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iShares MSCI All Peru Capped Index Fund ( EPU) 4.1%

The Peru ETF is rebounding after yesterday's steep decline. Despite today's gains, the fund still has a considerable amount of ground to cover before it returns to levels witnessed at the start of the month. The fund's April downturn has been fueled by concerns stemming from the nation's political elections.

iShares Silver Trust ( SLV) 1.2%

Silver prices are heading higher into the close of the week, pushing SLV to its third day of gains. The Global X Silver Miners ETF ( SIL), which tracks a basket of silver producers, is benefiting from both silver's jump and general strength across the markets.

Precious metals, including silver and gold, remain attractive destinations for investors looking to protect against market turmoil and the threat of inflation.

Market Vectors Indonesia ETF ( IDX) 1.5%

The Indonesia ETF has seen back and forth action over the past week, but appears set to close out Friday on a strong note. Since February, the fund has stuck to a strong upward trajectory that has helped it lock in brand new 2011 highs.

Emerging markets remain attractive, but investors should use caution when venturing into these regions. Inflation concerns could magnify their inherently volatile nature.


iPath S&P 500 VIX Short Term Futures ETN (VXX) 2.4%

Broad market strength is causing the fear-based VIX ETNs to slump as we head into the close. VXX's dip on Friday has pushed the fund back to its previous all-time lows.

Although it has fared better than VXX, the iPath S&P 500 VIX Mid Term Futures ETN ( VXZ) is in negative territory as well. The fund has struggled in recent weeks to regain levels above its 50-day moving average.

PowerShares India Portfolio ( PIN) -1.8%

India-related ETFs have struggled throughout the year as inflation and corruption concerns pressure the nation's markets. On Friday, PIN suffered notable losses after Infosys ( INFY) released a negative earnings report. During early afternoon trading the firm was down over 14%.

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Dion's Friday ETF Winners and Losers