NBIL vs. FBL
NBIL (GraniteShares 2X Long NBIS Daily ETF) and FBL (GraniteShares 2x Long META Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. At a 0.18 correlation, their price movements are largely independent. NBIL charges 1.50%/yr vs 1.15%/yr for FBL.
Performance
NBIL vs. FBL - Performance Comparison
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Returns By Period
In the year-to-date period, NBIL achieves a 462.18% return, which is significantly higher than FBL's -19.72% return.
NBIL
- 1D
- -7.17%
- 1M
- 83.16%
- YTD
- 462.18%
- 6M
- 280.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBL
- 1D
- 8.48%
- 1M
- 2.55%
- YTD
- -19.72%
- 6M
- -15.34%
- 1Y
- -29.78%
- 3Y*
- 33.25%
- 5Y*
- —
- 10Y*
- —
NBIL vs. FBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NBIL GraniteShares 2X Long NBIS Daily ETF | 462.18% | -59.19% |
FBL GraniteShares 2x Long META Daily ETF | -19.72% | -18.71% |
Correlation
The correlation between NBIL and FBL is 0.18, 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 Oct 8, 2025 | 0.18 |
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Return for Risk
NBIL vs. FBL — Risk / Return Rank
NBIL
FBL
NBIL vs. FBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2X Long NBIS Daily ETF (NBIL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| NBIL | FBL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.30 | 1.12 | +0.18 |
Drawdowns
NBIL vs. FBL - Drawdown Comparison
The maximum NBIL drawdown since its inception was -77.87%, which is greater than FBL's maximum drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for NBIL and FBL.
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Drawdown Indicators
| NBIL | FBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.87% | -61.15% | -16.72% |
Max Drawdown (1Y)Largest decline over 1 year | — | -61.03% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -61.15% | — |
Current DrawdownCurrent decline from peak | -9.98% | -47.97% | +37.99% |
Average DrawdownAverage peak-to-trough decline | -44.90% | -16.41% | -28.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 32.76% | — |
Volatility
NBIL vs. FBL - Volatility Comparison
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Volatility by Period
| NBIL | FBL | 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 | 199.38% | 70.42% | +128.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 199.38% | 71.06% | +128.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 199.38% | 71.06% | +128.32% |
NBIL vs. FBL - Expense Ratio Comparison
NBIL has a 1.50% expense ratio, which is higher than FBL's 1.15% expense ratio.
Dividends
NBIL vs. FBL - Dividend Comparison
NBIL has not paid dividends to shareholders, while FBL's dividend yield for the trailing twelve months is around 2.58%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBL GraniteShares 2x Long META Daily ETF | 2.58% | 2.07% | 0.00% | 51.58% |
NBIL GraniteShares 2X Long NBIS Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NBIL and FBL have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FBL is cheaper at 1.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FBL is cheaper with a 1.15% expense ratio, compared with 1.50% for NBIL.
FBL has the higher dividend yield at 2.58%, compared with 0.00% for NBIL.
Their fees differ too: 1.50% for NBIL and 1.15% for FBL.
Find the right allocation for NBIL and FBL
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