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The market for risky exchange-traded funds (ETFs) is experiencing unprecedented growth, with traders increasingly investing in inverse and turbocharged ETFs like the ProShares UltraPro QQQ. These funds offer triple the daily return of the tech-heavy Nasdaq but come with the risk of steeper losses. US-listed single-stock funds now command about $13.4 billion after they first set sail two years ago. Meanwhile, U.S. Treasuries are on track for their longest monthly winning streak since July 2021, with government bonds returning 1.5% in August and nearly 3% since the end of April. This marks the fourth consecutive month of gains for U.S. Treasuries, the longest such streak in over three years.
From Bloomberg: “… exchange-traded funds tracking government debt, corporate credit and equities have now risen in unison for four straight months. It’s the longest stretch of correlated gains since at least 2007. Up 25% in the past 12 months, the S&P 500 has never climbed this…
Your stat of the day... S&P 500 is up 25% in past 12 months, the biggest rise *ever* leading into first rate cut of an easing cycle. Make of this what you will. via @luwangnyc @emily_graffeo https://t.co/HmZndTy44f
The existence of single-stock funds and the various other breeds of high-octane derivatives ETFs speaks to the cultural shift underway in the $10 trillion industry https://t.co/oZpKtqBVcu
