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Launched

GraniteShares 2x Long BABA Daily ETF

BABXNasdaqGraniteSharesCThis 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.

$14.21+0.95 (+7.16%)

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

C52/ 100

Rank 79 of 380 in Single-Stock Long Leveraged

C52/100Rank 79 of 380inSingle-Stock Long Leveraged
Intraday session: up, 79 prints from 13.26 to 14.21. Range 14.21 to 14.81. Use the arrow keys to read each point.13.5013.7514.0014.5014.7510 AM12 PM2 PM4 PM
Expense ratio
1.09%*
Fund size
$91M
1Y total return
−71.7%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
821K sh
52W range
low $12.70high $53.35
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 1.12%.

The ETF.net BABX Grade

Based on 5 of 6 pillars

C

Score 52 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
79 of 380
Six-pillar profile for BABX. Scores out of 100: Cost 39, Risk 34, Mission 96, Tradability 89, Holdings not scored, Durability 82. Strongest: Mission (96). Weakest: Risk (34). Based on 5 of 6 pillars.

Score 52 of 100 falls in the C 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.
    D39 out of 100
    Rank 233 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A96 out of 100
    Rank 30 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D34 out of 100
    Rank 258 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A89 out of 100
    Rank 20 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.
    A82 out of 100
    Rank 12 of 380

Our read on BABX

ETF.net Research

In short

CThe original 2x Alibaba ETF: live since 2022, years before its rivals. It aims for twice BABA's daily move, resets every night, and costs 1.15% net of a waiver through December 31, 2026.

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

  • Launched December 2022, it beat every rival 2x BABA fund to market by years, giving traders the longest-running option in this corner of the market.graniteshares.comkraneshares.comdirexion.com
  • Tracks its daily 2x target closely and trades actively with tight execution, one of the stronger builds in a crowded leveraged single-stock group.
  • Plain plumbing: swaps totaling 200% notional across counterparties, collateralized by T-bills and cash, rebalanced daily, with holdings published by the issuer.graniteshares.com

Worth knowing

  • Costs more than the two other 2x BABA funds: BABU at 0.97% net of a waiver through September 1, 2027 and KBAB at 0.99% net of a waiver through August 1, 2028.
  • The daily reset means returns over longer stretches can drift far from 2x BABA. GraniteShares calls it a short-term trading vehicle, not a buy-and-hold holding.graniteshares.com
  • The mandate was 1.75x before January 22, 2024, so the earliest stretch of its history reflects a different leverage level than today's.graniteshares.com

BABX Holdings

Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
BABA66.7%

Sectors

  • Consumer Discretionary100.0%

Geography

  • China100.00%

Developed 0% · Emerging 100% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1BABABaba66.65%1,858,430$182M74
2No dataUS Dollars33.35%91,153,917$91.2M85

Showing 1–2 of 2 holdings

BABX Performance

Launched Dec 13, 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.
BABX$2,831
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. BABX $2,831. SPY $11,146. Use the arrow keys to read each point.$2,500$5,000$7,500$10,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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−60.6%
1 month−9.5%
3 months−35.0%
1 year−71.7%
3 yearsper year−7.9%
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 BABX
YearReturn barBABX
2026 YTD−60.6%
2025+123.9%
2024+1.2%
2023−33.9%
2022−7.3%

Since listing, Dec 13, 2022

BABX in the news

BABX Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

BABX Risk

Risk pillarD34 out of 100Rank 258 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.
95.3%
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.
0.25
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.
−79.2%
46 months · trough Oct 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.

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

BABX Cost

Compare BABX and GOGL

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

$15,978

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

  • BABX 1.09%

    $20,133

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • BABX 1.09%
  • 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$25K051015202530BABX $20,133GOGL $4,155

Year by year

YearBABXGOGLOverpaying
10$1,915$365$1,550
20$7,166$1,421$5,745
30$20,133$4,155$15,978
How the 1.09% is worked out

Full fee 1.12%− waiver 0.03%= you pay 1.09%

The waiver ends Dec 31, 2027. After that the fee is 1.12% unless GraniteShares renews it. Source: prospectus, Oct 2026.

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