METW vs. FBL

Last updated Jul 31, 2026

METW (Roundhill Meta Weeklypay ETF) and FBL (GraniteShares 2x Long META Daily ETF) are both exchange-traded funds - METW is a Technology Equities fund tracking the Ball Metaverse Index, while FBL is a Leveraged Equities fund actively managed by GraniteShares. METW is passively managed, while FBL is actively managed. Over the past year, METW returned -30.62% vs -53.15% for FBL. Their 0.99 correlation means they have historically moved very closely together. METW charges 0.59%/yr vs 1.09%/yr for FBL.

Performance

METW vs. FBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Meta Weeklypay ETF (METW) 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, METW achieves a -24.27% return, which is significantly higher than FBL's -43.22% return.

METW

• 1D: -9.41%
• 1M: -6.14%
• 6M: -33.44%
• YTD: -24.27%
• 1Y: -30.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -28.50%

FBL

• 1D: -16.51%
• 1M: -11.76%
• 6M: -53.61%
• YTD: -43.22%
• 1Y: -53.15%
• 3Y*: 10.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 58.26%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBL GraniteShares 2x Long META Daily ETF	$24.32M	$41.45M	$35.06M
METW Roundhill Meta Weeklypay ETF	$373.93K	$425.63K	$520.64K

METW vs. FBL - Yearly Performance Comparison

	2026 (YTD)	2025
METW Roundhill Meta Weeklypay ETF	-24.27%	-9.14%
FBL GraniteShares 2x Long META Daily ETF	-43.22%	-19.38%

Correlation

The correlation between METW and FBL is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.99

The correlation between METW and FBL has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

METW vs. FBL - Sectors Allocation Comparison

Sectors	METW	FBL
Communication Services	20.0%	66.7%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

METW vs. FBL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

METW

METW Risk / Return Rank: 3
METW Sharpe Ratio Rank: 4
METW Sortino Ratio Rank: 4
METW Omega Ratio Rank: 4
METW Calmar Ratio Rank: 3
METW Martin Ratio Rank: 2

FBL

FBL Risk / Return Rank: 3
FBL Sharpe Ratio Rank: 4
FBL Sortino Ratio Rank: 4
FBL Omega Ratio Rank: 4
FBL Calmar Ratio Rank: 2
FBL Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

METW vs. FBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Meta Weeklypay ETF (METW) 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.

	METW	FBL	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	-0.67	+0.02
Sortino ratio: Return per unit of downside risk	-0.76	-0.79	+0.03
Omega ratio: Gain probability vs. loss probability	0.90	0.90	0.00
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.84	+0.09
Martin ratio: Return relative to average drawdown	-1.32	-1.37	+0.05

METW vs. FBL - Sharpe Ratio Comparison

The current METW Sharpe Ratio is -0.65, which is comparable to the FBL Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of METW and FBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

METW vs. FBL - Drawdown Comparison

The maximum METW drawdown since its inception was -40.52%, smaller than the maximum FBL drawdown of -63.20%. Use the drawdown chart below to compare losses from any high point for METW and FBL.

Drawdown Indicators

	METW	FBL	Difference
Max Drawdown Largest peak-to-trough decline	-40.52%	-63.20%	+22.68%
Max Drawdown (1Y) Largest decline over 1 year	-40.52%	-63.09%	+22.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-63.20%	—
Current Drawdown Current decline from peak	-39.91%	-63.20%	+23.29%
Average Drawdown Average peak-to-trough decline	-19.19%	-17.96%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.24%	38.77%	-15.53%

Volatility

METW vs. FBL - Volatility Comparison

The current volatility for Roundhill Meta Weeklypay ETF (METW) is 20.64%, while GraniteShares 2x Long META Daily ETF (FBL) has a volatility of 35.29%. This indicates that METW experiences smaller price fluctuations and is considered to be less risky than FBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	METW	FBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.64%	35.29%	-14.65%
Volatility (6M) Calculated over the trailing 6-month period	38.03%	63.99%	-25.96%
Volatility (1Y) Calculated over the trailing 1-year period	47.28%	79.49%	-32.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.55%	72.77%	-27.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.55%	72.77%	-27.22%

METW vs. FBL - Expense Ratio Comparison

METW has a 0.59% expense ratio, which is lower than FBL's 1.09% expense ratio.

Dividends

METW vs. FBL - Dividend Comparison

METW's dividend yield for the trailing twelve months is around 68.04%, more than FBL's 3.65% yield.

Position	TTM	2025	2024	2023
FBL GraniteShares 2x Long META Daily ETF	3.65%	2.07%	0.00%	51.58%
METW Roundhill Meta Weeklypay ETF	68.04%	30.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both METW and FBL in my portfolio?

With a correlation of 1.00, METW and FBL 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 is riskier, METW or FBL?

FBL has higher volatility (35.29%) compared to METW (20.64%). In terms of maximum drawdown, METW dropped -40.52% vs FBL's -63.20%.

Which ETF is better, METW or FBL?

On 1-year performance, METW leads with -30.62% vs -53.15% for FBL. On fees, METW is cheaper at 0.59% per year. On volatility, METW has been the lower-risk option at 20.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, METW or FBL?

Over the 1-year period, METW has performed better with a -30.62% return vs -53.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, METW or FBL?

METW is cheaper with a 0.59% expense ratio, compared with 1.09% for FBL.

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

METW has the higher dividend yield at 68.04%, compared with 3.65% for FBL.

What is the main difference between METW and FBL?

METW is categorized as Technology Equities, while FBL is Leveraged Equities. They also come from different issuers: Roundhill and GraniteShares. Their fees differ too: 0.59% for METW and 1.09% for FBL.

Which has better risk-adjusted returns?

METW currently has the higher Sharpe Ratio (-0.65 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.