Market Overview
U.S. equities extended recent strength, with the Nasdaq Composite adding 0.90%, the S&P 500 gaining 0.69%, and the Dow Jones Industrial Average improving 0.47% in a broadly constructive session. Across the U.S. ETF complex, performance signaled a risk-on tilt: leveraged technology and emerging market equity products advanced, precious metals strategies—particularly silver—were standouts, while energy-oriented funds and inverse equity vehicles generally lagged; long-duration Treasuries eased modestly.
Top 5 US ETF Gainers
Tradr 2X Long CELH Daily ETF (CELT) climbed 18.84%. This single-stock ETF is designed to deliver twice the daily return of following the energy-drink maker Celsius Holdings, so its move reflects the underlying equity’s performance magnified by the fund’s 2x structure. Such products translate company-specific share swings into amplified daily outcomes, resulting in heightened volatility relative to the base stock.
Tradr 2X Short NBIS Daily ETF (NBIZ) advanced 17.54%. As a double inverse single-stock vehicle, it seeks -2x the daily performance of AI cloud firm Nebius, meaning it typically benefits when the reference stock weakens on a given day. The fund’s construction emphasizes daily inverse exposure, not long-term compounding, making intraday and session moves in the underlying the primary driver.
T-REX 2X INVERSE CRWV DAILY TARGET ETF (CORD) rose 17.34%. The strategy targets -2x the daily move of AI infrastructure company CoreWeave, translating declines in the referenced company’s shares into amplified gains for the fund. Daily reset mechanics are central to such products, aligning returns closely with same-day underlying moves rather than multi-day trends.
Tradr 2X Short APLD Daily ETF (APLZ) gained 16.22%. This ETF aims to deliver -2x the daily return of digital infrastructure company Applied Digital, so the product’s session performance is directly tied to the inverse of the company’s share move, scaled by the 2x factor. Single-stock inverse ETFs provide concentrated, leveraged exposure to one name’s daily path.
ProShares Ultra Silver (AGQ) surged 15.78%. The fund seeks 2x the daily performance of silver via futures-based exposure, so its move reflects a strong session in the underlying metal. Leveraged commodity funds magnify daily price action, positioning the product to respond forcefully to shifts in silver’s spot and futures curves.
Top 5 US ETF Losers
Defiance Daily Target 2X Long ONDS ETF (ONDL) slipped 23.85%. The fund is constructed to deliver twice the daily return of Ondas Holdings, meaning any weakness in the underlying equity is magnified at the 2x rate. As a daily resetting product, the session’s directional move in the base stock is the predominant driver of the outcome.
Leverage Shares 2X Long ONDS Daily ETF (ONDG) declined 23.68%. This strategy also provides 2x daily long exposure to Ondas Holdings, so its performance closely shadows the underlying equity’s path with leverage. Differences among issuers can arise from fees and execution, but daily returns are primarily a function of the underlying stock’s move and the targeted 2x factor.
Tradr 2X Long ONDS Daily ETF (ONDU) fell 23.46%. Targeting double the daily performance of Ondas Holdings, the fund translates the company’s share-level movement into amplified ETF returns. As with peer products, daily reset mechanics mean the single-session move is what matters most for the fund’s outcome.
T-REX 2X LONG FIGR DAILY TARGET ETF (FGRU) dropped 23.38%. This single-stock ETF seeks to deliver 2x the daily return of FIGR, so any deterioration in the underlying security can result in pronounced negative returns for the fund. Daily leverage products are built for short-term exposure to a name’s path rather than multi-day compounding effects.
AdvisorShares MSOX 2X Daily ETF (MSOX) retreated 19.21%. The fund targets twice the daily performance of a basket of U.S. cannabis equities (via a levered interpretation of the MSOS strategy), so sector-level weakness translates into amplified downside for the ETF. Leveraged thematic equity exposure magnifies both advances and reversals in the constituent group.
Top 5 Equity Index ETFs
Direxion Daily MSCI Emerging Markets Bull 3X Shares (EDC) added 6.30%. By targeting 3x the daily return of MSCI Emerging Markets, the fund amplifies broad EM equity momentum across countries and sectors. Daily reset leverage means its outcome is closely tethered to the single-session move in the underlying index.
iShares MSCI South Korea ETF (EWY) gained 4.93%. Tracking MSCI Korea, the ETF reflects the day’s advance in Korean equities across large- and mid-cap constituents. Country-specific index exposure channels local market dynamics into diversified portfolio returns.
ProShares UltraPro QQQ (TQQQ) increased 2.52%. Seeking 3x the daily return of the Nasdaq-100, the fund magnifies moves in mega-cap growth and technology names. Its performance is highly sensitive to the index’s daily path because of the triple leverage and daily reset.
iShares MSCI Taiwan ETF (EWT) rose 2.35%. The ETF follows Taiwan’s equity market, which is heavily represented by semiconductor and electronics manufacturers. Country exposure concentrates performance in sectors pivotal to global technology supply chains.
iShares MSCI All Country Asia ex Japan ETF (AAXJ) advanced 2.17%. The fund maps broad Asia ex-Japan equities, encompassing China, South Korea, Taiwan, India, and Southeast Asia. Regional diversification across large- and mid-cap constituents underpins the day’s result.
Top 5 Commodity ETFs
ProShares Ultra Silver (AGQ) jumped 15.78%. With 2x daily silver exposure, the fund’s strong session reflects a pronounced move in silver futures and spot benchmarks. The leveraged design heightens sensitivity to the metal’s intraday trajectory and term structure.
iShares Silver Trust (SLV) gained 7.90%. As a physically backed silver vehicle, SLV’s performance is driven by bullion prices and closely tracks spot movements. Its structure provides a straightforward path to the metal without leverage.
ProShares Ultra Gold (UGL) advanced 3.98%. The ETF seeks 2x the daily performance of gold, using derivatives to magnify bullion’s move. Leveraged gold exposure typically accentuates the metal’s response to market dynamics on a daily basis.
DB GOLD DOUBLE LONG ETN (DGP) increased 3.95%. This ETN targets double the daily return of gold, translating the commodity’s session move into amplified outcomes through a note-based structure. As an ETN, credit risk and tracking methodology complement the exposure profile.
Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) rose 3.84%. Targeting 2x the daily return of gold miners, the fund’s performance reflects equity sensitivity to gold price changes and operational leverage within mining companies. Miner-focused strategies can respond more sharply than bullion funds to commodity moves.
Top 5 Industry ETFs
Direxion Daily Semiconductors Bull 3x Shares (SOXL) climbed 2.88%. The fund seeks triple the daily performance of a semiconductor index, magnifying the day’s gains among chipmakers and equipment suppliers. Because of the 3x gearing, sector-level moves in semiconductors are amplified in the ETF.
Direxion Daily Real Estate Bull 3X Shares (DRN) advanced 2.45%. The strategy targets 3x the daily return of U.S. real estate equities, including REITs, so an improving session for property-linked shares translates into outsized ETF returns. Daily leverage intensifies sensitivity to interest-rate-related sectors.
Invesco Solar ETF (TAN) gained 2.14%. TAN offers direct exposure to solar energy manufacturers and installers globally, so its result reflects industry dynamics across hardware, efficiency, and deployment segments. As a thematic fund, performance is concentrated in a single clean energy vertical.
Direxion Daily Financial Bull 3x Shares (FAS) increased 1.80%. The ETF aims for triple the daily return of U.S. financials, translating moves in banks, insurers, and diversified financials into leveraged outcomes. Financials’ session performance drives the fund’s amplified result.
United States Natural Gas Fund LP (UNG) added 1.78%. UNG tracks front-month natural gas futures, providing commodity exposure tied to price movements in the prompt contract. Futures roll and term structure influence the fund’s day-to-day behavior alongside spot moves.
Top 5 Bond ETFs
VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) firmed 0.34%. The ETF invests in emerging market sovereign bonds denominated in local currencies, so its performance reflects both bond price changes and currency fluctuations versus the U.S. dollar. Country and duration mix shape sensitivity to rates and FX.
First Trust Emerging Markets Local Currency Bond ETF (FEMB) gained 0.33%. Similar to peers, FEMB focuses on EM debt in local currencies, balancing rate exposure with currency impacts across its portfolio. Index methodology guides country weights and maturity profiles.
SPDR Bloomberg Emerging Markets Local Bond ETF (EBND) improved 0.32%. EBND tracks a diversified EM local-currency bond benchmark, transmitting shifts in yields and FX into total returns. Allocation across sovereign issuers defines the fund’s risk characteristics.
Innovator S&P Investment Grade Preferred ETF (EPRF) edged higher 0.31%. The fund targets investment-grade preferred securities, where hybrid equity-debt characteristics influence both yield and price behavior. Preferred exposure can respond to credit spreads and rate moves differently than Treasuries.
iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) increased 0.26%. LEMB offers another route to EM local sovereign debt, with returns shaped by domestic yield curves and currency valuation changes. Diversification across multiple markets reduces single-country concentration.
Conclusion
The U.S. ETF landscape reflected a constructive, risk-on tone centered on growth and cyclical pockets, with semiconductors and Asia-linked equity exposures advancing alongside a powerful rally in precious metals, led by silver. Leveraged and inverse single-stock vehicles delivered pronounced dispersion—amplified gains where underlying names softened and sharp losses where base equities faltered—highlighting the daily-reset mechanics that concentrate outcomes in single-session moves. Energy-themed products underperformed on the day, while real estate and financials registered steadier gains among industry cohorts. In fixed income, emerging market local-currency bond strategies posted modest advances, whereas long-duration U.S. Treasuries eased, underscoring a mild preference for risk-bearing assets over rate-sensitive exposure. Overall, the session’s structure favored technology, metals, and select international markets within the U.S. ETF complex.
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