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5 Best Inverse/Leveraged ETFs of Last Week

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The S&P 500, the Dow Jones and the Nasdaq Composite lost 0.4%, 0.4% and 1.1%, respectively, last week. The U.S. economy is witnessing a rise in the number of new Delta variant cases. This fear weighed on the broader market last week.

On a separate note, the U.S. GDP grew at a 6.5% annualized rate in the second quarter of 2021, per the Commerce Department’s first estimate (as mentioned in a CNBC article). However, the metric lagged the Dow Jones estimate of 8.4%.

Another disappointing economic data was observed with 400,000 people filing initial claims for unemployment benefits in the week ended Jul 24. This was above the Dow Jones estimate of 385,000, per a CNBC report. All these reports had a somber effect on Wall Street despite upbeat earnings.

Against this backdrop, below we highlight a few leveraged ETFs that were best performers last week.

ETFs in Focus    

Microsectors Gold Miners 3X ETN GDXU – Up 16.6%

Gold prices remained relatively steady last week on low rates and a downbeat stock market performance. Slight risk aversion took shape lately. Rising inflation levels are continuously being studied by market analysts. And investors should note that gold is viewed as a great hedge against inflation. As a result, GDXU which is linked to three times leveraged participation in the performance of the S-Network MicroSectors Gold Miners Index, gained last week.

Etfmg Prime 2X Daily Junior Silver Miners ETF SILX – Up 12.2%

It was the same situation with silver. On one hand, silver offers a safe-haven trade and benefits from a subdued greenback, on the other hand, silver acts as an industrial metal. With the U.S. economy reopening, this industrial metal is also gaining steam. As a result, SILX gained massively last week.

FTSE China Bear 3X Direxion YANG – Up 12.1%

China’s stocks are down lately as the country is increasing regulatory scrutiny on various sectors and businesses. Several tech stocks are getting bruised due to this move. Hence, inverse leveraged China ETF was up last week.

Dow Jones Internet Bear 3X Direxion WEBS – Up 11.6%

Internet stocks were beaten down last week as global investors were concerned about China’s widening crackdown on Internet companies.  Plus, some investors feared rising rate signals from the Fed which weighed on growth stocks like those from the technology space.

MSCI Mexico Bull 3X Direxion MEXX – Up 11.6%

Rising oil prices boosted Mexico stocks last week as the country is the net exporter of oil. Mexico's peso was one of the key currencies among Latin American units that gained last week, helped by higher oil prices and a weakening dollar.


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Direxion Daily FTSE China Bear 3X Shares (YANG): ETF Research Reports
 
Direxion Daily MSCI Mexico Bull 3X Shares (MEXX): ETF Research Reports
 
Direxion Daily Dow Jones Internet Bear 3X Shares (WEBS): ETF Research Reports
 
MicroSectors Gold Miners 3X Leveraged ETNs (GDXU): ETF Research Reports
 
ETFMG Prime 2x Daily Junior Silver Miners ETF (SILX): ETF Research Reports
 
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Zacks Investment Research