Weekly Channel Summary
The Leverage & Inverse channel closed the week with $153.84B in total AUM spread across 775 ETFs from 27 issuers. Net flows were positive for the period, with $2,039M entering the channel over the trailing 5 days. Year-to-date net inflows stand at $22,416M, while the 1-Year net flow figure totals $25,761M, underscoring sustained investor appetite for leveraged and inverse exposure despite recent volatility.
This Week’s Performance Leaders and Laggards
Leverage | Inverse – Commodity led all categories on the week with a 7.29% gain, though it remains deeply negative YTD at -28.48%, reflecting a sharp short-term rebound within a longer downtrend. Fixed Income inverse products posted a modest 0.66% weekly gain. At the other end, Single Stock leveraged products were the weakest performer, falling 16.76% WTD and extending 1-Year losses to -7.77%, while Equity leveraged products also declined 11.12% WTD. Among individual funds, MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN (NRGD) stood out with a 49.00% weekly gain, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) was the week’s steepest decliner at -40.34%, highlighting the volatility embedded in single-stock and sector-concentrated leveraged exposures.
Top & Bottom 5 ETFs by Weekly Performance
Commodity and energy-linked leveraged/inverse products dominated the top of the weekly performance table, led by NRGD’s 49.00% advance, followed closely by MicroSectors Energy 3X Inverse Leveraged ETNs (WTID) at 45.19% and MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN (OILD) at 42.67%. Gold miner exposure also featured prominently, with MicroSectors Gold Miners 3X Leveraged ETN (GDXU) up 41.95%. Conversely, semiconductor and memory-chip leveraged products suffered the week’s largest losses, with SOXL down 40.34% and Defiance Daily Target 2X Long DRAM ETF (DRAL) falling 37.62%. The inverse counterpart to the gold miner trade, MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD), also landed among the bottom performers at -36.03%, illustrating the magnified swings across both long and short positioning in the same underlying sectors.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| NRGD | MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN | 49.00% |
| WTID | MicroSectors Energy 3X Inverse Leveraged ETNs | 45.19% |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN | 42.67% |
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | 41.95% |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | 36.23% |
| Bottom Performers | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | -40.34% |
| DRAL | Defiance Daily Target 2X Long DRAM ETF | -37.62% |
| RAM | Roundhill T-REX 2X Long DRAM Daily Target ETF | -37.42% |
| RAML | Leverage Shares 2X Long Memory Daily ETF | -37.41% |
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -36.03% |
Analyzing the Weekly Flows
The channel attracted $2,039M in net inflows over the trailing week, led decisively by the Leverage | Inverse – Equity category, which gathered $2,230M in 5-day flows and $16,481M over 30 days. Single Stock products added a modest $98M over the same period despite heavier longer-term inflows of $10,963M YTD and $14,841M over 1 Year. On the outflow side, Commodity-linked leveraged products saw $205M leave the category over the week, while Fixed Income shed $70M, both diverging from their strong YTD and 1-Year inflow totals of $6,203M and -$1,463M, respectively. Crypto products posted a smaller $13M weekly outflow, consistent with recent short-term softness in that segment.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Equity | 240 | $120.77B | $2,230M | $16,481M | $14,412M | $5,537M | $4,067M |
| Leverage | Inverse – Single Stock | 467 | $22.68B | $98M | -$74M | -$1,227M | $10,963M | $14,841M |
| Leverage | Inverse – Crypto | 27 | $3.66B | -$13M | -$129M | -$174M | $1,177M | $1,685M |
| Leverage | Inverse – Fixed Income | 19 | $2.80B | -$70M | -$546M | -$169M | -$1,463M | -$1,731M |
| Leverage | Inverse – Commodity | 22 | $3.93B | -$205M | -$18M | $616M | $6,203M | $6,899M |
Top & Bottom 5 ETFs by 5-Day Flow
SOXL dominated weekly inflows, pulling in $5,097M as investors leaned into leveraged semiconductor exposure, followed distantly by ProShares UltraPro QQQ (TQQQ) with $1,537M. Smaller inflows went to Tradr 2X Long SNDK Daily ETF (SNXX) and GDXU, at $202M and $165M respectively. On the outflow side, Direxion Daily Semiconductor Bear 3X ETF (SOXS) led all redemptions with $2,217M exiting the fund, followed by ProShares Ultra S&P 500 (SSO) at -$1,085M. The pairing of heavy SOXL inflows against sharp SOXS outflows underscores a pronounced bullish tilt in leveraged semiconductor positioning this week.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | $5,097M |
| TQQQ | ProShares UltraPro QQQ | $1,537M |
| SNXX | Tradr 2X Long SNDK Daily ETF | $202M |
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | $165M |
| UPRO | ProShares UltraPro S&P500 | $152M |
| Outflows | ||
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -$2,217M |
| SSO | ProShares Ultra S&P 500 | -$1,085M |
| QLD | ProShares Ultra QQQ | -$524M |
| SQQQ | ProShares UltraPro Short QQQ | -$244M |
| SPXL | Direxion Daily S&P 500 Bull 3X ETF | -$203M |
Issuer League Table Update
ProShares and Direxion remain the dominant forces in the channel, commanding 50.81% and 32.63% market share with $78.17B and $50.20B in AUM, respectively, across a combined 237 funds. Direxion led all issuers in weekly inflows, gathering $2,047M, consistent with the strong demand seen in its semiconductor-focused products. GraniteShares and Tradr also posted positive weekly flows of $188M and $182M. On the outflow side, ProShares experienced the largest weekly redemptions among issuers at -$475M, with Defiance and Leverage Shares seeing smaller outflows of -$80M and -$22M, respectively.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 112 | $78.17B | 50.81% |
| Direxion | 125 | $50.20B | 32.63% |
| REX Microsectors | 36 | $6.84B | 4.45% |
| GraniteShares | 44 | $6.56B | 4.26% |
| Volatility Shares | 9 | $2.37B | 1.54% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Direxion | $2,047M |
| GraniteShares | $188M |
| Tradr | $182M |
| Outflows | |
| ProShares | -$475M |
| Defiance | -$80M |
| Leverage Shares | -$22M |
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.
