On Monday, the three major U.S. stock indices all closed higher. The Dow Jones Industrial Average rose 0.18%, the Nasdaq Composite gained 1.05%, and the S&P 500 added 0.66%, with the Nasdaq setting a new closing high. Most large-cap technology stocks advanced, with Tesla up 2.20%, Nvidia up 2.12%, Meta up 1.90%, Microsoft up 1.48%, and Google up 0.86%, while Apple fell 0.24% and Amazon slipped 0.05%.

The biggest highlight of the day came from Brazil 鈥?the first-round results of the Brazilian presidential election were released, with market-friendly candidate Bolsonaro unexpectedly leading, triggering a broad surge in Brazilian assets and causing leveraged ETFs that go long on Brazil to dominate the list of top U.S. ETF gainers.

Top 5 U.S. ETF Gainers

On the evening of October 4, the first-round vote count of Brazil's presidential election was released. Fl谩vio Bolsonaro, son of former President Jair Bolsonaro and candidate of the Liberal Party, unexpectedly led with approximately 47% of the vote, while incumbent President Lula came in second with about 45%. The two will face off in a second round on October 25. The market views Bolsonaro as more market-friendly than leftist President Lula, and his better-than-expected first-round performance drove a broad rally in Brazilian stocks and currency. Brazil's benchmark Bovespa index surged more than 9% at one point, marking its largest gain since 2022, while the Brazilian real jumped over 5%.

The 3x Long Brazil ETN surged 37.52% with a trading volume of $204,600. The 2x Long NU ETF rose 26.74% with a trading volume of $1.22 million. The 2x Long MSCI Brazil ETF gained 25.34% with a trading volume of $1.10 million. The Corgi 2x Long Brazil ETF climbed 24.90% with a trading volume of $5,600. The 2x Long Brazil ETF advanced 24.81% with a trading volume of $43.43 million.

Top 5 U.S. ETF Decliners

The flip side of the Brazilian asset surge was a collective plunge in ETFs that short Brazil, which dominated the top three spots on the decliners list. The 3x Short Brazil ETN dropped 37.47% with a trading volume of $88,400. The 2x Long VELO ETF fell 29.39% with a trading volume of $1.19 million. The 2x Short MSCI Brazil ETF declined 25.14% with a trading volume of $727,600. The 2x Short CBRS ETF sank 18.07% with a trading volume of $11.83 million. The 2x Long UMC ETF slid 17.87% with a trading volume of $256,300.

Top 5 U.S. Broad Index ETF Gainers

The Brazil election rally also dominated the broad index ETF rankings, with the Brazil ETF leading by a wide margin with a 12.54% gain, followed by emerging markets and China-related ETFs. The Brazil ETF (EWZ.US) rose 12.54% with a trading volume of $8.06 billion. The 3x Long Emerging Markets ETF gained 4.81% with a trading volume of $4.34 million. The 2x Long FTSE China ETF climbed 3.79% with a trading volume of $17,500. The China Overseas Internet ETF (KWEB.US) advanced 2.93% with a trading volume of $615 million. The 3x Long Nasdaq ETF rose 2.60% with a trading volume of $2.96 billion.

Top 5 Sector ETF Gainers

Sector groups broadly rose, led by oil services, materials, financials, and energy sectors, while metal and mining ETFs also strengthened. The Oil Services Index ETF gained 3.14% with a trading volume of $136 million. The 2x Long Basic Materials ETF rose 2.44% with a trading volume of $208,600. The 3x Long Financials ETF climbed 2.33% with a trading volume of $58.88 million. The 2x Long Energy ETF (ERX.US) advanced 1.99% with a trading volume of $16.66 million. The Metals and Mining ETF rose 1.91% with a trading volume of $171 million.

Top 5 Commodity ETF Gainers

Commodity sectors broadly rose, led by oil services and energy-related ETFs. International oil prices came under pressure as OPEC+ decided at its October 4 meeting to maintain production quotas unchanged for November, compounded by the G7's announcement of releasing strategic energy reserves and Middle East crude exports recovering to pre-war levels. WTI crude oil futures fell 1.73% to $89.53 per barrel, while Brent crude oil futures dropped 1.12% to $90.09 per barrel. Spot gold edged up 0.53% to $4,184.30 per ounce. The Oil Services Index ETF (OIH.US) rose 3.14% with a trading volume of $136 million. The 2x Short Gold ETN gained 2.56% with a trading volume of $400. The Short Gold ETN rose 2.04% with a trading volume of $200. The Invesco Energy Momentum ETF climbed 1.90% with a trading volume of $19.43 million. The 2x Long Energy ETF advanced 1.75% with a trading volume of $3.42 million.

Top 5 Bond ETF Gainers

Bond ETFs experienced relatively small fluctuations, collectively edging higher on Monday, with tax-exempt municipal bonds and emerging market local currency bonds leading the gains. The 10-year U.S. Treasury yield edged down 0.08% to 5.27%, easing pressure on the bond market. The Invesco National AMT-Free Municipal Bond ETF rose 0.61% with a trading volume of $110 million. The Short 20+ Year Treasury ETF gained 0.52% with a trading volume of $7.01 million. The Emerging Markets Local Currency Government Bond ETF rose 0.40% with a trading volume of $14.18 million. The SPDR Emerging Markets Local Currency Bond ETF gained 0.39% with a trading volume of $8.31 million. The SPDR International Government Inflation-Protected Bond ETF rose 0.32% with a trading volume of $2.12 million.