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Launched

GraniteShares 2x Long META Daily ETF

FBLNasdaqGraniteSharesBThis 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.

$24.27+0.09 (+0.37%)

As of Nov 10, 2026, 11:25 AM ET

B61/ 100

Rank 34 of 367 in Single-Stock Long Leveraged

B61/100Rank 34 of 367inSingle-Stock Long Leveraged
Intraday session: up, 24 prints from 24.18 to 24.27. Range 23.89 to 24.45. Use the arrow keys to read each point.23.9024.0024.1024.4010 AM12 PM2 PM4 PM
Expense ratio
1.05%*
Fund size
$140M
1Y total return
−18.0%
Yield · Last 12 months
2.79%
Holdings
2
Avg volume · 30D
1.08M sh
52W range
low $17.43high $40.28
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 1.08%.

The ETF.net FBL Grade

Based on 5 of 6 pillars

B

Score 61 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
34 of 367
Six-pillar profile for FBL. Scores out of 100: Cost 44, Risk 55, Mission 98, Tradability 95, Holdings not scored, Durability 83. Strongest: Mission (98). Weakest: Cost (44). Based on 5 of 6 pillars.

Score 61 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.
    C44 out of 100
    Rank 202 of 367

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A98 out of 100
    Rank 14 of 143

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B55 out of 100
    Rank 135 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A95 out of 100
    Rank 4 of 367

  • 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.
    A83 out of 100
    Rank 10 of 367

Our read on FBL

ETF.net Research

In short

BTwo US ETFs offer 2x daily Meta exposure, and FBL has been doing it since 2022. One stock, one lever, reset every day: it aims for twice Meta's daily move before fees, and nothing else.

Stated mandate

The Fund seeks daily investment results equal to twice the daily percentage change of Meta Platforms Inc. before fees and expenses.

Why people hold it

  • Does exactly the job on the label: twice Meta's daily percentage change, before fees. It has held that target tightly, one of the stronger implementations in its peer group.graniteshares.com
  • Only two US ETFs offer 2x daily Meta exposure. FBL is one of them, and it has been trading since December 2022, through several Meta earnings cycles.
  • Actively traded, and one of the easier funds in this corner of the market to get in and out of when Meta is the story of the day.

Worth knowing

  • Fees run 1.09% a year, above the typical leveraged single-stock fund and above METU, the other 2x Meta ETF, at 1.02%.
  • The 2x target resets daily. Hold longer and returns compound; a choppy stretch can leave you well away from twice Meta's move over that period.graniteshares.com
  • One company, doubled. Meta headline risk is the entire portfolio, amplified, with no diversification to cushion it.

FBL Holdings

Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
META66.7%

Sectors

  • Communication100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1METAMeta66.70%460,345$281M713
2No dataUS Dollars33.30%140,232,531$140M85

Showing 1–2 of 2 holdings

FBL 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.
FBL$8,203
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. FBL $8,203. SPY $11,339. Use the arrow keys to read each point.$7,500$10,000$12,500Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 FBL. Periods over one year show the average yearly return.
PeriodFBL
Year to date−25.6%
1 month−22.2%
3 months+9.2%
1 year−18.0%
3 yearsper year+21.9%
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 FBL
YearReturn barFBL
2026 YTD−25.6%
2025+0.5%

FBL in the news

FBL 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 Nov 9, 2026.
2.79%Last 12 months
Payout per share
$0.67Last 12 months
Last payment
$0.67 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 $8.00; Dec 29, 2025 $0.67. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 31, 2025$0.67
Dec 27, 2023Dec 29, 2023$8.00

$10,000 in FBL 3 years ago paid $4,076 in dividends.

FBL Risk

Risk pillarB55 out of 100Rank 135 of 363 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.
73.3%
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.
0.55
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.
−63.2%
46 months · trough Jul 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.
2.70
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.

FBL Cost

Compare FBL and GOGL

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

$15,340

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

  • FBL 1.05%

    $19,495

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • FBL 1.05%
  • 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$20K051015202530FBL $19,495GOGL $4,155

Year by year

YearFBLGOGLOverpaying
10$1,847$365$1,482
20$6,927$1,421$5,506
30$19,495$4,155$15,340
How the 1.05% is worked out

Full fee 1.08%− waiver 0.03%= you pay 1.05%

The waiver ends Dec 31, 2027. After that the fee is 1.08% unless GraniteShares renews it. Source: prospectus, Oct 2026.

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