Market Overview
On Monday Nov 02, the Dow Jones Industrial Average gained 0.41%, the S&P 500 slipped 0.51%, and the Nasdaq Composite declined 1.07%.
ETF market breadth was defensive, with inverse equity and commodity-linked products broadly firmer as leveraged long technology exposures eased.
Top 5 US ETF Gainers
Tradr 2X Short LITE Daily ETF (LITZ) surged 38.03%. The vehicle seeks two times the inverse of optical components manufacturer Lumentum Holdings, and it advanced as the underlying exposure weakened intraday.
Marvell Technology said it plans an all-stock acquisition of Lumentum Holdings, and reports indicated Lumentum shares declined following the announcement.
Tradr 2X Short AXTI Daily ETF (AXTQ) gained 24.25%. The fund provides two times inverse exposure to compound semiconductor substrate manufacturer AXT, and it climbed as the underlying shares softened.
Tradr 2X ShortCBRS Daily ETF (CBRZ) rose 23.64%. The vehicle seeks two times inverse exposure to CBRS, and it advanced as the referenced exposure weakened during the session.
Defiance Daily Target 2X Short ASTS ETF (ASTN) increased 21.56%. The product magnifies, by two times, daily moves in satellite-to-cellular communications company AST SpaceMobile, and it gained on the same downward impulse.
Tradr 2X Short AAOI Daily ETF (AAOZ) added 19.48%. The fund targets two times inverse exposure to photonic chip company Applied Optoelectronics, and it advanced as the underlying shares softened.
Top 5 US ETF Losers
Leverage Shares 2X Long LITE Daily ETF (LITG) fell 38.01%. This product amplifies, by two times, daily moves in Lumentum Holdings and declined alongside the stock’s pullback.
T-REX 2X Long LITE Daily Target ETF (LITU) dropped 37.97%. Designed to deliver two times the daily performance of Lumentum Holdings, the ETF slid as the underlying shares retreated.
Tradr 2X Long LITE Daily ETF (LITX) decreased 37.53%. The fund seeks two times the daily move of Lumentum Holdings, tracking the underlying shares’ retreat during the session.
Corgi LITE 2x Daily ETF (LITC) declined 37.45%. The product targets two times daily exposure to Lumentum Holdings and moved lower as the stock weakened.
T-REX 2X LONG AXTI DAILY TARGET ETF (AXTU) sank 26.68%. The vehicle targets two times the daily return of AXT, and it slid as the underlying shares retreated.
Top 5 Equity Index ETFs
ProShares UltraPro Short QQQ (SQQQ) gained 4.11%. The ETF targets three times the inverse daily performance of the Nasdaq-100, and it rose as the index weakened.
ProShares UltraShort QQQ (QID) added 2.72%. The product provides two times inverse exposure to the Nasdaq-100 and advanced in step with the benchmark’s decline.
KraneShares CSI China Internet ETF (KWEB) increased 2.68%. The fund holds major Chinese internet platforms via the CSI China Internet Index, and the gain mirrored the benchmark’s advance during the session.
Invesco Golden Dragon China ETF (PGJ) rose 2.47%. The vehicle focuses on U.S.-listed Chinese companies represented in the NASDAQ Golden Dragon China Index and participated in the day’s strength.
Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) gained 1.99%. The ETF holds small-cap China A-shares aligned with the CSI 500, and it advanced alongside the index.
Top 5 Commodity ETFs
ProShares UltraShort Bloomberg Crude Oil (SCO) jumped 10.35%. The fund delivers two times inverse exposure to crude oil futures linked to the Bloomberg index, and it rallied as oil prices declined.
U.S. market commentary indicated crude oil prices fell, easing inflation concerns.
DB Gold Short ETN (DGZ) climbed 10.00%. The note offers inverse exposure to gold and advanced as bullion prices eased.
ProShares UltraShort Energy (DUG) rose 7.97%. The product seeks two times inverse exposure to U.S. energy equities and gained as the sector softened.
Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) advanced 5.14%. The ETF targets two times the daily performance of large gold miners and rallied alongside the group’s upswing.
ProShares Ultra Silver (AGQ) increased 4.55%. The fund seeks two times the daily move of silver prices, and it climbed as the metal strengthened.
Top 5 Industry ETFs
Direxion Daily Semiconductors Bear 3x Shares (SOXS) surged 11.54%. The ETF delivers three times inverse exposure to semiconductor manufacturers and rose as chip stocks weakened.
Direxion Daily Energy Bear 2X ETF (ERY) jumped 7.96%. The fund provides two times inverse exposure to U.S. energy producers and advanced as the sector declined.
Direxion Daily Financial Bull 3X ETF (FAS) gained 5.11%. Designed to deliver three times the daily performance of U.S. financials, the ETF moved higher with the sector’s advance.
iShares U.S. Home Construction ETF (ITB) rose 4.83%. The vehicle concentrates on homebuilders and building products companies and participated in the day’s sector gains.
Invesco Solar ETF (TAN) added 4.65%. The fund focuses on solar energy equipment makers and developers and rallied in line with industry strength.
Top 5 Bond ETFs
SPDR ICE Preferred Securities ETF (PSK) rose 0.58%. The fund holds U.S. preferred securities in the ICE index, and the gain echoed modest strength in the asset class.
First Trust Emerging Markets Local Currency Bond ETF (FEMB) increased 0.50%. The ETF invests in emerging-market local-currency bonds and advanced as the segment firmed.
VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) gained 0.41%. The fund holds emerging-market local sovereign debt and edged higher with the J.P. Morgan benchmark.
Invesco Preferred ETF (PGX) added 0.30%. The vehicle tracks preferred securities and nudged higher amid steady demand.
iShares 20+ Year Treasury Bond ETF (TLT) rose 0.29%. The fund holds long-duration U.S. Treasuries and advanced as longer maturities firmed.
Conclusion
A defensive tone prevailed across ETFs, with inverse single-stock products tied to Lumentum and bearish sector vehicles outperforming while their leveraged long counterparts lagged. Cross-asset leadership skewed toward oil and energy inverses alongside select precious metals exposures, and dispersion remained pronounced between leveraged longs and inverse funds linked to the same underlyings.
Read More: As Tech Stocks Turn Volatile, Why Are Investors Turning to Dividend ETFs?
