Top Performing Leveraged/Inverse ETFs: 07/30/2023

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. YINN – Direxion Daily FTSE China Bull 3X Shares

YINN seeks daily investment results of 300% of the performance of the FTSE China 50 Index. It provides leveraged exposure to the Chinese large-cap sector and topped the list of top-levered ETFs after the country announced new measures to boost consumption and ease property restrictions.

2. EVAV – Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares

EVAV, which tracks 2x the daily price movements of an index of US-listed electric and autonomous vehicles companies, ranked second on the levered ETFs’ list with ~26% weekly returns on the growing momentum seen in the electric cars space. Auto giants Tesla and BYD reported record Q2 vehicle sales.

3. CWEB – Direxion Daily CSI China Internet Index Bull 2x Shares

The Direxion Daily CSI China Internet Index Bull 2x Shares seeks daily investment results of 200% of the performance of the CSI Overseas China Internet Index featured third on the list with over ~25% returns last week after China’s recent policy actions to drive growth in China.

4. XPP – ProShares Ultra FTSE China 50

Another China-focused ETF, XPP, which offers 2x daily long leverage to the FTSE/Xinhua China 25 Index, ranked among the top levered ETFs. The ETF gained more than 17% in the last week.

5. FBL – GraniteShares 1.5x Long Meta Daily ETF

FBL provides 1.5x leveraged exposure to the daily price movement for shares of Meta Platforms and was one of the top levered ETFs last week. Meta reported better-than-expected second-quarter advertising revenue and gave a strong Q3 revenue forecast.

6. GGLL – Direxion Daily GOOGL Bull 1.5X Shares ETF

GGLL provides 1.5x leveraged exposure to the daily price movement for shares of Google stock featured on the list as the stock rose from a rebound in digital advertising and strong earnings report. Tech stocks also benefited on hopes that the Fed has reached the end of its interest rate hikes.

7. BABX – GraniteShares 1.75x Long BABA Daily ETF

BABX provides 1.75x leveraged exposure to the daily price movement for Alibaba Group Holding Limited stock shares. The stock gained on policy actions to boost economic growth in China.

8. DPST – Direxion Daily Regional Banks Bull 3X Shares

DPST, which provides 3x leveraged exposure to an index of US regional banking stocks, was one of the top-performing levered ETFs as stocks gained after the latest 25 basis points rate hike and stronger-than-expected GDP data.

9. CHAU – Direxion Daily CSI 300 China A Share Bull 2x Shares

The CHAU ETF, which seeks daily investment results, before fees and expenses, of 200% of the performance of the CSI 300 Index, comprising the largest and most liquid stocks in the Chinese A-share market, also made it to the list, with 13% weekly gains.

10. SOXL – Direxion Daily Semiconductor Bull 3x Shares

SOXL, which offers 3x daily long leverage to the PHLX Semiconductor Index, was one of the contenders on the top performing levered/ inverse ETFs list last week. The S&P500 semiconductor index gained by more than 4% in the last week after ON Semiconductor reported better-than-expected Q2 results and upcoming results from Qualcomm and Advanced Micro Devices.

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