Nvidia Crisis Fails to Stop ETF Buying Frenzy: VOO, QQQ, SOXL Leads $37.5B ETF Inflow Surge

Investors are pouring billions into U.S. equity ETFs despite a turbulent week on Wall Street, with leveraged products emerging as unexpected beneficiaries of the latest buying spree.

The 10 largest U.S. equity ETFs attracted more than $37.5 billion over the five trading sessions ending Nov. 10, according to The Kobeissi Letter, marking an unprecedented pace of dip-buying even as Nvidia Corp.’s (NASDAQ:NVDA) shares plunged nearly 11% this week amid a leadership crisis.

VOO Dominates as Investors Buy the Dip

The Vanguard S&P 500 ETF (NYSE:VOO) led the inflows, attracting more than $16.9 billion over the five-day period. The Invesco QQQ Trust (NASDAQ:QQQ) followed with $5.3 billion, while the Vanguard Total Stock Market ETF (NYSE:VTI) gathered another $3.3 billion.

Other major beneficiaries included the State Street SPDR Portfolio S&P 500 ETF (NYSE:SPYM), which attracted over $2.6 billion, and the Invesco NASDAQ 100 ETF (NASDAQ:QQQM), with more than $2.2 billion in inflows.

The concentration of flows in broad-market and Nasdaq-tracking funds suggests investors are using the recent weakness to increase exposure to U.S. equities rather than retreating to the sidelines.

Leveraged ETFs Reveal a More Aggressive Bet

However, some of the most striking flows came from leveraged products.

The Direxion Daily Semiconductor Bull 3X ETF (NYSE:SOXL) attracted more than $2.1 billion, while the ProShares UltraPro QQQ (NASDAQ:TQQQ) recorded inflows exceeding $1.4 billion over the same period.

Together, the two funds drew approximately $3.5 billion, indicating that investors are also positioning for an amplified rebound in semiconductor and technology stocks.

SOXL’s substantial inflows are particularly notable given Nvidia’s nearly 11% weekly decline. The semiconductor sector has faced additional uncertainty following CEO Jensen Huang‘s resignation, although analysts have suggested that the leadership transition may not immediately disrupt the company’s product roadmap or competitive position.

Both SOXL and TQQQ seek to deliver three times the daily performance of their respective underlying indexes, making them particularly sensitive to market swings. Their inflows therefore point to growing demand for leveraged exposure, although flows alone do not establish investors’ motivations.

Wall Street Rebounds Despite Nvidia Turmoil

The buying spree comes as all three major U.S. benchmark indexes head toward their strongest weekly performance since August. The S&P 500 and Nasdaq Composite are on track to gain approximately 3%, while the Dow Jones Industrial Average is headed toward a nearly 2% advance.

With Nvidia scheduled to report its third-quarter results on Tuesday, investors now face another major test of market sentiment.

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