Largest Leveraged and Inverse ETFs: October 2025
Updated as of: November 10, 2025
Leveraged and Inverse ETFs are advanced investment vehicles useful for short-term trading or gauging investor sentiment on a single stock or sector.
Leveraged ETFs are exchange-traded funds designed to amplify the daily returns of a specific index, typically by two (2x) or three (3x) times. These securities achieve the double or triple return objective through the use of financial derivatives such as swaps, futures, and options.
Inverse ETFs aim to deliver the opposite of the daily performance of a specific index, often using derivatives to achieve −1x, −2x, or −3x exposure. Investors use inverse ETFs to profit from or hedge against market declines without short selling.
Both of these investment vehicles are mainly intended for short-term trading or tactical strategies rather than long-term investing. This is mainly due to daily exposure resets and compounding effects that can cause significant performance deviations over time, especially in volatile markets.
To provide advisors with leveraged and inverse investment ideas for consideration in portfolios, we compiled a list of the largest leveraged and inverse ETFs based on share class assets under management (AUM) using the YCharts Fund Screener, which helps advisors navigate across a universe of over 85,000 funds to find specific investment candidates.
The following data includes AUM flows over the last month, three months, and one year, along with net expense ratio and one-year price returns for the largest leveraged and inverse ETFs.
Table of Contents
Largest Leveraged ETFs
These are the largest Leveraged ETFs as of October 31, 2025.
| Symbol | Name | Share Class Assets Under Management | 1 Month Fund Share Class Flows | 3 Month Fund Share Class Flows | 1 Year Fund Share Class Flows | Net Expense Ratio | Fund Family |
|---|---|---|---|---|---|---|---|
| TQQQ | ProShares UltraPro QQQ | $28,427,175,697 | -$523,318,486 | -$4,531,176,646 | -$8,553,188,565 | 0.82% | ProShares |
| SOXL | Direxion Daily Semiconductor Bull 3X Shares | $12,131,179,865 | -$2,775,749,928 | -$7,003,216,273 | -$8,009,086,172 | 0.75% | Direxion Funds |
| QLD | ProShares Ultra QQQ | $10,305,519,473 | $269,485,960 | $91,536,252 | $261,100,283 | 0.95% | ProShares |
| SSO | ProShares Ultra S&P500 | $7,300,085,459 | -$556,815,868 | -$553,966,329 | $271,082,994 | 0.87% | ProShares |
| TSLL | Direxion Daily TSLA Bull 2X Shares | $6,887,737,810 | -$323,111,070 | -$2,800,190,294 | $981,373,521 | 0.95% | Direxion Funds |
| SPXL | Direxion Daily S&P 500 Bull 3X Shares | $5,512,375,498 | -$36,258,904 | -$348,021,310 | -$854,053,660 | 0.87% | Direxion Funds |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X Shares | $4,446,905,535 | -$283,202,837 | -$1,163,915,193 | -$1,113,794,620 | 0.91% | Direxion Funds |
| UPRO | ProShares UltraPro S&P500 | $4,444,869,557 | $8,633,627 | -$512,475,687 | -$546,817,937 | 0.89% | ProShares |
| NVDL | GraniteShares 2x Long NVDA Daily ETF | $4,313,229,287 | -$358,682,999 | -$442,094,980 | -$2,781,715,381 | 1.05% | Graniteshares |
| TECL | Direxion Daily Technology Bull 3x Shares | $4,159,685,966 | $15,330,153 | -$365,477,468 | -$797,101,798 | 0.85% | Direxion Funds |
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Leveraged Fund Share Class Flows
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Largest Inverse ETFs
These are the largest Inverse ETFs as of October 31, 2025.
| Symbol | Name | Share Class Assets Under Management | 1 Month Fund Share Class Flows | 3 Month Fund Share Class Flows | 1 Year Fund Share Class Flows | Net Expense Ratio | Fund Family |
|---|---|---|---|---|---|---|---|
| SQQQ | ProShares UltraPro Short QQQ | $3,035,323,048 | $224,248,295 | $828,754,182 | $2,801,585,600 | 0.95% | ProShares |
| SOXS | Direxion Daily Semiconductor Bear 3X Shares | $1,281,694,328 | $413,388,004 | $733,577,922 | $1,868,502,483 | 0.97% | Direxion Funds |
| SH | ProShares Short S&P500 | $1,184,822,002 | $180,408,574 | $179,785,771 | $407,540,455 | 0.89% | ProShares |
| SVOL | Simplify Volatility Premium ETF | $681,516,700 | -$49,098,426 | -$186,207,109 | -$498,349,504 | 0.54% | Simplify Asset Management |
| SPXU | ProShares UltraPro Short S&P500 | $574,188,043 | $9,183,663 | $88,398,403 | $271,782,226 | 0.90% | ProShares |
| PSQ | ProShares Short QQQ | $566,856,153 | $13,993,397 | $84,108,184 | $20,428,905 | 0.95% | ProShares |
| SDS | ProShares UltraShort S&P500 | $452,024,620 | -$5,605,611 | $39,333,410 | $123,542,409 | 0.90% | ProShares |
| SPXS | Direxion Daily S&P 500 Bear 3X Shares | $436,682,083 | $12,237,745 | $47,251,203 | $179,604,702 | 1.02% | Direxion Funds |
| TSLQ | Tradr 2X Short TSLA Daily ETF | $320,318,706 | -$97,417,846 | $235,268,366 | $682,829,168 | 1.17% | AXS |
| TZA | Direxion Daily Small Cap Bear 3x Shares | $312,749,451 | $30,438,359 | $111,994,463 | $109,826,581 | 0.99% | Direxion Funds |
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Inverse Fund Share Class Flows
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