5 Best Performing Leveraged ETFs in 2022

2. ProShares Ultra Oil & Gas (NYSEARCA:DIG)

Leverage: 2x

YTD Return as of December 9: 100.25%

As of December 9, the ProShares Ultra Oil & Gas (NYSEARCA:DIG) has gained 100.25% year to date and is one of the best performing leveraged ETFs in 2022. The fund has outperformed the S&P 500 by over 118%. The fund aims to deliver twice the daily performance of the Dow Jones U.S. Oil & Gas Index and uses a full replication technique. The fund has an expense ratio of 0.95% and $173.36 million in assets under management.

The ProShares Ultra Oil & Gas (NYSEARCA:DIG) has 51 holdings and a top ten holdings concentration of 168.81%. One of the fund’s top holdings is oil giant Exxon Mobil Corporation (NYSE:XOM). As of September 30, GQG Partners is the dominant stockholder in the company and has a position worth $2.95 billion.

This November, Piper Sandler analyst Ryan Todd raised his price target on Exxon Mobil Corporation (NYSE:XOM) to $131 from $113 and maintained an Overweight rating on the shares.

As of December 9, Exxon Mobil Corporation (NYSE:XOM) has returned 65.58% to investors year to date and is trading at a PE multiple of 8x.

Here is what First Eagle Investments had to say about Exxon Mobil Corporation (NYSE:XOM) in its second-quarter 2022 investor letter:

“Integrated oil and gas giant Exxon Mobil performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industrywide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”