NEW YORK ( TheStreet) -- Here are five ETFs to watch this week.Market Vectors Vietnam ETF ( VNM) The ongoing drama facing China and the European Union continues to dominate international market discussions. Meanwhile, other corners of the globe have managed to fly under the radar. Vietnam's marketplace, for example, has surged, pushing VNM to some of the most substantial gains in our long-term momentum rankings.
iShares MSCI Spain Index Fund ( EWP) For another week, Spain will be a major player to watch as investors and market commentators attempt to determine what's next in the ongoing European drama. Last week was a tumultuous one for the troubled EU member; in addition to learning that its unemployment rate is hovering around 25%, the country was slapped with a downgrade courtesy of Standard & Poor's. >>Europe's Bank Storms Headed to U.S. The trials facing Spain and the rest of this monetary bloc are far from resolved. It may be tempting for investors to try and game a potential turnaround, but I urge them to hold off. It is difficult to forecast the day-to-day fluctuations from products like EWP and the iShares MSCI Italy Index Fund ( EWI); overzealous investors risk taking some substantial hits here. Written by Don Dion in Williamstown, Mass.