ETRL vs. FBL
ETRL (GraniteShares 2x Long ETOR Daily ETF) and FBL (GraniteShares 2x Long META Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. At a 0.30 correlation, their price movements are largely independent. ETRL charges 1.50%/yr vs 1.15%/yr for FBL.
Performance
ETRL vs. FBL - Performance Comparison
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Returns By Period
In the year-to-date period, ETRL achieves a 5.50% return, which is significantly higher than FBL's -18.58% return.
ETRL
- 1D
- 2.41%
- 1M
- 0.47%
- YTD
- 5.50%
- 6M
- -33.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBL
- 1D
- 1.42%
- 1M
- 5.92%
- YTD
- -18.58%
- 6M
- -19.70%
- 1Y
- -32.97%
- 3Y*
- 34.15%
- 5Y*
- —
- 10Y*
- —
ETRL vs. FBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETRL GraniteShares 2x Long ETOR Daily ETF | 5.50% | -50.91% |
FBL GraniteShares 2x Long META Daily ETF | -18.58% | -24.75% |
Correlation
The correlation between ETRL and FBL is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | 0.30 |
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Return for Risk
ETRL vs. FBL — Risk / Return Rank
ETRL
FBL
ETRL vs. FBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long ETOR Daily ETF (ETRL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| ETRL | FBL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | 1.13 | -1.68 |
Drawdowns
ETRL vs. FBL - Drawdown Comparison
The maximum ETRL drawdown since its inception was -76.44%, which is greater than FBL's maximum drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for ETRL and FBL.
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Drawdown Indicators
| ETRL | FBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.44% | -61.15% | -15.29% |
Max Drawdown (1Y)Largest decline over 1 year | — | -61.03% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -61.15% | — |
Current DrawdownCurrent decline from peak | -48.21% | -47.23% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -47.50% | -16.45% | -31.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 32.89% | — |
Volatility
ETRL vs. FBL - Volatility Comparison
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Volatility by Period
| ETRL | FBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 53.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 105.70% | 70.43% | +35.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 105.70% | 71.02% | +34.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 105.70% | 71.02% | +34.68% |
ETRL vs. FBL - Expense Ratio Comparison
ETRL has a 1.50% expense ratio, which is higher than FBL's 1.15% expense ratio.
Dividends
ETRL vs. FBL - Dividend Comparison
ETRL has not paid dividends to shareholders, while FBL's dividend yield for the trailing twelve months is around 2.55%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ETRL GraniteShares 2x Long ETOR Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
FBL GraniteShares 2x Long META Daily ETF | 2.55% | 2.07% | 0.00% | 51.58% |
Frequently Asked Questions
ETRL and FBL have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FBL is cheaper at 1.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FBL is cheaper with a 1.15% expense ratio, compared with 1.50% for ETRL.
FBL has the higher dividend yield at 2.55%, compared with 0.00% for ETRL.
Their fees differ too: 1.50% for ETRL and 1.15% for FBL.
Find the right allocation for ETRL and FBL
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