FBL vs. BAR
FBL (GraniteShares 2x Long META Daily ETF) and BAR (GraniteShares Gold Trust) are both exchange-traded funds - FBL is a Leveraged Equities fund actively managed by GraniteShares, while BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt). FBL is actively managed, while BAR is passively managed. Over the past 3 years, FBL returned 28.66%/yr vs 26.74%/yr for BAR. At a 0.08 correlation, their price movements are largely independent. FBL charges 1.09%/yr vs 0.17%/yr for BAR.
Performance
FBL vs. BAR - Performance Comparison
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Returns By Period
In the year-to-date period, FBL achieves a -14.12% return, which is significantly lower than BAR's -7.30% return.
FBL
- 1D
- -3.69%
- 1M
- 30.22%
- 6M
- -8.94%
- YTD
- -14.12%
- 1Y
- -33.72%
- 3Y*
- 28.66%
- 5Y*
- —
- 10Y*
- —
BAR
- 1D
- -2.62%
- 1M
- -5.02%
- 6M
- -12.99%
- YTD
- -7.30%
- 1Y
- 18.97%
- 3Y*
- 26.74%
- 5Y*
- 16.75%
- 10Y*
- —
FBL vs. BAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FBL GraniteShares 2x Long META Daily ETF | -14.12% | 0.50% | 112.72% | 341.59% | -1.38% |
BAR GraniteShares Gold Trust | -7.30% | 64.12% | 26.97% | 12.96% | 2.32% |
Correlation
The correlation between FBL and BAR is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
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
FBL vs. BAR — Risk / Return Rank
FBL
BAR
FBL vs. BAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long META Daily ETF (FBL) and GraniteShares Gold Trust (BAR). 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 | BAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.15 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 0.73 | -1.28 |
| Martin ratioReturn relative to average drawdown | -0.91 | 1.78 | -2.69 |
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Drawdowns
FBL vs. BAR - Drawdown Comparison
The maximum FBL drawdown since its inception was -61.15%, which is greater than BAR's maximum drawdown of -26.15%. Use the drawdown chart below to compare losses from any high point for FBL and BAR.
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Drawdown Indicators
| FBL | BAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.15% | -26.15% | -35.00% |
Max Drawdown (1Y)Largest decline over 1 year | -61.03% | -26.15% | -34.88% |
Max Drawdown (3Y)Largest decline over 3 years | -61.15% | -26.15% | -35.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.15% | — |
Current DrawdownCurrent decline from peak | -44.34% | -25.90% | -18.44% |
Average DrawdownAverage peak-to-trough decline | -17.49% | -6.64% | -10.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.05% | 10.66% | +26.39% |
Volatility
FBL vs. BAR - Volatility Comparison
GraniteShares 2x Long META Daily ETF (FBL) has a higher volatility of 31.85% compared to GraniteShares Gold Trust (BAR) at 7.49%. This indicates that FBL's price experiences larger fluctuations and is considered to be riskier than BAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBL | BAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.85% | 7.49% | +24.36% |
Volatility (6M)Calculated over the trailing 6-month period | 61.90% | 24.02% | +37.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.12% | 27.76% | +49.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.36% | 18.29% | +54.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.36% | 16.59% | +55.77% |
FBL vs. BAR - Expense Ratio Comparison
FBL has a 1.09% expense ratio, which is higher than BAR's 0.17% expense ratio.
Dividends
FBL vs. BAR - Dividend Comparison
FBL's dividend yield for the trailing twelve months is around 2.41%, while BAR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% |
FBL GraniteShares 2x Long META Daily ETF | 2.41% | 2.07% | 0.00% | 51.58% |
Frequently Asked Questions
FBL and BAR have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBL has higher volatility (31.85%) compared to BAR (7.49%). In terms of maximum drawdown, FBL dropped -61.15% vs BAR's -26.15%.
On 3-year performance, FBL leads with 28.66% vs 26.74% for BAR. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 7.49%. 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 28.66% return vs 26.74%. 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 2.41%, compared with 0.00% for BAR.
FBL is categorized as Leveraged Equities, while BAR is Gold. Their fees differ too: 1.09% for FBL and 0.17% for BAR.
BAR currently has the higher Sharpe Ratio (0.69 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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