DJ Shaw
2 min read
The Battleshares TSLA vs F ETF (ELON) delivered a 72% return in May, leading a group of options-heavy and crypto-focused funds that dominated the month's performance rankings among non-single-stock leveraged ETFs, according to FactSet data.
The actively managed ELON takes leveraged long positions in Tesla Inc. (TSLA) while shorting Ford Motor Co. (F), according to FactSet. Its strategy targets 180% to 220% exposure to Tesla while maintaining short exposure of 80% to 120% to Ford through a mix of direct equity investments, short sales, swaps and listed options.
The May rankings were dominated by funds using options strategies and alternative approaches, with Tesla's 25% monthly gain helping drive performance for several of the top performers.
Capturing second place with 66% returns is the DailyDelta Q100 Upside Option Strategy ETF (QUP), which purchases call options on the Nasdaq-100 Index, according to FactSet. Fund managers limit daily downside risk to 10% of net asset value while holding 90% of assets in short-term U.S. Treasury securities.
Rounding out the top three with 61% gains is the Simplify Bitcoin Strategy PLUS Income ETF (MAXI), which combines long Bitcoin futures exposure with option overlay strategies. Fund allocations include 100% economic exposure to Bitcoin while using up to 20% of assets for writing put and call option spreads.
Fourth place went to the Tesla-focused Simplify Volt TSLA Revolution ETF (TESL), which claimed 60% returns using a momentum-based algorithm that adjusts exposure between 80% and 150% based on market conditions, according to FactSet.
Nine spot Ethereum ETFs collectively tied for fifth place with 59% returns, including the iShares Ethereum Trust (ETHA), the Fidelity Ethereum Fund (FETH) and the Bitwise Ethereum ETF (ETHW), according to FactSet. Ethereum has most recently traded at around $2,617, up more than 43% over the past month, according to CoinMarketCap.
The ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ) delivered 58% returns through cash-settled Ether futures contracts, using a rolling strategy to optimize contract timing, according to FactSet.
Completing the rankings with 51% gains was the First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT), which invests in companies supporting the crypto industry and digital economy.
Source: FactSet
Editor's note: Check back tomorrow for the worst-performing ETFs in May.
