Top Performing Leveraged/Inverse ETFs: 03/31/2024

These were last week’s top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly. Always do your homework.

Ticker Name 1 Week Return
(BITX C+) 2x Bitcoin Strategy ETF 15.48%
(GDXU B-) MicroSectors Gold Miners 3X Leveraged ETN 15.27%
(NUGT B-) Direxion Daily Gold Miners Index Bull 2x Shares 11.02%
(JNUG B-) Direxion Daily Junior Gold Miners Index Bull 2x Shares 10.99%
(KOLD C+) ProShares UltraShort Bloomberg Natural Gas 10.07%
(UTSL A-) Direxion Daily Utilities Bull 3X Shares 8.58%
(MEXX C+) Direxion Daily MSCI Mexico Bull 3X Shares 7.06%
(WTIU ) MicroSectors Energy 3X Leveraged ETNs 5.89%
(UPW A) ProShares Ultra Utilities 5.78%
(NRGU B) MicroSectors U.S. Big Oil Index 3X Leveraged ETN 5.23%

 

1. BITX – 2X Bitcoin Strategy ETF

BITX, which seeks daily investment results, before fees and expenses, that correspond to two times the excess return of the S&P CME Bitcoin Futures Daily Roll Index, topped the leveraged ETFs’ list driven by price rally on ETF hype and Fed rate cut hopes.

2. GDXU – MicroSectors Gold Miners 3X Leveraged ETN

GDXU is a leveraged equity fund that provides 3x exposure to an index comprised of two of the largest gold miners’ ETFs, viz VanEck Gold Miners ETF (GDX) and VanEck Junior Gold Miners ETF (GDXJ), that invest in the global gold mining industry. GDXU returned over ~15% last week as investors eye gold ahead of US inflation data.

3. NUGT – Direxion Daily Gold Miners Index Bull 2x Shares

Another gold ETFNUGT seeks daily investment results of 200% of the performance of the NYSE Arca Gold Miners Index, ranked among the top levered ETFs. The ETF gained more than 11% in the last week.

4. JNUG – Direxion Daily Junior Gold Miners Index Bull 2x Shares

JNUG seeks daily investment results of 200% of the performance of the MVIS Global Junior Gold Miners Index. The index tracks the performance of foreign and domestic companies engaging in gold and silver mining. JNUG was another precious metals candidate on the top-performing levered/ inverse ETFs list returning almost ~11% last week as gold ascends with inflation data looming and Fed rate cut bets solidifying.

5. 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 ~10% last week, as natural gas prices struggle due to high production, full storage, and weak demand.

6. UTSL – Direxion Daily Utilities Bull 3X Shares

UTSL which provides daily 3x exposure to an index of utility companies in the U.S. was another candidate on the top performing levered/ inverse ETFs list as the utilities sector gained by more than 2% in the last five days as Fed rate cut bets firms.

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

The MEXX ETF made it on the list with over ~7% returns in the last week. The ETF benefited from an interest rate cut this week to combat higher prices.

8. WTIU – MicroSectors Energy 3X Leveraged ETNs

WTIU, an exchange-traded note that tracks 3x of the daily price movements of an index of US-listed energy and oil companies, was another top-performing leveraged ETF last week as the energy sector gained by over 3% and was the best-performing sector in the last five days. Oil surges on OPEC cuts, Russia attacks, and US rig count drop.

9. UPW – ProShares Ultra Utilities

This ETF offers 2x daily long leverage to the Dow Jones U.S. Utilities Index and made it to the list with ~5.7% weekly gains.

10. NRGU – MicroSectors U.S. Big Oil Index 3X Leveraged ETN

NRGU, which tracks three times the performance of an index of US oil and gas companies, was present on the weekly list of top-performing leveraged/ inverse ETFs returning ~5% as tight supplies push oil prices higher.

For more news, information, and analysis, visit the Leveraged & Inverse Channel.

Read more on ETFTrends.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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