Top Performing Leveraged/Inverse ETFs: 02/04/2024

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. 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 the top leveraged ETF last week. Shares of Facebook’s parent company, Meta Platforms, surged after the company declared its first-ever dividend and reported strong financial results.

2. MSOX – AdvisorShares MSOS 2x Daily ETF

MSOX, which seeks to achieve 2x the total daily return of the AdvisorShares Pure US Cannabis ETF (MSOS) through swap agreements featured on the list with a ~26% weekly return, as the US cannabis companies are expected to gain from the possible repeal of the 280E tax.

3. YANG – Direxion Daily FTSE China Bear 3X Shares

YANG, which offers 3x daily short leverage to the FTSE China 50 Index, ranked on the top performing leveraged/ inverse ETFs’ list returning ~17% last week, as Chinese equities remain mired amid geopolitical issues, depressed real estate market, high unemployment, deflation, and lack of investor confidence and strong government support measures.

4. NVDL – GraniteShares 1.5x Long NVDA Daily ETF

NVDL, which provides 1.5x leveraged exposure to the daily price movement for shares of NVIDIA stock, ranked among the contenders on the list with 16%+ returns last week as the demand for its artificial intelligence hardware continues to grow.

5. KORU – Direxion MSCI Daily South Korea Bull 3X Shares

KORU provides 300% daily leveraged exposure to an index of large- and mid-cap South Korean companies, featured on the list of top performing leveraged ETFs last week, supported by higher South consumer price index and expectations that the upcoming regulations might improve corporate governance and shareholder returns.

6. CARU – MAX Auto Industry 3X Leveraged ETN

CARU is an ETN that tracks 3x of the daily price movements of an index consisting of auto industry companies listed in the U.S. The ETN got a boost with nearly 15% weekly returns.

7. SCO – ProShares UltraShort Bloomberg Crude Oil

SCO, which offers 2x daily short leverage to the broad-based Dow Jones-UBS Crude Oil Sub-Index, made it to the list with ~14% weekly gains after ceasefire negotiations between Israel and Hamas stalled, dragging down oil prices as the potential for prolonged conflict raised concerns about supply disruptions.

8. AMZU – Direxion Daily AMZN Bull 1.5X Shares ETF

AMZU provides 1.5x leveraged exposure to the daily price movement for shares of Amazon stock after the company posted better-than-expected results for the fourth quarter of 2023.

9. FNGU – MicroSectors FANG+™ Index 3X Leveraged ETN

FNGU was also on the list of top-performing leveraged ETFs with ~11.5% weekly returns as the technology giants gave strong fourth-quarter results, and Meta stole the show by declaring its first-ever dividends. FNGU offers exposure to five core technology companies – Facebook, Amazon, Apple, Netflix, and Alphabet Inc. The overall technology sector gained by 0.4% in the last five days.

10. FXP – ProShares UltraShort FTSE China 50

FXP, which offers inverse exposure to China’s large cap stocks, was another China-focused ETF that gained more than 11% in the last week.

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