Weekly Channel Summary
The single-stock ETF landscape continues its rapid expansion, now boasting 440 products across 18 distinct issuers and commanding a massive $32 billion in total Assets Under Management (AUM). While the long-term trend remains fiercely bullish with a staggering +$17.07B hauled in over the past year and +$3.10B year-to-date, this week told a different story. Traders pulled cash off the table, resulting in a net exodus of -$710M (-$0.71B) over the last five trading days. Volatility continues to be the ultimate catalyst in this high-octane channel.
This Week’s Performance Leaders and Laggards
It was a tale of two distinct sectors this week. Crypto miners and emerging AI infrastructure plays absolutely skyrocketed. Hut 8 Corp and Nebius Group blasted higher, rewarding bulls with gains north of 30%. On the flip side, the cloud and SaaS space was violently taken to the woodshed. High-multiple software darlings like Okta, Cloudflare, and Snowflake cratered by over 20%, leaving a trail of devastation for any levered long positions.
Top & Bottom Underlying Stock Performance (WTD)
| Ticker | Underlying Stock | Week-To-Date Return | Year-To-Date Return | # of Funds |
|---|---|---|---|---|
| Top 5 Underlying Stocks | ||||
| HUT | Hut 8 Corp. | +37.36% | +43.85% | 1 |
| NBIS | Nebius Group N.V. Class A | +33.22% | +73.19% | 4 |
| RIOT | Riot Platforms, Inc. | +29.08% | +31.02% | 2 |
| CIFR | Cipher Digital Inc. | +28.94% | +11.99% | 2 |
| ALAB | Astera Labs, Inc. | +27.24% | -10.41% | 1 |
| Bottom 5 Underlying Stocks | ||||
| OKTA | Okta, Inc. Class A | -21.52% | -27.22% | 1 |
| NET | Cloudflare Inc Class A | -21.12% | -15.30% | 1 |
| SNOW | Snowflake, Inc. | -20.24% | -44.79% | 2 |
| NOW | ServiceNow, Inc. | -18.63% | -45.82% | 1 |
| PATH | UiPath, Inc. Class A | -16.55% | -42.77% | 1 |
Weekly Performance: The Winners and Losers
The magnifying effect of leverage was on full display this week. HUTG dominated the tape, returning a mind-bending 82.80% in just five days, while a suite of Nebius Group bull funds capitalized on that stock’s momentum to print 74%+ gains. On the dark side of the trade, betting against strong momentum via NBIZ resulted in a brutal 46.95% haircut, proving yet again how rapidly inverse levered compounding can obliterate a portfolio.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top 5 Performing ETFs | ||
| HUTG | Leverage Shares 2X Long HUT Daily ETF | +82.80% |
| NEBX | Tradr 2X Long NBIS Daily ETF | +74.09% |
| NBIG | Leverage Shares 2X Long NBIS Daily ETF | +74.08% |
| NBIL | GraniteShares 2x Long NBIS Daily ETF | +74.05% |
| CIFU | T-REX 2X Long CIFR Daily Target ETF | +63.26% |
| Bottom 5 Performing ETFs | ||
| NBIZ | Tradr 2X Short NBIS Daily ETF | -46.95% |
| NETG | Leverage Shares 2X Long NET Daily ETF | -40.02% |
| OKTG | Leverage Shares 2X Long OKTA Daily ETF | -39.99% |
| CORD | T-REX 2X Inverse CRWV Daily Target ETF | -38.65% |
| SNOU | T-REX 2X Long SNOW Daily Target ETF | -38.23% |
Analyzing the Weekly Flows
The smart money aggressively rotated this week. The Levered product category experienced a massive wave of profit-taking (or stop-loss hitting), shedding an eye-watering $847M in just five days. Synthetic Income strategies also bled slightly, leaking $12M. Interestingly, inverse strategies caught a bid, drawing in $15M as bearish sentiment began to creep back into specific high-flying single stocks.
Where the Money Went This Week
| Category | Fund Count | AUM | 5 Day Flow | 30 Day Flow | 90 Day Flow | YTD Flow | 1 Year Flow |
|---|---|---|---|---|---|---|---|
| Inverse | 45 | $1,159.4M | +$15M | -$49M | -$255M | -$307M | +$1,160M |
| Currency Hedged | 9 | $20.8M | $0M | +$2M | +$2M | +$4M | +$3M |
| Synthetic Income | 101 | $7,203.6M | -$12M | +$288M | -$450M | -$562M | +$10,609M |
| Levered | 265 | $23,595.9M | -$847M | +$159M | +$4,619M | +$3,792M | +$5,127M |
Flow Leaders & Laggards: The ETF Tale of the Tape
Digging into the individual tickers, the divergence is clear. TSLL took the crown, vacuuming up $192M as Tesla bulls confidently piled in. On the other end of the spectrum, NVIDIA levered bulls ran for the exits. NVDL haemorrhaged $280M, signaling a sharp bout of profit-taking or sudden risk aversion in the undisputed king of AI. Micron plays (MUU, MULL) also took heavy shrapnel, shedding hundreds of millions collectively.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Top 5 Inflows | ||
| TSLL | Direxion Daily TSLA Bull 2X ETF | +$192M |
| MSFU | Direxion Daily MSFT Bull 2X ETF | +$44M |
| PTIR | GraniteShares 2x Long PLTR Daily ETF | +$43M |
| CRCA | ProShares Ultra CRCL | +$33M |
| PLTU | Direxion Daily PLTR Bull 2X ETF | +$24M |
| Bottom 5 Outflows | ||
| NVDL | GraniteShares 2x Long NVDA Daily ETF | -$280M |
| MUU | Direxion Daily MU Bull 2X ETF | -$115M |
| AMDL | GraniteShares 2x Long AMD Daily ETF | -$99M |
| MULL | GraniteShares 2x Long MU Daily ETF | -$74M |
| SNXX | Tradr 2X Long SNDK Daily ETF | -$71M |
Issuer League Table Update
Direxion maintains its iron grip on the top spot with almost a 30% market share and $9.59B in assets, further padding their lead by snagging $63M in fresh inflows this week. Meanwhile, GraniteShares took a massive hit, suffering an agonizing $510M in redemptions as investors slashed their exposure to its leveraged tech/semi products.
The Heavyweights: Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Direxion | 51 | $9.59B | 29.79% |
| GraniteShares | 58 | $7.10B | 22.06% |
| YieldMax | 41 | $5.85B | 18.17% |
| Tradr | 57 | $3.51B | 10.90% |
| T-Rex | 33 | $1.90B | 5.90% |
Weekly Flows: Issuer Edition
| Brand | 5-Day Flow |
|---|---|
| Top 3 Inflows | |
| Direxion | +$63M |
| ProShares | +$34M |
| REX Shares | +$2M |
| Bottom 3 Outflows | |
| GraniteShares | -$510M |
| Defiance | -$120M |
| Leverage Shares | -$84M |
For a deeper dive into these trends, access our FREE, in-depth Single Stock 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.
