Nvidia-Focused NVDX Tops Best ETFs of Q1
The T-Rex fund has risen 205% this year.
With one quarter in the books, stocks are off to a hot start in 2024. The S&P 500 climbed 10.6% in the year-to-date period through March 31—even better than the 7.5% return it saw in the same period a year ago (a year in which the index ended up 26.3%).
As always, there are some ETFs doing better than the broader markets and some doing worse.
In this article, we’ll take a look at the 10 best performing ETFs of the year.
Of the 10 best performers, nine are leveraged, and three are single-stock ETFs tied to the high-flying A.I. chip company, Nvidia.
The T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) is the No.1 best-performing ETF this year, with a whopping 205% return so far this year.
The only non-leveraged ETF among the top 10 is the Grayscale Bitcoin Trust (GBTC). GBTC’s 82.5% gain beats out the gains for other spot bitcoin ETFs— like the 52% return for the iShares Bitcoin Trust (IBIT)— because it was trading in non-ETF form at the start of the year, while the other funds didn’t launch until Jan. 11.
Bonds, on the other hand, aren’t doing so hot. The iShares Core US Aggregate Bond ETF (AGG) was down 1.5% during the first quarter, giving up some of last year’s 5.7% gain.
Best ETFs of Q1 2024 (Including Leveraged)
Name | Ticker | YTD Return |
T-Rex 2X Long NVIDIA Daily Target ETF | NVDX | +205.08% |
GraniteShares 2x Long NVDA Daily ETF | NVDL | +177.90% |
Direxion Daily NVDA Bull 1.5X Shares | NVDU | +137.11% |
2x Bitcoin Strategy ETF | BITX | +133.96% |
GraniteShares 2x Long COIN Daily ETF | CONL | +126.52% |
Grayscale Bitcoin Trust BTC | GBTC | +82.47% |
ProShares Ultra Semiconductors | USD | +82.21% |
T-Rex 2X Inverse Tesla Daily Target ETF | TSLZ | +74.56% |
AdvisorShares MSOS 2x Daily ETF | MSOX | +73.48% |
GraniteShares 2x Long META Daily ETF | FBL | +69.35% |
Data as of March 31, 2024.
If you strip out leveraged and inverse funds, GBTC is obviously the top performing ETF of the year so far, and it’s followed by various bitcoin and ether futures ETFs (the other spot bitcoin ETFs aren’t included in the running since they weren’t trading at the start of the year).
The only non-crypto-related ETF among the 10 best-performing nonleveraged ETFs is the YieldMax NVDA Option Income Strategy ETF (NVDY), which is up almost 55%.
NVDY employs a covered call ETF strategy on shares of Nvidia.
Best ETFs of Q1 2024 (Excluding Leveraged)
Name | Ticker | YTD Return |
Grayscale Bitcoin Trust BTC | GBTC | +82.47% |
ProShares Bitcoin Strategy ETF | BITO | +64.41% |
Bitwise Bitcoin Strategy Optimum Roll ETF | BITC | +64.02% |
Simplify Bitcoin Strategy PLUS Income ETF | MAXI | +63.95% |
Hashdex Bitcoin ETF | DEFI | +60.66% |
Proshares Bitcoin & Ether Strategy Etf | BETH | +60.52% |
Valkyrie Bitcoin and Ether Strategy ETF | BTF | +58.84% |
Proshares Bitcoin & Ether Equal Weight Strategy Etf | BETE | +56.89% |
Bitwise Bitcoin And Ether Equal Weight Strategy Etf | BTOP | +54.97% |
YieldMax NVDA Option Income Strategy ETF | NVDY | +54.72% |
Data as of March 31, 2024