Weekly Channel Summary
The Leverage & Inverse ETF channel, comprising 479 ETFs from 25 issuers, holds approximately $165.2B in total assets under management. The channel experienced modest net inflows of $79M over the past week. This contrasts with the year-to-date trend, which has seen net outflows of $114M. Over the past year, the channel has attracted cumulative inflows of $3.53B.
This Week’s Performance Leaders and Laggards
It was a mixed week for performance, with “Equity: Region – Latin America” leading all categories with a 2.72% week-to-date (WTD) return. On the other end of the spectrum, “Equity: Thematic – FinTech” was the primary laggard, declining by 4.65% for the week.
Category Performance Snapshot
The table below breaks down the week-to-date performance of each category by its corresponding levered and inverse ETF implementations.
| Category | Levered: 2x | Levered: 3x | Levered: 4x | Inverse: 1x | Inverse: 2x | Inverse: 3x |
|---|---|---|---|---|---|---|
| Commodity: Focused – Agriculture | 6.16% | |||||
| Commodity: Focused – Energy | 2.06% | -2.55% | ||||
| Commodity: Focused – Industrial Metals | -1.44% | 4.07% | ||||
| Commodity: Focused – Precious Metals | -4.33% | -8.03% | 0.16% | |||
| Digital Asset: Cryptocurrency – Bitcoin | -2.62% | -0.26% | -0.69% | |||
| Equity: Emerging Large Cap | 0.57% | 0.87% | 0.70% | -1.05% | ||
| Equity: Global Ex-U.S. Large Cap – Blend | -1.28% | 1.34% | ||||
| Equity: Region – Asia-Pacific | 2.17% | 16.23% | 2.16% | 4.23% | ||
| Equity: Region – Asia-Pacific Emerging | -2.58% | -4.26% | 6.26% | |||
| Equity: Region – Eurozone | -2.53% | -3.77% | 2.63% | |||
| Equity: Region – Latin America | 4.44% | 4.81% | -4.27% | |||
| Equity: Sector – Communication Services | -1.42% | 4.49% | -1.99% | |||
| Equity: Sector – Consumer Discretionary | 1.58% | -5.59% | 7.54% | |||
| Equity: Sector – Consumer Staples | -7.16% | 0.03% | 0.65% | |||
| Equity: Sector – Energy | 0.25% | -1.00% | 1.58% | 3.60% | ||
| Equity: Sector – Financials | -3.06% | -3.38% | -1.89% | 1.58% | ||
| Equity: Sector – Health Care | 3.19% | 4.88% | 0.02% | -11.77% | ||
| Equity: Sector – Industrial | 0.06% | 0.12% | -6.80% | 7.46% | ||
| Equity: Sector – Information Technology | 6.80% | 8.78% | -8.79% | |||
| Equity: Sector – Materials | -7.53% | 4.30% | 8.00% | |||
| Equity: Sector – Real Estate | -8.30% | -12.34% | 5.39% | 12.84% | ||
| Equity: Sector – Utilities | -5.16% | -7.64% | -3.02% | |||
| Equity: Thematic – Disruptive Tech | 6.26% | 7.08% | -4.78% | -7.96% | ||
| Equity: Thematic – Evolving Consumer | -7.12% | 1.49% | ||||
| Equity: Thematic – FinTech | -0.62% | 0.15% | ||||
| Equity: Thematic – Industrial Revolution | 0.39% | |||||
| Equity: Thematic – Infrastructure | -10.20% | |||||
| Equity: Thematic – Midstream & MLPs | ||||||
| Equity: Thematic – Multi-Sector | -1.48% | 0.10% | ||||
| Equity: Thematic – Natural Resources | 13.35% | |||||
| Equity: Thematic – Precious Metals | -3.20% | 0.87% | -1.29% | 1.78% | ||
| Equity: U.S. Large Cap – Blend | -0.64% | 1.73% | 2.21% | -1.87% | -1.81% | |
| Equity: U.S. Large Cap – Growth | 3.76% | 5.65% | 2.07% | -5.55% | -5.80% | |
| Equity: U.S. Small Cap – Blend | -5.45% | -4.54% | 0.77% | 1.47% | 4.54% | |
| Fixed Income: Taxable – Government Intermediate | -1.35% | -2.12% | 1.36% | 2.21% | ||
| Fixed Income: Taxable – Government Long | 0.71% | -4.02% | 2.67% | 4.11% | ||
| Fixed Income: Taxable – High Yield | -0.16% | |||||
| Fixed Income: Taxable – Preferred Stock | -2.58% |
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing ETF this week was the QPUX (Defiance 2X Daily Long Pure Quantum ETF), which gained 18.59%. The week’s biggest laggards were the RETL (Direxion Daily Retail Bull 3x Shares), down 13.34%, and the DRN (Direxion Daily Real Estate Bull 3x Shares), which fell 12.34%.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| QPUX | Defiance 2X Daily Long Pure Quantum ETF | 18.59% |
| KORU | Direxion MSCI Daily South Korea Bull 3X Shares | 16.23% |
| URAA | Direxion Daily Uranium Industry Bull 2X Shares | 13.35% |
| DRV | Direxion Daily Real Estate Bear 3X Shares | 12.84% |
| USD | ProShares Ultra Semiconductors | 12.34% |
| Bottom Performers | ||
| RETL | Direxion Daily Retail Bull 3x Shares | -13.34% |
| DRN | Direxion Daily Real Estate Bull 3x Shares | -12.34% |
| SSG | Proshares Ultrashort Semiconductors | -11.94% |
| LABD | Direxion Daily S&P Biotech Bear 3X Shares | -11.77% |
| MSOX | AdvisorShares MSOS Daily Leveraged ETF | -11.03% |
Analyzing the Weekly Flows
The channel saw net inflows of $79M this week. The “Leverage | Inverse – Single Stock” category led the way, attracting $594M in new assets. This category, which now holds $30.6B in AUM, was followed by “Leverage | Inverse – Crypto,” which gathered $77M. On the negative side, the “Leverage | Inverse – Equity” category saw the largest outflows, shedding $444M.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Single Stock | 226 | $30,624M | $594M | $1,800M | $1,471M | $6,729M | $9,987M |
| Leverage | Inverse – Crypto | 18 | $7,847M | $77M | $1,182M | $2,684M | $3,717M | $4,896M |
| Leverage | Inverse – Fixed Income | 14 | $5,383M | ($60M) | ($282M) | ($1,128M) | ($1,078M) | ($1,040M) |
| Leverage | Inverse – Commodity | 18 | $3,575M | ($88M) | $100M | $259M | $593M | $359M |
| Leverage | Inverse – Equity | 190 | $117,770M | ($444M) | ($2,565M) | ($11,188M) | ($10,075M) | ($10,670M) |
Top & Bottom 5 ETFs by 5-Day Flow
At the individual fund level, UPRO (ProShares UltraPro S&P500) led all ETFs with $446M in new assets. The heaviest redemptions came from SOXL (Direxion Daily Semiconductor Bull 3x Shares), which lost $1.325B, and TQQQ (ProShares UltraPro QQQ), which saw $204M in outflows.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| UPRO | ProShares UltraPro S&P500 | $446M |
| SQQQ | ProShares UltraPro Short QQQ | $269M |
| SPXL | Direxion Daily S&P 500 Bull 3x Shares | $240M |
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | $151M |
| QLD | ProShares Ultra QQQ | $113M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | ($1,325M) |
| TQQQ | ProShares UltraPro QQQ | ($204M) |
| SH | ProShares Short S&P500 | ($71M) |
| TNA | Direxion Daily Small Cap Bull 3x Shares | ($54M) |
| SPXU | ProShares UltraPro Short S&P500 | ($50M) |
Issuer League Table Update
The issuer landscape remains concentrated, with ProShares (45.16% market share) and Direxion (34.43% market share) controlling the vast majority of assets. ProShares was also the top asset gatherer this week, pulling in $506M, while Direxion saw the largest outflows at $945M.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $74.65B | 45.16% |
| Direxion | 115 | $56.91B | 34.43% |
| GraniteShares | 38 | $9.69B | 5.86% |
| REX Microsectors | 19 | $7.88B | 4.76% |
| Volatility Shares | 6 | $5.25B | 3.18% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| ProShares | $506M |
| Defiance | $293M |
| GraniteShares | $155M |
| Outflows | |
| Direxion | ($945M) |
| Cambria | ($1M) |
| Azoria | ($1M) |
For a deeper dive into these trends, access our FREE, in-depth Thematic 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.
