FBL vs. BAMU

Last updated Jun 24, 2026

FBL (GraniteShares 2x Long META Daily ETF) and BAMU (Brookstone Ultra-Short Bond ETF) are both exchange-traded funds - FBL is a Leveraged Equities fund actively managed by GraniteShares, while BAMU is a Ultrashort Bond fund actively managed by Brookstone. Both are actively managed. Over the past year, FBL returned -48.06% vs 2.87% for BAMU. At a 0.02 correlation, their price movements are largely independent. FBL charges 1.15%/yr vs 1.09%/yr for BAMU.

Performance

FBL vs. BAMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long META Daily ETF (FBL) and Brookstone Ultra-Short Bond ETF (BAMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBL achieves a -35.56% return, which is significantly lower than BAMU's 1.18% return.

FBL

• 1D: -0.57%
• 1M: -17.03%
• YTD: -35.56%
• 6M: -36.69%
• 1Y: -48.06%
• 3Y*: 20.64%
• 5Y*: —
• 10Y*: —

BAMU

• 1D: 0.00%
• 1M: 0.16%
• YTD: 1.18%
• 6M: 1.29%
• 1Y: 2.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBL vs. BAMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FBL GraniteShares 2x Long META Daily ETF	-35.56%	0.50%	112.72%	24.86%
BAMU Brookstone Ultra-Short Bond ETF	1.18%	3.21%	4.14%	1.20%

Correlation

The correlation between FBL and BAMU is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.02

The correlation between FBL and BAMU shifts across timeframes, from -0.17 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FBL vs. BAMU — Risk / Return Rank

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

FBL

FBL Risk / Return Rank: 3
FBL Sharpe Ratio Rank: 4
FBL Sortino Ratio Rank: 4
FBL Omega Ratio Rank: 4
FBL Calmar Ratio Rank: 2
FBL Martin Ratio Rank: 2

BAMU

BAMU Risk / Return Rank: 98
BAMU Sharpe Ratio Rank: 98
BAMU Sortino Ratio Rank: 98
BAMU Omega Ratio Rank: 98
BAMU Calmar Ratio Rank: 99
BAMU Martin Ratio Rank: 99

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.

FBL vs. BAMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long META Daily ETF (FBL) and Brookstone Ultra-Short Bond ETF (BAMU). 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.

	FBL	BAMU	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	4.94	-5.61
Sortino ratio: Return per unit of downside risk	-0.77	8.71	-9.48
Omega ratio: Gain probability vs. loss probability	0.90	2.41	-1.51
Calmar ratio: Return relative to maximum drawdown	-0.79	24.37	-25.16
Martin ratio: Return relative to average drawdown	-1.37	96.52	-97.90

FBL vs. BAMU - Sharpe Ratio Comparison

The current FBL Sharpe Ratio is -0.67, which is lower than the BAMU Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of FBL and BAMU, 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

FBL vs. BAMU - Drawdown Comparison

The maximum FBL drawdown since its inception was -61.15%, which is greater than BAMU's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for FBL and BAMU.

Drawdown Indicators

	FBL	BAMU	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-0.36%	-60.79%
Max Drawdown (1Y) Largest decline over 1 year	-61.03%	-0.12%	-60.91%
Max Drawdown (3Y) Largest decline over 3 years	-61.15%	—	—
Current Drawdown Current decline from peak	-58.24%	0.00%	-58.24%
Average Drawdown Average peak-to-trough decline	-16.96%	-0.02%	-16.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.05%	0.03%	+35.02%

Volatility

FBL vs. BAMU - Volatility Comparison

GraniteShares 2x Long META Daily ETF (FBL) has a higher volatility of 26.20% compared to Brookstone Ultra-Short Bond ETF (BAMU) at 0.09%. This indicates that FBL's price experiences larger fluctuations and is considered to be riskier than BAMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBL	BAMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.20%	0.09%	+26.11%
Volatility (6M) Calculated over the trailing 6-month period	55.87%	0.39%	+55.48%
Volatility (1Y) Calculated over the trailing 1-year period	72.38%	0.58%	+71.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.35%	0.87%	+70.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.35%	0.87%	+70.48%

FBL vs. BAMU - Expense Ratio Comparison

FBL has a 1.15% expense ratio, which is higher than BAMU's 1.09% expense ratio.

Dividends

FBL vs. BAMU - Dividend Comparison

FBL's dividend yield for the trailing twelve months is around 3.22%, more than BAMU's 3.05% yield.

Position	TTM	2025	2024	2023
BAMU Brookstone Ultra-Short Bond ETF	3.05%	3.20%	3.97%	0.84%
FBL GraniteShares 2x Long META Daily ETF	3.22%	2.07%	0.00%	51.58%

Frequently Asked Questions

Can I hold both FBL and BAMU in my portfolio?

FBL and BAMU have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBL or BAMU?

FBL has higher volatility (26.20%) compared to BAMU (0.09%). In terms of maximum drawdown, FBL dropped -61.15% vs BAMU's -0.36%.

Which ETF is better, FBL or BAMU?

On 1-year performance, BAMU leads with 2.87% vs -48.06% for FBL. On fees, BAMU is cheaper at 1.09% per year. On volatility, BAMU has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBL or BAMU?

Over the 1-year period, BAMU has performed better with a 2.87% return vs -48.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBL or BAMU?

BAMU is cheaper with a 1.09% expense ratio, compared with 1.15% for FBL.

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

FBL has the higher dividend yield at 3.22%, compared with 3.05% for BAMU.

What is the main difference between FBL and BAMU?

FBL is categorized as Leveraged Equities, while BAMU is Ultrashort Bond. They also come from different issuers: GraniteShares and Brookstone. Their fees differ too: 1.15% for FBL and 1.09% for BAMU.

Which has better risk-adjusted returns?

BAMU currently has the higher Sharpe Ratio (4.94 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.