Weekly Channel Summary
The Leverage | Inverse (Non-Traditional) ETF channel currently spans 557 products managed by 24 active issuers, representing a total Assets Under Management (AUM) of $180.19 billion. The channel experienced broad net redemptions this past week, posting a 5-Day flow of -$1.45 billion. This recent outflow exacerbates the longer-term structural trend of capital flight in these tactical instruments, pushing Year-to-Date (YTD) net flows to -$9.44 billion and the 1-Year flow deficit to -$21.52 billion.
This Week’s Performance Leaders and Laggards
Performance across the leveraged and inverse landscape exhibited stark dispersion, heavily influenced by volatility in the tech sector, cryptocurrency, and emerging markets. Underlying beta trackers for Equity: Thematic – Disruptive Tech led the pack with a WTD surge of +14.16%, followed closely by Information Technology (+8.46%) and Precious Metals (+8.14%). On the flip side, cyclical and energy-focused segments lagged significantly. Sector – Energy was the weakest broad category at -5.28%, followed by Commodity: Focused – Energy (-3.61%). The individual ETF action mirrored these category dynamics: highly leveraged long tech and Asian-Pacific exposure delivered explosive gains, while short-semiconductor and short-disruptive tech strategies absorbed punishing losses.
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing product this week was the KORU (Direxion Daily MSCI South Korea Bull 3X ETF), delivering an outsized +56.33% return. Conversely, inverse tech exposures cratered, with SOXS (Direxion Daily Semiconductor Bear 3X ETF) taking the hardest hit at -31.96%, followed closely by gold miner bears like GDXD (-25.90%).
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | +56.33% |
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | +36.25% |
| BULZ | MicroSectors Solactive FANG & Innovation 3X Leveraged ETN | +30.28% |
| CHNU | Volatility Shares 2x Chainlink ETF | +27.50% |
| TSXU | Direxion Daily Semiconductors Top 5 Bull 2X ETF | +26.62% |
| Bottom Performers | ||
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -31.96% |
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | -25.90% |
| BERZ | MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | -25.54% |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -22.97% |
| TECS | Direxion Daily Technology Bear 3X ETF | -22.60% |
Analyzing the Weekly Flows
In a risk-off rotation for tactical funds, the channel sustained -$1.45 billion in total net outflows. Despite this, the highly targeted Single Stock category bucked the trend, leading all segments with $147 million in net inflows across its $36.6B AUM base. Commodities also proved resilient, gathering $47 million. The bleeding was overwhelmingly concentrated in the broad Equity segment, which suffered a staggering -$1.59 billion in weekly redemptions, marking a continuation of heavy structural outflows in that category.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Single Stock | 311 | $36,609M | $147M | ($19M) | $1,618M | $3,972M | $7,618M |
| Leverage | Inverse – Commodity | 16 | $5,739M | $47M | $175M | $706M | $2,474M | $3,425M |
| Leverage | Inverse – Fixed Income | 15 | $3,560M | ($20M) | ($162M) | ($348M) | ($961M) | ($1,680M) |
| Leverage | Inverse – Crypto | 22 | $4,221M | ($37M) | $151M | $719M | $1,070M | $4,986M |
| Leverage | Inverse – Equity | 193 | $130,066M | ($1,590M) | ($11,607M) | ($10,278M) | ($15,994M) | ($35,868M) |
Top & Bottom 5 ETFs by 5-Day Flow
Despite heavy category outflows, tactical traders piled into the bear semiconductor trade, driving $636 million into SOXS, making it the highest flow generator by dollar amount. Conversely, the mass exodus was felt deeply in leveraged Nasdaq and Semiconductor bulls. TQQQ hemorrhaged -$1.41 billion over the 5-day period, and SOXL shed -$964 million.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | $636M |
| FAS | Direxion Daily Financial Bull 3X ETF | $246M |
| SSO | ProShares Ultra S&P 500 | $222M |
| UPRO | ProShares UltraPro S&P500 | $218M |
| SQQQ | ProShares UltraPro Short QQQ | $108M |
| Outflows | ||
| TQQQ | ProShares UltraPro QQQ | ($1,408M) |
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | ($964M) |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | ($177M) |
| SH | ProShares Short S&P500 | ($136M) |
| TECL | Direxion Daily Technology Bull 3X ETF | ($108M) |
Issuer League Table Update
The Leverage | Inverse space remains highly concentrated at the top. ProShares (44.56%) and Direxion (35.38%) control nearly 80% of total category assets. Despite their dominance in scale, both issuers were severely impacted by the broad equity outflows, with ProShares losing the most at -$1.17 billion over the 5-day period. Meanwhile, smaller agile issuers successfully captured new assets, with Tradr reeling in an impressive $306 million.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 110 | $80.54B | 44.56% |
| Direxion | 118 | $63.94B | 35.38% |
| GraniteShares | 39 | $9.49B | 5.25% |
| REX Microsectors | 19 | $8.47B | 4.68% |
| Tradr | 63 | $5.73B | 3.17% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Tradr | $306M |
| GraniteShares | $185M |
| Leverage Shares | $112M |
| Outflows | |
| ProShares | -$1,175M |
| Direxion | -$605M |
| Defiance | -$70M |
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.
