Market Overview
From Oct 26 to Oct 30, 2026, the Dow Jones Industrial Average fell 0.85%, the S&P 500 slipped 0.57%, and the Nasdaq Composite lost 2.00%.
ETF market breadth skewed defensive, with inverse and commodity-linked products generally firmer while growth-oriented vehicles lagged. Leveraged short exposures saw heavier interest amid a choppy backdrop.
Top 5 US ETF Gainers
ProShares UltraShort MSCI Brazil Capped (BZQ) jumped 54.31%. The vehicle seeks two times inverse exposure to large- and mid-cap Brazilian equities as represented by the MSCI Brazil Capped index. It climbed as Brazilian equities weakened over the week.
Defiance Daily Target 2x Long SOFI ETF (SOFX) gained 28.45%. The fund targets two times the daily return of fintech company SoFi Technologies. The ETF rallied as the shares advanced during the week.
SoFi Technologies fell intraday as options activity turned cautious following its recent earnings-related rally.
GraniteShares 2x Short COIN Daily ETF (CONI) surged 26.65%. This product amplifies, by two times, daily inverse moves in cryptocurrency exchange Coinbase. It advanced as Coinbase shares weakened during the week.
Defiance Daily Target 2X Long LLY ETF (LLYX) added 22.39%. The product magnifies, by two times, daily moves in pharmaceutical manufacturer Eli Lilly. It climbed as the company's shares advanced this week.
Defiance Daily Target 2X Short MSTR ETF (SMST) rose 21.57%. The vehicle seeks two times the daily inverse of bitcoin treasury company MicroStrategy. It gained as MicroStrategy shares fell over the week.
MicroStrategy declined as bitcoin-related metrics softened, weighing on sentiment toward the stock.
Top 5 US ETF Losers
GraniteShares 2X Long INTC Daily ETF (INTW) tumbled 52.74%. The fund targets two times the daily return of semiconductor manufacturer Intel. It slumped as Intel shares retreated during the week.
ProShares Ultra MSCI Brazil Capped (UBR) sank 45.93%. The product seeks two times the return of Brazilian large- and mid-cap equities under the MSCI Brazil Capped methodology. It fell as Brazil’s equity market weakened this week.
Direxion Daily MSCI Brazil Bull 2X Shares (BRZU) slid 45.55%. The ETF targets two times the daily performance of Brazilian equities. It declined as the market pulled back during the week.
iShares MSCI Brazil Small-Cap ETF (EWZS) dropped 37.04%. The fund focuses on Brazilian small-cap stocks. It fell as the small-cap segment softened over the week.
VanEck Brazil Small-Cap ETF (BRF) retreated 35.81%. The ETF concentrates on Brazil’s small-cap universe. It slipped as those shares weakened during the week.
Top 5 Equity Index ETFs
Direxion Daily FTSE China Bull 3X Shares (YINN) rose 7.21%. The ETF targets three times the daily performance of the FTSE China 50, and it advanced as the benchmark gained over the week.
ProShares UltraPro Short QQQ (SQQQ) added 5.42%. The fund seeks three times inverse exposure to the Nasdaq-100, and it climbed as the index weakened during the week.
ProShares Ultra FTSE China 50 (XPP) gained 4.82%. The vehicle provides two times the return of the FTSE China 50, and it rose as the China blue-chip benchmark advanced on the week.
Direxion Daily Small Cap Bull 3x Shares (TNA) increased 3.75%. The ETF aims for three times the daily move of the Russell 2000, and it advanced as small-cap equities firmed during the week.
ProShares UltraShort QQQ (QID) climbed 3.71%. The fund offers two times inverse exposure to the Nasdaq-100, and it gained as the benchmark slipped for the week.
Top 5 Commodity ETFs
ProShares UltraShort Silver (ZSL) advanced 18.22%. The fund provides two times inverse exposure to silver prices, and it rallied as the metal declined for the week.
Direxion Daily Gold Miners Index Bear 2X Shares (DUST) rose 6.99%. The product targets two times inverse daily exposure to the NYSE Arca Gold Miners Index, and it gained as gold miners softened this week.
ProShares UltraShort Gold (GLL) gained 5.92%. The ETF delivers two times inverse exposure to gold prices, and it climbed as bullion eased during the week.
VanEck Oil Services ETF (OIH) increased 3.58%. The fund invests in oilfield services and equipment companies, and the advance aligned with strength across the oil services group.
ProShares Ultra Energy (DIG) added 1.61%. The ETF seeks two times the return of U.S. energy equities, and it edged higher as the sector firmed.
Top 5 Industry ETFs
ProShares Ultra Materials (UYM) climbed 5.77%. The fund targets two times the return of U.S. materials equities, and it rose as the sector advanced.
iShares Biotechnology ETF (IBB) gained 4.75%. The ETF captures U.S. biotechnology companies, and it moved higher alongside the industry’s weekly strength.
Direxion Daily Real Estate Bull 3X Shares (DRN) advanced 3.90%. The product seeks three times the daily move of U.S. real estate equities, and it rose as the group firmed.
Direxion Daily Financial Bull 3X ETF (FAS) added 3.24%. The fund provides three times the daily return of U.S. financials, and it gained with the sector’s upswing.
Health Care Select Sector SPDR Fund (XLV) increased 3.10%. The ETF holds large-cap U.S. health care constituents, and it finished higher as the cohort strengthened during the week.
Top 5 Bond ETFs
Invesco Bloomberg Enhanced Fallen Angels ETF (IFLN) rose 0.87%. The fund invests in below-investment-grade bonds originally issued as investment grade, and it inched higher as credit markets held firm.
Invesco Senior Loan ETF (BKLN) gained 0.84%. The ETF owns floating-rate senior loans, and it advanced amid steady loan pricing during the week.
VanEck High Yield Muni ETF (HYD) added 0.83%. The fund focuses on below-investment-grade municipal bonds, and it gained as muni credit remained resilient.
iShares MBS ETF (MBB) increased 0.82%. The vehicle holds agency mortgage-backed securities, and it edged up as the segment posted a modest weekly advance.
Vanguard Mortgage-Backed Securities ETF (VMBS) rose 0.82%. The ETF holds agency mortgage-backed securities, and it matched the week’s firm tone in mortgages.
Conclusion
Defensive positioning set the tone across ETFs, with inverse equity and precious-metals products leading while several leveraged long vehicles lagged. Brazil-focused bulls were hit hard even as corresponding inverse strategies rallied, and commodity shorts outperformed amid weakness in silver and gold-related names. Single-stock leverage amplified moves in both directions, highlighted by steep losses in a long semiconductor product and gains for inverse exposure tied to bitcoin-sensitive shares. Cross-asset leadership favored commodities and select rate-sensitive corners of credit, while dispersion between leveraged longs and their inverse counterparts remained pronounced.
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