Top Performing Leveraged/Inverse ETFs: 12/15/2024

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. TSLL – Direxion Daily TSLA Bull 2X Shares ETF

TSLL which provides 2x leveraged exposure to the daily price movement for shares of Tesla stock topped the list of top-performing levered ETFs with ~39% returns in the last week. Tesla’s potential in fully autonomous driving and artificial intelligence alone is expected to reach a valuation of $1 trillion. The market expressed confidence that the Donald Trump administration will expedite the approval procedures for these advancements.

2. GGLL – Direxion Daily GOOGL Bull 2X Shares ETF

GGLL provides 2x leveraged exposure to the daily price movement for shares of Google stock featured second on the list with ~25% weekly gains. Tech stocks rose after a new consumer inflation report reinforced expectations of a Federal Reserve interest rate cut next week. Alphabet shares hit a record high following the release of its new Willow quantum computing chip.

3. TSL – GraniteShares 1.25x Long Tesla Daily ETF

TSL which provides 1.25x leveraged exposure to the daily share price movement of Tesla stock was another Tesla-focused fund on the list of top-performing levered ETFs giving over 23% returns last week.

4. BOIL – ProShares Ultra Bloomberg Natural Gas

BOIL, the natural gas ETF was on the list of top-performing leveraged ETFs and gained more than 15% in the last week. U.S. natural gas prices are rising due to a tightening balance between supply and demand.

5. WANT – Direxion Daily Consumer Discretionary Bull 3X Shares

The consumer discretionary WANT ETF that provides 3x leveraged exposure to the U.S. consumer discretionary sector featured on the list of top-performing levered funds last week. The consumer discretionary sector gained by ~3.5% and was the second best performing sector last week. The U.S. economy remained resilient in 2024, with Americans continuing to spend, driving market-beating performance in the consumer discretionary sector, despite headwinds from interest rates and inflation.

6. 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. The electric vehicle sector is experiencing a boom, as the incoming Trump administration with Tesla CEO Elon Musk playing a key role, is expected to aid Tesla’s development of self-driving cars and AI.

7. 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 ~12.5% weekly returns as investors expect Trump’s support to accelerate regulatory approval for the EV giant, Tesla’s autonomous driving technology. Resilient consumer spending also supported car companies.

8. 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 featured on the list with over ~12% returns last week as gold prices surged, supported by geopolitical concerns and a weaker dollar. Gold prices also responded to the upcoming Federal Reserve’s policy meeting, where a third rate cut and 2025 outlook guidance are expected.

9. AMZU – Direxion Daily AMZN Bull 2X Shares ETF

AMZU which provides 2x leveraged exposure to the daily price movement for shares of Amazon stock was one of the levered ETFs on last week’s list driven by Amazon Web Services’ announcement to launch AI supercomputer challenging Nvidia. Tech stocks also rallied after the latest inflation report bolstered expectations of a Fed rate cut.

10. 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 ~10% last week as gold ascended amid anticipation of a reduction in interest rates.

For more news, information, and analysis, visit the Leveraged & Inverse Channel.