NOWL vs. BAR

Last updated Jul 14, 2026

NOWL (GraniteShares 2x Long NOW Daily ETF) and BAR (GraniteShares Gold Trust) are both exchange-traded funds - NOWL is a Leveraged Equities fund actively managed by GraniteShares, while BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt). NOWL is actively managed, while BAR is passively managed. At a 0.01 correlation, their price movements are largely independent. NOWL charges 1.50%/yr vs 0.17%/yr for BAR.

Performance

NOWL vs. BAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long NOW Daily ETF (NOWL) and GraniteShares Gold Trust (BAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOWL achieves a -62.15% return, which is significantly lower than BAR's -7.30% return.

NOWL

• 1D: 6.48%
• 1M: 14.11%
• 6M: -56.11%
• YTD: -62.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAR

• 1D: -2.62%
• 1M: -5.02%
• 6M: -12.99%
• YTD: -7.30%
• 1Y: 18.97%
• 3Y*: 26.74%
• 5Y*: 16.75%
• 10Y*: —

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

NOWL vs. BAR - Yearly Performance Comparison

	2026 (YTD)	2025
NOWL GraniteShares 2x Long NOW Daily ETF	-62.15%	-43.64%
BAR GraniteShares Gold Trust	-7.30%	28.84%

Correlation

The correlation between NOWL and BAR is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.01

Return for Risk

NOWL vs. BAR — Risk / Return Rank

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

NOWL

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

BAR

BAR Risk / Return Rank: 22
BAR Sharpe Ratio Rank: 24
BAR Sortino Ratio Rank: 22
BAR Omega Ratio Rank: 26
BAR Calmar Ratio Rank: 20
BAR Martin Ratio Rank: 20

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.

NOWL vs. BAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long NOW Daily ETF (NOWL) and GraniteShares Gold Trust (BAR). 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.

	NOWL	BAR	Difference
Sharpe ratio: Return per unit of total volatility	—	0.69	—
Sortino ratio: Return per unit of downside risk	—	1.03	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	0.73	—
Martin ratio: Return relative to average drawdown	—	1.78	—

Drawdowns

NOWL vs. BAR - Drawdown Comparison

The maximum NOWL drawdown since its inception was -86.64%, which is greater than BAR's maximum drawdown of -26.15%. Use the drawdown chart below to compare losses from any high point for NOWL and BAR.

Drawdown Indicators

	NOWL	BAR	Difference
Max Drawdown Largest peak-to-trough decline	-86.64%	-26.15%	-60.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.15%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.15%	—
Current Drawdown Current decline from peak	-79.83%	-25.90%	-53.93%
Average Drawdown Average peak-to-trough decline	-50.94%	-6.64%	-44.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.66%	—

Volatility

Volatility by Period

	NOWL	BAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	104.54%	27.76%	+76.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	104.54%	18.29%	+86.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	104.54%	16.59%	+87.95%

NOWL vs. BAR - Expense Ratio Comparison

NOWL has a 1.50% expense ratio, which is higher than BAR's 0.17% expense ratio.

Dividends

NOWL vs. BAR - Dividend Comparison

Neither NOWL nor BAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NOWL and BAR in my portfolio?

NOWL and BAR have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NOWL or BAR?

On fees, BAR is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NOWL or BAR?

BAR is cheaper with a 0.17% expense ratio, compared with 1.50% for NOWL.

Which ETF pays a higher dividend yield, NOWL or BAR?

NOWL and BAR have nearly identical dividend yields, around 0.00%.

What is the main difference between NOWL and BAR?

NOWL is categorized as Leveraged Equities, while BAR is Gold. Their fees differ too: 1.50% for NOWL and 0.17% for BAR.