Top Performing Leveraged/Inverse ETFs: 11/03/2024

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.

1. KOLD – ProShares UltraShort Bloomberg Natural Gas

KOLD, which offers 2x daily inverse leveraged exposure to natural gas, topped the list of top performing levered/ inverse ETFs returning ~26% last week, as natural gas prices struggled due to forecasts of mild weather across the U.S., high storage levels, and steady production levels.

2. TSLQ – AXS TSLA Bear Daily ETF

TSLQ provides inverse exposure to the daily price movement for shares of Tesla stock, ranked second on the list of inverse ETFs with nearly ~16.5% weekly returns. Tesla’s surprise Q3 profit gain, driven by improved margins, couldn’t offset bearish market sentiment. Meanwhile, BYD’s strong Q3 earnings and growing EV market share pose a significant challenge to Tesla’s dominance.

3. GDXD – MicroSectors Gold Miners -3X Inverse Leveraged ETNs

GDXD, which offers inverse leveraged exposure to Global Gold Miners, was among the top performing leveraged/ inverse ETFs returning ~12% last week. Gold prices dropped as a stronger US dollar and higher Treasury yields reduced investor demand for the precious metal.

4. SOXS – Direxion Daily Semiconductor Bear 3x Shares

The SOXS ETF inversely tracks the PHLX Semiconductor Index featured on the list of levered/ inverse ETFs with ~11% returns in the last week amid ASML’s pessimistic outlook and rising fears of stricter chip export controls.

5. AMZU – Direxion Daily AMZN Bull 1.5X Shares ETF

AMZU, which provides 1.5x leveraged exposure to the daily price movement for shares of Amazon stock, was one of the levered ETFs on last week’s list driven by Amazon’s strong third-quarter results.

6. DRV – Direxion Daily Real Estate Bear 3X Shares

The DRV ETF, which offers -3x daily leverage to an index of U.S. REITs, was one of the top-performing inverse ETFs, returning ~10% last week as despite the Fed’s rate cut, rising mortgage rates have dampened industry sentiment. Also, price growth is decelerating as inventories rise and demand weakens.

7. BZQ – ProShares Ultrashort MSCI Brazil Capped ETF

The BZQ ETF offers a good way to play the bearish short-term outlook for Brazilian large-cap stocks. This inverse ETF returned more than 8% in the last week. Government overspending has forced policymakers to hike interest rates, discouraging stock investments. Investors are now favoring government bonds, which offer higher returns with minimal risk.

8. JDST – Direxion Daily Junior Gold Miners Index Bear 2X Shares

Direxion Daily Junior Gold Miners Index Bear 2X Shares or JDST, which seeks daily investment results from 200% of the inverse of the performance of the MVIS Global Junior Gold Miners Index, was another top-performing inverse ETF, returning ~8.3% in the last week.

9. ETHT – ProShares Ultra Ether ETF

ETHT, which tracks 2x the daily price movements of an index that measures the price of Ether, was one of the ETFs on the list. Ether’s price increase is fueled by a potential Trump win.

10. DRIP – Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares

DRIP provides 2x inverse daily exposure to an index of the largest oil and gas exploration and production companies in the U.S. Oil prices fall on a stronger dollar on a projected Trump win.

For more news, information, and analysis, visit the Leveraged & Inverse Channel.