Dion's Wednesday 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.


ETFS Physical Palladium Shares ( PALL) 3.3%

After Tuesday's steep sell-off, major U.S. stock market indices are attempting to regain some lost ground. In response to this turn around, palladium prices are heading higher. This precious metal's links to industry causes it to behave in line with the broader markets.

PALL's gains come after a three days of declines pushed it to levels last seen in late-January.

iShares Dow Jones U.S. Home Construction Index Fund ( ITB) 3.3%

Both ITB and the SPDR S&P Homebuilder ETF ( XHB) descended to their 50-day moving average during yesterday's downturn. Mid-week, however, the two are staging a welcomed bounce.

While residential homebuilders are benefitting, the same cannot be said for REIT-focused funds. The iShares Cohen & Steers Realty Majors Index Fund ( ICF) and the iShares Dow Jones U.S. Real Estate Index Fund ( IYR) are relatively unchanged at mid-day.

Global X China Consumer ETF ( CHIQ) 2.6%

A heavy dose of uncertainty has been injected into China's stock market following news that the nation was cutting its growth forecasts. This news has created turmoil for CHIQ and a number of other products designed to track the emerging international growth engine.

CHIQ is enjoying a nice bounce, but clouds still linger. Use caution here.


iPath S&P 500 VIX Short Term Futures ETN ( VXX) -3.4%

The VIX and exchange traded products linked to the closely-watched benchmark took off on Tuesday as the major market indices headed to their steepest losses in 2012. As the selling pressure has subsided, however, these fear indicators have taken a breather.

Today's gains pushed the iPath S&P 500 VIX Mid Term Futures ETN ( VXZ) back through its 50-day moving average. It will be interesting to see if it can maintain these heights in the coming days.

iPath Dow Jones UBS Grains Subindex Total Return ETN ( JJG) -1.6%

Grain futures are witnessing shaky action in the days leading up to the Friday release of U.S. Department of Agriculture's crop report. This is weighing heavily on JJG, which is designed to track a combination of corn, wheat, and soybean contracts.

Not surprisingly, the Teucrium Corn ETF ( CORN) is also lagging during midweek trading.

United States Natural Gas Fund ( UNG) -1.4%

Natural gas prices are tumbling for a third day, leading UNG to carve out yet another all-time low. GAZ is taking a hit as well. However, the premium-laden ETN's losses come as it is in the process of testing previous 2012 highs.

GAZ's premium has grown to a staggering size, at over 100%. Buyer beware.

All prices as of 2:11 PM EST

Written by Don Dion in Williamstown, Mass.


At the time of publication, Dion Money Management owned iShares Dow Jones U.S. Real Estate Index Fund.