Best-Performing Leveraged ETFs of Last Week

Wall Street offered a downbeat-to-moderate performance last week. The S&P 500 added 0.34%, the Dow Jones lost 0.4% and the Nasdaq was off 0.2%. The key event of the week was President Trump’s announcement of former Fed governor Kevin Warsh’s nomination as the next Fed chair.

If he makes it through Senate confirmation, Warsh would take over when Powell's leadership term ends in May. Appointed by former Republican President George W. Bush, Warsh served as a Fed governor from 2006 to 2011, a tenure that earned him the status of an inflation hawk.

An inflation hawk is generally focused on fighting inflation, even if it means keeping interest rates high. However, more recently, Warsh has promoted interest rate cuts. The move is in line with Trump’s push for lower borrowing costs.

Slump in Precious Metal Market

Precious metals like gold and silver plunged sharply on Jan. 30, 2026, in a dramatic pullback from this year’s and last year’s powerful rally. The dollar strengthened amid the Warch nomination, which has probably played spoilsport for the commodity segment.

Slide in Quantum Computing Shares

Quantum computing stocks slumped massively last week, with several pure-play companies joining the broader technology sector’s sell-off. There were sharp declines in stocks for major players like Rigetti Computing (RGTI), IonQ (IONQ) and D-Wave Quantum (QBTS). 

The quantum segment has been thriving with acquisitions and big-ticket orders. But a rotation out of high-volatility speculative tech sector thanks to the nomination of a perceived hawkish new Fed chair has probably hit the space hard.  

Natural Gas Keeping Going Higher

U.S. natural gas prices continued to soar as cold weather persisted and liquefied natural gas (LNG) demand stayed firm. Flows to LNG export plants increased. The price gain came despite forecasts for milder weather and relatively lower heating demand, as well as a rebound in U.S. output from frozen wells, as quoted on Trading Economics. Overall, the weather is expected to remain colder than normal through Feb. 14, keeping natural gas prices red-hot.

Leveraged ETF Winners

The above-mentioned backdrop determined the winners and losers in the exchange-traded fund (ETF) industry. Since quantum computing and mining stocks slumped, ETFs with a bearish view on those areas shot up last week, while the leveraged bullish natural gas ETF surged. Here are the winners.

Defiance Daily Target 2x Short RGTI ETF RGTZ – Up 54.1%

The Defiance Daily Target 2x Short RGTI ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of Rigetti Computing, Inc. RGTI stock plunged over 22% last week. The fund charges 129 bps in fees.

ProShares Ultra Bloomberg Natural Gas BOIL – Up 43.7%

The ProShares Ultra Bloomberg Natural Gas seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Natural Gas Subindex. The fund charges 95 bps in fees.

Defiance Daily Target 2x Short QBTS ETF QBTZ – Up 37.6%

D-Wave Quantum QBTS shares retreated about 17% last week.The Defiance Daily Target 2x Short QBTS ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of D-Wave Quantum Inc. The fund charges 129 bps in fees.

MicroSectors Gold Miners -3X Inverse Leveraged ETNs GDXD – Up 34.5%

SPDR Gold Trust GLD lost 4.7% last week.The MicroSectors Gold Miners -3X Inverse Leveraged ETNs is linked to a three times inverse leveraged participation in the performance of the S-Network MicroSectors Gold Miners Index. GDXD charges 95 bps in fees.

Defiance Daily Target 2x Short PLTR ETF PLTZ – Up 37.8%

The Defiance Daily Target 2x Short PLTR ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of Palantir Technologies Inc.  The PLTR stock slumped 12.9% last week. PLTZ charges 129 bps in fees.

Defiance Daily Target 2x Short IONQ ETF IONZ – Up 29.2%

IONQ Inc IONQ stock dropped 17% last week. The Defiance Daily Target 2x Short IONQ ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of IonQ Inc. IONZ charges 129 bps in fees.

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