Weekly Channel Summary
The Single Stock ETF arena was a flurry of activity this week, with the channel commanding a hefty $37.7 billion in AUM across 268 funds from 16 issuers. While traders pulled back to the tune of $698 million in net outflows over the last five days, the bigger picture remains bright. Year-to-date, a staggering $16.76 billion has flooded into these targeted strategies, with the one-year total hitting an impressive $24.65 billion.
This Week’s Performance Leaders and Laggards
It was a wild ride for single-stock traders this week, and nowhere was that more evident than in the relationship between underlying stocks and their ETF counterparts. Big moves in names like IONQ and Oracle translated into supercharged gains for traders in the corresponding levered ETFs. On the flip side, as stocks like Boeing and Upstart faltered, their inverse ETFs delivered positive returns, showcasing how these tools can be used to play both sides of the market.
Top & Bottom 5 Underlying Stock Performance (WTD)
| Underlying Stock | Stock WTD | Levered ETF (WTD) | Inverse ETF (WTD) | Income ETF (WTD) |
|---|---|---|---|---|
| Top Performers | ||||
| IonQ, Inc. (IONQ) | +33.04% | +70.48% | -51.59% | N/A |
| Galaxy Digital Inc. (GLXY) | +26.44% | +56.31% | N/A | N/A |
| Rigetti Computing, Inc. (RGTI) | +26.42% | +55.61% | N/A | N/A |
| CoreWeave, Inc. (CRWV) | +25.67% | +53.04% | N/A | N/A |
| Oracle Corporation (ORCL) | +25.51% | +44.93% | N/A | N/A |
| Bottom Performers | ||||
| AST SpaceMobile, Inc. (ASTS) | -8.70% | -18.03% | N/A | N/A |
| Moderna, Inc. (MRNA) | -6.48% | N/A | N/A | -5.07% |
| Boeing Company (BA) | -5.95% | -11.91% | +6.29% | N/A |
| Upstart Holdings, Inc. (UPST) | -5.71% | -12.37% | N/A | N/A |
| DraftKings, Inc. (DKNG) | -5.54% | -11.20% | N/A | -4.32% |
Weekly Performance: The Winners and Losers
The undisputed champion of the week was the GraniteShares 2x Long IONQ Daily ETF (IONL), which delivered an eye-popping 70.48% return. It was a brutal week for the bears, however. The Defiance Daily Target 2x Short IONQ ETF (IONZ) cratered more than 51%, highlighting a key trait of these products: because they reset daily, their performance over longer periods won’t be a perfect inverse of their levered counterparts due to the effects of compounding. Meanwhile, the popular T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) also took a significant hit, dropping nearly 24% as TSLA shares rallied.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| IONL | GraniteShares 2x Long IONQ Daily ETF | 70.48% |
| IONX | Defiance Daily Target 2X Long IONQ ETF | 70.42% |
| GLXU | T-REX 2X Long GLXY Daily Target ETF | 56.31% |
| GLGG | Leverage Shares 2X Long GLXY Daily ETF | 56.30% |
| RGTU | Tradr 2X Long RGTI Daily ETF | 55.61% |
| Bottom Performers | ||
| IONZ | Defiance Daily Target 2x Short IONQ ETF | -51.59% |
| TSLZ | T-Rex 2X Inverse Tesla Daily Target ETF | -23.66% |
| TSDD | GraniteShares 2x Short TSLA Daily ETF | -23.63% |
| TSLQ | Tradr 2X Short TSLA Daily ETF | -23.60% |
| PLTZ | Defiance Daily Target 2x Short PLTR ETF | -21.36% |
Analyzing the Weekly Flows
Following the money trail this week reveals a risk-off sentiment. With a total of $698 million exiting the channel, investors were clearly taking profits. The only strategy to attract fresh capital was Inverse funds, which scooped up $102 million as traders placed their bets on a downturn. The biggest loser was the massive Levered category, which bled $679 million, while Synthetic Income strategies also saw $122 million head for the exits.
Where the Money Went This Week
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Inverse | 36 | $1.35B | $102M | ($91M) | $329M | $1.25B | $2.09B |
| Currency Hedged | 10 | $15.6M | $0M | ($11M) | $1M | $6M | $9M |
| Long | Short | 1 | $1.2M | $0M | $0M | $0M | $3M | $3M |
| Synthetic Income | 66 | $13.59B | ($122M) | $704M | $4.23B | $11.73B | $15.30B |
| Levered | 144 | $22.75B | ($679M) | $9M | ($2.14B) | $3.77B | $7.25B |
Flow Leaders & Laggards: The ETF Tale of the Tape
Investors hedging against a Tesla downturn flocked to the Tradr 2X Short TSLA Daily ETF (TSLQ), making it the week’s inflow champion with $65 million in new cash. But it was a different story for some of the space’s giants. The bullish Direxion Daily TSLA Bull 2X Shares (TSLL) saw a massive $317 million withdrawal, and the popular YieldMax MSTR Option Income Strategy ETF (MSTY) wasn’t far behind, with outflows totaling $165 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| TSLQ | Tradr 2X Short TSLA Daily ETF | $65M |
| ORCX | Defiance Daily Target 2X Long ORCL ETF | $57M |
| NVDY | YieldMax NVDA Option Income Strategy ETF | $43M |
| NVDU | Direxion Daily NVDA Bull 2X Shares | $40M |
| TSDD | GraniteShares 2x Short TSLA Daily ETF | $31M |
| Outflows | ||
| TSLL | Direxion Daily TSLA Bull 2X Shares | ($317M) |
| MSTY | YieldMax MSTR Option Income Strategy ETF | ($165M) |
| NVDL | GraniteShares 2x Long NVDA Daily ETF | ($146M) |
| ROBN | T-Rex 2X Long HOOD Daily Target ETF | ($71M) |
| CONY | YieldMax COIN Option Income Strategy ETF | ($49M) |
Issuer League Table Update
The battle for issuer supremacy continues, with heavyweights YieldMax (32.67%) and Direxion (25.96%) still controlling over half the market. While the titans watched assets flow out, the nimble Tradr had a great week, raking in $44 million in fresh capital. On the other end of the spectrum, Direxion felt the brunt of the week’s pullback, leading the laggards with $288 million in outflows.
The Heavyweights: Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| YieldMax | 34 | $12.35B | 32.67% |
| Direxion | 46 | $9.81B | 25.96% |
| GraniteShares | 39 | $8.17B | 21.63% |
| T-Rex | 22 | $2.62B | 6.95% |
| Defiance | 32 | $2.25B | 5.97% |
Weekly Flows: Issuer Edition
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Tradr | $44M |
| Roundhill | $28M |
| REX Shares | $3M |
| Outflows | |
| Direxion | ($288M) |
| YieldMax | ($200M) |
| GraniteShares | ($148M) |
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.
