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GraniteShares 2x Long META Daily ETF (FBL)
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ETF Info

ISIN
US38747R8438
Inception Date
Dec 12, 2022
Region
North America (U.S.)
Leveraged
1x (No leverage)
Index Tracked
No Index (Active)
Distribution Policy
Distributing
Asset Class
Equity

Share Price Chart


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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in GraniteShares 2x Long META 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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S&P 500 Index

Returns By Period

GraniteShares 2x Long META Daily ETF (FBL) has returned -29.38% so far this year and -23.10% over the past 12 months.


GraniteShares 2x Long META Daily ETF

1D
13.10%
1M
-24.07%
YTD
-29.38%
6M
-46.10%
1Y
-23.10%
3Y*
43.74%
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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Dec 13, 2022, FBL's average daily return is +0.32%, while the average monthly return is +6.48%. At this rate, your investment would double in approximately 0.9 years.

Historically, 60% of months were positive and 40% were negative. The best month was Feb 2024 with a return of +51.0%, while the worst month was Mar 2025 at -27.1%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.

On a daily basis, FBL closed higher 53% of trading days. The best single day was Feb 2, 2024 with a return of +40.7%, while the worst single day was Oct 30, 2025 at -23.0%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
202615.01%-19.12%-24.07%-29.38%
202536.17%-7.01%-27.11%-14.24%36.70%28.08%7.61%-9.87%-2.03%-24.41%-1.67%2.68%0.50%
202415.38%50.95%-2.76%-24.16%16.16%15.29%-13.75%18.85%19.48%-3.15%1.55%2.67%112.72%
202336.59%24.61%31.90%19.21%15.62%10.42%16.09%-11.42%1.12%-0.43%12.05%11.41%341.59%
2022-1.22%-1.22%

Benchmark Metrics

GraniteShares 2x Long META Daily ETF has an annualized alpha of 43.05%, beta of 2.88, and R² of 0.38 versus S&P 500 Index. Calculated based on daily prices since December 14, 2022.

  • This ETF captured 637.15% of S&P 500 Index gains and 228.84% of its losses — amplifying both gains and losses, but participating more in upside than downside.
  • R² of 0.38 means the benchmark explains less than half of this ETF's behavior — treat beta with caution or consider switching to a more representative benchmark.

Alpha
43.05%
Beta
2.88
0.38
Upside Capture
637.15%
Downside Capture
228.84%

Expense Ratio

FBL has a high expense ratio of 1.15%, indicating above-average management fees.


Return for Risk

Risk / Return Rank

FBL ranks 8 for risk / return — in the bottom 8% 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.


FBL Risk / Return Rank: 88
Overall Rank
FBL Sharpe Ratio Rank: 77
Sharpe Ratio Rank
FBL Sortino Ratio Rank: 1111
Sortino Ratio Rank
FBL Omega Ratio Rank: 1010
Omega Ratio Rank
FBL Calmar Ratio Rank: 66
Calmar Ratio Rank
FBL Martin Ratio Rank: 55
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for GraniteShares 2x Long META Daily ETF (FBL) and compare them to a chosen benchmark (S&P 500 Index).


FBLBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

-0.29

0.90

-1.19

Sortino ratio

Return per unit of downside risk

0.09

1.39

-1.29

Omega ratio

Gain probability vs. loss probability

1.01

1.21

-0.20

Calmar ratio

Return relative to maximum drawdown

-0.38

1.40

-1.78

Martin ratio

Return relative to average drawdown

-0.85

6.61

-7.46

Explore FBL risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

Dividends

Dividend History

GraniteShares 2x Long META Daily ETF provided a 2.94% dividend yield over the last twelve months, with an annual payout of $0.67 per share.


0.00%10.00%20.00%30.00%40.00%50.00%$0.00$2.00$4.00$6.00$8.00202320242025
Dividends
Dividend Yield
PeriodTTM202520242023
Dividend$0.67$0.67$0.00$8.00

Dividend yield

2.94%2.07%0.00%51.58%

Monthly Dividends

The table displays the monthly dividend distributions for GraniteShares 2x Long META Daily ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026$0.00$0.00$0.00$0.00
2025$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.67$0.67
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2023$8.00$8.00

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 META 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 META Daily ETF was 61.15%, occurring on Mar 27, 2026. The portfolio has not yet recovered.

The current GraniteShares 2x Long META Daily ETF drawdown is 54.23%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-61.15%Feb 18, 2025279Mar 27, 2026
-35.25%Apr 8, 202417Apr 30, 202498Sep 19, 2024115
-19.35%Jul 31, 202315Aug 18, 202361Nov 14, 202376
-17.08%Feb 8, 202313Feb 27, 202311Mar 14, 202324
-14.92%Oct 7, 202430Nov 15, 202411Dec 3, 202441

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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