BABO vs. BABX

Last updated Aug 2, 2026

BABO (YieldMax BABA Option Income Strategy ETF) and BABX (GraniteShares 2x Long BABA Daily ETF) are both exchange-traded funds - BABO is a Derivative Income fund actively managed by YieldMax, while BABX is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, BABO returned 1.60% vs -15.60% for BABX. Their 0.98 correlation means they have historically moved very closely together. BABO charges 0.99%/yr vs 1.15%/yr for BABX.

Performance

BABO vs. BABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax BABA Option Income Strategy ETF (BABO) and GraniteShares 2x Long BABA Daily ETF (BABX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BABO achieves a -15.94% return, which is significantly higher than BABX's -39.35% return.

BABO

• 1D: 3.50%
• 1M: 21.29%
• 6M: -25.18%
• YTD: -15.94%
• 1Y: 1.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.61%

BABX

• 1D: 10.29%
• 1M: 57.49%
• 6M: -53.25%
• YTD: -39.35%
• 1Y: -15.60%
• 3Y*: -5.95%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -5.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BABO YieldMax BABA Option Income Strategy ETF	$214.70K	$279.41K	$371.42K
BABX GraniteShares 2x Long BABA Daily ETF	$11.48M	$17.35M	$21.24M

BABO vs. BABX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BABO YieldMax BABA Option Income Strategy ETF	-15.94%	46.84%	0.65%
BABX GraniteShares 2x Long BABA Daily ETF	-39.35%	123.85%	7.40%

Correlation

The correlation between BABO and BABX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (All Time) Calculated using the full available price history since Aug 8, 2024	0.98

The correlation between BABO and BABX has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

BABO vs. BABX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BABO

BABO Risk / Return Rank: 11
BABO Sharpe Ratio Rank: 10
BABO Sortino Ratio Rank: 12
BABO Omega Ratio Rank: 12
BABO Calmar Ratio Rank: 11
BABO Martin Ratio Rank: 10

BABX

BABX Risk / Return Rank: 10
BABX Sharpe Ratio Rank: 8
BABX Sortino Ratio Rank: 13
BABX Omega Ratio Rank: 12
BABX Calmar Ratio Rank: 7
BABX Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BABO vs. BABX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax BABA Option Income Strategy ETF (BABO) and GraniteShares 2x Long BABA Daily ETF (BABX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BABO	BABX	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	-0.23	+0.20
Sortino ratio: Return per unit of downside risk	0.24	0.30	-0.06
Omega ratio: Gain probability vs. loss probability	1.03	1.03	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.03	-0.26	+0.24
Martin ratio: Return relative to average drawdown	-0.05	-0.45	+0.40

BABO vs. BABX - Sharpe Ratio Comparison

The current BABO Sharpe Ratio is -0.03, which is higher than the BABX Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of BABO and BABX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BABO vs. BABX - Drawdown Comparison

The maximum BABO drawdown since its inception was -42.63%, smaller than the maximum BABX drawdown of -78.83%. Use the drawdown chart below to compare losses from any high point for BABO and BABX.

Drawdown Indicators

	BABO	BABX	Difference
Max Drawdown Largest peak-to-trough decline	-42.63%	-78.83%	+36.20%
Max Drawdown (1Y) Largest decline over 1 year	-42.63%	-78.83%	+36.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-78.83%	—
Current Drawdown Current decline from peak	-29.38%	-65.76%	+36.38%
Average Drawdown Average peak-to-trough decline	-15.33%	-46.37%	+31.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.00%	45.90%	-25.90%

Volatility

BABO vs. BABX - Volatility Comparison

The current volatility for YieldMax BABA Option Income Strategy ETF (BABO) is 11.95%, while GraniteShares 2x Long BABA Daily ETF (BABX) has a volatility of 27.65%. This indicates that BABO experiences smaller price fluctuations and is considered to be less risky than BABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BABO	BABX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.95%	27.65%	-15.70%
Volatility (6M) Calculated over the trailing 6-month period	24.78%	58.06%	-33.28%
Volatility (1Y) Calculated over the trailing 1-year period	36.71%	90.28%	-53.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.86%	83.39%	-46.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.86%	83.39%	-46.53%

BABO vs. BABX - Expense Ratio Comparison

BABO has a 0.99% expense ratio, which is lower than BABX's 1.15% expense ratio.

Dividends

BABO vs. BABX - Dividend Comparison

BABO's dividend yield for the trailing twelve months is around 95.83%, while BABX has not paid dividends to shareholders.

Position	TTM	2025	2024
BABO YieldMax BABA Option Income Strategy ETF	95.83%	85.50%	20.65%
BABX GraniteShares 2x Long BABA Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BABO and BABX in my portfolio?

With a correlation of 0.98, BABO and BABX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BABO or BABX?

BABX has higher volatility (27.65%) compared to BABO (11.95%). In terms of maximum drawdown, BABO dropped -42.63% vs BABX's -78.83%.

Which ETF is better, BABO or BABX?

On 1-year performance, BABO leads with 1.60% vs -15.60% for BABX. On fees, BABO is cheaper at 0.99% per year. On volatility, BABO has been the lower-risk option at 11.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BABO or BABX?

Over the 1-year period, BABO has performed better with a 1.60% return vs -15.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BABO or BABX?

BABO is cheaper with a 0.99% expense ratio, compared with 1.15% for BABX.

Which ETF pays a higher dividend yield, BABO or BABX?

BABO has the higher dividend yield at 95.83%, compared with 0.00% for BABX.

What is the main difference between BABO and BABX?

BABO is categorized as Derivative Income, while BABX is Leveraged Equities. They also come from different issuers: YieldMax and GraniteShares. Their fees differ too: 0.99% for BABO and 1.15% for BABX.

Which has better risk-adjusted returns?

BABO currently has the higher Sharpe Ratio (-0.03 vs -0.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.