Weekly Channel Summary
The Leverage & Inverse channel ended the week with $193.61B in total AUM spread across 799 ETFs from 28 issuers. Net flows were positive on a weekly basis at $331M, extending a solidly positive year-to-date total of $5,422M and a one-year net inflow of $10,327M. The channel continues to attract steady capital despite sharp performance swings across its underlying asset classes.
This Week’s Performance Leaders and Laggards
On a week-to-date basis, Leveraged/Inverse Fixed Income led all categories with a 0.79% gain, followed by Commodity-linked products at 0.32%, while Equity, Single Stock, and Crypto segments each posted losses, with Crypto the weakest at -8.63%. The picture flips over longer horizons: Single Stock products are up a remarkable 126.02% year-to-date and Equity products 68.99%, while Crypto remains deeply negative YTD at -42.26% and Commodity products are down 24.76%. Brazil-linked leveraged products dominated the top of the weekly leaderboard, with MicroSectors 3x Long Brazil ETNs (BRZL) surging 42.12% and three other Brazil funds also posting gains above 27%. On the downside, ProShares UltraShort MSCI Brazil Capped (BZQ) fell 26.80%, reflecting the inverse side of that same Brazil rally.
Top & Bottom 5 ETFs by Weekly Performance
The week’s standout performers were concentrated in Brazil-focused leveraged products, led by BRZL’s 42.12% gain alongside strong showings from ProShares Ultra MSCI Brazil Capped (UBR), Direxion Daily MSCI Brazil Bull 2X ETF (BRZU), and Corgi Brazil 2x Daily ETF (BRZX), all up more than 27%. Direxion Daily Semiconductor Bear 3X ETF (SOXS) rounded out the top five with a 15.75% advance, consistent with semiconductor weakness during the week. Conversely, the bottom of the leaderboard was led by BZQ’s 26.80% decline and Direxion Daily MSCI South Korea Bull 3X ETF (KORU), down 22.22%, alongside sharp losses in digital-asset-linked products such as Defiance 2X Daily Long Pure Quantum ETF (QPUX) and 2x Solana ETF (SOLT). These extremes highlight the elevated volatility inherent to single-country and crypto-adjacent leveraged exposures.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BRZL | MicroSectors 3x Long Brazil ETNs | 42.12% |
| UBR | ProShares Ultra MSCI Brazil Capped | 28.10% |
| BRZU | Direxion Daily MSCI Brazil Bull 2X ETF | 27.95% |
| BRZX | Corgi Brazil 2x Daily ETF | 27.87% |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | 15.75% |
| Bottom Performers | ||
| BZQ | ProShares UltraShort MSCI Brazil Capped | -26.80% |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | -22.22% |
| QPUX | Defiance 2X Daily Long Pure Quantum ETF | -20.92% |
| STLU | Volatility Shares 2x Stellar ETF | -20.17% |
| SOLT | 2x Solana ETF | -16.44% |
Analyzing the Weekly Flows
The channel attracted $331M of net new money over the week, with the Leveraged/Inverse Equity segment the clear leader at $672M of inflows despite its negative weekly performance. Single Stock products saw the largest outflow at -$250M, followed by Commodity products at -$68M, while Crypto and Fixed Income categories were roughly flat with modest outflows of -$22M and -$1M, respectively. Longer-term trends show a divergence, with Single Stock and Commodity categories holding strong positive YTD flows of $10,459M and $6,192M, while Equity has seen -$11,599M in YTD outflows despite its strong recent week. This suggests investors continue rotating tactically within the channel even as aggregate demand remains positive.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Equity | 239 | $146.06B | $672M | -$1,371M | $4,808M | -$11,599M | -$14,716M |
| Leverage | Inverse – Fixed Income | 19 | $3.06B | -$1M | $320M | $464M | -$950M | -$1,442M |
| Leverage | Inverse – Crypto | 28 | $4.11B | -$22M | -$61M | -$76M | $1,320M | $3,298M |
| Leverage | Inverse – Commodity | 22 | $4.39B | -$68M | $45M | $736M | $6,192M | $6,793M |
| Leverage | Inverse – Single Stock | 491 | $35.98B | -$250M | $174M | -$3,238M | $10,459M | $16,394M |
Top & Bottom 5 ETFs by 5-Day Flow
ProShares UltraPro QQQ (TQQQ) led all funds with $360M of net inflows, followed by Direxion Daily Semiconductor Bear 3X ETF (SOXS) at $255M and GraniteShares 2x Long COIN Daily ETF (CONL) at $176M. On the outflow side, Direxion Daily TSLA Bull 2X ETF (TSLL) led redemptions at -$292M, followed by Direxion Daily Semiconductor Bull 3X ETF (SOXL) at -$171M. The pairing of large inflows into SOXS alongside large outflows from SOXL suggests tactical positioning against continued semiconductor sector volatility during the week.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| TQQQ | ProShares UltraPro QQQ | $360M |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | $255M |
| CONL | GraniteShares 2x Long COIN Daily ETF | $176M |
| SSO | ProShares Ultra S&P 500 | $152M |
| NBIL | GraniteShares 2x Long NBIS Daily ETF | $79M |
| Outflows | ||
| TSLL | Direxion Daily TSLA Bull 2X ETF | -$292M |
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | -$171M |
| SQQQ | ProShares UltraPro Short QQQ | -$124M |
| MUU | Direxion Daily MU Bull 2X ETF | -$103M |
| AMDL | GraniteShares 2x Long AMD Daily ETF | -$88M |
Issuer League Table Update
ProShares and Direxion remain the two dominant issuers in the channel, holding 46.95% and 34.41% market share, respectively, with combined AUM exceeding $157B across their fund lineups. ProShares also led weekly inflows with $418M, driven in part by strength in TQQQ and SSO, while GraniteShares added a further $174M on continued demand for its single-stock leveraged products. On the other end, Direxion recorded the largest weekly outflow among issuers at -$406M, reflecting redemptions concentrated in TSLL and SOXL. Volatility Shares and Roundhill rounded out the outflow list with more modest redemptions of -$36M and -$18M, respectively.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 113 | $90.91B | 46.95% |
| Direxion | 125 | $66.63B | 34.41% |
| GraniteShares | 44 | $9.83B | 5.07% |
| REX Microsectors | 35 | $8.97B | 4.63% |
| Tradr | 83 | $4.88B | 2.52% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| ProShares | $418M |
| GraniteShares | $174M |
| T-Rex | $68M |
| Outflows | |
| Direxion | -$406M |
| Volatility Shares | -$36M |
| Roundhill | -$18M |
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.
