BAR vs. FBL
BAR (GraniteShares Gold Trust) and FBL (GraniteShares 2x Long META Daily ETF) are both exchange-traded funds - BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while FBL is a Leveraged Equities fund actively managed by GraniteShares. BAR is passively managed, while FBL is actively managed. Over the past 3 years, BAR returned 27.61%/yr vs 18.87%/yr for FBL. Their 0.07 correlation means their historical movements had little consistent relationship. BAR charges 0.17%/yr vs 1.09%/yr for FBL.
Performance
BAR vs. FBL - Performance Comparison
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Returns By Period
In the year-to-date period, BAR achieves a -6.10% return, which is significantly higher than FBL's -32.11% return.
BAR
- 1D
- 0.13%
- 1M
- -1.60%
- 6M
- -12.98%
- YTD
- -6.10%
- 1Y
- 20.54%
- 3Y*
- 27.61%
- 5Y*
- 17.26%
- 10Y*
- —
- ALL TIME*
- 13.26%
FBL
- 1D
- 12.09%
- 1M
- -0.63%
- 6M
- -39.25%
- YTD
- -32.11%
- 1Y
- -51.24%
- 3Y*
- 18.87%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 65.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.15M | $7.49M | $9.63M | |
| $26.92M | $36.90M | $34.91M |
BAR vs. FBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | -6.10% | 64.12% | 26.97% | 12.96% | 2.32% |
FBL GraniteShares 2x Long META Daily ETF | -32.11% | 0.50% | 112.72% | 341.59% | -1.38% |
Correlation
The correlation between BAR and FBL is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.07 |
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Return for Risk
BAR vs. FBL — Risk / Return Rank
BAR
FBL
BAR vs. FBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and GraniteShares 2x Long META Daily ETF (FBL). 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.
| BAR | FBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.91 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | -0.81 | +1.60 |
| Martin ratioReturn relative to average drawdown | 1.68 | -1.31 | +2.99 |
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Drawdowns
BAR vs. FBL - Drawdown Comparison
The maximum BAR drawdown since its inception was -26.32%, smaller than the maximum FBL drawdown of -63.20%. Use the drawdown chart below to compare losses from any high point for BAR and FBL.
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Drawdown Indicators
| BAR | FBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.32% | -63.20% | +36.88% |
Max Drawdown (1Y)Largest decline over 1 year | -26.32% | -63.09% | +36.77% |
Max Drawdown (3Y)Largest decline over 3 years | -26.32% | -63.20% | +36.88% |
Max Drawdown (5Y)Largest decline over 5 years | -26.32% | — | — |
Current DrawdownCurrent decline from peak | -24.94% | -56.00% | +31.06% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -18.05% | +11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.26% | 39.12% | -26.86% |
Volatility
BAR vs. FBL - Volatility Comparison
The current volatility for GraniteShares Gold Trust (BAR) is 5.98%, while GraniteShares 2x Long META Daily ETF (FBL) has a volatility of 32.20%. This indicates that BAR experiences smaller price fluctuations and is considered to be less risky than FBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAR | FBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 32.20% | -26.22% |
Volatility (6M)Calculated over the trailing 6-month period | 20.76% | 62.23% | -41.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.90% | 77.39% | -49.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.38% | 73.03% | -54.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.61% | 73.03% | -56.42% |
BAR vs. FBL - Expense Ratio Comparison
BAR has a 0.17% expense ratio, which is lower than FBL's 1.09% expense ratio.
Dividends
BAR vs. FBL - Dividend Comparison
BAR has not paid dividends to shareholders, while FBL's dividend yield for the trailing twelve months is around 3.05%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% |
FBL GraniteShares 2x Long META Daily ETF | 3.05% | 2.07% | 0.00% | 51.58% |
Frequently Asked Questions
BAR and FBL have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBL has higher volatility (32.20%) compared to BAR (5.98%). In terms of maximum drawdown, BAR dropped -26.32% vs FBL's -63.20%.
On 3-year performance, BAR leads with 27.61% vs 18.87% for FBL. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BAR has performed better with a 27.61% return vs 18.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 1.09% for FBL.
FBL has the higher dividend yield at 3.05%, compared with 0.00% for BAR.
BAR is categorized as Gold, while FBL is Leveraged Equities. Their fees differ too: 0.17% for BAR and 1.09% for FBL.
BAR currently has the higher Sharpe Ratio (0.74 vs -0.67), 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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