Top Performing Leveraged/Inverse ETFs: 03/19/2023

These were last week’s top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly. Always do your homework.

1. CONL – GraniteShares 1.5x Long Coinbase Daily ETF

CONL which provides 1.5x leveraged exposure to the daily price movement for shares of Coinbase stock topped the list of top performing levered ETFs with ~65% weekly gains. Shares of Coinbase stock gained as investors looked to secure financial transactions during these uncertain times. Shares gained traction as investors shied away from banking stocks and looked for other investment options such as Bitcoins and cryptocurrencies.

2. GDXU – MicroSectors Gold Miners 3X Leveraged ETN

GDXU is a leveraged equity fund that provides 3x exposure to an index comprised of two of the largest gold miners’ ETFs, viz VanEck Gold Miners ETF (GDX) and VanEck Junior Gold Miners ETF (GDXJ), that invest in the global gold mining industry. GDXU ranked second on the list of top performing levered ETFs and returned over 36% last week as gold rose driven by its safe-haven credibility, the banking crisis in major economies, and lower interest rate hike predictions.

3. BNKD – MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs

BNKD which tracks three times the inverse performance of an equal-weighted index of US large banks featured on the top-performing inverse ETFs list. The financials sector was the second worst performing sector last week, adversely affected by the failures at SVB Financial Group and Signature Bank, and the crisis spreading to Europe, with the collapse of Credit Suisse as well. The Financial sector lost ~1% with the commercial banking segment declining by ~4% in the last week.

4. FNGU – MicroSectors FANG+™ Index 3X Leveraged ETN

FNGU was also on the list of top-performing levered ETFs with over ~28% weekly returns. FNGU offers exposure to five core technology companies – Facebook, Amazon, Apple, Netflix, and Alphabet Inc., as well as five other technology growth stocks, including Alibaba, Baidu, NVIDIA, Tesla, and Twitter. Technology stocks got a boost last week, driven by hopes of smaller interest rate hikes in the future, falling bond yields, and instability in the global banking system.

5. SCO – ProShares UltraShort Bloomberg Crude Oil

This ETF offers 2x daily short leverage to the broad-based Dow Jones-UBS Crude Oil Sub-Index and made it to the list with ~25% weekly gains as oil prices fell due to higher recession risks, lower demand concerns on the back of banking crisis, as well as higher inventories.

6. NUGT – Direxion Daily Gold Miners Index Bull 2x Shares

Another gold ETF, NUGT seeking daily investment results of 200% of the performance of the NYSE Arca Gold Miners Index, ranked among the top levered ETFs this week. The ETF gained more than 25% in the last week.

7. BULZ – MicroSectors Solactive FANG & Innovation 3X Leveraged ETN

The BULZ ETF was one of the best performing levered ETFs with ~25% returns. The ETF focuses on top technology companies domiciled in the U.S. The technology sector gained by more than ~5% in the last week driven by chaos in the U.S. banking industry, expectations of smaller rate hikes as well as declining bond yields.

8. JNUG – Direxion Daily Junior Gold Miners Index Bull 2x Shares

JNUG seeks daily investment results of 200% of the performance of the MVIS Global Junior Gold Miners Index. The index tracks the performance of foreign and domestic companies engaging in gold and silver mining. JNUG was another precious metals candidate on the top-performing levered/ inverse ETFs list returning ~23% last week.

9. OILD – MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN

OILD ETF, which provides exposure to the inverse performance of U.S. Oil, Gas & Consumable Fuels was another oil-focused fund on the list of top inverse ETFs as oil slid on lower demand and recession concerns.

10. WTID – MicroSectors Energy 3X Inverse Leveraged ETNs

WTID, was another inverse energy ETF on the list with over ~19% weekly gains as energy was the worst performing sector falling over ~3% in the last week. Both oil, gas, and consumable fuels as well as energy equipment and services segments fell by ~3% and ~5%, respectively over the last five days.

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