Weekly Channel Summary
The Leveraged & Inverse ETF Channel comprises 572 ETFs across 25 issuers, representing approximately $149.54B in Total AUM. Weekly flows saw net outflows of -$439M, contributing to a Year-to-Date flow of -$3,866M. However, looking at the 1-Year timeframe, the channel maintains positive net flows of +$525M.
This Week’s Performance Leaders and Laggards
This week’s performance was marked by significant divergence, particularly favoring commodities and precious metals over digital assets and specific equity sectors. The ‘Equity: Thematic – Precious Metals’ and ‘Commodity: Focused – Precious Metals’ categories led the channel, posting strong week-to-date returns of +8.95% and +5.42%, respectively. Conversely, risk-on assets such as ‘Digital Asset: Cryptocurrency – Bitcoin’ lagged with a -3.11% decline, alongside ‘Equity: Sector – Financials’ dropping -1.95%. The action was heavily concentrated in leveraged gold and silver products on the upside, while inverse gold miners and regional bank products suffered severe drawdowns.
Top & Bottom 5 ETFs by Weekly Performance
Highlighting individual extremes, the single best-performing ETF was GDXU (MicroSectors Gold Miners 3X Leveraged ETN), soaring an impressive +29.05%. On the other end of the spectrum, the two worst-performing ETFs were GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs) and ZSL (ProShares UltraShort Silver), plummeting -24.46% and -23.39% respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | +29.05% |
| AGQ | ProShares Ultra Silver | +25.21% |
| JNUG | Direxion Daily Junior Gold Miners Index Bull 2X Shares | +20.54% |
| KORU | Direxion MSCI Daily South Korea Bull 3X Shares | +20.26% |
| QPUX | Defiance 2X Daily Long Pure Quantum ETF | +18.94% |
| Bottom Performers | ||
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -24.46% |
| ZSL | ProShares UltraShort Silver | -23.39% |
| DPST | Direxion Daily Regional Banks Bull 3X Shares | -21.42% |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X Shares | -17.85% |
| DUST | Direxion Daily Gold Miners Index Bear 2x Shares | -16.29% |
Analyzing the Weekly Flows
The channel experienced overall net outflows of -$439M this week. However, the ‘Leverage | Inverse – Single Stock’ category bucked the trend, taking in the most inflows at +$440M across its $27.34B in AUM. ‘Leverage | Inverse – Crypto’ also gathered a respectable +$48M. The heaviest outflows dragged on the ‘Leverage | Inverse – Equity’ category, which bled -$828M from its massive $108.51B asset base.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Single Stock | 309 | $27,343M | +$440M | +$3,211M | +$4,706M | +$3,381M | +$10,941M |
| Leverage | Inverse – Crypto | 22 | $3,331M | +$48M | +$582M | +$1,063M | +$628M | +$4,574M |
| Leverage | Inverse – Fixed Income | 15 | $3,973M | +$20M | -$687M | -$1,153M | -$975M | -$2,214M |
| Leverage | Inverse – Commodity | 16 | $6,378M | -$119M | +$429M | +$2,141M | +$1,406M | +$2,289M |
| Leverage | Inverse – Equity | 191 | $108,513M | -$828M | -$2,476M | -$12,088M | -$8,306M | -$15,064M |
Top & Bottom 5 ETFs by 5-Day Flow
From an individual product standpoint, KORU led the pack in absolute asset gathering, raking in +$244M. Heavy selling pressure was evident in broad market and tech exposures, with SSO and TQQQ suffering the top two highest outflows, losing -$298M and -$241M respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| KORU | Direxion MSCI Daily South Korea Bull 3X Shares | +$244M |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN | +$133M |
| BOIL | ProShares Ultra Bloomberg Natural Gas | +$100M |
| ZSL | ProShares UltraShort Silver | +$41M |
| SPXS | Direxion Daily S&P 500 Bear 3x Shares | +$33M |
| Outflows | ||
| SSO | ProShares Ultra S&P 500 | -$298M |
| TQQQ | ProShares UltraPro QQQ | -$241M |
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | -$201M |
| QLD | ProShares Ultra QQQ | -$169M |
| AGQ | ProShares Ultra Silver | -$159M |
Issuer League Table Update
ProShares and Direxion remain the undisputed titans of the Leveraged & Inverse space, controlling 46.62% and 34.70% of the market share, respectively. Despite their dominance, both experienced significant outflows this week. GraniteShares was the standout winner for asset gathering, collecting +$488M in weekly inflows, while ProShares bore the brunt of the channel’s redemptions, seeing the largest net outflows of -$984M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $69.74B | 46.62% |
| Direxion | 124 | $51.91B | 34.70% |
| REX Microsectors | 19 | $7.98B | 5.33% |
| GraniteShares | 39 | $7.87B | 5.26% |
| Tradr | 63 | $2.86B | 1.91% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| GraniteShares | +$488M |
| REX Microsectors | +$143M |
| Defiance | +$88M |
| Outflows | |
| ProShares | -$984M |
| Direxion | -$215M |
| Tradr | -$4M |
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.
