Weekly Channel Summary
The Leverage and Inverse ETF channel continues to show substantial market footprint, currently housing 590 active ETFs across 24 distinct issuing brands, amounting to an aggregated Total AUM of $191B. Over the past five days, the channel gathered a healthy $2.29B in net new money. Despite the strong weekly showing, longer-term flow metrics remain heavily in negative territory, with Year-To-Date flows at ($6.23B) and 1-Year flows sitting at a pronounced ($16.77B) in outflows.
This Week’s Performance Leaders and Laggards
Significant dispersion defined this week’s return profile, driven by acute volatility in tech, quantum themes, and digital assets. The Disruptive Tech underlying category notably led the pack with a Week-To-Date return of 5.06%, underscoring intense buying pressure in aggressive technology exposures. Conversely, Cryptocurrency strategies found themselves under pressure, as the Bitcoin category lagged with a -3.92% drop. The “action” was concentrated firmly on the edges of the risk spectrum rather than core equities.
On an individual fund level, the absolute standout was the QPUX (Defiance 2X Daily Long Pure Quantum ETF), which surged an eye-watering 65.47% over the five-day period. At the bottom of the pile, extreme pain was felt in alternative and specific sector inverse exposures. The TXXD (21Shares 2x Long Dogecoin ETF) shed -17.58%, closely followed by the JETD (MAX Airlines -3X Inverse Leveraged ETNs) which plummeted -17.04% as airline exposures shifted rapidly.
Top & Bottom 5 ETFs by Weekly Performance
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| QPUX | Defiance 2X Daily Long Pure Quantum ETF | 65.47% |
| TXXH | 21Shares 2x Long HYPE ETF | 50.40% |
| JETU | MAX Airlines 3X Leveraged ETNs | 17.17% |
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | 16.24% |
| NAIL | Direxion Daily Homebuilders & Supplies Bull 3X ETF | 15.53% |
| Bottom Performers | ||
| TXXD | 21Shares 2x Long Dogecoin ETF | -17.58% |
| JETD | MAX Airlines -3X Inverse Leveraged ETNs | -17.04% |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -16.63% |
| ETHT | ProShares Ultra Ether ETF | -14.57% |
| ETHU | 2x Ether ETF | -14.55% |
Analyzing the Weekly Flows
Channel-wide net flows posted a solid $2,224M positive gain on the week. The Single Stock category was the primary engine of these inflows, amassing $1,233M on a base of $41,442M in AUM. Broad Equity exposures were not far behind, attracting $964M. On the negative side of the ledger, Commodities suffered the sole categorical outflow, shedding ($74M) over the five-day period.
At the product level, the SOXL vacuumed up a massive $585M, indicating heavily levered bets on semiconductor strength. Taking the opposite side of tech sentiment, the SQQQ bled ($206M) and TECL saw ($88M) walk out the door, highlighting the rotational cross-currents active traders are navigating.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Single Stock | 320 | $41,442M | $1,233M | $3,176M | $3,454M | $6,441M | $11,156M |
| Leverage | Inverse – Equity | 193 | $136,748M | $964M | ($4,304M) | ($8,021M) | ($15,499M) | ($34,131M) |
| Leverage | Inverse – Fixed Income | 15 | $3,529M | $84M | $102M | $115M | ($880M) | ($2,190M) |
| Leverage | Inverse – Crypto | 24 | $3,798M | $16M | ($65M) | $504M | $1,083M | $4,717M |
| Leverage | Inverse – Commodity | 19 | $5,481M | ($74M) | $325M | $982M | $2,507M | $3,555M |
Top & Bottom 5 ETFs by 5-Day Flow
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | $585M |
| TQQQ | ProShares UltraPro QQQ | $490M |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | $82M |
| UPRO | ProShares UltraPro S&P500 | $79M |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X ETF | $55M |
| Outflows | ||
| SQQQ | ProShares UltraPro Short QQQ | ($206M) |
| TECL | Direxion Daily Technology Bull 3X ETF | ($88M) |
| ZSL | ProShares UltraShort Silver | ($77M) |
| KORU | Direxion Daily MSCI South Korea Bull 3X ETF | ($52M) |
| UGL | ProShares Ultra Gold | ($51M) |
Issuer League Table Update
ProShares and Direxion remain the undisputed titans of the space, commanding 43.49% and 36.27% of AUM market share, respectively. Direxion dominated the weekly flows board, vacuuming up $1,098M in new assets. Outflows at the issuer level were remarkably muted this week; Roundhill found itself at the bottom of the table, though only realizing a relatively small ($7M) in net withdrawals.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 110 | $83.12B | 43.49% |
| Direxion | 118 | $69.31B | 36.27% |
| GraniteShares | 39 | $10.65B | 5.57% |
| REX Microsectors | 19 | $8.52B | 4.46% |
| Tradr | 64 | $7.55B | 3.95% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Direxion | $1,098M |
| ProShares | $436M |
| GraniteShares | $395M |
| Outflows | |
| Roundhill | ($7M) |
| Volatility Shares | ($6M) |
| Cambria | ($2M) |
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.
