ETFs
Best Performing Leveraged/Inverse ETFs: 05/26/2024
These were the best performing leveraged and inverse ETFs of the past week. Note that due to leverage, these types of funds can move quickly. Always do your homework.
1. NVDU – Direxion Daily NVDA Bull 1.5X Shares
NVDU, which provides 1.5x leveraged exposure to the daily price movement of NVIDIA stock, tops the list of leveraged/inverse ETFs with returns of around 31% over the past week . Last week’s rally came after Elon Musk’s AI startup xAI stepped up its competition with OpenAI, boosting the chipmaker’s already impressive profit surge.
2. NVDL – GraniteShares 1.5x Long NVDA Daily ETF
NVDL, which provides 1.5x leveraged exposure to daily NVIDIA stock price action, ranked second on the list of leveraged/inverse ETFs with returns of 30.8%. last week.
3. CONL – GraniteShares Daily ETF 1.5x Long Coinbase
CONL, which provides 1.5x leveraged exposure to the daily price movement of Coinbase shares, has been one of the best-performing leveraged ETFs, with weekly gains of around 28.5%. . Coinbase could use a boost as progress is finally made in creating clear regulations for cryptocurrencies and digital assets.
4. YANG – Direxion Daily FTSE China carries shares 3X
YANG, which offers 3x daily short leverage on the FTSE China 50 Index, is on the list of leveraged/inverse ETFs. It returned almost 20% last week, as policy measures failed to restore investor confidence and property prices fell.
5. USD – ProShares Ultra Semiconductors
USD, which provides leveraged exposure to U.S. semiconductor stocks, made this week’s list with weekly gains of more than about 17%, with the semiconductor segment gaining about 11%. % in the last five days. The semiconductor sector continued its rise after Elon Musk announced plans to build a powerful supercomputer using AI chips with his AI company, xAI.
6. SOXL – Direxion Daily Semiconductor Bull 3x Stock
SOXL, which offers 3x daily long leverage on the PHLX Semiconductor Index, is also on the list, with returns of more than about 13% in the past week.
7. FXP – ProShares UltraShort FTSE China 50
FXP, which provides inverse exposure to large-cap Chinese stocks, was another China-focused ETF on the list and gained nearly 13% last week.
8. GDXD – MicroSectors Gold Miners – 3X Inverse Leveraged ETN
GDXD, which provides inverse leveraged exposure to Global Gold Miners, has been one of the best-performing leveraged/inverse ETFs, returning around 12.5% last week. Gold prices have fallen against a strong dollar and, as the Fed meeting minutes suggest, rate hikes are on the table.
9. DRV – Direxion Daily Real Estate Bear 3X Stock
The DRV ETF, which offers -3x daily leverage on a composite index of US REITs, has been one of the best-performing inverse ETFs, returning over ~11% last week. The overall real estate sector fell about 3.6% as higher long-term rates are expected to hurt the real estate market. This was the worst performing sector last week.
10. OILD – Oil and Gas MicroSectors Exp. & Prod. -3x Inverse Leveraged ETN
The OILD ETF, which provides exposure to the inverse performance of U.S. oil, gas and fuels, made the list of best inverse ETFs as the energy sector suffered a drop of more than 2% last week despite growing geopolitical tensions in the United States. Middle East and following uncertainties around interest rate policy.
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