Top Performing Leveraged/Inverse ETFs: 07/07/2024

1. TSLL – Direxion Daily TSLA Bull 1.5X Shares ETF

TSLL which provides 1.5x leveraged exposure to the daily price movement for shares of Tesla stock topped the list of top-performing levered ETFs with over ~58% returns in the last week. Tesla’s stock price surged fueled by stronger-than-expected delivery numbers for the second quarter and excitement for the company’s upcoming Robotaxi Day in August.

2. TSL – GraniteShares 1.25x Long Tesla Daily ETF

TSL which provides 1.25x leveraged exposure to the daily share price movement of Tesla stock was another Tesla-focused fund on the list of top-performing levered ETFs giving ~34% returns last week.

3. 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 electric vehicle sector is experiencing a boom, with Tesla leading the charge after strong second quarter delivery numbers and earlier-than-expected shift by the Fed towards policy easing cycle.

4. FNGU – MicroSectors FANG+™ Index 3X Leveraged ETN

FNGU featured on the list of top-performing levered ETFs with ~22% weekly returns. FNGU offers exposure to five core technology companies – Facebook, Amazon, Apple, Netflix, and Alphabet Inc., as well as five other technology growth stocks, including Alibaba, Baidu, NVIDIA, Tesla, and Twitter. Technology stocks boosted last week on accelerated Fed’s dovish pivot of initiating its interest rate cut program sooner than anticipated.

5. GDXU – MicroSectors Gold Miners 3X Leveraged ETN

GDXU is a leveraged equity fund that provides 3x exposure to an index comprised of two of the largest gold miners’ ETFs, viz VanEck Gold Miners ETF (GDX) and VanEck Junior Gold Miners ETF (GDXJ), that invest in the global gold mining industry. GDXU returned over ~20% last week amid Fed rate cut buzz and weakness in the US dollar rates.

6. KOLD – ProShares UltraShort Bloomberg Natural Gas

KOLD, which offers 2x daily inverse leveraged exposure to natural gas, was one of the contenders on the list of top performing levered/ inverse ETFs returning ~20% last week, as natural gas prices dipped, due to rising production and abundant stockpiles in storage despite forecasts for increased demand.

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

The BULZ ETF was one of the best-performing levered ETFs with around ~16% returns. The ETF focuses on top technology companies domiciled in the U.S. The technology sector gained by more than ~4% fueled by hopes of an earlier-than-expected Fed rate cut and AI-fueled gains.

8. AAPU – Direxion Daily AAPL Bull 2X Shares

AAPU which provides 2x leveraged exposure to the daily price movement for shares of Apple stock featured on the list with over ~15% weekly gains on news that the company might increase prices for its top-tier iPhones. This move could allow them to keep lower-end models more affordable, potentially attracting new customers and expanding their user base.

9. AAPB – GraniteShares 2x Long AAPL Daily ETF

AAPB which provides 2x leveraged exposure to the daily price movement for shares of Apple stock was another Apple-focused fund on the list with ~15% weekly gains.

10. FNGG – Direxion Daily Select Large Caps & FANGs Bull 2X Shares

Another tech-focused ETF, FNGG which provides 2x the daily price movements of an equal-weighted index consisting of FANG and other growth and technology stocks, was present with ~14.5% weekly returns.

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