Dion's Monday ETF Winners and Losers

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) 2.1%

Concerns about Greece's debt situation have helped the new week get off to a shaky start. Disappointing news regarding consumer spending habits at home are doing little to lighten the mood.

Both VXX and the VIX index are benefiting from the stock market slide; VXX's gains follow the ETN's three-day string of losses.

iShares Barclays 20+ Year Treasury Bond Fund ( TLT) 1.7%

Long-term U.S. treasuries are finding footing as sliding stock market indices drive investors into safe havens, propelling TLT back through its 50-day moving average.

On the other side of the coin, the inverse leveraged ProShares UltraShort 20+ Year Treasury Bond ETF ( TBT) is falling back below its own 50-day moving average.

Market Vectors Vietnam ETF ( VNM) 1.1%

While Europe's turmoil is weighing on markets across globe, one country that appears to be bucking the trend is Vietnam. Rather than following the lead of funds like the Market Vectors Indonesia ETF ( IDX) and the iShares MSCI Thailand Investable Market Index Fund ( THD), VNM is moving independently and locking in its highest levels since mid-November.

Losers

iShares MSCI Austria Investable Market Index Fund ( EWO) -2.9%

Three days of strength pushed the Austria ETF to its highest levels since early November. Reignited euro-zone fears, however, have put an end to the optimism and EWO has given back much of these gains.

EWO is not alone, however. ETFs linked to nations across the troubled monetary bloc are finding themselves in negative territory.

Global X Copper Miners ETF ( COPX) -2.9%

Market-linked industries are slumping as shaky action drives investors out of risk. Materials-producers like those underlying COPX and the Market Vectors Coal ETF ( KOL) are among the hardest hit.

KOL will be interesting to watch in the days ahead as the fund flirts with its December, 2011 highs. The last time this level was tested, it showed to be a point of resistance.

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