## [# Best Performing ETFs Can Bite You](/sections/index-investor-corner/best-performing-etfs-can-bite-you)
# Best Performing ETFs Can Bite You
The best-performing ETFs can offer plenty of risk.
[](/contributors/allan-roth)
[By Allan Roth](/contributors/allan-roth)
Sep 19, 2018
Edited by: Allan Roth
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I admit it: I wish I’d bought the [Direxion Daily Gold Miners Index Bear 3x Shares (DUST)](https://www.etf.com/DUST), which is up 72.63% so far this year. The fund is the top-performing ETF year-to-date as of Sept. 17 in the top 100 performing ETFs \[see below\].
DUST seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the NYSE Arca Gold Miners Index. In a [horrible year for precious metals and mining funds](https://www.etf.com/sections/index-investor-corner/why-vaneck-miners-etf-better-pick?nopaging=1), borrowing heavily to bet against precious metals and mining stocks won big.
Had I invested $100,000in the beginning of the year, I’d have made more than $72,000. The Monday-morning quarterback voice in my head is saying “buy” but I know it’s the emotional part of my brain speaking. It’s coming from the same place that tells me gold is dead, as [bitcoin is the new gold](https://www.etf.com/sections/index-investor-corner/allan-roth-my-brain-bitcoin). I could probably even convince myself I was being rational.
**Analyzing The Top 100**
In looking at this “top performing” list, I see many things in common. First, the ETFs take on a ton of risk. Rather than investing in broad holdings such as a total stock index fund, they’re all quite narrow. Many magnify the risk by borrowing to buy more and going short against the market. This isn’t investing, it’s merely speculation.
Next, the fund families with the most listings tend to be small, gathering very little in the way of investor assets. ProShares had the most funds in the top 100, at 17, with Direxion in second place, with 12.
ProShares has about $30 billion in assets, while Direxion had about $12.5 billion. Combined, they make up about 1% of the total fund assets at Vanguard (mutual funds and ETFs combined).
The reason they represent such a small percentage is because the strategy of maximizing risk doesn’t work. If you look at the 100 worst-performing ETFs \[see below\], both fund families score even “better” on this list, with ProShares at 23 and Direxion at 25.
In fact, the [Direxion Daily Gold Miners Index Bull 3x Shares (NUGT)](https://www.etf.com/NUGT) is No. 3, losing 60.23%. This means you’d need a 151% return just to break even. These fund families tend to be small because people are generally pretty wise.
Finally, funds on the list tend to be very expensive. DUST, for example, has a 1.08% annual expense ratio, and that doesn’t include the cost of leverage. That’s dozens of times more expensive than broader ETFs that don’t follow these gambling strategies.
**Math Here Not Your Friend**
Between the extreme volatility and the fees, the math is heavily against you. Consider that if you lose 90% of your money (as the [REX VolMAXX Short VIX Futures Strategy ETF (VMIN)](https://www.etf.com/VMIN) has so far this year), you need a 1,000% return to get back to even.
A much better approach than picking from a top-performing fund list is to select a broad, ultra-low-cost ETF such as the [Vanguard Total Stock Market ETF (VTI)](https://www.etf.com/VTI) that will never make a top-performing ETF list in any given year. That’s because they don’t take uncompensated risk.
But a funny thing happens over many years; they rise to the top. According to [Morningstar](https://performance.morningstar.com/funds/etf/total-returns.action?t=VTI®ion=USA&culture=en_US), VTI has bested 90% of ETFs over the past 15 years. And that top-decile performance would be even better if the [hundreds of ETFs that went defunct](https://www.etf.com/sections/features-and-news/2016-record-year-closures?nopaging=1) were included in the comparison. I think it’s safe to say those funds that closed weren’t the best performers.
My advice is to separate gambling and investing. In the long run, choosing an investment based on past performance is bad, but choosing based on top performance is even worse. You’d probably have better odds in Las Vegas and have more fun. These funds don't even give you comp drinks or show tickets.
*Allan Roth is the founder of [Wealth Logic LLC](https://daretobedull.com/), an hourly based financial planning firm. He is required by law to note that his columns are not meant as specific investment advice. Roth also writes for the Wall Street Journal, AARP and Financial Planning magazine. You can reach him at or follow him on Twitter at [Allan Roth (@Dull\_Investing) · Twitter](https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjHoq2CnrPSAhXKz1QKHX-kDVMQ6F4IHjAA&url=https%3A%2F%2Ftwitter.com%2FDull_Investing%3Fref_src%3Dtwsrc%255Egoogle%257Ctwcamp%255Eserp%257Ctwgr%255Eauthor&usg=AFQjCNGBTIpdEBExROzQdjlw-uxqs75bSw&sig2=r2kJOv3YheSeuW_T4zW6bw)*.
**100 Top-Performing ETFs**
TickerFundIssuerAUM ($M)YTD TRRDUSTDirexion Daily Gold Miners Bear 3x SharesDirexion115.2472.63DSLVVelocityShares 3x Inverse Silver ETNCredit Suisse15.4559.36JDSTDirexion Daily Junior Gold Miners Index Bear 3X SharesDirexion52.4153.71USOUUnited States 3x Oil FundUS Commodity Funds9.8953.31UWTVelocityShares 3x Long Crude Oil ETNCitiGroup180.0447.65GDXSProShares UltraShort Gold MinersProShares3.4446.46WTIUUBS ETRACS - ProShares Daily 3x Long Crude ETNUBS13.5944.90OILUProShares UltraPro 3x Crude Oil ETFProShares34.6243.65TQQQProShares UltraPro QQQProShares4,156.8142.95XWEBSPDR S&P Internet ETFState Street Global Advisors59.6142.43PSCHInvesco S&P SmallCap Health Care ETFInvesco 1,358.4342.42ZSLProShares UltraShort SilverProShares22.7641.17TECLDirexion Daily Technology Bull 3x SharesDirexion779.9840.83DFENDirexion Daily Aerospace & Defense Bull 3X SharesDirexion69.8636.75PSJInvesco Dynamic Software ETFInvesco 291.6235.76ARKGARK Genomic Revolution Multi-Sector ETFARK315.9235.36RETLDirexion Daily Retail Bull 3x SharesDirexion41.8533.85UCOProShares Ultra Bloomberg Crude OilProShares386.0033.75CUREDirexion Daily Healthcare Bull 3x SharesDirexion171.2233.70XHESPDR S&P Health Care Equipment ETFState Street Global Advisors780.8033.52XITKSPDR FactSet Innovative Technology ETFState Street Global Advisors73.4932.17PTHInvesco DWA Healthcare Momentum ETFInvesco 335.6731.55ROMProShares Ultra TechnologyProShares439.9331.54UCCProShares Ultra Consumer ServicesProShares32.5730.58XSWSPDR S&P Software & Services ETFState Street Global Advisors138.1630.58QLDProShares Ultra QQQProShares2,124.1930.51DGLDVelocityShares 3x Inverse Gold ETNCredit Suisse19.9430.03IGViShares North American Tech-Software ETFBlackRock2,136.8430.03FINXGlobal X FinTech ETFMirae Asset Global Investments401.4629.79URTYProShares UltraPro Russell2000ProShares168.4929.38TNADirexion Daily Small Cap Bull 3x SharesDirexion739.2528.87DTYSiPath US Treasury 10-Year Bear ETNBarclays Bank PLC67.6628.74IBUYAmplify Online Retail ETFAmplify561.9628.56PXMGInvesco Russell MidCap Pure Growth ETFInvesco 313.1128.05TAPRBarclays Inverse US Treasury Composite ETNBarclays Bank PLC17.5427.88DLBSiPath US Treasury Long Bond Bear ETNBarclays Bank PLC18.9527.72SAAProShares Ultra SmallCap600ProShares35.6427.71ARKKARK Innovation ETFARK1,390.1327.51FDNFirst Trust Dow Jones Internet Index FundFirst Trust9,691.5327.23PILLDirexion Daily Pharmaceutical & Medical Bull 3X SharesDirexion5.3226.82OLODB Crude Oil Long Exchange Traded NotesDeutsche Bank7.2526.69FBGXUBS AG FI Enhanced Large Cap Growth ETNUBS1,759.6226.63BZQProShares UltraShort MSCI Brazil CappedProShares32.4126.59FLGECredit Suisse FI Large Cap Growth Enhanced ETNCredit Suisse2,409.8026.57IHIiShares U.S. Medical Devices ETFBlackRock3,008.6626.54RXLProShares Ultra Health CareProShares160.3025.68IHFiShares U.S. Healthcare Providers ETFBlackRock936.0325.43HACKETFMG Prime Cyber Security ETFETF Managers Group1,830.0725.28PXQInvesco Dynamic Networking ETFInvesco 79.3125.07PTFInvesco DWA Technology Momentum ETFInvesco 162.1824.79JSMLJanus Henderson Small Cap Growth Alpha ETFJanus Henderson44.0324.46DBOInvesco DB Oil FundInvesco 375.3324.43EDZDirexion Daily MSCI Emerging Markets Bear 3X SharesDirexion84.3824.32CHADDirexion Daily CSI 300 China A Share Bear 1X SharesDirexion124.3224.32PXSGInvesco Russell 2000 Pure Growth ETFInvesco 106.9523.84ARKWARK Web x.0 ETFARK683.2623.51FXLFirst Trust Technology AlphaDEX FundFirst Trust2,337.8622.99SLIMObesity ETFJanus Henderson11.6422.94FYCFirst Trust Small Cap Growth AlphaDEX FundFirst Trust476.8422.70XHSSPDR S&P Health Care Services ETFState Street Global Advisors98.3122.40CIBRFirst Trust NASDAQ Cybersecurity ETFFirst Trust827.9422.15OLEMiPath Pure Beta Crude Oil ETNBarclays Bank PLC2.8321.80SKYYFirst Trust Cloud Computing ETFFirst Trust2,038.2821.71IGMiShares North American Tech ETFBlackRock1,686.5921.70DZZDB Gold Double Short Exchange Traded NotesDeutsche Bank26.0821.64USLUnited States 12 Month Oil Fund LPUS Commodity Funds78.7721.56VGTVanguard Information Technology ETFVanguard22,527.4021.56MILNGlobal X Millennials Thematic ETFMirae Asset Global Investments31.9921.39IPAYETFMG Prime Mobile Payments ETFETF Managers Group495.7121.35SMLLDirexion Daily Small Cap Bull 2X Shares ETFDirexion4.1321.26SLYGSPDR S&P 600 Small Cap Growth ETFState Street Global Advisors2,469.7321.05IJTiShares S&P Small-Cap 600 Growth ETFBlackRock7,306.7320.97PBEInvesco Dynamic Biotechnology & Genome ETFInvesco 282.5020.96VIOGVanguard S&P Small-Cap 600 Growth ETFVanguard551.9720.84UWMProShares Ultra Russell2000ProShares259.0520.64USOUnited States Oil Fund LPUS Commodity Funds1,631.5720.48BNOUnited States Brent Oil Fund LPUS Commodity Funds98.3420.44XKFSSPDR Kensho Future Security ETFState Street Global Advisors9.0120.40JSMDJanus Henderson Small/Mid Cap Growth Alpha ETFJanus Henderson54.1820.29OILBiPath Series B S&P GSCI Crude Oil ETNBarclays Bank PLC102.5019.99PPSCPortfolioPlus S&P Small Cap ETFDirexion8.5519.96UPROProShares UltraPro S&P500ProShares1,577.0319.96FBTFirst Trust NYSE Arca Biotechnology Index FundFirst Trust2,245.3219.83SPXLDirexion Daily S&P 500 Bull 3x SharesDirexion947.2719.80RTHVanEck Vectors Retail ETFVanEck119.0019.79CLIXProShares Long Online/Short Stores ETFProShares64.9919.64XARSPDR S&P Aerospace & Defense ETFState Street Global Advisors1,552.2719.60ENTRERShares Entrepreneur 30 ETFEntrepreneurShares, LLC82.6919.42OILKProShares K-1 Free Crude Oil Strategy ETFProShares9.0119.35GLLProShares UltraShort GoldProShares28.1719.30BUZBuzz US Sentiment Leaders ETFALPS11.4819.23BEMOAptus Behavioral Momentum ETFAptus Capital Advisors84.0918.95BOSSGlobal X Founder-Run Companies ETFMirae Asset Global Investments4.1518.88FTECFidelity MSCI Information Technology Index ETFFidelity2,337.9618.80ALFAAlphaClone Alternative Alpha ETFExchange Traded Concepts25.5218.47JKKiShares Morningstar Small-Cap Growth ETFBlackRock215.0218.39PXLGInvesco Russell Top 200 Pure Growth ETFInvesco 256.7718.37RZGInvesco S&P Smallcap 600 Pure Growth ETFInvesco 374.4618.23DWASInvesco DWA SmallCap Momentum ETFInvesco 456.8118.02FXHFirst Trust Health Care AlphaDEX FundFirst Trust1,247.9817.97text
TickerFundIssuerAUM ($M)YTD TRRVMINREX VolMAXX Short VIX Futures Strategy ETFExchange Traded Concepts10.21-90.22SVXYProShares Short VIX Short-Term Futures ETFProShares398.73-88.79NUGTDirexion Daily Gold Miners Index Bull 3x SharesDirexion1,109.45-60.23BRZUDirexion Daily MSCI Brazil Bull 3X SharesDirexion298.15-59.53JNUGDirexion Daily Junior Gold Miners Index Bull 3X SharesDirexion736.92-57.32USODUnited States 3x Short Oil FundUS Commodity Funds1.03-54.58DWTVelocityShares 3x Inverse Crude Oil ETNCitiGroup176.57-53.74WTIDUBS ETRACS - ProShares Daily 3x Inverse Crude ETNUBS2.91-52.97OILDProShares UltraPro 3x Short Crude Oil ETFProShares25.89-52.94SHNYDirexion Daily Silver Miners Index Bull 2X SharesDirexion3.74-49.90TURiShares MSCI Turkey ETFBlackRock412.90-49.04USLVVelocityShares 3x Long Silver ETNCredit Suisse284.62-48.79TVIXVelocityShares Daily 2x VIX Short-Term ETNCredit Suisse478.63-47.09DRIPDirexion Daily S&P Oil & Gas Exp. & Prod. Bear 3X SharesDirexion48.07-46.07NAILDirexion Daily Homebuilders & Supplies Bull 3X SharesDirexion46.77-45.09LABDDirexion Daily S&P Biotech Bear 3X SharesDirexion69.47-43.60CHAUDirexion Daily CSI 300 China A Share Bull 2X SharesDirexion66.80-43.43TECSDirexion Daily Technology Bear 3X SharesDirexion29.12-43.41SQQQProShares UltraPro Short QQQProShares566.70-43.40KORUDirexion MSCI Daily South Korea Bull 3X SharesDirexion16.53-42.61CWEBDirexion Daily CSI China Internet Index Bull 2x SharesDirexion59.36-41.94UBRProShares Ultra MSCI Brazil CappedProShares6.99-41.66GDXXProShares Ultra Gold MinersProShares7.17-41.66LBJDirexion Daily Latin America Bull 3X SharesDirexion12.08-40.21SOXSDirexion Daily Semiconductor Bear 3x SharesDirexion73.99-39.15EDCDirexion Daily MSCI Emerging Markets Bull 3x SharesDirexion242.23-38.17REMXVanEck Vectors Rare Earth/Strategic Metals ETFVanEck128.82-37.56YINNDirexion Daily FTSE China Bull 3X SharesDirexion305.62-37.51DTODB Crude Oil Double Short Exchange Traded NotesDeutsche Bank18.57-37.40BDDDB Base Metals Double Long Exchange Traded NotesDeutsche Bank1.97-36.94SCOProShares UltraShort Bloomberg Crude OilProShares157.82-36.56ZBIOProShares UltraPro Short Nasdaq BiotechnologyProShares2.80-34.89AGQProShares Ultra SilverProShares181.32-33.03SRTYProShares UltraPro Short Russell2000ProShares59.10-32.39TZADirexion Daily Small Cap Bear 3x SharesDirexion315.24-31.77HOMLETRACS Monthly Reset 2xLeveraged ISE Exclusively Homebuilders ETNUBS4.11-31.24REWProShares UltraShort TechnologyProShares2.50-31.11CNXTVanEck Vectors ChinaAMC SME-ChiNext ETFVanEck18.25-31.04BRFVanEck Vectors Brazil Small-Cap ETFVanEck68.10-30.32SCIFVanEck Vectors India Small-Cap Index ETFVanEck204.29-29.99QIDProShares UltraShort QQQProShares261.59-29.91RUSLDirexion Daily Russia Bull 3x SharesDirexion181.47-29.58ASHSXtrackers Harvest CSI 500 China A-Shares Small Cap ETFDeutsche Bank21.25-29.54SCCProShares UltraShort Consumer ServicesProShares1.06-29.48EWZSiShares MSCI Brazil Small-Cap ETFBlackRock45.06-28.89UGLDVelocityShares 3x Long Gold ETNCredit Suisse126.61-27.65SCINColumbia India Small Cap ETFColumbia18.41-27.57AGTiShares MSCI Argentina & Global Exposure ETFBlackRock21.35-27.40EVIXVelocityShares 1x Long VSTOXX Futures ETNUBS3.53-27.36EUFLDirexion Daily MSCI European Financials Bull 2X SharesDirexion8.64-27.26ARGTGlobal X MSCI Argentina ETFMirae Asset Global Investments86.40-27.16SGDJSprott Junior Gold Miners ETFALPS94.64-27.08DYYDB Commodity Double Long Exchange Traded NotesDeutsche Bank1.54-26.84KGRNKraneShares MSCI China Environment Index ETFKraneShares5.56-26.75SPXSDirexion Daily S&P 500 Bear 3x SharesDirexion277.09-26.49SPXUProShares UltraPro Short S&P500ProShares464.72-26.48SDDProShares UltraShort SmallCap600ProShares1.97-26.31SILGlobal X Silver Miners ETFMirae Asset Global Investments340.48-26.19INDLDirexion Daily MSCI India Bull 3X SharesDirexion89.19-26.04EZAiShares MSCI South Africa ETFBlackRock354.38-25.76XINASPDR MSCI China A Shares IMI ETFState Street Global Advisors3.61-25.75EETProShares Ultra MSCI Emerging MarketsProShares26.89-25.31DAGDB Agriculture Double Long ETNDeutsche Bank5.05-25.20EXIVVelocityShares 1x Daily Inverse VSTOXX Futures ETNUBS14.22-25.10SGDMSprott Gold Miners ETFALPS130.49-25.01RXDProShares UltraShort Health CareProShares0.80-24.80SLVPiShares MSCI Global Silver Miners ETFBlackRock48.05-24.52RINGiShares MSCI Global Gold Miners ETFBlackRock226.28-24.16CQQQInvesco China Technology ETFInvesco 379.32-24.07GASLDirexion Daily Natural Gas Related Bull 3x SharesDirexion31.63-23.91XPPProShares Ultra FTSE China 50ProShares29.61-23.83COPXGlobal X Copper Miners ETFMirae Asset Global Investments69.55-23.80ASHRXtrackers Harvest CSI 300 China A-Shares ETFDeutsche Bank735.94-23.72PEKVanEck Vectors ChinaAMC CSI 300 ETF USDVanEck53.85-23.68RSXJVanEck Vectors Russia Small-Cap ETFVanEck38.69-23.59WDRWDirexion Daily Regional Banks Bear 3X SharesDirexion2.38-23.51SMDDProShares UltraPro Short MidCap400ProShares1.70-23.33MIDZDirexion Daily Mid Cap Bear 3X SharesDirexion3.22-23.16ASHXXtrackers MSCI China A Inclusion Equity ETFDeutsche Bank11.06-22.97PSAUInvesco Global Gold & Precious Metals ETFInvesco 23.07-22.88SDOWProShares UltraPro Short Dow30ProShares191.75-22.55UGAZVelocityShares 3x Long Natural Gas ETNCredit Suisse361.08-22.49SILJETFMG Prime Junior Silver ETFETF Managers Group45.57-22.47ERYDirexion Daily Energy Bear 3X SharesDirexion35.86-22.29KBAKraneShares Bosera MSCI China A Share ETFKraneShares321.13-22.27FBZFirst Trust Brazil AlphaDEX FundFirst Trust6.82-21.95CNYAiShares MSCI China A ETFBlackRock13.66-21.92BISProShares UltraShort Nasdaq BiotechnologyProShares29.63-21.90TWMProShares UltraShort Russell2000ProShares95.55-21.76UVXYProShares Ultra VIX Short-Term Futures ETFProShares564.45-21.74EUXLDirexion Daily EURO STOXX 50 Bull 3X SharesDirexion3.04-21.74ECONColumbia Emerging Markets Consumer ETFColumbia478.85-21.65CHIQGlobal X China Consumer ETFMirae Asset Global Investments146.86-21.59SSGProshares Ultrashort SemiconductorsProShares3.42-21.46CPERUnited States Copper Index FundUS Commodity Funds10.10-21.27GDXVanEck Vectors Gold Miners ETFVanEck7,989.71-21.17NGEGlobal X MSCI Nigeria ETFMirae Asset Global Investments40.03-21.10EMCGWisdomTree Emerging Markets Consumer Growth FundWisdomTree34.04-20.98GOEXGlobal X Gold Explorers ETFMirae Asset Global Investments32.48-20.74EIDOiShares MSCI Indonesia ETFBlackRock368.57-20.67**100 Bottom-Performing ETFs**
[ Allan Roth ](/contributors/allan-roth)
Allan Roth is founder of Wealth Logic, an hourly based financial planning and investment advisory firm. He also benchmarks portfolio performance for… [View Bio](/contributors/allan-roth)
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