Top Performing Levered/Inverse ETFs Last Week
These were last week’s top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly. Always do your homework.
|Ticker||Name||1 Week Return|
|(MSOX )||AdvisorShares MSOS 2x Daily ETF||38.63%|
|(JETD )||MAX Airlines -3X Inverse Leveraged ETNs||13.16%|
|(YANG )||Direxion Daily FTSE China Bear 3X Shares||12.89%|
|(TZA )||Direxion Daily Small Cap Bear 3X Shares||11.57%|
|(SRTY )||ProShares UltraPro Short Russell2000||11.53%|
|(SOXS )||Direxion Daily Semiconductor Bear 3x Shares||11.49%|
|(SMDD )||ProShares UltraPro Short MidCap400||11.49%|
|(ZSL )||ProShares UltraShort Silver||11.38%|
|(HIBS )||Direxion Daily S&P 500 High Beta Bear 3X Shares||10.39%|
|(LABD )||Direxion Daily S&P Biotech Bear 3x Shares||9.47%|
1. MSOX – AdvisorShares MSOS 2x Daily ETF
MSOX, which seeks to achieve 2x the total daily return of the AdvisorShares Pure US Cannabis ETF (MSOS) through swap agreements, topped the list of levered ETFs last week with a ~38% weekly returns, as stocks gained on increased hopes of legalization and reclassification as a lower-risk substance.
2. JETD – MAX Airlines -3X Inverse Leveraged ETNs
JETD, which tracks -3x the daily price movements of an index consisting of US-listed companies in the air transportation industry, ranked second on the list as airline stocks could suffer from rising costs in the wake of higher fuel prices.
3. YANG – Direxion Daily FTSE China Bear 3X Shares
YANG, which offers 3x daily short leverage to the FTSE China 50 Index, ranked third on the top performing levered/ inverse ETF returning over 12% last week, as Chinese equities declined driven by waning investor optimism, slowing economy, and a soft yuan.
4. TZA – Direxion Daily Small Cap Bear 3X Shares
The TZA, Direxion Daily Small Cap Bear 3X Shares, which provides inverse leverage to the US small-cap equity market (Russell2000 Index), also made it to the list, gaining over 11.5% last week. The Russell 2000 index has high weightage to sectors like industrials, healthcare, financial, technology, etc., which ended in the red last week.
5. SRTY – ProShares UltraPro Short Russell2000
ProShares UltraPro Short Russell2000, SRTY ETF, which offers 3x daily short leverage to the Russell 2000 Index, also made it to the list this week. Stocks fell on rising oil prices and uncertainty around big tech on China iPhone bans.
6. SOXS – Direxion Daily Semiconductor Bear 3x Shares
The SOXS ETF inversely tracks the performance of the PHLX Semiconductor Index, featured on the list of levered/ inverse ETFs with ~11.5% returns in the last week. The semiconductor sector fell by more than 4% in the last week and the overall technology sector was down by ~1.9% as China extended the iPhone use ban in the country and a fall in the jobless claims data, which fueled rate hike jitters.
7. SMDD – ProShares UltraPro Short MidCap400
SMDD ETF, which offers 3x daily short leverage to the S&P MidCap 400 Index, was another best performing inverse ETF, returning ~11.5% last week.
8. ZSL – ProShares UltraShort Silver
ProShares UltraShort Silver, ZSL offers -2x daily leverage to silver prices and was one of the best performing inverse ETFs last week as silver prices fell on a strong US dollar.
9. HIBS – Direxion Daily S&P 500 High Beta Bear 3X Shares
HIBS, which provides inverse exposure to the U.S. large-cap stocks, was present on the top performing levered/ inverse ETFs list this week. Inverse ETFs gained as stocks declined, driven by a fall in the jobless claims data, which led to rate hike jitters.
10. LABD – Direxion Daily S&P Biotech Bear 3x Shares
The biotech fund, LABD which offers inverse exposure to the US Biotechnology sector, declined by nearly 9.5% last week. The biotech sector registered a fall of ~1% amid rising rates prospects and as investors continued to shun risky assets.
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