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 India Small Cap Index ETF ( SCIF) 3.5%

The small-cap-focused India ETF struggled throughout the opening quarter of 2011 as corruption issues in India stoked fears, and investor interest in emerging markets seesawed. In the closing weeks of March, however, SCIF has staged an impressive rebound and has managed to recover back to levels seen in late January.

iShares MSCI Turkey Investable Market Index Fund (TUR) 3.1%

March proved to be a strong month for the Turkey ETF, which has struggled since late 2010. Friday's gains have helped the fund recover back above its 200-day moving average and revisit levels seen in mid-January. Turkey has been an interesting fund to watch as political unrest continues to rage in the Middle East and Northern Africa.

iShares MSCI Thailand Investable Market Index Fund (THD) 2.3%

ETFs designed to target emerging Asian nations are jumping today, led by THD. The iShares MSCI South Korea Index Fund ( EWY) and iShares MSCI Indonesia Investable Market Index Fund ( EIDO) are two other funds that are gaining ground.

The Indonesian marketplace appears to be benefiting today after learning that the nation's inflation eased during March.


iPath Dow Jones UBS Cotton Subindex Total Return ETN (BAL) -2.9%

Cotton prices are taking a shot across the bow on the opening day of April, leading the futures-based BAL to heavy losses. This crop is being pressured after a USDA report forecasted that production would jump over 20% in the 2011-2012 growing season.

iPath S&P 500 VIX Short Term Futures ETN (VXX) -1.9%

The fear-based VIX ETNs are sinking for another day as we head into the weekend. Despite the various headwinds facing regions of the globe, the VXX has stuck to a fast and steep downward trajectory. The fund is currently flirting with previous all time lows.

United States Natural Gas Fund (UNG) -1.4%

Yesterday, UNG managed to trek higher despite a less than positive storage report from the Energy Information Administration. The fund is struggling to hold onto those gains, however, and looks set to end the week on a sour note. Meanwhile, thanks to its heavy premium the iPath Dow Jones UBS Natural Gas Subindex Total Return ETN ( GAZ) is up 1.4%.

iShares S&P North American Technology-Multimedia Networking Index Fund (IGN) 1.7%

Since dipping below its 50-day moving average in early March, the IGN has struggled to regain its previous footing.

Closely-watched index component, JDS Uniphase (JSDU) is among the industry's biggest decliners on Friday. JDSU is listed among IGN's top ten holdings and accounts for nearly 5% of its index.

A handful of holdings outside of IGN's top ten are facing pressure as well. Finisar ( FNSR) and F5 Networks ( FFIV) are leading decliners.

All prices as of 2:17 PM EST

At the time of publication, Dion owned THD.