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Launched

GraniteShares 2x Long IONQ Daily ETF

IONLNasdaqDThis 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.

$9.28−0.90 (−8.84%)

At close: Oct 13, 2026, 4:00 PM

D30/ 100

Rank 320 of 380 in Single-Stock Long Leveraged

D30/100Rank 320 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 10.18 to 9.28. Range 9.18 to 9.98. Use the arrow keys to read each point.9.409.609.8010.0010 AM12 PM2 PM4 PM
Expense ratio
3.63%
Fund size
$65M
1Y total return
−90.5%
Yield · Last 12 months
—
Holdings
2
Avg volume · 30D
0.7M sh
NAV per share
$10.15
52W range
low $8.76high $148.08
Launched

The ETF.net IONL Grade

Based on 5 of 6 pillars

D

Score 30 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
320 of 380
Six-pillar profile for IONL. Scores out of 100: Cost 0, Risk 25, Mission 86, Tradability 79, Holdings not scored, Durability 76. Strongest: Mission (86). Weakest: Cost (0). Based on 5 of 6 pillars.

Score 30 of 100 falls in the D 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.
    F0 out of 100
    Rank 377 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A86 out of 100
    Rank 102 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D25 out of 100
    Rank 310 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A79 out of 100
    Rank 45 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.
    A76 out of 100
    Rank 34 of 380

Our read on IONL

ETF.net Research

DOnly a couple of ETFs aim for twice IonQ's daily move, and this is one of them: a geared, single stock play on a quantum computing name, reset every session, at a 3.63% expense ratio.

Stated mandate

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

Why people hold it

  1. 01Does exactly what it says: seeks twice IonQ's daily percentage change before fees, and it has hit that daily target closely in practice.
  2. 02Geared exposure inside a plain brokerage account. No margin agreement, no options approval, no rolling your own position.graniteshares.com
  3. 03Actively traded for a young, narrow product, which matters when the holding period is measured in hours rather than years.

Worth knowing

  1. 01The 3.63% expense ratio sits near the top of the leveraged single stock aisle, and the rival 2x IonQ fund (IONX) charges less for the same daily objective.
  2. 02The 2x target resets each day. Hold longer and results can drift well away from twice IonQ's move, especially through choppy stretches.graniteshares.com
  3. 03Everything rides on one volatile quantum computing stock, doubled. This is a trading vehicle, not an income one.

IONL Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
IONQ66.7%

Sectors

  • Technology100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IONQIonq66.65%3,561,596$129M137
002—US Dollars33.35%64,637,894$65M85

Showing 1–2 of 2 holdings

IONL Performance

Launched Mar 25, 2025

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.Not enough history yet.
IONL$955
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. IONL $955. SPY $12,044. Use the arrow keys to read each point.$-35$6,460$12,955Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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 IONL. Periods over one year show the average yearly return.
PeriodIONL
Year to date−69.1%
1 month−6.5%
3 months−40.9%
1 year−90.5%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 IONL
YearReturn barIONL
2026 YTD−69.1%
2025+38.6%

Since listing, Mar 25, 2025

IONL in the news

Filtered to IONL · Single-Stock Long Leveraged

IONL Dividends

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

No distributions in the last 12 months.

IONL 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.
203.3%
Annualised · 18 months to Sep 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.
0.70
vs 3-month T-bills · 18 months to Sep 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.
−93.5%
18 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.
0.00
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.

IONL Cost

Expense ratio3.63%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

329 of the 333 Single-Stock Long Leveraged funds charge less.

IONL costs $363.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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