Top Performing Leveraged/Inverse ETFs: 05/12/2024

1. 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 ~17% last week as the release of weaker-than-expected U.S. jobs data bolstered expectations for the Federal Reserve to lower interest rates.

2. 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 over ~13% last week as gold ascends amid anticipation of a reduction in interest rates.

3. AGQ – Proshares Ultra Silver

AGQ ETF which offers 2x daily long leverage to the Silver bullion returned ~13% last week. The silver ETF gained, as disappointing U.S. jobs data fueled anticipation of a Fed rate cut.

4. UTSL – Direxion Daily Utilities Bull 3X Shares

UTSL which provides daily 3x exposure to an index of utility companies in the U.S. was another candidate on the top performing levered/ inverse ETFs list as the utility sector gained by more than 3.5% in the last five days. The AI boom is sparking investor interest in utilities. Experts believe the surge in power consumption by data centers could significantly benefit the sector. Utility was the best-performing sector in the last week.

5. 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 10% in the last week.

6. 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 leveraged ETFs last week. Shares of Facebook’s parent company, Meta gained on rising rate cut bets.

7. 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 following a surge in global stocks, driven by strong corporate earnings reports and growing optimism that central banks will soon cut interest rates.

8. FAS – Direxion Daily Financial Bull 3X Shares

FAS ETF offers 3x daily long leverage to the Russell 1000 Financial Services Index. Financials sector gained by ~1.4% in the last five days amid strong corporate earnings and rising dollar and yields ahead of CPI data next week.

9. BNKU – MicroSectors U.S. Big Banks Index 3X Leveraged ETNs

BNKU which tracks 3x the performance of an equal-weighted index of US large banks, featured on the list of top-performing levered ETFs as the Financials sector gained by ~1.4%. Stocks gained from an overall positive rally. The Commercial Banking segment gained ~1.9% in the last five days.

10. UPW – ProShares Ultra Utilities

This ETF offers 2x daily long leverage to the Dow Jones U.S. Utilities Index was another utilities-focused ETF and made it to the list with ~8.3% weekly gains.

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