Dion's Friday 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

iShares Dow Jones U.S. Home Construction Index Fund ( ITB) 4.7%

The homebuilders are reveling in the market's strength, pushing funds like ITB and the SPDR S&P homebuilder ETF ( XHB) to some standout gains. Friday's action marks ITB's third consecutive day of gains.

Overall, it has been a good week for this fund. It is currently trading at its highest levels since the start of 2011. Looking to the week ahead, it will be interesting to see if the strength continues.

iShares Dow Jones U.S. Broker-Dealers Index Fund ( IAI) 3.1%

A strong jobs number has ignited confidence, driving investors back into market-correlated industries. Financials are seeing particularly impressive action; funds like IAI and the iShares Dow Jones U.S. Financial Services Index Fund ( IYG) are sitting in solid positive territory. IAI is trading above its 200-day moving average for the first time since late May.

Alternative energy is also benefiting from the market's late-week strength. The PowerShares WilderHill Clean Energy Portfolio ( PBW) is up around 3.0%

WisdomTree India Earnings Fund ( EPI) 2.7%

The market strength is extending beyond the borders of the United States. As confidence improves, investors are regaining an appetite for emerging markets. India's markets are seeing particularly impressive strength. EPI has pushed higher for four days straight. In 2012, the fund has seen only three days of losses.

Losers

iPath S&P 500 VIX Short Term Futures ETN (VXX) -4.1% Fear is falling by the wayside as this morning's jobs report provides evidence of improving economic conditions. The closely-watched VIX index has tumbled to new 2012 lows, breaking to levels last seen in July. In response to this downward action, VXX is locking in its third day of losses.

iShares Barclays 20+ Year Treasury Bond Fund ( TLT) -2.4%

Investors have adopted a "risk-on" mentality following this morning's strong economic reports. As a result, defensive asset classes like long term U.S. Treasuries are being shunned, pushing TLT back below its 50-day moving average.

On the other hand, the ProShares UltraShort 20+ Year Treasury Bond ETF ( TBT) is pushing higher, nearing its 2012 highs.

ETFS Physical Silver Shares ( SIVR) -1.7%

Precious metals have spent most of 2012 powering higher alongside stocks. During Friday's trading action, however, a number of notables are struggling to keep up. In addition to bullion-backed funds like SIVR and the iShares Gold Trust ( IAU), miner-tracking funds like the Market Vectors Junior Gold Miners ETF ( GDXJ) are also taking losses.

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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