Leveraged ETFs Have Wild Week

Last week we featured a list of the short and leveraged ETFs offered by ProShares.  Below we highlight the same list with their performance so far this week.  The major loser this week has been the Ultrashort Financials ETF (SKF).  When financials go down, this one goes up by twice as much.  When financials go up, this one goes down twice as much.  Owners of SKF have definitely had a painful week after some major reversals in many banks and brokers.  However, if they've owned it for awhile, they still have plenty of profits.  The Ultrashort Real Estate (SRS), Consumer Services (SCC) and Russell 2,000 Value (SJH) ETFs have seen the 2nd, 3rd, and 4th biggest declines this week.

And just as the Ultrashort have gone down, the Ultra long ETFs have had a tremendous week (with the exception of materials and energy).  The Ultra long Financials ETF (UYG) is up 12.75%, followed by the Ultra Semiconductor and Ultra Consumer Services.