Top Performing Leveraged/Inverse ETFs: 03/03/2024

1. CONL – GraniteShares 1.5x Long Coinbase Daily ETF

CONL ETF which provides 1.5x leveraged exposure to the daily price movement for shares of Coinbase stock topped the list with ~49% weekly returns as Bitcoin and Ethereum, the leading cryptocurrencies saw modest gains, staying in positive territory.

2. BITX – 2X Bitcoin Strategy ETF

BITX, seeks daily investment results, before fees and expenses, that corresponds to two times the excess return of the S&P CME Bitcoin Futures Daily Roll Index, ranked second on the leveraged ETFs’ list driven by inflows into new U.S. spot Bitcoin exchange-traded products.

3. LABU – Direxion Daily S&P Biotech Bull 3x Shares

The biotech fund, LABU gained ~21% and was one of the candidates on the top performing levered ETFs list last week as the sector is experiencing a resurgence fueled by mergers and acquisitions, a promising pipeline of new drugs, potentially lower interest rates, and increased access to capital.

4. CARU – MAX Auto Industry 3X Leveraged ETN

CARU is an ETN that tracks 3x of the daily price movements of an index consisting of auto industry companies listed in the U.S. The ETN got a boost with nearly 20% weekly returns on increased activity in the EV market with Li Auto’s launch and Tesla’s response to the competitive landscape.

5. SOXL – Direxion Daily Semiconductor Bull 3x Shares

SOXL, which offers 3x daily long leverage to the PHLX Semiconductor Index ranked fifth on the list of the top performing leveraged/ inverse ETFs last week. The overall semiconductor segment increased by over 7.3% after a strong earnings report from Nvidia, solidifying their dominance in the AI chip market. These solid results hint at a bright future for the entire semiconductor industry in the coming years.

6. EVAV – Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares

EVAV, which tracks 2x the daily price movements of an index of US-listed electric and autonomous vehicles companies was another contender on the list of top-performing levered ETFs as the global EV market is in overdrive.

7. BULZ – MicroSectors Solactive FANG & Innovation 3X Leveraged ETN

The BULZ ETF was one of the best-performing levered ETFs with around ~14% returns. The ETF focuses on top technology companies domiciled in the U.S. The technology sector gained by more than ~2.6% and was the third best-performing sector in the last five days fueled by AI hopes and a resurgent chip market.

8. BOIL – ProShares Ultra Bloomberg Natural Gas

BOIL, the natural gas ETF featured on the list of top-performing leveraged ETFs and gained more than ~13.5% in the last week. Natural gas prices rose on increasing demand as the weather begins to warm up.

9. USD – ProShares Ultra Semiconductors

USD which provides leveraged exposure to the U.S. Semiconductors stocks was another semiconductor ETF that featured on this week’s list with ~12% weekly gains as the semiconductor segment gained by ~7.3% in the last five days.

10. TARK – AXS 2X Innovation ETF

TARK is an actively-managed fund-of-fund that seeks to achieve 2x the return, for a single day, of the ARK Innovation ETF (ARKK) also featured on the list of best performing levered ETFs with ~11% weekly gains as growth stocks moved higher on growing demand for automation, innovation, and AI.

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