We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Short leveraged ETFs on quantum stocks soared as risk appetite faded on hawkish Fed chair signals.
Natural gas leveraged ETFs jumped as cold weather and strong LNG demand kept prices elevated.
Inverse gold miner ETFs rallied after a sharp pullback in precious metals on a stronger dollar.
Wall Street offered a downbeat-to-moderate performance last week. The S&P 500 added 0.34%, the Dow Jones lost 0.4% and the Nasdaq was off 0.2%. The key event of the week was President Trump’s announcement of former Fed governor Kevin Warsh’s nomination as the next Fed chair.
If he makes it through Senate confirmation, Warsh would take over when Powell's leadership term ends in May. Appointed by former Republican President George W. Bush, Warsh served as a Fed governor from 2006 to 2011, a tenure that earned him the status of an inflation hawk.
An inflation hawk is generally focused on fighting inflation, even if it means keeping interest rates high. However, more recently, Warsh has promoted interest rate cuts. The move is in line with Trump’s push for lower borrowing costs.
Slump in Precious Metal Market
Precious metals like gold and silver plunged sharply on Jan. 30, 2026, in a dramatic pullback from this year’s and last year’s powerful rally. The dollar strengthened amid the Warch nomination, which has probably played spoilsport for the commodity segment.
Slide in Quantum Computing Shares
Quantum computing stocks slumped massively last week, with several pure-play companies joining the broader technology sector’s sell-off. There were sharp declines in stocks for major players like Rigetti Computing (RGTI), IonQ (IONQ - Free Report) and D-Wave Quantum (QBTS - Free Report) .
The quantum segment has been thriving with acquisitions and big-ticket orders. But a rotation out of high-volatility speculative tech sector thanks to the nomination of a perceived hawkish new Fed chair has probably hit the space hard.
Natural Gas Keeping Going Higher
U.S. natural gas prices continued to soar as cold weather persisted and liquefied natural gas (LNG) demand stayed firm. Flows to LNG export plants increased. The price gain came despite forecasts for milder weather and relatively lower heating demand, as well as a rebound in U.S. output from frozen wells, as quoted on Trading Economics. Overall, the weather is expected to remain colder than normal through Feb. 14, keeping natural gas prices red-hot.
Leveraged ETF Winners
The above-mentioned backdrop determined the winners and losers in the exchange-traded fund (ETF) industry. Since quantum computing and mining stocks slumped, ETFs with a bearish view on those areas shot up last week, while the leveraged bullish natural gas ETF surged. Here are the winners.
Defiance Daily Target 2x Short RGTI ETF (RGTZ - Free Report) – Up 54.1%
The Defiance Daily Target 2x Short RGTI ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of Rigetti Computing, Inc. RGTI stock plunged over 22% last week. The fund charges 129 bps in fees.
ProShares Ultra Bloomberg Natural Gas (BOIL - Free Report) – Up 43.7%
The ProShares Ultra Bloomberg Natural Gas seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Natural Gas Subindex. The fund charges 95 bps in fees.
Defiance Daily Target 2x Short QBTS ETF (QBTZ - Free Report) – Up 37.6%
D-Wave Quantum (QBTS - Free Report) shares retreated about 17% last week.The Defiance Daily Target 2x Short QBTS ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of D-Wave Quantum Inc. The fund charges 129 bps in fees.
SPDR Gold Trust (GLD - Free Report) lost 4.7% last week.The MicroSectors Gold Miners -3X Inverse Leveraged ETNs is linked to a three times inverse leveraged participation in the performance of the S-Network MicroSectors Gold Miners Index. GDXD charges 95 bps in fees.
Defiance Daily Target 2x Short PLTR ETF (PLTZ - Free Report) – Up 37.8%
The Defiance Daily Target 2x Short PLTR ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of Palantir Technologies Inc. The PLTR stock slumped 12.9% last week. PLTZ charges 129 bps in fees.
Defiance Daily Target 2x Short IONQ ETF (IONZ - Free Report) – Up 29.2%
IONQ Inc (IONQ - Free Report) stock dropped 17% last week. The Defiance Daily Target 2x Short IONQ ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of IonQ Inc. IONZ charges 129 bps in fees.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Best-Performing Leveraged ETFs of Last Week
Key Takeaways
Wall Street offered a downbeat-to-moderate performance last week. The S&P 500 added 0.34%, the Dow Jones lost 0.4% and the Nasdaq was off 0.2%. The key event of the week was President Trump’s announcement of former Fed governor Kevin Warsh’s nomination as the next Fed chair.
If he makes it through Senate confirmation, Warsh would take over when Powell's leadership term ends in May. Appointed by former Republican President George W. Bush, Warsh served as a Fed governor from 2006 to 2011, a tenure that earned him the status of an inflation hawk.
An inflation hawk is generally focused on fighting inflation, even if it means keeping interest rates high. However, more recently, Warsh has promoted interest rate cuts. The move is in line with Trump’s push for lower borrowing costs.
Slump in Precious Metal Market
Precious metals like gold and silver plunged sharply on Jan. 30, 2026, in a dramatic pullback from this year’s and last year’s powerful rally. The dollar strengthened amid the Warch nomination, which has probably played spoilsport for the commodity segment.
Slide in Quantum Computing Shares
Quantum computing stocks slumped massively last week, with several pure-play companies joining the broader technology sector’s sell-off. There were sharp declines in stocks for major players like Rigetti Computing (RGTI), IonQ (IONQ - Free Report) and D-Wave Quantum (QBTS - Free Report) .
The quantum segment has been thriving with acquisitions and big-ticket orders. But a rotation out of high-volatility speculative tech sector thanks to the nomination of a perceived hawkish new Fed chair has probably hit the space hard.
Natural Gas Keeping Going Higher
U.S. natural gas prices continued to soar as cold weather persisted and liquefied natural gas (LNG) demand stayed firm. Flows to LNG export plants increased. The price gain came despite forecasts for milder weather and relatively lower heating demand, as well as a rebound in U.S. output from frozen wells, as quoted on Trading Economics. Overall, the weather is expected to remain colder than normal through Feb. 14, keeping natural gas prices red-hot.
Leveraged ETF Winners
The above-mentioned backdrop determined the winners and losers in the exchange-traded fund (ETF) industry. Since quantum computing and mining stocks slumped, ETFs with a bearish view on those areas shot up last week, while the leveraged bullish natural gas ETF surged. Here are the winners.
Defiance Daily Target 2x Short RGTI ETF (RGTZ - Free Report) – Up 54.1%
The Defiance Daily Target 2x Short RGTI ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of Rigetti Computing, Inc. RGTI stock plunged over 22% last week. The fund charges 129 bps in fees.
ProShares Ultra Bloomberg Natural Gas (BOIL - Free Report) – Up 43.7%
The ProShares Ultra Bloomberg Natural Gas seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Natural Gas Subindex. The fund charges 95 bps in fees.
Defiance Daily Target 2x Short QBTS ETF (QBTZ - Free Report) – Up 37.6%
D-Wave Quantum (QBTS - Free Report) shares retreated about 17% last week.The Defiance Daily Target 2x Short QBTS ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of D-Wave Quantum Inc. The fund charges 129 bps in fees.
MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD - Free Report) – Up 34.5%
SPDR Gold Trust (GLD - Free Report) lost 4.7% last week.The MicroSectors Gold Miners -3X Inverse Leveraged ETNs is linked to a three times inverse leveraged participation in the performance of the S-Network MicroSectors Gold Miners Index. GDXD charges 95 bps in fees.
Defiance Daily Target 2x Short PLTR ETF (PLTZ - Free Report) – Up 37.8%
The Defiance Daily Target 2x Short PLTR ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of Palantir Technologies Inc. The PLTR stock slumped 12.9% last week. PLTZ charges 129 bps in fees.
Defiance Daily Target 2x Short IONQ ETF (IONZ - Free Report) – Up 29.2%
IONQ Inc (IONQ - Free Report) stock dropped 17% last week. The Defiance Daily Target 2x Short IONQ ETF seeks daily inverse investment results, before fees and expenses, of -2 times the daily percentage change in the share price of IonQ Inc. IONZ charges 129 bps in fees.