Dion's Weekly ETF Winners and Losers

NEW YORK (TheStreet) -- Here are this week's ETF winners and losers.

Winners

Guggenheim China Real Estate ETF (TAO) 5.8%

China's real estate industry continues to ramp higher, powering developers and ETFs heavily exposed to the industry to strong gains. Aside from TAO, the iShares MSCI Hong Kong Index Fund ( EWH) was another big mover this week.

China remains an exciting region of the market to watch, especially for investors looking for exposure to the emerging markets. Investing in the nation, however, has been tricky recently as inflation fears crop up.

Looking ahead, investors looking for China exposure should turn to the Guggenheim China Small Cap Index ETF ( HAO). By looking to the small caps, investors can access the strength of the nation's domestic population.

iShares S&P North American Technology-Multimedia Networking Fund (IGN) 5.3%

Although they stumbled into the close of the week, the U.S. marketplace witnessed a nice run during the opening week of 2011. Leading the way higher was the IGN which continues to benefit as tech remains a popular corner of the market.

Over the past week, IGN constituents such as Motorola ( MOT) and Research in Motion ( RIMM)(RIM) were in the news as droves of investors and consumers flocked to the Consumer Electronics Show to see what new developments and products they could expect to see in the coming future.

Motorola was also in the news this week as the company formerly announced its separation into the two firms: Motorola Solutions (MSI) and Motorola Mobility (MMI). These two new entities can be found underlying IGN, representing 5% and 4% of the fund respectively.

Guggenheim Arca Airline ETF (FAA) 5.0%

Airlines remain a risky region of the market, but this week they were flying high. United Continental ( UAL), FAA's largest component, performed particularly well this week, bolstered by news that the airline had reached a tentative labor agreement with the International Association of Machinists and Aerospace Workers.

FAA is a noticeably topheavy fund, dedicating over 40% of its index to its three top holdings. Investors looking for more stable long-term exposure to the airlines would be better off opting for the iShares Dow Jones Transportation Average Index Fund ( IYT).

Losers

Market Vectors Junior Gold Miners ETF (GDXJ) -9.3%

Although they managed to gain back some ground on Friday, the smallest members of the gold mining community still ended the week with heavy losses. Other ETFs aimed at the precious metals industry struggled as well. ETFS Physical Palladium Shares ( PALL) and iShares Silver Trust ( SLV) were two notable decliners.

Much of the downturn in these funds was likely due to investors taking profits on gold and other precious metals which have seen dramatic run-ups in recent weeks. I would advise investors to avoid unloading their shares entirely. Precious metals will provide strong protection in the event that the market takes a turn lower.

iShares MSCI Chile Investable Market Index Fund (ECH) -7.4%

This week, Chile's central bank announced a new round of monetary policy directed at tempering the Chilean peso's rampant ascension. So far, the intervention has had an effect, weakening the value of the currency. The Chilean markets have slipped as well, leading ECH to heavy losses this week.

Chile and the rest of Latin America remain attractive destinations for investors looking for international exposure. However, as long as the nation's government continues to interfere, I would advise investors to hold off.

iPath Dow Jones UBS Sugar Total Return Subindex ETN (SGG) -1.8%

After rallying throughout most of the latter half of 2010, sugar prices started out the week on a sour note, leading SGG to suffer some of the heaviest losses within the ETF realm. Despite this week's sell off, the agriculture industry remains a wildly popular region of the market to watch. Improving economic conditions in the developed world coupled with breakneck growth in many developing regions paints a strong picture for food demand. Investors looking for a taste of agriculture in 2011 should turn to either the futures-based PowerShares DB Agriculture Fund ( DBA) or the Market Vectors Agribusiness ETF ( MOO).

At the time of publication, Dion Money Management owned DBA.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

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