PDDL vs. OPEG
PDDL (GraniteShares 2x Long PDD Daily ETF) and OPEG (Leverage Shares 2X Long OPEN Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.36 correlation, their price movements are largely independent. PDDL charges 1.50%/yr vs 0.75%/yr for OPEG.
Performance
PDDL vs. OPEG - Performance Comparison
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Returns By Period
In the year-to-date period, PDDL achieves a -49.84% return, which is significantly higher than OPEG's -59.07% return.
PDDL
- 1D
- -2.29%
- 1M
- -33.70%
- YTD
- -49.84%
- 6M
- -54.02%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OPEG
- 1D
- -21.12%
- 1M
- -38.29%
- YTD
- -59.07%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PDDL vs. OPEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PDDL GraniteShares 2x Long PDD Daily ETF | -49.84% | 1.15% |
OPEG Leverage Shares 2X Long OPEN Daily ETF | -59.07% | -33.53% |
Correlation
The correlation between PDDL and OPEG is 0.36, 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 12, 2025 | 0.36 |
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Return for Risk
PDDL vs. OPEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long PDD Daily ETF (PDDL) and Leverage Shares 2X Long OPEN Daily ETF (OPEG). 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
| PDDL | OPEG | Difference | |
|---|---|---|---|
Sharpe Ratio (All Time)Calculated using the full available price history | -0.75 | -0.62 | -0.13 |
Drawdowns
PDDL vs. OPEG - Drawdown Comparison
The maximum PDDL drawdown since its inception was -68.62%, smaller than the maximum OPEG drawdown of -73.22%. Use the drawdown chart below to compare losses from any high point for PDDL and OPEG.
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Drawdown Indicators
| PDDL | OPEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.62% | -73.22% | +4.60% |
Current DrawdownCurrent decline from peak | -67.18% | -72.80% | +5.62% |
Average DrawdownAverage peak-to-trough decline | -29.89% | -51.54% | +21.65% |
Volatility
PDDL vs. OPEG - Volatility Comparison
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Volatility by Period
| PDDL | OPEG | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 66.58% | 150.74% | -84.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.58% | 150.74% | -84.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.58% | 150.74% | -84.16% |
PDDL vs. OPEG - Expense Ratio Comparison
PDDL has a 1.50% expense ratio, which is higher than OPEG's 0.75% expense ratio.
Dividends
PDDL vs. OPEG - Dividend Comparison
PDDL's dividend yield for the trailing twelve months is around 0.67%, while OPEG has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
OPEG Leverage Shares 2X Long OPEN Daily ETF | 0.00% | 0.00% |
PDDL GraniteShares 2x Long PDD Daily ETF | 0.67% | 0.33% |
Frequently Asked Questions
PDDL and OPEG have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OPEG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OPEG is cheaper with a 0.75% expense ratio, compared with 1.50% for PDDL.
PDDL has the higher dividend yield at 0.67%, compared with 0.00% for OPEG.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for PDDL and 0.75% for OPEG.
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