Weekly Channel Summary
The Leveraged & Inverse (Non-Traditional) ETF channel currently oversees a Total AUM of $201.37 billion, spread across 589 distinct ETFs and managed by 28 issuers. Overall, the channel experienced net outflows over the short and long term, posting a 5-Day Flow of -$440M. Looking further back, the channel recorded a YTD Flow of -$4.06B and a 1-Year Flow of -$12.16B.
This Week’s Performance Leaders and Laggards
This week showcased significant divergence in returns across the leveraged and inverse landscape. The thematic action was heavily concentrated in high-growth, volatile sectors, with Disruptive Tech leading all categories by delivering a 9.23% WTD return. Conversely, traditional and resource-based sectors lagged significantly, weighed down by Energy, which posted the channel’s lowest category return at -6.61% WTD. Notably, while broad core equities exhibited mild gains, extreme dispersion was primarily found in specialized tech, crypto, and energy trackers.
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing product this week was the STLU (Volatility Shares 2x Stellar ETF), rocketing higher by an impressive 53.59%. On the other end of the spectrum, biotech and semiconductor bears suffered the most severe drawdowns; the two worst performers were LABD (Direxion Daily S&P Biotech Bear 3X ETF) down -46.35%, and SOXS (Direxion Daily Semiconductor Bear 3X ETF) retreating -24.21%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| STLU | Volatility Shares 2x Stellar ETF | 53.59% |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | 32.56% |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETN | 23.06% |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN | 22.61% |
| WTID | MicroSectors Energy 3X Inverse Leveraged ETNs | 21.71% |
| Bottom Performers | ||
| LABD | Direxion Daily S&P Biotech Bear 3X ETF | -46.35% |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -24.21% |
| NRGU | MicroSectors U.S. Big Oil 3x Leveraged ETN | -20.26% |
| OILU | MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN | -19.87% |
| WTIU | MicroSectors Energy 3X Leveraged ETNs | -19.30% |
Analyzing the Weekly Flows
Channel-wide capital flows recorded a net decline of -$440M this week. The brightest spot belonged to the Single Stock category, which gathered the most inflows at +$2,142M (supported by an AUM base of $45.23B). Additionally, strong capital formation was observed in the Levered 2x implementation segment (+$2,738M). On the downside, the traditional Equity category experienced the largest capital flight, surrendering -$2,265M to outflows.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Single Stock | 333 | $45,232M | $2,142M | $3,888M | $6,078M | $9,533M | $14,597M |
| Leverage | Inverse – Crypto | 28 | $2,970M | ($3M) | $251M | $499M | $1,314M | $4,806M |
| Leverage | Inverse – Fixed Income | 15 | $3,321M | ($112M) | ($372M) | ($472M) | ($1,259M) | ($2,429M) |
| Leverage | Inverse – Commodity | 21 | $4,963M | ($203M) | $3,355M | $3,758M | $5,869M | $6,772M |
| Leverage | Inverse – Equity | 192 | $144,884M | ($2,265M) | ($3,265M) | ($14,609M) | ($19,519M) | ($35,910M) |
Top & Bottom 5 ETFs by 5-Day Flow
At the individual product level, SSO claimed the top spot for asset gathering by taking in a robust $383M. Meanwhile, the most severe redemptions hit international equity and semiconductor plays, with KORU and SOXL shedding -$1,859M and -$1,463M respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SSO | ProShares Ultra S&P 500 | $383M |
| SPXL | Direxion Daily S&P 500 Bull 3X ETF | $374M |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | $271M |
| QLD | ProShares Ultra QQQ | $179M |
| SQQQ | ProShares UltraPro Short QQQ | $154M |
| Outflows | ||
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | ($1,859M) |
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | ($1,463M) |
| SCO | ProShares UltraShort Bloomberg Crude Oil | ($218M) |
| FAS | Direxion Daily Financial Bull 3X ETF | ($87M) |
| PSQ | ProShares Short QQQ | ($69M) |
Issuer League Table Update
The competitive landscape remains top-heavy with ProShares (42.38% market share) and Direxion (37.75% market share) continuing to dominate the channel. Tradr gathered the highest overall net money this week (+$1,558M), but looking strictly at the top two titans, ProShares led with +$475M in weekly inflows, while Direxion sustained the industry’s largest outflows at -$2,572M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 111 | $85.69B | 42.38% |
| Direxion | 123 | $76.33B | 37.75% |
| GraniteShares | 38 | $11.37B | 5.62% |
| Tradr | 67 | $9.08B | 4.49% |
| REX Microsectors | 21 | $7.84B | 3.88% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Tradr | $1,558M |
| ProShares | $475M |
| Leverage Shares | $461M |
| Outflows | |
| Direxion | -$2,572M |
| T-Rex | -$11M |
| Roundhill | -$8M |
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.
