Market Overview
On Monday Sep 28, the Dow Jones fell 0.67%, the S&P 500 slipped 0.77%, and the Nasdaq declined 0.92%.
ETF market breadth was defensive, with inverse equity and commodity-linked products broadly firmer while leveraged long vehicles lagged. Volatility was most pronounced in leveraged single-stock strategies, reflecting wide underlying moves.
Top 5 US ETF Gainers
Canary HBAR ETF (HBR) jumped 29.22%. The fund offers unleveraged exposure to the Hedera Hashgraph HBAR token, and it climbed as the underlying asset advanced.
Tradr 2X Short BE Daily ETF (BEZ) surged 18.61%. The vehicle seeks two times the inverse of solid-oxide fuel cell manufacturer Bloom Energy, and it advanced as the underlying exposure weakened intraday.
Bloom Energy sank 9%: Oracle Project Jupiter overhang, lawsuits, and profit-taking test the stock's massive 2026 rally.
2x Chainlink ETF (CHNU) added 16.78%. The ETF seeks two times the daily move of the Chainlink LINK token, tracking the underlying asset's advance during the session.
MicroSectors Gold Miners -3x Inverse Leveraged ETN (GDXD) gained 16.41%. The ETN targets three times the inverse daily move of gold-mining equities, and it rallied as the group softened.
Gold lost 4% on Monday to trade at a more than seven-week low, as rising oil prices stoked inflation concerns and bolstered bets on tighter monetary policy, while a higher dollar and Treasury yields created further headwinds for the metal.
GraniteShares 2x Long BB Daily ETF (BBUL) climbed 15.94%. This product amplifies, by two times, daily moves in cybersecurity and IoT software provider BlackBerry and advanced alongside the company's upswing.
BlackBerry surged 7% after QNX posted record revenue with 27% growth and its largest-ever design win worth $100M in future royalties.
Top 5 US ETF Losers
T-REX 2X Long RBLX Daily Target ETF (RBLU) sank 19.84%. The fund targets two times the daily return of online gaming and metaverse platform Roblox, and it fell as the underlying shares retreated.
Roblox shares weakened after Jefferies downgraded the stock and ValueAct disclosed a reduced stake.
Corgi BE 2x Daily ETF (BEC) dropped 19.37%. The fund seeks two times the daily move of Bloom Energy, tracking the underlying stock's retreat during the session.
Leverage Shares 2x Long NU Daily ETF (NUG) slid 19.35%. Designed to deliver two times the daily performance of Latin American digital banking platform Nu Holdings, the ETF declined as the shares pulled back.
Nu Holdings shares sank after reports the company is considering acquiring Monzo in a deal valued at up to $13 billion.
Tradr 2X Long BE Daily ETF (BEX) fell 17.84%. The product magnifies, by two times, daily moves in Bloom Energy, and it tumbled on the same downward impulse.
Corgi ARM 2x Daily ETF (ARMA) declined 17.79%. The vehicle targets two times the daily return of chip architecture company Arm Holdings, and it retreated as the underlying shares softened.
Arm Holdings, the processor architecture company, outlined its role in Nvidia's new agent security platform as its shares fell 8.7% on Monday. The drop was steep, but Arm's announcement described a possible route to more chip demand rather than a new customer order.
Top 5 Equity Index ETFs
ProShares UltraPro Short QQQ (SQQQ) rose 3.20%. The fund targets three times the inverse daily performance of the Nasdaq-100, and it advanced as the index weakened.
ProShares UltraPro Short S&P500 ETF (SPXU) added 2.32%. The ETF seeks three times inverse exposure to the S&P 500, and it gained as large caps slipped.
ProShares UltraShort QQQ (QID) increased 2.15%. The product delivers two times the inverse daily move of the Nasdaq-100, and it firmed alongside the benchmark's decline.
ProShares UltraPro Short Dow30 ETF (SDOW) advanced 2.06%. The fund targets three times the inverse daily return of the Dow Jones Industrial Average, and it rose as the average eased.
Direxion Daily Small Cap Bear 3X Shares (TZA) gained 2.00%. The ETF provides three times inverse exposure to U.S. small-cap equities, and it climbed as that cohort softened.
Top 5 Commodity ETFs
ProShares UltraShort Silver (ZSL) jumped 11.21%. The fund delivers two times the inverse daily performance of silver, and it rallied as the metal weakened.
Gold and silver prices fell sharply Monday, with silver posting the larger decline, as rising global bond yields cooled investor appetite for non-interest-bearing assets, like precious metals.
Direxion Daily Gold Miners Index Bear 2X Shares (DUST) surged 10.58%. The ETF seeks two times the inverse daily move of gold-mining equities, and it rose as the miners retreated.
ProShares UltraShort Gold (GLL) advanced 7.98%. The product provides two times the inverse daily return of gold, and it gained as bullion softened.
ProShares Ultra Bloomberg Crude Oil (UCO) increased 2.29%. The fund targets two times the daily performance of crude oil futures, and it climbed as oil prices firmed.
United States Oil Fund LP (USO) added 1.13%. The ETF provides unleveraged exposure to near-month West Texas Intermediate crude oil futures, and it advanced with the commodity.
Top 5 Industry ETFs
Direxion Daily Semiconductors Bear 3x Shares (SOXS) rose 6.17%. The fund seeks three times inverse exposure to U.S. semiconductor equities, and it gained as the group declined.
Direxion Daily Financial Bear 3X ETF (FAZ) advanced 3.56%. The ETF targets three times the inverse daily move of U.S. financials, and it firmed as the sector softened.
ProShares UltraShort Financials (SKF) increased 2.25%. The product delivers two times the inverse daily return of U.S. financial equities, and it climbed as that cohort eased.
Direxion Daily Real Estate Bear 3X Shares (DRV) gained 1.39%. The fund provides three times inverse exposure to U.S. real estate investment trusts, and it rose as property shares slipped.
PROSHARES ULTRASHORT MATERIALS (SMN) added 1.25%. The ETF seeks two times the inverse daily move of U.S. materials companies, and it edged higher as the sector weakened.
Top 5 Bond ETFs
WisdomTree Floating Rate Treasury Fund (USFR) inched up 0.06%. The fund holds U.S. Treasury floating rate notes, providing short-duration government exposure.
SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) edged up 0.01%. The fund invests in U.S. Treasury bills maturing in one to three months, and it was flat to slightly firmer in the session.
ISHARES TRUST TRUST ISHARES 0-1 YEAR TREASURY BOND ETF (SHV) added 0.01%. The ETF tracks very short-dated U.S. Treasurys up to one year in maturity, and it was little changed on the day.
VanEck IG Floating Rate ETF (FLTR) was unchanged at 0.00%. The fund holds investment-grade floating-rate notes, and it finished steady alongside that market segment.
iShares Floating Rate Bond ETF (FLOT) dipped 0.02%. The ETF invests in U.S. investment-grade floating-rate bonds, and it slipped marginally in step with its underlying holdings.
Conclusion
A risk-off tone shaped ETF trading, with inverse equity and precious metals products advancing while leveraged long single-stock funds saw outsized declines. Commodity-linked vehicles were mixed as oil-linked longs firmed and gold and silver inverses rallied. The day featured pronounced dispersion between leveraged longs and their bearish counterparts tied to the same underlyings, particularly around Bloom Energy-focused products and Roblox exposure.
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