Weekly Channel Summary
The Leverage | Inverse ETF channel, comprising 449 ETFs from 25 issuers, currently holds a total of $149 billion in assets under management. Over the past week, the channel experienced net inflows of $440 million. However, the longer-term trend shows significant outflows, with a year-to-date net outflow of $15.20 billion and a total outflow of $10.49 billion over the past year, indicating recent positive sentiment may be a short-term shift against a broader backdrop of capital withdrawal.
This Week’s Performance Leaders and Laggards
This week’s performance was led by the Energy sector, with the underlying category posting a strong 4.79% week-to-date return, driving gains in related leveraged ETFs. On the other end of the spectrum, the Digital Asset space, specifically Bitcoin-related products, was the primary laggard, dropping 5.14% and causing significant losses for funds offering long exposure to the cryptocurrency.
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 | -1.05% | |||||
| Commodity: Focused – Energy | 4.64% | -4.62% | ||||
| Commodity: Focused – Industrial Metals | 6.15% | |||||
| Commodity: Focused – Precious Metals | 11.70% | 6.28% | -10.71% | -6.52% | ||
| Digital Asset: Cryptocurrency – Bitcoin | -16.69% | 14.55% | ||||
| Equity: Emerging Large Cap | -1.25% | -1.90% | 0.69% | 1.30% | 1.98% | |
| Equity: Global Ex-U.S. Large Cap – Blend | -0.92% | 0.51% | 0.93% | |||
| Equity: Region – Asia-Pacific | -0.99% | 1.05% | ||||
| Equity: Region – Asia-Pacific Emerging | -1.21% | -5.47% | 1.57% | 3.08% | 4.58% | |
| Equity: Region – Eurozone | -0.56% | -0.90% | 0.52% | |||
| Equity: Region – Latin America | -1.45% | 1.50% | 1.29% | |||
| Equity: Sector – Communication Services | -1.57% | |||||
| Equity: Sector – Consumer Discretionary | -1.07% | -1.95% | 0.04% | 0.96% | ||
| Equity: Sector – Consumer Staples | -2.35% | 2.42% | ||||
| Equity: Sector – Energy | 9.61% | 7.77% | -8.87% | -6.50% | ||
| Equity: Sector – Financials | -0.89% | -1.72% | 0.50% | 1.65% | 0.70% | |
| Equity: Sector – Health Care | -1.65% | 2.58% | 1.57% | -7.66% | ||
| Equity: Sector – Industrial | 0.05% | -0.19% | -0.02% | 1.67% | ||
| Equity: Sector – Information Technology | -0.63% | 1.63% | -0.54% | -1.72% | ||
| Equity: Sector – Materials | -3.62% | 3.66% | ||||
| Equity: Sector – Real Estate | 1.54% | 2.22% | -0.71% | -1.52% | -2.31% | |
| Equity: Sector – Utilities | 5.61% | 8.41% | -5.37% | |||
| Equity: Thematic – Disruptive Tech | -3.02% | -3.54% | 1.87% | 3.36% | ||
| Equity: Thematic – Evolving Consumer | -9.15% | -5.52% | 5.60% | |||
| Equity: Thematic – FinTech | -4.13% | 1.96% | ||||
| Equity: Thematic – Industrial Revolution | 1.23% | |||||
| Equity: Thematic – Infrastructure | -1.06% | |||||
| Equity: Thematic – Multi-Sector | -4.54% | 2.21% | ||||
| Equity: Thematic – Natural Resources | -1.40% | |||||
| Equity: Thematic – Precious Metals | 8.44% | -8.87% | ||||
| Equity: U.S. Large Cap – Blend | -0.28% | -1.49% | -1.79% | 0.44% | 0.64% | 1.50% |
| Equity: U.S. Large Cap – Growth | -1.55% | -1.68% | 0.60% | 1.75% | 1.67% | |
| Equity: U.S. Small Cap – Blend | -1.67% | -1.88% | 0.67% | 1.26% | 1.77% | |
| Fixed Income: Taxable – Government Intermediate | -0.86% | -1.48% | 0.52% | 0.97% | 1.59% | |
| Fixed Income: Taxable – Government Long | 0.13% | -0.63% | 0.26% | 0.45% | 0.68% | |
| Fixed Income: Taxable – High Yield | -0.09% | |||||
| Fixed Income: Taxable – Preferred Stock | -2.17% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s best performer was the T-Rex 2X Inverse Ether Daily Target ETF (ETQ), which surged 18.36%. Conversely, digital asset volatility hit Solana-focused funds the hardest, with the 2x Solana ETF (SOLT) plummeting 29.21% and the ProShares Ultra Solana ETF (SLON) close behind with a 29.16% loss.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| ETQ | T-Rex 2X Inverse Ether Daily Target ETF | 18.36% |
| ETHD | ProShares UltraShort Ether ETF | 18.26% |
| AGQ | ProShares Ultra Silver | 17.76% |
| NRGU | MicroSectors U.S. Big Oil 3 Leveraged ETN | 16.86% |
| WTIU | MicroSectors Energy 3X Leveraged ETNs | 16.79% |
| Bottom Performers | ||
| SOLT | 2x Solana ETF | -29.21% |
| SLON | ProShares Ultra Solana ETF | -29.16% |
| ETHT | ProShares Ultra Ether ETF | -18.78% |
| ETHU | 2x Ether ETF | -18.67% |
| ETU | T-Rex 2X Long Ether Daily Target ETF | -18.66% |
Analyzing the Weekly Flows
The channel saw a total net inflow of $359 million this week. The Crypto category was the clear winner, attracting $554 million in new assets and bringing its total AUM to $7.74 billion. The Commodity category also saw positive interest with $97 million in inflows. On the flip side, the Equity category experienced the largest withdrawals, with investors pulling out a net $315 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Crypto | 18 | $7,742M | $554M | $1,030M | $1,305M | $2,394M | $3,878M |
| Leverage | Inverse – Commodity | 18 | $3,426M | $97M | $150M | $419M | $583M | $556M |
| Leverage | Inverse – Single Stock | 191 | $26,017M | $26M | ($1,358M) | ($1,680M) | $4,348M | $8,597M |
| Leverage | Inverse – Fixed Income | 14 | $5,479M | ($2M) | ($718M) | ($538M) | ($761M) | ($171M) |
| Leverage | Inverse – Equity | 186 | $106,349M | ($315M) | ($3,929M) | ($12,328M) | ($21,890M) | ($23,475M) |
Top & Bottom 5 ETFs by 5-Day Flow
The 2x Ether ETF (ETHU) led all individual funds, pulling in an impressive $299 million in new assets this week. On the other end, semiconductor-focused funds saw the largest exits, with the Direxion Daily Semiconductor Bull 3x Shares (SOXL) bleeding $383 million and the ProShares UltraPro QQQ (TQQQ) shedding $273 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| ETHU | 2x Ether ETF | $299M |
| SPXL | Direxion Daily S&P 500 Bull 3x Shares | $230M |
| UPRO | ProShares UltraPro S&P500 | $172M |
| ETHT | ProShares Ultra Ether ETF | $99M |
| SOLT | 2x Solana ETF | $95M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | ($383M) |
| TQQQ | ProShares UltraPro QQQ | ($273M) |
| TNA | Direxion Daily Small Cap Bull 3x Shares | ($67M) |
| TECL | Direxion Daily Technology Bull 3x Shares | ($66M) |
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | ($51M) |
Issuer League Table Update
The issuer landscape remains dominated by ProShares, with a 44.94% market share, and Direxion, holding 35.37%. This week, Volatility Shares was the top asset gatherer, attracting $439 million in inflows. Among the top issuers, Direxion saw the largest outflows, with a net withdrawal of $531 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $67.03B | 44.94% |
| Direxion | 111 | $52.76B | 35.37% |
| GraniteShares | 36 | $8.06B | 5.41% |
| REX Microsectors | 19 | $6.88B | 4.61% |
| Volatility Shares | 6 | $5.23B | 3.51% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Volatility Shares | $439M |
| Defiance | $317M |
| Tradr | $90M |
| Outflows | |
| Direxion | -$531M |
| GraniteShares | -$120M |
| AdvisorShares | $0M |
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.
