Market Overview
For Aug 24 – Aug 28, 2026, the Dow Jones Industrial Average advanced 0.53%, the S&P 500 increased 0.49%, and the Nasdaq Composite climbed 0.85%.
ETF market breadth was mixed, with inverse equity and commodity products generally firmer while several leveraged longs also posted outsized moves. Trading tone reflected defensive tilts in metals and select regional exposures.
Top 5 US ETF Gainers
Teucrium 2x Daily Wheat ETF (WXET) jumped 24.65%. The fund delivers two times daily exposure to wheat futures, and it surged as wheat prices advanced during the week.
GraniteShares 2x Long CRWD Daily ETF (CRWL) gained 24.51%. The product magnifies, by two times, daily moves in cybersecurity software provider CrowdStrike, and it rallied alongside the stock’s upswing during the week.
T-Rex 2X Long Microsoft Daily Target ETF (MSFX) rose 12.66%. Designed to deliver two times the weekly performance of enterprise software company Microsoft, the ETF advanced as the shares gained during the week.
Microsoft reassured employees about AI data center impacts, keeping Microsoft shares in focus.
Direxion Daily MSFT Bull 2X Shares (MSFU) increased 12.66%. This product amplifies, by two times, daily moves in Microsoft and climbed on the same upward impulse.
GraniteShares 2x Long MSFT Daily ETF (MSFL) added 12.59%. The vehicle seeks two times the daily return of Microsoft, and it added as the underlying firmed through the period.
Top 5 US ETF Losers
Defiance Daily Target 2X Short MSTR ETF (SMST) declined 18.35%. The vehicle seeks two times the inverse of bitcoin treasury company MicroStrategy, and it declined as the underlying firmed during the week.
MicroStrategy shares fell during the week, drawing attention to the stock’s signal.
T-Rex 2X Inverse MSTR Daily Target ETF (MSTZ) dropped 18.34%. The fund provides two times inverse exposure to MicroStrategy, and it fell in step with the stock’s weekly strength.
YieldMax PYPL Option Income Strategy ETF (PYPY) slid 13.98%. This ETF references digital payments platform PayPal Holdings via an options-based income strategy, and it slipped as the underlying softened during the week.
Defiance Daily Target 2X Long LLY ETF (LLYX) retreated 12.85%. Designed to deliver two times the daily performance of pharmaceutical company Eli Lilly, the ETF retreated as the shares pulled back over the week.
MICROSECTORS GOLD 3X LEVERAGED ETN (SHNY) fell 10.86%. The note targets three times daily long exposure to gold, and it slumped as the metal eased during the period.
Top 5 Equity Index ETFs
Direxion Daily Small Cap Bear 3X Shares (TZA) rose 4.42%. The fund targets three times inverse exposure to U.S. small-cap equities via the Russell 2000, and it rose as the cohort weakened during the week.
iShares MSCI Taiwan ETF (EWT) gained 3.45%. The ETF holds large- and mid-cap Taiwanese shares, and the advance mirrored strength in the MSCI Taiwan universe.
Direxion Daily FTSE China Bear 3X Shares (YANG) increased 3.22%. This vehicle delivers three times inverse exposure to Chinese equities tied to the FTSE lineup, and it gained as the market softened.
ProShares UltraShort Russell 2000 (TWM) added 3.02%. The product seeks two times inverse returns of the Russell 2000 and advanced on the small-cap retreat.
ProShares UltraShort FTSE China 50 (FXP) advanced 2.51%. The fund provides two times inverse exposure to the FTSE China 50 and increased as Chinese large caps eased.
Top 5 Commodity ETFs
ProShares UltraShort Silver (ZSL) advanced 8.73%. The ETF provides two times inverse exposure to silver prices, and it advanced as the metal weakened during the week.
ProShares UltraShort Gold (GLL) climbed 7.37%. The fund targets two times inverse exposure to gold, and it climbed as bullion softened.
ProShares UltraShort Bloomberg Crude Oil (SCO) rose 6.52%. This product delivers two times inverse exposure to crude oil via the Bloomberg benchmark, and it rose as oil prices slipped.
Crude oil drew attention as the United States said it would take control of a large portion of Venezuela’s proven reserves.
Direxion Daily Gold Miners Index Bear 2X Shares (DUST) gained 5.72%. The ETF offers two times inverse exposure to gold miners, and it gained as the equity cohort followed bullion lower.
DB Gold Double Short Exchange Traded Notes (DZZ) added 3.36%. The note seeks two times inverse exposure to gold and added as the metal remained under pressure.
Top 5 Industry ETFs
Direxion Daily Semiconductors Bear 3x Shares (SOXS) increased 5.93%. The fund delivers three times inverse exposure to semiconductor stocks and rallied as the chip cohort softened.
Direxion Daily Real Estate Bear 3X Shares (DRV) advanced 4.30%. This vehicle targets three times inverse exposure to U.S. real estate equities and increased as property names eased.
United States Natural Gas Fund LP (UNG) rose 3.50%. The ETF holds front-month U.S. natural gas futures and rose in step with the commodity’s advance.
Direxion Daily Energy Bear 2x Shares (ERY) climbed 3.33%. The fund provides two times inverse exposure to U.S. energy equities and climbed as the sector declined.
Invesco DB Agriculture Fund (DBA) gained 3.07%. The product holds a diversified basket of agricultural commodities and advanced with broad agriculture strength during the week.
Top 5 Bond ETFs
iShares 20+ Year Treasury Bond ETF (TLT) increased 1.01%. The ETF holds long-duration U.S. Treasuries, and the gain mirrored strength in benchmark government bond prices.
SPDR Portfolio Long Term Corporate Bond ETF (SPLB) advanced 0.94%. This fund invests in long-term U.S. investment-grade corporate bonds, and it advanced as credit markets firmed.
Vanguard Long-Term Corporate Bond ETF (VCLT) rose 0.88%. The ETF concentrates on long-maturity investment-grade corporates and added during the week.
SPDR Portfolio Long Term Treasury ETF (SPTL) gained 0.80%. The fund owns long-term U.S. Treasuries and increased alongside the Treasury bid.
Innovator S&P Investment Grade Preferred ETF (EPRF) added 0.73%. The ETF tracks investment-grade preferred securities and edged higher during the period.
Conclusion
Risk appetite in ETFs skewed toward inverses and commodities, with metals shorts and equity bears among the week’s notable movers while single-stock leveraged longs also delivered sizeable gains. Rotation favored defensive expressions in small caps and China while precious metals weakness fed inverse products, and dispersion remained pronounced between leveraged longs and their inverse counterparts tied to the same underlyings. Across assets, bond funds’ steady gains rounded out a mixed, leverage-driven tape.
