Top Performing Leveraged/Inverse ETFs: 02/18/2024

1. CONL – GraniteShares 1.5x Long Coinbase Daily ETF

CONL ETF which provides 1.5x leveraged exposure to the daily price movement for shares of Coinbase stock topped the list with ~55% weekly returns on the back of approval received for spot Bitcoin ETFs, spot BTC ETF inflows, and surging enthusiasm for crypto investments.

2. KOLD – ProShares UltraShort Bloomberg Natural Gas

KOLD, which offers 2x daily inverse leveraged exposure to natural gas, ranked second on the list of top performing levered/ inverse ETFs returning ~20% last week, as natural gas consumption for heating dipped on forecast of warmer winters in the U.S.

3. BITX – 2X Bitcoin Strategy ETF

BITX, seeks daily investment results, before fees and expenses, that corresponds to two times the excess return of the S&P CME Bitcoin Futures Daily Roll Index, was one of the leveraged ETFs on the weekly list amid robust demand for spot-bitcoin ETFs and higher crypto trading.

4. YINN – Direxion Daily FTSE China Bull 3X Shares

YINN seeks daily investment results of 300% of the performance of the FTSE China 50 Index featured on the list, returning 9%+ in the last week as upbeat holiday travel data fuels a rally in China’s tourism sector.

5. PILL – Direxion Daily Pharmaceutical & Medical Bull 3X Shares

The PILL ETF tracks the performance of companies that are engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types. The ETF was one of the top performing levered ETFs returning ~8.6% this week. The pharma sector gained by ~1% in the last five days.

6.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 also made it on the list with ~8.5% returns last week fueled by a strong start to the Year of the Dragon and as China’s chip industry begin to gain momentum.

7. OILU – MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

OILU which provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production made it on the list with over 8% weekly gains. The oil, gas, and consumable fuels segment gained by around 0.11% in the last five days. Oil prices gained over supply worries amid increasing geopolitical tensions in the Middle East.

8. WTIU – MicroSectors Energy 3X Leveraged ETNs

WTIU, an exchange-traded note that tracks 3x of the daily price movements of an index of US-listed energy and oil companies, was another top-performing leveraged ETF last week with energy sector gaining by ~0.14% in the last five days.

9. TECS – Direxion Daily Technology Bear 3X Shares

Another inverse technology ETF, TECS made it to the list gaining around ~8% this week as technology stocks fell ~3% in the last five days dragged by declines in the Nvidia stock.

10. GUSH – Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares

GUSH, another oil & gas exploration and production ETF featured on the list of top performing levered ETFs, returning more than 7% last week amid escalating geopolitical tension in the Middle East and rising supply concerns.

For more news, information, and analysis, visit the Leveraged & Inverse Channel.