Dion's Wednesday ETF Winners and Losers

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 Dow Jones-UBS Grains Total Return Subindex ETN ( JJG) 2.9%

The grain-focused ETN is rallying today as well thanks to a strong jump in wheat prices. This crop's gain stems supply fears in Russia, where drought conditions are threatening to constrict farmers' yields.

Throughout July, the grains have seen an impressive rally, pulling broader agriculture funds such as PowerShares DB Agriculture ETF ( DBA) along for the ride.

United States Natural Gas Fund ( UNG) 1.6%

Warm weather forecasts are helping to lift natural gas prices on Wednesday, powering UNG higher.

In the near future, natural gas will be in the limelight as Washington Democrats and Republicans gear up to do battle over energy and oil reform.

According to the Senate bill's current text, natural gas is expected to be a major beneficiary as lawmakers look to provide incentives for natural gas vehicles.

While attractive on paper, UNG will face strong headwinds in the near future as regulators crack down on futures trading. Investors should look to First Trust ISE-Revere Natural Gas Index ETF ( FCG) to play the fuel.

PowerShares DB Base Metals Portfolio ( DBB) 1.4%

After yesterday's hiccup, base metals appear to have returned to their upward path, testing levels seen right before its early June breakdown.

Copper is doing its part to keep this fund up. iPath Dow Jones-UBS Copper Total Return Subindex ETN ( JJC) is up 1.4% today.

Losers

iShares Dow Jones U.S. Home Construction Index Fund ( ITB) -2.5%

Home construction firms are tumbling for the second day in a row on Wednesday.

After the bell today, investors will look to top 10 holding Ryland Group ( RYL) for its second-quarter earnings report. Investors do not appear overly optimistic however, as shares of RYL are currently down more than 5%.

SPDR S&P Biotech ETF ( XBI) -1.8%

The biotech industry began this week on a high note, with XBI powering through its 200-day moving average for the first time since mid June. However, the past two days have been rocky for the fund.

Leading the industry lower today are Cephalon ( CEPH) and United Therapeutics ( UTHR). Both firms are down more than 6%.

iShares Dow Jones U.S. Healthcare Providers Index Fund ( IHF) -1.4%

The healthcare provider ETF has been bashed around over the past week, carving out new 2010 lows on Wednesday.

One of the biggest drags on this fund's performance today is Wellpoint ( WLP), which is struggling to stabilize after reporting its second-quarter earnings report. The stock is getting knocked despite beating analyst expectations and raising its outlook.

Market Vectors Vietnam ETF ( VNM) -1.1%

Throughout July and much of June, the Vietnam ETF has traded in a sideways manner, indicating little direction.

Southeast Asian country ETFs are some of the best performing ETFs this year, but VNM has yet to join them.

All prices as of 2:14 PM EST

-- Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion Money Management did not own any equities mentioned.

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.

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