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 Philippines Investable Market Index Fund

(EPHE) - Get Report

3.1%

A slew of emerging Asia ETFs are finding themselves at the top of the winners list. In addition to EPHE, the

iShares MSCI Indonesia Investable Market Index Fund

(EIDO) - Get Report

and the

iShares MSCI Malaysia Index Fund

(EWM) - Get Report

are pushing higher.

Not all parts of this region are gaining ground. The

Market Vectors Vietnam ETF

(VNM) - Get Report

is tumbling to a second day of losses, dipping over 1.5%.

iShares Dow Jones U.S. Home Construction Index Fund

(ITB) - Get Report

3.4%

After locking in some of the heaviest losses in the ETF universe Tuesday, Blackrock's homebuilder ETF is rebounding. The

SPDR S&P Homebuilder ETF

(XHB) - Get Report

is again seeing relatively contained action compared to ITB. As we head towards the end of the session, the fund has gained only 2%.

ProShares UltraShort 20+ Year Treasury Bond ETF

(TBT) - Get Report

1.2%

Despite the fact that major U.S. market indices are struggling to push higher, investors are showing disinterest towards safe havens like long-term U.S. Treasuries. Shares of the

iShares Barclays 20+ Year Treasury Bond Fund

(TLT) - Get Report

are down around 0.5%, retreating back below its closely-watched 50-day moving average.

Losers

Market Vectors Solar Energy ETF

(KWT)

-3.5%

The solar energy sector appears to have staged a dramatic about face in recent weeks, reminding investors of its inherently volatile nature.

With Wednesday's decline, KWT has once again broken through its 50-day moving average. In the days ahead, it will be interesting to see if this is only a short term test, or if the fund is due to head lower.

iPath Dow Jones UBS Natural Gas Subindex Total Return ETN

(GAZ) - Get Report

-4.7%

GAZ continues to swing wildly as the fund's staggering premiums magnifies fluctuations. At the same time that the disconnected ETN is taking a shot across the bow, the

United States Natural Gas Fund

(UNG) - Get Report

is heading higher, locking in some of the strongest gains across the entire ETF industry.

Energy producers are facing pressure at mid-week, leading the

SPDR S&P Oil & Gas Exploration & Production ETF

(XOP) - Get Report

to notable losses.

iShares Silver Trust

(SLV) - Get Report

-5.4%

Precious metals are taking a beating, with bullion-tracking products like SLV and the

iShares Gold Trust

(IAU) - Get Report

taking the brunt of the hit.

Miners are not immune to the pain, however. The

Market Vectors Junior Gold Miners ETF

(GDX) - Get Report

and the

Global X Silver Miners ETF

(SIL) - Get Report

are both in negative territory. The pain is extending into all reaches of the mining industry; the

SPDR S&P Metals & Mining ETF

(XME) - Get Report

is nearing its February lows.

All prices as of 2:11 PM EST

Written by Don Dion in Williamstown, Mass.

RELATED ARTICLES:

>>Sirius XM Could Be Acquired

>>Why First Solar Is a Worthless Stock

At the time of publication, Dion Money Management owned iShares Gold Trust.