Market Overview
On Wednesday, Jul 29, the Dow Jones Industrial Average declined 2.19%, the S&P 500 fell 1.52%, and the Nasdaq Composite lost 1.74%.
ETF market breadth was defensive, with inverse equity and sector products broadly firmer while leveraged long single-stock funds lagged.
Top 5 US ETF Gainers
Tradr 2X Short IREN Daily ETF (IREZ) advanced 27.05%. The vehicle seeks two times the inverse of bitcoin mining and AI infrastructure company IREN, and it gained as the underlying exposure weakened intraday.
Tradr 2X Short AAOI Daily ETF (AAOZ) rose 26.61%. Designed to deliver two times inverse performance of photonic chip company Applied Optoelectronics, the ETF climbed as the shares softened during the session.
Tradr 2X Short APLD Daily ETF (APLZ) added 25.72%. This product magnifies, by two times, inverse daily moves in AI data center company Applied Digital, and it rallied alongside the stock’s pullback.
Tradr 2X Short NBIS Daily ETF (NBIZ) gained 25.21%. The fund provides two times inverse exposure to AI cloud infrastructure provider Nebius Group, and it increased as the underlying name eased.
Reports highlighted that Nebius Group advanced with other cloud computing names.
Tradr 2X ShortCBRS Daily ETF (CBRZ) rose 22.27%. The product targets two times the inverse of AI accelerator hardware company Cerebras Systems, and it moved higher as the underlying stock weakened.
Cerebras Systems was reported to advance amid strength in cloud and AI peers.
Top 5 US ETF Losers
DEFIANCE DAILY TARGET 2X LONG LMND ETF (LMNX) tumbled 48.02%. The fund targets two times the daily return of insurance technology company Lemonade, and it slid as the shares retreated.
Lemonade raised its outlook as premium growth improved and reported higher revenue with narrowing losses.
GraniteShares 2x Long VRT Daily ETF (VRTL) sank 33.92%. The ETF seeks two times the daily move of data center power and cooling provider Vertiv Holdings, and it declined as the underlying stock fell.
Corgi VRT 2x Daily ETF (VRC) dropped 32.05%. Designed to deliver two times the daily performance of Vertiv Holdings, the vehicle retreated alongside the same downward move.
DEFIANCE DAILY TARGET 2X LONG KEEL ETF (KEEX) fell 29.88%. The product aims for two times the daily performance of special purpose acquisition company Keel Acquisition, and it declined as the underlying name weakened.
DEFIANCE DAILY TARGET 2X LONG HIMS ETF (HIMZ) decreased 28.93%. The fund targets two times the daily return of direct-to-consumer telehealth platform Hims & Hers Health, and it moved lower as the shares eased.
Top 5 Equity Index ETFs
ProShares UltraPro Short Dow30 ETF (SDOW) gained 6.58%. The fund delivers three times inverse exposure to the Dow Jones Industrial Average and rose as the blue-chip gauge declined.
ProShares UltraPro Short QQQ (SQQQ) added 6.30%. It targets three times inverse daily performance of the Nasdaq-100 and advanced as the technology-heavy benchmark softened.
Direxion Daily Small Cap Bear 3X Shares (TZA) increased 4.86%. The ETF seeks three times inverse exposure to U.S. small-cap equities represented by the Russell 2000 and benefited as small caps weakened.
ProShares UltraPro Short S&P500 ETF (SPXU) climbed 4.58%. The vehicle provides three times inverse exposure to the S&P 500 and rose as the large-cap index fell.
ProShares UltraShort Dow30 (DXD) advanced 4.48%. It offers two times inverse exposure to the Dow Jones Industrial Average and gained amid the index’s decline.
Top 5 Commodity ETFs
ProShares Ultra Bloomberg Crude Oil (UCO) jumped 10.79%. The fund targets two times the daily performance of Bloomberg crude oil futures and rallied as oil prices strengthened.
Crude oil strengthened on geopolitical headlines and broader market volatility.
DB GOLD SHORT ETN (DGZ) rose 7.35%. The note offers inverse exposure to gold and advanced as bullion softened during the session.
Gold futures extended a decline, leaving bullion softer.
United States Oil Fund LP (USO) gained 7.32%. The fund tracks front-month West Texas Intermediate crude oil futures and increased alongside the rally in crude.
PROSHARES ULTRA ENERGY (DIG) advanced 4.12%. This ETF provides two times daily exposure to U.S. energy equities and benefited from strength across the energy complex.
Direxion Daily Gold Miners Index Bear 2X Shares (DUST) added 2.09%. The fund targets two times inverse exposure to gold mining equities and firmed as miners eased.
Top 5 Industry ETFs
Direxion Daily Semiconductors Bear 3x Shares (SOXS) surged 16.35%. The ETF provides three times inverse exposure to U.S. semiconductor equities and rallied as chip stocks weakened.
Direxion Daily Financial Bear 3x Shares (FAZ) rose 4.59%. The fund seeks three times inverse exposure to U.S. financial services stocks and gained as the group softened.
Direxion Daily Energy Bull 2x Shares (ERX) climbed 3.78%. It targets two times daily performance of U.S. energy equities and advanced as the sector firmed.
ProShares UltraShort Financials (SKF) increased 3.36%. The ETF delivers two times inverse exposure to U.S. financials and rose as bank shares eased.
Invesco DB Commodity Index Tracking Fund (DBC) added 2.87%. The product provides exposure to a diversified basket of commodity futures across energy, metals, and agriculture and participated in the broad-based commodity strength.
Top 5 Bond ETFs
FlexShares iBoxx 3 Year Target Duration TIPS Index Fund (TDTT) rose 0.25%. The fund holds short-duration U.S. Treasury inflation-protected securities near a three-year target duration and edged higher with TIPS.
iShares 0-5 Year TIPS Bond ETF (STIP) gained 0.23%. The ETF focuses on U.S. Treasury inflation-protected securities with maturities up to five years and advanced modestly.
Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) added 0.22%. The fund concentrates on short-term U.S. TIPS and inched higher.
Schwab U.S. TIPS ETF (SCHP) increased 0.11%. The portfolio holds a broad mix of U.S. Treasury inflation-protected securities and posted a small gain.
iShares TIPS Bond ETF (TIP) rose 0.10%. The ETF invests across the U.S. TIPS curve and finished slightly firmer.
Conclusion
Inverse products led the session as equity benchmarks slumped, with single-stock bearish funds and index bears outpacing leveraged long peers. Energy-linked vehicles were notable on the upside alongside crude strength, while gold-related bearish exposures also firmed. Semiconductor and financial inverses featured among sector leaders, and bond-linked TIPS products posted modest gains. Dispersion between leveraged longs and their inverse counterparts was pronounced across several underlying names, underscoring leverage-driven volatility.
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