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 12.26%/yr vs 27.47%/yr for BAR. Their 0.07 correlation means their historical movements had little consistent relationship. 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 -39.43% return, which is significantly lower than BAR's -6.21% return.
FBL
- 1D
- 6.66%
- 1M
- -11.35%
- 6M
- -47.34%
- YTD
- -39.43%
- 1Y
- -56.50%
- 3Y*
- 12.26%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 61.04%
BAR
- 1D
- -1.51%
- 1M
- -1.73%
- 6M
- -16.49%
- YTD
- -6.21%
- 1Y
- 20.39%
- 3Y*
- 27.47%
- 5Y*
- 17.20%
- 10Y*
- —
- ALL TIME*
- 13.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.48M | $7.76M | $9.82M | |
| $25.01M | $36.98M | $35.23M |
FBL vs. BAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FBL GraniteShares 2x Long META Daily ETF | -39.43% | 0.50% | 112.72% | 341.59% | -1.38% |
BAR GraniteShares Gold Trust | -6.21% | 64.12% | 26.97% | 12.96% | 2.32% |
Correlation
The correlation between FBL and BAR is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.07 |
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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 | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.17 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 0.87 | -1.81 |
| Martin ratioReturn relative to average drawdown | -1.52 | 1.88 | -3.40 |
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Drawdowns
FBL vs. BAR - Drawdown Comparison
The maximum FBL drawdown since its inception was -63.20%, which is greater than BAR's maximum drawdown of -26.32%. 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 | -63.20% | -26.32% | -36.88% |
Max Drawdown (1Y)Largest decline over 1 year | -63.09% | -26.32% | -36.77% |
Max Drawdown (3Y)Largest decline over 3 years | -63.20% | -26.32% | -36.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.32% | — |
Current DrawdownCurrent decline from peak | -60.75% | -25.04% | -35.71% |
Average DrawdownAverage peak-to-trough decline | -18.01% | -6.75% | -11.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.96% | 12.15% | +26.81% |
Volatility
FBL vs. BAR - Volatility Comparison
GraniteShares 2x Long META Daily ETF (FBL) has a higher volatility of 31.44% compared to GraniteShares Gold Trust (BAR) at 6.32%. 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 | 31.44% | 6.32% | +25.12% |
Volatility (6M)Calculated over the trailing 6-month period | 61.35% | 23.33% | +38.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.78% | 27.91% | +51.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.81% | 18.38% | +54.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.81% | 16.61% | +56.20% |
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 3.42%, 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 | 3.42% | 2.07% | 0.00% | 51.58% |
Frequently Asked Questions
FBL and BAR have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBL has higher volatility (31.44%) compared to BAR (6.32%). In terms of maximum drawdown, FBL dropped -63.20% vs BAR's -26.32%.
On 3-year performance, BAR leads with 27.47% vs 12.26% for FBL. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 6.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BAR has performed better with a 27.47% return vs 12.26%. 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 3.42%, 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 (0.82 vs -0.78), 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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