Top Performing Leveraged/Inverse ETFs: 07/21/2024

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 nearly ~36% weekly returns on increased prospects of Donald Trump becoming the next U.S. President following the assassination attempt on him. The value of cryptocurrencies surged last week following Trump’s announcement of Senator J.D. Vance, a known proponent of cryptocurrency, as his vice-presidential candidate.

2. BITX – 2X Bitcoin Strategy ETF

BITX, which seeks daily investment results, before fees and expenses, that correspond to two times the excess return of the S&P CME Bitcoin Futures Daily Roll Index, ranked second on the leveraged ETFs’ list with ~34% returns last week.

3. BITU – ProShares Ultra Bitcoin ETF

BITU was another crypto-fund on the list of leveraged ETFs last week as Bitcoin gained momentum amid higher prospects of interest rate cuts and Donald Trump winning the election in November.

4. SOXS – Direxion Daily Semiconductor Bear 3x Shares

The SOXS ETF inversely tracks the performance of the PHLX Semiconductor Index, ranked fourth on the list of levered/ inverse ETFs with 29% returns in the last week. The semiconductor sector fell ~4.7% on higher odds of Trump coming to power. Technology was the worst-performing sector last week in response to Trump’s advocacy for higher tariffs on Chinese imports. Additionally, Biden is also considering stricter measures on chip technology suppliers to China.

5. UVIX – 2x Long VIX Futures ETF

UVIX, which offers daily 2x leveraged exposure to short-term VIX futures, featured on the top-performing leveraged ETFs as market volatility increased driven by the higher chances that Trump could become the new US President. This new development pushed the previously higher tech and chip stocks down and contributed to increasing market volatility. Gold prices also increased amid higher prospects of rate cuts and rising geopolitical tensions. VIX, the CBOE Volatility index increased to ~14.9 from ~13.3 in the prior week.

6. ETHT – ProShares Ultra Ether ETF

ETHT which tracks 2x the daily price movements of an index that measures the price of Ether was one of the ETFs on the list. Ether’s recent price increase is fueled by anticipation of the first U.S. spot Ethereum ETF launch and the upcoming Pectra upgrade early next year.

7. 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 major U.S. banks gave upbeat second-quarter results. A potential Fed rate cut in September could steepen the yield curve, benefiting regional banking stocks.

8. UVXY – ProShares Ultra VIX Short-Term Futures ETF

UVXY, which offers leveraged exposure to an index comprised of short-term VIX futures contracts was another volatility-focused fund on the top-performing levered ETFs last week as volatility increased. A global tech outage also rattled an already volatile market.

9. SSG – Proshares Ultrashort Semiconductors

SSG ETF which offers 2x daily short leverage to the Dow Jones U.S. Semiconductors Index was another top performing inverse semiconductor ETF, gaining by nearly ~18.5% last week.

10. BERZ – MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN

The BERZ ETF provides daily -3x inverse exposure to an index of FANG and technology companies also featured on the list of top-performing inverse ETFs with ~17.7% weekly returns amid chances of Trump winning the Presidential elections in November. The tech sector took a hit last week after Trump’s improving chances signaled a potential increase in tariffs on Chinese imports, raising concerns about higher costs.

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