Weekly Channel Summary
The Leverage & Inverse ETF channel, comprising 449 ETFs from 25 issuers, currently holds a total of $160 billion in Assets Under Management (AUM). Over the past week, the channel experienced net outflows of -$53 million. This continues a recent trend, with year-to-date flows standing at -$995 million, though the channel has seen net inflows of $3.57 billion over the past year.
This Week’s Performance Leaders and Laggards
This week’s performance was dominated by digital assets, with the Digital Asset: Cryptocurrency – Bitcoin Levered 2x category leading all others with a strong 23.95% week-to-date return. On the other end of the spectrum, the Digital Asset: Cryptocurrency – Bitcoin Inverse 2x category was the primary laggard, posting a significant loss of -22.08% for the week.
Category Performance Snapshot
The table below breaks down the week-to-date performance of each category by its corresponding levered and inverse ETF implementations.
| Category | Levered: 2x | Levered: 3x | Levered: 4x | Inverse: 1x | Inverse: 2x | Inverse: 3x |
|---|---|---|---|---|---|---|
| Commodity: Focused – Agriculture | -1.57% | |||||
| Commodity: Focused – Energy | -2.14% | 2.06% | ||||
| Commodity: Focused – Industrial Metals | 14.04% | -5.62% | ||||
| Commodity: Focused – Precious Metals | 5.40% | 9.17% | -11.35% | -8.97% | ||
| Digital Asset: Cryptocurrency – Bitcoin | 23.95% | -2.70% | -22.08% | |||
| Equity: Emerging Large Cap | 5.71% | 8.63% | -5.40% | -7.99% | ||
| Equity: Global Ex-U.S. Large Cap – Blend | 5.22% | -2.47% | -4.95% | |||
| Equity: Region – Asia-Pacific | 3.20% | 19.55% | -2.57% | -5.14% | ||
| Equity: Region – Asia-Pacific Emerging | 5.28% | 4.31% | -5.69% | -7.65% | ||
| Equity: Region – Eurozone | 6.01% | 9.05% | 2.73% | |||
| Equity: Region – Latin America | -2.74% | -2.27% | ||||
| Equity: Sector – Communication Services | -3.13% | -0.32% | 1.76% | |||
| Equity: Sector – Consumer Discretionary | -1.72% | -0.70% | ||||
| Equity: Sector – Consumer Staples | 0.07% | 0.03% | ||||
| Equity: Sector – Energy | -6.72% | -5.05% | 7.06% | 5.35% | ||
| Equity: Sector – Financials | -0.60% | -4.35% | 0.35% | -12.13% | 4.62% | |
| Equity: Sector – Health Care | 13.30% | 16.98% | -15.34% | |||
| Equity: Sector – Industrial | 2.28% | 3.02% | -2.17% | -2.39% | ||
| Equity: Sector – Information Technology | 4.48% | 9.24% | -6.05% | -8.71% | ||
| Equity: Sector – Materials | 2.26% | -0.28% | -0.63% | |||
| Equity: Sector – Real Estate | 0.72% | 1.05% | -0.97% | |||
| Equity: Sector – Utilities | 4.76% | 7.17% | 0.18% | -2.60% | ||
| Equity: Thematic – Disruptive Tech | 0.63% | 2.94% | -3.15% | |||
| Equity: U.S. Large Cap – Blend | 2.13% | 4.09% | 3.93% | -1.02% | -1.97% | -3.86% |
| Equity: U.S. Large Cap – Growth | 4.99% | 3.31% | -1.02% | -1.81% | -3.18% | |
| Equity: U.S. Small Cap – Blend | 2.01% | 3.58% | -1.14% | -2.32% | -3.87% | |
| Fixed Income: Taxable – Government Intermediate | 0.87% | 1.27% | -0.34% | -0.75% | -1.16% | |
| Fixed Income: Taxable – Government Long | -0.33% | 2.45% | -0.70% | -1.45% | -2.36% | |
| Fixed Income: Taxable – High Yield | 0.12% | |||||
| Fixed Income: Taxable – Preferred Stock | 0.67% |
Top & Bottom 5 ETFs by Weekly Performance
The week’s best individual performer was the Advisor Shares MSOS Daily Leveraged ETF (MSOX), which surged an impressive 48.49%. In stark contrast, the T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) and the ProShares UltraShort Bitcoin ETF (SBIT) were the worst performers, plummeting -58.92% and -57.35% respectively, amid the cryptocurrency rally.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| MSOX | Advisor Shares MSOS Daily Leveraged ETF | 48.49% |
| SOLT | 2x Solana ETF | 31.89% |
| SLON | ProShares Ultra Solana ETF | 31.65% |
| BITX | 2x Bitcoin Strategy ETF | 26.32% |
| BTCL | T-Rex 2X Long Bitcoin Daily Target ETF | 26.16% |
| Bottom Performers | ||
| BTCZ | T-Rex 2X Inverse Bitcoin Daily Target ETF | -58.92% |
| SBIT | ProShares UltraShort Bitcoin ETF | -57.35% |
| LABD | Direxion Daily S&P Biotech Bear 3X Shares | -15.34% |
| NRGU | MicroSectors U.S. Big Oil 3 Leveraged ETN | -13.81% |
| SOXS | Direxion Daily Semiconductor Bear 3x Shares | -11.50% |
Analyzing the Weekly Flows
Despite an overall net outflow of -$53 million for the channel, investor interest remained highly concentrated. The Crypto category was the clear winner, attracting +$267 million in new assets and bringing its total AUM to over $10 billion. In contrast, the Equity category experienced the most significant withdrawals, with investors pulling -$104 million.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Crypto | 18 | $10,023M | $267M | $1,119M | $1,691M | $2,661M | $4,091M |
| Leverage | Inverse – Single Stock | 201 | $29,092M | ($60M) | ($1,325M) | ($1,909M) | $4,392M | $8,577M |
| Leverage | Inverse – Fixed Income | 14 | $5,518M | ($70M) | ($743M) | ($650M) | ($832M) | ($246M) |
| Leverage | Inverse – Commodity | 18 | $3,478M | ($86M) | $35M | $256M | $497M | $508M |
| Leverage | Inverse – Equity | 186 | $111,693M | ($104M) | ($4,063M) | ($11,635M) | ($7,714M) | ($9,394M) |
Top & Bottom 5 ETFs by 5-Day Flow
On an individual fund basis, the ProShares UltraPro Short QQQ (SQQQ) led all ETFs, pulling in $195 million in fresh capital. Conversely, significant outflows were seen from the Direxion Daily Semiconductor Bull 3x Shares (SOXL) and the ProShares UltraPro QQQ (TQQQ), which saw withdrawals of -$316 million and -$250 million, respectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| SQQQ | ProShares UltraPro Short QQQ | $195M |
| ETHU | 2x Ether ETF | $157M |
| SH | ProShares Short S&P500 | $133M |
| MQQQ | Tradr 2X Long Innovation 100 Monthly ETF | $104M |
| DPST | Direxion Daily Regional Banks Bull 3X Shares | $55M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3x Shares | ($316M) |
| TQQQ | ProShares UltraPro QQQ | ($250M) |
| TNA | Direxion Daily Small Cap Bull 3x Shares | ($122M) |
| BOIL | ProShares Ultra Bloomberg Natural Gas | ($113M) |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X Shares | ($67M) |
Issuer League Table Update
The issuer landscape remains dominated by ProShares and Direxion, which command 43.87% and 34.60% of the market share, respectively. This week, Tradr was the top asset gatherer, bringing in $230 million in new flows. Among the top issuers, Direxion saw the largest outflows, with a significant -$506 million withdrawn over the past five days.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 107 | $70.13B | 43.87% |
| Direxion | 111 | $55.31B | 34.60% |
| GraniteShares | 36 | $9.14B | 5.72% |
| REX Microsectors | 19 | $7.46B | 4.67% |
| Volatility Shares | 6 | $6.95B | 4.35% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| Tradr | $230M |
| Volatility Shares | $222M |
| ProShares | $120M |
| Outflows | |
| Direxion | ($506M) |
| GraniteShares | ($38M) |
| Roundhill | ($24M) |
For a deeper dive into these trends, access our FREE, in-depth Thematic ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
