Market Overview

For Sep 14–Sep 18, 2026, the Dow Jones Industrial Average fell 1.69%, the S&P 500 slipped 0.08%, and the Nasdaq Composite rose 0.72%.

ETF market breadth skewed defensive, with inverse equity and sector products among the week’s leaders while leveraged single-stock vehicles showed outsized swings.

Top 5 US ETF Gainers

Defiance Daily Target 2X Long MSTR ETF (MSTX) jumped 33.69%. Designed to deliver two times the daily performance of bitcoin treasury company MicroStrategy, the ETF climbed as the underlying shares advanced over the week.

MicroStrategy was part of a broader advance among crypto-exposed equities during the week.

T-Rex 2X Long MSTR Daily Target ETF (MSTU) gained 33.67%. This product amplifies, by two times, daily moves in MicroStrategy and rallied alongside the stock’s weekly upswing.

GraniteShares 2x Long CRWD Daily ETF (CRWL) advanced 29.33%. The fund targets two times the daily return of cybersecurity software provider CrowdStrike, and the move reflected the shares’ strength during the week.

BREAKWAVE TANKER SHIPPING ETF (BWET) rose 19.98%. The vehicle provides exposure to the tanker shipping segment, and the gain aligned with strength across that market during the week.

Defiance Daily Target 2X Long RIOT ETF (RIOX) added 19.90%. The product magnifies, by two times, daily moves in bitcoin mining company Riot Platforms, and it rallied on the same upward impulse.

Options flow pointed to bullish positioning in Riot Platforms as the shares advanced.

Top 5 US ETF Losers

Defiance Daily Target 2X Short MSTR ETF (SMST) slumped 35.78%. The vehicle seeks two times the inverse of MicroStrategy, and it declined as the underlying exposure firmed during the week.

T-Rex 2X Inverse MSTR Daily Target ETF (MSTZ) dropped 35.44%. The fund provides two times inverse exposure to MicroStrategy, and the loss followed the stock’s weekly advance.

GraniteShares 2x Short COIN Daily ETF (CONI) tumbled 27.68%. It targets two times the inverse of cryptocurrency exchange Coinbase, and it fell as the underlying shares strengthened over the week.

Coinbase gained after a broker highlighted regulatory relief that could broaden its offerings.

T-REX 2X Long NFLX Daily Target ETF (NFLU) shed 14.52%. The ETF seeks two times the daily performance of streaming media company Netflix, and it retreated as the stock weakened during the week.

Direxion Daily NFLX Bull 2X Shares (NFXL) declined 14.49%. Designed to deliver two times the daily return of Netflix, the fund slid with the underlying pullback.

Top 5 Equity Index ETFs

ProShares UltraPro Short Dow30 ETF (SDOW) rose 5.31%. The fund targets three times inverse exposure to the Dow Jones Industrial Average, and it gained as the blue-chip benchmark fell for the week.

Direxion Daily Small Cap Bear 3X Shares (TZA) advanced 4.52%. It seeks three times inverse performance of the Russell 2000, climbing as small-cap equities softened.

ProShares UltraShort Dow30 (DXD) added 3.50%. The ETF provides two times inverse exposure to the Dow Jones Industrial Average and rose as the index declined.

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) gained 3.28%. The fund holds China A-share small-cap equities tied to the CSI 500 universe, and the advance mirrored the segment’s weekly improvement.

ProShares UltraShort Russell 2000 (TWM) increased 3.06%. The vehicle targets two times inverse exposure to the Russell 2000 and rose as small caps eased.

Top 5 Commodity ETFs

ProShares Ultra Silver (AGQ) rose 6.11%. The fund seeks two times daily exposure to silver prices, and the gain reflected the metal’s weekly rebound.

Gold and silver rebounded during the week even as oil softened.

iShares Silver Trust (SLV) advanced 3.11%. The trust holds physical silver bullion, and its move was consistent with the metal’s strength across the period.

ProShares Ultra Bloomberg Crude Oil (UCO) climbed 2.89%. The fund targets two times daily performance of crude oil futures and gained over the week.

Direxion Daily Gold Miners Index Bear 2X Shares (DUST) increased 2.71%. The product delivers two times inverse exposure to a basket of global gold-mining equities and advanced as the miners lagged.

PROSHARES ULTRASHORT ENERGY (DUG) added 2.20%. The ETF seeks two times inverse returns of U.S. energy equities and rose as the sector softened.

Top 5 Industry ETFs

Direxion Daily Financial Bear 3X ETF (FAZ) jumped 7.39%. The fund targets three times inverse exposure to U.S. financials and advanced as bank and insurer shares eased during the week.

Direxion Daily Real Estate Bear 3X Shares (DRV) climbed 6.31%. The ETF seeks three times inverse performance of U.S. real estate equities and rose as property-linked names weakened.

ProShares UltraShort Financials (SKF) gained 4.85%. Designed to deliver two times inverse exposure to U.S. financials, it advanced amid sector softness.

ProShares UltraShort Real Estate (SRS) added 4.36%. The fund provides two times inverse exposure to U.S. real estate equities and rose alongside broader pressure in the group.

PROSHARES ULTRASHORT MATERIALS (SMN) increased 4.31%. The vehicle targets two times inverse returns of U.S. materials equities and gained as the segment slipped.

Top 5 Bond ETFs

SPDR Portfolio Long Term Corporate Bond ETF (SPLB) rose 0.81%. The fund holds long-duration investment-grade corporate bonds, and the week’s gain reflected firmer prices across that segment.

Vanguard Long-Term Corporate Bond ETF (VCLT) advanced 0.76%. It concentrates on long-term investment-grade corporates and moved higher in step with the category.

iShares 20+ Year Treasury Bond ETF (TLT) added 0.47%. The ETF invests in long-maturity U.S. Treasuries, and its modest advance mirrored strength in duration-sensitive government debt.

iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) gained 0.36%. The fund holds dollar-denominated investment-grade corporate bonds, and it posted a small weekly increase.

Invesco Senior Loan ETF (BKLN) increased 0.34%. This vehicle holds floating-rate senior loans, and it edged higher during the week.

Conclusion

ETF flows reflected a cautious tone, with inverse equity and sector funds leading while leveraged crypto-linked single-stock products posted the sharpest swings and their bearish counterparts slumped. Commodity exposure was mixed but silver-focused vehicles gained, and long-duration bond funds ended modestly higher. The week underscored pronounced dispersion between leveraged longs and inverse products tied to the same underlyings, highlighting the leverage-driven volatility evident across the products above.