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BABX

GradeCNASDAQ Global Market

GraniteShares 2x Long BABA Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2022-12-13

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.

$17.37−1.72 (−9.01%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Dec 13, 2022.
Intraday session: down, 59 prints from 19.09 to 17.37. Range 17.23 to 17.67. Use the arrow keys to read each point.$17.20$17.6010 AM12 PM2 PM4 PM
Expense ratio
1.20%
Fund size
$128M
1Y return
−60.7%
Yield · Last 12 months
—
Holdings
2
Volume · 30D
0.9M sh
NAV per share
$18.91
52W range
low $12.70high $66.00

The ETF.net BABX Grade

C

53/ 100

Rank 71 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for BABX. Scores out of 100: Cost 40, Risk 33, Mission 96, Tradability 89, Holdings not scored, Durability 82. Strongest: Mission (96). Weakest: Risk (33). 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.
    CScore 40
    Category rank228/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 96
    Category rank42/147 · top 29%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 33
    Category rank214/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 89
    Category rank20/380 · top 5%

  • 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 82
    Category rank13/380 · top 3%

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

Our read on BABX

ETF.net Research

CTwo times Alibaba's daily move in a plain ETF wrapper, no margin account needed. An early entrant in the single-stock leverage wave, and it sits in the upper tier of its peer group on how closely it hits that daily target.

Stated mandate

The Fund seeks daily investment results equal to twice the daily percentage change of Alibaba Group Holding Limited’s common stock. It is intended as a short-term leveraged trading vehicle rather than a long-term investment.

Why people hold it

  1. 01Aims for twice Alibaba's daily percentage move, reset each day, inside an ordinary ETF wrapper instead of a margin balance or swap line.graniteshares.com
  2. 02Hits that 2x daily target closely, one of the tighter implementations in the bull single-stock leverage crowd.
  3. 03Listed in 2022, early in the single-stock leverage wave, and it trades actively rather than sitting as a thin ghost ticker.

Worth knowing

  1. 01At 1.20% a year it runs above the typical bull single-stock leveraged fund, and above same-target rival BABU at 0.99%.
  2. 02The 2x is a daily target. Hold longer and compounding takes over, so multi-day results can diverge from twice Alibaba's move. The issuer frames it as a short-term trading tool.graniteshares.com
  3. 03One stock, doubled: Alibaba's China regulatory and ADR news lands at twice the size, and the fund is not built to pay income.

BABX Holdings

As of Sep 21, 2026, 4:05 AM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
BABA SWAP66.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—BABA SWAP66.66%2,084,650$226M1
002—US Dollars33.34%113,154,794$113M85

Showing 1–2 of 2 holdings

BABX Performance

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

BABX$3,926
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. BABX $3,926. SPY $11,723. Use the arrow keys to read each point.$1,977$7,806$13,636Sep 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 BABX. Periods over one year show the average yearly return.
PeriodBABX
Year to date−47.0%
1 month−6.4%
3 months+14.8%
1 year−60.7%
3 years−2.3%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 BABX
YearReturn barBABX
2026 YTD−47.0%
2025+123.9%
2024+1.2%
2023−33.9%
2022−7.3%

Since listing, Dec 13, 2022

BABX in the news

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

BABX Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

BABX 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.
94.8%
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.
0.28
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.
−78.8%
45 months · trough Jun 2026
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.
1.02
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.

BABX Cost

Expense ratio1.20%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

BABX costs $120.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.