Weekly Channel Summary
The Leverage | Inverse ETF channel currently commands $140 billion in Assets Under Management (AUM) distributed across 577 unique products from 25 active issuers. The channel experienced strong positive momentum this past week, capturing $760 million in net new inflows. This recent surge pushes the year-to-date net flows to $640 million, while trailing 1-year flows remain modestly positive at $90 million.
This Week’s Performance Leaders and Laggards
The divergence in returns was incredibly pronounced this week, largely dictated by extreme volatility in commodities and digital assets. The Commodity: Focused – Energy segment led the entire channel with a massive 10.89% weekly surge, trailed by Digital Asset: Cryptocurrency – Bitcoin which gained a robust 4.60%. Conversely, significant value was shed in the metals and consumer segments, with the Equity: Thematic – Precious Metals category plummeting -7.88% and Equity: Thematic – Natural Resources tumbling -4.20%, illustrating wide dispersion across alternative and thematic exposures.
Top & Bottom 5 ETFs by Weekly Performance
Leading the pack for individual products was the GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs), soaring an impressive 26.28% over the past week. On the opposite end of the spectrum, its bullish counterpart, GDXU (MicroSectors Gold Miners 3X Leveraged ETN), suffered the steepest decline at -24.46%, followed closely by SCO (ProShares UltraShort Bloomberg Crude Oil) which gave back -19.29%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | 26.28% |
| TXXS | 21Shares 2x Long Sui ETF | 22.87% |
| UCO | ProShares Ultra Bloomberg Crude Oil | 20.29% |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | 19.18% |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | 16.79% |
| Bottom Performers | ||
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | -24.46% |
| SCO | ProShares UltraShort Bloomberg Crude Oil | -19.29% |
| JNUG | Direxion Daily Junior Gold Miners Index Bull 2X ETF | -17.74% |
| NUGT | Direxion Daily Gold Miners Index Bull 2X ETF | -15.93% |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X ETF | -15.87% |
Analyzing the Weekly Flows
In total, the channel pulled in a robust $760 million in net new cash this week. The Leverage | Inverse – Equity category was the undeniable leader, commanding $560 million in fresh capital and pushing its total AUM to just under the $100 billion threshold ($99.98B). The Leverage | Inverse – Commodity category also enjoyed substantial interest with $276 million in positive flows. However, not all segments were winners; the highly specific Leverage | Inverse – Single Stock segment experienced the heaviest redemptions, bleeding $231 million over the 5-day period.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Equity | 192 | $99,985M | $560M | $2,192M | -$4,255M | -$4,558M | -$14,277M |
| Leverage | Inverse – Commodity | 16 | $6,582M | $276M | $426M | $2,364M | $2,025M | $2,707M |
| Leverage | Inverse – Fixed Income | 15 | $3,803M | $86M | $25M | -$943M | -$850M | -$1,781M |
| Leverage | Inverse – Crypto | 22 | $3,402M | $68M | $256M | $859M | $778M | $4,760M |
| Leverage | Inverse – Single Stock | 321 | $25,991M | -$231M | $411M | $4,386M | $3,230M | $8,668M |
Top & Bottom 5 ETFs by 5-Day Flow
At the product level, the SOXL (Direxion Daily Semiconductor Bull 3X ETF) was an asset-gathering magnet, taking in a massive $535 million. On the outflow side, major broad-market leveraged products shed assets, led by the SSO (ProShares Ultra S&P 500) and the QLD (ProShares Ultra QQQ), which saw $120 million and $107 million in net redemptions, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | $535M |
| SCO | ProShares UltraShort Bloomberg Crude Oil | $380M |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X ETF | $146M |
| TNA | Direxion Daily Small Cap Bull 3X ETF | $106M |
| SH | ProShares Short S&P500 | $93M |
| Outflows | ||
| SSO | ProShares Ultra S&P 500 | -$120M |
| QLD | ProShares Ultra QQQ | -$107M |
| SQQQ | ProShares UltraPro Short QQQ | -$96M |
| UPRO | ProShares UltraPro S&P500 | -$94M |
| UGL | ProShares Ultra Gold | -$64M |
Issuer League Table Update
ProShares and Direxion continue their overwhelming dominance of the Leverage | Inverse landscape, holding a combined 81.4% of the channel’s AUM. Direxion was the undisputed winner in weekly asset gathering, independently pulling in $941 million. Conversely, GraniteShares experienced the steepest weekly outflows, shedding $199 million over the trailing 5-day period.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $65.77B | 47.05% |
| Direxion | 124 | $48.02B | 34.35% |
| GraniteShares | 39 | $7.33B | 5.24% |
| REX Microsectors | 19 | $6.94B | 4.96% |
| Tradr | 59 | $2.69B | 1.93% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Direxion | $941M |
| Tradr | $87M |
| Volatility Shares | $39M |
| Outflows | |
| GraniteShares | -$199M |
| T-Rex | -$62M |
| Defiance | -$59M |
For a deeper dive into these trends, access our FREE, in-depth Leverage | Inverse ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
