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Exploring the Top Dogs in the World of Leveraged/Inverse ETFs for the Week Ending 03/31/2024

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In the world of leveraged and inverse ETFs, last week’s champions showcased a thrilling mix of returns. These financial instruments, characterized by their ability to move with lightning speed due to leverage, provide a rollercoaster ride for investors. A diligent approach to research is strongly advised before venturing into this realm.

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%

BITX – Bitcoin Buzz

The 2x Bitcoin Strategy ETF, known as BITX, took the lead among leveraged ETFs, spurred by a surge in prices attributed to a whirlwind of hype surrounding the cryptocurrency and high hopes for a Federal Reserve rate cut.

GDXU – Glittering Gold

GDXU, offering 3x exposure to a basket of top gold miner ETFs, shone bright with over 15% weekly returns as investors turned to the precious metal in anticipation of US inflation data.

NUGT – Golden Gains

The Direxion Daily Gold Miners Index Bull 2x Shares, or NUGT, notched over 11% gains in line with the rallying gold market, seeking to double the performance of the NYSE Arca Gold Miners Index.

JNUG – Junior Golden Returns

JNUG, which mirrors the performance of the MVIS Global Junior Gold Miners Index, strutted its stuff with a near 11% surge. The ETF targets companies, both foreign and domestic, engaged in the mining of precious metals.

KOLD – Cooling Off Natural Gas

KOLD, providing 2x daily inverse leverage on natural gas, chilled out the competition with approximately 10% returns. Plunging natural gas prices faced challenges stemming from robust production, brimming storage, and lackluster demand.

UTSL – A Utility Showcase

UTSL, amplifying daily exposure to US utility companies by a factor of 3, secured its place among the cream of the crop as the utility sector saw gains exceeding 2% driven by escalating bets on a Fed rate cut.

MEXX – Mexican Momentum

The MEXX ETF found itself in the limelight with returns surpassing 7% in response to a strategic interest rate cut aimed at curbing rising prices.

WTIU – Energized Performance

WTIU, capturing 3x daily movements in US energy and oil companies, surged ahead as the energy sector witnessed a robust 3% surge, emerging as the top-performing sector. This rally was fueled by OPEC production cuts, geopolitical tensions from Russia, and a decline in the US rig count.

UPW – Powering Up Utilities

The ProShares Ultra Utilities ETF, offering double daily long leverage on the Dow Jones U.S. Utilities Index, hustled its way into the top tier with gains standing at around 5.7% for the week.

NRGU – Big Oil Charm

NRGU, mirroring triple the performance of a US oil and gas company index, captured a 5% increase as tight supplies jolted oil prices upward.

For a deeper dive into news, insights, and analysis, dive into the Leveraged & Inverse Channel.

The thoughts and opinions articulated here represent the author’s perspective and do not necessarily align with those of Nasdaq, Inc.

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