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.

Winners

iPath Dow Jones UBS Natural Gas Subindex Total Return ETN ( GAZ) 2.5%

Natural gas futures contracts are relatively unchanged, as indicated by the performance seen from the United States Natural Gas Fund ( UNG). Despite this tepid action, the premium-influenced GAZ ETN is heading higher. This week has been a rollercoaster for the trouble instrument. Investors who have tried their luck have and will continue to endure whipsaw action.

Market Vectors India Small Cap ETF ( SCIF) 2.3%

The fast-moving small cap India ETF is heading higher during mid-day trading, ending a five-day streak of losses. The fund's action will be interesting to watch in the coming days. It has struggled against its 200-day moving on a number of occasions since dipping below in late-February.

Other India-related funds including the WisdomTree India Earnings Fund ( EPI) and the iShares S&P India Nifty 50 Index Fund ( INDY) are also seeing gains.

Global X Silver Miners ETF ( SIL) 1%

The silver miner ETF is seeing strength following Tuesday's downturn. Meanwhile, the bullion-backed iShares Silver Trust ( SLV) is seeing only limited action to the upside.

Other industry-linked members of the precious metal spectrum are floundering. Both the ETFS Physical Palladium Shares ( PALL) and the ETFS Physical Platinum Shares ( PPLT) funds are in negative territory.

iShares MSCI Mexico Investable Market Index Fund ( EWW) 0.9%

An earthquake created some turmoil for the Mexico's marketplace on Tuesday. However, as we head into the middle of the week, the EWW has been quick to recover any lost ground.

Latin America has flown under the radar as investors have remained focused on macroeconomic developments taking place elsewhere in developing world like China.

Losers

Market Vectors Solar Energy ETF ( KWT) -4.6%

The solar energy industry has seen a good deal of back-and-forth action as global growth concerns have rekindled. Trina Solar ( TSL), Suntech Power Holdings ( STP) and Yingli Green Energy ( YGE) are among the biggest decliners. All three are off over 5%. YGE is suffering a 10% loss.

iPath S&P 500 VIX Short Term Futures ETN ( VXX) -4.6%

Stock market indices are following up Tuesday's weak action with another round of choppiness. Despite the red seen across the board, investor confidence appears intact. Both VXX and the VIX benchmark index are heading into negative territory.

VXX has had two strings of five-day losses in March.

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