Best Leveraged ETFs of Last Week

Sanghamitra Saha
·3-min read

Wall Street was upbeat last week with the S&P 500 adding 0.6%, the Dow Jones gaining 1.1% and the Nasdaq advancing 1.4%. The benchmark U.S. treasury yield started the week at 4.63%, hit a high of 4.69% and ended the week at 4.50%.

The Fed’s plan to slower the balance sheet tightening process and the release of downbeat jobs data (which triggered bets over sooner-than-expected rate cuts) dragged down bond yields last week. The U.S. economy added 175,000 jobs in April, well below Wall Street expectations of 240,000. Health care and social assistance led the way with a gain of 87,000 jobs.

Meanwhile, corporate earnings have been bullish with Apple and Amazon coming up with both line beats. The corporate commentaries released throughout the week indicated the importance of AI growth and investments (read: ETFs to Tap Amazon's Q1 Earnings Beat, AI Growth).

Meanwhile, crude oil ETF United States Oil Fund LP USO dropped about 6.2% last week on weak demand growth and less supply worries emanated from the Gaza-Israel peace talk. Higher U.S. crude output too played its role in driving down the price of oil (read: Where Could Oil Go From Here? ETFs in Focus).

Against this backdrop, below we highlight winning leveraged ETFs of last week.

ETF Areas in Focus

Direxion Daily S&P Biotech Bull 3x Shares LABU – Up 24.55%

The U.S. benchmark treasury yield fell sharply last week. This boosted growth stocks and biotech technology. Novel drug launches, likely low rates and potential easy access to funds should buoy the zone in the near term.

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares EVAV – Up 22.9%

Several electric vehicle stocks have been in sweet spot lately, as EV giant Tesla has surged post earnings. Chinese EV companies Nio and Xpeng have seen strong sales growth in 2024 despite massive price war. Nio stock was up 19% last week. Further, several auto companies are signing deals with Chinese tech companies to facilitate their innovations on AI and “smart cars.”

T-Rex 2X Long Apple Daily Target ETF AAPX – Up 16.8%

Apple stock gained 5.8% last week on upbeat earnings. Apple reported robust second-quarter fiscal 2024 results, wherein it beat estimates on both earnings and revenues. The iPhone manufacturer lifted its dividend payments and unveiled a record share buyback program despite the steep decline in iPhone sales (read: ETFs to Buy on Apple's Q2 Earnings Beat, Largest-Ever Buyback).

Apple, which lags behind its peer in adopting AI, is gearing up for significant events that are expected to shape its future trajectory. A media event scheduled for May 7 is anticipated to unveil new iPad models and the annual Worldwide Developers Conference (WWDC), starting Jun 10, is anticipated to provide AI-related announcements and insights into the company’s AI strategy.

Direxion Daily FTSE China Bull 3X Shares YINN – Up 16.5%

Despite the Chinese economy’s poor performance last year, global investors are returning to its equities this year. Compelling valuation, market restructuring, billions in buybacks, the AI boom and its impact on various industries have been boosting the space, of late. Foreign carmakers are joining hands with Chinese companies operating in artificial intelligence and other smart car technology. China tech ETF CQQQ added 6.4% last week while Alibaba and Baidu gaining about 7% and 8%, respectively (read: China Tech ETFs in Upbeat Momentum: Here's Why).

AdvisorShares MSOS 2x Daily ETF MSOX – Up 14.1%

Shares of cannabis companies surged last week after the U.S. Department of Justice (DoJ) moved to reclassify marijuana as a less dangerous schedule III drug. This indicates a moderate to low risk of physical and psychological dependence. Cannabis firms would stand to gain significantly as they would no longer fall under the purview of Section 280E of the U.S. federal tax code, presenting one of the most notable advantages.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

United States Oil ETF (USO): ETF Research Reports

Direxion Daily S&P Biotech Bull 3X Shares (LABU): ETF Research Reports

Direxion Daily FTSE China Bull 3X Shares (YINN): ETF Research Reports

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV): ETF Research Reports

AdvisorShares MSOS 2x Daily ETF (MSOX): ETF Research Reports

T-REX 2X Long Apple Daily Target ETF (AAPX): ETF Research Reports

To read this article on Zacks.com click here.

Zacks Investment Research

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • Bitcoin Breakout: 2 Top Ranked Stocks for the Next Leg Higher

    The leading cryptocurrency just broke out from a compelling technical chart pattern

  • Is It Worth Investing in Alibaba (BABA) Based on Wall Street's Bullish Views?

    According to the average brokerage recommendation (ABR), one should invest in Alibaba (BABA). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?

  • Why Stocks Are On Pace For A Historic Bull Market This Year

    Don't let the old and outdated adage "Sell in May and Go Away" keep you from taking advantage of this bull market. Now that stocks have full recovered from their April pullback, Kevin explains how you can profit from what's shaping up to be a bull run for the ages.

  • 3 Top Dividend Stocks to Maximize Your Retirement Income

    The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?

  • The story behind the surge in silver, copper, and gold

    Copper (HG=F) and Silver (SI=F) have both risen to new highs as demand increases for these metals, while Gold (GC=F) also rises as China's Ministry of Finance proceeds with a stimulus plan involving the sale of $138 billion worth of ultra-long special sovereign bonds. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone joins Market Domination Overtime to give insight into metals and how the markets might trade moving forward. McGlone elaborates on what could happen with silver as China looks to buy many precious metals: "There's potential rumors that, we know China has been the biggest buyer of gold, not just Chinese Central Bank, but citizens. There may be some hoarding of silver, but the key thing I'm more worried about silver is that it might follow that path, that autocorrelation path in copper which spikes and then goes back down. In the macro, the big picture, though, I'm very favorable in terms of commodities, most favorable to metals versus most other commodities. " For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino

  • ‘I lost my home when my £1,500 car loan ballooned to £65,000’

    When Brian Flynn took out a £1,500 loan to buy his friend’s car four years ago, he had no idea it would one day cost him his family home.

  • Investors Heavily Search Advanced Micro Devices, Inc. (AMD): Here is What You Need to Know

    Advanced Micro (AMD) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

  • Alphabet (GOOG) is an Incredible Growth Stock: 3 Reasons Why

    Alphabet (GOOG) is well positioned to outperform the market, as it exhibits above-average growth in financials.

  • DXC Technology tumbles as investors fret over latest restructuring plan

    The latest attempt comes as a sale bid failed last year and exits of top executives and a slowdown due to high interest rates hampered efforts to pivot away from its declining legacy business of IT outsourcing services to cloud-based solutions. "DXC has been in a transition for multiple years and despite the best efforts of multiple leaders, one has to ask the question as to if this business can be fixed," analysts at RBC Capital Markets wrote in a client note. "New management is undertaking yet again another restructuring to streamline the business, which suggests that FY25 will be another transition year."

  • Russian court seizes millions of euros worth of German bank assets

    A Russian court has ordered that Deutsche Bank's and Commerzbank's assets, accounts, property and shares be seized in Russia as part of a lawsuit involving the German banks, court documents showed. The banks were among the guarantor lenders under a contract for the construction of a gas processing plant in Russia with Germany's Linde, which was terminated due to Western sanctions.The lawsuits were filed by St Petersburg-based RusChemAlliance, a joint venture 50% owned by Russian gas giant Gazpro

  • Sam Altman named "a genius master-class strategist" as OpenAI deals with Apple and iPhone outside of its Microsoft partnership

    Sam Altman has reportedly negotiated a new deal with Apple to bring ChatGPT to the iPhone. OpenAI's partnership with Microsoft grants it access to infinite computing and forever customers.

  • Dow finishes above 40,000 for first time as rally pauses in Europe

    The Dow scored its first-ever finish above 40,000 points Friday in a flourishing end to a week of records after a subdued session in Europe and a rally in some Asian markets.But European markets were hit Friday by a round of profit-taking.

  • Defensive Stocks to Consider Amid Jamie Dimon's Concern for a Large Market Correction

    Often asked for his economic opinion and outlook, JPMorgan Chase (JPM) CEO Jamie Dimon alluded to concerns of a broader economic slowdown and the possibility of a large stock market correction while speaking with Bloomberg on Thursday.

  • China unveils plans to revitalize its property market

    In new plans to revitalize its property sector, China is easing mortgage rules and encouraging local governments to buy unsold homes to develop more affordable housing. The move sent trade of China's Hang Seng Properties Index (^HSNP) climbing higher, as the rescue package comprises an urgent measure to prop up the country's suffering property market. Housing accounts for about a quarter of China's economy, and prices fell to their steepest levels in over a decade. Yahoo Finance's Seana Smith and Madison Mills break down China's plans and how they could affect global markets. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl

  • Is the Options Market Predicting a Spike in Lattice Semiconductor (LSCC) Stock?

    Investors need to pay close attention to Lattice Semiconductor (LSCC) stock based on the movements in the options market lately.

  • Tesla looking to use China data center in self-driving push: Rpt.

    Tesla (TSLA) has been trying advance its self-driving technology in China, but it needs to comply with local regulations. As part of its push, the company is looking to process data gathered in China at a Chinese data center in order to avoid running afoul of regulators. According to the report from Reuters, the company has also been trying to secure approval to transfer data outside of the country for processing. Yahoo Finance Autos Reporter Pras Subramanian explains why this is an important move for Tesla. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Stephanie Mikulich.

  • Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

    Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

  • Should Value Investors Buy Bayerische Motoren Werke (BAMXF) Stock?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • AI and Robotics ETF (AIQ) Hits New 52-Week High

    This AI and Robotics ETF hits a new 52-week high. Are more gains in store for this ETF?

  • GameStop stock tanks on move to issue shares, quarterly sales decline

    GameStop stock tanked on Friday morning after the company filed to sell stock and pre-announced that sales for the first quarter came in below Wall Street's estimates.