Weekly Channel Summary
The Leveraged & Inverse ETF channel currently stands at a total Assets Under Management (AUM) of $139.29B, distributed across 566 individual ETFs and managed by 24 active issuers. Over the past week, the channel has seen robust activity with 5-Day Flows bringing in $2.16B. This recent surge bolsters the Year-To-Date (YTD) net flows to $2.80B, helping the space recover against longer-term 1-Year Flows, which remain slightly negative at -$0.35B.
This Week’s Performance Leaders and Laggards
This week presented a significant divergence in returns, driven largely by volatility in the commodities and natural resources sectors rather than core equities. The “action” was heavily concentrated in the energy and metals spaces. Commodity: Focused – Energy and Equity: Sector – Energy led the upside with category week-to-date returns of +6.54% and +2.83% respectively. On the flip side, precious metals faced extreme downside pressure. The Equity: Thematic – Precious Metals category collapsed by -14.30%, and Commodity: Focused – Precious Metals dropped -9.98%. This dramatic dispersion underscores the intense risk-reward profile of using geared products in cyclical commodity segments.
Top & Bottom 5 ETFs by Weekly Performance
Benefiting from the plunge in precious metals, the single best-performing ETF this week was the MicroSectors Gold Miners -3X Inverse Leveraged ETN (GDXD), soaring a remarkable +51.92%. Conversely, the bullish side of the trade suffered massive drawdowns; the two worst-performing funds were the MicroSectors Gold Miners 3X Leveraged ETN (GDXU), which cratered -39.72%, and the Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG), down -29.50%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | 51.92% |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | 35.92% |
| DULL | MicroSectors Gold -3X Inverse Leveraged ETNs | 35.82% |
| ZSL | ProShares UltraShort Silver | 33.15% |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | 32.40% |
| Bottom Performers | ||
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | -39.72% |
| JNUG | Direxion Daily Junior Gold Miners Index Bull 2X ETF | -29.50% |
| SHNY | MicroSectors Gold 3X Leveraged ETNs | -28.98% |
| AGQ | ProShares Ultra Silver | -27.36% |
| NUGT | Direxion Daily Gold Miners Index Bull 2X ETF | -27.02% |
Analyzing the Weekly Flows
Across the board, the channel experienced robust net inflows totaling $2.16B over the last 5 days. The Leverage | Inverse – Equity category dominated capital gathering, pulling in $1,061M and bringing its total AUM to a massive $98.78B. Additionally, Leverage | Inverse – Single Stock continued its strong momentum, attracting $658M in new money. Notably, while no major composite grouping saw net negative flows this week, digging into specific multiplier bands reveals that 1.5x Leveraged strategies experienced minor outflows totaling -$49M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Equity | 192 | $98,778M | $1,061M | $3,981M | -$4,975M | -$3,497M | -$15,080M |
| Leverage | Inverse – Single Stock | 315 | $26,813M | $658M | $898M | $4,659M | $3,885M | $8,521M |
| Leverage | Inverse – Commodity | 16 | $6,201M | $283M | $783M | $2,539M | $2,308M | $2,948M |
| Leverage | Inverse – Fixed Income | 15 | $3,916M | $86M | $231M | -$827M | -$764M | -$1,683M |
| Leverage | Inverse – Crypto | 21 | $3,578M | $68M | $266M | $851M | $847M | $4,922M |
Top & Bottom 5 ETFs by 5-Day Flow
At the individual fund level, the ProShares UltraPro QQQ (TQQQ) was an absolute magnet for capital, gathering a massive $848M. Meanwhile, investors aggressively reduced exposure to semiconductors, pulling -$540M from the Direxion Daily Semiconductor Bull 3X ETF (SOXL), marking it as the fund with the heaviest outflows, followed by the ProShares UltraPro Short QQQ (SQQQ) at -$88M.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| TQQQ | ProShares UltraPro QQQ | $848M |
| SCO | ProShares UltraShort Bloomberg Crude Oil | $238M |
| SSO | ProShares Ultra S&P 500 | $209M |
| SH | ProShares Short S&P500 | $144M |
| QLD | ProShares Ultra QQQ | $137M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | -$540M |
| SQQQ | ProShares UltraPro Short QQQ | -$88M |
| UCO | ProShares Ultra Bloomberg Crude Oil | -$56M |
| KOLD | ProShares UltraShort Bloomberg Natural Gas | -$53M |
| TECL | Direxion Daily Technology Bull 3X ETF | -$40M |
Issuer League Table Update
The issuer landscape remains heavily concentrated, with the top 2 brands—ProShares (46.92%) and Direxion (34.69%)—commanding over 81% of the channel’s total market share. Aligning with its position as the market leader, ProShares capitalized on the weekly volume, gathering the most inflows at $1,703M. At the other end of the spectrum, Tradr faced the most significant investor withdrawals among top issuers, shedding -$107M over the past 5 days.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $65.36B | 46.92% |
| Direxion | 124 | $48.32B | 34.69% |
| GraniteShares | 39 | $7.40B | 5.32% |
| REX Microsectors | 19 | $5.74B | 4.12% |
| Tradr | 59 | $3.12B | 2.24% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| ProShares | $1,703M |
| GraniteShares | $279M |
| Defiance | $118M |
| Outflows | |
| Tradr | -$107M |
| USCF | -$4M |
| Founder | $0M |
For a deeper dive into these trends, access our FREE, in-depth Leverage | Inverse ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
