The global stock market continued their strong performance in October with MSCI world equity index, which tracks shares in 47 countries, setting a record of the twelfth straight month of gains. With this, the index topped its 2003 run of 11 straight months of gains.

The impressive performance was driven by the surging technology stocks in the United States and elsewhere, a recovery in Spanish markets, dovish European Central Bank, as well as raft of strong earnings results and upbeat global economic data. Additionally, a jump in oil price and high expectation for U.S. tax reform boosted the sentiments across the globe.

This has resulted in huge demand for leveraged ETFs as investors seek to register big gains in a short span. Leveraged funds provide multiple exposure (i.e. 2x or 3x) to the daily performance of the underlying index by employing various investment strategies such as swaps, futures contracts and other derivative instruments. Due to their compounding effect, investors can enjoy higher returns in a very short period of time, provided the trend remains a friend.

Below, we have highlighted five ETFs that crushed the market in October with abnormal returns piled up in a short period. Moreover, these funds will continue to be investors’ darlings this quarter if global sentiments remain the same.

Direxion Daily Semiconductor Bull 3x Shares (SOXL – Free Report)

This ETF targets the semiconductor corner of the U.S. technology sector with three times (3x) leveraged exposure to the PHLX Semiconductor Sector Index. It has amassed about $513.6 million in its asset base while charges 95 bps in fees per year. Volume is good as it exchanges around 456,000 shares a day on average. The fund gained 24.4% in October.

Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL – Free Report)

The fund creates three times leveraged long position in the Dow Jones U.S. Select Home Construction Index. It charges an annual fee of 95 bps and trades in a light average daily volume of about 14,000 shares. The fund has accumulated AUM of $34.6 million and surged about 24.2% last month.