Top Performing Leveraged/Inverse ETFs: 07/16/2023

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, was the top performing levered ETF with ~51% weekly gains. Shares of Coinbase stock gain on optimism around Bitcoin ETFs and regulatory clarity.

2. NAIL – Direxion Daily Homebuilders & Supplies Bull 3X Shares

The NAIL ETF that focuses on the US housing segment returned more than 27%, supported by lower bond yields and positive comments from U.S. Treasury Secretary Yellen. The real estate sector gained ~1.4% in the last five days.

3. 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 returned over ~27% last week as gold rose amid signs of cooling inflation data signaling the possibility of interest rate hike pauses sooner than expected.

4. TARK – AXS 2X Innovation ETF

TARK is an actively-managed fund-of-fund that seeks to achieve 2x the return, for a single day, of the ARK Innovation ETF (ARKK) and is one of the best-performing levered ETFs with over 23% weekly gains as growth and beta stocks moved higher on robust U.S. economic data and expectations of a rate hike pause.

5. 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 ~20% last week.

6. KORU – Direxion MSCI Daily South Korea Bull 3X Shares

KORU provides 300% daily leveraged exposure to an index of large- and mid-cap South Korean companies, featured on the list of top performing leveraged ETFs last week, as most Asian markets gained following the rising U.S. stock market.

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

Another gold ETF, NUGT seeks daily investment results of 200% of the performance of the NYSE Arca Gold Miners Index, ranked among the top levered ETFs. The ETF gained more than 17% in the last week.

8. EURL – Direxion Daily FTSE Europe Bull 3x Shares

EURL provides 3X daily levered exposure to an index of companies in developed Europe and was one of the top performing levered ETFs as investors grew optimistic amid hopes that the U.S. Fed was nearing its rate hiking cycle and as China took measures to strengthen its real estate sector further.

9. WEBL – Direxion Daily Dow Jones Internet Bull 3X Shares

WEBL providing 3x leveraged daily exposure to an index of the largest U.S. internet companies, was present on the list with over ~16% returns in the last week as internet stocks stand a good chance to gain from expected lower interest rates/ rate hike pause.

10. AGQ – Proshares Ultra Silver

AGQ ETF, which offers 2x daily long leverage to the Silver bullion, returned more than 15% last week. The silver ETF gained amid signs of cooling inflation data and the possibility of lower interest rate hikes.

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