Top Performing Leveraged/Inverse ETFs: 08/23/2020
August 24, 2020 at 15:58 PM EDT
These were last week’s top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly. Always do your homework. This week was a bet for FANGs. While the regular MicroSectors FANG+ ETN (FNGS) was up 7.82%, its leveraged cousins, the MicroSectors FANG+™ Index 3X Inverse Leveraged ETN (FNGU) and MicroSectors FANG+ Index 2X Leveraged ETN (FNGO) ere up a colossal 24.55% and 15.99% respectively. FANG” companies are those like Facebook, Apple, Amazon, Netflix, and Alphabet (formerly Google), not a bad bet in the 2020 work from home year. Other sectors to watch this week were notably oil and U.S. bonds. Three funds focusing on oil and another Energy fund made our top ten list this week: the MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD), the Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP), the MicroSectors U.S. Big Oil Index -2X Inverse Leveraged ETN (NRGZ) and the Direxion Daily Energy Bear 2X Shares (ERY) all did incredibly well this week.