Top Performing Leveraged/Inverse ETFs: 11/24/2024

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. 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 topped the list with over ~23% returns last week as gold prices surged, fueled by a weaker U.S. dollar and rising geopolitical risks in the Middle East and Eastern Europe. Also, investors are eyeing the upcoming U.S. economic data for clues on the Fed’s next rate move.

2. TSLL – Direxion Daily TSLA Bull 1.5X Shares ETF

TSLL which provides 1.5x leveraged exposure to the daily price movement for shares of Tesla stock featured second on the list of top-performing levered ETFs with ~20% returns in the last week. Shares of Tesla have soared on hopes of policy changes favoring President-elect Trump’s ally, but this rally is purely momentum-driven.

3. URAX – Defiance Daily Target 2x Long Uranium ETF

URAX seeks to provide 2x leveraged exposure to the daily share price movement of the Global X Uranium ETF, which was on the list returning 18% last week. Uranium prices got a boost from Russia’s uranium export curb presenting an opportunity for U.S. miners to capitalize on higher prices. Donald Trump’s incoming administration could also spur growth in the U.S. military and cybersecurity sectors acting as a tailwind for uranium prices.

4. CLDL – Direxion Daily Cloud Computing Bull 2X Shares

Direxion Daily Cloud Computing Bull 2X Shares that seek daily investment results, of 200% of the performance of the Indxx USA Cloud Computing Index also featured on the list with ~17% weekly gains driven by rising demand for cloud computing. Cloud revenues are set to hit $2 trillion by 2030, driven by AI.

5.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 among the leveraged ETFs with ~17% returns last week driven by Trump’s crypto-enthusiasm.

6. SHNY – Direxion Daily Silver Miners Index Bull 2x Shares

SHNY which provides a 2x exposure to global silver mining firms also featured on the list with ~17% weekly gains as supported by a weaker U.S. dollar and rising geopolitical risks.

7. 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.

8. 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 leveraged ETFs. The ETF gained more than 15% in the last week.

9. HIBL – Direxion Daily S&P 500 High Beta Bull 3X Shares

The HIBL ETF provides 3x daily leveraged exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. S&P 500 index gained as investors monitored Trump’s progress in assembling his team and Bitcoin almost reaching a crucial price level.

10. 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 was another contender on the list of top-performing levered ETFs as the electric vehicle sector is experiencing a boom, with Tesla leading the charge.

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