The Weekly Leveraged Recap: Energy Soars While Precious Metals Plunge

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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.