Market Overview
On Friday, Jul 31, the Dow Jones added 0.53%, the S&P 500 gained 0.70%, and the Nasdaq advanced 1.00%.
ETF market breadth was firm, with leveraged and thematic products showing wide dispersion while inverse vehicles generally eased.
Top 5 US ETF Gainers
Corgi AXTI 2x Daily ETF (AXTC) rallied 57.29%. Designed to deliver two times the daily performance of compound semiconductor wafer manufacturer AXT Inc., the ETF surged as the underlying shares advanced.
AXT reported quarterly results that topped guidance and consensus, and analysts pointed to tightening conditions across the optical communications supply chain.
T-REX 2X LONG AXTI DAILY TARGET ETF (AXTU) climbed 56.89%. The fund targets two times the daily return of AXT, and it rallied in step with the stock’s upswing.
Leverage Shares 2X Long AXTI Daily ETF (AXTL) gained 56.79%. This product amplifies, by two times, daily moves in AXT and gained on the same upward impulse.
Tradr 2X Long AXTI Daily ETF (AXTX) advanced 56.17%. The ETF seeks two times the daily move of AXT, tracking the underlying shares’ advance during the session.
Corgi AMZN 2x Daily ETF (AMAA) rose 31.52%. The vehicle provides two times daily exposure to e-commerce and cloud company Amazon, and it climbed as the stock firmed intraday.
Top 5 US ETF Losers
T-REX 2X Long RBLX Daily Target ETF (RBLU) sank 54.47%. The ETF seeks two times the daily performance of online gaming platform company Roblox, and it tumbled as the underlying shares retreated.
Roblox reported user metrics below expectations and issued a softer bookings outlook, prompting rating downgrades from brokers.
Corgi RDDT 2x Daily ETF (RDDC) slid 42.83%. The fund targets two times the daily return of social media forum operator Reddit, and it slumped alongside the stock’s pullback.
GraniteShares 2x Long RDDT Daily ETF (RDTL) dropped 41.98%. This product amplifies, by two times, daily moves in Reddit and dropped amid the underlying weakness.
Tradr 2x Short Amzn Daily ETF (AMZO) declined 30.38%. The vehicle seeks two times the inverse of Amazon, and it declined as the underlying exposure strengthened intraday.
Yieldmax RBLX Option Income Strategy ETF (RBLY) fell 24.81%. The fund pursues an options-based income strategy tied to Roblox shares, and it sank alongside the underlying stock’s slide.
Top 5 Equity Index ETFs
iShares MSCI Taiwan ETF (EWT) rose 2.71%. The fund tracks large- and mid-cap Taiwanese equities via the MSCI Taiwan benchmark, and the gain mirrored the market’s advance during the session.
Direxion Daily MSCI Emerging Markets Bull 3X Shares (EDC) added 2.31%. The ETF targets three times the daily performance of the MSCI Emerging Markets Index, and it benefited from the index’s intraday strength.
ProShares UltraPro QQQ (TQQQ) increased 2.09%. The product seeks three times the daily move of the Nasdaq-100 and added as the benchmark firmed.
ProShares UltraPro S&P500 ETF (UPRO) gained 1.95%. The fund targets three times the daily return of the S&P 500 and climbed with the broad index.
Invesco Golden Dragon China ETF (PGJ) advanced 1.59%. The ETF concentrates on U.S.-listed Chinese ADRs and participated in the day’s gains.
Top 5 Commodity ETFs
Direxion Daily Gold Miners Index Bear 2X Shares (DUST) rose 6.62%. The product provides two times inverse exposure to gold mining equities and rose as miners eased.
ProShares UltraShort Silver (ZSL) gained 4.44%. The fund targets two times the inverse of silver prices and advanced as the metal softened.
ProShares UltraShort Gold (GLL) added 3.15%. The ETF seeks two times inverse exposure to gold prices and increased as bullion weakened.
VanEck Oil Services ETF (OIH) climbed 2.39%. The fund focuses on oilfield services and equipment companies and gained alongside group strength.
ProShares Ultra Energy (DIG) advanced 1.88%. The product targets two times the daily performance of U.S. energy equities and moved higher with the sector.
Top 5 Industry ETFs
ProShares UltraShort Materials (SMN) jumped 4.82%. The fund delivers two times inverse exposure to U.S. materials stocks and rallied as the group softened.
Consumer Discretionary Select Sector SPDR Fund (XLY) rose 3.29%. The ETF holds U.S. consumer discretionary constituents of the S&P 500, and it advanced with the segment.
VanEck Retail ETF (RTH) increased 2.96%. The fund concentrates on U.S. retail leaders and climbed amid sector strength.
Direxion Daily Energy Bull 2x Shares (ERX) added 1.98%. The product seeks two times the daily move of U.S. energy equities and added as energy stocks firmed.
iShares U.S. Telecommunications ETF (IYZ) gained 1.86%. The ETF invests in U.S. telecom services companies and edged higher alongside the industry.
Top 5 Bond ETFs
Infracap REIT Preferred ETF (PFFR) increased 0.51%. The fund holds preferred securities issued by U.S. real estate investment trusts and inched higher with preferreds.
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) rose 0.44%. The actively managed portfolio of U.S. preferred shares gained modestly.
SPDR Bloomberg Convertible Securities ETF (CWB) added 0.35%. The ETF invests in U.S. convertible bonds and notes and advanced during the session.
Innovator S&P Investment Grade Preferred ETF (EPRF) gained 0.21%. The fund targets investment-grade U.S. preferred stocks and posted a small gain.
First Trust SSI Strategic Convertible Securities ETF (FCVT) edged up 0.19%. The actively managed convertible securities fund ticked higher.
Conclusion
Single-stock leveraged products dominated the tape, with AXTI-linked vehicles surging while Roblox-linked funds slid sharply. Equity index leverage participated on the upside and commodity inverses firmed, highlighting cross-asset leadership beyond U.S. large caps. Within sectors, materials inverses outperformed while discretionary and retail funds advanced, and bond-oriented preferred and convertible products posted modest gains. The session underscored pronounced divergence between leveraged longs and their inverse counterparts tied to the same underlyings.
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