Weekly Channel Summary
The Leverage | Inverse ETF channel now holds a total of $152 billion in Assets Under Management (AUM) across 437 ETFs from 25 different issuers. The channel saw significant outflows this past week, shedding $2.13 billion. This extends a persistent trend of negative flows, which now total $15.69 billion year-to-date and $10.35 billion over the past year.
This Week’s Performance Leaders and Laggards
Thematic ETFs focused on FinTech were the standout performers this week, posting a strong 3.85% return. Precious Metals and Disruptive Tech strategies also had a strong showing, each gaining 3.29%. On the other end of the spectrum, ETFs targeting Agriculture were the primary laggards, dropping by -1.92% for the week, followed closely by thematic Infrastructure funds, which fell -1.24%.
Category Performance Snapshot
The table below breaks down the week-to-date performance of each category by its corresponding levered and inverse ETF implementations.
| Category | Levered: 2x | Levered: 3x | Levered: 4x | Inverse: 1x | Inverse: 2x | Inverse: 3x |
|---|---|---|---|---|---|---|
| Commodity: Focused – Agriculture | -1.59% | |||||
| Commodity: Focused – Energy | -1.41% | 0.84% | ||||
| Commodity: Focused – Industrial Metals | -0.88% | -0.93% | ||||
| Commodity: Focused – Precious Metals | 0.81% | 2.89% | 3.43% | -3.31% | ||
| Digital Asset: Cryptocurrency – Bitcoin | -6.85% | -1.29% | 6.54% | |||
| Equity: Emerging Large Cap | 2.74% | 4.07% | -2.65% | -3.97% | ||
| Equity: Global Ex-U.S. Large Cap – Blend | -0.11% | 0.12% | 0.16% | |||
| Equity: Region – Asia-Pacific Emerging | 1.28% | 2.88% | -2.09% | -3.14% | ||
| Equity: Region – Eurozone | -0.17% | -0.35% | 0.21% | |||
| Equity: Region – Latin America | 5.92% | 2.81% | -5.66% | |||
| Equity: Sector – Communication Services | 3.53% | 0.91% | ||||
| Equity: Sector – Consumer Discretionary | 2.07% | 2.97% | -1.99% | |||
| Equity: Sector – Consumer Staples | -2.42% | 2.49% | ||||
| Equity: Sector – Financials | 1.54% | 3.57% | -1.41% | -4.81% | ||
| Equity: Sector – Health Care | 0.16% | 0.58% | -1.75% | -5.06% | ||
| Equity: Sector – Industrial | 1.82% | 4.08% | -3.72% | |||
| Equity: Sector – Information Technology | 3.73% | 10.67% | -2.86% | -10.29% | ||
| Equity: Sector – Materials | -1.90% | 2.02% | ||||
| Equity: Sector – Real Estate | -2.35% | -3.54% | 1.27% | 2.49% | 3.74% | |
| Equity: Sector – Utilities | -1.43% | -2.23% | 1.41% | |||
| Equity: Thematic – Disruptive Tech | 6.29% | 10.23% | -6.94% | -9.99% | ||
| Equity: Thematic – Evolving Consumer | 7.84% | 4.76% | -4.67% | |||
| Equity: Thematic – FinTech | 10.74% | -4.97% | ||||
| Equity: Thematic – Industrial Revolution | 19.18% | |||||
| Equity: Thematic – Infrastructure | -12.09% | |||||
| Equity: Thematic – Precious Metals | 6.67% | -8.01% | ||||
| Equity: U.S. Large Cap – Blend | 1.55% | 4.75% | 4.45% | -0.45% | -2.09% | -4.55% |
| Equity: U.S. Large Cap – Growth | 5.86% | 6.53% | -2.05% | -3.91% | -6.20% | |
| Equity: U.S. Small Cap – Blend | 1.04% | 3.17% | -0.99% | -2.09% | -4.32% | |
| Fixed Income: Taxable – Government Intermediate | -0.84% | -1.30% | 0.96% | 1.43% | ||
| Fixed Income: Taxable – Government Long | 0.58% | -3.32% | 1.11% | 2.17% | 3.43% | |
| Fixed Income: Taxable – High Yield | 0.22% | |||||
| Fixed Income: Taxable – Preferred Stock | 0.42% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s best individual performer was the Direxion Daily Uranium Industry Bull 2X Shares (URAA), which surged an incredible 30.69%. On the other end of the spectrum, inverse semiconductor ETFs faced a difficult week, with the Direxion Daily Semiconductor Bear 3x Shares (SOXS) plummeting -12.24%, followed closely by the Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) which fell -12.09%.
| Top Performers | ||
| URAA | Direxion Daily Uranium Industry Bull 2X Shares | 30.69% |
| EVAV | Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares | 19.18% |
| TARK | AXS 2X Innovation ETF Fund | 16.58% |
| WILD | VistaShares Animal Spirits Daily 2X Strategy ETF | 15.31% |
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | 12.62% |
| Bottom Performers | ||
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | -12.24% |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X Shares | -12.09% |
| BERZ | MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | -11.51% |
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -11.15% |
| ETHU | 2x Ether ETF | -10.55% |
Analyzing the Weekly Flows
The Leverage | Inverse channel saw total net outflows of over $2.1 billion this week. The Equity category was the primary driver of this trend, with a massive $1.65 billion withdrawn from its $107.6 billion AUM. The Single Stock category also saw significant outflows of $418 million. Bucking the trend, the Crypto category was the only segment to attract meaningful capital, pulling in $263 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Crypto | 18 | $9,310M | $263M | $879M | $879M | $1,840M | $3,345M |
| Leverage | Inverse – Commodity | 18 | $3,162M | ($8M) | $98M | $261M | $486M | $496M |
| Leverage | Inverse – Fixed Income | 14 | $5,577M | ($323M) | ($675M) | ($572M) | ($759M) | ($97M) |
| Leverage | Inverse – Single Stock | 186 | $26,432M | ($418M) | ($807M) | ($2,001M) | $4,315M | $8,593M |
| Leverage | Inverse – Equity | 186 | $107,579M | ($1,648M) | ($3,908M) | ($12,007M) | ($21,574M) | ($22,690M) |
Top & Bottom 5 ETFs by 5-Day Flow
The Direxion Daily Semiconductor Bear 3x Shares (SOXS) led the pack in inflows, pulling in $303 million as traders bet against the chip sector. The ProShares UltraPro Short QQQ (SQQQ) also attracted significant capital, with $244 million in new assets. On the flip side, the Direxion Daily Semiconductor Bull 3x Shares (SOXL) experienced the largest exodus, with investors withdrawing over $1 billion. Another popular tech-focused fund, the ProShares UltraPro QQQ (TQQQ), also saw heavy outflows of $846 million.
| Inflows | ||
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | $303M |
| SQQQ | ProShares UltraPro Short QQQ | $244M |
| ETHU | 2x Ether ETF | $166M |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X Shares | $71M |
| TZA | Direxion Daily Small Cap Bear 3x Shares | $43M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | ($1,043M) |
| TQQQ | ProShares UltraPro QQQ | ($846M) |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X Shares | ($306M) |
| TECL | Direxion Daily Technology Bull 3x Shares | ($74M) |
| YINN | Direxion Daily FTSE China Bull 3X Shares | ($69M) |
Issuer League Table Update
The issuer landscape remains firmly controlled by ProShares and Direxion, which command 44.58% and 35.21% of the market share, respectively. It was a week of significant movement, with Tradr leading the charge in asset gathering by pulling in $259 million. In contrast, Direxion experienced the largest outflows of any issuer, with over $2 billion withdrawn from its funds.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $67.81B | 44.58% |
| Direxion | 111 | $53.56B | 35.21% |
| GraniteShares | 36 | $8.28B | 5.44% |
| REX Microsectors | 19 | $6.83B | 4.49% |
| Volatility Shares | 6 | $6.37B | 4.19% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Tradr | $259M |
| Volatility Shares | $199M |
| GraniteShares | $185M |
| Outflows | |
| Direxion | ($2,040M) |
| ProShares | ($705M) |
| Defiance | ($97M) |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
