Dion's Monday 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 Natural Gas Total Return Subindex ETN ( GAZ) 6.0%

Despite the market weakness heading off this week, investors are piling into the natural gas industry in hopes of taking advantage of both low prices and unseasonably cold weather in the northeastern United States.

GAZ continues to be a fund to look out for. Although its premium has been pared back a bit from its earlier highs, at 8%, this fund remains disconnected from its underlying assets.

Global X Silver Miners ETF ( SIL) 4.1%

Precious metals are jumping today in light of the shaky start to the week. While SIL is leading the industry, physically-based products such as ETFS Physical Palladium Shares ( PALL) and iShares Silver Trust( ( SLV) are also enjoying positive gains.

Gold prices tested the $1,400 per ounce level today, leading Market Vectors Junior Gold Miners ETF ( GDXJ) and its large-cap cousin, Market Vectors Gold Miners ETF ( GDX) to gains as well.

Market Vectors Nuclear Energy ETF ( NLR) 2.9%

The nuclear energy industry is also heading higher today, powering NLR to nice gains. In this morning's "Five ETFs to Watch," I noted that industry leader Cameco ( CCJ) would be an important player to watch this morning in light of its quarterly earnings report. As of early this afternoon, the firm is up 5%.

Fellow energy-related ETF, Market Vectors Coal ETF ( KOL) is gaining ground as well.

Fellow energy-related ETF, Market Vectors Coal ETF ( KOL) is gaining ground as well.

iPath S&P 500 VIX Short Term Futures ETN ( VXX) 1.4%

Last week, VXX was the ETF industry's biggest decliner, losing 15% of its value during its four-day streak of losses. Today, however, VXX is at last finding some strength, erasing some of these losses.

Market volatility persists but I expect the VIX-based ETN to continue to throw investors for a loop.

Losers

Market Vectors Russia ETF ( RSX) -1.7%

A number of ETFs designed to track various members of the international community are mimicking the U.S. and heading south today. Leading the global retreat are funds designed to track members of the popular BRIC acronym. RSX and Market Vectors Brazil Small Cap ETF ( BRF) , and the iShares S&P India Nifty Fifty Index Fund ( INDY) are among the biggest laggards.

iShares MSCI Spain Index Fund ( EWP) -1.0%

Ireland's debt issues have been of particular interest recently, causing resurgence in fears over the EU's strength. Investors should continue to steer clear of funds aimed at tracking the most volatile members of the bloc. It is likely that the performance of products such as EWP will remain choppy as we head to the close of 2010.

All prices as of 2:15 PM EST

Written by Don Dion in Williamstown, Mass.

At the time of publication, Dion Money Management was long Market Vectors Gold Miners ETF.

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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