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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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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%
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%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 15.01% | -19.12% | -24.07% | -29.38% | |||||||||
| 2025 | 36.17% | -7.01% | -27.11% | -14.24% | 36.70% | 28.08% | 7.61% | -9.87% | -2.03% | -24.41% | -1.67% | 2.68% | 0.50% |
| 2024 | 15.38% | 50.95% | -2.76% | -24.16% | 16.16% | 15.29% | -13.75% | 18.85% | 19.48% | -3.15% | 1.55% | 2.67% | 112.72% |
| 2023 | 36.59% | 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
- R²
- 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.
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).
| FBL | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.29 | 0.90 | -1.19 |
Sortino ratioReturn per unit of downside risk | 0.09 | 1.39 | -1.29 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.21 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | -0.38 | 1.40 | -1.78 |
Martin ratioReturn relative to average drawdown | -0.85 | 6.61 | -7.46 |
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 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.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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, 2025 | 279 | Mar 27, 2026 | — | — | — |
| -35.25% | Apr 8, 2024 | 17 | Apr 30, 2024 | 98 | Sep 19, 2024 | 115 |
| -19.35% | Jul 31, 2023 | 15 | Aug 18, 2023 | 61 | Nov 14, 2023 | 76 |
| -17.08% | Feb 8, 2023 | 13 | Feb 27, 2023 | 11 | Mar 14, 2023 | 24 |
| -14.92% | Oct 7, 2024 | 30 | Nov 15, 2024 | 11 | Dec 3, 2024 | 41 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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