Weekly Channel Summary
The Leveraged & Inverse (Non-Traditional) ETF channel currently holds $164.1 billion in total Assets Under Management (AUM) across 572 ETFs from 24 distinct issuers. Over the past five days, the channel experienced net inflows of +$0.82B. Despite this positive weekly momentum, longer-term flows remain heavily in the red, with Year-To-Date (YTD) flows sitting at -$6.68B and 1-Year flows at -$19.18B.
This Week’s Performance Leaders and Laggards
This week showcased sharp performance divergence across the channel, highlighting the extreme volatility inherent in leveraged and inverse strategies. The underlying action favored volatile sectors, with Commodity: Focused – Energy and Equity: Thematic – Disruptive Tech leading the pack, returning +6.33% and +4.85%, respectively. Conversely, core equities remained relatively muted, and the heaviest damage was concentrated in precious metals. Equity: Thematic – Precious Metals plunged -7.56% while Commodity: Focused – Precious Metals dropped -1.63%.
Top & Bottom 5 ETFs by Weekly Performance
The single best-performing product this week was the GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs), which skyrocketed +23.63%. On the opposite end of the spectrum, the two worst-performing ETFs reflected the brutal pain on the long side of the same trade: the GDXU (MicroSectors Gold Miners 3X Leveraged ETN) and the NUGT (Direxion Daily Gold Miners Index Bull 2X ETF), which collapsed by -22.01% and -15.17%, respectively.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | +23.63% |
| TXXD | 21Shares 2x Long Dogecoin ETF | +22.31% |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | +16.25% |
| NRGU | MicroSectors U.S. Big Oil 3 Leveraged ETN | +14.38% |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | +14.16% |
| Bottom Performers | ||
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | -22.01% |
| NUGT | Direxion Daily Gold Miners Index Bull 2X ETF | -15.17% |
| STLU | Volatility Shares 2x Stellar ETF | -14.40% |
| NRGD | MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN | -14.14% |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X ETF | -13.82% |
Analyzing the Weekly Flows
Over the last 5 days, the Non-Traditional channel absorbed +$660M in net inflows. This growth was entirely dominated by the Leverage | Inverse – Single Stock category, which drew an astounding +$2,209M despite accounting for just $31.2B in AUM. Commodity strategies also saw significant positive interest with +$183M. These massive single-stock injections were significantly offset by the Leverage | Inverse – Equity category, which served as the largest detractor, bleeding -$1,729M over the same 5-day span.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Single Stock | 311 | $31,232M | +$2,209M | +$522M | +$4,444M | +$4,954M | +$7,937M |
| Leverage | Inverse – Commodity | 16 | $5,596M | +$183M | +$144M | +$310M | +$2,428M | +$3,411M |
| Leverage | Inverse – Fixed Income | 15 | $3,560M | +$56M | -$182M | -$536M | -$941M | -$1,713M |
| Leverage | Inverse – Crypto | 24 | $3,929M | -$60M | +$194M | +$940M | +$1,108M | +$5,005M |
| Leverage | Inverse – Equity | 193 | $119,829M | -$1,729M | -$12,546M | -$6,764M | -$14,404M | -$33,997M |
Top & Bottom 5 ETFs by 5-Day Flow
At the product level, the top ETF for fresh capital was the SOXS, which raked in +$262M. The pain on the outflow side was heavily concentrated; the top two ETFs for capital destruction were the TQQQ and KORU, hemorrhaging -$1,178M and -$280M, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | +$262M |
| SCO | ProShares UltraShort Bloomberg Crude Oil | +$250M |
| SQQQ | ProShares UltraPro Short QQQ | +$77M |
| LABU | Direxion Daily S&P Biotech Bull 3X ETF | +$70M |
| PSQ | ProShares Short QQQ | +$54M |
| Outflows | ||
| TQQQ | ProShares UltraPro QQQ | -$1,178M |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | -$280M |
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | -$238M |
| FAS | Direxion Daily Financial Bull 3X ETF | -$232M |
| TECL | Direxion Daily Technology Bull 3X ETF | -$111M |
Issuer League Table Update
The channel remains heavily centralized at the top, with ProShares (45.90%) and Direxion (35.35%) dominating aggregate market share. However, recent momentum has favored alternative issuers tapping into the single-stock craze. GraniteShares gathered the most weekly inflows by a wide margin, adding +$1,317M. Meanwhile, the heavyweight leader ProShares suffered the largest outflows, seeing -$1,021M leave its strategies.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 110 | $75.44B | 45.90% |
| Direxion | 118 | $58.10B | 35.35% |
| GraniteShares | 39 | $8.05B | 4.90% |
| REX Microsectors | 19 | $7.36B | 4.48% |
| Tradr | 63 | $4.66B | 2.84% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| GraniteShares | +$1,317M |
| Tradr | +$280M |
| Defiance | +$215M |
| Outflows | |
| ProShares | -$1,021M |
| Direxion | -$136M |
| Volatility Shares | -$54M |
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.
