Weekly Channel Summary
The Single Stock ETF channel remains a high-octane corner of the market, now commanding a massive $40B in total assets across 403 listings from 17 issuers. It was a week of distinct conviction, with the channel pulling in a net $171M in fresh capital. While year-to-date inflows sit at an impressive $25.7B, this week’s action highlights a specific appetite for volatility and leverage as traders position for the year-end close.
This Week’s Performance Leaders and Laggards
Underlying stock performance was a story of pharmaceutical strength and semiconductor resilience versus a crypto-miner and speculative tech sell-off. Novo Nordisk (NVO) led the charge, surging nearly 9% and breathing life into related leveraged funds. The semiconductor trade also found its footing, with Micron (MU) and Nvidia (NVDA) posting solid gains. Conversely, the speculative froth came off the top for names like Nano Nuclear Energy (NNE) and Applied Digital (APLD), which both suffered double-digit drawdowns.
Top & Bottom Underlying Stock Performance (WTD)
| Ticker | Underlying Stock | Week-To-Date Return | Year-To-Date Return | Number of Funds Following Stock |
|---|---|---|---|---|
| Top Performers | ||||
| NVO | Novo Nordisk A/S Sponsored ADR Class B | 8.96% | -37.89% | 2 |
| MU | Micron Technology, Inc. | 7.10% | 239.37% | 3 |
| CELH | Celsius Holdings, Inc. | 6.52% | 73.08% | 1 |
| NVDA | NVIDIA Corporation | 5.27% | 41.92% | 16 |
| SRPT | Sarepta Therapeutics, Inc. | 5.13% | -81.81% | 1 |
| Bottom Performers | ||||
| NNE | Nano Nuclear Energy Inc. | -13.75% | 14.44% | 1 |
| APLD | Applied Digital Corporation | -13.64% | 214.79% | 1 |
| UPXI | Upexi, Inc. | -10.10% | -46.73% | 1 |
| BMNR | BitMine Immersion Technologies Inc | -9.73% | 263.05% | 4 |
| LMND | Lemonade Inc | -9.59% | 103.63% | 1 |
Weekly Performance: The Winners and Losers
Volatility creates opportunity, and nowhere was that clearer than in the 2X Short BitMine ETF (BMNZ), which skyrocketed over 21% as the underlying crypto-miner struggled. Leveraged bulls on Novo Nordisk also celebrated, with NVOX surging nearly 18%. On the losing side, the “Trump Trade” took a massive hit, with the 2X Long DJT ETF (DJTU) cratering over 28% in a single week—a brutal reminder of how quickly leveraged sentiment can turn.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| BMNZ | Defiance Daily Target 2X Short BMNR ETF | 21.07% |
| NVOX | Defiance Daily Target 2X Long NVO ETF | 17.75% |
| CORD | T-REX 2X Inverse CRWV Daily Target ETF | 16.36% |
| OKLS | Defiance Daily Target 2X Short OKLO ETF | 15.23% |
| MUU | Direxion Daily MU Bull 2X Shares | 14.13% |
| Bottom Performers | ||
| DJTU | T-REX 2X Long DJT Daily Target ETF | -28.26% |
| APLX | Tradr 2X Long APLD Daily ETF | -26.40% |
| NNEX | Tradr 2X Long NNE Daily ETF | -26.39% |
| PXIU | T-REX 2X Long UPXI Daily Target ETF | -20.34% |
| BMNU | T-REX 2X Long BMNR Daily Target ETF | -19.53% |
Analyzing the Weekly Flows
Money talks, and this week it screamed “Risk On.” Levered strategies dominated the flow landscape, absorbing a net $183M as traders chased beta. Even Inverse strategies saw healthy inflows of $86M, suggesting active hedging or directional bearish bets. Meanwhile, Synthetic Income strategies faced an exodus, shedding $97M. This rotation suggests investors are pivoting from passive yield-seeking to aggressive price-action hunting.
Where the Money Went This Week
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Levered | 226 | $28,156.5M | $183M | $581M | $6,399M | $9,145M | $9,409M |
| Inverse | 46 | $1,353.5M | $86M | $200M | ($229M) | $1,569M | $1,530M |
| Currency Hedged | 10 | $14.7M | $0M | ($9M) | ($7M) | $3M | $3M |
| Synthetic Income | 101 | $10,691.2M | ($97M) | $1,487M | $2,692M | $14,978M | $15,167M |
Flow Leaders & Laggards: The ETF Tale of the Tape
GraniteShares’ NVDL was the undisputed king, raking in $283M. Interestingly, the same underlying stock (NVDA) saw massive outflows from T-Rex’s NVDX, which bled $159M, indicating a fierce battle for brand dominance. Tesla bulls also made their voices heard via TSLL ($146M inflows), while simultaneously pulling capital from TSLT ($122M outflows).
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| NVDL | GraniteShares 2x Long NVDA Daily ETF | $283M |
| TSLL | Direxion Daily TSLA Bull 2X Shares | $146M |
| BMNU | T-REX 2X Long BMNR Daily Target ETF | $69M |
| NVDU | Direxion Daily NVDA Bull 2X Shares | $53M |
| ASTX | Tradr 2X Long ASTS Daily ETF | $27M |
| Outflows | ||
| NVDX | T-Rex 2X Long NVIDIA Daily Target ETF | ($159M) |
| TSLT | T-REX 2X Long Tesla Daily Target ETF | ($122M) |
| RKLX | Defiance Daily Target 2X Long RKLB ETF | ($75M) |
| METU | Direxion Daily META Bull 2X Shares | ($63M) |
| ROBN | T-Rex 2X Long HOOD Daily Target ETF | ($55M) |
Issuer League Table Update
Direxion maintains its heavywight title with over 31% of the market share, but GraniteShares is the undeniable momentum winner this week, securing the top spot for inflows. T-Rex and YieldMax, despite their massive footprints, faced significant headwinds with substantial outflows.
The Heavyweights: Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Direxion | 51 | $12.57B | 31.23% |
| GraniteShares | 56 | $9.40B | 23.37% |
| YieldMax | 41 | $8.29B | 20.61% |
| Defiance | 46 | $2.78B | 6.91% |
| T-Rex | 33 | $2.61B | 6.48% |
Weekly Flows: Issuer Edition
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| GraniteShares | $321M |
| Direxion | $170M |
| Defiance | $97M |
| Outflows | |
| T-Rex | ($368M) |
| YieldMax | ($125M) |
| ProShares | ($2M) |
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.
