FBL vs. META
FBL (GraniteShares 2x Long META Daily ETF) is Leveraged Equities fund actively managed by GraniteShares, while META (Meta Platforms, Inc.) is a stock. Over the past 3 years, FBL returned 20.64%/yr vs 25.24%/yr for META. With a 0.99 correlation, they move nearly in lockstep.
Performance
FBL vs. META - Performance Comparison
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Returns By Period
In the year-to-date period, FBL achieves a -35.56% return, which is significantly lower than META's -14.67% return.
FBL
- 1D
- -0.57%
- 1M
- -17.03%
- YTD
- -35.56%
- 6M
- -36.69%
- 1Y
- -48.06%
- 3Y*
- 20.64%
- 5Y*
- —
- 10Y*
- —
META
- 1D
- -0.29%
- 1M
- -7.79%
- YTD
- -14.67%
- 6M
- -15.30%
- 1Y
- -19.25%
- 3Y*
- 25.24%
- 5Y*
- 10.57%
- 10Y*
- 17.60%
FBL vs. META - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FBL GraniteShares 2x Long META Daily ETF | -35.56% | 0.50% | 112.72% | 341.59% | -1.38% |
META Meta Platforms, Inc. | -14.67% | 13.09% | 66.05% | 194.13% | 4.91% |
Correlation
The correlation between FBL and META is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.99 |
The correlation between FBL and META has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
FBL vs. META — Risk / Return Rank
FBL
META
FBL vs. META - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long META Daily ETF (FBL) and Meta Platforms, Inc. (META). 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 | META | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.93 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.58 | -0.21 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.16 | -0.21 |
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Drawdowns
FBL vs. META - Drawdown Comparison
The maximum FBL drawdown since its inception was -61.15%, smaller than the maximum META drawdown of -76.74%. Use the drawdown chart below to compare losses from any high point for FBL and META.
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Drawdown Indicators
| FBL | META | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.15% | -76.74% | +15.59% |
Max Drawdown (1Y)Largest decline over 1 year | -61.03% | -33.30% | -27.73% |
Max Drawdown (3Y)Largest decline over 3 years | -61.15% | -34.15% | -27.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.74% | — |
Current DrawdownCurrent decline from peak | -58.24% | -28.60% | -29.64% |
Average DrawdownAverage peak-to-trough decline | -16.96% | -15.84% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.05% | 16.58% | +18.47% |
Volatility
FBL vs. META - Volatility Comparison
GraniteShares 2x Long META Daily ETF (FBL) has a higher volatility of 26.20% compared to Meta Platforms, Inc. (META) at 12.90%. This indicates that FBL's price experiences larger fluctuations and is considered to be riskier than META based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBL | META | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.20% | 12.90% | +13.30% |
Volatility (6M)Calculated over the trailing 6-month period | 55.87% | 27.85% | +28.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.38% | 36.18% | +36.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.35% | 44.18% | +27.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.35% | 38.76% | +32.59% |
Dividends
FBL vs. META - Dividend Comparison
FBL's dividend yield for the trailing twelve months is around 3.22%, more than META's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBL GraniteShares 2x Long META Daily ETF | 3.22% | 2.07% | 0.00% | 51.58% |
META Meta Platforms, Inc. | 0.38% | 0.32% | 0.34% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, FBL and META move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FBL has higher volatility (26.20%) compared to META (12.90%). In terms of maximum drawdown, FBL dropped -61.15% vs META's -76.74%.
META currently has the higher Sharpe Ratio (-0.54 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.
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