NOWL vs. ADBG
NOWL (GraniteShares 2x Long NOW Daily ETF) and ADBG (Leverage Shares 2X Long ADBE Daily ETF) are both Leveraged Equities funds. Both are actively managed. A 0.65 correlation means they provide meaningful diversification when combined. NOWL charges 1.50%/yr vs 0.75%/yr for ADBG.
Performance
NOWL vs. ADBG - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with NOWL having a -55.17% return and ADBG slightly higher at -52.94%.
NOWL
- 1D
- -15.19%
- 1M
- 53.22%
- YTD
- -55.17%
- 6M
- -63.42%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ADBG
- 1D
- -4.56%
- 1M
- -1.43%
- YTD
- -52.94%
- 6M
- -46.73%
- 1Y
- -70.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOWL vs. ADBG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NOWL GraniteShares 2x Long NOW Daily ETF | -55.17% | -42.58% |
ADBG Leverage Shares 2X Long ADBE Daily ETF | -52.94% | -15.95% |
Correlation
The correlation between NOWL and ADBG is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025 | 0.65 |
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Return for Risk
NOWL vs. ADBG — Risk / Return Rank
NOWL
ADBG
NOWL vs. ADBG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NOW Daily ETF (NOWL) and Leverage Shares 2X Long ADBE Daily ETF (ADBG). 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
| NOWL | ADBG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.76 | -0.91 | +0.15 |
Drawdowns
NOWL vs. ADBG - Drawdown Comparison
The maximum NOWL drawdown since its inception was -86.57%, which is greater than ADBG's maximum drawdown of -76.71%. Use the drawdown chart below to compare losses from any high point for NOWL and ADBG.
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Drawdown Indicators
| NOWL | ADBG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.57% | -76.71% | -9.86% |
Max Drawdown (1Y)Largest decline over 1 year | — | -76.23% | — |
Current DrawdownCurrent decline from peak | -76.11% | -71.42% | -4.69% |
Average DrawdownAverage peak-to-trough decline | -47.53% | -41.64% | -5.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 50.12% | — |
Volatility
NOWL vs. ADBG - Volatility Comparison
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Volatility by Period
| NOWL | ADBG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 27.71% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 56.21% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 103.33% | 67.26% | +36.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.33% | 66.94% | +36.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.33% | 66.94% | +36.39% |
NOWL vs. ADBG - Expense Ratio Comparison
NOWL has a 1.50% expense ratio, which is higher than ADBG's 0.75% expense ratio.
Dividends
NOWL vs. ADBG - Dividend Comparison
Neither NOWL nor ADBG has paid dividends to shareholders.
Frequently Asked Questions
NOWL and ADBG have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ADBG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ADBG is cheaper with a 0.75% expense ratio, compared with 1.50% for NOWL.
NOWL and ADBG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for NOWL and 0.75% for ADBG.
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