- ISIN
- US38747R8685
- Issuer
- GraniteShares
- Inception Date
- Dec 12, 2022
- Region
- Emerging Asia Pacific (China)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Assets Under Management
- $93M
Highlights
- Avg. Volume (1M)
- 925K
- Avg. Volume Value (1M)
- $17.35M
Share Price Chart
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Performance
BABX Performance Chart
GraniteShares 2x Long BABA Daily ETF (BABX) is down 39.4% since the beginning of the year. BABX is currently trading at $22 per share.
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Returns By Period
GraniteShares 2x Long BABA Daily ETF (BABX) has returned -39.35% so far this year and -15.60% over the past 12 months.
GraniteShares 2x Long BABA Daily ETF
- 1D
- 10.29%
- 1M
- 57.49%
- 6M
- -53.25%
- YTD
- -39.35%
- 1Y
- -15.60%
- 3Y*
- -5.95%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -5.30%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
BABX Monthly Returns History
Based on dividend-adjusted daily data since Dec 13, 2022, BABX's average daily return is +0.11%, while the average monthly return is +2.82%. At this rate, an investment would double in approximately 2.1 years.
Historically, 45% of months were positive and 55% were negative. The best month was Feb 2025 with a return of +71.7%, while the worst month was Jun 2026 at -40.3%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BABX closed higher 46% of trading days. The best single day was Aug 29, 2025 with a return of +25.5%, while the worst single day was Feb 24, 2025 at -20.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 29.74% | -28.74% | -25.93% | 8.63% | -13.43% | -40.28% | 57.72% | -39.35% | |||||
| 2025 | 32.86% | 71.72% | -3.02% | -22.23% | -10.97% | 0.77% | 10.78% | 21.76% | 69.96% | -11.88% | -16.20% | -14.33% | 123.85% |
| 2024 | -12.61% | 2.73% | -5.95% | 5.14% | 6.37% | -13.18% | 18.17% | 9.73% | 58.13% | -16.83% | -21.85% | -7.36% | 1.23% |
| 2023 | 44.55% | -33.75% | 26.42% | -29.21% | -12.03% | 6.56% | 40.77% | -16.80% | -12.46% | -9.69% | -17.37% | 7.54% | -33.89% |
| 2022 | -9.68% | -9.68% |
Benchmark Metrics
GraniteShares 2x Long BABA Daily ETF has an annualized alpha of -4.96%, beta of 1.82, and R2 of 0.11 versus S&P 500 Index. Calculated based on daily prices since December 13, 2022.
- This ETF participated in 288.76% of S&P 500 Index downside but only 171.14% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.11 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -4.96%
- Beta
- 1.82
- R²
- 0.11
- Upside Capture
- 171.14%
- Downside Capture
- 288.76%
Expense Ratio
BABX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BABX ranks 10 for risk / return — above 10% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BABX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.25 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 2.00 | -2.27 |
| Martin ratioReturn relative to average drawdown | -0.45 | 8.49 | -8.94 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the GraniteShares 2x Long BABA Daily ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the GraniteShares 2x Long BABA Daily ETF was 78.83%, occurring on Jun 26, 2026. The portfolio has not yet recovered.
The current GraniteShares 2x Long BABA Daily ETF drawdown is 65.76%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-78.83%Jun 2026 | 8mo 26d | — | 10mo 3dOct 2025 - now | — |
-70.62%Apr 2024 | 1y 2mo | 10mo 10d | 2y 26dJan 2023 - Feb 2025 | — |
-56.35%Apr 2025 | 21d | 5mo 10d | 6mo 1dMar 2025 - Sep 2025 | 2025 selloff2025 |
-20.58%Feb 2025 | 1d | 21d | 21dFeb 2025 - Mar 2025 | 2025 selloff2025 |
-13.48%Dec 2022 | 10d | 12d | 22dDec 2022 - Jan 2023 | Bear market2022 |
Drawdown Indicators
| BABX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.83% | -56.78% | -22.05% |
Max Drawdown (1Y)Largest decline over 1 year | -78.83% | -9.10% | -69.73% |
Max Drawdown (3Y)Largest decline over 3 years | -78.83% | -18.90% | -59.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -65.76% | -1.58% | -64.18% |
Average DrawdownAverage peak-to-trough decline | -46.37% | -10.70% | -35.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.90% | 2.14% | +43.76% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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