Top Performing Leveraged/Inverse ETFs: 11/26/2023

1. CONL – GraniteShares 1.5x Long Coinbase Daily ETF

CONL, which provides 1.5x leveraged exposure to the daily price movement for shares of Coinbase stock, topped the list of top performing levered ETFs with ~25% weekly increases as COIN gains the reputation for becoming a trusted partner for spot Bitcoin ETFs applications, also bolstered by BlackRock’s engagement.

2. 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 9% last week and featured second on the list of levered ETFs, as gold prices rose amid falling US dollar and expectations that the Fed had reached an interest rate peak.
3. KOLD – ProShares UltraShort Bloomberg Natural Gas

KOLD, which offers 2x daily inverse leveraged exposure to natural gas, was one of the candidates on the list of top performing levered/ inverse ETFs returning ~8.4% last week, as natural gas prices fell amid ample supply and mild weather conditions impacting the heating demand.

4. JNUG – Direxion Daily Junior Gold Miners Index Bull 2x Shares

JNUG seeks daily investment results of 200% of the performance of the MVIS Global Junior Gold Miners Index. The index tracks the performance of foreign and domestic companies engaging in gold and silver mining. JNUG was another precious metals candidate on the top-performing levered/ inverse ETFs list returning over 7% last week.

5. CURE – Direxion Daily Healthcare Bull 3x Shares

The CURE ETF offers 3x daily leveraged exposure to an index of healthcare stocks. The healthcare sector gained ~1.5% and was the best performing sector in the last five days.

6. DFEN – Direxion Daily Aerospace & Defense Bull 3X Shares

This ETF that aims to triple the daily return of an index of defense industry stocks was one of the top performing levered ETFs last week as defense stocks gained on the back of rising global geopolitical tensions. The overall aerospace & defense sector gained by more than 1.5% in the last five days.

7. NUGT – Direxion Daily Gold Miners Index Bull 2x Shares

Another gold ETF, NUGT seeks daily investment results of 200% of the performance of the NYSE Arca Gold Miners Index, ranked among the top levered ETFs. The ETF gained ~6% in the last week.

8. CWEB – Direxion Daily CSI China Internet Index Bull 2x Shares

The Direxion Daily CSI China Internet Index Bull 2x Shares seeks daily investment results of 200% of the performance of the CSI Overseas China Internet Index also made it on the list with over ~6% returns last week after Goldman Sachs upgraded the technology sector to overweight in their 2024 China equity outlook.

9. SVIX – -1x Short VIX Futures ETF

SVIX, which tracks an index that provides daily inverse exposure to a portfolio comprising first- and second-month VIX futures positions with a weighted average maturity of one month made it to the list with over 5% weekly gains. VIX, the CBOE Volatility index fell to ~12.70 from the ~14.3 mark, a week ago.

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) and was one of the best-performing levered ETFs with over 5% weekly gains as growth and beta stocks moved higher on expectations of a possible rate hike pause and lower Treasury yield.

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