ETF Daily | RVNL Surges 53%; COIA Rockets 33%; DUST Sinks over 11%; Defensive Tilt With Small-Cap Revival

Market Overview

U.S. equities were little changed, with the Dow Industrials edging 0.10%, the S&P 500 holding 0.05%, and the Nasdaq Composite easing 0.22%. Across ETFs, leadership skewed toward small caps, precious metals, and rate‑sensitives, while China‑linked funds generally trailed. The session reflected a modest risk-on tone with rotation into gold and silver miners and real estate, alongside strength in leveraged single‑stock and crypto‑adjacent products; volatility firmed, and long-duration Treasuries posted mild gains.

Top 5 US ETF Gainers

GraniteShares 2x Long RIVN Daily ETF (RVNL) surged 52.99%. The fund is a leveraged single‑stock ETF providing 2x daily exposure to Rivian Automotive. A sharp advance in Rivian’s underlying shares magnified performance in RVNL, consistent with the fund’s objective of delivering twice the daily move in the automaker’s stock, subject to the compounding effects of leverage.

ProShares Ultra Coin ETF (COIA) climbed 33.25%. The strategy targets 2x daily exposure to Coinbase Global’s equity performance using derivatives. With Coinbase shares rallying significantly, the structure amplified the single‑name move on the day, in keeping with the fund’s leveraged methodology and daily reset design.

GraniteShares 2x Long COIN Daily ETF (CONL) advanced 32.62%. This single‑stock ETF aims for 2x the daily return of Coinbase. The notable strength in Coinbase’s equity translated into a magnified daily result for CONL in line with its leveraged, daily compounding approach.

Leverage Shares 2X Long COIN Daily ETF (COIG) added 32.02%. COIG seeks twice the daily return of Coinbase using swaps and other instruments. The fund’s single‑stock leverage profile led to an amplified move relative to Coinbase’s underlying gain, with the daily reset and compounding dynamics evident in the outcome.

Direxion Daily COIN Bull 2X ETF (CONX) rose 31.97%. Designed to achieve 2x daily exposure to Coinbase shares, the fund’s move reflected the underlying stock’s strong session. As with peers, the leverage and daily rebalancing aim to magnify same‑day swings in the target company’s equity price.

Top 5 US ETF Losers

Direxion Daily Gold Miners Index Bear 2X Shares (DUST) fell 11.38%. The fund delivers -2x daily exposure to the NYSE Arca Gold Miners Index. A strong rally in gold‑mining equities pushed this inverse, leveraged ETF in the opposite direction, consistent with its objective to benefit when miners soften and to retreat when they rally.

ProShares UltraShort Silver (ZSL) declined 5.99%. ZSL targets -2x the daily performance of silver prices. With silver strengthening, inverse leveraged exposure detracted, mirroring the metal’s advance and the fund’s mandate to move opposite the daily spot‑price direction with amplified magnitude.

ProShares UltraShort Gold (GLL) slipped 4.74%. GLL seeks -2x daily exposure to gold price moves. As bullion gained, the inverse, leveraged profile translated into losses for GLL, reflecting the fund’s design to respond negatively—and with leverage—to rising gold prices.

DB Gold Double Short Exchange Traded Notes (DZZ) decreased 4.55%. The ETN aims to provide -2x daily exposure to gold. Gold’s broad‑based strength weighed on the note, which is structured to move inversely—and with leverage—relative to the metal’s daily performance.

Direxion Daily Small Cap Bear 3X Shares (TZA) eased 3.77%. TZA targets -3x daily exposure to the Russell 2000. A constructive session for small caps pressured this triple‑leveraged inverse ETF, consistent with its objective to rally when small‑cap benchmarks weaken and to retreat when they firm.

Top 5 Equity Index ETFs

Direxion Daily Small Cap Bull 3x Shares (TNA) gained 3.65%. This ETF seeks 3x the daily return of the Russell 2000, so a positive small‑cap session produced an outsized move via leverage and daily compounding.

ProShares Ultra Russell 2000 (UWM) added 2.55%. UWM aims for 2x daily exposure to the Russell 2000. The fund benefited from broad small‑cap strength, with leverage enhancing the index’s modest advance.

iShares MSCI South Korea ETF (EWY) rose 2.42%. EWY tracks large‑ and mid‑cap Korean equities; the day’s move reflected a firmer backdrop for Korea’s export‑heavy market and its currency‑adjusted equity performance.

Direxion Daily FTSE China Bear 3X Shares (YANG) increased 2.30%. YANG targets -3x daily exposure to large‑cap China equities. Weakness in China‑linked benchmarks supported this inverse, leveraged strategy as it amplified the underlying region’s down‑day.

ProShares UltraShort FTSE China 50 (FXP) advanced 1.84%. FXP provides -2x daily exposure to the FTSE China 50. The fund benefited from softness in large‑cap Chinese shares, with inverse leverage compounding the daily move.

Top 5 Commodity ETFs

Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) rallied 11.33%. NUGT offers 2x daily exposure to gold‑mining equities, which are highly sensitive to bullion and operating cost dynamics; the combination of stronger gold and leverage amplified miners’ advance.

ProShares Ultra Silver (AGQ) climbed 5.93%. AGQ targets 2x the daily return of silver prices. A supportive session for silver translated into a leveraged boost for the fund as the metal’s move compounded through daily resetting.

VanEck Junior Gold Miners ETF (GDXJ) rose 5.81%. GDXJ tracks smaller‑capitalization global gold miners, which typically exhibit higher beta to bullion than senior producers; momentum across the complex supported outsized gains among juniors.

VanEck Gold Miners ETF (GDX) added 5.76%. The fund tracks large‑ and mid‑cap gold miners. Rising gold prices and a constructive cost backdrop drove broad‑based gains across producers.

ProShares Ultra Gold (UGL) advanced 4.84%. UGL seeks 2x daily exposure to gold price moves. The fund’s leveraged structure amplified bullion’s advance, reflecting the daily compounding of returns in a favorable metal tape.

Top 5 Industry ETFs

Direxion Daily Real Estate Bull 3X Shares (DRN) increased 4.19%. DRN delivers 3x daily exposure to U.S. real estate equities, which tend to respond to rate expectations; a favorable move in yields and rate‑sensitive assets bolstered the fund’s leveraged gains.

Utilities Select Sector SPDR Fund (XLU) gained 2.76%. XLU tracks U.S. utilities, a rate‑sensitive, defensive cohort. The session’s tilt toward yield‑plays and steady cash flows supported the group’s advance.

ProShares Ultra Real Estate (URE) added 2.67%. URE provides 2x daily exposure to U.S. real estate equities. The combination of modestly easier rate dynamics and leverage propelled the fund ahead of broader benchmarks.

Direxion Daily Semiconductors Bull 3x Shares (SOXL) rose 2.36%. SOXL seeks 3x daily exposure to U.S. semiconductor stocks. A constructive chip tape, despite dispersion among mega‑cap names, translated into a leveraged lift.

SPDR S&P Homebuilders ETF (XHB) advanced 1.89%. XHB tracks U.S. homebuilding and related industries. The group’s sensitivity to mortgage‑rate expectations and housing demand supported a solid move in the basket.

Top 5 Bond ETFs

iShares Convertible Bond ETF (ICVT) improved 0.86%. ICVT holds U.S. convertible bonds, which blend equity sensitivity with fixed income; today’s mild equity gains and supportive rate tone aided the hybrid segment.

VanEck Preferred Securities ex Financials ETF (PFXF) added 0.77%. PFXF focuses on preferreds outside the financial sector, which can benefit from stable‑to‑lower rate expectations and income demand.

SPDR ICE Preferred Securities ETF (PSK) gained 0.72%. PSK’s diversified preferreds exposure responded to firmer risk sentiment and a steady rate backdrop that can cushion credit‑sensitive income instruments.

First Trust SSI Strategic Convertible Securities ETF (FCVT) rose 0.69%. FCVT’s actively managed convertibles portfolio captured the day’s constructive cross‑asset tone, with positive contributions from equity‑linked features.

SPDR Bloomberg Convertible Securities ETF (CWB) advanced 0.64%. CWB, the broad U.S. convertibles benchmark, reflected supportive equity conditions and modest yield dynamics, lifting the hybrid asset class.

Conclusion

The ETF market’s leadership coalesced around small caps, precious metals miners, and rate‑sensitive sectors, while inverse trades tied to gold and silver retreated. Single‑stock leveraged products tied to Coinbase and Rivian dominated the day’s leaderboard, underscoring persistent appetite for targeted, high‑beta exposure. Real estate and utilities participated, hinting at a nuanced preference for income and duration‑sensitive assets amid a steady Treasury tone. Regionally, bearish China vehicles outperformed their long counterparts, pointing to continued caution on that exposure. Overall, the session reflected selective risk‑taking balanced by hedges in precious metals and a continued bid for structures that magnify specific equity themes.