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

Winners

iPath S&P 500 VIX Short Term Futures ETN ( VXX) 4.1%

The fear-tracking VIX index has witnessed a four-day bounce off of its 200-day moving average. This strength, however, has not translated over to VXX. The ETN has floundered, suffering seven consecutive days of declines, resulting in a retreat to November lows.

Wednesday's upward action has helped to snap this losing streak. With eyes set on the European summit at the end of the week, it will be interesting to see how investors sentiment fares.

iShares MSCI Thailand Investable Market Index Fund ( THD) 1.8%

Thailand's markets have enjoyed four solid days of gains, pushing THD back to its 200-day moving average. The last time this level was tested was early September. It will be interesting to see if the fund's rally can continue in the days ahead.

Turkey is another notable international gainer. The iShares MSCI Turkey Investable Market Index Fund ( TUR) is up over 1% in early afternoon trading.

ETFS Physical Palladium Shares ( PALL) 1.5%

Trading got off to a rocky start this morning. This choppy action is doing little to slow palladium's ascension, however, as PALL locks in leading gains. This physically based commodity ETF has overtaken its November highs and is currently trading at levels last seen during the latter half of October.

Fellow industry-linked precious metals ETFs iShares Silver Trust ( SLV) and ETFS Physical Platinum Shares ( PPLT) are seeing losses.

Losers

United States Natural Gas Fund ( UNG) -1.6%

Energy-related ETFs are struggling to gain ground in this jittery market environment. Aside from futures-linked UNG, losses can also be seen from equity-tracking products as well. The iShares Dow Jones U.S. Oil Equipment & Services Index Fund ( IEZ) and PowerShares Dynamic Oil & Gas Services Fund ( PXJ) are both in negative territory.

iShares MSCI Italy Index Fund ( EWI) -1.1%

Last week's rally helped EWI recover above its 50-day moving average. The fund is struggling to hold onto this level, however, as investors continue to express concerns about the macroeconomic factors facing the region.

This is an important week for the EU as leaders convene in Brussels. Conservative investors should monitor the action from the sidelines.

SPDR S&P Biotech ETF ( XBI) -1.2%

Biotechnology stocks are running into headwinds, pushing XBI and the First Trust NYSE Arca Biotechnology Index Fund ( FBT) to their second day of losses.

Health care is often pointed to as a popular safe haven. Given the inherent volatility of biotechnology stocks, however, exposure to XBI and FBT must be watched carefully.

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 did not own any equities mentioned.

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