Top Performing Leveraged/Inverse ETFs: 06/23/2024

1. MEXX – Direxion Daily MSCI Mexico Bull 3X Shares

Mexico’s stock market surged, propelling the MEXX ETF to top the list of leveraged ETFs with nearly 9.5% returns last week. Investor confidence soared on optimism for a European debt solution, a surge in America Movil stock, and a belief that recent fears of a global slowdown were overblown.

2. 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 ranked second on the ETFs’ list with ~9.4% weekly gains. Marijuana stocks climbed as investor interest surged despite ongoing federal prohibition in some places.

3. KOLD – ProShares UltraShort Bloomberg Natural Gas

KOLD, which offers 2x daily inverse leveraged exposure to natural gas, was one of the contenders on the list of top performing levered/ inverse ETFs returning ~8.8% last week, as natural gas prices dipped, due to higher production.

4. WANT – Direxion Daily Consumer Discretionary Bull 3X Shares

Consumer discretionary WANT ETF that provides 3x leveraged exposure to the U.S. consumer discretionary sector featured on the list of top performing levered funds last week as the consumer discretionary sector gained ~1.7%. Prices stayed flat in May compared to April according to Consumer Price Index.

5. 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 6% weekly returns supported by Electric vehicles and autonomous driving hopes and hopes of a September interest rate cut on softer-than-expected inflation reports.

6. FLYU – MicroSectors Travel 3x Leveraged ETN

FLYU tracks 3x of the daily price movements of an index of US-listed travel-related companies and was featured on the list of leveraged ETFs last week. Airline stocks took flight as inflation data revealed a dip in airfares, potentially boosting travel demand.

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

AMZU provides 1.5x leveraged exposure to the daily price movement for shares of Amazon stock. Weak economic activity and tepid retail sales data strengthen the expectation of the Federal Reserve reducing interest rates in the coming months. An initial rate cut is expected in September, followed by another in December.

8. DPST – Direxion Daily Regional Banks Bull 3X Shares

DPST which provides 3x leveraged exposure to an index of US regional banking stocks was one of the top-performing levered ETFs on news that the Fed might be considering less strict capital requirements for banks.

9. SSG – Proshares Ultrashort Semiconductors

SSG ETF which offers 2x daily short leverage to the Dow Jones U.S. Semiconductors Index was another top performing inverse ETF, gaining by nearly ~5% last week. The semiconductor segment registered a fall of more than 7% in the last five days on a sell-off rally after Nvidia’s stock dip.

10. 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 over ~5% returns in the last week. Shares of Tesla gained driven by Musk’s pay deal that calmed exit fears, China Model 3 price and Tesla’s new Optimus robots also fueled optimism.

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