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Leveraged ETF Rebalancing Triggers 27-Year-High Semiconductor Selloff, Assets Shrink $200 Billion

2026-07-19 01:04:26

According to Tyler Neville, a former derivatives trader and co-host of the Forward Guidance Podcast, semiconductor stocks have undergone their most severe momentum-driven selloff in 27 years during July, potentially driven by leveraged ETF daily rebalancing mechanisms. When markets decline, leveraged ETFs must mechanically sell holdings to maintain fixed leverage ratios, creating self-reinforcing downward pressure. Data from Citadel Securities shows leveraged ETF assets have contracted from a pre-correction high of approximately $218 billion to $198 billion, with semiconductor-related leveraged ETFs experiencing roughly 20% asset erosion. According to Morgan Stanley's Tech Momentum Index cited by Neville, the current correction represents the fastest drawdown in the index's 27-year history, with semiconductor stocks hit hardest and contagion spreading globally.

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