Top Performing Leveraged/Inverse ETFs: 11/17/2024

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. LABD – Direxion Daily S&P Biotech Bear 3x Shares

The biotech fund, LABD which offers inverse exposure to the US Biotechnology sector gained ~42% last week. Healthcare was the worst-performing sector registering a decline of ~5% in the last five days and the Biotech sector fell more than 7%. Healthcare stocks fell after President-elect Donal Trump appointed anti-vaccine activist Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Investors fear that his administration will prioritize deregulation and increased market competition in healthcare.

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 ~39% returns last week. Trump’s crypto-enthusiasm, both on the campaign trail and in his investments, is fueling speculation that his administration will adopt crypto-friendly policies, drawing investors to the market.

3. BITU – ProShares Ultra Bitcoin ETF

BITU was another crypto-fund on the list of leveraged ETFs last week as Bitcoin gained momentum with Donald Trump winning the election in November.

4. SOXS – Direxion Daily Semiconductor Bear 3x Shares

The SOXS ETF inversely tracks the PHLX Semiconductor Index featured on the list of levered/ inverse ETFs with ~30% returns in the last week as Applied Materials’s forecasted revenue range fell short of analysts’ expectations. The semiconductor sector fell by more than ~4.5% and the broader Technology sector also registered a fall of over ~2%.

5. GDXD – MicroSectors Gold Miners -3X Inverse Leveraged ETNs

GDXD, which offers inverse leveraged exposure to Global Gold Miners, was one of the top performing levered/ inverse ETFs returning ~30% last week. Higher inflation could prompt the Fed to slow down its easing, boosting the dollar and weighing on gold prices.

6. BIS – ProShares UltraShort Nasdaq Biotechnology

BIS ETF which offers 2x daily short leverage to the broad-based NASDAQ Biotechnology Index was another Biotech ETF on the list with ~23% weekly gains.

7. CONL – GraniteShares 1.5x Long Coinbase Daily ETF

CONL ETF provides 1.5x leveraged exposure to the daily price movement for shares of Coinbase stock also featured on the list with nearly ~21.5% weekly returns. Cryptocurrencies rallied following Donald Trump’s reelection, driven by hopes of a more favorable regulatory climate.

8. DUST – Direxion Daily Gold Miners Index Bear 2x Shares

DUST which provides inverse levered exposure to Global Gold Miners was another top inverse ETF returning ~20% last week amid a strong dollar.

9. JDST – Direxion Daily Junior Gold Miners Index Bear 2X Shares

Direxion Daily Junior Gold Miners Index Bear 2X Shares or JDST, which seeks daily investment results of 200% of the inverse of the performance of the MVIS Global Junior Gold Miners Index also featured on the top performing inverse ETFs’ list, returning ~19% in the last week.

10. DULL – MicroSectors Gold -3X Inverse Leveraged ETNs

DULL ETN provides 3x daily inverse leveraged exposure to the spot price of gold by tracking GLD and was another top performing inverse fund with ~14% in weekly gains.

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