the resource industry will hinge heavily on whether China can continue to experience stable economic growth.

By reducing the amount of cash banks are required to be set aside, China's central bank has opened the door to increased lending.

Market Vectors Junior Gold Miners ETF

(GDXJ) - Get Report

5.7%

A combination of rising market action and climbing gold prices are helping to lift gold miner-focused ETFs. The smaller, more volatile junior miners are leading the way higher, pushing back to its 50-day moving average. This could be an interesting point to watch; since breaking below in early September, the fund has bounced against this level on a number of occasions.

Losers

iPath S&P 500 VIX Short Term Futures ETN

(VXX) - Get Report

-7.5%

A barrage of encouraging news helped to lift investor spirits this morning, leading to another day of staggering market gains.

As individuals regain confidence in the global markets, the fear-tracking VIX index has taken a heavy shot across the bow. VXX has given back all of the gains from the second half of November.

United States Natural Gas Fund

(UNG) - Get Report

-1.9%

It can be difficult to locate losses with seemingly every corner of the marketplace rising. However, natural gas futures prices are bucking the trend. As a result, ETFs including UNG and the

iPath Dow Jones UBS Natural Gas Subindex Total Return ETN

(GAZ) - Get Report

are sliding lower.

iShares Barclays 20+ Year Treasury Bond Fund

(TLT) - Get Report

-1.4%

Investors are shunning defensive asset classes as fear falls by the wayside and investors regain an appetite for risk. This marks the fourth consecutive day of losses for TLT. This string of swift declines has brought the fund back to its 50-day moving average.

The U.S. dollar is taking a hit as well, pushing the

PowerShares DB U.S. Dollar Index Bullish Fund

(UUP) - Get Report

to losses.

All prices as of 2:14 PM EST

Written by Don Dion in Williamstown, Mass.

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At the time of publication, Dion Money Management owned the PowerShares DB U.S. Dollar Index Bullish Fund.