Top-Performing Leveraged ETFs This Week: Which Best ETF Choices Delivered Results?

Last week’s market dynamics presented a mixed picture for equity indices, with the S&P 500 declining 0.6%, the Dow Jones climbing 1.1%, and the Nasdaq sliding 1.6%. The technology sector bore the brunt of the selloff, with weakness cascading through major indices and dragging down specialized tech-focused funds. The Roundhill Magnificent Seven ETF MAGS experienced a 1.7% drop, while State Street Technology Select Sector SPDR ETF XLK fell 2.5%, reflecting broader tech sector challenges.

What Drove the Tech Weakness?

The technology sector’s struggles stemmed from significant earnings disappointments. Oracle ORCL shares plunged 14% following a revenue miss that reverberated through connected AI infrastructure names including NVIDIA and Micron. Meanwhile, Broadcom AVGO declined roughly 11% despite solid earnings and forward guidance—a performance that underscores lingering investor concerns about elevated capital expenditures and the timing of AI-driven revenue realization.

Federal Reserve’s Final Cut of the Year

The Federal Reserve completed its final rate reduction of 2025 last week, bringing the benchmark federal funds rate to 3.5%-3.75% following a closely contested vote. This action leaves policymakers navigating a softer labor market environment while inflation remains approximately one percentage point above the Fed’s 2% target. After three quarter-point cuts distributed throughout 2025, the Fed’s 2026 projection signals restraint, with consensus pointing to just a single rate cut next year—aligning with September’s forward guidance.

The Best ETF Winners: Leveraged Funds That Surged

Amid broader market volatility, several leveraged exchange-traded funds demonstrated exceptional performance. Here are the best ETF performers from last week:

Cannabis Rally Drives Gains: MSOX Surges 94.1%

AdvisorShares MSOS Daily Leveraged ETF MSOX rocketed 94.1% higher, capturing explosive momentum in cannabis equities. The catalyst: December 12 reports indicating President Trump’s intention to reschedule marijuana from Schedule I to Schedule III at the federal level. This policy shift sparked broad-based enthusiasm across major cannabis operators, with Amplify Seymour Cannabis ETF CNBS rallying over 54% on December 1 alone—marking its strongest single day on record.

Space Economy Tailwinds Propel RKLX Up 53.0%

Defiance Daily Target 2X Long RKLB ETF RKLX climbed 53%, riding momentum in aerospace equities. Rocket Lab Corp RKLB itself surged 22.8% as investor focus intensified on the broader space economy. The catalyst was multifaceted: speculation around a potential $1.5 trillion SpaceX initial public offering slated for 2026 lifted sentiment across the entire sector. Additionally, Rocket Lab’s successful transition toward next-generation Neutron rocket capabilities and recently secured funding from the Canadian Space Agency provided fundamental support.

Natural Gas Weakness Translates to 52.7% Gain for KOLD

ProShares UltraShort Bloomberg Natural Gas KOLD advanced 52.7% as U.S. natural gas futures fell to six-week lows. Warmer weather forecasts, strong regional production reaching 109.7 billion cubic feet per day, and storage levels sitting 3% above seasonal averages all weighed on prices. Despite an outsized 177 bcf weekly draw driven by brief extreme cold, ample inventories and robust supply continued exerting downward pressure.

Defense Tech Partnerships Support VOYX’s 33.0% Advance

Tradr 2X Long VOYG Daily ETF VOYX delivered a 33% return as Voyager VOYG stock climbed 10.6%. The space and defense technology specialist benefited from expanding military collaboration, particularly after securing a $21 million contract from a U.S. Air Force research division for AI-enabled intelligence, surveillance, and reconnaissance systems.

Carvana’s Index Inclusion Catalyzes CVNX’s 27.4% Jump

Defiance Daily Target 2X Long CVNA ETF CVNX gained 27.4% as Carvana Co. CVNA advanced 5.4%. The principal catalyst was the company’s scheduled December 22 inclusion in the S&P 500 index. The leading online platform for used car transactions continues attracting capital on the strength of its scalable operating model, disciplined cost management, and substantial addressable market opportunity.

Takeaway on Best ETF Selections

Last week’s winners demonstrated how sector-specific catalysts—policy shifts, technological breakthroughs, and market structure changes—can drive outsized leveraged ETF performance. These best ETF examples highlight the importance of monitoring macro trends, industry developments, and corporate-specific milestones when constructing a diversified portfolio strategy.