Dion's Thursday ETF Winners and Losers

NEW YORK (TheStreet) -- Welcome to Don Dion's "ETF Winners and Losers." Be sure to stop by during the week to find out which ETFs are gaining or losing.

Winners

iPath Dow Jones UBS Natural Gas Subindex Total Return ETN ( GAZ) 2.3%

GAZ and other futures-linked natural gas exchange traded products suffered standout losses during Wednesday's big rally. Heading into December, however, these funds are rebounding, locking in some of the strongest gains in the ETF universe.

ETFS Physical Palladium Shares ( PALL) 3.1%

Thanks to a four-day rally, the palladium-tracking PALL has managed to recover most of the losses suffered from its late-November sell off. The same upward action is not seen in other physically-based precious metal ETFs: iShares Gold Trust ( IAU), iShares Silver Trust ( SLV) and ETFS Physical Platinum Shares ( PPLT) were relatively unchanged during early afternoon trading.

iShares MSCI Brazil Index Fund ( EWZ) 1.7%

The Brazilian marketplace is up again today. Other members of the BRIC emerging market acronym are heading higher as well, including the iShares FTSE China 25 Index Fund ( FXI), which is more than 1%.

Losers

iShares MSCI Turkey Investable Market Index Fund ( TUR) -2.8%

The Turkey ETF has moved back and forth throughout the past week as it works to regain some of the losses suffered during its November decline.

Given Turkey's proximity to the EU, shares of TUR will likely be particularly more susceptible to swings in the near term. Use extreme caution here.

The iShares MSCI Austria Investable Market Index Fund ( EWO) is also suffering standout losses.

iPath S&P 500 VIX Short Term Futures ETN ( VXX) -2.5%

The markets may be seeing mixed action as we approach the weekend, but fear remains on the sidelines. Both VXX and the VIX index are starting off the final month of the year at November lows. It will be interesting to see if confidence continues to hold in the days ahead.

iShares MSCI New Zealand Investable Market Index Fund ( ENZL) -1.9%

The New Zealand ETF came into today's trading session with three solid days of upward action under its belt. The rally, however, appears to have taken a breather with the fund struggling to power above its 50-day moving average.

Investors should exercise caution when considering exposure to ENZL. The fund's index is noticeably top heavy. Its two largest holdings: Telecom Corp of New Zealand ( NZT) and Fletcher Building together comprise over one-third of the fund's total assets.

All prices as of 2:14 PM EST

Written by Don Dion in Williamstown, Mass.

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At the time of publication, Dion Money Management owned iShares Gold Trust.

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