Top Performing Leveraged/Inverse ETFs: 03/24/2024

1. 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 topped this week’s list of top-performing levered ETFs as investors got excited about cannabis stocks again, fueled in part by recent developments in the U.S. and Europe.

2. NAIL – Direxion Daily Homebuilders & Supplies Bull 3X Shares

The NAIL ETF that focuses on the US housing segment was one of the candidates on the list of top performing levered ETFs returning over 16% amid strong housing market sales and positive economic indications suggesting the economy is weathering high interest rates.

3. 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 third on the Leveraged/ Inverse ETFs’ list with 14.6% returns last week. Shares of this tech giant gained supported by Nvidia’s next-generation AI chips unveiled at its GPU Tech Conference.

4. FLYU – MicroSectors Travel 3x Leveraged ETN

FLYU tracks 3x of the daily price movements of an index of US-listed travel-related companies and featured on the list of leveraged ETFs last week. Airline stocks took flight on a confluence of positive news. UBS analysts’ forecast of easing cost pressures and rising margins later in the year provided a lift to the industry. Additionally, the prospect of continued low-interest rates buoyed all three major market indexes, with even Boeing stock experiencing a welcome uptick.

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

FNGU was also on the list of top-performing leveraged ETFs with ~13% weekly returns as the technology sector surged thanks to powerhouse performances from tech giants Nvidia and Alphabet and indications of rate cuts more likely this year.

6. 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 ~0.78%. Stocks gained from an overall positive rally from dovish Fed comments. The Commercial Banking segment gained by ~1.88% in the last five days.

7. CARU – MAX Auto Industry 3X Leveraged ETN

CARU is an ETN that tracks 3x of the daily price movements of an index of auto industry companies listed in the U.S. The ETN got a boost with over 12% weekly returns on increased activity in the hybrid car market and the upcoming launch of innovative super electric cars and superchargers.

8. BULZ – MicroSectors Solactive FANG & Innovation 3X Leveraged ETN

The BULZ ETF was one of the best-performing levered ETFs with around ~12% returns. The ETF focuses on top technology companies domiciled in the U.S. The technology sector gained by more than ~0.45% fueled by AI hopes and a resurgent chip market.

9. USD – ProShares Ultra Semiconductors

USD which provides leveraged exposure to the U.S. Semiconductors stocks made it to this week’s list with over ~10% weekly gains as the semiconductor segment gained by ~3.5% in the last five days. The semiconductor sector continues its ascent after the Fed Chair indicated that rate reductions will “likely be appropriate” later this year.

10. 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 Platforms, surged after the social media giant showcased its achievements in utilizing generative artificial intelligence (AI) to increase user engagement.

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