Weekly Channel Summary
The Leverage & Inverse channel encompasses 791 ETFs from 26 issuers, with total assets under management standing at $180.24 billion. Over the past week, the channel experienced net outflows of $350 million, trimming year-to-date inflows to $5.89 billion. Looking back over the last twelve months, these tactical products have accumulated a total of $7.10 billion in net new assets.
This Week’s Performance Leaders and Laggards
Leveraged and inverse crypto funds delivered staggering returns this week, with the category surging 43.94% on average. This weekly gain contrasts sharply with the category’s year-to-date performance, which remains down -42.21%. At the other end of the spectrum, Leverage & Inverse – Equity was the worst-performing category, declining by -5.60% for the week.
Top & Bottom 5 ETFs by Weekly Performance
The week’s performance was dominated by crypto-linked products, with Volatility Shares Trust XRP 2X ETF (XRPT) leading all funds with an 83.17% gain. The top three performers all provided leveraged exposure to XRP, highlighting a concentrated bet within the digital asset space. Conversely, ProShares UltraShort Ether ETF (ETHD) was the biggest laggard, falling -43.69% as volatility cut both ways for crypto traders.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| XRPT | Volatility Shares Trust XRP 2X ETF | 83.17% |
| UXRP | ProShares Ultra XRP ETF | 83.10% |
| XXRP | Teucrium 2x Long Daily XRP ETF | 83.06% |
| TXXH | 21Shares 2x Long HYPE ETF | 73.72% |
| CHNU | Volatility Shares 2x Chainlink ETF | 65.33% |
| Bottom Performers | ||
| ETHD | ProShares UltraShort Ether ETF | -43.69% |
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -37.38% |
| BTCZ | T-Rex 2X Inverse Bitcoin Daily Target ETF | -35.69% |
| SBIT | ProShares UltraShort Bitcoin ETF | -35.59% |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -26.31% |
Analyzing the Weekly Flows
Despite the mixed performance, the channel saw modest net outflows totaling $350 million for the week. Investors added the most capital to Commodity-focused products, which brought in $166 million. However, these inflows were more than offset by significant redemptions from Equity funds, which bled -$478 million, and Single Stock funds, which saw -$130 million in outflows.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Commodity | 22 | $4.35B | $166M | $299M | $3,471M | $5,853M | $6,610M |
| Leverage | Inverse – Fixed Income | 19 | $3.04B | $60M | $99M | -$381M | -$1,237M | -$2,533M |
| Leverage | Inverse – Crypto | 28 | $3.26B | $31M | $47M | $328M | $1,409M | $4,976M |
| Leverage | Inverse – Single Stock | 494 | $34.63B | -$130M | -$1,475M | $4,536M | $11,387M | $17,579M |
| Leverage | Inverse – Equity | 228 | $134.96B | -$478M | $1,589M | $3,603M | -$11,518M | -$19,528M |
Top & Bottom 5 ETFs by 5-Day Flow
ProShares UltraPro QQQ (TQQQ) was the most popular fund, attracting $295 million in net inflows. On the other hand, traders aggressively sold positions in semiconductor-focused ETFs. Direxion Daily Semiconductor Bear 3X ETF (SOXS) saw the largest redemptions at -$406 million, while its bullish counterpart, Direxion Daily Semiconductor Bull 3X ETF (SOXL), also experienced heavy outflows of -$253 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| TQQQ | ProShares UltraPro QQQ | $295M |
| SCO | ProShares UltraShort Bloomberg Crude Oil | $93M |
| RAM | Roundhill T-REX 2X Long DRAM Daily Target ETF | $83M |
| NBIL | GraniteShares 2x Long NBIS Daily ETF | $71M |
| INTW | GraniteShares 2x Long INTC Daily ETF | $69M |
| Outflows | ||
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -$406M |
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | -$253M |
| MUU | Direxion Daily MU Bull 2X ETF | -$243M |
| SNXX | Tradr 2X Long SNDK Daily ETF | -$198M |
| SPXL | Direxion Daily S&P 500 Bull 3X ETF | -$100M |
Issuer League Table Update
The issuer landscape remains dominated by ProShares and Direxion, which command 46.09% and 35.06% of the channel’s market share, respectively. ProShares had a strong week, leading all issuers with $583 million in net inflows. In a sharp contrast, Direxion faced significant headwinds, experiencing the largest outflows of any issuer with over $1.16 billion withdrawn from its funds.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 113 | $83.07B | 46.09% |
| Direxion | 125 | $63.19B | 35.06% |
| GraniteShares | 44 | $8.76B | 4.86% |
| REX Microsectors | 27 | $8.33B | 4.62% |
| Tradr | 83 | $5.52B | 3.06% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| ProShares | $583M |
| GraniteShares | $126M |
| Leverage Shares | $125M |
| Outflows | |
| Direxion | -$1,161M |
| Tradr | -$159M |
| Volatility Shares | -$32M |
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.
