Market Overview

From Aug 31 to Sep 04, 2026, the Dow Jones Industrial Average slipped 0.27%, the S&P 500 added 0.09%, and the Nasdaq Composite gained 0.40%.

ETF market breadth was constructive, with leveraged equity and commodity-linked products broadly firmer while inverse exposures lagged. Flows centered on single-stock strategies and energy proxies as dispersion widened across leveraged structures.

Top 5 US ETF Gainers

T-REX 2X Long HOOD Daily Target ETF (ROBN) surged 34.01%. Designed to deliver two times the weekly (WTD) performance of retail brokerage Robinhood, the fund advanced as the underlying shares climbed.

Defiance Daily Target 2X Long RIOT ETF (RIOX) added 28.49%. The ETF seeks two times the weekly move of bitcoin mining company Riot Platforms, and it jumped in step with the stock's advance.

GraniteShares 2X Long DELL Daily ETF (DLLL) increased 27.77%. The product magnifies, by two times, daily moves in computer hardware and services company Dell Technologies, and it rallied alongside the underlying upswing.

T-Rex 2X Long MSTR Daily Target ETF (MSTU) gained 21.33%. The fund targets two times the weekly (WTD) return of bitcoin treasury company MicroStrategy, and it climbed as the shares advanced.

MicroStrategy featured prominently on a most-active list and was cited with a favorable rating during the week.

Defiance Daily Target 2X Long MSTR ETF (MSTX) climbed 21.05%. This product amplifies, by two times, daily moves in MicroStrategy and it rose on the same upward impulse.

Top 5 US ETF Losers

Defiance Daily Target 2X Short MSTR ETF (SMST) slid 29.85%. The vehicle seeks two times the inverse of MicroStrategy, and it retreated as the underlying exposure firmed during the week.

T-Rex 2X Inverse MSTR Daily Target ETF (MSTZ) declined 29.72%. The fund provides two times inverse exposure to MicroStrategy, and it dropped as the shares advanced.

GraniteShares 2x Long PLTR Daily ETF (PTIR) decreased 13.68%. The ETF seeks two times the weekly move of data analytics company Palantir, and it softened alongside the stock's retreat.

Palantir Technologies was noted to have moved lower during the week.

Direxion Daily PLTR Bull 2X Shares (PLTU) shed 13.58%. Designed to deliver two times daily performance of Palantir, the product sank as the stock pulled back.

Teucrium 2x Daily Wheat ETF (WXET) lost 12.74%. The fund targets two times the daily change in wheat futures prices and slid as the grain market eased over the week.

Top 5 Equity Index ETFs

Direxion Daily MSCI Emerging Markets Bull 3X Shares (EDC) gained 6.90%. The ETF targets three times the weekly performance of the MSCI Emerging Markets Index, and it benefited from the index's weekly strength.

iShares MSCI Brazil ETF (EWZ) advanced 6.50%. The fund tracks large- and mid-cap Brazilian equities, and the gain mirrored the MSCI Brazil benchmark's advance during the week.

iShares MSCI South Korea ETF (EWY) climbed 4.81%. The vehicle focuses on South Korean equities within the MSCI Korea index and participated in the week's regional strength.

iShares MSCI Taiwan ETF (EWT) added 3.97%. The fund concentrates on Taiwanese large- and mid-cap stocks represented in MSCI Taiwan and moved in line with the index's gain.

Direxion Daily FTSE China Bull 3X Shares (YINN) increased 3.09%. This product seeks three times the weekly performance of the FTSE China benchmark and advanced as Chinese equities firmed.

Top 5 Commodity ETFs

ProShares Ultra Bloomberg Crude Oil (UCO) jumped 11.09%. The fund seeks two times the daily return of the Bloomberg crude oil index and rallied as oil prices strengthened.

Oil saw increased hedge fund long positioning amid renewed geopolitical tensions.

United States Oil Fund LP (USO) gained 9.45%. The ETF holds front-month West Texas Intermediate futures and climbed alongside crude's weekly advance.

ProShares Ultra Energy (DIG) advanced 4.26%. The vehicle targets two times the daily performance of U.S. energy equities and benefited as the sector strengthened.

DB Gold Short ETN (DGZ) increased 3.21%. The note provides inverse exposure to gold prices and added as bullion softened during the week.

DB Gold Double Long Exchange Traded Notes (DGP) climbed 2.72%. The note delivers two times long exposure to gold and increased alongside bullion's move.

Top 5 Industry ETFs

Direxion Daily Semiconductors Bull 3x Shares (SOXL) rallied 5.33%. The ETF targets three times the weekly performance of U.S. semiconductor manufacturers and moved higher with the chip cohort.

Direxion Daily Energy Bull 2x Shares (ERX) gained 4.49%. The product aims for two times daily returns of U.S. energy equities and advanced as oil-linked shares strengthened.

Direxion Daily Real Estate Bear 3X Shares (DRV) added 3.75%. The fund provides three times inverse exposure to U.S. real estate equities and increased as the property sector weakened.

Invesco DB Commodity Index Tracking Fund (DBC) increased 3.61%. The fund offers broad exposure to a diversified commodity futures basket and advanced with the complex.

VanEck Agribusiness ETF (MOO) climbed 3.34%. The ETF invests in global agriculture input and equipment companies and participated in the group's weekly strength.

Top 5 Bond ETFs

First Trust Emerging Markets Local Currency Bond ETF (FEMB) increased 0.95%. The fund invests in local-currency emerging market sovereign bonds and benefited as the segment improved.

iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) added 0.63%. The ETF tracks a basket of local-currency emerging market debt and edged higher in step with the index.

SPDR Bloomberg Convertible Securities ETF (CWB) gained 0.48%. The fund holds U.S. convertible bonds and mirrored the category's modest advance.

iShares Convertible Bond ETF (ICVT) climbed 0.46%. The product targets U.S. convertible bonds and matched the space's weekly tone.

Invesco Senior Loan ETF (BKLN) added 0.44%. The ETF invests in floating-rate senior loans and edged higher with leveraged loan benchmarks.

Conclusion

A risk-on tone defined ETF trading this week, with leveraged single-stock products tied to brokerage, crypto-adjacent equities, and select technology names leading gains while inverse counterparts weakened. Cross-asset leadership skewed toward energy and emerging markets, and commodity-linked funds also participated as oil strength underpinned sector vehicles. The week showcased notable dispersion between leveraged longs and inverse strategies referencing the same underlyings, highlighting the impact of amplification on weekly outcomes across the products covered above.