CARD, an ETN that tracks -3x the daily price movements of US-listed companies in the auto industry, was the top-performing inverse ETF last week, with a 24% gain. The auto industry declined due to inflation and mixed consumer sentiments, as consumers took out lower auto loans. Additionally, the rise in the yield on the 10-year Treasury note could lead to higher consumer borrowing costs. YANG, which offers 3x daily short leverage to the FTSE China 50 Index, was another top performer, returning over 17% last week. Chinese equities faced challenges due to geopolitical risks, a slowing real estate sector, and lower growth. TSLQ and TSLS, both inverse funds focused on Tesla stock, also made the list with around 17% weekly gains. Tesla’s stock fell after a weak earnings report and pessimistic comments from the CEO. ProShares UltraPro Short 20+ Year Treasury and TMV, which offer short leveraged exposure to Treasury bonds, performed well as Treasury yields rose. KOLD, an ETF that provides 2x daily inverse leveraged exposure to natural gas, returned over 16% as natural gas prices fell due to higher production volumes and supplies. DRV, an ETF offering -3x daily leverage to a U.S. REITs index, was one of the top performers, returning more than 15%. The real estate sector suffered a decline of around 6% last week, driven by high Treasury yields and fears of a hawkish Fed. SSG and SOXS, both inverse ETFs focused on the semiconductor sector, gained more than 13% last week. The semiconductor segment experienced a decline of over 6% due to Hamas attacks on Israel, leading to large tech companies pulling out of a major web tech summit. Overall, the semiconductor sector fell by around 6% and the technology sector was down by around 3.6% last week, influenced by rising U.S. Treasury yields and conflict in Israel.