The confounding situation of traders missing out on some of the best leveraged ETFs is not limited to oil funds. Falling oil prices have been a boon for retail stocks as highlighted by the Direxion Daily Retail Bull 3X Shares (NYSEArca: RETL). RETL, which hit an all-time high Friday, is up 33.1% in the past month, but investors have put no new money to work in the ETF in November. [Falling Oil Lifts Retail ETFs]

Given Russia’s status as one of the largest non-OPEC producers of oil, the Direxion Daily Russia Bear 3x Shares (NYSEArca: RUSS) has been a predictable beneficiary of crude’s swoon. RUSS is up 21.2% in the past month, but has lost $3.1 million in assets this month.

In proof that some traders are really getting it wrong with leveraged ETFs, RUSS’ bullish equivalent, the Direxion Daily Russia Bull 3x Shares (NYSE: RUSL), is off 27% over the past month while adding $19.4 million in new assets in November. So terrible has RUSL’s performance been that the ETF will be reverse split next month. [Reverse Splits Coming for These ETFs]

Direxion Daily Retail Bull 3X Shares