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AAPB

GradeCNASDAQ Global Market

GraniteShares 2x Long AAPL Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2022-08-09

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$44.63−0.61 (−1.35%)

As of Sep 23, 2026, 3:09 PM EDT

History starts Aug 9, 2022.
Intraday session: down, 45 prints from 45.24 to 44.63. Range 44.35 to 45.80. Use the arrow keys to read each point.$45.00$45.5010 AM12 PM2 PM4 PM
Expense ratio
1.31%
Fund size
$18M
1Y return
+55.1%
Yield · Last 12 months
3.11%
Holdings
2
Volume · 30D
0.1M sh
NAV per share
$45.10
52W range
low $25.30high $47.63

The ETF.net AAPB Grade

C

53/ 100

Rank 68 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for AAPB. Scores out of 100: Cost 27, Risk 76, Mission 73, Tradability 76, Holdings not scored, Durability 73. Strongest: Risk (76). Weakest: Cost (27). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 27
    Category rank265/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 73
    Category rank136/147 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 76
    Category rank27/285 · top 9%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 76
    Category rank59/380 · top 16%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 73
    Category rank54/380 · top 14%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on AAPB

ETF.net Research

CApple with the volume turned up: AAPB aims for twice AAPL's daily percentage move, reset each morning. Live since 2022, it has stayed close to that daily target. The trade-off shows up in the fee.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, equal to twice the daily percentage change of Apple’s common stock.

Why people hold it

  1. 01One job, stated plainly: twice Apple's daily percentage move, before fees, inside an ordinary 1940 Act ETF. No margin account, no options chain, no borrow to arrange.graniteshares.com
  2. 02Delivery matches the mandate. It has tracked its stated 2x daily objective closely, one of the stronger implementations in a crowded leveraged single-stock field.
  3. 03Trading since 2022, early in the single-stock leverage era, so there is a real operating record through Apple's rallies and drawdowns rather than a few months of history.

Worth knowing

  1. 01At 1.31% a year, the fee sits above the typical leveraged single-stock fund, and Direxion's AAPU packages the same 2x Apple exposure for less.
  2. 02The leverage resets daily. Over longer holds, compounding through choppy stretches can leave results well away from twice Apple's move across the same span.graniteshares.com
  3. 03One stock, doubled: an earnings surprise or product cycle wobble hits with twice the force, and volume runs below the busiest names in the category, so spreads can widen.

AAPB Holdings

As of Sep 21, 2026, 4:05 AM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
AAPL SWAP66.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—AAPL SWAP66.70%108,634$37M1
002—US Dollars33.30%18,280,548$18M85

Showing 1–2 of 2 holdings

AAPB Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

AAPB$15,513
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. AAPB $15,513. SPY $11,723. Use the arrow keys to read each point.$8,229$12,332$16,435Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AAPB. Periods over one year show the average yearly return.
PeriodAAPB
Year to date+41.1%
1 month+19.1%
3 months+25.1%
1 year+55.1%
3 years+33.0%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AAPB
YearReturn barAAPB
2026 YTD+41.1%
2025−0.9%
2024+47.0%
2023+77.1%
2022−38.4%

Since listing, Aug 9, 2022

AAPB in the news

ETF.net Research hasn’t filed on AAPB yet — coverage lands here as it’s written.

AAPB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.11%Last 12 months
Payout per share
$1.41Last 12 months
Last payment
$1.41 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2023–2026

One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $4.31; Dec 29, 2025 $1.41. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 31, 2025$1.41
Dec 27, 2023Dec 29, 2023$4.31

AAPB Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
43.8%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.55
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−58.1%
49 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.85
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AAPB Cost

Expense ratio1.31%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

241 of the 329 Single-Stock Long Leveraged funds charge less.

AAPB costs $131.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.