- CUSIP
- 38747R546
- Issuer
- GraniteShares
- Inception Date
- Mar 25, 2025
- Region
- North America (United States)
- Category
- Leveraged Equities, Technology Equities
- Leveraged
- 2x
- Index Tracked
- IonQ Inc. (IONQ)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $44M
Highlights
- Avg. Volume (1M)
- 737K
- Avg. Volume Value (1M)
- $9.60M
Share Price Chart
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Performance
IONL Performance Chart
GraniteShares 2x Long IONQ Daily ETF (IONL) is down 64.5% since the beginning of the year. IONL is currently trading at $12 per share.
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Returns By Period
GraniteShares 2x Long IONQ Daily ETF (IONL) has returned -64.46% so far this year and -70.85% over the past 12 months.
GraniteShares 2x Long IONQ Daily ETF
- 1D
- 3.90%
- 1M
- -53.38%
- 6M
- -52.48%
- YTD
- -64.46%
- 1Y
- -70.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -40.83%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 18.15%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
IONL Monthly Returns History
Based on dividend-adjusted daily data since Mar 25, 2025, IONL's average daily return is +0.49%, while the average monthly return is +9.79%. At this rate, an investment would double in approximately 0.6 years.
Historically, 41% of months were positive and 59% were negative. The best month was May 2026 with a return of +131.0%, while the worst month was Jul 2026 at -56.7%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 6 months.
On a daily basis, IONL closed higher 46% of trading days. The best single day was May 22, 2025 with a return of +73.4%, while the worst single day was Nov 20, 2025 at -28.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -25.22% | -18.87% | -45.97% | 120.00% | 130.98% | -50.67% | -56.74% | -64.46% | |||||
| 2025 | -25.37% | 36.22% | 86.36% | 9.23% | -18.37% | 8.65% | 92.42% | -8.86% | -43.56% | -23.73% | 38.57% |
Benchmark Metrics
GraniteShares 2x Long IONQ Daily ETF has an annualized alpha of 12.49%, beta of 5.33, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since March 25, 2025.
- This ETF captured 1604.32% of S&P 500 Index gains and 582.53% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.22 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
- 12.49%
- Beta
- 5.33
- R²
- 0.22
- Upside Capture
- 1,604.32%
- Downside Capture
- 582.53%
Expense Ratio
IONL has a high expense ratio of 1.50%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
IONL ranks 9 for risk / return — above 9% 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 IONQ Daily ETF (IONL) 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.
| IONL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.25 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.00 | -2.76 |
| Martin ratioReturn relative to average drawdown | -1.01 | 8.49 | -9.50 |
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 IONQ 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 IONQ Daily ETF was 93.48%, occurring on Jul 29, 2026. The portfolio has not yet recovered.
The current GraniteShares 2x Long IONQ Daily ETF drawdown is 91.68%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-93.48%Jul 2026 | 9mo 18d | — | 9mo 22dOct 2025 - now | — |
-49.40%Aug 2025 | 2mo 23d | 24d | 3mo 17dMay 2025 - Sep 2025 | — |
-37.57%Apr 2025 | 9d | 20d | 29dMar 2025 - Apr 2025 | 2025 selloff2025 |
-33.63%Sep 2025 | 6d | 6d | 12dSep 2025 - Oct 2025 | — |
-22.02%Oct 2025 | 2d | 3d | 5dOct 2025 - Oct 2025 | — |
Drawdown Indicators
| IONL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.48% | -56.78% | -36.70% |
Max Drawdown (1Y)Largest decline over 1 year | -93.48% | -9.10% | -84.38% |
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 | -91.68% | -1.58% | -90.10% |
Average DrawdownAverage peak-to-trough decline | -53.97% | -10.70% | -43.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.08% | 2.14% | +67.94% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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