DRUP vs. FBL

Last updated Jul 14, 2026

DRUP (GraniteShares Nasdaq Select Disruptors ETF) and FBL (GraniteShares 2x Long META Daily ETF) are both exchange-traded funds - DRUP is a Large Cap Growth Equities fund tracking the Nasdaq US Large Cap Select Disruptors Index - Benchmark TR Gross, while FBL is a Leveraged Equities fund actively managed by GraniteShares. DRUP is passively managed, while FBL is actively managed. Over the past 3 years, DRUP returned 16.43%/yr vs 28.66%/yr for FBL. A 0.63 correlation means they provide meaningful diversification when combined. DRUP charges 0.60%/yr vs 1.09%/yr for FBL.

Performance

DRUP vs. FBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Nasdaq Select Disruptors ETF (DRUP) and GraniteShares 2x Long META Daily ETF (FBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRUP achieves a -3.78% return, which is significantly higher than FBL's -14.12% return.

DRUP

• 1D: -0.12%
• 1M: 4.97%
• 6M: -4.10%
• YTD: -3.78%
• 1Y: 4.84%
• 3Y*: 16.43%
• 5Y*: 9.27%
• 10Y*: —

FBL

• 1D: -3.69%
• 1M: 30.22%
• 6M: -8.94%
• YTD: -14.12%
• 1Y: -33.72%
• 3Y*: 28.66%
• 5Y*: —
• 10Y*: —

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

DRUP vs. FBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DRUP GraniteShares Nasdaq Select Disruptors ETF	-3.78%	18.18%	23.11%	42.32%	-5.06%
FBL GraniteShares 2x Long META Daily ETF	-14.12%	0.50%	112.72%	341.59%	-1.38%

Correlation

The correlation between DRUP and FBL is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	0.63

The correlation between DRUP and FBL shifts across timeframes, from 0.52 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

DRUP vs. FBL - Sectors Allocation Comparison

Sectors	DRUP	FBL
Technology	48.7%	-
Healthcare	31.8%	-
Communication Services	14.5%	66.7%
Industrials	3.1%	-
Consumer Cyclical	1.3%	-
Real Estate	0.6%	-
Financial Services	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Utilities	-	-

Return for Risk

DRUP vs. FBL — Risk / Return Rank

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

DRUP

DRUP Risk / Return Rank: 13
DRUP Sharpe Ratio Rank: 13
DRUP Sortino Ratio Rank: 13
DRUP Omega Ratio Rank: 13
DRUP Calmar Ratio Rank: 12
DRUP Martin Ratio Rank: 12

FBL

FBL Risk / Return Rank: 6
FBL Sharpe Ratio Rank: 5
FBL Sortino Ratio Rank: 6
FBL Omega Ratio Rank: 6
FBL Calmar Ratio Rank: 5
FBL Martin Ratio Rank: 5

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.

DRUP vs. FBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Nasdaq Select Disruptors ETF (DRUP) 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.

	DRUP	FBL	Difference
Sharpe ratio: Return per unit of total volatility	0.24	-0.44	+0.68
Sortino ratio: Return per unit of downside risk	0.47	-0.22	+0.69
Omega ratio: Gain probability vs. loss probability	1.06	0.97	+0.09
Calmar ratio: Return relative to maximum drawdown	0.21	-0.55	+0.76
Martin ratio: Return relative to average drawdown	0.50	-0.91	+1.41

DRUP vs. FBL - Sharpe Ratio Comparison

The current DRUP Sharpe Ratio is 0.24, which is higher than the FBL Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of DRUP and FBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DRUP vs. FBL - Drawdown Comparison

The maximum DRUP drawdown since its inception was -31.29%, smaller than the maximum FBL drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for DRUP and FBL.

Drawdown Indicators

	DRUP	FBL	Difference
Max Drawdown Largest peak-to-trough decline	-31.29%	-61.15%	+29.86%
Max Drawdown (1Y) Largest decline over 1 year	-23.21%	-61.03%	+37.82%
Max Drawdown (3Y) Largest decline over 3 years	-23.77%	-61.15%	+37.38%
Max Drawdown (5Y) Largest decline over 5 years	-31.29%	—	—
Current Drawdown Current decline from peak	-6.61%	-44.34%	+37.73%
Average Drawdown Average peak-to-trough decline	-8.42%	-17.49%	+9.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.77%	37.05%	-27.28%

Volatility

DRUP vs. FBL - Volatility Comparison

The current volatility for GraniteShares Nasdaq Select Disruptors ETF (DRUP) is 5.59%, while GraniteShares 2x Long META Daily ETF (FBL) has a volatility of 31.85%. This indicates that DRUP 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

	DRUP	FBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	31.85%	-26.26%
Volatility (6M) Calculated over the trailing 6-month period	16.81%	61.90%	-45.09%
Volatility (1Y) Calculated over the trailing 1-year period	20.20%	77.12%	-56.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.93%	72.36%	-50.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.19%	72.36%	-49.17%

DRUP vs. FBL - Expense Ratio Comparison

DRUP has a 0.60% expense ratio, which is lower than FBL's 1.09% expense ratio.

Dividends

DRUP vs. FBL - Dividend Comparison

DRUP has not paid dividends to shareholders, while FBL's dividend yield for the trailing twelve months is around 2.41%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DRUP GraniteShares Nasdaq Select Disruptors ETF	0.00%	0.00%	0.00%	0.40%	0.51%	0.28%	0.53%	0.19%
FBL GraniteShares 2x Long META Daily ETF	2.41%	2.07%	0.00%	51.58%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DRUP and FBL in my portfolio?

DRUP and FBL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRUP or FBL?

FBL has higher volatility (31.85%) compared to DRUP (5.59%). In terms of maximum drawdown, DRUP dropped -31.29% vs FBL's -61.15%.

Which ETF is better, DRUP or FBL?

On 3-year performance, FBL leads with 28.66% vs 16.43% for DRUP. On fees, DRUP is cheaper at 0.60% per year. On volatility, DRUP has been the lower-risk option at 5.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRUP or FBL?

Over the 3-year period, FBL has performed better with a 28.66% return vs 16.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRUP or FBL?

DRUP is cheaper with a 0.60% expense ratio, compared with 1.09% for FBL.

Which ETF pays a higher dividend yield, DRUP or FBL?

FBL has the higher dividend yield at 2.41%, compared with 0.00% for DRUP.

What is the main difference between DRUP and FBL?

DRUP is categorized as Large Cap Growth Equities, while FBL is Leveraged Equities. Their fees differ too: 0.60% for DRUP and 1.09% for FBL.

Which has better risk-adjusted returns?

DRUP currently has the higher Sharpe Ratio (0.24 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.