7 Best Leveraged ETFs for April 2026

Leveraged ETFs have the potential for high rewards, but they also carry high risk.

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Updated Apr 3, 2026 · 1 min read Written by Editor & Content Strategist + more + more Edited by Head of Content, Investing & Taxes Leveraged ETFs promise big rewards, but the risk may outweigh them. If you're looking to include leveraged ETFs in your investment portfolio, it's a good idea to approach them with caution.

Best-performing leveraged ETFs

Here are some of the best-performing leveraged equity ETFs. Note, as with any investment, those performing well today may not be performing well tomorrow. Ticker Company Performance (Month) MRVU Direxion Daily MRVL Bull 2X ETF 74.63% NIOG Leverage Shares 2X Long NIO Daily ETF 57.12% PBRG Leverage Shares 2X Long PBR Daily ETF 44.80% UCO ProShares Ultra Bloomberg Crude Oil 2x Shares 36.10% ARMG Leverage Shares 2X Long ARM Daily ETF 35.64% NRGU MicroSectors U.S. Big Oil 3 Leveraged ETNs 31.54% NETG Leverage Shares 2X Long NET Daily ETF 25.15% Source: Finviz. Data is current as of April 3, 2026, and is intended for informational purposes only.

Leveraged ETF definition

A leveraged ETF is an exchange-traded fund that tracks an existing index, but rather than match that index’s returns, it aims to increase them by two or three times. For example, say you had a traditional ETF that tracked the S&P 500 index. If the S&P 500 increased in value by 1%, your ETF would likely also increase by about 1% because it holds most of the same companies the index tracks. But if you had a leveraged S&P 500 ETF, that 1% gain could be magnified and instead be a 2% or 3% gain. While that’s great if the market is going up, it’s not so great if the market is going down. If the S&P 500 lost 1%, you could lose 2% or 3%. » Looking for general ETF data? Our list of the best ETFs » Looking for general ETF data? Brokerage firms

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on Charles Schwab's website

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on E*TRADE's website

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on Vanguard's website

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on Fidelity's website

How do leveraged ETFs work?

So, how do leveraged ETFs achieve those impressive returns (or magnified losses)? Leveraged ETFs borrow money — typically from a bank or investment firm — and invest that money into contract investments, such as futures or options. These types of investments are highly speculative and can pay out big. But they can also lose big. If the leveraged ETF you’re investing in is using a high-risk strategy, it’s possible that your losses could exceed the amount you invested. By contrast, if you invest in a traditional ETF, you won’t lose more than the amount you invested — and losing that entire investment is relatively rare with traditional ETFs. Leveraged ETFs are very risky and should be approached with caution.

Leveraged ETF expenses

Leveraged ETFs tend to have much more expensive fees than traditional ETFs. Leveraged ETF expense ratios can float around 0.95%. That’s a high price tag compared to most passive ETFs, which can have expense ratios as low as 0.10% or 0.20%. Leveraged ETFs may also charge interest and transaction fees, which can reduce your overall return. » Ready to get started? See our roundup of the best online brokers for ETF investing. » Ready to get started?

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