Weekly Channel Summary
The single-stock ETF space continues to be a battleground for extreme tactical positioning. Across 15 issuers and 440 individual products, the channel now commands a staggering $44.88B in assets under management. Traders piled +$273M in net new money into the ecosystem over the last five days, pushing year-to-date inflows to a massive $3.68B. This isn’t buy-and-hold territory—it’s a high-octane arena where sentiment shifts at the speed of light, and this week was defined by a massive rotation into memory chips and crypto miners, while former darlings like Tesla and Nvidia suffered brutal exoduses.
This Week’s Performance Leaders and Laggards
The underlying equity narratives completely diverged this week. Memory and storage names went ballistic, with Micron (MU) skyrocketing nearly 38% and Sandisk (SNDK) surging over 31%. Crypto mining also caught a massive bid, lifting IREN by 34%. On the flip side, network and cloud infrastructure hit the deck, with Applied Optoelectronics (AAOI) cratering nearly 19% and Arista Networks (ANET) bleeding out almost 18%. E-commerce giants Shopify (SHOP) and MercadoLibre (MELI) also found themselves on the wrong side of trader sentiment.
Top & Bottom Underlying Stock Performance (WTD)
| Ticker | Underlying Stock | Week-To-Date Return | Year-To-Date Return | Number of Funds Following Stock |
|---|---|---|---|---|
| Top Performing Underlying Stocks | ||||
| MU | Micron Technology, Inc. | 37.73% | 161.78% | 4 |
| IREN | IREN Limited | 34.03% | 62.03% | 4 |
| RKLB | Rocket Lab Corporation | 33.83% | 51.19% | 2 |
| SNDK | Sandisk Corporation | 31.62% | 558.16% | 2 |
| SMCI | Super Micro Computer, Inc. | 30.56% | 20.84% | 5 |
| Bottom Performing Underlying Stocks | ||||
| AAOI | Applied Optoelectronics, Inc. | -18.84% | 327.25% | 1 |
| ANET | Arista Networks, Inc. | -17.91% | 8.20% | 1 |
| SHOP | Shopify, Inc. Class A | -13.52% | -31.41% | 1 |
| ONDS | Ondas Inc. | -12.21% | -7.17% | 3 |
| MELI | MercadoLibre, Inc. | -11.76% | -18.95% | 1 |
Weekly Performance: The Winners and Losers
Leverage does what leverage does best—amplifies the mayhem. Thanks to Micron’s blistering rally, levered bulls like MUU and MULL absolutely crushed it, handing out gains north of 82% in just five days. Crypto miner levers IREG and IREX followed closely behind, surging over 72%. It was a bloodbath on the inverse and short side, however. The Defiance 2x Short Rocket Lab ETF (RKLZ) was obliterated, shedding almost 70% of its value in a single week due to compounding daily resets.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performing ETFs | ||
| MUU | Direxion Daily MU Bull 2X ETF | 83.06% |
| MULL | GraniteShares 2x Long MU Daily ETF | 82.70% |
| IREG | Leverage Shares 2X Long IREN Daily ETF | 72.81% |
| IREX | Tradr 2X Long IREN Daily ETF | 72.65% |
| IRE | Defiance Daily Target 2X Long IREN ETF | 72.14% |
| Bottom Performing ETFs | ||
| RKLZ | Defiance Daily Target 2x Short RKLB ETF | -69.59% |
| SMCZ | Defiance Daily Target 2X Short SMCI ETF | -54.82% |
| IREZ | Tradr 2X Short IREN Daily ETF | -51.28% |
| DAMD | Defiance Daily Target 2X Short AMD ETF | -47.76% |
| APLZ | Tradr 2X Short APLD Daily ETF | -40.80% |
Analyzing the Weekly Flows
Traders are playing defensive and aggressive at the exact same time. The Synthetic Income category won the week, hauling in +$127M as investors reached for yield via covered call strategies. Meanwhile, the Inverse category scooped up +$107M, pointing to a healthy contingent of bears betting against market darlings. Levered funds still managed to capture +$40M, though this masks a wild underlying churn as money rapidly rotated between specific stock names.
Where the Money Went This Week
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Synthetic Income | 103 | $8,182.8M | +$127M | +$248M | +$189M | -$327M | +$9,682M |
| Inverse | 46 | $1,076.9M | +$107M | +$377M | +$332M | +$82M | +$986M |
| Levered | 266 | $35,597.4M | +$40M | -$389M | +$1,315M | +$3,926M | +$6,731M |
| Currency Hedged | 9 | $21.3M | -$1M | -$1M | +$2M | +$3M | +$7M |
Flow Leaders & Laggards: The ETF Tale of the Tape
Flows tell the story of a massive rotation out of legacy big tech and into secondary plays. The GraniteShares 2x Long INTC Daily ETF (INTW) vacuumed up a jaw-dropping $211M as traders bet on an Intel turnaround. Meta (METU) and Palantir (PLTU) bulls also showed up in force. Contrast that with the absolute bloodletting in Tesla and Nvidia: Direxion’s daily TSLA bull fund (TSLL) hemorrhaged a staggering -$322M in just five days, while the 2x Long NVDA fund (NVDL) watched -$119M walk out the door.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Top 5 Inflows | ||
| INTW | GraniteShares 2x Long INTC Daily ETF | +$211M |
| METU | Direxion Daily META Bull 2X ETF | +$114M |
| PLTU | Direxion Daily PLTR Bull 2X ETF | +$113M |
| LITX | Tradr 2X Long LITE Daily ETF | +$110M |
| QCML | GraniteShares 2x Long QCOM Daily ETF | +$77M |
| Bottom 5 Outflows | ||
| TSLL | Direxion Daily TSLA Bull 2X ETF | -$322M |
| NVDL | GraniteShares 2x Long NVDA Daily ETF | -$119M |
| AMDL | GraniteShares 2x Long AMD Daily ETF | -$81M |
| AMZU | Direxion Daily AMZN Bull 2X ETF | -$69M |
| MVLL | GraniteShares 2x Long MRVL Daily ETF | -$65M |
Issuer League Table Update
Direxion maintains its crown as the market share heavyweight, sitting on over $13.7B in assets (30.2% share). However, the real story is in the flows. Tradr, GraniteShares, and YieldMax absolutely dominated this week’s money grab, collectively pulling in over $600M. Direxion, weighed down by its exposure to the TSLA bloodbath, took it on the chin and shed -$224M.
The Heavyweights: Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| Direxion | 51 | $13.71B | 30.21% |
| GraniteShares | 63 | $9.78B | 21.53% |
| YieldMax | 41 | $6.64B | 14.63% |
| Tradr | 57 | $5.43B | 11.96% |
| Defiance | 55 | $3.66B | 8.07% |
Weekly Flows: Issuer Edition
| Brand | 5-Day Flow |
|---|---|
| Top 3 Inflows | |
| Tradr | +$312M |
| GraniteShares | +$179M |
| YieldMax | +$116M |
| Bottom 3 Outflows | |
| Direxion | -$224M |
| Defiance | -$75M |
| Simplify | -$1M |
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.
