5 Inverse/Leveraged ETFs That Gained At Least 10% Last Week

In any case, September is historically the worst month of the year for stocks. According to moneychimp.com, a consensus carried out from 1950 to 2019 has revealed that September ended up offering positive returns in 32 years and negative returns in 38 years, with an average return of negative 0.57%, which is worse than any month (read: ETF Strategies to Tackle Volatile September).

On the economic news front, the U.S. economy added 1.371 million jobs in August 2020, decreasing from a downwardly revised 1.734 million in the previous month, and slightly below market forecasts of 1.4 million. Applications for U.S. state unemployment benefits held steady, a sign that said extensive job losses are continuing.

Initial jobless claims in regular state programs were unchanged at 884,000 in the week ended Sep 5, Labor Department data showed. The median estimates in a Bloomberg survey of economists indicted 850,000 initial claims in the latest week (read: Gold ETFs to Get Back Their Glitter As Volatility Flares Up?).

However, manufacturing activities look to be in decent shape as after clocking the highest reading since March 2019 in July, U.S. manufacturing activity accelerated to a nearly two-year high in August due to solid new orders (read: August U.S. Manufacturing Best in 2 Years: 5 Solid ETF Areas).

Against this backdrop, below we highlight a few inverse/leveraged ETFs that topped the market rout successfully last week.

ETFs in Focus

Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) – Up 20.5%

The underlying S&P Oil & Gas Exploration & Production Select Industry Index is designed to measure the performance of a sub industry or group of sub-industries determined based on the Global Industry Classification Standards (GICS). The expense ratio of the fund is 1.07%.

MicroSectors FANG+ Index -3X Inverse Leveraged ETN FNGD – Up 14.4%

The underlying NYSE FANG+ Index includes

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