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.


iPath Dow Jones UBS Cotton Total Return Subindex ETN ( BAL) 4.3%

Cotton prices are heading higher on Friday, leading BAL to break out of the sideways channel it has stuck to throughout the opening weeks of 2011.

Sugar is also seeing notable gains, with iPath Dow Jones UBS Sugar Total Return Subindex ETN ( SGG) heading higher as well.

iShares MSCI Spain Index Fund ( EWP) 2.1%

The Spain ETF has staged a dramatic ascension over the past week, as European debt fears are placed on the back burner.

Strength from top holding Banco Santander ( STD) has played a major part in lifting EWP back to levels seen in October. The $42 level has been a region of resistance for the fund over the past year. Keep a close watch and tread carefully.

SPDR KBW Bank ETF ( KBE) 1.5%

The bank ETF is closing out the shaky week on a strong note, shrugging off today's less-than-optimistic earnings report from Bank of America ( BAC). Earnings season has been a jittery one for financial ETFs as company performances range from big beats to noteworthy losses.

With earnings reports for many major players out of the way, it will be interesting to see how KBE performs next week.


iShares MSCI Thailand Investable Market Index Fund ( THD) -2.6%

Many nations hailing from Southeast Asia are getting battered today, including Thailand, Indonesia and South Korea. In response, funds including THD, iShares MSCI South Korea Index Fund ( EWY) and Market Vectors Indonesia ETF ( IDX), are taking some of the heaviest losses.

Vietnam is a noticeable exception, with Market Vectors Vietnam pulling off one of the ETF industry's strongest gains today.

SPDR S&P Biotech ETF ( XBI) -1.3%

Biotech-related ETFs, including XBI and the First Trust NYSE Arca Biotechnology Index Fund ( FBT), are heading lower today. Two companies weighing heavily on the industry today are Biogen ( BIIB) and Acorda ( ACOR). The two firms are getting hit on Friday after news that European regulators voted against the approval of their multiple sclerosis drug.

Given the rollercoaster nature of biotechnology firms, investors should use caution when venturing into this region of the markets.

Market Vectors Coal ETF ( KOL) -1.3%

The coal industry is taking a hit today, prolonging KOL's retreat back to its 50-day moving average. The fund initially broke above this level in September.

Looking to the next week, KOL will be in play as major holdings Consol Energy ( CNX) and Peabody Energy ( BTU) announce their quarterly earnings reports. The Australian floods and economic issues in China will likely influence the fund's performance as well.

All prices as of 2:16 PM EST
At the time of publication, Dion Money Management held no positions in stocks mentioned.

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.