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 27.28%/yr vs 29.18%/yr for FBL. At a 0.08 correlation, their price movements are largely independent. 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 -13.07% return.
BAR
- 1D
- 1.29%
- 1M
- -3.79%
- 6M
- -11.69%
- YTD
- -6.10%
- 1Y
- 20.98%
- 3Y*
- 27.28%
- 5Y*
- 17.06%
- 10Y*
- —
FBL
- 1D
- 1.22%
- 1M
- 31.81%
- 6M
- -4.62%
- YTD
- -13.07%
- 1Y
- -33.60%
- 3Y*
- 29.18%
- 5Y*
- —
- 10Y*
- —
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 | -13.07% | 0.50% | 112.72% | 341.59% | -1.38% |
Correlation
The correlation between BAR and FBL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.08 |
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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 | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.97 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | -0.55 | +1.36 |
| Martin ratioReturn relative to average drawdown | 1.95 | -0.91 | +2.86 |
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Drawdowns
BAR vs. FBL - Drawdown Comparison
The maximum BAR drawdown since its inception was -26.15%, smaller than the maximum FBL drawdown of -61.15%. 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 | -26.15% | -61.15% | +35.00% |
Max Drawdown (1Y)Largest decline over 1 year | -26.15% | -61.03% | +34.88% |
Max Drawdown (3Y)Largest decline over 3 years | -26.15% | -61.15% | +35.00% |
Max Drawdown (5Y)Largest decline over 5 years | -26.15% | — | — |
Current DrawdownCurrent decline from peak | -24.94% | -43.66% | +18.72% |
Average DrawdownAverage peak-to-trough decline | -6.64% | -17.52% | +10.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.78% | 37.15% | -26.37% |
Volatility
BAR vs. FBL - Volatility Comparison
The current volatility for GraniteShares Gold Trust (BAR) is 6.92%, while GraniteShares 2x Long META Daily ETF (FBL) has a volatility of 31.78%. 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 | 6.92% | 31.78% | -24.86% |
Volatility (6M)Calculated over the trailing 6-month period | 24.05% | 61.87% | -37.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.73% | 76.98% | -49.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.29% | 72.32% | -54.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 72.32% | -55.73% |
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 2.39%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% |
FBL GraniteShares 2x Long META Daily ETF | 2.39% | 2.07% | 0.00% | 51.58% |
Frequently Asked Questions
BAR and FBL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBL has higher volatility (31.78%) compared to BAR (6.92%). In terms of maximum drawdown, BAR dropped -26.15% vs FBL's -61.15%.
On 3-year performance, FBL leads with 29.18% vs 27.28% for BAR. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 6.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FBL has performed better with a 29.18% return vs 27.28%. 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 2.39%, 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 (0.76 vs -0.44), 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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