Weekly Channel Summary
The Leverage & Inverse channel, encompassing 787 ETFs from 26 issuers, holds a total of $189.09 billion in assets under management. The segment experienced net outflows of $874 million over the past week, trimming year-to-date inflows to $6.41 billion. Over the last twelve months, the channel has accumulated $7.52 billion in net new assets.
This Week’s Performance Leaders and Laggards
Leveraged and Inverse Single Stock products led performance for the week, surging by 12.06% despite being down over the past three months. This weekly gain contributes to a remarkable 107.19% year-to-date return for the category. On the other end of the spectrum, Crypto-focused products were the worst performers, declining by 3.66% for the week. This continues a difficult trend for the category, which is now down 51.55% year-to-date.
Top & Bottom 5 ETFs by Weekly Performance
The top-performing fund this week was the MicroSectors U.S. Big Oil 3 Leveraged ETN (NRGU), which soared 28.44% amid a strong move in the energy sector. Conversely, its inverse counterpart, the MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN (NRGD), was the week’s biggest laggard, plummeting 25.30%. Another notable performer was the Roundhill T-REX 2X Long DRAM Daily Target ETF (RAM), which gained 27.17%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| NRGU | MicroSectors U.S. Big Oil 3 Leveraged ETN | 28.44% |
| RAM | Roundhill T-REX 2X Long DRAM Daily Target ETF | 27.17% |
| DRAL | Defiance Daily Target 2X Long DRAM ETF | 27.16% |
| RAML | Leverage Shares 2X Long Memory Daily ETF | 26.45% |
| WTIU | MicroSectors Energy 3X Leveraged ETNs | 24.62% |
| Bottom Performers | ||
| NRGD | MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN | -25.30% |
| RAMZ | T-REX 2X Inverse DRAM Daily Target ETF | -24.00% |
| WTID | MicroSectors Energy 3X Inverse Leveraged ETNs | -22.30% |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN | -20.82% |
| CRDX | Volatility Shares 2x Cardano ETF | -20.68% |
Analyzing the Weekly Flows
The Leverage & Inverse channel saw net outflows totaling $874 million for the week, driven by significant redemptions from equity-focused products. The Single Stock category experienced the largest withdrawals, shedding $829 million, while the broader Equity category lost $86 million. In contrast, Commodity-focused products bucked the trend, attracting $46 million in fresh capital. Despite the weekly outflows, the Single Stock category remains the leader for year-to-date inflows at $11.45 billion.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Commodity | 22 | $4.45B | $46M | $134M | $3,278M | $5,679M | $6,424M |
| Leverage | Inverse – Crypto | 28 | $2.85B | $1M | -$40M | $303M | $1,350M | $4,873M |
| Leverage | Inverse – Fixed Income | 16 | $3.01B | -$6M | $79M | -$350M | -$1,297M | -$2,546M |
| Leverage | Inverse – Equity | 235 | $142.82B | -$86M | $4,630M | $5,174M | -$10,769M | -$19,407M |
| Leverage | Inverse – Single Stock | 485 | $35.90B | -$829M | -$1,754M | $6,174M | $11,445M | $18,172M |
Top & Bottom 5 ETFs by 5-Day Flow
Flows were concentrated in popular technology trades, with investors showing mixed sentiment. The GraniteShares 2x Long NVDA Daily ETF (NVDL) and the ProShares UltraPro Short QQQ (SQQQ) tied for the top spot, each gathering $214 million in new assets. On the redemption side, profit-taking was evident in the semiconductor space, as the Direxion Daily Semiconductor Bull 3X ETF (SOXL) saw the largest outflows of the week at $483 million. The Leverage Shares 2X Long SPCX Daily ETF (SPCH) also experienced significant withdrawals, losing $156 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| NVDL | GraniteShares 2x Long NVDA Daily ETF | $214M |
| SQQQ | ProShares UltraPro Short QQQ | $214M |
| QLD | ProShares Ultra QQQ | $124M |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | $121M |
| SCO | ProShares UltraShort Bloomberg Crude Oil | $94M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | -$483M |
| SPCH | Leverage Shares 2X Long SPCX Daily ETF | -$156M |
| SNXX | Tradr 2X Long SNDK Daily ETF | -$118M |
| PLTU | Direxion Daily PLTR Bull 2X ETF | -$101M |
| MUU | Direxion Daily MU Bull 2X ETF | -$99M |
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: NBIZ ($49M).
Issuer League Table Update
ProShares and Direxion continue to dominate the Leverage & Inverse landscape, controlling 44.96% and 36.59% of the market share, respectively. This week, ProShares led all issuers in asset gathering, attracting $402 million in net inflows. In contrast, Direxion experienced the largest outflows, with investors pulling a net $853 million from its suite of products.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 113 | $85.01B | 44.96% |
| Direxion | 125 | $69.18B | 36.59% |
| GraniteShares | 44 | $9.32B | 4.93% |
| REX Microsectors | 24 | $8.40B | 4.44% |
| Tradr | 79 | $5.87B | 3.11% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| ProShares | $402M |
| GraniteShares | $64M |
| Roundhill | $21M |
| Outflows | |
| Direxion | -$853M |
| Leverage Shares | -$192M |
| Tradr | -$134M |
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.
