Profit-Taking Hits Single Stock ETFs as MSFU and NVDL Shed Over $380M

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Weekly Channel Summary

The Single Stock ETF channel ended the week with $41.52 billion in assets under management across 604 funds from 17 issuers. Despite strong performance in underlying tech names, traders pulled a net $564 million from the channel over the last five days. This recent withdrawal contrasts with significant year-to-date inflows of $12.99 billion and one-year inflows totaling $22.88 billion.

This Week’s Performance Leaders and Laggards

Leverage and Inverse funds delivered powerful returns, with the category surging 16.69% for the week on the back of strong moves in underlying technology stocks. This weekly gain significantly outpaced the Synthetic Income category, which still posted a solid 7.26% return. Despite the strong week, both categories remain in negative territory over the past three months, highlighting the volatile nature of these trading instruments.

Top & Bottom Underlying Stock Performance (WTD)

Ticker Underlying Stock Week-To-Date Return Year-To-Date Return Number of Funds Following Stock
Top Performers
NVDA Nvidia Corporation 11.56% 20.09% 8
MRNA Moderna Inc 7.94% 100.64% 1
MSFT Microsoft Corp 7.59% 3.38% 2
META Meta Platforms Inc 6.36% -10.30% 2
TSLA Tesla Inc 5.58% -26.94% 10
Bottom Performers
XYZ Block Inc -2.76% 21.37% 1
XOM Exxonmobil Holdings Corp Com Shs -1.54% 27.17% 1
GOOG Alphabet Inc Cap Stk Cl C -0.89% 12.64% 3
AMZN Amazon Com Inc 1.07% 18.92% 3
AAPL Apple Inc 1.43% 15.25% 4

Top & Bottom 5 ETFs by Weekly Performance

Several leveraged long funds posted triple-digit gains, led by the T-REX 2X Long RDW Daily Target ETF (RDWU), which skyrocketed 135.63%. A cluster of funds offering 2x daily exposure to AXTI also more than doubled in value. Conversely, inverse funds suffered steep losses, with the Defiance Daily Target 2x Short PLTR ETF (PLTZ) falling nearly 66% for the week.

Ticker Fund Name WTD Performance
Top Performers
RDWU T-REX 2X Long RDW Daily Target ETF 135.63%
AXTU T-REX 2X Long AXTI Daily Target ETF 105.09%
AXTC Corgi AXTI 2x Daily ETF 104.00%
AXTL Leverage Shares 2X Long AXTI Daily ETF 103.89%
AXTX Tradr 2X Long AXTI Daily ETF 102.72%
Bottom Performers
PLTZ Defiance Daily Target 2x Short PLTR ETF -65.98%
AAOZ Tradr 2X Short AAOI Daily ETF -63.09%
CORD T-REX 2X Inverse CRWV Daily Target ETF -47.32%
TTDU T-REX 2X Long TTD Daily Target ETF -46.62%
SPCQ Defiance Daily Target 2X Short SpaceX ETF -46.52%

Analyzing the Weekly Flows

The channel experienced a net outflow of $564 million, driven entirely by redemptions from Levered products, which shed $694 million. This suggests traders were actively taking profits from long positions following a strong performance week. In a counter-trend move, Inverse ETFs attracted $135 million in new assets, indicating some investors may be positioning for a potential reversal or hedging existing gains.

Where the Money Went This Week

Implementation Fund Count AUM 5 Day 30 Day 90 Day YTD 1 Year
Inverse 58 $1.48B $135M $30M -$121M $97M $241M
Autocallable 8 $14M $1M $4M $8M $10M $10M
Currency Hedged 10 $33M -$1M -$2M $4M $8M $4M
Options Overlay 106 $7.39B -$5M $367M $1,104M $741M $4,497M
Levered 421 $32.52B -$694M -$1,945M $8,215M $12,135M $18,124M

Top & Bottom 5 ETFs by 5-Day Flow

The Tradr 2X Long SNDK Daily ETF (SNXX) was the week’s most popular fund, attracting $219 million in new capital. However, the bigger story was the significant outflows from some of the largest leveraged ETFs tracking popular tech stocks. The Direxion Daily MSFT Bull 2X ETF (MSFU) saw the largest redemption at $207 million, while the GraniteShares 2x Long NVDA Daily ETF (NVDL) lost $173 million.

Ticker Fund Name 5-Day Flow
Inflows
SNXX Tradr 2X Long SNDK Daily ETF $219M
AMDL GraniteShares 2x Long AMD Daily ETF $106M
SSPC Leverage Shares 2X Short SPCX Daily ETF $94M
SPCH Leverage Shares 2X Long SPCX Daily ETF $87M
METU Direxion Daily META Bull 2X ETF $55M
Outflows
MSFU Direxion Daily MSFT Bull 2X ETF -$207M
NVDL GraniteShares 2x Long NVDA Daily ETF -$173M
TSLL Direxion Daily TSLA Bull 2X ETF -$140M
MUU Direxion Daily MU Bull 2X ETF -$122M
PLTU Direxion Daily PLTR Bull 2X ETF -$94M

Note: the following fund(s) were excluded from the flow totals above because the weekly flow exceeds 75% of the fund’s AUM and may be the result of a custom rebalance: SNK ($82M).

Issuer League Table Update

Direxion and GraniteShares continue to dominate the Single Stock landscape, commanding 31.3% and 21.5% of the market share, respectively. However, these two market leaders also experienced the week’s largest outflows, shedding a combined $854 million. In contrast, Tradr led all issuers with $218 million in net inflows, largely on the strength of a single fund.

Top 5 Issuers by AUM

Brand Fund Count AUM AUM Market Share
Direxion 60 $13.01B 31.34%
GraniteShares 73 $8.91B 21.47%
YieldMax 41 $5.94B 14.30%
Tradr 71 $4.97B 11.98%
Defiance 65 $2.73B 6.56%

Top & Bottom 3 Issuers by 5-Day Flow

Brand 5-Day Flow
Inflows
Tradr $218M
Leverage Shares $138M
ProShares $22M
Outflows
Direxion -$587M
GraniteShares -$267M
T-Rex -$70M

For a deeper dive into these trends, access our FREE, in-depth Single Stock 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.