Market Overview
On Wednesday Jul 22, the Dow Jones Industrial Average slipped 0.01%, the S&P 500 fell 0.14%, and the Nasdaq Composite declined 0.57%.
ETF market breadth was mixed, with leveraged equity products showing pronounced dispersion between long and inverse exposures. Commodity-focused funds were active as precious-metals strategies advanced.
Top 5 US ETF Gainers
Corgi SMCI 2x Daily ETF (SMCC) climbed 39.82%. The fund targets two times the daily return of server hardware company Super Micro Computer, and it advanced as the underlying shares rallied.
Super Micro Computer drew fresh attention as analysts raised price targets and reports highlighted strong new order trends.
Defiance Daily Target 2X Long SMCI ETF (SMCX) gained 39.38%. The ETF seeks two times the daily move of Super Micro Computer, tracking the stock's intraday advance.
Graniteshares 2x Long SMCI Daily ETF (SMCL) added 39.30%. This product amplifies, by two times, daily moves in Super Micro Computer and rallied on the same upward impulse.
Corgi COHR 2x Daily ETF (COHC) rose 30.96%. The product magnifies, by two times, daily moves in photonics and laser manufacturer Coherent Corp., and it increased as the shares advanced.
Corgi NBIS 2x Daily ETF (NBIC) advanced 28.48%. Designed to deliver two times the daily performance of AI cloud infrastructure provider Nebius Group, the ETF gained as the underlying firmed.
Top 5 US ETF Losers
Defiance Daily Target 2X Short SMCI ETF (SMCZ) declined 39.87%. The vehicle seeks two times the inverse of Super Micro Computer, and it fell as the underlying exposure firmed intraday.
Tradr 2X Long PATH Daily ETF (PATX) slid 22.52%. The fund targets two times the daily return of automation software company UiPath, and it retreated as the shares weakened.
Leverage Shares 2X Long TEL Daily ETF (TELG) dropped 18.40%. This product amplifies, by two times, daily moves in connectors and sensors manufacturer TE Connectivity and fell as the stock softened.
Defiance Daily Target 2X Long RCAT ETF (RCAX) declined 17.85%. Designed to deliver two times the daily performance of drone technology firm Red Cat Holdings, the ETF moved lower as the underlying pulled back.
Defiance Daily Target 2X Long POET ETF (POEL) fell 17.75%. The vehicle seeks two times the daily move of optical interposer developer POET Technologies, and it slipped as the shares eased.
Top 5 Equity Index ETFs
iShares MSCI Brazil ETF (EWZ) rose 2.81%. The fund holds large- and mid-cap Brazilian equities, and the gain mirrored the MSCI Brazil market's advance during the session.
Direxion Daily Small Cap Bear 3X Shares (TZA) added 2.80%. The ETF targets three times the inverse daily performance of the Russell 2000 and benefited as small-cap stocks softened.
ProShares UltraShort FTSE China 50 (FXP) increased 2.06%. The fund provides two times inverse exposure to large-cap Chinese equities represented by the FTSE China 50, and it rose as that market eased.
ProShares UltraShort Russell 2000 (TWM) gained 1.93%. The ETF seeks two times inverse exposure to the Russell 2000 and advanced as the small-cap benchmark declined.
Direxion Daily FTSE China Bear 3X Shares (YANG) climbed 1.63%. The vehicle targets three times the inverse daily move of the FTSE China 50 and firmed as China large caps weakened.
Top 5 Commodity ETFs
Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) jumped 7.05%. The fund targets two times the daily performance of gold mining equities and rallied with the group.
DB Gold Double Short Exchange Traded Notes (DZZ) rose 3.66%. The note provides two times inverse exposure to gold prices and increased as the metal softened.
VanEck Junior Gold Miners ETF (GDXJ) gained 3.57%. The fund concentrates on smaller-cap gold miners and participated in the day's sector strength.
VanEck Gold Miners ETF (GDX) advanced 3.36%. The ETF focuses on large gold miners and added alongside peer shares.
ProShares Ultra Silver (AGQ) climbed 3.19%. The fund seeks two times the daily move of silver prices and benefited from the metal's intraday firming.
Top 5 Industry ETFs
PROSHARES ULTRA MATERIALS (UYM) rose 2.52%. The fund targets two times the daily move of U.S. materials equities and rallied with the sector.
Utilities Select Sector SPDR Fund (XLU) gained 2.25%. The ETF holds large U.S. utilities companies and advanced in step with the industry.
Direxion Daily Energy Bull 2x Shares (ERX) added 2.21%. The vehicle seeks two times the daily performance of U.S. energy producers and moved higher as the group firmed.
VanEck Uranium and Nuclear ETF (NLR) increased 2.12%. The fund focuses on uranium and broader nuclear-related equities and climbed alongside constituents.
United States Natural Gas Fund LP (UNG) advanced 1.92%. The product tracks front-month U.S. natural gas futures and rose with contract prices.
Top 5 Bond ETFs
VanEck Preferred Securities ex Financials ETF (PFXF) edged up 0.51%. The fund holds U.S. preferred securities excluding financial issuers, and it firmed with the asset class.
SPDR Bloomberg Convertible Securities ETF (CWB) increased 0.30%. The ETF invests in U.S. convertible bonds benchmarked to the Bloomberg index, and it was modestly higher.
First Trust SSI Strategic Convertible Securities ETF (FCVT) rose 0.11%. The vehicle actively allocates across global convertible securities, and it inched higher.
First Trust Emerging Markets Local Currency Bond ETF (FEMB) added 0.09%. The fund focuses on emerging-markets local-currency sovereign and quasi-sovereign debt, and it ticked up.
VanEck IG Floating Rate ETF (FLTR) gained 0.04%. The ETF holds investment-grade U.S. floating-rate notes and was marginally firmer.
Conclusion
Single-stock leverage dominated activity, with SMCI-linked longs rallying as the corresponding inverse product slid sharply. Commodity funds featuring gold miners and silver advanced, contrasting with a gain in a double-short gold note. Index bear products tied to small caps and China climbed even as Brazil-focused exposure firmed. Sector-wise, leveraged materials and energy vehicles strengthened while utilities also gained. Bond products were modestly positive, led by preferreds and convertibles. Overall, dispersion between leveraged longs and their inverse counterparts was elevated across products covered above, reflecting a mixed risk tone.
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