The Dow Jones Industrial Jones closed at a loss of 800 points today, which is staggering enough to send a signal for recession concerns. To put that into perspective, it’s not only the worst drop so far this year; it’s the 4th worst drop in the history of the Dow.
The top three drops all took place in 2018, with two 1,000-point plunges in February 2018 alone, following an extreme period of calm. One would have to go back to the 2008 financial crisis (number 6 on the Dow Jones drop chart) to find any drop close to being as significant to what is being seen here.
However, with regards to the sudden turn for the worst seen today, traders found opportunity in a mix of volatility, inverse, and leveraged ETFs.
Here a look at the top 10 best performers for Wednesday, Aug. 14, 2019:
1. VelocityShares Daily 2x VIX Short-Term ETN (TVIX ) – Up 26.44%
TVIX provides institutional investors with exchange-traded instruments for implementing views on volatility and hedging risks. It relies on strategies combining VIX ETFs, ETNs, Futures, variance swaps, plus options to construct Black Swan or Tail-Risk strategies.
2. ProShares Ultra VIX Short-Term Futures ETF (UVXY ) – Up 20.60%
The UVXY fund seeks daily investment results, before fees and expenses corresponding to 2x the daily performance of the SP 500 VIX Short-Term Futures Index. This index utilizes prices of the next two near-term VIX® futures contracts to replicate a position that rolls the nearest month VIX futures to the next month on a daily basis in equal fractional amounts. This results in a constant one-month rolling long position in first and second month VIX futures contracts.
3. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares (DRIP ) – Up 15.26%
DRIP seeks daily investment results, before fees and expenses of 300% or 300% of the inverse of SP Oil and Gas Exploration and Production Select Industry Index’s performance. This index represents the oil and gas exploration and production sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap exchanges. The Oil & Gas Exploration Index is an equal weighted market cap index
4. ProShares VIX Short-Term Futures ETF (VIXY ) – Up 14.01%
The VIXY fund seeks investment results, before fees and expenses tracking the performance of the SP 500 VIX Short-Term Futures Index. This index utilizes prices of the next two near-term VIX® futures contracts to replicate a position that rolls the nearest month VIX futures to the next month on a daily basis in equal fractional amounts. This results in a constant one-month rolling long position in first and second month VIX futures contracts.
5. Direxion Daily Semiconductors Bear 3x Shares (SOXS ) – Up 9.38%
SOXS seek daily investment results, before fees and expenses, of 300% or 300% of the inverse of the performance of the PHLX Semiconductor Sector Index. This index is a modified market capitalization-weighted index composed of companies primarily involved in the design, distribution, manufacture, and sale of semiconductors.
6. Direxion Daily Technology Bear 3x Shares (TECS ) – Up 9.21%
TECS seeks daily investment results, before fees and expenses, of 300% or 300% of the inverse of the performance of the Technology Select Sector Index. This index includes companies from the following industries: computers & peripherals; software; diversified telecommunication services; communications equipment; semiconductor & semiconductor equipment; internet software & services; IT services; wireless telecommunication services; electronic equipment & instruments; and office electronics.
7. ProShares UltraPro Short QQQ (SQQQ ) – Up 9.06%
The SQQQ fund seeks daily investment results, before fees and expenses corresponding to three times the inverse of the daily performance of the NASDAQ-100 Index. This index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies including investment companies.
8. Direxion Daily FTSE China Bear 3x Shares (YANG ) – Up 8.98%
YANG seeks daily investment results, before fees and expenses, of 300% or 300% of the inverse of the performance of the FTSE China 50 Index. The index tracks 50 of the largest and most liquid companies in China. These equities trade on the Hong Kong Stock Exchange (SEHK) and are weighted based on market cap.
9. Direxion Daily S& P 500 Bear 3X (SPXS ) – Up 8.86%
SPXS seeks daily investment results, before fees and expenses, of 300% or 300% of the inverse of the performance of the SP 500 Index. The S&P 500 is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and covers approximately 80% of available market capitalization.
10. Direxion Daily 20 Year Plus Treasury Bull 3x Shares (TMF ) – Up 6.63%
The TMF fund seeks daily investment results, before fees and expenses, of 300% or 300% of the inverse of the performance of the ICE US Treasury 20 Plus Year Bond Index. This index is part of a series of indices intended to assess the U.S. Treasury market. The Index is market value weighted and is designed to include U.S. dollar denominated, fixed rate securities with minimum term to maturity greater than or equal to twenty years. The ICE U.S. Treasury Bond Index Series™ has an inception date of December 31, 2015.
For more leveraged and inverse market trends, visit our Leveraged & Inverse ETF Channel.
