BABX vs. BABA
BABX (GraniteShares 2x Long BABA Daily ETF) is Leveraged Equities fund actively managed by GraniteShares, while BABA (Alibaba Group Holding Limited) is a stock. Over the past 3 years, BABX returned -6.51%/yr vs 9.15%/yr for BABA. With a 1.00 correlation, they move nearly in lockstep.
Performance
BABX vs. BABA - Performance Comparison
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Returns By Period
In the year-to-date period, BABX achieves a -48.14% return, which is significantly lower than BABA's -22.66% return.
BABX
- 1D
- 2.13%
- 1M
- -3.21%
- 6M
- -50.56%
- YTD
- -48.14%
- 1Y
- -14.46%
- 3Y*
- -6.51%
- 5Y*
- —
- 10Y*
- —
BABA
- 1D
- 1.07%
- 1M
- -0.43%
- 6M
- -24.91%
- YTD
- -22.66%
- 1Y
- 6.22%
- 3Y*
- 9.15%
- 5Y*
- -10.33%
- 10Y*
- 3.86%
BABX vs. BABA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BABX GraniteShares 2x Long BABA Daily ETF | -48.14% | 123.85% | 1.23% | -33.89% | -9.68% |
BABA Alibaba Group Holding Limited | -22.66% | 75.80% | 11.77% | -10.83% | -1.48% |
Correlation
The correlation between BABX and BABA is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 1.00 |
The correlation between BABX and BABA has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
BABX vs. BABA — Risk / Return Rank
BABX
BABA
BABX vs. BABA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) and Alibaba Group Holding Limited (BABA). 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.
| BABX | BABA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.06 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 0.13 | -0.31 |
| Martin ratioReturn relative to average drawdown | -0.34 | 0.27 | -0.61 |
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Drawdowns
BABX vs. BABA - Drawdown Comparison
The maximum BABX drawdown since its inception was -78.83%, roughly equal to the maximum BABA drawdown of -80.09%. Use the drawdown chart below to compare losses from any high point for BABX and BABA.
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Drawdown Indicators
| BABX | BABA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.83% | -80.09% | +1.26% |
Max Drawdown (1Y)Largest decline over 1 year | -78.83% | -49.47% | -29.36% |
Max Drawdown (3Y)Largest decline over 3 years | -78.83% | -49.47% | -29.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -70.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -80.09% | — |
Current DrawdownCurrent decline from peak | -70.73% | -62.36% | -8.37% |
Average DrawdownAverage peak-to-trough decline | -45.99% | -37.73% | -8.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.72% | 22.98% | +19.74% |
Volatility
BABX vs. BABA - Volatility Comparison
GraniteShares 2x Long BABA Daily ETF (BABX) has a higher volatility of 27.76% compared to Alibaba Group Holding Limited (BABA) at 14.28%. This indicates that BABX's price experiences larger fluctuations and is considered to be riskier than BABA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BABX | BABA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.76% | 14.28% | +13.48% |
Volatility (6M)Calculated over the trailing 6-month period | 61.25% | 30.85% | +30.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 90.30% | 45.13% | +45.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.43% | 51.64% | +31.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.43% | 43.55% | +39.88% |
Dividends
BABX vs. BABA - Dividend Comparison
BABX has not paid dividends to shareholders, while BABA's dividend yield for the trailing twelve months is around 0.93%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BABA Alibaba Group Holding Limited | 0.93% | 1.36% | 1.96% | 1.29% |
BABX GraniteShares 2x Long BABA Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, BABX and BABA 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.
BABX has higher volatility (27.76%) compared to BABA (14.28%). In terms of maximum drawdown, BABX dropped -78.83% vs BABA's -80.09%.
BABA currently has the higher Sharpe Ratio (0.14 vs -0.16), 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.
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