Revealing Q1 2024's Top ETFs: NVDX Soars Beyond 200%, GBTC's Breakthrough
In the first quarter of 2024, the T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) stood out with a surge of over 200%, while the Grayscale Bitcoin Trust Fund (GBTC) also emerged as a focal point of attention.
As of March 31st, the S&P 500 index has risen by 10.6% year-to-date, surpassing last year's return rate of 7.5%.
As usual, some ETFs outperformed the market while others showed mediocre performance. This article will assess the top 10 performing ETFs of the year.
Among these top 10 performers, 9 are leveraged ETFs, while the other 3 are single-stock ETFs related to the rapidly growing artificial intelligence chip company NVIDIA.
The T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) is the top-performing ETF of the year, boasting a return rate of 205% so far.
The only non-leveraged ETF in the top ten rankings is the Grayscale Bitcoin Trust Fund (GBTC). GBTC has surged by 82.5%, surpassing the returns of other spot Bitcoin ETFs, such as the iShares Bitcoin Trust (IBIT) with a 52% return rate. This is because GBTC was traded in a non-ETF form at the beginning of the year, unlike other funds.
On the other hand, bond performance is not as remarkable. The iShares Core U.S. Aggregate Bond ETF (AGG) declined by 1.5% in the first quarter, giving back part of the 5.7% gain from last year.
The best ETFs of the first quarter of 2024 (including leverage)
Excluding leveraged and inverse funds, GBTC is evidently the best-performing ETF year-to-date, followed closely by various Bitcoin and Ethereum futures ETFs (excluding other spot Bitcoin ETFs).
The only non-leveraged ETF among the top 10 best-performing ETFs is the YieldMax NVDA Option Income Strategy ETF (NVDY), which surged by nearly 55%. NVDY employs a covered call ETF strategy on NVIDIA stocks.
The best ETFs of the first quarter of 2024 (excluding leverage)
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