BABX vs. BABO

Last updated Apr 1, 2026

Compare and contrast key facts about GraniteShares 2x Long BABA Daily ETF (BABX) and YieldMax BABA Option Income Strategy ETF (BABO).

BABX and BABO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BABX is an actively managed fund by GraniteShares. It was launched on Dec 12, 2022. BABO is an actively managed fund by YieldMax. It was launched on Aug 7, 2024.

Performance

BABX vs. BABO - Performance Comparison

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

BABX vs. BABO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BABX GraniteShares 2x Long BABA Daily ETF	-31.52%	123.85%	0.81%
BABO YieldMax BABA Option Income Strategy ETF	-12.67%	46.84%	-0.08%

Returns By Period

In the year-to-date period, BABX achieves a -31.52% return, which is significantly lower than BABO's -12.67% return.

BABX

• 1D: 5.70%
• 1M: -25.93%
• YTD: -31.52%
• 6M: -56.68%
• 1Y: -30.71%
• 3Y*: -5.38%
• 5Y*: —
• 10Y*: —

BABO

• 1D: 2.67%
• 1M: -10.26%
• YTD: -12.67%
• 6M: -23.73%
• 1Y: -6.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BABX vs. BABO - Expense Ratio Comparison

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

BABX

GraniteShares 2x Long BABA Daily ETF

BABO

YieldMax BABA Option Income Strategy ETF

Return for Risk

BABX vs. BABO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BABX

BABX Risk / Return Rank: 7
BABX Sharpe Ratio Rank: 6
BABX Sortino Ratio Rank: 11
BABX Omega Ratio Rank: 11
BABX Calmar Ratio Rank: 4
BABX Martin Ratio Rank: 4

BABO

BABO Risk / Return Rank: 9
BABO Sharpe Ratio Rank: 8
BABO Sortino Ratio Rank: 10
BABO Omega Ratio Rank: 10
BABO Calmar Ratio Rank: 8
BABO Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BABX vs. BABO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) and YieldMax BABA Option Income Strategy ETF (BABO). 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.

	BABX	BABO	Difference
Sharpe ratio Return per unit of total volatility	-0.33	-0.18	-0.15
Sortino ratio Return per unit of downside risk	0.09	0.00	+0.08
Omega ratio Gain probability vs. loss probability	1.01	1.00	+0.01
Calmar ratio Return relative to maximum drawdown	-0.49	-0.23	-0.25
Martin ratio Return relative to average drawdown	-0.98	-0.52	-0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BABX vs. BABO - Sharpe Ratio Comparison

The current BABX Sharpe Ratio is -0.33, which is lower than the BABO Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of BABX and BABO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BABX	BABO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	-0.18	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.44	-0.46

Correlation

The correlation between BABX and BABO is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BABX vs. BABO - Dividend Comparison

BABX has not paid dividends to shareholders, while BABO's dividend yield for the trailing twelve months is around 87.67%.

	TTM	2025	2024
BABX GraniteShares 2x Long BABA Daily ETF	0.00%	0.00%	0.00%
BABO YieldMax BABA Option Income Strategy ETF	87.67%	85.50%	20.65%

Drawdowns

BABX vs. BABO - Drawdown Comparison

The maximum BABX drawdown since its inception was -70.62%, which is greater than BABO's maximum drawdown of -29.26%. Use the drawdown chart below to compare losses from any high point for BABX and BABO.

Drawdown Indicators

	BABX	BABO	Difference
Max Drawdown Largest peak-to-trough decline	-70.62%	-29.26%	-41.36%
Max Drawdown (1Y) Largest decline over 1 year	-63.43%	-28.85%	-34.58%
Current Drawdown Current decline from peak	-61.35%	-26.64%	-34.71%
Average Drawdown Average peak-to-trough decline	-44.56%	-12.54%	-32.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.47%	12.93%	+18.54%

Volatility

BABX vs. BABO - Volatility Comparison

GraniteShares 2x Long BABA Daily ETF (BABX) has a higher volatility of 25.50% compared to YieldMax BABA Option Income Strategy ETF (BABO) at 10.87%. This indicates that BABX's price experiences larger fluctuations and is considered to be riskier than BABO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BABX	BABO	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.50%	10.87%	+14.63%
Volatility (6M) Calculated over the trailing 6-month period	58.87%	24.93%	+33.94%
Volatility (1Y) Calculated over the trailing 1-year period	92.17%	37.51%	+54.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.96%	36.96%	+46.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.96%	36.96%	+46.00%