The group still loses on average, just less than usual.
These ETFs decay by design, so most of them lose ground in an average month regardless. The useful question is not whether they fell in August, but whether they fell less than they usually do.
We compared 12 leveraged and inverse ETFs against their own history. For each one we took its average August return and subtracted its average return across all months. 8 of the 12 come out above their own average, by a median of 2.18 points.
The difference between individual ETFs is much larger. UVXY averages +1.02% in August versus −8.10% in a typical month, a 9.13-point edge, and has closed the month higher in 29% of years. SOXS and BOIL are close behind, and August is SOXS’s strongest month of the year.
On the other side, ZSL averages −6.45% in August against −2.01% in a typical month, a 4.44-point extra loss, and has declined in each of its last 3 Augusts.
UVXY and SOXS rank among the 6 strongest August performers, while ZSL, DUST and GLL sit among the 6 weakest.
| Ticker | August Avg | Avg Month | Gap | August Rank | August Higher | Augusts |
|---|---|---|---|---|---|---|
| UVXY | +1.02% | −8.10% | +9.13 | 2 of 12 | 29% | 14 |
| SOXS | +0.47% | −6.89% | +7.37 | 1 of 12 | 38% | 16 |
| BOIL | +4.51% | −2.65% | +7.16 | 2 of 12 | 64% | 14 |
| TZA | −0.63% | −3.91% | +3.27 | 4 of 12 | 47% | 17 |
| FAZ | −1.95% | −4.63% | +2.69 | 4 of 12 | 47% | 17 |
| SPXU | −0.84% | −3.47% | +2.62 | 2 of 12 | 41% | 17 |
| SQQQ | −2.84% | −4.58% | +1.74 | 4 of 12 | 44% | 16 |
| LABD | −2.02% | −2.03% | +0.01 | 8 of 12 | 45% | 11 |
| SCO | −1.15% | −0.72% | −0.43 | 8 of 12 | 53% | 17 |
| GLL | −4.52% | −1.10% | −3.41 | 11 of 12 | 41% | 17 |
| DUST | −4.71% | −1.03% | −3.68 | 10 of 12 | 33% | 15 |
| ZSL | −6.45% | −2.01% | −4.44 | 10 of 12 | 29% | 17 |
August is not the worst month of the year for any of the 12 ETFs, but for 3 of them it lands in the bottom 3.
Measured against its own average month, August is stronger for 8 of the 12 ETFs we tested, by a median of 2.18 points. Each ETF is measured only against its own history, never against the others.
The gap between individual ETFs is large. UVXY runs 9.13 points above its own average in August. ZSL runs 4.44 points below.
These samples range from 11 Augusts to 17, and a single strong or weak year can move the average. Use the numbers as context alongside other tools rather than as a standalone signal.
TradeIntel’s Seasonality tool breaks down the historical month-by-month return pattern for stocks, ETFs, and the broad market.
Open the Seasonality Tool
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