ETF Daily | RKLX Rises 13%; SLV Rises 6%; Commodities Lead Rotation

Market Overview

U.S. equities firmed as the S&P 500 gained 0.56%, the Nasdaq Composite advanced 0.78%, and the Dow Jones Industrial Average added 0.26%. Across ETFs, price action reflected a risk-on tilt and a commodities-led rotation, with leveraged technology and small-cap products in positive territory, precious-metals and energy complexes out front, inverse equity and inverse metals funds lagging, defensive sectors such as utilities and real estate softer, and long-duration Treasuries easing modestly.

Top 5 US ETF Gainers

Defiance Daily Target 2X Long ONDS ETF (ONDL) climbed 20.10%. The fund targets twice the daily return of Ondas Holdings, so a strong move in the underlying single stock translated into amplified gains for this leveraged product.

Tradr 2X Long BE Daily ETF (BEX) advanced 17.30%. BEX seeks 2x the daily performance of Bloom Energy shares, and its leveraged construction magnified the underlying stock’s move on the session.

Leverage Shares 2X Long BE Daily ETF (BEG) rose 16.37%. Like BEX, this product provides double daily exposure to Bloom Energy, so the same single-stock driver powered a significant swing at the ETF level.

Tradr 2X Long APP Daily ETF (APPX) gained 14.79%. The fund is designed to deliver twice the daily return of AppLovin, and the underlying’s strength produced an amplified response consistent with its leveraged mandate.

Tradr 2X Long DASH Daily ETF (DASX) increased 14.38%. Offering 2x daily exposure to DoorDash, the ETF’s methodology multiplies the day’s single-stock performance into a larger percentage change for the vehicle.

Top 5 US ETF Losers

ProShares UltraShort Silver (ZSL) fell 10.95%. ZSL targets twice the inverse of silver’s daily move, so a rally in silver prices produced a pronounced negative return for this leveraged short metals product.

ProShares UltraShort Bloomberg Crude Oil (SCO) retreated 6.16%. SCO seeks 2x the inverse of daily WTI crude oil performance, and strength in oil futures weighed proportionally on this inverse energy exposure.

ProShares UltraShort Gold (GLL) declined 4.73%. With a mandate to deliver double the inverse of gold’s daily price change, the fund moved lower in line with a gold advance.

Direxion Daily Gold Miners Index Bear 2X Shares (DUST) eased 3.98%. DUST targets 2x the inverse of a gold miners index; a favorable session for mining equities left this short, levered exposure in negative territory.

PROSHARES ULTRASHORT ENERGY (DUG) slipped 3.01%. The ETF offers leveraged inverse exposure to the U.S. energy sector, and broad gains across energy equities translated into losses for this bearish instrument.

Top 5 Equity Index ETFs

Direxion Daily Small Cap Bull 3x Shares (TNA) gained 3.00%. TNA seeks triple the daily return of the Russell 2000, so a constructive small-cap tape delivered a proportionally larger move for this high-octane index exposure.

ProShares Ultra Russell 2000 (UWM) added 2.07%. UWM provides 2x leveraged daily exposure to the Russell 2000; steady improvement across smaller companies supported a solid session for the fund.

Direxion Daily FTSE China Bull 3X Shares (YINN) advanced 1.79%. YINN delivers triple daily exposure to large-cap Chinese equities, and a constructive day for China benchmarks filtered through this leveraged tracker.

ProShares UltraPro QQQ (TQQQ) increased 1.49%. TQQQ amplifies daily moves of the Nasdaq-100 by a factor of three; strength across large-cap technology and growth constituents bolstered performance.

Direxion Daily MSCI Emerging Markets Bull 3X Shares (EDC) rose 1.29%. EDC targets three times the daily return of a broad emerging markets index, and a firmer global risk backdrop lifted the instrument.

Top 5 Commodity ETFs

ProShares Ultra Silver (AGQ) surged 11.47%. AGQ provides 2x the daily performance of silver, and a sharp rally in the metal translated into a strong, magnified gain for this leveraged exposure.

ProShares Ultra Bloomberg Crude Oil (UCO) climbed 6.15%. UCO seeks double the daily move in WTI crude; firming energy prices carried the fund higher in line with its design.

iShares Silver Trust (SLV) gained 5.67%. SLV holds physical silver, so the fund closely tracked the day’s sizable rise in spot prices for the precious metal.

DB Gold Double Long ETN (DGP) advanced 5.40%. DGP aims to deliver twice the daily return of gold; the metal’s rise produced a leveraged positive result for this exchange-traded note.

ProShares Ultra Gold (UGL) increased 4.78%. UGL provides 2x exposure to gold’s daily move, and the metal’s rally led to an amplified gain for the fund.

Top 5 Industry ETFs

Direxion Daily Energy Bull 2x Shares (ERX) added 2.74%. ERX seeks twice the daily performance of the energy sector; higher oil prices and firm equity sentiment across energy components supported the leveraged advance.

Direxion Daily Financial Bull 3x Shares (FAS) gained 2.66%. FAS amplifies daily moves in U.S. financials by three times, and a constructive session for banks and diversified financials lifted the product.

Direxion Daily Semiconductors Bull 3x Shares (SOXL) rose 2.38%. SOXL delivers triple daily exposure to a semiconductor index, so incremental gains across chipmakers translated into a proportionally larger fund move.

SPDR S&P Metals & Mining ETF (XME) advanced 2.28%. XME’s equal-weight approach to metals and mining equities benefited from broad strength in resource-linked shares.

Invesco DB Commodity Index Tracking Fund (DBC) increased 2.06%. DBC’s diversified futures basket—spanning energy, metals, and agriculture—benefited from a commodities bid led by energy and precious metals.

Top 5 Bond ETFs

SPDR ICE Preferred Securities ETF (PSK) gained 0.51%. PSK’s hybrid fixed-income exposure to preferred stocks benefited from stable credit conditions and a modest drift in longer yields.

iShares Convertible Bond ETF (ICVT) advanced 0.39%. ICVT’s mix of convertible securities, sensitive to both credit and equity beta, participated alongside equity strength.

InfraCap REIT Preferred ETF (PFFR) increased 0.28%. Concentration in REIT preferreds provided a steady bid as credit spreads remained contained despite softer real estate equities.

SPDR Bloomberg Convertible Securities ETF (CWB) rose 0.27%. CWB’s diversified convertible bond portfolio captured equity-linked upside while being cushioned by bond characteristics.

Invesco Preferred ETF (PGX) added 0.22%. PGX’s broad preferred stock exposure benefited from supportive credit tone and contained rate volatility.

Conclusion

Thursday’s ETF tape showed a commodities-led rotation and a generally risk-on posture. Leveraged single-stock vehicles were prominent among the biggest percentage movers, with funds such as Defiance Daily Target 2X Long ONDS ETF (ONDL) and other 2x trackers tied to high-beta names logging double-digit gains, while the Defiance Daily Target 2X Long RKLB ETF (RKLX) also produced a sizeable 12.72% move in concert with its underlying. Precious-metals and energy complexes dominated the commodity leaderboard, lifting instruments like ProShares Ultra Silver (AGQ), iShares Silver Trust (SLV), and ProShares Ultra Bloomberg Crude Oil (UCO), while the mirror-image inverse metals and energy funds—ProShares UltraShort Silver (ZSL), ProShares UltraShort Bloomberg Crude Oil (SCO), and ProShares UltraShort Gold (GLL)—moved in the opposite direction by design. Equity beta remained favorable, with small-cap and technology-levered index products advancing, even as defensive pockets such as utilities and real estate lagged and long-duration Treasuries softened modestly. The resulting cross-asset pattern underscored a day in which cyclical and commodity-linked exposures set the pace, inverse equities and precious-metals hedges struggled, and credit-sensitive hybrids like preferreds and convertibles found support alongside equities.