Top Performing Leveraged/Inverse ETFs: 05/05/2024

1. LABU – Direxion Daily S&P Biotech Bull 3x Shares

The biotech fund, LABU gained ~24% and was the top performing levered ETF on the list last week as the sector gained by ~3.5%. Last week’s plunge in U.S. Treasury yields fueled a rally in growth stocks, particularly those in the biotech sector. New drug launches, combined with the prospect of low interest rates and easier access to capital, could provide continued support for this area in the future.

2. 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 earnings report. Additionally, collaborations between automakers and Chinese tech companies are accelerating innovation in AI and EV technology.

3. AAPB – GraniteShares 2x Long AAPL Daily ETF

AAPB provides 2x leveraged exposure to the daily price movement for shares of Apple stock was one of the candidates on the list as the Apple stock surged on upbeat second-quarter fiscal 2024 earnings results.

4. AAPU – Direxion Daily AAPL Bull 2X Shares

AAPU which provides 2x leveraged exposure to the daily price movement for shares of Apple stock also featured on the list with over ~16% weekly gains.

5. YINN – Direxion Daily FTSE China Bull 3X Shares

YINN seeks daily investment results of 300% of the performance of the FTSE China 50 Index featured on the list, returning 16.5% in the last week. A confluence of factors is driving a surge in Chinese stocks: attractive valuations, market consolidation, massive stock buybacks, and the ripple effects of the AI boom across various sectors.

6. BABX – GraniteShares 1.75x Long BABA Daily ETF

BABX which provides 1.75x leveraged exposure to the daily price movement for shares of Alibaba Group Holding Limited stock was one of the leveraged ETFs’ making to the list with over ~15% weekly gains. The stock gained following the broad Chinese market rally last week.

7. 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 was on the list of top-performing levered ETFs as Cannabis stocks skyrocketed last week following the U.S. Department of Justice’s decision to reclassify marijuana as a Schedule III drug, a less dangerous designation, which could unlock significant gains for cannabis companies.

8. 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 featured on the list of top-performing levered ETFs with ~13% returns in the last week. Shares of Tesla led the EV rally after a strong earnings report.

9. CARU – MAX Auto Industry 3X Leveraged ETN

CARU is an ETN that tracks 3x of the daily price movements of an index consisting of auto industry companies listed in the U.S. The ETN got a boost with over 13% weekly returns as Electric vehicle stocks are on a tear, with Tesla leading the charge after its earnings report.

10. 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 ~12.5% returns last week after several automakers struck deals with Chinese tech companies for smart car innovation to tap into China’s AI expertise.

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