UBRL vs. BEG

Last updated Jun 4, 2026

UBRL (GraniteShares 2x Long UBER Daily ETF) and BEG (Leverage Shares 2X Long BE Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.02 correlation, their price movements are largely independent. UBRL charges 1.15%/yr vs 0.75%/yr for BEG.

Performance

UBRL vs. BEG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long UBER Daily ETF (UBRL) and Leverage Shares 2X Long BE Daily ETF (BEG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UBRL achieves a -28.65% return, which is significantly lower than BEG's 552.25% return.

UBRL

• 1D: 0.19%
• 1M: -7.56%
• YTD: -28.65%
• 6M: -42.96%
• 1Y: -37.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BEG

• 1D: -9.38%
• 1M: -7.23%
• YTD: 552.25%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UBRL vs. BEG - Yearly Performance Comparison

	2026 (YTD)	2025
UBRL GraniteShares 2x Long UBER Daily ETF	-28.65%	1.23%
BEG Leverage Shares 2X Long BE Daily ETF	552.25%	-5.55%

Correlation

The correlation between UBRL and BEG is 0.02, 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 Dec 17, 2025	0.02

Return for Risk

UBRL vs. BEG — Risk / Return Rank

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

UBRL

UBRL Risk / Return Rank: 4
UBRL Sharpe Ratio Rank: 4
UBRL Sortino Ratio Rank: 5
UBRL Omega Ratio Rank: 5
UBRL Calmar Ratio Rank: 3
UBRL Martin Ratio Rank: 4

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.

UBRL vs. BEG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long UBER Daily ETF (UBRL) and Leverage Shares 2X Long BE Daily ETF (BEG). 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.

	UBRL	BEG	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	—	—
Sortino ratio: Return per unit of downside risk	-0.57	—	—
Omega ratio: Gain probability vs. loss probability	0.93	—	—
Calmar ratio: Return relative to maximum drawdown	-0.66	—	—
Martin ratio: Return relative to average drawdown	-1.12	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UBRL	BEG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.27	24.77	-25.04

Drawdowns

UBRL vs. BEG - Drawdown Comparison

The maximum UBRL drawdown since its inception was -56.25%, smaller than the maximum BEG drawdown of -59.85%. Use the drawdown chart below to compare losses from any high point for UBRL and BEG.

Drawdown Indicators

	UBRL	BEG	Difference
Max Drawdown Largest peak-to-trough decline	-56.25%	-59.85%	+3.60%
Max Drawdown (1Y) Largest decline over 1 year	-56.25%	—	—
Current Drawdown Current decline from peak	-54.48%	-13.90%	-40.58%
Average Drawdown Average peak-to-trough decline	-28.34%	-16.14%	-12.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.27%	—	—

Volatility

Volatility by Period

	UBRL	BEG	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	48.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	64.91%	213.85%	-148.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.97%	213.85%	-137.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.97%	213.85%	-137.88%

UBRL vs. BEG - Expense Ratio Comparison

UBRL has a 1.15% expense ratio, which is higher than BEG's 0.75% expense ratio.

Dividends

UBRL vs. BEG - Dividend Comparison

UBRL's dividend yield for the trailing twelve months is around 14.64%, while BEG has not paid dividends to shareholders.

Position	TTM	2025
BEG Leverage Shares 2X Long BE Daily ETF	0.00%	0.00%
UBRL GraniteShares 2x Long UBER Daily ETF	14.64%	10.44%

Frequently Asked Questions

Can I hold both UBRL and BEG in my portfolio?

UBRL and BEG have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBRL or BEG?

On fees, BEG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UBRL or BEG?

BEG is cheaper with a 0.75% expense ratio, compared with 1.15% for UBRL.

Which ETF pays a higher dividend yield, UBRL or BEG?

UBRL has the higher dividend yield at 14.64%, compared with 0.00% for BEG.

What is the main difference between UBRL and BEG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.15% for UBRL and 0.75% for BEG.