- Issuer
- GraniteShares
- Inception Date
- Sep 3, 2025
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Asset Class
- Equity
Share Price Chart
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Performance
BULX Performance Chart
GraniteShares 2x Long BULL Daily ETF (BULX) is down 58.2% since the beginning of the year. BULX is currently trading at $3 per share.
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Returns By Period
GraniteShares 2x Long BULL Daily ETF
- 1D
- 0.00%
- 1M
- -8.80%
- 6M
- -62.12%
- YTD
- -58.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.93%
- 6M
- 9.11%
- YTD
- 9.32%
- 1Y
- 19.17%
- 3Y*
- 18.87%
- 5Y*
- 11.45%
- 10Y*
- 13.53%
BULX Monthly Returns History
Based on dividend-adjusted daily data since Sep 3, 2025, BULX's average daily return is -0.78%, while the average monthly return is -11.98%.
Historically, 18% of months were positive and 82% were negative. The best month was Apr 2026 with a return of +91.3%, while the worst month was Oct 2025 at -49.2%. The longest winning streak lasted 1 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BULX closed higher 40% of trading days. The best single day was Feb 6, 2026 with a return of +24.5%, while the worst single day was Feb 5, 2026 at -25.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -21.22% | -35.50% | -34.40% | 91.30% | -14.75% | -23.09% | 0.00% | -58.20% | |||||
| 2025 | 16.93% | -49.23% | -28.55% | -33.30% | -71.71% |
Benchmark Metrics
GraniteShares 2x Long BULL Daily ETF has an annualized alpha of -94.21%, beta of 4.48, and R2 of 0.29 versus S&P 500 Index. Calculated based on daily prices since September 03, 2025.
- This ETF participated in 596.17% of S&P 500 Index downside but only -121.50% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.29 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
- -94.21%
- Beta
- 4.48
- R²
- 0.29
- Upside Capture
- -121.50%
- Downside Capture
- 596.17%
Expense Ratio
BULX has a high expense ratio of 1.50%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for GraniteShares 2x Long BULL Daily ETF (BULX) 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.
| BULX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.23 | — |
| Martin ratioReturn relative to average drawdown | — | 9.69 | — |
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 BULL 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 BULL Daily ETF was 93.25%, occurring on Mar 30, 2026. The portfolio has not yet recovered.
The current GraniteShares 2x Long BULL Daily ETF drawdown is 90.87%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -93.25%Mar 2026 | 6mo 1d | — | 9mo 7dSep 2025 - now |
2025 correction2025 | -14.02%Sep 2025 | 5d | 5d | 10dSep 2025 - Sep 2025 |
2025 pullback2025 | -8.20%Sep 2025 | 2d | 4d | 6dSep 2025 - Sep 2025 |
2025 pullback2025 | -7.23%Sep 2025 | 0s | 1d | 1dSep 2025 - Sep 2025 |
2025 pullback2025 | -1.39%Sep 2025 | 1d | 1d | 2dSep 2025 - Sep 2025 |
Drawdown Indicators
| BULX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.25% | -56.78% | -36.47% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
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 | -90.87% | -1.66% | -89.21% |
Average DrawdownAverage peak-to-trough decline | -70.61% | -10.71% | -59.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.09% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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