Market Overview

US stocks tumbled on Thursday and the ​Nasdaq posted its steepest daily drop since early June as a batch of high-profile earnings reports ignited fresh fears about the AI spending race. The Dow Jones Industrial Average rose 0.02%, while the S&P 500 fell 1.21% and the Nasdaq Composite declined 2.60%.

ETF market tone skewed defensive, with inverse and hedging vehicles broadly firmer as leveraged long products lagged. Flows reflected risk aversion across growth-linked exposures and support for duration-sensitive bond funds.

Top 5 US ETF Gainers

Tradr 2X Short COHR Daily ETF (COHQ) gained 25.81%. The vehicle seeks two times the inverse of laser and photonics manufacturer Coherent, and it advanced as the underlying exposure weakened intraday.

Tradr 2X Short AXTI Daily ETF (AXTQ) added 24.85%. The ETF seeks two times the inverse daily move of compound semiconductor wafer supplier AXT, tracking the underlying shares’ retreat during the session.

Tradr 2X Short AAOI Daily ETF (AAOZ) jumped 24.64%. The product provides two times inverse exposure to photonic chip company Applied Optoelectronics, and it rallied as the stock softened.

Tradr 2X Short LITE Daily ETF (LITZ) advanced 23.66%. Designed to deliver two times the inverse of optical networking components maker Lumentum, the ETF climbed as the shares softened.

Leverage Shares 2x Long SPOT Daily ETF (SPOG) rose 21.83%. The fund targets two times the daily return of music streaming platform Spotify, and it surged as the underlying shares advanced.

Top 5 US ETF Losers

Tradr 2X Long TTMI Daily ETF (TTMX) plunged 55.10%. The fund targets two times the daily return of printed circuit board manufacturer TTM Technologies, and it fell as the underlying shares retreated.

TTM Technologies reported earnings and revenue ahead of expectations while investor focus turned to higher debt tied to a pending acquisition.

Leverage Shares 2X Long FPS Daily ETF (FPSX) sank 43.05%. The fund seeks two times the daily move of Forgent Power Solutions, tracking the underlying shares’ pullback during the session.

Defiance Daily Target 2X Long MRNA ETF (MRNX) dropped 34.80%. The fund seeks two times the daily performance of mRNA vaccine developer Moderna, and it declined as the shares fell.

Leverage Shares 2X Long MTSI Daily ETF (MTSG) fell 31.83%. This product amplifies, by two times, daily moves in RF semiconductor manufacturer MACOM Technology Solutions and slumped alongside the stock’s pullback.

Corgi SIMO 2x Daily ETF (SIMX) lost 30.33%. Designed to deliver two times the daily performance of NAND flash controller designer Silicon Motion Technology, the ETF retreated as the underlying weakened.

Top 5 Equity Index ETFs

ProShares UltraPro Short QQQ (SQQQ) gained 8.55%. 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 5.75%. The fund seeks two times inverse exposure to the Nasdaq-100 and advanced as the benchmark fell.

Direxion Daily FTSE China Bear 3X Shares (YANG) rose 4.65%. The product targets three times the inverse daily return of the FTSE China 50, and it climbed as Chinese equities retreated.

ProShares UltraPro Short S&P500 ETF (SPXU) increased 3.57%. The fund seeks three times the inverse daily performance of the S&P 500 and gained as the broad index declined.

ProShares Short QQQ (PSQ) advanced 2.88%. The ETF provides one times inverse exposure to the Nasdaq-100 and moved higher as the benchmark softened.

Top 5 Commodity ETFs

ProShares UltraShort Silver (ZSL) surged 11.77%. The fund seeks two times inverse exposure to silver prices and increased as the metal declined.

Direxion Daily Gold Miners Index Bear 2X Shares (DUST) jumped 11.40%. The ETF delivers two times inverse exposure to the NYSE Arca Gold Miners Index, and it rose as gold mining equities eased.

DB Gold Short ETN (DGZ) climbed 7.41%. The note offers inverse exposure to gold bullion and advanced as gold slipped.

ProShares UltraShort Gold (GLL) gained 5.33%. The product targets two times inverse exposure to gold prices and increased as bullion weakened.

United States Oil Fund LP (USO) added 1.70%. The fund tracks front-month West Texas Intermediate crude oil futures, and the gain mirrored crude’s advance during the session.

Top 5 Industry ETFs

Direxion Daily Semiconductors Bear 3x Shares (SOXS) rallied 20.68%. The fund targets three times inverse daily performance of U.S. semiconductor equities and advanced as chip shares fell.

iShares U.S. Home Construction ETF (ITB) rose 5.22%. The fund concentrates on major U.S. homebuilders and related suppliers and moved higher with the home construction segment.

SPDR S&P Homebuilders ETF (XHB) increased 3.77%. The ETF focuses on homebuilding and home improvement companies and participated in the group’s advance.

Direxion Daily Real Estate Bull 3X Shares (DRN) gained 3.37%. The product targets three times the daily performance of U.S. real estate equities and benefited from the sector’s strength.

Consumer Staples Select Sector SPDR Fund (XLP) advanced 3.31%. The fund holds large-cap U.S. consumer staples companies and climbed alongside defensive shares.

Top 5 Bond ETFs

iShares 20+ Year Treasury Bond ETF (TLT) rose 1.87%. The fund holds U.S. Treasuries with more than 20 years to maturity and gained as long-dated yields eased.

SPDR Portfolio Long Term Treasury ETF (SPTL) added 1.76%. The fund invests in long-maturity U.S. Treasuries and advanced as duration rallied.

Vanguard Long-Term Corporate Bond ETF (VCLT) increased 1.48%. The ETF holds long-term investment-grade corporate bonds and moved higher with strength in long-duration credit.

SPDR Portfolio Long Term Corporate Bond ETF (SPLB) gained 1.44%. The fund focuses on long-dated U.S. investment-grade corporate bonds and rose as credit spreads remained supportive.

iShares 7-10 Year Treasury Bond ETF (IEF) advanced 1.07%. The ETF holds intermediate-term U.S. Treasuries and climbed as yields moved lower across the belly of the curve.

Conclusion

Inverse products dominated, with bearish single-stock vehicles tied to optical hardware among the session’s standouts, while semiconductor shorts also outperformed. Index hedges linked to the Nasdaq gained traction alongside strength in inverse precious metals products. Bond funds with longer duration advanced, adding a defensive counterweight to equity volatility. The session underscored pronounced dispersion between leveraged longs and their inverse counterparts across the complex.

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