FBL vs. METW

Last updated Jun 4, 2026

FBL (GraniteShares 2x Long META Daily ETF) and METW (Roundhill Meta Weeklypay ETF) are both exchange-traded funds - FBL is a Leveraged Equities fund actively managed by GraniteShares, while METW is a Technology Equities fund tracking the Ball Metaverse Index. FBL is actively managed, while METW is passively managed. With a 0.99 correlation, they move nearly in lockstep. FBL charges 1.15%/yr vs 0.59%/yr for METW.

Performance

FBL vs. METW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long META Daily ETF (FBL) and Roundhill Meta Weeklypay ETF (METW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBL achieves a -19.72% return, which is significantly lower than METW's -8.79% return.

FBL

• 1D: 8.48%
• 1M: 2.55%
• YTD: -19.72%
• 6M: -15.34%
• 1Y: -29.78%
• 3Y*: 33.25%
• 5Y*: —
• 10Y*: —

METW

• 1D: 5.19%
• 1M: 2.24%
• YTD: -8.79%
• 6M: -5.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBL vs. METW - Yearly Performance Comparison

	2026 (YTD)	2025
FBL GraniteShares 2x Long META Daily ETF	-19.72%	-18.89%
METW Roundhill Meta Weeklypay ETF	-8.79%	-8.20%

Correlation

The correlation between FBL and METW is 0.99 - 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 (All Time) Calculated using the full available price history since Jun 20, 2025	0.99

FBL vs. METW - Sectors Allocation Comparison

Sectors	FBL	METW
Communication Services	66.7%	23.2%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FBL vs. METW — Risk / Return Rank

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

FBL

FBL Risk / Return Rank: 5
FBL Sharpe Ratio Rank: 5
FBL Sortino Ratio Rank: 6
FBL Omega Ratio Rank: 6
FBL Calmar Ratio Rank: 4
FBL Martin Ratio Rank: 4

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. METW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long META Daily ETF (FBL) and Roundhill Meta Weeklypay ETF (METW). 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.

	FBL	METW	Difference
Sharpe ratio Return per unit of total volatility	-0.42	—	—
Sortino ratio Return per unit of downside risk	-0.22	—	—
Omega ratio Gain probability vs. loss probability	0.97	—	—
Calmar ratio Return relative to maximum drawdown	-0.49	—	—
Martin ratio Return relative to average drawdown	-0.91	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FBL	METW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	-0.40	+1.52

Drawdowns

FBL vs. METW - Drawdown Comparison

The maximum FBL drawdown since its inception was -61.15%, which is greater than METW's maximum drawdown of -40.52%. Use the drawdown chart below to compare losses from any high point for FBL and METW.

Drawdown Indicators

	FBL	METW	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-40.52%	-20.63%
Max Drawdown (1Y) Largest decline over 1 year	-61.03%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-61.15%	—	—
Current Drawdown Current decline from peak	-47.97%	-27.63%	-20.34%
Average Drawdown Average peak-to-trough decline	-16.41%	-17.31%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.76%	—	—

Volatility

Volatility by Period

	FBL	METW	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	53.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	70.42%	42.57%	+27.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.06%	42.57%	+28.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.06%	42.57%	+28.49%

FBL vs. METW - Expense Ratio Comparison

FBL has a 1.15% expense ratio, which is higher than METW's 0.59% expense ratio.

Dividends

FBL vs. METW - Dividend Comparison

FBL's dividend yield for the trailing twelve months is around 2.58%, less than METW's 55.37% yield.

Position	TTM	2025	2024	2023
FBL GraniteShares 2x Long META Daily ETF	2.58%	2.07%	0.00%	51.58%
METW Roundhill Meta Weeklypay ETF	55.37%	30.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBL and METW in my portfolio?

With a correlation of 0.99, FBL and METW 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.

Which ETF is better, FBL or METW?

On fees, METW is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBL or METW?

METW is cheaper with a 0.59% expense ratio, compared with 1.15% for FBL.

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

METW has the higher dividend yield at 55.37%, compared with 2.58% for FBL.

What is the main difference between FBL and METW?

FBL is categorized as Leveraged Equities, while METW is Technology Equities. They also come from different issuers: GraniteShares and Roundhill. Their fees differ too: 1.15% for FBL and 0.59% for METW.