- Issuer
- GraniteShares
- Inception Date
- Jul 14, 2025
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $218M
Share Price Chart
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Performance
NOWL Performance Chart
GraniteShares 2x Long NOW Daily ETF (NOWL) is down 47.1% since the beginning of the year. NOWL is currently trading at $8 per share.
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Returns By Period
GraniteShares 2x Long NOW Daily ETF
- 1D
- -12.28%
- 1M
- 84.18%
- YTD
- -47.14%
- 6M
- -55.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
NOWL Monthly Returns History
Based on dividend-adjusted daily data since Jul 15, 2025, NOWL's average daily return is -0.32%, while the average monthly return is -5.40%.
Historically, 17% of months were positive and 83% were negative. The best month was May 2026 with a return of +88.6%, while the worst month was Jan 2026 at -44.3%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 10 months.
On a daily basis, NOWL closed higher 49% of trading days. The best single day was May 29, 2026 with a return of +28.8%, while the worst single day was Apr 23, 2026 at -35.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -44.27% | -17.67% | -9.28% | -35.07% | 88.63% | 3.70% | -47.14% | ||||||
| 2025 | -4.61% | -6.89% | -0.50% | -1.68% | -23.34% | -13.80% | -42.58% |
Benchmark Metrics
GraniteShares 2x Long NOW Daily ETF has an annualized alpha of -67.12%, beta of 1.31, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since July 16, 2025.
- This ETF participated in 379.74% of S&P 500 Index downside but only -153.23% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.02 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
- -67.12%
- Beta
- 1.31
- R²
- 0.02
- Upside Capture
- -153.23%
- Downside Capture
- 379.74%
Expense Ratio
NOWL 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 NOW Daily ETF (NOWL) and compare them to S&P 500 Index.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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 NOW 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 NOW Daily ETF was 86.57%, occurring on Apr 23, 2026. The portfolio has not yet recovered.
The current GraniteShares 2x Long NOW Daily ETF drawdown is 71.83%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -86.57%Apr 2026 | 9mo 2d | — | 10mo 13dJul 2025 - now |
2025 pullback2025 | -1.96%Jul 2025 | 6d | 1d | 7dJul 2025 - Jul 2025 |
Drawdown Indicators
| NOWL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.57% | -56.78% | -29.79% |
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 | -71.83% | 0.00% | -71.83% |
Average DrawdownAverage peak-to-trough decline | -47.40% | -10.72% | -36.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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