Top Performing Leveraged/Inverse ETFs: 04/21/2024

1. SOXS – Direxion Daily Semiconductor Bear 3x Shares

The SOXS ETF inversely tracks the PHLX Semiconductor Index and topped the list of levered/ inverse ETFs with 31% returns in the last week. The semiconductor sector fell by more than 6% along with the broader decline in the market. Technology also registered a fall of over 4% and was the worst performing sector after disappointing sales figures from ASML. The broader market dipped as concerns about future interest rates lingered following comments from Federal Reserve Chair Jerome Powell earlier last week.

2. FNGD – MicroSectors FANG+™ Index -3X Inverse Leveraged ETN

FNGD ETF, which provides inverse exposure to the US big tech equity ranked second on the list of top inverse ETFs as the technology sector lost ~4% in the last five days. Tech stocks led the market decline last week after disappointing sales figures from Dutch chip equipment giant ASML and dissipating heat around AI.

3. 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 ~26% weekly returns amid uncertainty around interest rate outlook and higher Treasury yields.

4. 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 ETF, gaining by nearly 25% last week. The semiconductor segment registered a fall of more than 6% in the last five days.

5. TECS – Direxion Daily Technology Bear 3X Shares

Another inverse technology ETF, TECS made it to the list gaining around 21% last week amid rising Treasury yields and fears of an AI bubble bursting.

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

The biotech fund, LABD which offers inverse exposure to the US Biotechnology sector gained almost 20% last week with the healthcare sector registering a gain of just ~0.6% in the last five days. Healthcare stocks fell following larger market declines amid rising tensions in the Middle East regions and uncertainty around the future interest rates.

7. NVDS – AXS 1.25X NVDA Bear Daily ETF

NVDS, which provides a 1.25x inverse exposure, to the daily price movement for shares of Nvidia stock featured on the list with ~11.6% returns last week as AI jitters sparked a sell-off, with investors rushing to unload tech stocks amid fears of an AI bubble bursting.

8. SQQQ – ProShares UltraPro Short QQQ

SQQQ ETF offers 3x daily short leverage to the NASDAQ-100 Index, which is heavily weighted on the technology, consumer discretionary, and communication services sectors, made it to the list as these sectors posted declines of over 4%, 2%, and 1% respectively in the last week.

9. WEBS – Direxion Daily Dow Jones Internet Bear 3X Shares

The WEBS ETF that tracks companies having a strong internet focus was present on the top performing levered/ inverse ETFs list last week. Tech stocks’ slump was driven by rising yields and the Fed’s uncertain stance on interest rates.

10. TSLQ – AXS TSLA Bear Daily ETF

TSLQ provides inverse exposure to the daily price movement for shares of Tesla stock, ranked among the inverse ETFs with nearly ~16% weekly returns. Tesla shares fell after the company implemented global price cuts, raising concerns on Wall Street about Tesla’s profit margins ahead of their upcoming earnings report.

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