Market Overview
For Jul 20–Jul 24, 2026, the Dow Jones Industrial Average slipped 0.38%, the S&P 500 eased 0.61%, and the Nasdaq Composite fell 2.13%.
ETF market tone was mixed as dispersion widened between leveraged long and inverse products, while cross-asset funds reflected a rotation that favored commodity-linked exposure.
Top 5 US ETF Gainers
Defiance Daily Target 2X Long SMCI ETF (SMCX) advanced 49.06%. The fund targets two times the weekly (WTD) return of server hardware company Super Micro Computer, and the move reflected strength in the underlying shares.
Graniteshares 2x Long SMCI Daily ETF (SMCL) gained 48.61%. This product amplifies, by two times, daily moves in Super Micro Computer and rallied alongside the stock's upswing.
Defiance Daily Target 2X Long RIOT ETF (RIOX) surged 47.59%. Designed to deliver two times the weekly performance of bitcoin mining company Riot Platforms, the ETF climbed as the underlying stock advanced.
Tradr 2X Short TSLA Daily ETF (TSLQ) jumped 39.09%. The vehicle seeks two times the inverse of electric vehicle company Tesla, and it increased as the underlying exposure weakened during the week.
Tesla logged its sharpest weekly decline since 2022, highlighting mounting pressure on the shares.
T-Rex 2x Inverse Tesla Daily Target ETF (TSLZ) added 38.83%. The product provides two times inverse exposure to Tesla, and it rose as the shares slid over the period.
Top 5 US ETF Losers
T-Rex 2x Long Tesla Daily Target ETF (TSLT) slumped 34.86%. The fund seeks two times the weekly move of Tesla, and it fell as the automaker's shares retreated.
Direxion Daily TSLA Bull 2X Shares (TSLL) declined 34.83%. The ETF magnifies, by two times, daily moves in Tesla and sank amid the stock's pullback.
Leverage Shares 2x Long TSLA Daily ETF (TSLG) dropped 34.81%. Designed to deliver two times daily performance of Tesla, the vehicle slid as the underlying weakened.
GraniteShares 2x Long TSLA Daily ETF (TSLR) retreated 34.68%. The product targets two times the daily return of Tesla and decreased alongside the week's decline in the shares.
Roundhill TSLA WeeklyPay ETF (TSLW) fell 22.54%. The fund provides Tesla-focused exposure with a weekly distribution objective, and it eased as the stock ended the week lower.
Top 5 Equity Index ETFs
ProShares UltraPro Short QQQ (SQQQ) advanced 4.67%. The fund targets three times inverse exposure to the Nasdaq-100, and it rose as the index lost ground during the week.
Direxion Daily CSI 300 China A Share Bull 2X Shares (CHAU) gained 4.21%. The ETF seeks two times daily performance of onshore Chinese large-cap equities represented by the CSI 300, and it benefited from the benchmark's weekly strength.
Direxion Daily FTSE China Bull 3X Shares (YINN) added 3.40%. The product targets three times daily performance of FTSE China equities and climbed with the underlying market.
ProShares UltraShort QQQ (QID) rose 3.23%. The fund provides two times inverse exposure to the Nasdaq-100, and it increased amid the index's weekly decline.
WisdomTree Japan Hedged Equity Fund (DXJ) advanced 2.99%. The ETF holds export-oriented Japanese equities while hedging yen fluctuations, and the gain mirrored the underlying basket's move.
Top 5 Commodity ETFs
Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) climbed 10.47%. The fund seeks two times daily performance of global gold mining equities and rallied as precious-metals sentiment improved during the week.
Gold prices edged higher during the week, providing a supportive backdrop for gold-exposed equities.
United States Oil Fund LP (USO) jumped 10.27%. The ETF offers exposure to West Texas Intermediate crude oil futures, and it advanced as crude markets firmed.
ProShares Ultra Bloomberg Crude Oil (UCO) increased 7.15%. The product targets two times daily performance of a Bloomberg crude oil futures benchmark, and it gained amid the week's upswing in crude.
ProShares Ultra Silver (AGQ) rose 7.10%. The ETF provides two times daily performance of silver prices and participated in the metal's advance.
ProShares Ultra Energy (DIG) advanced 6.98%. The fund seeks two times daily performance of U.S. energy equities and climbed alongside strength in the space.
Top 5 Industry ETFs
Direxion Daily Energy Bull 2x Shares (ERX) gained 6.61%. The ETF targets two times daily performance of U.S. energy sector equities and rose with the group's improvement.
Invesco DB Commodity Index Tracking Fund (DBC) added 3.86%. The fund provides broad exposure to a diversified basket of energy, metals, and agriculture futures, and it advanced during the week's commodity strength.
VanEck Uranium and Nuclear ETF (NLR) increased 3.74%. The vehicle concentrates on uranium miners and nuclear value chain companies, which moved higher over the week.
SPDR S&P Metals & Mining ETF (XME) advanced 3.45%. The ETF focuses on U.S. metals and mining equities and participated in the industry's weekly gains.
Energy Select Sector SPDR Fund (XLE) climbed 3.36%. The fund holds large-cap U.S. energy companies and tracked the sector's advance.
Top 5 Bond ETFs
iShares Floating Rate Bond ETF (FLOT) rose 0.10%. The fund holds investment-grade floating rate notes, and the modest gain reflected steady credit conditions.
WisdomTree Floating Rate Treasury Fund (USFR) increased 0.08%. The ETF invests in floating rate U.S. Treasury securities, edging higher with short-term government paper.
VanEck IG Floating Rate ETF (FLTR) added 0.08%. The fund targets investment-grade floating rate corporate bonds and notched a small weekly advance.
SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) gained 0.07%. The vehicle holds ultra-short U.S. Treasury bills and saw a slight uptick.
SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN) edged up 0.06%. The ETF owns investment-grade floating rate notes and finished fractionally firmer.
Conclusion
ETFs reflected a bifurcated tone this week, with leveraged single-stock vehicles dominating both extremes and inverse products linked to high-momentum names firming. Commodity-linked and energy-focused funds provided cross-asset leadership, while index inverses benefited from weakness in growth benchmarks. Notable dispersion emerged between leveraged longs and their inverse counterparts tied to the same underlyings, reinforcing leverage’s role in amplifying moves across the lineup above.
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