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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in GraniteShares 2x Long BABA Daily ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
GraniteShares 2x Long BABA Daily ETF (BABX) has returned -31.52% so far this year and -30.71% over the past 12 months.
GraniteShares 2x Long BABA Daily ETF
- 1D
- 5.70%
- 1M
- -25.93%
- YTD
- -31.52%
- 6M
- -56.68%
- 1Y
- -30.71%
- 3Y*
- -5.38%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Dec 13, 2022, BABX's average daily return is +0.13%, while the average monthly return is +2.85%. At this rate, your 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 Feb 2023 at -33.8%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BABX closed higher 47% 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% | -31.52% | |||||||||
| 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 | -7.32% | -7.32% |
Benchmark Metrics
GraniteShares 2x Long BABA Daily ETF has an annualized alpha of 4.31%, beta of 1.76, and R² of 0.10 versus S&P 500 Index. Calculated based on daily prices since December 14, 2022.
- This ETF participated in 270.72% of S&P 500 Index downside but only 222.16% of its upside — more exposed to losses than it benefited from rallies.
- R² of 0.10 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
- 4.31%
- Beta
- 1.76
- R²
- 0.10
- Upside Capture
- 222.16%
- Downside Capture
- 270.72%
Expense Ratio
BABX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BABX ranks 7 for risk / return — in the bottom 7% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) and compare them to a chosen benchmark (S&P 500 Index).
| BABX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.33 | 0.90 | -1.23 |
Sortino ratioReturn per unit of downside risk | 0.09 | 1.39 | -1.30 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.21 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | -0.49 | 1.40 | -1.89 |
Martin ratioReturn relative to average drawdown | -0.98 | 6.61 | -7.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore BABX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
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 70.62%, occurring on Apr 17, 2024. Recovery took 212 trading sessions.
The current GraniteShares 2x Long BABA Daily ETF drawdown is 61.35%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -70.62% | Jan 27, 2023 | 307 | Apr 17, 2024 | 212 | Feb 21, 2025 | 519 |
| -63.43% | Oct 3, 2025 | 122 | Mar 30, 2026 | — | — | — |
| -56.35% | Mar 18, 2025 | 16 | Apr 8, 2025 | 109 | Sep 15, 2025 | 125 |
| -20.58% | Feb 24, 2025 | 1 | Feb 24, 2025 | 15 | Mar 17, 2025 | 16 |
| -11.21% | Dec 14, 2022 | 8 | Dec 23, 2022 | 5 | Jan 3, 2023 | 13 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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