GOU vs. FBL

Last updated Jul 12, 2026

GOU (GraniteShares 2x Long GOOGL Daily ETF) and FBL (GraniteShares 2x Long META Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. At a 0.45 correlation, their price movements are largely independent. GOU charges 1.15%/yr vs 1.09%/yr for FBL.

Performance

GOU vs. FBL - Performance Comparison

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

Returns By Period

In the year-to-date period, GOU achieves a 16.76% return, which is significantly higher than FBL's -10.83% return.

GOU

• 1D: -1.14%
• 1M: -3.07%
• 6M: 6.56%
• YTD: 16.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBL

• 1D: 11.89%
• 1M: 35.21%
• 6M: -8.64%
• YTD: -10.83%
• 1Y: -31.18%
• 3Y*: 32.40%
• 5Y*: —
• 10Y*: —

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

GOU vs. FBL - Yearly Performance Comparison

	2026 (YTD)	2025
GOU GraniteShares 2x Long GOOGL Daily ETF	16.76%	-4.00%
FBL GraniteShares 2x Long META Daily ETF	-10.83%	4.95%

Correlation

The correlation between GOU and FBL is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 2, 2025	0.45

Return for Risk

GOU vs. FBL — Risk / Return Rank

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

GOU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FBL

FBL Risk / Return Rank: 6
FBL Sharpe Ratio Rank: 6
FBL Sortino Ratio Rank: 7
FBL Omega Ratio Rank: 7
FBL Calmar Ratio Rank: 5
FBL Martin Ratio Rank: 5

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.

GOU vs. FBL - Risk-Adjusted Trends Comparison

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

	GOU	FBL	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.43	—
Sortino ratio: Return per unit of downside risk	—	-0.21	—
Omega ratio: Gain probability vs. loss probability	—	0.97	—
Calmar ratio: Return relative to maximum drawdown	—	-0.54	—
Martin ratio: Return relative to average drawdown	—	-0.90	—

Drawdowns

GOU vs. FBL - Drawdown Comparison

The maximum GOU drawdown since its inception was -38.44%, smaller than the maximum FBL drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for GOU and FBL.

Drawdown Indicators

	GOU	FBL	Difference
Max Drawdown Largest peak-to-trough decline	-38.44%	-61.15%	+22.71%
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	-23.84%	-42.21%	+18.37%
Average Drawdown Average peak-to-trough decline	-13.04%	-17.46%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	36.96%	—

Volatility

Volatility by Period

	GOU	FBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	32.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	61.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	59.81%	76.95%	-17.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.81%	72.37%	-12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.81%	72.37%	-12.56%

GOU vs. FBL - Expense Ratio Comparison

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

Dividends

GOU vs. FBL - Dividend Comparison

GOU has not paid dividends to shareholders, while FBL's dividend yield for the trailing twelve months is around 2.33%.

Position	TTM	2025	2024	2023
FBL GraniteShares 2x Long META Daily ETF	2.33%	2.07%	0.00%	51.58%
GOU GraniteShares 2x Long GOOGL Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GOU and FBL in my portfolio?

GOU and FBL have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GOU or FBL?

On fees, FBL is cheaper at 1.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GOU or FBL?

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

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

FBL has the higher dividend yield at 2.33%, compared with 0.00% for GOU.

What is the main difference between GOU and FBL?

Their fees differ too: 1.15% for GOU and 1.09% for FBL.