Leveraged ETFs Rally on SMCI Earnings, Robinhood AI Launch

Leveraged exchange-traded funds tied to Super Micro Computer and Robinhood Markets were among the top weekly gainers last week after company news and product launches moved their underlying shares on U.S. markets.

The Defiance Daily Target 2X Long SMCI ETF (SMCX), which seeks two times the daily price change of Super Micro, topped the list of leveraged winners after Super Micro reported stronger-than-expected earnings and raised guidance. Two leveraged products tied to Robinhood — HOOX (Defiance Daily Target 2X Long HOOD) and ROBN (T-Rex 2X Long HOOD) — each returned about 60% as Robinhood introduced new AI-powered Agentic Trading tools and an Agentic credit card.

Other leveraged and inverse products also posted notable weekly moves. T-Rex 2X Long DJT (DJTU) rose after shares of Trump Media & Technology Group moved higher amid retail trading activity, renewed visibility of Donald Trump’s social media presence and the appointment of interim CEO Kevin McGurn. The Defiance Daily Target 2X Long IONQ ETF (IONX) returned roughly 27% following a broad industry rally after a major U.S. government quantum funding announcement and growing investor interest in quantum computing prospects. MicroSectors’ 3X FANG & Innovation ETN (BULZ) gained more than 23% as large-cap technology names rallied on earnings and demand for AI-related hardware. Riot Platforms’ 2X ETF (RIOX) rose about 22% after the company reported strong early results from its new Data Center segment and announced a $400 million expansion at a Corsicana, Texas facility. AdvisorShares’ 2X cannabis ETF (MSOX) increased near 22% ahead of a scheduled DEA administrative hearing in late June. MicroSectors FANG+ 3X (FNGU) and GraniteShares 2X AMD (AMDL) posted weekly gains near 20% following broad tech strength and a strong first-quarter report from AMD that included a sizable forward revenue outlook tied to AI infrastructure demand.

Traders bought shares of the underlying companies during the week, which raised demand for the corresponding single-stock leveraged funds. Market activity reflected earnings reports, AI-related product rollouts, government funding news and heightened retail trading interest across several names.

Leveraged funds seek a multiple of a target’s daily return and typically reset each trading day. Because of daily resetting, performance over multi-day periods can differ materially from the simple multiple of the underlying security’s cumulative return. Some leveraged products achieve exposure through swap agreements or by issuing exchange-traded notes, which carry counterparty and structural differences from standard ETFs.