Weekly Channel Summary
The Leverage & Inverse channel encompasses 778 ETFs from 25 issuers, with total assets under management standing at $179.4 billion. This week, the channel attracted net inflows of $770 million, contributing to a year-to-date total of $5.6 billion. Over the past twelve months, these tactical products have gathered a net $1.2 billion from investors.
This Week’s Performance Leaders and Laggards
Commodity-focused products led performance this week, with the Leverage | Inverse – Commodity category gaining 2.22%. On the other end of the spectrum, Leverage | Inverse – Fixed Income funds struggled, posting an average weekly loss of -2.78%. Despite a minor dip this week, the Leverage | Inverse – Single Stock category remains the standout performer year-to-date, with a remarkable gain of 119.63%.
Top & Bottom 5 ETFs by Weekly Performance
It was a strong week for gold miner bulls, as the MicroSectors Gold Miners 3X Leveraged ETN (GDXU) surged 15.75% to become the top-performing fund. Conversely, its inverse counterpart, the MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD), was the worst performer with a loss of -17.63%. Another notable gainer was the Direxion Daily Dow Jones Internet Bear 3X ETF (WEBS), which climbed 12.56% amid weakness in internet stocks.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | 15.75% |
| COPZ | Defiance Daily Target 2X Long Copper Miners ETF | 12.68% |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | 12.56% |
| DFEN | Direxion Daily Aerospace & Defense Bull 3X ETF | 12.29% |
| OILU | MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN | 12.08% |
| Bottom Performers | ||
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -17.63% |
| WANT | Direxion Daily Consumer Discretionary Bull 3X ETF | -15.62% |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -12.31% |
| CARU | MAX Auto Industry 3X Leveraged ETN | -11.95% |
| WEBL | Direxion Daily Dow Jones Internet Bull 3X ETF | -11.85% |
Analyzing the Weekly Flows
The channel recorded net inflows of $770 million, with demand heavily concentrated in a single category. Leverage | Inverse – Equity funds were the primary driver, attracting $739 million in new assets. Meanwhile, Leverage | Inverse – Single Stock funds experienced the largest net redemptions, shedding $55 million over the period.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Equity | 229 | $132.43B | $739M | $6,006M | -$1,335M | -$14,012M | -$27,600M |
| Leverage | Inverse – Fixed Income | 15 | $3.09B | $86M | $146M | -$239M | -$1,235M | -$2,695M |
| Leverage | Inverse – Commodity | 22 | $4.04B | $25M | $9M | $3,354M | $5,600M | $6,392M |
| Leverage | Inverse – Crypto | 28 | $3.07B | -$25M | -$64M | $184M | $1,350M | $4,856M |
| Leverage | Inverse – Single Stock | 483 | $36.72B | -$55M | $417M | $11,138M | $13,875M | $20,204M |
Top & Bottom 5 ETFs by 5-Day Flow
The Direxion Daily Semiconductor Bull 3X ETF (SOXL) was the week’s most popular fund, pulling in $562 million in fresh capital. In contrast, significant outflows were seen from single-stock products, with the Tradr 2X Long SNDK Daily ETF (SNXX) losing $220 million. The Direxion Daily MU Bull 2X ETF (MUU) also faced heavy redemptions, with outflows totaling $207 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | $562M |
| TSLL | Direxion Daily TSLA Bull 2X ETF | $486M |
| TQQQ | ProShares UltraPro QQQ | $182M |
| GGLL | Direxion Daily GOOGL Bull 2X ETF | $118M |
| PSQ | ProShares Short QQQ | $91M |
| Outflows | ||
| SNXX | Tradr 2X Long SNDK Daily ETF | -$220M |
| MUU | Direxion Daily MU Bull 2X ETF | -$207M |
| NVDL | GraniteShares 2x Long NVDA Daily ETF | -$207M |
| SSO | ProShares Ultra S&P 500 | -$107M |
| MSFU | Direxion Daily MSFT Bull 2X ETF | -$57M |
Note: the following fund(s) were excluded from the flow totals above because the weekly flow exceeds 75% of the fund’s AUM and may be the result of a custom rebalance: SKHU ($62M).
Issuer League Table Update
The issuer landscape remains highly concentrated, with ProShares (44.6% share) and Direxion (36.8% share) controlling the vast majority of assets. Direxion was the clear winner in the weekly flows race, attracting a substantial $938 million in net inflows. On the other hand, Tradr experienced the largest net outflows among issuers, with investors pulling $188 million from its funds.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 112 | $79.98B | 44.58% |
| Direxion | 124 | $66.08B | 36.83% |
| GraniteShares | 44 | $9.26B | 5.16% |
| REX Microsectors | 21 | $7.20B | 4.01% |
| Tradr | 74 | $5.84B | 3.25% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Direxion | $938M |
| ProShares | $163M |
| Leverage Shares | $22M |
| Outflows | |
| Tradr | -$188M |
| GraniteShares | -$131M |
| Roundhill | -$34M |
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.
