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U.S. stocks closed in the red on July 11, 2025. This drop came after President Donald Trump announced a 35% tariff on Canada and hinted at even higher duties globally, sparking renewed concerns over trade tensions. For the week, the S&P 500 was flat last week, the Dow Jones lost 1% and the Nasdaq Composite advanced about 0.5%.
Trump’s Tariff Announcement Roils Sentiment
President Trump escalated trade rhetoric after Thursday’s market close, attributing the Canadian tariff hike to concerns over fentanyl trafficking. He warned that further retaliation from Canada could provoke additional duties. Speaking to NBC News, Trump suggested even broader tariffs, potentially raising blanket duties on all countries to 15–20%, up from the current 10% level, as quoted on CNBC.
Markets Shrugged Off Initial Tariff Moves
Despite the tariff-related headlines, Thursday saw the S&P 500 climb 0.3% to a fresh record high, while the Nasdaq gained 0.1%. Investors appeared to discount concerns over newly announced 50% tariffs on Brazilian goods and imported copper.
However, sentiment shifted on Friday (i.e. July 11, 2025) as traders anticipated updates on potential European Union tariffs. This uncertainty weighed on equities. Finally, Trump announced 30% tariffs on EU and Mexico, starting Aug. 1
Markets Still Not Immune to Tariff Threats
Despite the flare-up in tariff announcements, markets have shown surprising resilience. Barclays noted in a Friday research note that the market’s optimism might be premature, as quoted on the above-mentioned CNBC article.
Barclays noted that the recent escalation in tariff announcements has caused relatively less disruption to the equity markets compared to the sharp selloffs seen in April, when President Donald Trump initially unveiled broad-based tariff measures.
The bank also cautioned that while investors may currently be optimistic amid signs of peak tariff uncertainty, the long-term effects on economic growth and inflation remain unclear.
Musk-Trump Tensions?
Tensions seemed to have escalated between President Donald Trump and Elon Musk, CEO of SpaceX and Tesla. Musk announced the launch of a new political movement, the “America Party,” criticizing both major U.S. parties and claiming.
Note that the House of Representatives narrowly passed Donald Trump's sweeping economic legislation, dubbed the "Big, Beautiful Bill," on July 3, 2025, following a dramatic and emotional debate. Clean energy provisions triggered backlash, particularly from Tesla CEO Elon Musk. The final bill abandoned the most extreme proposals but marked a clear shift away from federal support for renewable energy (read: House Passes Trump's "Big, Beautiful Bill": ETFs in Focus).
Bitcoin Hit $118K
Bitcoin soared to a new all-time high, surpassing $118,000 for the first time in its history. The explosive rally was driven by renewed institutional demand, robust spot Bitcoin ETF inflows and growing optimism surrounding global crypto adoption.
Bitcoin’s breakout also came just before Congress kicked off its “Crypto Week” on July 14, where lawmakers will debate key regulations that could shape the future of the industry. Among them is the GENIUS Act, which aims to establish a federal stablecoin framework, as quoted on the Yahoo Finance article (read: Bitcoin Hits New Highs: 6 Reasons Why the ETF Rally Could Continue).
Winning Leveraged ETFs in Focus
Against this backdrop, below we highlight a few winning leveraged exchange-traded funds (ETFs) of last week.
The AdvisorShares MSOS Daily Leveraged ETF seeks daily investment results that correspond to approximately two times the return of AdvisorShares Pure US Cannabis ETF. The fund charges 97 bps in fees. Cannabis stocks rose last week as Trump ally Gaetz indicated that President is in favor of backing rescheduling. The rescheduling would benefit veterans, scientific research on cannabis, and remove tax burdens for legal marijuana dispensaries.
Ether price gained about 13% last week on winning cryptocurrency momentum. The 2x Ether ETF seeks to provide daily investment results, before fees and expenses, that correspond generally to twice the performance of Ether for a single day. The fund charges 94 bps in fees.
Defiance Daily Target 2X Long SOFI ETF (SOFX - Free Report) – Up 29.6%
The Defiance Daily Target 2X Long SOFI ETF seeks daily leveraged investment results of two times the daily percentage change in the share price of SoFi Technologies, Inc. The expense ratio of the fund 1.29%. SOFI stock jumped about 14.3% last week.
The stock has performed well in recent times on revenue opportunities from the company’s recently-announced cryptocurrency trading platform and expanded student lending following legislative changes. Last week’s crypto rally went in favor of the stock.
Defiance Daily Target 2X Long RKLB ETF (RKLX - Free Report) – Up 18.4%
The Defiance Daily Target 2X Long RKLB ETF seeks daily leveraged investment results of two times the daily percentage change in the share price of Rocket Lab USA, Inc.The expense ratio of the fund 1.31%.
Rocket Lab Corp. (RKLB)surged 9% on July 7, 2025, as tensions escalated between former President Donald Trump and Elon Musk, CEO of SpaceX and Tesla. Amid the fallout, Rocket Lab—a key rival to SpaceX—rallied, with analysts betting big on its rising momentum in launch services, M&A activity, and the upcoming Neutron rocket.
GraniteShares 2x Long COIN Daily ETF (CONL - Free Report) – Up 17.7%
The GraniteShares 2x Long COIN Daily ETF seeks daily investment results, before fees and expenses, of 2 times the daily percentage change of the common stock of Coinbase Global Inc. The expense ratio of the fund 1.31%. The surge in this ETF is self-explanatory given the rally in Bitcoin last week.
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Best-Performing Leveraged ETFs of Last Week
U.S. stocks closed in the red on July 11, 2025. This drop came after President Donald Trump announced a 35% tariff on Canada and hinted at even higher duties globally, sparking renewed concerns over trade tensions. For the week, the S&P 500 was flat last week, the Dow Jones lost 1% and the Nasdaq Composite advanced about 0.5%.
Trump’s Tariff Announcement Roils Sentiment
President Trump escalated trade rhetoric after Thursday’s market close, attributing the Canadian tariff hike to concerns over fentanyl trafficking. He warned that further retaliation from Canada could provoke additional duties. Speaking to NBC News, Trump suggested even broader tariffs, potentially raising blanket duties on all countries to 15–20%, up from the current 10% level, as quoted on CNBC.
Markets Shrugged Off Initial Tariff Moves
Despite the tariff-related headlines, Thursday saw the S&P 500 climb 0.3% to a fresh record high, while the Nasdaq gained 0.1%. Investors appeared to discount concerns over newly announced 50% tariffs on Brazilian goods and imported copper.
However, sentiment shifted on Friday (i.e. July 11, 2025) as traders anticipated updates on potential European Union tariffs. This uncertainty weighed on equities. Finally, Trump announced 30% tariffs on EU and Mexico, starting Aug. 1
Markets Still Not Immune to Tariff Threats
Despite the flare-up in tariff announcements, markets have shown surprising resilience. Barclays noted in a Friday research note that the market’s optimism might be premature, as quoted on the above-mentioned CNBC article.
Barclays noted that the recent escalation in tariff announcements has caused relatively less disruption to the equity markets compared to the sharp selloffs seen in April, when President Donald Trump initially unveiled broad-based tariff measures.
The bank also cautioned that while investors may currently be optimistic amid signs of peak tariff uncertainty, the long-term effects on economic growth and inflation remain unclear.
Musk-Trump Tensions?
Tensions seemed to have escalated between President Donald Trump and Elon Musk, CEO of SpaceX and Tesla. Musk announced the launch of a new political movement, the “America Party,” criticizing both major U.S. parties and claiming.
Note that the House of Representatives narrowly passed Donald Trump's sweeping economic legislation, dubbed the "Big, Beautiful Bill," on July 3, 2025, following a dramatic and emotional debate. Clean energy provisions triggered backlash, particularly from Tesla CEO Elon Musk. The final bill abandoned the most extreme proposals but marked a clear shift away from federal support for renewable energy (read: House Passes Trump's "Big, Beautiful Bill": ETFs in Focus).
Bitcoin Hit $118K
Bitcoin soared to a new all-time high, surpassing $118,000 for the first time in its history. The explosive rally was driven by renewed institutional demand, robust spot Bitcoin ETF inflows and growing optimism surrounding global crypto adoption.
Bitcoin’s breakout also came just before Congress kicked off its “Crypto Week” on July 14, where lawmakers will debate key regulations that could shape the future of the industry. Among them is the GENIUS Act, which aims to establish a federal stablecoin framework, as quoted on the Yahoo Finance article (read: Bitcoin Hits New Highs: 6 Reasons Why the ETF Rally Could Continue).
Winning Leveraged ETFs in Focus
Against this backdrop, below we highlight a few winning leveraged exchange-traded funds (ETFs) of last week.
AdvisorShares MSOS Daily Leveraged ETF (MSOX - Free Report) – Up 40.4%
The AdvisorShares MSOS Daily Leveraged ETF seeks daily investment results that correspond to approximately two times the return of AdvisorShares Pure US Cannabis ETF. The fund charges 97 bps in fees. Cannabis stocks rose last week as Trump ally Gaetz indicated that President is in favor of backing rescheduling. The rescheduling would benefit veterans, scientific research on cannabis, and remove tax burdens for legal marijuana dispensaries.
2x Ether ETF (ETHU - Free Report) – Up 35.4%
Ether price gained about 13% last week on winning cryptocurrency momentum. The 2x Ether ETF seeks to provide daily investment results, before fees and expenses, that correspond generally to twice the performance of Ether for a single day. The fund charges 94 bps in fees.
Defiance Daily Target 2X Long SOFI ETF (SOFX - Free Report) – Up 29.6%
The Defiance Daily Target 2X Long SOFI ETF seeks daily leveraged investment results of two times the daily percentage change in the share price of SoFi Technologies, Inc. The expense ratio of the fund 1.29%. SOFI stock jumped about 14.3% last week.
The stock has performed well in recent times on revenue opportunities from the company’s recently-announced cryptocurrency trading platform and expanded student lending following legislative changes. Last week’s crypto rally went in favor of the stock.
Defiance Daily Target 2X Long RKLB ETF (RKLX - Free Report) – Up 18.4%
The Defiance Daily Target 2X Long RKLB ETF seeks daily leveraged investment results of two times the daily percentage change in the share price of Rocket Lab USA, Inc.The expense ratio of the fund 1.31%.
Rocket Lab Corp. (RKLB)surged 9% on July 7, 2025, as tensions escalated between former President Donald Trump and Elon Musk, CEO of SpaceX and Tesla. Amid the fallout, Rocket Lab—a key rival to SpaceX—rallied, with analysts betting big on its rising momentum in launch services, M&A activity, and the upcoming Neutron rocket.
GraniteShares 2x Long COIN Daily ETF (CONL - Free Report) – Up 17.7%
The GraniteShares 2x Long COIN Daily ETF seeks daily investment results, before fees and expenses, of 2 times the daily percentage change of the common stock of Coinbase Global Inc. The expense ratio of the fund 1.31%. The surge in this ETF is self-explanatory given the rally in Bitcoin last week.