COMB vs. FBL

Last updated Apr 1, 2026

Compare and contrast key facts about GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and GraniteShares 2x Long META Daily ETF (FBL).

COMB and FBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. COMB is an actively managed fund by GraniteShares. It was launched on May 22, 2017. FBL is an actively managed fund by GraniteShares. It was launched on Dec 12, 2022.

Performance

COMB vs. FBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and GraniteShares 2x Long META Daily ETF (FBL). The values are adjusted to include any dividend payments, if applicable.

COMB vs. FBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF	24.42%	15.12%	5.24%	-7.75%	-1.73%
FBL GraniteShares 2x Long META Daily ETF	-29.38%	0.50%	112.72%	341.59%	-1.22%

Returns By Period

In the year-to-date period, COMB achieves a 24.42% return, which is significantly higher than FBL's -29.38% return.

COMB

• 1D: 0.02%
• 1M: 11.58%
• YTD: 24.42%
• 6M: 31.07%
• 1Y: 31.68%
• 3Y*: 13.75%
• 5Y*: 13.49%
• 10Y*: —

FBL

• 1D: 13.10%
• 1M: -24.07%
• YTD: -29.38%
• 6M: -46.10%
• 1Y: -23.10%
• 3Y*: 43.74%
• 5Y*: —
• 10Y*: —

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

COMB vs. FBL - Expense Ratio Comparison

COMB has a 0.25% expense ratio, which is lower than FBL's 1.15% expense ratio.

FBL

GraniteShares 2x Long META Daily ETF

COMB

GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF

Return for Risk

COMB vs. FBL — Risk / Return Rank

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

COMB

COMB Risk / Return Rank: 89
COMB Sharpe Ratio Rank: 89
COMB Sortino Ratio Rank: 89
COMB Omega Ratio Rank: 87
COMB Calmar Ratio Rank: 94
COMB Martin Ratio Rank: 86

FBL

FBL Risk / Return Rank: 8
FBL Sharpe Ratio Rank: 7
FBL Sortino Ratio Rank: 11
FBL Omega Ratio Rank: 11
FBL Calmar Ratio Rank: 6
FBL Martin Ratio Rank: 6

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.

COMB vs. FBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) 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.

	COMB	FBL	Difference
Sharpe ratio Return per unit of total volatility	1.85	-0.29	+2.15
Sortino ratio Return per unit of downside risk	2.44	0.09	+2.35
Omega ratio Gain probability vs. loss probability	1.35	1.01	+0.33
Calmar ratio Return relative to maximum drawdown	3.57	-0.38	+3.95
Martin ratio Return relative to average drawdown	9.81	-0.85	+10.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COMB vs. FBL - Sharpe Ratio Comparison

The current COMB Sharpe Ratio is 1.85, which is higher than the FBL Sharpe Ratio of -0.29. The chart below compares the historical Sharpe Ratios of COMB and FBL, 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

	COMB	FBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	-0.29	+2.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.10	-0.58

Correlation

The correlation between COMB and FBL is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

COMB vs. FBL - Dividend Comparison

COMB's dividend yield for the trailing twelve months is around 7.27%, more than FBL's 2.94% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF	7.27%	9.05%	2.48%	6.57%	30.85%	15.83%	0.07%	1.48%	0.97%	0.20%
FBL GraniteShares 2x Long META Daily ETF	2.94%	2.07%	0.00%	51.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

COMB vs. FBL - Drawdown Comparison

The maximum COMB drawdown since its inception was -33.50%, smaller than the maximum FBL drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for COMB and FBL.

Drawdown Indicators

	COMB	FBL	Difference
Max Drawdown Largest peak-to-trough decline	-33.50%	-61.15%	+27.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.19%	-61.03%	+51.84%
Max Drawdown (5Y) Largest decline over 5 years	-26.63%	—	—
Current Drawdown Current decline from peak	0.00%	-54.23%	+54.23%
Average Drawdown Average peak-to-trough decline	-12.25%	-14.83%	+2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	27.20%	-23.86%

Volatility

COMB vs. FBL - Volatility Comparison

The current volatility for GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) is 7.51%, while GraniteShares 2x Long META Daily ETF (FBL) has a volatility of 27.39%. This indicates that COMB 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.

Volatility by Period

	COMB	FBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	27.39%	-19.88%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	54.04%	-40.24%
Volatility (1Y) Calculated over the trailing 1-year period	17.18%	79.46%	-62.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	70.85%	-54.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.05%	70.85%	-55.80%