ETHD, which tracks -2x the daily price movements of an index that measures the price of Ethereum ETF, topped the ETFs’ list with ~28% weekly gains. Bitcoin and Ether plunged to multi-month lows last week, reflecting a wider sell-off in riskier assets as concerns over high tech valuations and dwindling hopes for swift U.S. interest rate cuts spooked investors.
2. SBIT – ProShares UltraShort Bitcoin ETF
SBIT, which tracks -2x the daily price movements of an index that measures the price of Bitcoin, ranked second on the list with a weekly gain of ~23%. Fears over inflated tech stocks and reduced expectations for immediate U.S. interest rate cuts drove investors away from risk, causing Bitcoin to slide.
3. BERZ – MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN
The BERZ ETF provides daily -3x inverse exposure to an index of FANG and technology companies, also featured on the list of top-performing inverse ETFs with ~20% weekly returns. The technology sector fell as investors grappled with retail sales figures, inflation data, and the Federal Reserve’s policy path, fueled by ongoing concerns over high valuations, particularly in AI and tech stocks.
4. SOXS – Direxion Daily Semiconductor Bear 3x Shares
The SOXS ETF inversely tracks the PHLX Semiconductor Index featured on the list of levered/ inverse ETFs with ~19% returns in the last week. News that Meta is reportedly considering Google-designed chips over those from Nvidia, the largest semiconductor company, sent the semiconductor sector lower.
5. GGLL – Direxion Daily GOOGL Bull 2X Shares
GGLL provides 2x leveraged exposure to the daily price movement for shares of Google stock, featured on the list as Google stock rallied amid a potential chip contract shift at Meta, considering buying Google-designed chips.
UVIX, which offers daily 2x leveraged exposure to short-term VIX futures featured on the list of leveraged ETFs. Market volatility surged amid widespread investor concern that AI-fueled gains have pushed U.S. tech stock valuations to dangerously high levels, a fear amplified by ongoing uncertainty surrounding Federal Reserve rate cuts.
8. WEBS – Direxion Daily Dow Jones Internet Bear 3X Shares
The WEBS ETF that tracks companies having a strong internet focus was present on the top-performing levered/ inverse ETFs list last week, pulled down by persistent concerns over high AI and tech valuations. This selling pressure intensified as investors assessed new retail sales and inflation data, looking ahead to the Federal Reserve’s next decision.
9. SETH – ProShares Short Ether ETF
SETH is a fund designed to profit from a decline in Ether’s price, as it tracks the inverse of its underlying index’s daily price movements. This was another Ether-focused fund on the list with over 13% weekly gains.
10. UVXY – ProShares Ultra VIX Short-Term Futures ETF
UVXY, which offers leveraged exposure to an index of short-term VIX futures contracts, was another volatility-focused fund on the top-performing levered ETFs last week with ~12% gains.
