Market Overview

Thursday Oct 29, the Dow Jones fell 0.25%, the S&P 500 slipped 0.30%, and the Nasdaq declined 1.38%.

ETF market tone skewed defensive, with inverse growth-linked vehicles firmer while leveraged single-name products saw pronounced moves.

Top 5 US ETF Gainers

T-REX 2X LONG PURR DAILY TARGET ETF (KATT) surged 47.35%. The fund targets two times the daily return of digital asset platform Hyperliquid Strategies’ PURR token, and it rallied as the underlying exposure advanced.

Hyperliquid Strategies reported annual results, signaled ongoing PURR purchases by HypeStrat DAT, and increased its buyback program.

Defiance Daily Target 2X Long PURR ETF (PUR) jumped 47.11%. The ETF seeks two times the daily move of Hyperliquid Strategies’ PURR token, tracking the token’s advance during the session.

21Shares 2x Long HYPE ETF (TXXH) jumped 29.93%. The fund targets two times the daily performance of digital asset HYPE, and it rallied alongside the token’s upswing.

OPPORTUNISTIC TRADER ETF (WZRD) added 18.89%. The vehicle is actively managed rather than linked to a single company, and it advanced as its portfolio positioning benefited from the day’s moves.

Tradr 2X Short IREN Daily ETF (IREZ) gained 17.63%. The vehicle seeks two times the inverse of bitcoin mining and AI infrastructure company IREN, and it advanced as the underlying exposure weakened intraday.

Top 5 US ETF Losers

GraniteShares 2x Long NOW Daily ETF (NOWL) tumbled 53.61%. The fund targets two times the daily return of enterprise workflow software provider ServiceNow, and it sank as the underlying shares retreated.

ServiceNow’s quarterly update showed profit pressure and the stock fell amid heightened concerns about software demand.

Corgi NOW 2x Daily ETF (NOWX) slumped 52.42%. This product amplifies, by two times, daily moves in ServiceNow and fell alongside the company’s pullback.

GraniteShares 2X Long MRVL Daily ETF (MVLL) dropped 26.50%. Designed to deliver two times the daily performance of semiconductor company Marvell Technology, the ETF slid as the shares weakened.

Direxion Daily MRVL Bull 2X ETF (MRVU) declined 26.44%. The fund seeks two times the daily move of Marvell Technology, tracking the underlying shares’ retreat during the session.

Corgi GOOGL 2x Daily ETF (GOGL) sank 25.87%. The product magnifies, by two times, daily moves in search and AI company Alphabet, and it fell as the stock slid.

Alphabet’s quarterly earnings and revenue missed analysts’ targets, pressuring the shares.

Top 5 Equity Index ETFs

ProShares UltraPro Short QQQ (SQQQ) advanced 4.27%. The ETF targets three times inverse daily exposure to the Nasdaq-100, and it rose as the index weakened.

ProShares UltraShort QQQ (QID) gained 2.92%. The fund seeks two times inverse daily performance of the Nasdaq-100, benefiting from the benchmark’s decline.

Direxion Daily Small Cap Bull 3x Shares (TNA) added 2.89%. The vehicle targets three times the daily performance of the Russell 2000 small-cap index, and it climbed with the gauge’s strength.

Direxion Daily FTSE China Bull 3X Shares (YINN) rose 2.16%. The fund aims for three times the daily move of the FTSE China equity benchmark, and it advanced with the index’s gains.

ProShares Ultra Russell 2000 (UWM) increased 1.75%. The ETF seeks two times the daily performance of the Russell 2000, echoing the small-cap index’s intraday advance.

Top 5 Commodity ETFs

ProShares UltraShort Silver (ZSL) climbed 7.57%. The fund provides two times inverse exposure to silver prices, and it rose as the metal softened.

Direxion Daily Gold Miners Index Bear 2X Shares (DUST) rallied 6.01%. The ETF seeks two times inverse daily performance of the NYSE Arca Gold Miners Index, benefiting as gold mining shares pulled back.

ProShares UltraShort Gold (GLL) advanced 2.69%. The product targets two times inverse exposure to gold, and it gained as bullion eased.

DB Gold Double Short Exchange Traded Notes (DZZ) added 2.14%. The note provides two times inverse exposure to gold prices, and it increased as the commodity slipped.

United States Oil Fund LP (USO) rose 0.97%. The fund targets front-month West Texas Intermediate crude futures, and the uptick reflected intraday moves in oil.

Top 5 Industry ETFs

Direxion Daily Real Estate Bull 3X Shares (DRN) jumped 6.61%. The fund targets three times the daily performance of U.S. real estate equities, and it advanced as the sector firmed.

Direxion Daily Semiconductors Bear 3x Shares (SOXS) rose 4.80%. The product seeks three times inverse daily exposure to semiconductor equities, and it gained as chip stocks weakened.

ProShares Ultra Real Estate (URE) climbed 4.65%. The ETF aims for two times the daily return of U.S. real estate equities and rallied with the group’s strength.

Direxion Daily Financial Bull 3X ETF (FAS) increased 4.38%. The fund targets three times the daily performance of U.S. financial stocks, and it advanced as the sector strengthened.

iShares U.S. Home Construction ETF (ITB) gained 3.56%. The fund concentrates on U.S. homebuilders and related suppliers, and the rise tracked strength across the home construction complex.

Top 5 Bond ETFs

Invesco Emerging Markets Sovereign Debt ETF (PCY) added 0.74%. The fund holds U.S. dollar–denominated sovereign bonds from emerging markets, and the move reflected steadier conditions in the segment.

iShares 20+ Year Treasury Bond ETF (TLT) rose 0.62%. The ETF holds U.S. Treasuries maturing in 20 years or more, and it gained as long-duration yields eased.

SPDR Portfolio Long Term Treasury ETF (SPTL) increased 0.57%. The fund invests in long-dated U.S. Treasury securities, and it advanced alongside strength in duration-sensitive bonds.

iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) gained 0.50%. The fund tracks U.S. dollar sovereign and quasi-sovereign bonds from emerging markets, and it inched higher with the asset class.

iShares 7-10 Year Treasury Bond ETF (IEF) added 0.44%. The fund focuses on intermediate-term U.S. Treasuries, and it advanced with modest gains across the belly of the curve.

Conclusion

Inverse technology and commodity-linked products outperformed while leveraged longs tied to single names suffered steep declines, highlighting pronounced dispersion. Real estate bulls led cyclical sector moves alongside gains in small-cap vehicles, as bond funds posted modest advances across the curve. The day’s lineup underscored leverage-driven volatility, with paired exposures such as semiconductor inverses firming as related long, single-stock products weakened.

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