Weekly Channel Summary
The Leverage | Inverse ETF channel closed the week with $159 Billion in assets across 524 funds from 25 issuers. The channel experienced net outflows of ($1.50 Billion) for the week. Year-to-date, the space has gathered $1.99 Billion in net inflows, with a rolling 1-year total of $3.49 Billion.
This Week’s Performance Leaders and Laggards
Performance was mixed this week, with Equity: Thematic – Precious Metals leading the way with a return of 5.49%. On the downside, Commodity: Focused – Energy was the primary laggard, declining by -5.62%.
Category Return Profiles
The table below highlights the return profiles for funds tracking top categories, showing the dispersion between the best and worst performing ETFs in each space.
| Category | Underlying WTD Return | Min Return | Max Return |
|---|---|---|---|
| Equity: U.S. Large Cap – Blend | -0.54% | SDOW (-3.12%) | UDOW (3.00%) |
| Digital Asset: Cryptocurrency – Bitcoin | 0.71% | ETQ (-6.23%) | BTFX (7.05%) |
| Equity: U.S. Small Cap – Blend | 1.21% | SDD (-3.96%) | SAA (3.93%) |
| Equity: Thematic – Disruptive Tech | -2.13% | QPUX (-11.68%) | FNGD (8.70%) |
| Equity: Sector – Energy | -0.86% | GUSH (-7.38%) | DRIP (7.77%) |
| Equity: Sector – Information Technology | -2.00% | SOXL (-10.50%) | SOXS (9.18%) |
| Equity: Sector – Financials | 2.32% | BNKD (-8.82%) | DPST (10.83%) |
| Equity: U.S. Large Cap – Growth | -1.55% | QQUP (-6.32%) | QQDN (6.48%) |
| Commodity: Focused – Precious Metals | 2.77% | ZSL (-11.18%) | AGQ (9.58%) |
| Equity: Sector – Health Care | 0.47% | TBXU (-5.45%) | PILL (9.36%) |
| Equity: Sector – Industrial | 1.38% | JETD (-9.85%) | JETU (10.21%) |
Top & Bottom 5 ETFs by Weekly Performance
The top-performing fund this week was KOLD, which surged 52.81%. Conversely, the worst performers were BOIL and GDXD, which fell -38.06% and -17.99% respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| KOLD | ProShares UltraShort Bloomberg Natural Gas | 52.81% |
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | 17.83% |
| JNUG | Direxion Daily Junior Gold Miners Index Bull 2X Shares | 14.26% |
| NUGT | Direxion Daily Gold Miners Index Bull 2x Shares | 11.25% |
| DPST | Direxion Daily Regional Banks Bull 3X Shares | 10.83% |
| Bottom Performers | ||
| BOIL | ProShares Ultra Bloomberg Natural Gas | -38.06% |
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -17.99% |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X Shares | -13.72% |
| QPUX | Defiance 2X Daily Long Pure Quantum ETF | -11.68% |
| DUST | Direxion Daily Gold Miners Index Bear 2x Shares | -11.23% |
Analyzing the Weekly Flows
The channel saw a total net outflow of ($1.50 Billion) this week. The Leverage | Inverse – Commodity category led in inflows with $277 Million in new assets, followed by the Crypto category which added $213 Million. The Leverage | Inverse – Equity category experienced the largest outflows, shedding ($2.04 Billion).
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Commodity | 18 | $4,697M | $277M | $323M | $296M | $790M | $750M |
| Leverage | Inverse – Crypto | 19 | $5,934M | $213M | $378M | $2,792M | $4,369M | $4,551M |
| Leverage | Inverse – Single Stock | 275 | $28,722M | $55M | $1,718M | $5,261M | $10,058M | $11,215M |
| Leverage | Inverse – Fixed Income | 15 | $4,914M | ($10M) | ($147M) | ($828M) | ($1,265M) | ($1,104M) |
| Leverage | Inverse – Equity | 190 | $114,698M | ($2,035M) | ($2,474M) | ($6,330M) | ($11,972M) | ($11,928M) |
Top & Bottom 5 ETFs by 5-Day Flow
BOIL topped the leaderboard with $282 Million in net inflows. On the other hand, SOXL and TQQQ faced the heaviest selling, with outflows of ($1.02 Billion) and ($289 Million) respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| BOIL | ProShares Ultra Bloomberg Natural Gas | $282M |
| UGL | ProShares Ultra Gold | $102M |
| ETHU | 2x Ether ETF | $101M |
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | $72M |
| AGQ | ProShares Ultra Silver | $71M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | ($1,018M) |
| TQQQ | ProShares UltraPro QQQ | ($289M) |
| UPRO | ProShares UltraPro S&P500 | ($262M) |
| SQQQ | ProShares UltraPro Short QQQ | ($243M) |
| KOLD | ProShares UltraShort Bloomberg Natural Gas | ($228M) |
Issuer League Table Update
ProShares and Direxion continue to dominate the landscape, holding the top two spots for market share. In terms of weekly flows, Defiance gathered the most assets with steady inflows, while Direxion saw the largest outflows for the week.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $73.20B | 46.04% |
| Direxion | 120 | $55.11B | 34.67% |
| GraniteShares | 39 | $8.26B | 5.19% |
| REX Microsectors | 19 | $7.92B | 4.98% |
| Volatility Shares | 6 | $3.99B | 2.51% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Defiance | $308M |
| Volatility Shares | $187M |
| Leverage Shares | $28M |
| Outflows | |
| Direxion | ($1,198M) |
| ProShares | ($568M) |
| GraniteShares | ($246M) |
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.
