Top Performing Leveraged/Inverse ETFs: 05/19/2024

1. BOIL – ProShares Ultra Bloomberg Natural Gas

BOIL, the natural gas ETF topped the list of top-performing leveraged ETFs and gained more than ~25.9% in the last week. US natural gas prices are on the rise driven by smaller-than-anticipated injections into storage facilities and the full resumption of operations at Freeport LNG.

2. AGQ – Proshares Ultra Silver

AGQ ETF which offers 2x daily long leverage to the Silver bullion returned ~24.5% last week. The silver ETF gained, on rising interest rate cut bets in the U.S.

3. 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, featured on the leveraged ETFs’ list as the Crypto markets rallied on cooler inflation data and Fed rate cut hopes.

4. BABX – GraniteShares 1.75x Long BABA Daily ETF

BABX which provides 1.75x leveraged exposure to the daily price movement for shares of Alibaba Group Holding Limited stock was one of the leveraged ETFs’ making to the list with over ~20% weekly gains. Alibaba’s stock surged fueled in part by JD.com’s stronger-than-expected earnings report. Recent Chinese government actions have also boosted investor confidence in the markets.

5. YINN – Direxion Daily FTSE China Bull 3X Shares

YINN seeks daily investment results of 300% of the performance of the FTSE China 50 Index featured on the list, returning 17% in the last week. Factors like China’s stimulus measures and steady loan prime rates drove a surge in Chinese stocks.

6. 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 returned over ~15% last week as strong bets on interest rate cuts and China’s stimulus measures led to an increase in the demand for the yellow metal.

7. CWEB – Direxion Daily CSI China Internet Index Bull 2x Shares

The Direxion Daily CSI China Internet Index Bull 2x Shares which seeks daily investment results of 200% of the performance of the CSI Overseas China Internet Index, was another China-focused fund that made it on the list with ~14.5% returns last week.

8. JNUG – Direxion Daily Junior Gold Miners Index Bull 2x Shares

JNUG seeks daily investment results of 200% of the performance of the MVIS Global Junior Gold Miners Index. The index tracks the performance of foreign and domestic companies engaging in gold and silver mining. JNUG was another precious metals candidate on the top-performing levered/ inverse ETFs list returning over ~13% last week as gold ascends amid anticipation of a reduction in interest rates. Major commodities also surged on China’s stimulus measures.

9. TARK – AXS 2X Innovation ETF

TARK is an actively managed fund-of-fund that seeks to achieve 2x the return, for a single day, of the ARK Innovation ETF (ARKK) and is one of the best-performing levered ETFs with ~11.8% weekly gains as growth and beta stocks moved higher on expectations of a rate hike pause.

10. XPP – ProShares Ultra FTSE China 50

Another China-focused ETF, XPP offering 2x daily long leverage to the FTSE/Xinhua China 25 Index ranked among the top levered ETFs. The ETF gained more than 11% in the last week.

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