Skip to content
etf.net

Launched

GraniteShares 2x Long AAPL Daily ETF

AAPBNasdaqGraniteSharesBThis 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.

$44.38−1.68 (−3.65%)

At close: Nov 2, 2026, 4:00 PM ET

B59/ 100

Rank 44 of 380 in Single-Stock Long Leveraged

B59/100Rank 44 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 46.06 to 44.38. Range 43.74 to 45.69. Use the arrow keys to read each point.44.0045.0045.5010 AM12 PM2 PM4 PM
Expense ratio
1.21%*
Fund size
$18M
1Y total return
+43.5%
Yield · Last 12 months
3.06%
Holdings
2
Avg volume · 30D
50.5K sh
52W range
low $25.30high $47.92
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 1.29%.

The ETF.net AAPB Grade

Based on 5 of 6 pillars

B

Score 59 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
44 of 380
Six-pillar profile for AAPB. Scores out of 100: Cost 37, Risk 80, Mission 78, Tradability 78, Holdings not scored, Durability 75. Strongest: Risk (80). Weakest: Cost (37). Based on 5 of 6 pillars.

Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D37 out of 100
    Rank 238 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A78 out of 100
    Rank 127 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A80 out of 100
    Rank 39 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A78 out of 100
    Rank 47 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A75 out of 100
    Rank 45 of 380

Our read on AAPB

ETF.net Research

In short

BA day-one member of the US single-stock leverage club: listed August 2022 at 1.75x Apple, raised to 2x in January 2024. It aims to deliver twice Apple's daily move, then resets the clock every night.

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

  • Aims for twice Apple's daily percentage change, then resets. The exposure you own is today's, not a stale bet left over from last month.sec.gov
  • Actively managed, building the 2x exposure from swaps, options and Apple shares themselves rather than one fixed structure.graniteshares.com
  • On the market since August 2022, one of the originals in a field that now runs to hundreds of funds, and one of the stronger implementations in that crowd.
  • The multiple is a documented, board-approved setting, not a moving target: the 1.75x to 2x change ran through an SEC prospectus supplement before it took effect.sec.gov

Worth knowing

  • 1.15% net of a waiver through December 31, 2026 (1.31% gross), above the category median and above 2x peers such as TSMG at 0.76% and OKTG at 0.75%.
  • The daily reset means multi-day results compound and can diverge sharply from 2x Apple's move over the same stretch, and Apple's volatility widens that gap.sec.gov
  • GraniteShares frames it for holding periods measured in days, not years, and payouts are infrequent. A trading instrument, not an income one.graniteshares.com

AAPB Performance

Launched Aug 9, 2022

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

Not enough history yet.Not enough history yet.
AAPB$14,349
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. AAPB $14,349. SPY $11,199. Use the arrow keys to read each point.$7,500$10,000$12,500$15,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+43.7%
1 month+5.9%
3 months+21.7%
1 year+43.5%
3 yearsper year+36.2%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+43.7%
2025−0.9%

AAPB in the news

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 Oct 30, 2026.
3.06%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

$10,000 in AAPB 3 years ago paid $2,395 in dividends.

AAPB Risk

Risk pillarA80 out of 100Rank 39 of 368 in Single-Stock Long Leveraged

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.
42.5%
Annualised · 36 months to Oct 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.
0.83
vs 3-month T-bills · to Oct 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%
50 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.
1.82
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.

FMP measures it over up to five years of monthly returns.

AAPB Cost

Compare AAPB and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$17,850

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AAPB 1.21%

    $22,005

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • AAPB 1.21%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530AAPB $22,005GOGL $4,155

Year by year

YearAAPBGOGLOverpaying
10$2,115$365$1,750
20$7,873$1,421$6,452
30$22,005$4,155$17,850
How the 1.21% is worked out

Full fee 1.29%− waiver 0.08%= you pay 1.21%

The waiver ends Dec 31, 2027. After that the fee is 1.29% unless GraniteShares renews it. Source: prospectus, Oct 2026.

Other funds in Single-Stock Long Leveraged

See others