Weekly Channel Summary
The Leverage | Inverse channel currently manages $154.9 Billion across 535 ETFs issued by 24 Issuers. It was a challenging week for asset gathering, with the channel seeing net outflows of ($2.9 Billion). This extends the year-to-date trend to ($3.7 Billion) in outflows, although the channel remains positive over the trailing one-year period with $259 Million in net inflows.
This Week’s Performance Leaders and Laggards
Performance this week was defined by extreme volatility in niche corners of the market, creating massive dispersion between leveraged bull and bear strategies. Crypto and specific international exposures led the charge, while Commodities became a key battleground—particularly in Natural Gas and Silver. In the core equity space, risk-on sectors outperformed, with U.S. Small Cap (+4.6%) and Consumer Discretionary (+5.1%) posting strong gains. Conversely, defensive areas like Utilities (-1.6%) and Infrastructure (-0.2%) lagged significantly behind the broader market rally.
Top & Bottom 5 ETFs by Weekly Performance
The standout performer this week was the TXXS (21Shares 2x Long Sui ETF), surging over 57%. On the downside, volatility in commodities weighed heavily on the BOIL and ZSL, which both posted losses exceeding 23%.
| Top Performers | ||
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| TXXS | 21Shares 2x Long Sui ETF | 57.24% |
| KORU | Direxion MSCI Daily South Korea Bull 3X Shares | 38.45% |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X Shares | 34.27% |
| KOLD | ProShares UltraShort Bloomberg Natural Gas | 29.97% |
| AGQ | ProShares Ultra Silver | 24.56% |
| Bottom Performers | ||
| BOIL | ProShares Ultra Bloomberg Natural Gas | -25.81% |
| ZSL | ProShares UltraShort Silver | -23.64% |
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -21.83% |
| DUST | Direxion Daily Gold Miners Index Bear 2x Shares | -14.83% |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X Shares | -14.49% |
Analyzing the Weekly Flows
The channel shed a total of ($2.9 Billion) this week, driven primarily by heavy selling in the Equity category, which saw ($2.6 Billion) in outflows. Despite the broader selling, the Commodity category managed to attract $192 Million in new assets, bringing its total AUM to $5.6 Billion. Conversely, the Single Stock category also faced headwinds, recording outflows of ($356 Million).
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Commodity | 18 | $5,579M | $192M | $951M | $848M | $246M | $1,486M |
| Leverage | Inverse – Crypto | 21 | $5,472M | ($38M) | $25M | $1,918M | ($61M) | $4,349M |
| Leverage | Inverse – Fixed Income | 15 | $4,539M | ($122M) | ($248M) | ($618M) | ($126M) | ($1,702M) |
| Leverage | Inverse – Single Stock | 290 | $27,436M | ($356M) | ($181M) | $4,917M | ($911M) | $9,998M |
| Leverage | Inverse – Equity | 191 | $111,841M | ($2,557M) | ($4,207M) | ($6,021M) | ($2,878M) | ($13,871M) |
Top & Bottom 5 ETFs by 5-Day Flow
The SSO (ProShares Ultra S&P 500) attracted the most significant capital this week, gathering over $303 Million. On the other end of the spectrum, the SOXL (Direxion Daily Semiconductor Bull 3x Shares) and TQQQ (ProShares UltraPro QQQ) faced heavy selling pressure, seeing massive outflows of ($2.6 Billion) and ($225 Million) respectively.
| Inflows | ||
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| SSO | ProShares Ultra S&P 500 | $303M |
| BOIL | ProShares Ultra Bloomberg Natural Gas | $259M |
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | $251M |
| SQQQ | ProShares UltraPro Short QQQ | $154M |
| ZSL | ProShares UltraShort Silver | $58M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | ($2,614M) |
| TQQQ | ProShares UltraPro QQQ | ($225M) |
| TNA | Direxion Daily Small Cap Bull 3x Shares | ($143M) |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X Shares | ($120M) |
| AGQ | ProShares Ultra Silver | ($71M) |
Issuer League Table Update
ProShares and Direxion continue to maintain their stronghold on the market share leaders, sitting at #1 and #2 respectively. However, their flow fortunes diverged sharply this week: ProShares gathered the most weekly inflows ($376M), while Direxion saw the largest outflows ($2.6B), largely due to the semiconductor activity mentioned above.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $72.95B | 47.10% |
| Direxion | 120 | $52.64B | 33.99% |
| GraniteShares | 39 | $7.79B | 5.03% |
| REX Microsectors | 19 | $7.63B | 4.93% |
| Volatility Shares | 6 | $3.73B | 2.41% |
Top & Bottom 3 Issuers by 5-Day Flow
| Inflows | |
| Brand | 5-Day Flow |
|---|---|
| ProShares | $376M |
| Leverage Shares | $41M |
| REX Microsectors | $29M |
| Outflows | |
| Direxion | ($2,627M) |
| GraniteShares | ($432M) |
| Tradr | ($152M) |
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.
