Leveraged Equities ETFs

Most of these ETFs seek to increase the exposure and impact from the underlying index or investments in the ETF. For example, the leveraged ETF may attempt to double, triple, or even quadruple the return of an index on a daily basis. Leveraged ETFs are typically used by investors who are using a short-term trading strategy. We view inverse or leveraged ETF categories as simply suited for aggressive investors only who are willing to accept the exaggerated returns offered by these particular ETFs and are prone to more active portfolio management. We see limited appeal for long-term investors.

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Fund Symbol/Name	Last	Open	High	Low	52-Wk Hi	52-Wk Lo	Day Chg	YTD Chg	12-Mo Chg	AUM	Exp. Ratio	SMART Grade
TQQQ ProShares UltraPro QQQ	127.53	128.66	129.19	125.41	131.93	32.27	-0.37 (-0.29%)	47.35%	125.28%	6.98B	0.95%	A Strong Buy
QLD ProShares Ultra QQQ	177.60	178.62	179.07	175.66	181.48	68.03	-0.33 (-0.19%)	45.72%	95.40%	3.07B	0.95%	A Strong Buy
ROM ProShares Ultra Technology	220.64	221.64	222.34	219.02	227.69	82.01	-0.83 (-0.37%)	38.92%	93.97%	598.27M	0.95%	A Strong Buy
FNGU MicroSectors FANG Index 3X Leveraged ETNs due January 8, 2038	151.25	152.98	153.50	147.50	162.57	23.01	-0.95 (-0.62%)	152.88%	389.64%	484.00M	0.95%	A Strong Buy
FRLG Large Cap Growth Index-Linked Exchange Traded Notes due 2028	185.70	185.70	185.70	185.70	187.90	73.00	-0.75 (-0.40%)	28.44%	63.50%	399.27M	0.65%	A Strong Buy
FLGE Credit Suisse FI Large Cap Growth Enhanced ETN	428.51	428.43	428.51	428.43	434.10	160.00	-1.89 (-0.44%)	28.58%	63.52%	280.63M	0.85%	A Strong Buy
FBGX UBS AG FI Enhanced Large Cap Growth ETN	432.03	430.80	432.50	429.44	437.21	147.31	-1.71 (-0.39%)	29.63%	64.95%	153.37M	0.85%	A Strong Buy
FNGO MicroSectors FANG Index 2X Leveraged ETNs due January 8, 2038	117.01	116.86	117.93	115.41	122.09	32.54	-0.69 (-0.59%)	113.35%	236.87%	117.01M	0.95%	A Strong Buy
RXL ProShares Ultra Health Care	131.58	132.68	132.68	131.58	134.90	63.45	-0.85 (-0.64%)	3.60%	35.43%	112.60M	0.95%	A Strong Buy
USD ProShares Ultra Semiconductors	69.96	70.75	71.41	69.69	73.41	25.62	+0.25 (0.36%)	13.70%	77.47%	85.43M	0.95%	A Strong Buy
UBOT Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 3X Shares	155.90	156.64	157.62	155.79	159.35	30.10	-0.98 (-0.62%)	18.83%	97.02%	49.39M	1.29%	A Strong Buy
RETL Direxion Daily Retail Bull 3X Shares ETF	246.30	242.51	247.07	238.51	292.55	40.30	+4.80 (1.99%)	7.58%	41.55%	37.39M	0.99%	A Strong Buy
PPLC PortfolioPlus S&P 500 ETF	46.24	46.21	46.26	46.15	47.62	26.08	-0.04 (-0.09%)	4.50%	21.86%	25.45M	0.36%	A Strong Buy
UCC ProShares Ultra Consumer Services	139.15	139.15	139.15	139.15	139.19	53.53	-0.04 (-0.03%)	17.38%	36.79%	24.36M	0.95%	A Strong Buy
UGE ProShares Ultra Consumer Goods	57.37	57.58	57.58	57.09	58.51	24.40	-0.02 (-0.03%)	8.35%	32.12%	10.04M	0.95%	A Strong Buy
XCOM ProShares Ultra Communication Services Select Sector	61.82	61.78	61.82	61.78	63.10	29.02	-0.09 (-0.15%)	12.62%	38.30%	3.10M	0.95%	A Strong Buy
SSO ProShares Ultra S&P500	148.54	148.15	149.09	147.60	166.50	64.83	-0.01 (-0.01%)	-1.28%	26.73%	2.79B	0.90%	B Buy
TECL Direxion Technology Bull 3X Shares	294.55	295.69	297.00	289.77	335.53	74.15	-0.60 (-0.20%)	22.13%	99.61%	1.73B	1.08%	B Buy
CURE Direxion Daily Healthcare Bull 3X Shares	65.43	65.71	66.27	64.84	80.51	23.55	-0.52 (-0.79%)	-10.81%	33.10%	141.69M	1.08%	B Buy
UYM ProShares Ultra Basic Materials	56.47	55.97	56.48	55.97	63.75	21.42	+0.25 (0.44%)	-9.72%	11.20%	35.18M	0.95%	B Buy
SPUU Direxion Daily S&P 500 Bull 2X Shares	65.25	65.20	65.46	65.11	73.22	28.74	-0.07 (-0.11%)	-1.25%	25.31%	18.51M	0.64%	B Buy
UXI ProShares Ultra Industrials	75.32	74.64	75.91	74.64	93.73	30.64	+0.09 (0.12%)	-12.93%	6.37%	16.92M	0.95%	B Buy
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	37.60	37.66	37.84	37.20	41.29	7.52	-0.06 (-0.16%)	6.88%	35.20%	13.17M	0.98%	B Buy
MJO MicroSectors Cannabis 2X Leveraged ETNs	53.57	53.86	53.86	53.57	59.15	21.65	-0.59 (-1.09%)	3.90%	63.82%	10.71M	0.95%	B Buy
PPSC PortfolioPlus S&P Small Cap ETF	32.31	32.31	32.31	32.31	39.88	17.67	-0.08 (-0.25%)	-16.43%	-2.24%	6.48M	0.42%	B Buy
TAWK Direxion Daily Communication Services Index Bull 3X Shares	41.23	41.28	41.63	41.22	49.41	12.78	-0.11 (-0.27%)	2.17%	37.84%	6.21M	0.98%	B Buy
NEED Direxion Daily Consumer Staples Bull 3X Shares	29.35	29.49	29.49	29.21	37.05	13.02	+0.01 (0.03%)	-14.03%	3.70%	5.88M	0.98%	B Buy
PPMC PortfolioPlus S&P Mid Cap ETF	24.39	24.39	24.39	24.39	27.82	13.07	+0.01 (0.04%)	-9.47%	5.01%	1.22M	0.45%	B Buy
LTL ProShares Ultra Telecommunications ProShares	36.52	36.52	36.52	36.52	46.24	22.00	-0.05 (-0.14%)	-11.66%	-2.17%	915.00K	0.95%	B Buy
UPRO ProShares UltraPro S&P 500	57.22	57.01	57.53	56.62	80.87	17.51	-0.04 (-0.07%)	-18.07%	18.27%	1.55B	0.92%	C Neutral
SPXL Direxion Daily S&P 500 Bull 3X Shares	53.91	53.71	54.22	53.38	76.33	16.51	-0.05 (-0.09%)	-18.33%	17.89%	1.49B	1.01%	C Neutral
SOXL Direxion Daily Semiconductor Bull 3x Shares	246.80	249.80	255.99	244.63	331.00	53.50	-0.87 (-0.35%)	-10.05%	78.31%	1.48B	0.96%	C Neutral
UDOW ProShares UltraPro Dow30	79.59	78.40	80.03	78.11	137.44	25.32	+0.19 (0.24%)	-35.71%	-11.09%	781.40M	0.95%	C Neutral
UYG ProShares Ultra Financials	33.05	32.65	33.42	32.65	57.92	16.81	+0.05 (0.15%)	-37.95%	-20.86%	494.50M	0.95%	C Neutral
LABU Direxion Daily S&P Biotech Bull 3X Shares	54.20	55.93	56.43	53.38	73.94	12.64	-1.71 (-3.06%)	-5.74%	40.56%	470.97M	1.04%	C Neutral
DDM ProShares Ultra Dow30	47.31	46.86	47.49	46.73	59.63	21.05	+0.10 (0.21%)	-14.48%	6.36%	373.04M	0.95%	C Neutral
TMF Direxion Daily 20-Yr Treasury Bull 3x Shrs	39.93	40.50	40.76	39.93	58.30	25.38	-0.69 (-1.70%)	54.88%	21.66%	318.08M	1.05%	C Neutral
BIB ProShares Ultra Nasdaq Biotechnology	68.41	69.18	69.46	67.95	83.06	35.49	-0.85 (-1.23%)	10.79%	49.53%	230.82M	0.95%	C Neutral
UWM ProShares Ultra Russell2000	58.14	57.52	58.60	57.22	81.18	23.20	-0.11 (-0.19%)	-24.38%	-3.57%	171.72M	0.95%	C Neutral
MVV ProShares Ultra MidCap400	34.40	34.21	34.72	34.15	47.08	13.47	-0.17 (-0.49%)	-23.46%	-5.00%	133.84M	0.95%	C Neutral
TPOR Direxion Daily Transportation Bull 3X Shares	17.86	17.21	18.20	17.11	30.84	4.34	+0.40 (2.29%)	-35.09%	-16.61%	42.88M	1.01%	C Neutral
FIHD UBS AG UBS AG FI Enhanced Global High Yield ETN due March 3, 2026	157.48	157.00	157.80	157.00	211.94	76.73	-0.92 (-0.58%)	-24.35%	-3.34%	37.80M	0.80%	C Neutral
BDCS UBS AG Exchange Traded Access Securities (E TRACS) Linked to the Wells Fargo Business Development Company Index due April 26, 2041	14.44	14.30	14.48	14.30	20.66	8.50	-0.04 (-0.28%)	-27.80%	-25.03%	27.58M	0.85%	C Neutral
FIYY Barclays ETN FI Enhanced Global High Yield Exchange Traded Notes Series B	89.68	89.00	89.68	88.61	126.75	46.84	-0.19 (-0.21%)	-27.52%	-7.73%	20.17M	0.93%	C Neutral
PFFL ETRACS 2xMonthly Pay Leveraged Preferred Stock Index ETN due September 25, 2048	17.85	17.86	17.86	17.78	26.24	3.00	-0.01 (-0.06%)	-29.24%	-29.36%	19.64M	0.85%	C Neutral
SAA ProShares Ultra SmallCap600	73.71	73.66	73.71	73.60	113.78	32.22	-0.13 (-0.18%)	-32.78%	-14.68%	18.44M	0.95%	C Neutral
SDYL ETRACS Monthly Pay 2xLeveraged S&P Dividend ETN	77.06	77.19	77.19	77.06	102.38	32.21	+0.04 (0.05%)	-22.57%	-6.04%	14.64M	0.30%	C Neutral
FFEU Barclays ETN FI Enhanced Europe 50 Exchange Traded Notes Series C	80.07	80.07	80.07	80.07	111.97	37.48	-1.59 (-1.95%)	-26.30%	-5.48%	7.12M	1.05%	C Neutral
SMLL Direxion Daily Small Cap Bull 2X Shares	40.15	40.24	40.26	40.15	55.33	16.37	-0.14 (-0.35%)	-24.04%	-3.29%	2.68M	0.79%	C Neutral
FAS Direxion Financial Bull 3X Shares	38.25	37.82	38.86	37.60	108.13	14.25	+0.10 (0.26%)	-59.21%	-42.06%	1.62B	0.99%	D Sell
TNA Direxion Small Cap Bull 3X Shares	35.57	35.05	36.03	34.76	77.89	10.09	-0.09 (-0.25%)	-50.57%	-29.68%	1.04B	1.12%	D Sell
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	47.42	47.75	48.12	46.50	98.55	4.76	-0.72 (-1.50%)	-30.22%	0.19%	437.71M	0.99%	D Sell
ERX Direxion Energy Bull 2X Shares	15.10	14.60	15.13	14.47	190.20	5.00	+0.29 (1.96%)	-91.29%	-88.93%	387.22M	1.06%	D Sell
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	13.49	13.00	13.70	12.76	72.28	5.07	+0.36 (2.74%)	-76.26%	-72.05%	249.56M	0.99%	D Sell
URTY ProShares UltraPro Russell2000	42.16	41.56	42.70	41.17	92.34	11.80	-0.16 (-0.38%)	-50.57%	-29.50%	245.22M	0.95%	D Sell
REML Credit Suisse AG Credit Suisse X-Links Monthly Pay 2xLeveraged Mortgage REIT Exchange Traded Notes (ETNs) due July 11, 2036	4.12	4.05	4.21	4.02	28.39	0.52	+0.02 (0.49%)	-83.21%	-80.95%	124.86M	0.50%	D Sell
DPST Direxion Daily Regional Banks Bull 3X Shares	67.25	63.52	68.89	62.07	545.60	33.72	+2.57 (3.97%)	-85.54%	-79.22%	122.40M	0.99%	D Sell
URE ProShares Ultra Real Estate	56.91	56.73	57.97	56.63	100.90	28.48	+0.01 (0.02%)	-34.55%	-28.85%	80.14M	0.95%	D Sell
DRN Direxion Daily Real Estate Bull 3x Shares	10.90	10.82	11.21	10.80	36.09	4.50	-0.01 (-0.09%)	-61.71%	-58.63%	63.65M	0.99%	D Sell
MIDU Direxion Mid Cap Bull 3X Shares	25.25	25.02	25.66	24.92	52.34	6.73	-0.19 (-0.75%)	-48.81%	-29.31%	52.05M	1.03%	D Sell
UMDD UltraPro MidCap400	63.48	62.52	64.45	62.52	130.29	16.95	-0.35 (-0.55%)	-48.44%	-29.03%	31.89M	0.95%	D Sell
BNKU MicroSectors U.S. Big Banks Index 3X Leveraged ETNs	13.92	13.36	14.18	13.22	81.58	7.04	+0.22 (1.61%)	-82.42%	-65.84%	20.88M	0.95%	D Sell
DUSL Direxion Daily Industrials Bull 3X Shares	20.15	19.74	20.49	19.48	41.55	5.89	+0.22 (1.10%)	-44.66%	-25.50%	17.96M	1.01%	D Sell
UTSL Direxion Daily Utilities Bull 3X Shares	24.30	24.90	24.90	24.10	59.83	10.85	-0.60 (-2.41%)	-45.68%	-35.88%	17.42M	0.99%	D Sell
UPW ProShares Ultra Utilities	51.85	52.37	52.62	51.85	82.73	29.22	-0.93 (-1.76%)	-24.83%	-14.51%	15.84M	0.95%	D Sell
BNKO MicroSectors U.S. Big Banks Index 2X Leveraged ETNs	29.32	29.33	29.89	29.27	71.67	16.73	+0.33 (1.14%)	-58.26%	-34.04%	14.66M	0.95%	D Sell
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	15.99	15.81	16.21	15.71	29.70	6.55	-0.01 (-0.06%)	-36.72%	24.15%	14.38M	0.98%	D Sell
BNKZ MicroSectors U.S. Big Banks Index -2X Inverse Leveraged ETNs	25.13	25.13	25.13	25.13	78.25	22.16	-0.29 (-1.14%)	-20.06%	-52.29%	12.56M	0.95%	D Sell
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	35.22	33.94	35.54	33.94	166.58	16.00	+1.79 (5.35%)	-74.39%	-59.29%	11.15M	1.21%	D Sell
BNKD MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs	10.98	11.15	11.40	10.81	97.12	9.00	-0.31 (-2.75%)	-54.04%	-79.17%	5.49M	0.95%	D Sell
PASS Direxion Daily Consumer Discretionary Bear 3X Shares	4.79	4.81	4.83	4.77	35.00	4.72	0.00 (0.00%)	-64.27%	-73.33%	3.11M	1.08%	D Sell
LACK Direxion Daily Consumer Staples Bear 3X Shares	8.89	8.90	8.96	8.85	25.26	8.80	-0.02 (-0.22%)	-40.98%	-54.21%	445.00K	1.10%	D Sell
YCOM ProShares UltraShort Communication Services Select Sector	15.81	15.81	15.81	15.81	42.43	15.75	+0.02 (0.13%)	-38.99%	-51.70%	395.00K	0.95%	D Sell
MUTE Direxion Daily Communication Services Index Bear 3X Shares	5.15	5.17	5.17	5.15	23.09	5.00	+0.01 (0.19%)	-58.31%	-70.98%	257.00K	1.07%	D Sell
HIBS Direxion Daily S&P 500 High Beta Bear 3X Shares	5.06	5.30	5.32	4.97	71.87	4.65	-0.14 (-2.69%)	-74.51%	-79.50%	52.26M	1.07%	NR Not Rated
HIBL Direxion Daily S&P 500 High Beta Bull 3X Shares	120.87	116.26	122.58	115.81	361.00	37.80	+3.10 (2.63%)	-56.53%	-52.24%	40.63M	0.98%	NR Not Rated
CEFL ETRACS Monthly Pay 2X Leveraged Closed-End Fund ETN	3.64	3.61	3.67	3.59	14.85	1.10	+0.04 (1.11%)	-74.20%	-74.09%	36.95M	0.50%	NR Not Rated
WEBL Direxion Daily Dow Jones Internet Bull 3X Shares	44.58	45.72	45.79	43.95	49.48	9.33	-0.66 (-1.46%)	60.22%	81.67%	31.70M	0.98%	NR Not Rated
BDCL 2xLeveraged Long Exchange Traded Access Securities (E-TRACS) Linked to the Wells Fargo Business Development Company Index due May 24, 2041	2.44	2.38	2.44	2.35	15.41	0.80	-0.01 (-0.41%)	-83.20%	-83.00%	20.84M	0.85%	NR Not Rated
MLPQ UBS AG ETRACS 2xMonthly Leveraged Alerian MLP Infrastructure Index ETN Series B due February 12, 2046	3.70	3.43	3.94	3.30	30.94	2.89	-0.10 (-2.63%)	-81.38%	-87.55%	18.13M	0.85%	NR Not Rated
UBIO Proshares UltraPro Nasdaq Biotechnology	17.77	17.97	19.24	17.43	35.36	13.13	-1.09 (-5.78%)	-45.65%	-34.25%	16.26M	0.95%	NR Not Rated
DVYL ETRACS Monthly Pay 2x Leveraged Dow Jones Select Dividend Index ETN	29.65	30.00	30.00	29.50	77.98	15.06	-0.08 (-0.27%)	-60.42%	-56.53%	12.31M	0.35%	NR Not Rated
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due September 30, 2044	11.14	10.93	11.22	10.92	27.59	4.90	+0.08 (0.72%)	-57.59%	-55.35%	11.14M	0.85%	NR Not Rated
LBDC 2xLeveraged Long ETRACS Wells Fargo Business Development Company Index Series B due May 24, 2041	2.42	2.32	2.46	2.32	15.50	0.51	0.00 (0.00%)	-83.37%	-83.04%	10.14M	0.85%	NR Not Rated
FINU ProShares UltraPro Financial Select Sector	24.33	24.65	26.60	22.58	117.78	14.90	-2.61 (-9.69%)	-78.47%	-64.29%	9.39M	0.95%	NR Not Rated
SMHD ETRACS Monthly Pay 2xLeveraged US Small Cap High Dividend ETN due February 6, 2045	2.37	2.55	2.82	2.20	15.19	2.00	0.00 (0.00%)	-79.03%	-84.15%	7.85M	0.85%	NR Not Rated
DVHL ETRACS 2xLeveraged Diversified High Income ETN	4.15	4.00	4.41	3.92	18.71	1.33	+0.08 (1.97%)	-76.41%	-76.59%	4.88M	0.85%	NR Not Rated
MRRL ETRACS Monthly Pay 2xLeveraged Mortgage REIT ETN Series B due October 16, 2042	0.21	0.26	0.27	0.20	15.89	0.20	-0.06 (-22.22%)	-98.53%	-98.49%	4.69M	0.40%	NR Not Rated
MORL ETRACS Monthly Pay 2XLeveraged Mortgage REIT ETN	0.24	0.27	0.28	0.23	15.85	0.23	-0.01 (-4.00%)	-98.32%	-98.38%	4.40M	0.40%	NR Not Rated
HDLV ETRACS Montly Pay 2xLeveraged US High Dividend Low Volatility ETN due September 30, 2044	6.48	6.50	7.10	5.70	30.43	3.33	-0.10 (-1.52%)	-78.39%	-76.49%	4.21M	0.85%	NR Not Rated
LMLP ETRACS Monthly Pay 2xLeveraged Wells Fargo MLP Ex-Energy ETN	2.99	3.06	3.28	2.90	18.46	1.00	+0.14 (4.91%)	-83.15%	-78.73%	3.82M	0.85%	NR Not Rated
LMLB ETRACS Monthly Pay 2xLeveraged Wells Fargo MLP Ex-Energy ETN Series B due June 24, 2044	8.08	8.15	8.15	8.07	26.92	4.17	+0.01 (0.12%)	-68.89%	-67.71%	3.23M	0.85%	NR Not Rated
WEBS Direxion Daily Dow Jones Internet Bear 3X Shares	5.42	5.31	5.43	5.23	47.93	4.92	+0.11 (2.07%)	-75.43%	-78.71%	3.19M	1.07%	NR Not Rated
BDCY ETRACS 2xMonthly Leveraged Wells Fargo Diversified Business Development Company Index ETN Series B due October 21, 2049	7.74	7.64	7.75	7.64	27.71	3.59	0.00 (0.00%)	-69.78%	-69.09%	3.10M	0.85%	NR Not Rated
MLPZ UBS AG ETRACS ETRACS 2xMonthly Leveraged S&P MLP Index ETN Series B due February 12, 2046	3.94	3.60	4.07	3.60	35.87	1.91	-0.01 (-0.25%)	-83.74%	-88.64%	2.96M	0.95%	NR Not Rated
AMJL Credit Suisse X-Links Monthly Pay 2xLeveraged Alerian MLP Index Exchange Traded Notes due May 16, 2036	1.20	1.45	1.48	1.19	15.41	1.19	-0.36 (-23.08%)	-87.97%	-91.87%	2.30M	0.85%	NR Not Rated
UCOM ProShares UltraPro Communication Services Select Sector	25.22	25.25	26.97	24.91	75.78	19.55	-3.68 (-12.73%)	-59.41%	-43.82%	1.45M	0.95%	NR Not Rated
SCOM ProShares UltraPro Short Communication Services Select Sector	24.88	24.88	24.88	24.88	38.17	16.25	0.00 (0.00%)	22.85%	-26.44%	621.00K	0.95%	NR Not Rated
LRET ETRACS Monthly Pay 2xLeveraged MSCI US REIT Index ETN due May 5, 2045	8.40	8.50	8.98	8.40	31.49	5.59	0.00 (0.00%)	-70.21%	-67.94%	546.00K	0.85%	NR Not Rated
HOML ETRACS Monthly Reset 2xLeveraged ISE Exclusively Homebuilders ETN due March 13, 2045	8.44	8.44	8.44	8.44	80.89	8.44	-2.31 (-21.49%)	-85.16%	-72.70%	253.00K	0.85%	NR Not Rated

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