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.
Market Vectors High-Yield Muni ETF ( HYD) -2.0% ETFs designed to track the domestic municipal bond market have staged a dramatic retreat in recent days as investors act on default fears and California once again mulls ways to close its looming budget gap. California munis represent the largest slice of HYD's portfolio, making up over 13% of its portfolio. Although fixed income remains an attractive region of the markets, I would advise investors to opt for dividend paying equities and high yield corporate bonds over munis. All prices as of 2:16 PM EST Written by Don Dion in Williamstown, Mass.