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Last week delivered quite a reversal of fortunes for our 10 best ETF* performers of the week. After inverse oil and natural gas funds made the previous week's list, it was the bull funds that enjoyed success this time around.
VelocityShares 3x Long Crude Oil ETN (NYSE Arca: UWT), ProShares UltraPro 3x Crude Oil ETF (NYSE Arca: OILU), and ProShares Ultra Bloomberg Crude Oil (NYSE Arca: UCO) all rode oil's 7% rise to big gains.
Natural gas prices were up 3.6% for the week, erasing last week's losses to settle at $3.04 on Friday, exactly where they were two weeks earlier. That was enough to give Direxion Daily Natural Gas Related Bull 3x Shares (NYSE Arca: GASL) an 11.1% gain.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3x Shares (NYSE Arca: GUSH) benefited from the rise of both fuels.
It's worth noting that natural gas prices have tanked early in this holiday week, sitting at $2.84 on Wednesday. Another reversal could be likely for next week's list.
Biotechs also swung the other way. After biotech bull funds dominated the previous week's winners, bear fund Direxion Daily S&P Biotech Bear 3x Shares (NYSE Arca: LABD) gained 11.1% last week.
Gold miner funds turned around as well. Bull funds were up the previous week even though gold was flat. Last week gold fell 1.1% to $1,242.30, and Direxion Daily Gold Miners Bear 3x Shares (NYSE Arca: DUST) enjoyed a 9.2% gain. Direxion's junior gold miner bear fund didn't make the cut, but was up 6.3% for the week.
*ETFs have a primary listing on a U.S. exchange and an average daily trading volume over 100,000. Data and analytics provided by FactSet.
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About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.